Psychology of Money: 21

In an earlier blog I mentioned Gallo’s 3-d model of personal finance. As I’ve already confessed my defects cluster around the money management dimension. In 2nd place I’ve some spending weaknesses and in 3rd place comes acquisition. I rank them that way ’round because the money management issue is grotesquely blatant. The stories I could tell would invite every hacker in the world to have a go at my bank account since let’s be honest what are the chances I’d ever notice something happening to it.

I neglect all things financial for as long as possible until some sort of crisis forces my hand and I have to face up to some matter or another. My issues are not about debt and I am not a compulsive shopper. But what I hadn’t realised before I started blogging is that should I decide to mend my ways the ranking of my money madness flips 180 degrees.

I know I can manage my money better. It’s not hard. I’ve done it before. I know I can spend less, it won’t be fun, but neither will it traumatise me. But learn how to acquire more money or acquire money more effectively? That, I’d find not just difficult but extremely uncomfortable. How would I do that? So in a way money acquisition is my worst problem, it’s the area where I’m least equipped to act differently.

That probably explains why I’ve always found budgeting so pointless and depressing. The left hand side of the column seems to be out of my control. And I console myself about that by letting the right side run wild.

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