Do You Have a Money Disorder?

"...it is the intellect alone which corrects the error of the senses; and it is not possible to produce any case which error results from our trusting the operation of the mind more than the senses." ~ Rene Descartes

Most people are normal (whatever that means), which is to say that most of us have flaws, whether they are recognized or not.

As I stated in the preceding post reviewing the book, Mind Over Money, I believe we all have a money disorder to some degree and we owe it to ourselves and the people around us to identify them and remain mindful of them and thus enable ourselves to pursue a meaningful existence.

I can now say with certainty, at least according to a self-assessment test, that I have at least some degree of several money disorders!  The authors of Mind Over Money have invited this blog's readers (you) to take their money disorder assessment for "free."  If you are interested, I'll provide the direct link to the test immediately after I reveal my own assessment results and how I feel about them. 

First, the authors Klontz describe a money disorder as "a pattern of self-limiting and/or self-destructive financial behaviors that have a significant negative impact on one's financial health, relationships, social, or occupational functioning that persist despite their negative consequences."

The results of the self-assessment test do offer the disclaimer that test results are not conclusive and that the assessment of each particular disorder only reveals signs that may or may not indicate the particular disorder.  Personally, I have "signs" of several.  I search my mind and feelings and honestly do not believe I am in denial of my results; but I have an explanation for each of my money disorder results, which may or may not, once again, be conclusive:

• Compulsive Buying: I just don't worry about money.  Perhaps I worry too little because I will buy something almost solely on the basis that it will improve my quality of life even if the purchase is not completely sound financially.  I see this as a detachment from concern over "saving" money but certainly not "compulsive buying."
• Compulsive Hoarding:  I hold on to things longer than I should sometimes (Today, I finally replaced an old pair of shoes with holes in them); but I do not hold on to things strictly for emotional reasons.  I give more of my things away (or sell them at garage sales) than I keep during a given calendar year.
• Financial Enabling:  I have quite a passive personality and, at times, I have difficulty saying "no" to a purchase for my family, once again, if the purchase improves upon our quality of life; but I never give or loan money to friends or family to enable them financially.  On total, I say "no" to frivolous spending much more often than not.
• Financial Avoidance:  Once again, I just don't worry about money.  I feel that money is abundant.  I do not avoid personal financial matters.  I just don't philosophically believe that energy spent on financial matters, outside of my work for clients and my own basic needs, is worth the time.  I don't "avoid" finance -- I simply do not value financial pursuits highly.

As I prefaced before my money disorder revelations, I do not deny the accuracy of these scientific results but believe my "disorders" are mild, assuming the assessment results are accurate.  I will readily admit, however, that my zen-like passivity to money might be an Achilles Heal:  While I do not worry about money, which is quite helpful during a crisis and for managing my clients' assets, I might find a greater financial balance by remembering that a larger measure of care and concern for my personal financial soundness can be found; even while I choose to "live now" and place a much higher value on quality of life over quantity of money. 

"It is no measure of health to be well adjusted to a profoundly sick society." ~ Jiddu Krishnamurti

Yet perhaps these are not disorders but rather philosophical views that make me abnormal in relation to society at large.  Now the question remains: Is normal healthy?  Personally, I do not believe so!  Additionally, by the Klontz' definition, I do not have a money disorder because I have not experienced any real "negative consequences" as a result of my financial behavior.  I believe I may be financially abnormal but this abnormality may be how I am able to remain content with life!

As you may have deducted, this self-assessment was quite a reflective and introspective exercise and I believe it could be of the same value to you.  Also, it was easy!  The assessment took me approximately five minutes. 

If you want to take the money disorder self-assessment, here's how you can do it for "free:"

• Click on this link. 
• Next, to begin the assessment, enter your email address, a Password, and an Assessment Code.  For the latter two (password and code) enter "financialphilosopher."
• Opt out of the follow-up items, if you do not want to receive emails from the source. 
• Answer the assessment questions and you receive instant results.  That's it!

I would love to hear any of your results if you care to share.

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Related: Book Review: Mind Over Money

Comments

[Alex Golubev]

if you like the Jiddu Krishnamurti quote, you should watch The Zeitgeist movie. I think the Addendum starts off with it. you gotta be open minded and make it all the way through, because it has some good insights for philosophers:
http://www.zeitgeistmovie.com/

[Kent @ The Financial Philosopher]

Alex:

I have seen much of the Zeitgeist movie and have not set aside the time to watch it in its entirety. The movie, near the beginning, uses a piece of one of Krishnamurti's public speeches, called the Real Revolution. You can find the complete speech and other quotes on my Krishnamurti page:

http://financialphilosopher.typepad.com/thefinancialphilosopher/jiddu-krishnamurti.html

Thanks for the comment and link! I highly recommend the Zeitgeist movie, for which there is also a link on my Krishnamurti page.

Kent

[Steven]

I don't need a link to remind me of the past: forty years of carrying a credit card balance, impulse buying, compulsive hoarding, substance abuse, and workaholism.

When I turned forty nine, I asked myself if I wanted the next fifty years to be like the last forty nine. My answer was no. Like you so eloquently said: We owe it to ourselves to identify our disorders and remain mindful of them and thus enable ourselves to pursue a meaningful existence.

I retired at fifty seven debt free (I'm now sixty two). I also decided to retire my life style as well. I gave everything I bought over the last forty years to various charities in San Francisco. With six boxes of books and the clothes on my back, I opted for the simple, minimalist life.

No regrets. My disorders are the reason I am on this journey and living in the present moment. I know I can't change the past, but I did change myself.

[Kent @ The Financial Philosopher]

Thanks, Steven, for your thoughtful and insightful comment!

I especially like this: "My disorders are the reason I am on this journey and living in the present moment. I know I can't change the past, but I did change myself."

I believe that "disorder" is a relative term. If "order" represents normal, then I am content with disorder -- abnormality.

The path to a meaningful existence begins with self-awareness and self-knowledge, which is followed by steps taken on that path.

Some form of awakening must occur to identify what needs to be changed or uncovered. Fortunately, you were able to awaken without outside influence, which is the most effective means of positive change and evolution.

Thanks for provoking thought...

Kent