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No one would disagree with or object to the three principles of-you should spend less than you earn, you should regularly save toward your goals, and you should buy and hold solid investments with an eye toward the long term. However, even though these points are widely known and accepted, millions of people still haven’t been able to overcome the financially detrimental behaviors preventing them from putting their knowledge into action and getting on the best financial path.

Single, isolated, or rare financial mistakes do not qualify as money disorders. Everyone makes a mistake every now and then. Rigid patterns of self-destructive financial behaviors that are persistent and predictable causing significant stress, anxiety, emotional distress, and impairment in major areas of one’s life are what we call money disorders. They stem from family dysfunction, emotional difficulties, coping strategies gone awry, profound painful childhood experiences, or—most often—a combination of these factors.

Total of 12 Money Disorders

There are 3 widely accepted pillars of Money Disorders as described in the book “Mind Over Money” written by Brad Klontz, psy.d. & Ted Klontz, ph.d. , and mostly in a book “Mind Over Money” of the same title written by Eric Tyson. They  are:

  1. Money Avoidance Disorders
  2. Money Worship Disorders
  3. Relational Money Disorders

Of these 3 main categories there are a total of 12 subcategories of money disorders; , , , , , , , , , , , . For a complete explanation of these money disorders, “Click Here To Download”

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Filed under: Business • credit • debt • Financial Services • Miscellaneous

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