Money Personality

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Psychology of Money

When I tell people that I graduated with 2 majors, one in psychology and one in economics, I typically get a funny look and a remark such as "could you have chosen two more opposites sides of the spectrum?!" My answer to them, however, is NO! These two subjects have a whole lot more in common than we allow ourselves to believe. Every decison we make involving money has an element of emotion surrounding it. Think about money decisons that you make; what are the reasons you choose to spend, save, invest, donate, etc.? Every action we take with money has a corresponding psychological reason behind it--whether we are consciously aware of it or not. (I will admit that I've done my fair share of 'buying without thinking'.) What we need to begin to  realize is that even though I might have thought I wasn't thinking in those money moments, my brain was actually running wild.