Simply anticipating spending money on something could cause your brain to release this chemical. Positive spending outcomes can trigger certain neurons in the brain to release dopamine, a neurotransmitter that regulates feelings of pleasure. And just to make things even more complicated, there are two amygdalae in our heads, one in each hemisphere. The next time your friend mentions mad money to you – tell them that their amygdala needs fixing. As a result, when repeated regularly this behavior pattern may lead to a financial crisis. So, now every time the person gets mad they spend money to ease the madness. The madness is the unpleasant stimulus and spending money is the behavior that is taught or learned. Have you ever heard of a friend having a “mad money” experience? That’s money they may or may not have –but spend it anyway because spending makes them feel better. The amygdala is most commonly known for its role in aversive learning, in which a behavior is taught by pairing it with an unpleasant stimulus. The almond size amygdala sends out warning signals, which create a sense of anxiety when we fear something, such as anticipating or experiencing a financial issue. The part of the brain that responds to fear is the amygdala (amygdale is Latin for almond). What about you? Do you feel anxious or fearful at times about your money? Well, either way, your mind has a lot to do with it and here is why. I didn’t feel any anxiety at the time but, there are times when I feel anxious or fearful just before I hand over my cash or sign on the bottom line. So I tossed the garments over my arm and proceeded to the checkout line. Before I realized it, my subconscious mind had made the decision to take the garments home. However, while flipping through several pants racks I fell in love with 3 different colors (light green, sky blue and lavendar) of pants and they all fitted perfectly.
While in the store I found a satisfactory pair of pants and a shirt. I never wear all-white so this was a struggle for me. I went shopping for an all-white outfit – to meet the dress requirements of a party. I am totally for spending when preparation meets purpose. Please understand, I like spending money as much as anyone. Sometimes I wonder how much I am contributing to the numbers that are reported. The Federal Reserve of Atlanta the region that covers my city last reported that retail sales were unchanged from the previous report. Are you one of the 22 million who closed an account? Another bit of good news reported was, credit card account closings were at the highest level since 2010, with 229 million accounts closed within 12 months. The good news is that household credit card balances declined but credit card limits rose for the 25 th consecutive quarter. In the first quarter of 2019 aggregate household debt balances increased for the 19 th consecutive quarter. The New York Federal Center for Microeconomic Data collects and publishes quarterly reports on household debt and credit. Interesting facts about our spending habits Have you ever made a decision – good or bad - and later wondered what motivated you to make that choice? If you are like me it happens all too often. You must make the decisions.īut merely understanding this fact isn’t enough to ensure that you make sound decisions when it comes to managing your green stuff. It does not matter if you think that you are good at it or not. Making financial decisions are normal parts of life. So, why haven’t you had the conservation? – My compassionate voice is reaching out to you.īecause it is scary, confusing and you don’t like the feeling you get when you confront yourself. Hmmm, why is it uncomfortable? It is because you get a weird feeling? How you feel does not define who you are. I guessing you’ve already missed a few ideal moments to raise this uncomfortable issue. Is it because you don’t know what to say to yourself? I bet you know exactly what you want to say. Now, consider why you haven’t had the conversation. Do you have one in mind? I know that you do, so be honest with yourself. Think of one hard conservation about your finances you know you should have with yourself that you haven’t initiated. Why is it so hard to control your mind when it comes to spending?
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