08 Mar 2021 • 3mins • Yolt

What kind of relationship do you have with money?

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What kind of relationship do you have with money?

Ready to check your money relationship status? Discover how your relationship with money is affecting how you feel about your finances.

Committed

You feel like you have a pretty solid relationship with money. You’ve got a budget that you stick to, and your savings pot is always on the up. You haven’t changed your goals for a while, but why fix what isn’t broken?

Careful not to let your relationship with money become too needy. You might not always be able to stick to budget, and that’s okay. Changing incomes and new expenses are a part of life and learning to adapt is just as important as being committed to your goals.

Co-dependant

You’re an anxious saver. Money doesn’t feel consistent in your life and you often worry about being without it. This often means you scrape to save the pennies, and think a long time about every purchase. Sometimes you even go without, just in case there’s something unexpected around the corner.

We can’t promise your money situation will always feel stable. In fact, it’s very likely that it won’t. However, everyday saving shouldn’t give you anxiety, and if your budget is making you unhappy, perhaps it’s not the budget for you.

Work on establishing trust in your own ability to save by using habit building psychology. Find out more in our psychology expert series.

Long-distance

You feel your relationship with money is best kept at a distance. Money goes in, money comes out. Sometime you wish you could be closer with your money, but long-distance has been working this far – what if change makes it all fall apart?

If you tend to stick your head in the sand and ignore your bank balance altogether, it might be time for a little communication with your finances. Crack the fear by getting organised and building those communication pathways to help you see your money situation clearer. You never know, this might be the making of your money relationship.

Casual

Money isn’t something you waste time thinking about. You’ve dabbled with budgeting and you have a savings account… somewhere. But it doesn’t take much to sway you away from your goals. Things always works out in the end, right?

Well, for now maybe. But if life throws something unexpected your way, whether that’s a forgotten bill or a last-minute holiday with friends, your casual relationship with money might leave you in the lurch.

Taking control of your money can sound intimidating, but that doesn’t have to be the case. Hook yourself up with the Yolt app and discover how features like Budgets and saving Goals can help transform your relationship with money.