Financial Attitude and Financial Literacy


April is Financial Literacy Month! There are many aspects of being financially literate, and a significant part of that is your attitude.

Just like all other aspects of your life, your attitude towards your financial situation has a large impact on your finances. Your “financial attitude” goes hand in hand with your “money attitude,” as some refer to it.

What is a Money Attitude?

Your money attitude is specifically how you “feel” about money. There tend to be four major categories of money attitudes but it is possible to fall under more than one;

Adoring: It is pretty straightforward. If you adore money, you love to spend it. People who have this attitude tend to be impulse shoppers. He or she often relies on credit and shops because they can. They also tend to get themselves into debt because of this; they don’t recognize the fact that swiping your card adds up and they will have to pay it at some point.

Entitled: Those who have an entitled money attitude are the ones who love to show-off.  They have the best of everything, regardless of whether or not they can actually afford it. Behind closed doors, it is entirely possible they struggle financially and bare a large financial burden.

Avoidance: An attitude of avoidance isn’t about avoiding problems; it’s about avoiding the concept of money. This type of person gets stressed/ anxious about money very easily. They count every penny purely out of fear of not having enough. It is a hard attitude to change, but can still have a negative impact on your financial situation.

Cautious: Cautious people are those who are very frugal or “scrooges.” They refuse to spend their money on anything that isn’t deemed necessary. This can cause them to miss out on opportunities and any sort of enjoyment. They also tend to squeeze everything they can from their budget, but not in a good way.

What is A Financial Attitude?

Your financial attitude is how you react towards things such as money, financial obligations, etc. Your money attitude tends to influence your financial attitude, which also is split into four categories. Think of your finances as a pool, the deeper you go, the scarier it can get. The four categories can be represented by pool depths.

Hesitant to Start: These people have just dipped their toe in the water. They have started on their financial journey, but they do not have a foundation yet. They may be intimidated by doing things such as making a budget.

Taking the First Steps: These people have waded into the shallow end of the pool. They are involved in financial basics but still have not achieved financial literacy. If you fall into this category, take another look at your finances. Go over it with a fine tooth comb and see where you might have some mistakes and are possibly losing money. If you are dealing with debt at this stage and aren’t really getting anywhere, contact TLG today! We can give you a free consultation as to your situation and how we can potentially help alleviate some of your debt.

Making Progress: You are up to your waist in water but aren’t quite swimming yet. These people care about their finances. They track their expenses, manage to pay their bills, etc. People in this stage should focus on maximizing their money- whether it is paying down debts quicker or putting more money into savings/ retirement.

Solid Foundation: Welcome to the deep end! You can swim on your own, but that doesn’t mean you should stop your journey just yet. It is essential to keep learning about financial literacy and your finances! This will ensure you are consistently progressing towards your goals and be equipped to make informed money decisions. The key to having a solid foundation is to be prepared for unexpected financial disasters.

How Do I Change My Attitude?

Changing your money attitude first requires a desire to do so. You cannot be helped if you do not first help yourself! Here are a few tips to help improve your attitude and financial literacy:

  • Read financial literacy books such as Life and Debt by Leslie H. Tayne, Esq. Reading about financial literacy can enhance your understanding and help you realize you are not alone.
  • Take a financial literacy class- there are many education centers or community colleges which may offer these kinds of classes. They will help you learn how to manage your money and narrow in on where you struggle financially
  • Use the tools you are given. Things such as automatic payments, financial software, money management apps, etc. are all designed to improve your finances and reduce the stress placed on you.
  • Visit an expert! Sometimes big problems require bigger steps. If your debt is keeping you down it may be time to look into other debt repayment options or visit a debt consolidation expert. There are also financial advisors who can help you plan for the future. Advisors look at how you handle credit, what assets you have, etc. and determine how this will affect your future.
  • Acknowledge your problems! Everyone struggles with money at some point. Everyone has debt. It is important to face your debt head-on instead of denying it or letting it control you. Owning up to your financial situation goes a long way in changing your attitude towards your finances.

No debt is too big or small, what matters is how it affects you. If a debt is controlling your life, Tayne Law Group can help! Call us today for a free consultation about your financial situation. We aim to help all of our clients on their path to a debt-free life! You can also visit our blog for more helpful articles on a variety of financial topics.

cartoon man with envelope

Money moves to help you stay on track

Sign up for monthly updates, articles, money advice, and timely topics to keep your finances on track.

Related Posts

what happens to a merchant cash advance if my business closes

What Happens to a Merchant Cash Advance If My Business Closes?

Whether you’re ready to pursue a new opportunity or your business simply isn’t performing, there may be a time you decide to close up business for good. And if that’s the case, you might be wondering: “What happens to a merchant cash advance if my business closes?” Closing a Business About half of small businesses […]

Read Now
white man looking at laptop thinking

What to Do if MCA Lender Files a UCC Lien Against You

If you’ve taken out a merchant cash advance (MCA), you may already have an MCA UCC lien on your business credit reports. While this is typical for MCAs and other forms of business financing, it could impact your ability to get credit in the future. This is especially the case if the information in the […]

Read Now
dangers of debt settlement firms

3 Dangers of Debt Settlement Firms

When your debt is out of control, it’s important to act quickly and find a solution. One option is debt settlement, which can help you eliminate your debt and pay less overall. But the debt settlement industry has its share of risks and scams. So you might be wondering: Are there dangers of debt settlement […]

Read Now

What is debt relief?

Debt relief is an umbrella term representing many solutions that may lower your debt. What kind of debt do you have?

black woman cartoon next to question mark

Need other debt help?

If you’re dealing with a lawsuit, judgment, frozen bank account, notice of wage garnishment, lien, or simply feel out of control of your debt–you are not alone. Give us a call or schedule a free consultation. We’ll help you understand what’s going on and find the best possible debt solution.

Why people choose Tayne Law

A debt relief law firm

Personalized Program

Every situation is unique. We’ll work with you to find a solution that resolves your debt and frees up your cash flow.


You make one low monthly payment and will never get an unexpected bill.

Experienced NY Debt Attorneys

We have more than 20+ years of experience providing clients with debt relief.

Confidential & Trusted

As a law firm, our attorneys follow strict client confidentiality. Our services are discrete and effective.

Work with Creditors

We work with all creditors, whether you’re dealing with a collections firm, a national bank, credit union, or another lender.

Request a Free Consultation

Your initial phone consultation is free and requires no committment!
A team member will respond within 1 business day.

tayne icon on cartoon letter in enveloper

Message Sent!

A Tayne Law team member will respond within
1 business day.