Financial Psychology Center

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Lilian Yoffee

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Money and Self-care

Laying on the beach, not thinking about the 9 to 5, or having an endless pot of money. All things we would love to have and do during our hard earned summer vacation. However, for many if not all, satisfying all of these visions is close to impossible. Money – or the lack thereof – acts as a constant reminder for our need to work, regardless of the harm working too hard could do to our health . The changes the workforce has seen due to the pandemic  has led to a new wave of stress for workers which can further amplify anxiety caused by  money issues.. As we enter the latter half of summer, we will dive into the current state of the economy and how it affects the working population.

We can begin with the discussion on the workers are that underearning. This, as simple as it sounds, encompasses more than the monetary gain that one obtains from working. In this case not only is the worker’s earning not enough, but their joy, happiness and self-esteem take a hit as well.. Time is also a crucial element jeopardised by this type of earning.1 Some of the common traits of those that are underearning are, but are not limited to, this list: chaotic financial timeline, iffiness surrounding money, self-sabotage, etc. Interestingly, a person who is earning more can be an underearner while another person who is making less money is not necessarily one. This further demonstrates that it is not quite the lack of money that is causing a chaotic relationship with money, but rather the mindset towards it.

Similarly, inflation can lead workers to house a negative and pessimistic mindset. Some can have a scarcity mindset where no amount of money, wealth, or time will be enough; therefore, it leads to an unhappy and uncertain future. Some even describe it as an obsession with the lack of something.2 Not only is continual belief of this mindset destabilising,  , it also prevents people from achieving their financial goals. It halts growth and learning that is possible within the realm of the earning-spending stratosphere, something that is required to grow one’s financial portfolio. On the other side of the spectrum, there are overspenders that do not care about the inflationary increase in prices, maintaining the exact same spending habits. Some may even classify this type of action as “retail therapy” or “good for one’s mental health”. It is a difficult line to draw especially in this day and age where mental health has finally begun to get the awareness it deserves. However, a clever adaptation to the new market can lead to sustaining a healthy work-life balance and mindset. Although there is no one correct way to approach inflation, it is always important to recognize the two extremes and aim to stay away from them, or better yet: in between them.

When those extremes are reached, any semblance of a healthy work-life balance is lost. In some cases, the work takes over one’s life, focusing on financial gain at the expense of  a healthy mindset or much needed relaxation. On the other hand, some may make excuses in the name of mental health to spend as much as possible, which only leads to instant gratification and long term stress and anxiety due to the lack of financial stability. The destruction of this balance was often seen due to a shift in workspace where the comfort of one’s home suddenly became an office cubicle. The degree of separation between work and life vanished overnight.

What makes us unique as humans  is our ability to adapt. Adaptation to financial stress, or even significant financial loss is also part of what makes us human. The pandemic continues to push our limit but we have stood strong, despite the countless worrisome nights and stressful days. One thing to keep in mind is that as much as money is a priority, we need to be our biggest advocate. Once again, money alone cannot look out for us as much as we can for ourselves.

  1. Stanny, B. (2011, October 3). 7 signs you’re an Underearner. Forbes. Retrieved July 26, 2022, from https://www.forbes.com/sites/barbarastanny/2011/10/03/7-signs-youre-an-underearner/?sh=5130d315265a
  2. Yale, A. J. (2022, March 7). What to know about the scarcity mindset and how it affects women and their finances – and 6 ways to avoid it. Business Insider. Retrieved July 26, 2022, from https://www.businessinsider.com/personal-finance/scarcity-mindset

 

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Unemployment and Underemployment

How do you measure your self-worth?

After enduring two brutal, pandemic-filled years, it now seems foolish for the world to have proudly concluded that things are finally going back to ‘normal’. The workforce seems to be a little more complex than that.1 Changes in the workforce have left a lasting impact not only on the work environment, but on the psyche of the individuals who are now dealing with concerns over both unemployment and underemployment. The pandemic saw unemployment and underemployment rise as skilled workers were both forced out of the professional world, and some left voluntarily to pursue income from the gig economy. The ones coming back are demanding new conditions to match their post-COVID perspective.

Unemployment describes a situation where one is not employed while underemployment describes the situation when an employee works fewer hours than usual in their specialty.2 In addition, invisible underemployment touches on people that put in the hours but do not use their skills. In both cases, it is important to look not only at the financial but emotional and behavioural adversities that follow these events in order to fully understand the adverse consequences. This also allows for more personalised solutions to be suggested by professionals for workers to overcome these major life challenges.

