Daniel Kahneman relationship psychology emotions Provident Williams Daniel Kahneman

How Money Psychology Affects Your Finances—and the Benefits of Financial Therapy

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, and he said that money is influenced more by your psychology than finance,” Williams says. Williams and Castillo point to three main influences on our relationship with money: our lived experiences, emotional health and mental health.

Perhaps you grew up in poverty and now you hoard money to give yourself some semblance of financial security. Maybe, like Castillo, you’re a woman who grew up in a house where only the men handled the finances, and now you don’t know how to manage your own money.

Or perhaps money was of no concern growing up, but now you’re in debt because your current income doesn’t allow for the kind of spending you saw as a child.

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