I’ve listened to the money stories of hundreds of doctors, and some conversations stand out.
One doctor Beth said, “My relationship with money just isn’t working for me. My money brings me little joy, but lots of conflicts, anguish and uncertainty. If money were a person, I’d divorce him. But we’re stuck together. For life.”
Many doctors echo a recurrent theme: money is not working for them. They are experiencing MONEY DRAMA.
Here are three ways MONEY DRAMA gets played out:
- Inner Conflicts. Money is often associated with anxiety, embarrassment, guilt and shame.
- Conflicts with Others Money often becomes the source of conflict within marriages and families.
- Mysterious Forces that Drive Unwanted Money-related Behaviors This might include over-spending, jumping into Dumb Doctors Deals (DDD’s) or never truly enjoying the things their money can buy because it’s so painful to part with money.
Many doctors believe that their money drama would go away if they just had more money.
While it's true that MONEY DRAMA can get in the way of building wealth, more money usually leads to more drama.
Here are two questions you can ask to help you take the first step of ending money drama:
What are three ways your money-management style is working for you? You might say, “I do a good job of saving.” Or, “I’m generous with others.” Or, “I now know my monthly expenses.”
What are three ways that your money-management style is NOT working for you? You might say, “I have ongoing fights about money.” Or, “I don't collect what I'm owed.” Or, “I get so anxious about money that I just ignore it.”
Beth is right: doctors cannot divorce themselves from money. However, they CAN end the money drama and make peace with money.