Peggy was a principal of a school when COVID started, but through changes in leadership due to the pandemic, her contract was not renewed and she found herself unemployed. Peggy was at a crossroads in her life having been a school principal for the previous seven years but knowing she wasn’t really enjoying. Her finances were in such a state that she couldn’t afford a lower paying job, even though her ideal situation was working less hours and having more time in her garden. Peggy spent the summer talking to a financial therapist and re-evaluating her life, her sense of self, and redefining what she truly needed to feel happy and fulfilled. After a lot of deep psychology work, Peggy was able to restructure her entire financial life, sell some assets to pay off debt. She moved to a reading tutor’s job at a new school and found the more she engaged directly with the children she wanted to teach, the better she felt. This new perspective tied her self-worth to direct childhood education and helping youth from a hands-on angle, rather than the more complex but less rewarding position of school administrator. At first Peggy had to detach from her self-image of being a principal and the esteem she had attached to that role in life. Once she could free her mind, Peggy was able to seek out what truly fed her heart. This led to what some people would consider “underemployment” or a lesser skilled and lesser income position. However, once Peggy had systematically addressed her finances, she right-sized her financial needs to match a lesser paying but more fulfilling role. In this case, Peggy used financial psychology to deal with the fear of unemployment, the stress of debt, and choice of employment to live a fuller, happier life.

It is quite obvious that both unemployment and underemployment lead to financial trouble. If you are not working, earning money becomes a struggle. Behaviors stemming from denial and indifference can surface throughout this process as financial losses can affect one’s view on money in negative ways most of the time. In the realm of financial psychology, the focus is not necessarily on the financial losses, but rather the emotions you attach to financial loss. Not only can it demolish one’s confidence, it can compound negatively, fundamentally altering their life course. When Peggy first found out her contract was not going to be renewed, this through her into abject financial fear and certainty that the only solution was to find another principal’s position. It was only through careful analysis of her situation and staying calm in the face of fear that she was able to discern the choice that best matched her heart’s desire.

Dooley et al., demonstrated that cases of underemployment and unemployment are highly correlated with depression compared to those that are fully employed.3 Furthermore, self-esteem and self-worth are in question during unemployment, which leads to negative emotions, anxious thoughts and self-doubt.4 Although we as a society put up a front of separating money and worth, it is typical to see those two aspects still entangled together. This perpetuates the defeatist view where money defines self-worth. When Peggy analysed what she truly wanted in life, to support youth through education, she realized a reading teacher’s position was the best choice for her personal fulfilment and would still support her self-worth.

One thing many would do in this same situation is lose their positive outlook. This can lead to depression, negativity, victim-outlook and other points of view that would aggravate the situation even more. Peggy dealt with this head-on. She gave herself time to grieve the loss of her job and recognized the trauma she had endured from that experience. By using emotional neutrality, she was able to find the equanimous place within herself to stabilize and centralize her energy around her own self-worth separate from her income.

Financial psychology provided the clarity Peggy needed to see that when one financial avenue closes, another one opens. It is important to remind yourself money is not in the background of self-worth. However, a reflection of yourself can be seen through how you react and deal with financial hardships.

 

  1. Tracking the COVID-19 economy’s effects on food, housing, and employment hardships. Center on Budget and Policy Priorities. (n.d.). Retrieved May 10, 2022, from https://www.cbpp.org/research/poverty-and-inequality/tracking-the-covid-19-economys-effects-on-food-housing-and#:~:text=The%20unemployment%20rate%20jumped%20in,2021%20than%20in%20February%202020.
  2. Hayes, A. (2022, May 3). Unemployment definition and types. Investopedia. Retrieved May 10, 2022, from https://www.investopedia.com/terms/u/unemployment.asp
  3. Dooley D, Prause J, Ham-Rowbottom KA. Underemployment and depression: longitudinal relationships. Journal of Health and Social Behaviour. 2000 Dec; 41(4):421-36.
  4. Goldsmith, A., & Diette, T. (n.d.). Exploring the link between unemployment and mental health outcomes. American Psychological Association. Retrieved May 10, 2022, from https://www.apa.org/pi/ses/resources/indicator/2012/04/unemployment

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What Makes our Ship Sail – The intersection between emotional neutrality and mindfulness

Georgia is a person of resilience and determination, both with her dreams and goals, and her emotions. Supporting a family of 5, financial success carried paramount weight for her. Regardless of how much she worked or how tired she was, she kept going. But one thing that seemed to be in her way was letting bad days takeover everything she was doing. Whether it be her behaviour at work or at home, a single unforeseen negative outcome was enough to develop an inner monster that would control everything she felt and did for the rest of the day. But she simply did not have enough time to address this recurring issue. She tried forcing herself to remain happy, ignoring all the negative circumstances.  

