Advice For Miserable Millionaires

Money

Advice For Miserable Millionaires

January 16, 2003

Money can change everything … including bringing out the worst in people. If you or someone you know comes into a lot of money, Dr. Phil suggests you keep this in mind.

Give yourself the right to say no to someone who’s asking for money. It’s your choice, so give yourself permission to make a decision that makes you feel comfortable. Don’t feel guilty for doing what you decide.

There is no moral imperative for you to enrich your friends and family. If you win money, that money is yours.

Don’t let someone hold you emotional hostage. At the same time, ask yourself: Is the money worth losing a loved one over?

Remember that “no matter how flat you make a pancake, it’s still got two sides.” Put yourself in someone else’s shoes and consider alternate perspectives.

You don’t solve money problems with money. If someone’s in a financial bind, it’s not your problem to fix. Besides, bailing someone out financially will not necessarily solve the problem.

Decide what it means to “help” someone. Will that money really make all the difference? If you had the money for a life-saving transplant that a loved one needed, would you offer it up? Giving someone the money may not be “helping.”

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