Money and My Psychology
By: Dr. Denise Renye
Here in the U.S., we receive numerous overt and covert messages about money. They come from the collective through our family members, religious organizations, neighbors, teachers, and also the media. Common money messages are, “Money is the root of all evil,” “Money doesn’t buy happiness,” “Money equals power,” and “More money means more happiness,” to name a few.
Because it’s taboo to talk about money in public or with your friends, you might not even question the messages you received about money. You might not stop to consider they could be wrong. For instance, is it really true that money is the root of all evil? Or is it instead selfishness and greed? Take Amazon for instance, which perfectly encapsulates this dynamic. Amazon’s profits have soared during the pandemic as more people have turned to online shopping to purchase the items they need. That’s not necessarily a bad thing, but the way Amazon operates is with the notion that money is more important than people.
In a leaked internal memo, research stated if the company continues with business as usual, it will run out of U.S. workers by 2024. The turnover rate is astronomical – 150% annually compared with an average of 64.6% in the retail sector, according to the Guardian. Amazon’s founder Jeff Bezos originally welcomed the high turnover because he feared long-term employees would slack off and cause a “march to mediocrity.” But now he’s worried, as he should be.
The attitude Bezos imbued into Amazon is the problem. It sees the quest to earn more money as the be-all, end-all and doesn’t take into account other people. However, contrast Amazon with a company like Costco that pays employees a high hourly wage, offers them health benefits, and has generous retirement packages. Costco (and others) demonstrate businesses don’t have to be exploitative to be profitable.
This again points to the notion that money doesn’t necessarily buy happiness. Take the case of Billie Bob Harrell Jr., who won a $31 million lottery jackpot and then less than two years later died by suicide. That large influx of money didn’t make him content enough, it made him decide to end his life. We don’t know the psychological ins and outs of his life or his personal beliefs but it’s clear money did not solve all his problems.
If you don’t learn more about your personal beliefs around money, you won’t know if you’re running patterns unconsciously that are sabotaging you. You may be unaware of how deeply these messages are affecting you and your relationship with money because that’s the thing, it’s a relationship. And relationships can run amuck with unconscious patterning if they are not examined with care, understanding, and deep conversation. Just like romantic relationships, friendships, and familial bonds, your relationship with money deserves attention and nourishment. Are you giving that to yourself? If not, it’s never too late to start.
References
McVicker, Steve. “Billie Bob’s (Mis) Fortune.” Longreads. February 10, 2000. https://longreads.com/picks/billie-bobs-mis-fortune/
Sainato, Michael. “Amazon could run out of workers in US in two years, internal memo suggests.” The Guardian. June 22, 2022. https://www.theguardian.com/technology/2022/jun/22/amazon-workers-shortage-leaked-memo-warehouse