Why do people want money? What motivates you to make more money?
To achieve financial success, You Are a Badass at Making Money by Jen Sincero asserts that you must clearly define why you want money and what you want it for. Having a general desire to be wealthy isn’t enough, as you’ll likely have to push yourself to reach your financial goals.
Continue reading if you want to dig deep and discover why you truly want more money.
Define What You Want and Why You Want It
Why do people want money? Before getting into the specifics of this question, you need to understand why you want money. To overcome the fear and difficulty that comes with the challenges of making money, you need something powerful to motivate you to keep going. Having clear reasons for wanting to accumulate wealth will serve as that motivation.
The more specific you can be about your reasons, the more real they’ll seem, and the more emotionally tied to your financial goals you’ll be. As we stated previously, emotions push us to act, so the stronger you feel about your goals, the more likely you are to take actions that make them a reality.
For example, maybe your dream has always been to travel, so you motivate yourself to make money by imagining the joy and excitement you’ll experience when you visit far-flung destinations. You might define this dream further by writing down all the places you want to visit and the things you’ll do there. Or, maybe you’ve always dreamed of opening your own coffee shop and community space. You think about how more money will allow you to fulfill this dream and feel satisfied every day knowing you’re working toward doing something you love. To define this dream further, you might write down some ideas for names for your shop or make a list of the drinks you’ll serve.
Common Reasons for Wanting More Money
If you can’t yet define the specific reasons why you want more money, consider some of the most common reasons according to research from the United States and Australia.
The U.S. Consumer Financial Protection Bureau defines financial well-being based on four characteristics. If you’re not meeting some of these characteristics, then your reasons for wanting more money may center around meeting them:
- You are on your way to reaching your financial goals.
- You have control over your everyday finances.
- You’d be able to manage a financial emergency if necessary.
- You’re able to pay for things that help you enjoy life.
Research from the Financial Planning Association of Australia suggests that there are four main aspirations people have as reasons for wanting greater wealth. Consider whether your reasons may fall into any of these categories:
- Being completely financially independent
- Being able to live an ideal lifestyle
- Having the flexibility to engage in hobbies and interests
- Having more time to spend with loved ones
Once you’ve determined the broad reasoning behind your desire for more money, you can get at the specific details that spark emotion. For example, if you’re a parent, the loved ones you want to spend time with are probably your kids, and you might think of specific activities you’d like to do with them that spark joy for you.
