THE ENTREPRENEURS’ SERIES

HUMAN EMOTIONS AND MONEY

I

t is so interesting how getting successful in matters to do with money has got almost everything to do with the individual’s emotions towards money. It is not all about hard work and good academic grades, all that isn’t necessary rather it’s about who you are in the mind and your emotions towards money. Money is an emotional subject.

As individuals, we are all subject to being human and being human requires us to embrace our emotions. These emotions include love, joy, happiness, hate, anger, fear and other few. However what makes each individual unique is how he or she manages their emotions. Similarly, individuals need to have an optimistic mindset before they can venture out to complete their obligations that earn them money. It is a fact that an optimistic mindset will set a clear platform for positive emotions like desire and a pessimistic mindset will breed emotions like doubt and fear.

Let’s take an example, two students are preparing for an exam and both are not all that knowledgeable as far as the overall class ratings. That state usually breeds in emotions of fear and low self esteem. However Student A overcomes his fears and decides to consult a friend and the lecturer and eventually, he passes the test. Student B, out of his fear, he even fails to consult a friend not because he doesn’t have one but because his fear has matured to the extent that he considers himself a failure before he can sit the exam.

In the same vein, when it comes to money, we have the Student A’s and B’s. Money raises different emotions within us including desire and fear. According to Napoleon Hill, it is the fear of poverty. For the Student A’s, they desire excellence as they earn their money, so they calculate their risks, make the necessary consultations and forecasts about their businesses and the money they are investing. They do not ignore the fear of losing money, rather they dwell so much on their positive mindset to play it smart and attain financial freedom. Unfortunately Student B will be overwhelmed by the panic of taking risk by investing his money and he makes a loss, so he plays it safe and keeps the money in the bank.

F

ear is nothing more than a state of mind. This fear paralyzes the faculty of reason, destroys the faculty of imagination, kills off self-reliance, undermines enthusiasm, discourages initiative, leads to uncertainty of purpose, encourages procrastination, wipes out enthusiasm and makes self-control an impossibility.

Nonetheless I recommend that for us to overcome our emotional fears of money, first we embrace the fact that we are human and susceptible to failure. We are not perfect but we can focus on taking precautionary measures to manage our failures. Among these measures includes putting our mindset on a positive track of success. The mind is the author of success or failure. Buddha once said that “All that we are is a result of what we have thought”. Secondly, we set our goals right and by this I mean we right them down clearly, specify the time period in which we want to achieve these goals and all the necessary resources we need to offset these goals successfully putting in mind all the possibilities that could go wrong and how to either mitigate or avoid them. Thirdly, we develop a desire for our goals; a desire that is not only a hope, a wish but a keen, pulsating DEFINTE desire that transcends everything else. Let’s create a definite plan for carrying out our desire, and begin at once to put this plan into action. More so let’s endeavor to place all our energy, all our will power, all our effort and our faith in the means we are going to use to attain the goal. Lastly, pray for the Lords guidance and wisdom.

I wish you luck and hope you now understand the effect of our emotions in as far as money is concerned.

The writer is an entrepreneur and a business practitioner

NDYAGUMA BRIAN

BACHELOR OF ENTREPRENEURSHIP AND PROJECT PLANNING YR 3

UGANDA CHRISTIAN UNIVERSITY – MUKONO - UGANDA

0782 065 238/ 0702 065 238

ndyags2006@yahoo.co.uk