That didn’t work either.

Georgia is not alone in her experience. Our emotions can play a substantial role in our behaviour and actions. But only if we let it. Nowadays, positive emotions are considered to be the opposite of negative emotions. Wherever we want to escape reality, we cope by overshadowing the sorrow and pain of reality with an excessive amount of positivity – similar to a drug. It might simply be human nature to have the desire to feel happy in the midst of stress and confusion after all. However, forcing positivity is not the answer to this problem in the case where the problem lies in your strong emotions affecting your behaviours. As simple as balancing an old fashioned scale with two things on both sides, a balance can also be maintained when making decisions between emotions and logic, in addition to preserving emotional stability. The key aspect of this equilibrium can be achieved by practising mindfulness and emotional neutrality.

Mindfulness is an attainable quality of being fully aware of what you are feeling in the moment.1 In this fast-paced lifestyle we live in, it can be difficult acknowledge your emotions without judgement or criticism.2 However, this quality can help establish a link between your emotions and your reason without either of them affecting the other. This provides an outlook in life that is more than surviving, rather for flourishing and growing.3 On the other hand, emotional neutrality is the process of removing polarising emotions from the financial decision making realm. It allows us to use the skill of mindfulness to discern our emotions from our logic in order to prevent our emotions from hijacking the decision making process and turning a blind eye to reality. By getting in touch with our emotions through mindfulness, we can practice emotional neutrality which lets us face our troubles without bias created by a skewed view of reality.

However, this should not be confused with the stigma around money that our emotions are insignificant in any aspect of risk management. Our emotions are a unique dataset that gives us insights on how we perceive our reality. Although it is crucial to distinguish that they are not a reflection of reality, it still is an important indicator of where you are mentally. For some, financial decisions can bring out anxious and stressful thoughts more than others. Rather than brushing them off and ignoring them as something “subjective”, you can use it as a starting point as to why it is demanding and where those emotions are coming from – it allows us to dig down to the roots to identify the original source of the problem. By doing so, the need of creating a false reality diminishes to the point where you don’t have to be scared of feeling something and affecting you uncontrollably.

Going back to Georgia, we see that she tried to compensate her sadness and struggles with false happiness. We now know how that is a Band-Aid solution without a permanent benefit. It is good to feel the ups, but it is important to feel the lows to know where you stand. Because without the ocean full of emotions, the ship won’t sail.

References:

    1. Mayo Foundation for Medical Education and Research. (2020, September 15). Can mindfulness exercises help me? Mayo Clinic. Retrieved March 14, 2022, from https://www.mayoclinic.org/healthy-lifestyle/consumer-health/in-depth/mindfulness-exercises/art-20046356
    2. KOREN, A. D. A. M., & MARKLE, E. L. I. Z. A. B. E. T. H. (2022, January 14). 4 ways to bring mindfulness to your money habits. Mindful. Retrieved March 14, 2022, from https://www.mindful.org/4-ways-to-bring-mindfulness-to-your-money-habits/
    3. Sutton, J. (2021, December 7). The importance of mindfulness: 20+ reasons to practice mindfulness. PositivePsychology.com. Retrieved March 14, 2022, from https://positivepsychology.com/importance-of-mindfulness/

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Is work multilingual

Work Culture: The Dark Side 

Despite the constant reminder of prioritizing mental health over productivity and efficiency at work, there seems to be a barrier between understanding the concept and applying it to real life. Regardless of what the job is, workplace culture has an enormous effect on the worker’s wellbeing within and outside the organization. While personal values and beliefs definitely play a role in determining the atmosphere of the environment, there are societal and cultural influence that are strong and major when it comes to affecting the work culture beyond personal preferences and beliefs.  Societal and cultural expectations and values, whether they are good for one’s mental health or not, can have a big impact as that may be where the worker’s values and beliefs stem from, in addition to being one of the foundations of these organizations. As cultural values are ingrained in society, it can add to the difficulty of shifting one’s mentality around working, despite some of the negative consequences.

