Oddly enough, there is a psychology to money that influences how we spend and save our hard-earned wages.

Do you ever wonder why you make some of the financial decisions you do? Or why your friends seem to get ahead and you can't?

Whether you’re aware of it or not, your attitude towards money has a direct impact on your financial wellbeing. Here's how you can identify if you have a negative attitude, what that means for your finances, and what you can do to get on the road to positivity.

Where does a negative attitude toward finances come from?

If your feelings towards money are negative, you’re not alone. There are a number of reasons why people adopt an unhealthy attitude towards money.

Perhaps you blame a lack of funds for holding you back, or maybe you’ve acquired a dislike of all things financial because the mechanics of money can be so confusing. Terms like 'compounding interest', 'inflation', or the 'time value of money' might not make any sense. Or maybe you had a bad experience with a financial institution in the past.

How does your negative attitude drive your decision-making?

Most of us will have made multiple decisions throughout our lifetime based on our emotions.

It comes as no surprise that a negative attitude to finances can lead to short-term thinking, short-term decisions, and bad results.

Ever had a bad day at work and bought yourself something special to cheer yourself up? It may start with something small, but think about the impact this can have on a larger scale.

You might take stock of your personal finances only to think there is nothing you could do to improve it, so you don't take action. You might be carrying a lot of debt and feel you will never be able to pay it off, so you don't bother trying.

This negative thinking will hold you back and you won't get ahead. If any of this sounds like you, then a little bit of effort can turn into positive momentum, and you'll see how quickly your negative attitude can turn when you start to see progress.

How to get rid of your negative attitude

Bottom line, understanding what money means to you will help you make better financial decisions. Our relationship to money has a big impact on our financial success. Consider the following:

• Knowing the cause: A negative attitude towards money has little to do with income or education, and it most likely didn’t materialize overnight. In fact, adverse life events can shape and inform your beliefs about money. For example, losing your job, personal illness, or a financial setback can have a long-lasting impact on your financial attitudes and beliefs. It's essential that you take stock and identify what's holding you back. It might make you a little more conscious of your attitude if you can visualize a specific cause and this could make you think twice next time you're faced with money decisions.
• Knowing when to seek financial guidance: Once you know what's led you to think negatively about your money, it’s time to adjust your thinking. Sometimes it's hard to see the forest for the trees and know when your attitude has manifested itself into a decision. Seeking advice can provide you with the objective perspective you need to help you get on track financially. Remember, two heads are always better than one.
• Knowing where you really stand: What's your relationship to money? Calculate your Financial Fitness Score and after 11 quick questions, you'll see exactly where you stand. We'll also show you the areas where you can improve and recommend the steps you need to take to get there.