Reflection and Regret

Jun 7, 2022

Do you doubt we are among the most self-reflective generations in American history? I don’t! The American Psychological Association recently estimated that 1.2 to 1.5 million undergraduate students take introductory psychology classes every year.

Test prep firm, Princeton Review, lists psychology as one of the top ten undergraduate majors.

So, it is apparent we go to great lengths to determine why we behave the ways we do and then to “fix” the ways we think.

It seems off then with so much self-awareness that we seem perpetually disappointed. Why have all our efforts to study and correct our attitudes had such limited apparent success? We constantly talk about aligning our actions with rational thought but remain disappointed in the outcomes of almost every area of our lives – relationships, weights and appearances, careers, finances, and well you get the idea.

I have a theory about our perpetual disappointment and cynical relationship with money (BTW – we all have a dysfunctional relationship with money – some value it too little and others too much).

Expectations! That’s it.

That’s my working theory for we are so disappointed by our relationship with money (and all other relationships for that matter). Fortunately, we can set reasonable expectations for money by developing a plan.

– What is possible?
– What are available choices?
– What are the consequences of each choice?
– What actions and sacrifices am I willing to take?

Set reasonable expectations by developing a plan for money. That’s the theory of this amateur financial psychologist.

What’s yours? Let’s tackle this easy one before we get to your kids.

Share your ideas below.