Money Disorder
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Money Disorder
Money disorders refer to problematic financial beliefs and behaviors that can cause significant distress and hinder one's social or occupational well-being. These issues often stem from financial stress or an inability to effectively utilize one's financial resources, leading to clinically significant challenges. Money disorders refer to enduring and often unchanging patterns of self-destructive financial behaviors that lead to considerable stress, anxiety, emotional anguish, and significant disruptions in various areas of a person's life. Also known as disordered money behaviors, it is problematic financial behaviors people adopt in an effort to cope with emotional pain. Psychology and the mental health fields have largely neglected dysfunctional money disorders. The term is contentious among mental health professionals and as of 2023, money disorder is not a clinical diagnosis in either the DSM or ICD medical classifications of diseases and medical disorders. Although, it is debat ...
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Financial
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability asse ...
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Occupational
Employment is a relationship between two party (law), parties Regulation, regulating the provision of paid Labour (human activity), labour services. Usually based on a employment contract, contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuity, gratuities, bonus payments or employee stock option, stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, disability insurance. Employment is typically governed by Labour law, employment laws, organisati ...
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Self-destructive Behavior
Self-destructive behavior is any behavior that is harmful or potentially harmful towards the person who engages in the behavior. Self-destructive behaviors have been shown by many people throughout the years. It is on a continuum, with one extreme end of the scale being suicide. Self-destructive actions may be deliberate, born of impulse, or developed as a habit. The term however tends to be applied toward self-destruction that either is fatal, or is potentially habit-forming or addictive and thus potentially fatal. Self-destructive behavior is often associated with mental illnesses such as attention deficit hyperactivity disorder, borderline personality disorder or schizophrenia. Origin Self-destructive behavior was first studied in 1895 by Freud and Ferenczi when they first recognized how traumatic experiences affected the development of children. Freud and Ferenczi noticed that children who were raised in an unhealthy environment were more often the ones to act out and take p ...
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Anxiety
Anxiety is an emotion which is characterized by an unpleasant state of inner turmoil and includes feelings of dread over anticipated events. Anxiety is different than fear in that the former is defined as the anticipation of a future threat whereas the latter is defined as the emotional response to a real threat. It is often accompanied by nervous behavior such as pacing back and forth, somatic complaints, and rumination. Anxiety is a feeling of uneasiness and worry, usually generalized and unfocused as an overreaction to a situation that is only subjectively seen as menacing. It is often accompanied by muscular tension, restlessness, fatigue, inability to catch one's breath, tightness in the abdominal region, nausea, and problems in concentration. Anxiety is closely related to fear, which is a response to a real or perceived immediate threat (fight or flight response); anxiety involves the expectation of future threat including dread. People facing anxiety may withdraw fro ...
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Psychology
Psychology is the scientific study of mind and behavior. Psychology includes the study of conscious and unconscious phenomena, including feelings and thoughts. It is an academic discipline of immense scope, crossing the boundaries between the natural and social sciences. Psychologists seek an understanding of the emergent properties of brains, linking the discipline to neuroscience. As social scientists, psychologists aim to understand the behavior of individuals and groups.Fernald LD (2008)''Psychology: Six perspectives'' (pp.12–15). Thousand Oaks, CA: Sage Publications.Hockenbury & Hockenbury. Psychology. Worth Publishers, 2010. Ψ (''psi''), the first letter of the Greek word ''psyche'' from which the term psychology is derived (see below), is commonly associated with the science. A professional practitioner or researcher involved in the discipline is called a psychologist. Some psychologists can also be classified as behavioral or cognitive scientists. Some psyc ...
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Diagnostic And Statistical Manual Of Mental Disorders
The ''Diagnostic and Statistical Manual of Mental Disorders'' (DSM; latest edition: DSM-5-TR, published in March 2022) is a publication by the American Psychiatric Association (APA) for the classification of mental disorders using a common language and standard criteria and is the main book for the diagnosis and treatment of mental disorders in the United States and is considered one of the "Bibles" of psychiatry along with the ICD, CCMD and the Psychodynamic Diagnostic Manual. It is usedmainly in the United Statesby researchers, psychiatric drug regulation agencies, health insurance companies, pharmaceutical companies, the legal system, and policymakers. Mental health professionals use the manual to determine and help communicate a patient's diagnosis after an evaluation. Hospitals, clinics, and insurance companies in the United States may require a DSM diagnosis for all patients with mental disorders. Health-care researchers use the DSM to categorize patients for research purp ...
