Wealth is everybody’s goal. Well, almost everybody’s goal—only so we can both agree that this statement is undeniable. There is the good and the bad side of living in wealth. You can start off with your dreams, which of course consist of all the conveniences life has to offer you. And certainly there are consequences you might not have experienced before; they may catch you by surprise.
Do you love money? It doesn’t matter whether you’re still on your way to financial freedom or you’re already enjoying it. I’d like to believe that our perception on money doesn’t change much from the time we started only dreaming about it until the time it becomes a reality. The main question now, regardless of many other factors, would be: What is money to you?
You know money can make life comfortable, for plenty of reasons that can’t be covered on a single post. But I’d like to talk about six points you should remember if you noticed your general attitude has changed a bit simply because you love money.
1. Money can make you less sociable.
A study showed, through a series of experiments, that money can affect social interactions in a not-so-positive way. The participants who thought primarily of money tended not to help others who were in need and would rather work alone.
Did you know that wealthy people can less likely detect other people’s emotions? It was found that people who don’t have much can read others’ facial expressions more than the upper class can. This is an evidence that would suggest that as someone’s wealth increases, their level of compassion for others decreases.
I reckon, though, that if wealthy people were asked to imagine they were living the opposite lifestyle, their response would change.
You could be caught up in a routine in which money becomes your only priority. When you love money, it may consume you to neglect or disregard the other aspects of your life.
Take a long break from time to time to reflect upon your regular schedules. Check whether you need some changes. Perhaps you need to postpone a business activity just to catch up with your closest friends who, by the way, have been waiting for you for long to show up.
2. Money can corrupt your moral judgment.
This is a case, I would say, for people presented with many choices. We know that crimes are committed by people who really need money. They are the people who don’t have much of a choice.
A study showed that drivers of luxury cars were less likely to hit the brakes than those who drove less expensive cars to give way for pedestrians or even for fellow motorists.
A sort of pride may cloud your moral judgment and that pride may be fed by money. How would you want to project a wealthy or successful image anyway? That must be a satisfying representation.
Remember, nevertheless, to stick with your moral principles. You have learned about them without money in your head to decide whether they were acceptable. Your set of moral principles way before you have first earned your money must be the same after. Imagine if you lost all your bank accounts, how would your moral judgment go?
3. Money can affect your work performance.
An interesting study showed that the more CEOs are paid, the worse their company performs over the next three years. The main problem that would most likely surface is overconfidence.
Now, you may not be a CEO or some high-ranking executive, but keep working on your responsibilities as if you’re not getting your paycheck, as if you don’t love money at all, as silly as it may sound. But assuming you’re already on your life’s path, don’t make decisions impulsively, when you are overconfident that all your decisions are right simply because you goofily think that the amount of money you have would affirm them. Whether you are happy with your pay, the decisions you make should beg only for nothing but good decisions. Don’t let money get into your head to not consider what could potentially hurt your job or business. Take risks, but not at the expense of becoming arrogantly confident.
4. Money can get you addicted to it.
Similar to chemical addiction, money can bring you to a “high” which would keep you wanting for more. A change in brain chemistry occurs when you allow yourself to get hooked with money. It is the same change that comes about for those addicted to gambling, food or drugs.
Addictions can be hard to cure, but in some cases, the addicts can’t be blamed. The environment could simply be too invading to resist. However, money can be perceived as a privilege rather than being associated with some negative conditions.
The effects when you turn addicted to money could potentially be as dangerous as other types of addictions. In case you get addicted to it, you’d probably have not much control over the other important things in your life. This would yield an imbalance.
5. Money is not a good motivator.
Research found that the link between money and the performance of workers could be complex to make conclusions on. But it is suggested that money could demotivate more than motivate. Intrinsic motivation is much more needed than extrinsic incentives. The study even suggested that even though people had the option to choose the rate they wanted, the enjoyment in their job wouldn’t change. Now we can’t really say that these people don’t love money, but this conclusion could simply be vain.
I don’t believe in placing my hopes on extrinsic motivation. They exist, but they all root in intrinsic motivation, which we can work out on. We can be motivated, according to our passions and visions, without necessarily looking for extrinsic incentives. Extrinsic incentives may only leave us frustrated without developing the right attitude and traits in the first place.
Money can buy your material needs and wants, but remember that money is also an extrinsic motivator that may only cloud your true purpose in life. If anything, money can also be the reason you’re not enjoying your job.
Review your values. Remember why you want the money. There must be something beyond your financial goals. If you decide that money would end the game, would you be truly happy?
6. Money can’t buy happiness.
Money is linked to unhappiness due to the constant dissatisfaction after never-ending attempts of achieving financial goals that only get higher and more challenging every time. Materialism may also yield unhealthy relationships with which money is also used to cover for that same inconvenience. Money would be utilized to cope with pressing times such as these, but it only becomes a remedy and nothing more.
It’s important to take care of your physical and mental health, your relationships with others and your personal development. Think that money should come second, however you love money, only next to the benefits you gain from building your character.
Think About It
Money can make you feel good, alright. It could make your world go round. Responding to money that way must already be in our nature, as numerous studies have come to suggest. But in reality, money is simply a test of character. If you don’t have it, you change some of your habits that could be keeping you from reaching financial success. If you have too much of it, you better use it for the right reasons. Though the challenge may seem to rest on the affluents’ shoulders, those six reminders apply to everyone. As I said earlier, our character may not easily change or improve; how you saw money ten years ago would most likely be the same as how you would now.
So, how much do you love money?
Speak Your Mind
Reflect for a moment. How do you see money? Did I miss something that we should watch out for when it comes to it? Tell us about it below!