“ Money and Money Psychology”

Since, we are fast approaching Thanksgiving and the Holiday Season of Giving, I decided to write this Blog about Money, Wealth and Money Psychology for my Subscribers. Oftentimes, Giving implies the contribution of a tangible resource, i.e. “Cash, Money or sometimes called Bread”.?

So, What Is Money?

According to investopedia.com, Money is any item or medium of exchange that symbolizes perceived value. As a result, it is accepted by people for the payment of goods and services, as well as for the repayment of loans. Economies rely on money to facilitate transactions and to power financial growth. Typically, it is economists who define money, where it comes from, and what it's worth. Here are the multifaceted characteristics of money.

Key Takeaways

• Money is a medium of exchange. It allows people and businesses to obtain what they need to live and thrive.
• Bartering was one way that people exchanged goods for other goods before money was created.
• Like gold and other precious metals, money has worth because it represents something valuable.
• Fiat money is government-issued currency that is not backed by a physical commodity but by the stability of the issuing government.
• Above all, money is a socially accepted standard unit with which things are priced.

So based on the Investopedia definition, Money (Physical / Electronic Cash) is a medium of Exchange for Goods and Services. I also understand that America embraces the Fiat Money Concept for the conduct of economic transactions at home and around the globe. In my quest to better understand money and build wealth over the years, I have read countless articles and books on Leadership, Money and Wealth. It’s an Ongoing Pursuit from Grade One to Grade Two in the University of Life. During this quest, I have been exposed to various Myths, Misconceptions and Superstitions about Money and Wealth, which have been perpetuated by family, friends, books, media and society. Millions of Americans have been intentionally / unintentionally conditioned by these messages about money and wealth. Let’s revisit some of these common secular / spiritual messages, which have directly or indirectly influenced our psychology and behavior with money and wealth, for example….

• Money is the Root of Evil….?

• Money cannot buy Happiness…
• Money is Physical Currency, Only…
• Money is a Taboo Topic…
• Money is Equal to Time….

Does this sound familiar???

If we elevate our thinking and recondition our thinking about money and wealth, we can debunk some of these messages, misconceptions and cultivate a better understanding / relationship / behavior with money, for example.

Money is a Tool (Tangible / Intangible Resource) for Good. Money is a neutral substance. Character (Good or Bad) is a human trait and not a trait of a neutral substance. Individuals determine the positive or negative Intentions and Motives for the money. For example,? Lack and Greed can cause evil behavior; it’s the character of the person and not the money. Remember, Money is a neutral substance and has a higher state of representation beyond the physical matter.

Money can buy Happiness!!? I know …. a shocking statement… In my personal universe, Money can buy some of the Tangible Things, which produce short lived Happiness. Meaning….Happiness is a subjective state of being and a fleeting emotion of choice. You choose who you will serve – Happiness or Unhappiness on a daily basis…whether you have the material possessions or not…In the Book, “The Power of the Your Subconscious Mind”, the late Dr Joseph Murphy talked about Happiness as a blend of Happiness and Virtue, which complement each other. Oftentimes, Acts of Goodness (Virtue) require financial input… Money…

Money is both a Material and Immaterial Substance…I am going Deep….Money is a Tangible Resource and Intangible (Spiritual) Substance, which could mean Peace of Mind, Happiness, Contentment, Freedom, Power and Love. In the book, Thou Shall Prosper by Rabbi Daniel Lapin, the Rabbi talked about Spirit Beings (Individuals) engaged in Exchange of Values. Therefore, Ethically earning money and building wealth can be an expression of your Spirituality…Also, Spiritual things such as Peace of Mind, Contentment and Love cannot be measured in a laboratory…

Money is a Taboo Topic – Why is money a forbidden topic? The Money Topic impacts all aspects of society from the Poor to the Billionaire. Money is like Oxygen and we need to breath everyday…Money is germane to our Capitalist Ideas in America. ?Whether we like it or not, Money is an essential resource in personal and business transactions for exchange of value…. We need to get comfortable with discussing money matters, such as Controlling Debt, Saving, Investing and Growing our Money.

Money can be equal to time but time is more valuable than money. Money can be replenished but your time (Life Span) is not a replenishable resource. Therefore, we should be intentional with our Time and Money. In the Psychology of Money Book by Morgan Housel, the author talked about Controlling our Time. ?As we recondition our individual Psychology about Money, there are a few more Tips that should be considered in your Psychology of Money into the New Year 2025.

Your Mental Attitude (Thought Energy) impacts your Money Decisions. No one is exempt from Cause and Effect because thought aka cause (rational or irrational) impacts your money effects. Money decisions should be rational but oftentimes are emotionally driven decisions. Whether you are interested or not, Health and Money require intentionality for positive outcomes. You cannot turn a blind eye to either resource in your life. There are consequences for avoiding Health and Money related issues.

High Income and Wealthy Mindsets are not the same. Financial Wealth (Assets) is hidden and can be converted to Cash.

High Income can be used to build wealth. Time Horizon, Risk Tolerance, Goals, Mental Attitude and the Invisible Force have a direct impact on Wealth Accumulation. Everyone’s wealth building psychology is unique…

Controlling your Time is the Highest Dividend that money pays.

Cash Reserves or Cash Equivalent provides options/freedom of movement(personal/business)…

Nothing is Free…Some Price Tags are not visible to the consumer.

All Money is not good money…what is the hidden cost? It’s a choice….

Last but not least, I uncovered a Recurring Theme in these books about Money and Wealth; the theme is Wealth and Poverty are States of Mind. Poverty is considered a Mental Disease and is One Grade in the University of Life.? Wealth (Un-Realized Money) is another Grade in the University of Life. Since, we are Spiritual Beings with Power and Intelligence, we create our conditions / circumstances with our mental energy- Consciously or Unconsciously. This Thought Energy also conforms to the Law of Cause and Effect, which directly /? indirectly influences out external environment and conditions. In other words, our External World is a reflection of our Internal World of Thought / Mental Energy… Everyone is responsible for Mastering the Spiritual / Mental Principles? and Practical Requirements for advancement to the Higher Grade of Wealth. Some of the recommended books for studying Mental Principles, Money and Wealth Creation concepts are the following –

• Your Money Happiness by Henry S. Brock
• Money Magnetism by? J. Donald Waters
• You, Too, Can Be Prosperous by? Robert A. Russell
• Thou Shall Prosper by Rabbi Daniel Lappin
• Think and Grow Rich, a Black Choice by Dennis Kimbro and Napoleon Hill
• The Science of Getting Rich by Wallace Wattles
• As a Man Thinketh by James Allen
• The Psychology of Money by Morgan Housel

At the End of the Day, Money is both a Physical / Spiritual Substance and Force for Good in your micro / macro society….You must be intentional about your Time and Money for graduation to the Higher Grade in the University of Life and Wealth.

If you would like additional info on this Blog and the Other books, please reach out to us at [email protected] and [email protected] for assistance.

References–

https://www.investopedia.com/insights/what-is-money

Book List Above

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