Having money doesn’t ensure happiness, peace of mind, or freedom. Instead, having the right relationship with money makes all the difference.
On the one hand, money is necessary for life; it provides food, shelter, clothing and allows us to pay our bills. In a way, money can give comfort, security, and safety. But on the other hand, money can also warp our brains. It can bring confusion, stress, anxiety, and perhaps, the most sinister side of all – comparison.
Up to a certain point, everyone needs money to survive. It solves many problems, but money can also create problems. Sometimes, as physicians and dentists well know, having more of it gives us more opportunities to make decisions with bigger implications, greater stress, or greater freedom.
The key is to analyze where you focus. When you stay focused internally on your own values and make decisions in alignment with those, money and your choices with it allow you to feel secure, free, and successful. But when you get trapped in the comparison game from social media, manipulation of advertisers, or those around you, the money choice you make can bring anxiety, greed, jealousy, and insecurity. If you have a negative relationship with money, it can not only ruin your life but also ruin your relationships.
It is almost impossible to avoid some level of comparison, especially when you work in medicine or dentistry. Still, to feel successful with money, it is essential to be aware of the insatiable pull of comparison all around us so that you can fight that current and make decisions based on what is truly important inside you.
If your biggest worry about money is getting more of it, your problem isn’t really with money; it is your relationship with money.
If you feel stuck in the money comparison trap or have questions about comprehensive financial planning or your financial future, please connect with our team of advisors at Spaugh Dameron Tenny. We understand that every individual comes with a unique financial background, challenges, needs, and goals, and we’re here to help you along the way!
Shane Tenny is the managing partner of Spaugh Dameron Tenny. Along with hosting the Prosperous Doc® podcast, Shane has a true passion for behavioral finance, helping clients and audiences understand how to develop successful strategies based on their unique temperaments. An accomplished and highly engaging speaker, Shane is regularly interviewed for television and podcasts, is actively involved in the Financial Planning Association®, and contributes to industry advisory boards.
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For over 50 years, Spaugh Dameron Tenny has provided comprehensive financial planning for physicians and dentists across the U.S. In addition to providing personalized advice, we walk our clients through their options to help maximize finances and maintain financial security.
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