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The Disciplined Trader

'Market and Human' Psychology perspectives with tips on how to avoid common mistakes by Pierre Charlebois, Senior Trading Coach at www.TradingPostFinancial.com

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Is your relationship to Money ‘Healthy’?

Posted on October 21, 2008 at 11:47 in Uncategorized by Pierre Charlebois

I came across some old notes about how people all have a different relationship to money and that most of us have an unhealthy one.

This is just a crude self test and doesn’t address all of what one should do to discover their personal relationship with money however it is very telling if we ask ourselves what we think when we reflect on other peoples financial success. The bigger question of course is will we think of ourselves the same way as we become financially independent or perhaps is this keeping us from having greater wealth?

Read the questions below and just answer them for yourself. Observe if you learn from your answers.

  • Money is the root of all evil
  • It’s more righteous to be poor than rich
  • Most rich people probably did something bad or dishonest to get their money
  • Getting rich takes too much work and struggle
  • Striving for wealth won’t allow me much time for anything else in life
  • If I really strive for wealth and don’t succeed I’ll fell like a failure
  • Being successful is a matter of luck or fate
  • I don’t have time to manage money

One Response to “Is your relationship to Money ‘Healthy’?”

  1. on 21 Oct 2008 at 1:33 pm1Christian

    Hi Pierre,

    What I have learned from my answers is that there are two questions requiring a more nuanced answer than just yes or no. #3 Doing something bad or dishonest is quite subjective as it refers to one’s values. I would say that certainly a lot of people got rich by bending the rules to a certain limit. Being good or bad in that case is a matter of personal view. #7 has certainly a bit of true into it. People who think luck has got nothing to do with being successful are kidding themselves and should read “Black Swan” as luck always is a factor though it certainly isn’t the only one nor the most important.

    My two cent,
    Christian

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