Is Money Your Master or Your Servant?

The Other Side of the Coin

On the other hand, in good times and bad times, many people-both rich and poor-are relatively free of anxieties about money and material possessions. Why the difference? 

 In a report entitled The Meaning of  Money, the researchers observed that some people are "highly motivated by money and controlled by money. This may lead to stress and neuroticism."  In contrast, they added:  "Those who budget their money carefully tend to have internal locus of control and positive feelings toward themselves.  They are the  masters of money and not slaves of money . . . We assert that those who budget their money carefully may also have lower stress, and, thereby, lower strain."

What is your attitude toward money?  How does the volatile nature of the world's economy affect you?  Is money your master or your servant? Perhaps you do not experience the symptoms of the so-called money sickness syndrome. Still, whether wealthy or poor, we are all vulnerable to the ill effects of money worries.  Consider how adjustments in the way you handle your finances may bring you more peace of mind and a happier life.

Money may be your master if . . .   

* You avoid discussing finances because of the anxiety if causes

* Money is often the subject of family squabbles 

* You spend compulsively

* You worry constantly about bills

* You are not sure how much you earn

* You are not sure how much you spend

* You are not sure how much you owe

* Your bills are often bigger than what you expect

* You often pay your bills late

* You are able to make only  the minimum  payment on credit card bills

* You  pay your bills with money earmarked for other things

* You take on extra work just to pay bills

* You have taken  out new loans to pay off the old ones 

* You use savings to pay routine bills

* You find it nearly impossible to get to the end of the month without running out of money

* You feel pressure to accumulate large sums of money

* You suffer physically and/or psychological symptoms resulting from money-related stress


Next time: Manage Your Money Wisely

From the jw.org publications