Everyone has a unique relationship with money. As the saying goes, ’money makes the world go around’. Three-quarters of Americans say money is a source of stress in their lives. Not having enough of it can be a major stressor. Having it and not knowing how to use it to make it last is also stressing. The financial disorder can be explained as patterns that are self-destructive and self-limiting on money related issues. In this article, we will cover three types of financial disorder that many people face in their daily life.
This is a condition where the sufferer believes that everything revolves around money and can be solved by getting as much of it as possible. This can be seen in behavior such as workaholism, where one will work more and more in the belief that money will flow in as long one is working for it. Some will be tempted to take shortcuts to making lots of money. This could lead to pathological gambling where one is always looking to hit the jackpot.
On the other hand, there are overspenders who believe spending money pulls them to make more so that they can spend it. This destructive cycle traps them as strongly as a drug addiction. Money worshiping is one of the types of financial disorder which many of us might have.
Those suffering from this condition believe that everything will be OK financially as long as they are not spending any money or spend as little as possible. This underspending can be seen in an obsession with bargains and discounts. Sufferers of this condition will also be misers. Hoarding is also a tendency of people suffering this kind of financial disorder. This kind of disorder can lead to denial where one belief ignoring expenditures will lead to better financial stability. Refusal to look at bills, bank statements and another evidence of expenditures is a good sign of this disorder. Money avoidance is one of the types of financial disorder which might not be big of a deal but it makes a huge difference in our life. The outflow of money is not checked and controlled, therefore when you need money it will not be there without realizing.
Financial relation disorder
This financial disorder is seen in people who believe that they should not discuss their money issues with other people even close ones like spouses. When they report on money matters, they lie and give incorrect information. Extreme behavior from this disorder could be seen in spending large amounts and keeping it from a spouse, or taking out a loan without reporting to the spouse. The financial relational disorder can also be seen in people who give away money even when they cannot afford to. For example, a parent supporting an adult who cannot get finances straight. This is also referred to as financial enabling. One feels guilt at being financially successful when others especially close relatives are worse off financially.