Interesting thing about culture is that while there is no rule book or a manual that is religiously followed, there are evident similarities and differences between cultures that manifest into certain values and beliefs grouped together and transcend through different aspects of society, such as the work force, education system, and many more. We can also look at our identity, including establishment of our own values and beliefs, through the lens of culture and come to the realization that these cultural norms help build the basis of our narrative. Since we are the ones working in the community, these values and beliefs shape the organization and network. Workaholism, which is also known as work addiction, can definitely be affected by the nature of the community.

Priorities surrounding work ethic differs between societies. Today, we will look at America, Russia, and Japan. In the United States, for example, Work Confidence Survey reported that nearly 40% of workers report a lack of time for their personal lives.1 Additionally, Bryan Robinson, an American psychotherapist, questions why mental health and efficacy in work is considered mutually exclusive when it is completely possible to coexist.1 With the continuous rise of dissatisfaction towards working environments, it may become more evident that lack of health, whether it be physical or mental, support is one of the leading reasons for it. On the other hand, the Russian work ethic takes a different turn. Experiences during the Soviet continue to have an influence on the workers today.2 A saying that is at the bottom of all this Russian work ethic is as follows: “initiative is punishable”. Under the communist regime, individual dynamics and incentive was chastised, and this mentality is still deeply rooted in the form of collectivism where workers try to finish the task with least effort.2 This is quite different from the Japanese work ethic where Japanese workers thrive on working together as teams. Many of them seek approval from their superiors prior to important and significant commitments made.3 The group mentality is much more prominent than focusing on individual workers, which is what the American work ethic adopts.

Throughout this comparison, we see that various culture embrace a variety of work ethics that tends to be consistent among communities. As someone who has lived in two different countries with another cultural background, it is evident that the work ethics and the mentality of the workers differ drastically. It can also be taxing to adapt from one environment to another as these work cultures are shaped by and will shape one’s beliefs and values that one carries for a long time.

While our values and belief shape our behaviour, our emotions are at the foundation of that. It is a means by which to understand our inner state. Acknowledging the data that we have curated ourselves can help mitigate the negative mindset we may have towards work. Feeling trapped at work can physically, emotionally, and financially drain you without even realizing. Understanding one’s cultural heritage can aid in:

  • Introspection regarding work – life balance
  • Taking advantage of an already existing framework to make financial decisions that are aligned with your true values and beliefs
  • Realizing any positive/toxic work cultures that may be beneficial / detrimental for you and act upon it

Culture is a part of us and should not be ashamed of it. It can open your eyes to more views, perspectives, and values that you may not have considered and widen your horizon to make better and smarter decisions emotionally, and financially.

  1. Robinson, B. (2019, October 21). The turbulent and TOXIC state of the Nation’s Work Culture: What you absolutely must know and do. Forbes. Retrieved September 28, 2021, from https://www.forbes.com/sites/bryanrobinson/2019/10/21/the-turbulent-and-toxic-state-of-the-nations-work-culture-what-you-absolutely-must-know-and-do/?sh=1c14934b4564.
  2. Новые известия(en). (2021, August 19). Work is not A WOLF… how the Russian work Ethic differs from western and Japanese. en.newizv.ru. Retrieved September 28, 2021, from https://en.newizv.ru/article/general/19-08-2021/work-is-not-a-wolf-how-the-russian-work-ethic-differs-from-western-and-japanese.
  3. Merchant, Y. S. (2018, April 5). 5 major differences between Japanese and American workplaces. Business Insider. Retrieved September 28, 2021, from https://www.businessinsider.com/differences-between-japanese-and-american-work-culture-2018-3#japanese-workplaces-are-more-formal-1.

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Back to school! But are we back to normal?

As we enter August and approach Labor day in September, it serves as a reminder for all of us that another school year is starting. Whether it be for a worker, student, or parent, it can act as a transitional time period where it is a new beginning. However, this year’s “back to school” era is a little different for all. After a whole year and a half of the pandemic, many experienced major changes, psychologically and financially. In many countries including the United States and Canada, industries are aiming for the following year to be close to where we used to be, or almost “back to normal”. However, we are all aware of all the adjustments we have made and continue to make to tackle the pandemic. Despite its positive connotation of society’s return to its past state, we are continuously reminded of the losses and the changes of the past year. With an altered mindset due to the urgent need to readjust to a new reality, this year’s “back to school” season will look different.

