How to dissolve toxic beliefs about money

2023-08-19 11:47:59

“Money is the root of all evil”

Negative beliefs about money can also affect one’s financial behavior.

(Photo: Imago)

Berlin “Anyone who is rich has not become rich in an honest way.” Sayings like this are often said lightly. However, they do show how someone thinks about money.

Negative affirmations are sometimes formed in childhood, but then they may accompany people for a lifetime. “Things that we are not aware of often have a particularly strong influence on our behavior,” says Hartmut Walz, behavioral economist at Ludwigshafen University of Applied Sciences.

This can also have significant consequences for the investment – ​​for example, if there is a lack of trust in money or the accumulation of wealth is rejected.

Walz and the financial psychologist Monika Müller explain what really lies behind four common beliefs about money and how they can be dissolved in order to deal with one’s own finances sensibly.

Finances: How beliefs about money accompany us throughout our lives

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Further