Turning Your Money-Related Emotions into Positive Actions & Possibilities

Article by Sarah Nix, 3Rivers Contact Center Representative.

When holding money in your hand, does it frighten or excite you? When paying bills, do you hate to see it leave your possession? When you see stocks rise and fall, do you feel a rush of excitement, or a feeling of dread? Any range of these emotions can come up in any situation tied to the relationships we have with our finances. Becoming more aware of and in-tune with these emotions—acknowledging when we’re feeling them and why—can be a powerful part in our financial wellness journeys.

How Our Emotions Are Tied to Our Finances

When we start to look into how we relate to our money and the emotions we feel in certain situations, we’ll also likely be met with some specific memories as well. For example, on the positive side, seeing your child play with the toy you bought using your first allowance may take you back to that particular memory and fill you with emotions of accomplishment and pride—and make you excited to introduce allowance to your children. Or maybe buying flowers for your significant other takes you back to memories of your first years together and elicits love-filled emotions that make budgeting and spending those few extra dollars every now and then feel good.

Some financially-based memories and emotions that pop up, however, can be upsetting. Perhaps seeing a piece of mail from a certain medical office or hospital immediately creates a sense of dread because the name or logo takes you back to a situation involving an expensive hospital bill that took you years to pay off, or wound up in collections. Memories and emotions like these could result in immense stress and may even cause you to shut down or put off addressing unrelated actions because of the financial history you associate with them.

Your current emotional state can also directly affect your financial habits, too. You may notice that you go to the store and buy things you don’t need when you’re feeling sad in hopes of feeling better, use money as a bargaining chip when you're feeling angry, scared, or guilty, or allow your anxieties or depression to keep you from staying on top of your monthly bills—all of which can lead to a worsened emotional and financial state.

So how do YOU relate to money personally, and what sort of memories and emotions come up? Take a moment to think about all the big and small moments of your in life that involved some kind of financial component. Opening your first bank account or applying for your first credit card. Buying a first car or home. Planning for a wedding or a family. Medical expenses. Traveling. How you dealt with money in the lowest point of your life, or the highest. What feelings do you identify with these memories? How did you handle the money that you had—or possibly didn’t have—for these situations? How have those instances shaped how you’ve approached money since then?

In any situation, the emotions you feel when it comes to your money are valid and not to be taken lightly. Fortunately, there are ways you can embrace them, grow from them, and turn them into possibilities for better financial experiences in the future.

Here are a few interesting articles on the role psychology and emotions play in our finances:

• The Psychology of Money via Forbes
• Money & Emotions via Psychology Today
• How Emotions Affect Money Habits via Yahoo! Finance

How 3Rivers Can Help You Turn Those Emotions into Actions

At 3Rivers, our members come to us with a variety of financial situations—each with their own set of memories and emotions. We hear stories like these every day, and are passionate about helping turn those memories and emotions into positive actions.

Sometimes our memories and emotions involving finances can lead us to think of money as either a problem and an obstacle, or as a means to a solution. 3Rivers can help you transform these emotions into actions—some small and some big—that can better your financial future.

The most key way in which we go about this is by offering free financial wellness conversations. Our team members are always willing to listen to your own unique stories and learn more about the emotions tied to your finances—and if you’re not sure where to start, we’ll go through some questions with you. Once we understand where you are now, we can work together to determine what actionable steps you can take toward a stronger financial future.

We’ve helped our members steer away from financial obstacles by identifying fraud and scams, helping them to form healthier financial habits, coming up with strategies to recover from overwhelming debt, making sense of the products, services, and resources available to them, and so much more. We’re here to offer you guidance and support, cheer you on along the way, and also challenge you to grow and reach your financial goals.

Let's Get the Conversation Started!

Turn your money-related emotions into powerful actions and take control of your financial future with a little help from your friends at 3Rivers! Schedule an appointment to talk with a team member at your nearest branch, over the phone, or via video chat today. We look forward to talking with you soon!

If you’re in need of support due to depression, suicidal thoughts, substance abuse, or anything related to your mental or emotional health, please don’t hesitate to seek support. The National Institute of Mental Health is a great starting point, as well as the Substance Abuse & Mental Health Services Administration (SAMHSA).