In the U.S., the unemployment rate rose from 3.8% in February of 2020 to 13.0% in May of 2020.1 Internationally, the pandemic provoked the loss of 225 million jobs. Many people experienced an unprecedented loss of jobs and income. A financially and psychologically traumatic incidence in addition to the already existing pandemic which is extremely distressful on its own. A study by Griffiths reported an association of poor mental and physical health with job loss during the pandemic.2 This trend can be credited to the lack of social interactions and also a decrease in financial assets. It is quite frightening to see the number of people whose life was flipped upside down int he matter of days. Additionally, some have been able to work from home for the past year and a half and this return to normalcy can induce a different kind of stress. While working from home was an adjustment in itself, returning to an office is also another adaptation that can be uncomfortable for some workers.3 However, the fear of financial instability is another strong and prevalent factor that one cannot ignore, especially after the past year.

Similar to these workers, students at all levels have encountered various obstacles due to the pandemic. For students, socialization is critical for their development, especially at young ages. For post-secondary students, as student debt was already a recurring issue for many, the pandemic had an adverse effect on their sense of financial security. According to a survey conducted by Temple University, one out of three students had lost their job due to the pandemic.4 Additionally, the 2020 College Student Financial Survey reported that approximately 13.3 million undergraduate students disclosed that the pandemic has changed their outlook on their financial status in the future.5 While the excitement of being able to return to in-person classes and resume a semblance of normalcy is immense, the financial stress can be a large factor in their decision-making. Maintaining a balance between the excitement of returning to a social realm and money issues that have accumulated over the past year would be crucial in establishing a healthy relationship with money.

What does this mean to all of us?

This means that regardless of where you are in life, there is a level of adjustment we must go through. The psychological damage that has been done over the past year can translate into financial stress, especially during this transitional season. While some men think that forgetting what happened in the past year and a half is the best solution, that is unfeasible and would also not be as helpful as we think. Learning from what we have gone through individually and as a society can help us acknowledge and understand the emotional trauma from the past and manage financial behavior in the future. Strategies such as:

⦁ Acknowledge the experiences in the past and do not underplay it
⦁ Fully be aware of the changes that may come your way as much as possible

There is no way to predict all the emotional turmoil that this new transition can bring, psychologically and financially. However, the unfamiliarity and uncertainty of money decisions are bound to happen for all. It is crucial to accept the emotions surrounding these decisions before shutting them out and just solely focusing on the quantitative aspect of money. Welcome to back to school, but more like back to the new normal.

⦁ Kochhar, R. (2020, August 26). Unemployment rose higher in three months of COVID-19 than it did in two years of the Great Recession. Pew Research Center.

https://www.pewresearch.org/fact-tank/2020/06/11/unemployment-rose-higher-in-three-months-of-covid-19-than-it-did-in-two-years-of-the-great-recession/.

⦁ Griffiths, D., Sheehan, L., van Vreden, C., Petrie, D., Grant, G., Whiteford, P., R Sim, M., & Collie, A. (2020). The impact of work loss on mental and physical health during the Covid-19 pandemic: Findings from a prospective cohort study. Journal of Occupational Rehabilitation, 31, 455–462.

https://doi.org/10.1101/2020.09.06.20189514

⦁ Caine, P. (2021, March 11). After a year of remote life, new anxiety emerges: Returning to work. WTTW News.

https://news.wttw.com/2021/03/11/after-year-remote-life-new-anxiety-emerges-returning-work.

⦁ Saul, S. (2021, April 1). For many college students, pandemic life is disappointing. for others, it is a financial crisis. The New York Times.

https://www.nytimes.com/2021/03/30/world/college-students-economic-struggle.html.

⦁ Dickler, J. (2020, August 31). Due to PANDEMIC, more than 13 million college students are worried about their financial future: Study. CNBC.

https://www.cnbc.com/2020/08/31/majority-of-college-students-are-worried-about-money-due-to-covid-19.html.

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What is enough: Financial Independence

The link between money and value has been well established by the field of economics. But correlation of money and personal value as a function of self-esteem and self-worth has largely remained unexplored. In North America, one of the leading capitalist society in the world, economic and financial values are tied to the worth of an individual, despite the multitude of qualities that person may possess. Since the late 1900’s, the American economic expansion has resulted in the current system, where accumulation of wealth is synonymous with process and growth.1 If history has shown us anything, it is that rendering humans to a series of numbers is anything but good. By understanding how money can be used judiciously, we can begin to reassociate the pricelessness of individuality to human value. This can help us understand that financial independence can be achieved without having countless streams of incomes, or having the status of a billionaire. We can contextualize what financial independence means by looking at the aspects of money that relate to each of our unique experiences. In other words, how much is enough for each of us, individually.

