Managing Money

[ailbhe]

Some people are good at it, some people are ok as long as there's plenty of money, and some people are dreadful at it. I have never really worked out what makes people so. I know people from poor backgrounds and wealthy backgrounds in all categories, as well as people from varying degrees of comfortable backgrounds.

Some people seem to learn to manage money by living in fear of poverty (raises hand) and some people seem to learn by good example (raises hand) and some people seem to learn by being involved in the financial planning and management of their families as they grow up (like good example but more hands-on) (raises hand again) and most people probably have some combination of all three going on.

But the part I can't work out is what makes people who know what bad management does, up to a point (a point between stress and hunger, say) nonetheless continue to manage badly. What do Groups A, B and C learn which group D can't seem to? Let's not assume that group D are delusional, or want to rely on other people in their lives to pick up the pieces - let's assume that their desire and intention is to be able to spend only 252 pence in the guinea and not forever hanker after the half-a-crown that isn't there.

Comments

[the0lady.livejournal.com]

No, of course that doesn't count as delusional - in any part of your life, if you're faced with a completely new est of circumstances then you'll have more difficulty knowing what to do and it will take time to acquire the skills to do it. that's perfectly normal.

What puzzles me (and I think Ailbhe too) is when people don't make the adjustment, don't seek out new skills to avert financial disaster, or don't learn from their first or second complete financial meltdown to be more attuned to fluctuations in their finances in future.

I think glitzfrau makes a good point about distructive behaviours being adaptive behaviours that are no longer fit for purpose; it's just that I don't see what wilful obliviousness to matters of money is adaptive for. Not saying it isn't, or necessarily judging people who exhibit those behaviours - I'm just literally puzzled as to where their attitudes might have come from and what they used to be good for.

[beckyl.livejournal.com]

Adaptive behaviour - If I open the bill, I will have to do somethiing about it. If I ignore it, I put off the decision. Downwards spiral, when opening bill leads to feelings of failure because bill cannot be paid, extreme being suicidal feelings because it's all out of control and you don't know how to fix it.