For many people, money is a very quantitative subject. How much do you have, how much do you need, how long might your money last, etc.? Labels around money also evoke a similar image – a hundred grand, a millionaire, billion dollar deficits, etc. But, for a large swath of the population, money is a very subjective noun, acting as a metaphor for a lifestyle, values and/or insecurities.
The Sunday, August 28, 2016 issue of the New York Times carried a very good discussion of these qualitative, or subjective, aspects of money that shape feelings and attitudes. We believe the article is useful because an understanding of these softer aspects of money can ultimately allow a liberation from undue worry once the drivers of attitudes are uncovered and emotionally processed.
All comments and suggestions are welcome.
Bob Bilkie, CFA®