By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > Finance > Opinion: How to know if you’re living with a ‘money-avoider’
Finance

Opinion: How to know if you’re living with a ‘money-avoider’

News Room
Last updated: 2023/06/07 at 8:42 AM
By News Room
Share
4 Min Read
SHARE

It makes sense to avoid conversations about money when they arise because of money problems. Who wants to argue, let alone about money? 

Dodging a dispute with your partner about a problem with money is not the same as avoiding money conversations altogether. There are many reasons why this stonewalling might be happening. Perhaps a spouse is a financial abuser or is committing financial infidelity. Or maybe your partner could be a “money-avoider.”

Money-avoiders often see money as a force that stirs fear, anxiety or disgust. The extent to which such feelings cause them to put their heads in the sand can improve over time, but some marriages cannot wait. Help is needed now. 

Money avoidance can derive from several factors:

Psychological factors: Money avoidance can be linked to underlying psychological issues such as anxiety, depression or trauma. For some individuals, dealing with money triggers feelings of shame, guilt, or inadequacy, which can be overwhelming and lead to avoidance behaviors.

Lack of financial literacy: Many people may feel overwhelmed by financial matters simply because they lack the knowledge and skills to manage their money effectively. Many of us graduated having learned the Pythagorean theorem but not how to build our credit scores. This can lead to feelings of confusion and helplessness, which can lead to avoidance.

Fear of making mistakes: Some people may avoid dealing with money because they fear making mistakes, such as overspending, taking on too much debt, or making poor investment decisions. Women disproportionately show lower levels of financial confidence, which can manifest into fear so paralyzing it can prevent them from taking any action.

Procrastination and personal values and beliefs could also be reasons for money avoidance. 

“ The financial consequences of money avoidance are costly. ”

The financial consequences of money avoidance are costly. Research has indicated that disordered money behaviors such as financial denial, financial rejection, underspending, and excessive risk aversion may result from money-avoidant money scripts.

In other words, money avoidance creates unpleasant feelings that lead to bad financial decisions rather than making financial decisions that make us feel happier and more secure.

Whatever the reason, experts recommend specific strategies to talk to your partner about money, including speaking openly, honestly, regularly and proactively about money. 

Our bodies will experience physical changes while amid a stressful conversation about money. Our heart rate increases and our temperature changes. In these moments, we need to be particularly mindful of what we are saying and be willing to take a break if the conversation becomes overwhelming.

Understanding our own relationship with money, let alone our partner’s, can be complicated. Hiring a financial therapist could be a way for couples who can’t find a way to have productive and transparent conversations about finances. 

Whether you and your partner can talk between yourselves or need professional help, what’s clear is that refusing to talk about money can only end badly for the both of you.

Brian Page is the founder of Modern Husbands, which provides men with advice about money, marriage and family matters.

More: Should couples combine finances or keep separate accounts? One option leads to a happier marriage, study finds.

Plus: ‘Taking care of your money doesn’t happen by itself’: How NFL star Austin Ekeler brings his ‘A’ game to his personal finances

Read the full article here

News Room June 7, 2023 June 7, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Retail investors reap big gains from ‘buying the dip’ in US stocks

Stay informed with free updatesSimply sign up to the US equities myFT…

Israel to join ceasefire talks despite ‘unacceptable’ response from Hamas

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Tesla and China: EV maker is facing competition like never before, analyst says

Watch full video on YouTube

How Tariffs Will Make Everything More Expensive In The U.S. | CNBC Marathon

Watch full video on YouTube

Texas flash flood claims at least 24 lives

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

- Advertisement -
Ad imageAd image

You Might Also Like

Finance

4 Ways To Avoid Fake Shipping Fee Swindles

By News Room
Finance

Dell Supports Endeavor Miami’s Quest To Empower Black Founders

By News Room
Finance

The World’s 10 Most Expensive Cities To Live

By News Room
Finance

Biden Sends Student Loan Forgiveness Emails To 800,000 Borrowers

By News Room
Finance

New Student Loan Forgiveness Application For Those With Medical Issues

By News Room
Finance

Who Really Owns Nursing Homes, And How The Feds Are About To Learn More

By News Room
Finance

Gone Are America’s Cushiest Federal Prisons

By News Room
Finance

Can You Still Get Insurance After A Cancer Diagnosis?

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?