For many people, talking about money is akin to talking about sex. It just isn’t done. It’s especially hard for family breadwinners, accustomed to taking care of things and overwhelmed when finances become a struggle.

Think about money and what it means to you? Is money a symbol of power and status or simply the currency you use to pay for life’s essentials? Do you buy things to impress people or because you have a genuine need?

Understanding your relationship with money can help you to get a handle on your finances and get the upper hand. Ask yourself some questions to see what kind of relationship you have with money?

Do you:
…keep tabs on your cash flow during the month or simply hope for the best and wait until the banking statement comes in?
…panic when a bill comes in you are unable to pay?
…reward yourself with purchases you can’t afford during stressful times?
…try to impress people with purchases you can’t really afford?
... know exactly how much you are in debt to the penny, or have no idea?
…talk abut money issues incessantly?
…feel offended when someone asks about your financial situation?

Think about your answers and how you felt answering the questions. Is your money style coming to light? Do you worry about money no matter how much you have, or are you more carefree, perhaps even careless?

Money is a strange topic. While it is always good to know where you stand financially, it is not good to obsess. Obsessing about what you owe and to who can add fuel to the fire, leading to medicinal spending that will dig you further and further into debt. It is stressful for you and for everyone around you. Ignoring your money problems is also a recipe for disaster.

Consider the reasons you spend money and what you spend it on. If ten people were given $200, they’d all spend it on entirely different things. Why? Because people are as different as their spending habits. Is there any wonder that money is a key issue at the root of many divorces nowadays?

Think about what you’d spend $200 of “found” money on. Would you put it towards paying down debt or would you splurge on dinner out? How you answer this question will provide you with valuable insight into your values and your relationship with money.