Last month, on CNBC’s “Squawk Box,” Deepak Chopra described the usefulness of meditation for people on Wall Street. Speaking about a friend who manages a hedge fund, he said, “His entire staff meditates. I know many others now on Wall Street that we teach, actually. It makes them much more productive, because they’re centered, they’re not distracted.” Chopra was appearing on TV to promote a free twenty-one-day online meditation course that he offers with Oprah. Its theme is “Manifesting True Success.”
The field of Psychology and Money is a deep and fascinating one. We don’t need a PhD in Psychology to see some basic trends in our behaviors, our internal stories from our family of origin, and the attitudes we have towards money today. We all recognize ourselves at some point in the descriptions above. Now that we’ve begun to identify some of our self-destructive behavior in relationship to money, it is time to turn those dynamics around 180 degrees, and create a loving, healthy relationship with our money, as with a loving partner.
Women are becoming more educated about personal finance then ever before. We are climbing the ladder to the top of all professions, caring for elderly parents, sending our children to college and managing investments and real estate. However, there is still a gender divide in personal finance; many women feel nervous about managing their own money, defer to their husbands on all investment decisions or feel uncomfortable asking what they think will be “dumb” questions about investing. There is an enormous need for financial education that is accessible to women, as they are hungry for the knowledge they need to manage the issues that are arising in their lives. Our natural instinct to protect our families and ourselves needs to be applied to our own financial life. We are in charge of our own future, and the same concern we have for our loved ones we must have for ourselves.