Financial independence can mean one has enough wealth to live comfortably without working for the rest of their life.2 That is the meaning of independence from a purely wealth-based point of view; how much money one has accumulated. However, it can also represent one’s ability to manage their money well, allowing them to live a relatively comfortable life. This psychological perspective takes into account one’s spending habits, cultural narrative, socio-economic factors, and many more layers, demonstrating that independence can be achieved without tons of money. We will be focusing on the latter standpoint of financial independence.

Spending and earning are the baselines of managing one’s finances. As people start working, they understand the value of money by earning independently as well as spending a set amount on their needs and wants. Establishing a healthy financial habit does not only encompass the significance of earning, but it also emphasizes how keeping spending under control is a preventative measure for looming financial trauma. Financial well-being does not have to revolve around a minimalist lifestyle. It is a balance to be established around your necessities, as well as one’s physical and emotional health. Therefore, one’s financial independence is unique to each person’s situation. For instance, when comparing a student to an entrepreneur, financial independence will look different for each, seeing that their priorities and financial status are unalike to say the least. While the mentality of success might be present in both cases, spending money on traditional education, in this case, is a cost that an entrepreneur would not think of. Conversely, the student is not burdened by the need to reinvest into their business even at the expense of one’s own financial independence. The earning capacity of a student varies from what an entrepreneur can earn. Cultural backgrounds and upbringing also affect one’s outlook on their definition of financial success and independence. Knowing that a financially fulfilling and sufficient lifestyle is unique to each individual is crucial in managing their spending.

For many, financial independence as described above is feasible. However, changing certain habits throughout this personal journey can be the most challenging aspect of attaining financial independence. Change in behaviour is quite complex due to the unfamiliarity when implementing a new set of habits.3 Scientifically, once a neuronal pattern of firing has been formed with a set of habits, it is then ingrained in our brain. Difficulty of breaking financial habits comes with psychological pressure we put on ourselves in order to make changes in our behaviour.4 The result is negative emotional experience accompanied by self-judgement, guilt, perfectionism and fear. Moreover, acknowledging and learning how to tackle the obstacles that come our way during this change is also important when trying to improve one’s financial habits.4 When we face a hurdle in this process, our internal critique come out to label these unwanted behaviours as lazy or stubborn.4 However, it is in these exact moments that self-care, self-reflection, and problem-solving skills are required, to get through the impasse. It is not necessarily perfection that can establish a healthy relationship with money, rather starting with small changes in order to create a habit that is conducive to one’s lifestyle.

Overspending and underspending are financial behaviours that many partake in despite its potential damage to one’s financial, mental, and physical health. In many cases, these behaviours mask the true source of these actions, such as stress, psychological pain, or trauma. Adopting a new habit not only tackles the superficial problem of spending too much or too little, but it also addresses the psychological source of the behaviour. Understanding the “why” behind this new habit will make it a lot easier to continue managing and implementing these new actions and not do them mindlessly.

When do you know you are financially independent?

If you are solely looking at the number, it is quite simple to see if you can maintain a comfortable lifestyle with the current saving. However, from a psychological perspective, financial independence is not a moment or a day. It is a continuous action, a lifestyle, to build a healthy relationship with money in ways that you are in control.

– Acknowledging bad financial habits and replacing them with good ones
– Separate money from your worth
– Know what is financially enough for you
– Stop comparing yourself to others

These are a few pointers to start us all on our way to financial independence. Our inclination of using money as a measure of growth and self-worth is embedded in our society. Neglecting the importance and power of money will not do us any good. It’s weight, however, should never exceed one’s worth nor ability to think for oneself.
1. Cook, E. (2017, October 20). How Money Became the Measure of Everything. The Atlantic. https://www.theatlantic.com/business/archive/2017/10/money-measure-everything-pricing-progress/543345/.
2. Probasco, J. (2021, July 1). Declare Your Own Financial Independence Day. Investopedia. https://www.investopedia.com/financial-edge/0611/declare-your-own-financial-independence-day.aspx.
3. Call, M. (n.d.). Why is Behavior Change So Hard? https://accelerate.uofuhealth.utah.edu/resilience/why-is-behavior-change-so-hard.
4. Jaffe, A. (n.d.). Why Is It So Hard to Change Bad Habits?Adi Jaffe Ph.D. Psychology Today. https://www.psychologytoday.com/ca/blog/all-about-addiction/201903/why-is-it-so-hard-change-bad-habits.