The psychology of money Dr Yaron Ziv, MSW.Psy.D Tel-Aviv University Maof-center for Human Development

The Psychology of money Money makes the world go around

The Psychology of money Money seems to be not just a bank note Money becomes a sensitive issue in every aspect of our life: relationships fantasies, desires, frustrations, self- worth, self-respect, reliability, etc.

The psychology of money We run in life between reality and fantasy all the time. We need the two polarities. Reality is our grounding Fantasy is our legitimate escape, hope and inspire

The psychology of money Money serves as the bridge between fantasy and reality. Money turns a wish into a commitment Money becomes a token of seriousness Money clarifies ambiguity

issues related to money Trust (relationships) Reliability (business) Assertiveness Shame Communication Status

Trust with money Relationships are based on trust Couples- pre-marriage agreement Couples – separate or joint account Couples – priorities in purchasing Partners – spending money according to needs Partners – sharing obligations

Trust with money Families- giving pocket money to children Families – buying groceries and bringing back change Families- money sharing of inheritance

Reliability and money Words, words, words …… show me the money Reliability is defined by the connection between words and actions Good friends keep good accounts

Assertiveness and money Assertiveness is a manifested behavior out of self-esteem Assertiveness is an acquired skill Assertiveness means: clarity, self respect, firmness Ability to say NO, setting boundaries