Money fuels our lives, influences our decisions, and has the capacity to elicit a range of emotions. How we react to money, emotionally and mentally, determines our financial outlook. This hidden force influences our financial behaviour and attitude, thus ultimately affecting our everyday well-being and future stability. 

Financial attitude comprises a wide range of views, approaches, and emotions about money. It offers insights on spending, saving, investing, risk-taking, and debt. A variety of social variables influence these attitudes, including childhood, socio-economic background, culture, and personal experiences. 

A positive financial attitude is defined by accountability, planning, and goal-oriented behaviour. Individuals with this perspective see money as a tool for achieving their goals, such as financial security, education, travel, or personal fulfilment. They are conscientious about their spending, create realistic budgets, and prioritise saving and investing for the future. They value long-term thinking and make sound decisions based on information and study. 

On the other hand, a negative financial attitude might be characterised by impulsivity, anxiety, avoidance, or even apathy towards money. This can result in over-spending, poor planning, and reliance on debt. Individuals with this perspective may see money as a source of worry or humiliation, resulting in procrastination and missed opportunities. They may lack financial education and be overwhelmed by handling their finances. 

The impact of financial attitudes goes far beyond numbers on a budget sheet. It affects our mental well-being, professional and everyday decisions, but mostly even our relationships. Positive financial attitudes are associated with reduced stress, better confidence, and a greater sense of control over one’s life. In contrast, negative attitudes can lead to anxiety, sadness, and harmful coping methods, which can then, in turn, negatively impact our finances (substance abuse and gambling come to mind). 

Fortunately, financial attitudes are not fixed. They can be changed and reshaped with deliberate effort and knowledge. Here are few approaches that can benefit everyone: 

Reflect on your existing relationship with your money: Introspection is essential. Identify your financial beliefs, values, and worries. Understand the underlying causes and emotions that drive your financial behaviours. 

Seek information and resources. Develop financial literacy. Learn how to budget, save, invest, and manage your debt. Numerous online resources, books, and workshops can help you. 

Set reasonable goals. Begin small and gain momentum. Create attainable financial objectives that are consistent with your values and priorities. Celebrate every milestone and accomplishment, no matter how minor. Aim for SMART goals – Specific, Measurable, Achievable, Relevant, Time-bound. 

Develop healthy habits: Spend mindfully, track your costs, and automate savings whenever possible. Create a budget that represents your needs and wants, allowing for both responsible spending and future savings. 

Seek support: Surround yourself with positive influences. Talk about your financial goals with trusted friends, family, or a financial advisor. Consider joining a financial support group or community for motivation and accountability. An accountability partner might be worth considering, since they will understand what you are aiming for, and will be able to support you on your way. 

Remember that developing a great financial attitude is a journey, not a destination. There will be setbacks and temptations, but consistent self-reflection, learning, and action can result in long-lasting transformation. By building a healthy relationship with money, you give yourself the ability to make educated decisions, achieve your financial goals, and ultimately pave the path for a more secure and rewarding future. 

You can create a life that is full of opportunity, security, and freedom, by being aware of and taking care of your financial attitude. 


Young man dressed in business attire, reclining on an armchair, atop a pile of money


If you would like to improve your financial outlook, get in touch with JA Malta. We provide free Money Management workshops for people of all age groups and backgrounds, and can help you to understand your relationship with money, so that you can work on your finances and aim for a brighter future.