Page 12 - Dec 2021 ST
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Cover Story – A Psychologist’s View
Managing your own money,
property & other assets
Leading Chartered Psychologist and Counsellor Dr Monika M Dass
presents her view and advice on the all-critical money and property
matters
People differ in their attitudes about and A combination of personality traits
relationships with money. A healthy and states rather than a single trait or
attitude requires self-confidence, the ability state most often influences spending. A
to prioritise, save and, when necessary, trait is a permanent, stable personality
say “no”. Unfortunately, this does not characteristic and, in reference to spending,
describe a great many spenders who, includes such things as confidence,
according to Dr Brad Klontz of ‘Psychology persistence, patience and observance.
Today’, display self-destructive and self- A state is an emotional reaction such as
limiting financial behaviours characteristic anger, depression or frustration, the way a
of money disorders. Klontz relates the person typically reacts in a given situation.
development of money worshiping and Personality states also can be the root cause
money avoidance back to “financial of emotional spending, which alone or in
flashpoints” - painful or traumatic life combination with personality traits, can
events associated only with money. have devastating financial effects.
But others take a broader approach, Money worshipers range from money
incorporating all life events that affect and hoarders to compulsive shoppers. Financial
shape personalities. flashpoints such as childhood poverty or
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