A variety of factors including our mental health and brain chemistry can cause us to self sabotage with money.
Here’s what to know.
Surveys show that mostAmericans are uneasy about the prospectand what it may potentially mean for their personal economy.
Without you even being aware, these factors could be undermining your efforts toimprove your relationship with money.
Here are 5 ways your mind can cause you to self sabotage with money
1.
Each attachment style may respond from that desire to avoid discomfort, he says.
chief people officer at Credit Karma
While those with an insecure attachment style (i.e.
avoidant, anxious, or disorganized) are more likely to engage in self-sabotaging behaviors.
Emotional dysregulation is influencing your decisions
For many, spending money is a distraction from uncomfortable emotions.
Emotional dysregulation is common amongst people with neurodivergent conditions, often increasing the likelihood of emotional spending.
Neurodiverse individuals are also more likely to have difficulty concentrating and focusing on tasks, for example, budgeting.
Whats more, in 2019, theJournal of Consulting and Clinical Psychologystudied the long-term money habits of neurodiverse children.
Our minds can play tricks on us to accomplish what the brain wants, shares Dr. Shumway.
When we collude with our brains and ignore the wise choice, we tend to choose poorly.
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chief people officer at Credit Karma
Ways to challenge bad spending habits
1.
Reduce access
Dont store your credit card on your surfing app, suggests Dr. Shumway.
Dont scroll through online shopping platforms without a specific purchase in mind, and avoid shopping as a pastime.
Factor in a splurge category into your budget to treat yourself for your hard work.
What led to that temptation?
What feeling might you be trying to avoid?
Journal about them and see if you’ve got the option to start to notice any patterns.
This method will help avoid impulse spending beyond your means.
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