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Pathological Gambling
Problem gambling or ludomania is repetitive gambling behavior despite harm and negative consequences. Problem gambling may be diagnosed as a mental disorder according to ''DSM-5'' if certain diagnostic criteria are met. Pathological gambling is a common disorder associated with social and family costs. The ''DSM-5'' has re-classified the condition as an addictive disorder, with those affected exhibiting many similarities to those with substance addictions. The term ''gambling addiction'' has long been used in the recovery movement. Pathological gambling was long considered by the American Psychiatric Association to be an impulse-control disorder rather than an addiction. However, data suggest a closer relationship between pathological gambling and substance use disorders than exists between PG and obsessive-compulsive disorder, mainly because the behaviors in problem gambling and most primary substance use disorders (i.e., those not resulting from a desire to " self-medicate" fo ...
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Hoarding
Hoarding is a behavior where people or animals accumulate food or other items. Animal behavior ''Hoarding'' and ''caching'' are common in many bird species as well as in rodents. Most animal caches are of food. However, some birds will also stingily collect other items, especially if the birds are pets. Magpies are infamous for hoarding items such as money and jewelry. (Contrary to popular belief, research suggests magpies are no more attracted to shiny things than other kinds of items.) One theory suggests that human hoarding may be related to animal hoarding behavior, but substantial evidence is lacking. Human hoarding Civil unrest or threat of natural disaster may lead people to hoard foodstuffs, water, gasoline and other essentials that they believe will soon be in short supply. Survivalists, also known as preppers, often stockpile large supplies of these items in anticipation of a large-scale disaster event. Other items commonly hoarded include coins considered to ...
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Compulsive Spending
Compulsive buying disorder (CBD), or oniomania (from Ancient Greek, Greek ὤνιος ''ṓnios'' "for sale" and μανία ''manía'' "insanity"), is characterized by an obsession with shopping and buying behavior that causes adverse consequences. According to Kellett and Bolton, compulsive buying "is experienced as an irresistible–uncontrollable urge, resulting in excessive, expensive and time-consuming retail activity [that is] typically prompted by negative affectivity" and results in "gross social, personal and/or financial difficulties". Most people with CBD meet the criteria for a personality disorder. Compulsive shopping is classified by ICD-10 (F63.8) as an "impulse control disorder, not otherwise classified." Several authors consider compulsive shopping rather as a variety of dependence disorder. History According to German physician Max Nordau, French psychiatrist Valentin Magnan coined the term "oniomania" in the 1892 German translation of his ''Psychiatric Lectures' ...
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Debt
Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The debt may be owed by sovereign state or country, local government, company, or an individual. Commercial debt is generally subject to contractual terms regarding the amount and timing of repayments of principal and interest. Loans, bonds, notes, and mortgages are all types of debt. In financial accounting, debt is a type of financial transaction, as distinct from equity. The term can also be used metaphorically to cover moral obligations and other interactions not based on a monetary value. For example, in Western cultures, a person who has been helped by a second person is sometimes said to owe a "debt of gratitude" to the second person. Etymology The English term "debt" was first used in the late 13th century. The term "debt" comes ...
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Personal Finance
Personal finance is the financial management which an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events. When planning personal finances, the individual would consider the suitability to his or her needs of a range of banking products ( checking, savings accounts, credit cards and consumer loans) or investment in private equity, ( companies' shares, bonds, mutual funds) and insurance (life insurance, health insurance, disability insurance) products or participation and monitoring of and- or employer-sponsored retirement plans, social security benefits, and income tax management. History Before a specialty in personal finance was developed, various disciplines which are closely related to it, such as family economics, and consumer economics were taught in various colleges as part of home economics for over 100 years. The earliest known research in personal financ ...
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