Victim Mentality and Why Your Finances Suck
, on August 5, 2008
Recently a bunch of friends got together and the term victim mentality came up. Victim mentality is a tendency to blame external or uncontrollable factors, instead of focusing on internal or controllable factors for things that go wrong. Among other negatives, victim mentality is detrimental for your financial health.
What’s So Bad About Victim Mentality?
Victim mentality stops you from finding a solution to your problems. When you blame external or uncontrollable factors, you put yourself in a mindset that there is nothing you can do to eliminate or reduce the problem. It just becomes a status quo — a monkey that stays or your back forever.
Here’s a story of a couple that I know. They got married out of high school, had several kids together, and live in poverty for the past two decades. To them, there was nothing they could’ve done to improve their finances. They felt that was the hand they were dealt. Looking from outside in, there are many things they could’ve done to improve their situation.
- The wife could have gone back to work instead of being a stay at home mom, and not really anything productive with her time (unlike some of the other SAHMs that I know).
- They could’ve practiced better family planning instead of having one kid after another.
- They could’ve pursued higher education or alternative income streams instead of staying at home doing nothing (the wife), or toiling away in minimum wage paying jobs (the husband).
Note: Just to clarify, I am not saying that all SAHMs do noting (I know quite a few great ones), but in this case, this lady in the story really didn’t do much.
The example above may be a little extreme, but it does a good job of demonstrating my point — victim mentality is detrimental for your financial health.
Are you facing a problem right now? What are you doing about it?
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About the AuthorPinyo
is the owner of Moolanomy Personal Finance
and an entrepreneur with over 20 years of business experience. He has a strong appreciation for business management, investing, and wealth building. He has written for many online publications, including American Express and U.S. News.
The information on this site is strictly the author's opinion. It does NOT constitute financial, legal, or other advice of any kind. You should consult with a certified adviser for advice to your specific circumstances.
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