Money is an essential part of our existence, as we need it to acquire the basic necessities and comforts of life. I always encourage persons to be more purposeful in their financial dealings and to constantly look out for opportunities to earn more income. Becoming more focused and productive is a key ingredient to attaining our goals.

While money is very critical for our well-being, it seems that in today’s society many of us place too much importance on money itself. Our thoughts, beliefs and fears about money can lead us to make unwise financial decisions, and very often our money attitudes can bring out the worst in us. It seems that many of us have become enslaved by our desire for and dependence on money.

Here are some of the common issues that can indicate if you are being held captive by money.

You are not content with what you have

“Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income” — Ecclesiastes 5:10

Some persons are so caught up with their desire to ‘keep up with the Joneses’ that they are never able to truly enjoy what they currently have. If they own a five-year-old Toyota, they complain that they can’t afford to buy a new luxury SUV. Envy of others and greed for more cripple their ability to be thankful for their blessings, and they are often very unhappy with their financial status.

While it’s a perfectly natural desire to want to accomplish more in life, it becomes destructive when persons lose sight of their achievements and only crave what they don’t have. This unhealthy money attitude can result from deep insecurities and a lack of self-esteem, as persons only feel that they have ‘arrived’ if they can favourably compare themselves with others.

If you are trapped in a never-ending quest to acquire more, understand that you will never be satisfied until you are grateful for what you already have. Some of your most precious gifts are things that you take for granted, such as the ability to breathe, see and walk. Would you sacrifice these for an expensive possession? Create contentment by cultivating an attitude of gratitude.

You are exploited because you need money

“The rich rule over the poor and the borrower is servant to the lender” — Proverbs 22:7

Many employees suffer silently under tyrannical bosses because they are afraid of losing their jobs. Persons with budget shortfalls borrow at burdensome interest rates and live in fear of defaulting on their loans. Some women who are financially dependent on their spouses stay in abusive relationships in order to receive a regular supply of money or preserve their social status.

The fear that keeps people in these situations that can be detrimental to their physical and mental health usually stems from a perception that money is scarce. Unfortunately, the school system doesn’t focus enough attention on teaching us how to independently earn an income, so many persons become desperately reliant on others for money.

One way to break free from this type of enslavement is to learn how to use your talents to create your own source of income. Once you understand the principles of supplying products or services that solve people’s problems and fill their needs, and you can successfully earn a part-time income from your own efforts, it will give you the confidence to refuse to let people take advantage of you.

You put money ahead of people

“For the love of money is a root of all kinds of evil” — 1 Timothy 6:10

Some persons are so enslaved by a love of money that they will do almost anything to get it and keep it. In their insatiable desire to have more of what money can buy, they ignore their conscience and sacrifice their integrity to gain wealth. Cheating, corruption and crime are just some of the negative repercussions when people turn money into an idol and worship blindly at its throne.

The idolatry of money is an unfortunate feature of our increasingly materialistic world, where money represents power, influence and status. Many people believe that they need to be rich to be respected, and treat others according to their level of wealth. We are definitely in trouble when human lives have less importance than the physical symbols of money.

When you idolise money, realise that your attitude actually helps to foster many of the anti-social activities that plague our nation. Stop looking at wealth as an indicator of a person’s true value, and treat everyone with the respect that you would like to receive. Volunteer your services without looking for a reward and contribute whatever you can to worthwhile charities.

If you believe that money is holding you captive, I encourage you to use these strategies to break free of your financial bondage.

Cherryl is a financial consultant, money coach and founder of Financially S.M.A.R.T. Services. Her first book, “The 3 Ms of Money” will reveal all the secrets she learned about financial success. Please email cherryl@financiallysmartonline.com to leave a comment. Get more practical money advice at www.financiallysmartadvice.com and free tools at www.financiallysmartonline.com.