Sunday, July 26, 2009

So how much cash really is enough?

Abey, who was born in Sri Lanka, but spent most of his teen years in various schools around Australia, believes that money is as much emotional as it is legal tender, quoting research that found that the four words most associated with money are 'anxiety', 'depression', 'anger' and 'helplessness'.

"Money represents so many things about success and failure, and there's a whole range of hidden anxieties associated with it," he explains. "If you want to bring a dinner table conversation to a standstill, just ask someone how much they earn. It makes people incredibly uncomfortable.

"The research also shows that if children ask their parents what they earn, they'll either fob them off or lie to them. The result is that this younger generation have grown up with little or no understanding of the role of money in life, so parents should be aware of that."

The ideas discussed in How Much Is Enough? seem particularly relevant right now here in Ireland, where the country is experiencing its first recession since the Celtic Tiger boom

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