MP Dunleavy recently wrote an article talking about the different type of money traps people in general fall into.  She writes lists about 7 money traps and tells us the telltale signs for each and what they mean.  Here they are:

1. Someone else will save me – You are waiting for someone else or something else to help you out.  You procrastinate or avoid your financial issues.
2. It’s not my job – You depend on someone else to deal with money because it’s too hard or beneath you.
3. Money doesn’t matter – You never think about money because you’re too busy living.
4. I’ll do the thinking for the both of us (Casablanca Syndrome) – You’re better equipped to handle finances and pick a partner who doesn’t care.
5. If you look good, you feel good – Appearances matter, you are constantly trying to look keep up, but not adding up the bills.
6. Money is toxic – Money is evil and you feel that acquiring it is bad.  You feel more virtuous than those who work at accumulating money.
7. I would if I could, but I can’t – Beyond your control, but the truth is you’re lazy.

What an interesting set of rules.  MP prefaces it by talking about 3 case studies of women in red.  What do I think?  Well most of my single friends, guys/girls believe #1.  Why? I think it’s not really someone else will save me so much as they feel more compelled to be trying to find someone instead of dealing with their finances.

I don’t know many people who feel #2.  As for #3?  Well that probably applies to most people in the world.  Unless you are completely debt free you are busy living with debt.  Even mortgage debt.  But there is a balance between being obsessed with being debt free and living, in my humble opinion.

Depending on one partner?  Well I think it can work as long as the both partners have the same ideals and values towards money.  Do both need to be equally involved?  I don’t think so.  Do they need to talk about it once a year or more?  Probably, but just because someone isn’t involved in the daily accounting doesn’t mean they are depending on someone else.

Appearances are decieving #5.  Absolutely. But the reverse can be true.  You can actually AFFORD that posh lifestyle.   I’ve read comments on a post by Dog called Glass Houses, where pretty much everyone said she was shallow for wanting an expensive home and her friends couldn’t afford it.  Lemme tell you something?  Some people CAN afford it!  Ridiculous I know, but they really can!  I’ve meet the Joneses and they are loaded.

People who believe #6 that money is toxic?  Well I’ve meet a few.  Most change their minds when they have kids and suddenly they want the better things in life.  Even those people who think money is toxic need more money to buy their organic foods, cotton clothes, etc.  Guess it’s not that bad.

Finally #7, being lazy about money.  Well it happens to us all. It’s a lot of work to track your spending and follow a budget. Very few people make enough to never worry.  I think we all have these moments of weakness.  Does it mean we’re in a trap?  If you stay there maybe.  But if you are working out of it, even doing little things like tracking one category of spending, ie eating out, is better than nothing.

I think it’s a funny post by Mia, check it out.