Money is a constant need, like food. It is necessary and vital to well being But money, and the attitudes, beliefs, and emotions you have about it, can also be destructive and self-defeating, especially if you are unaware of them. The psychology of money is the study of what money is and how it functions in your and other people's lives.

The word wealth is derived from the Olde English word "weal," meaning well-being or an abundance of something. You can have an abundance of ideas, or food at a holiday, or an abundance of family love, if you are lucky. Usually, however, wealth means an abundance of money. Wealth may appear in the form of an out of the ordinary surprise event. For instance, if you get a bonus, if you inherit money or if you win the lottery, such monetary surprise events bring with them change and a complexity of emotional reactions. Other wealth accrues through careful saving over time or is inherited. Many who have grown up with wealth use their money effectively and raise children who use their advantages productively and demonstrate good character. Others may have difficulty managing their wealth and all the emotions that come with it. As the old saying goes, "Rags to riches in three generations and back to rags in five!"

The psychology of wealth means understanding what impact wealth has on you and your family and includes developing healthy attitudes, beliefs, and emotions about your abundance.