There are different types of unhealthy financial behaviors. Someone may hoard their money, never to spend it, while another may spend it all never to save it. Buying can reflect a need to distract, a compulsion to collect or appear wealthy and abundant, sometimes all to the level of an addiction – a shopaholic. There are those who deny their involvement or drive for money and there are families in which money is the greatest source of conflict.
Financial disorders include underspending, risk aversion, denial, pathological gambling, workaholism, overspending/compulsive spending, hoarding, financial infidelity, enabling and financial incest and more. Overspending, over-shopping and overworking have quickly become the hallmark to a self-indulged culture; they are considered ‘normal’ by some.
Patterns of accumulation, storage, management and spending of money, our financial template, is often rooted in early attachment patterns and familial values from whence we came. Problems with money, like other addictions, involve issues of self-esteem and worth, anxiety, depression, personality patterns and a perpetuation of a pattern despite negative consequences.
Patterns to our relationship with money have been outlined. Money avoiders are those who have trouble getting it and when they do, don’t really know what to do with it. For example, there are those in denial (don’t think about it, don’t open the financial statements) or those who trust no one else with their money or to even spend it on themselves. Those obsessed with having money hoard it or they are obsessed with both work and money and may even spend compulsively.