The root of...

I came across this interesting article in the N.Y. Times a few days ago. It discussed an emerging interest in "money disorders." One treament for "money disorders" consists of a mix of therapy and financial planning. While I don't necessarily agree with the treatment plan, given the ethical ramifications, it does bring to light an uncomfortable subject that is of relevance in today's economic environment.

It has long been said that money is the root of all evil. To some extent, it's true. Money sometimes does change everything. It is not uncommon for a person to change after coming into an inheritance. It is just as likely for someone to change when they lose money and cooped up by fear of creditors and bankruptcy. Marital strife often revolves around deteriorating financial situations or a growing imbalance in earning capacities.

At the same time, money can be the seed of goodness. While I struggled with adjusting from going from a broke student to actually having something of a disposable income, the struggle has made me better for it. It makes me feel like I'm doing something out of choice rather than necessity. Before, it was a very easy choice to refrain from, say, buying a pair of shoes, because I knew I need the money for something else. Now, I feel like that my choice to forego something I don't need comes more from willpower and discipline. Also, being able to help out family and good causes alike is something I didn't get to do before, and being able to do that now is great. Still, I have a long ways to go. Whenever I get something nice, I invariably question whether I should be spending that much money; sometimes it is hard to distinguish whether I'm having these thoughts out of guilt or if I'm really making a bad choice. To partly resolve this issue, I made a new budget and established some concrete boundaries. It's a good start, if nothing else.