We all know that there’s more to money than just, well, dollars and cents. Money affects our relationships and our choices, and money affects our emotions—probably more acutely than many of us would like to admit.
In fact, behavior and money are so tied together that an entire field—behavioral finance—studies how our interactions with money are affected by and affect, our behaviors. The thing that experts in the field stress is that behavior and money should be positive interactions. But that’s the ideal, and we all know that the reality can be closer to stress and even panic, especially when money worries or confusions spiral out of control.
In order to better manage money and behaviors, though, one needs to know what emotions you might be suffering as your money woes (or money joys) change. The graphic below helps explain some of the basics behind the thinking of behavior and money.