How tightly someone manages their money is not always an accurate meter for how wisely they spend it, especially in the case of materialists and compulsive spenders. These types of people generally emphasize the importance of money and being financially successful. On the flip side, they are also more likely to be unsatisfied with their own finances and standard of living. This can translate into compensation by overspending to combat feelings of insecurity and inadequacy. It can be hard to face a problem like this head on, but avoidance will only prolong the problem. Observe your feelings on your finances and see if you’ve been keeping your head in the sand.
Read the entire article here: Why Do Materialists Worry About Their Finances?
Carrie Rattle is a Principal at BehavioralCents.com, a website for women focused on mind and money behaviors. She has worked in the financial services industry for 20+ years and hopes to inspire women to better prepare themselves for financial independence.