Victim mentality is an epidemic that continues to plague our society. It is a sickness that keeps on spreading. Understanding why it is a sickness and how it affects the financial stability of a person is the only way to avoid it. If you want to improve your financial situation, you need to avoid victim mentality at all costs.

The Problem

A person with a victim mentality has the grave problem of attributing the guilt for their financial misfortune on someone else. People tend to blame banks for their credit card debt. Some blame the government for not protecting them by imposing a higher minimum wage.

The list of issues that the ones who see themselves as victims are quite long.

This type of mentality of blaming banks, the government, or corporations is flawed as it implies that the individual is not responsible for their own misfortunes. The concept is that there is always always someone else who is at fault for getting them into a debt or negative position. I’m sure that we all know someone who fits this quite well.

It is as if the banks force-fed them with credit cards and forced them to spend more than they should. If an employee is struggling financially, it blames the company for not paying him more to enjoy a more lavish lifestyle, without thinking how much his skill set is worth for the company. Not taking responsibility for such problems leads to a vicious circle in which, people do not take any action to improve their own financial situation. Victim mentality is a major blocker when it comes to financial literacy.

In some cases, a person that is deeply indoctrinated with victim mentality may be misguided into thinking that there is just no way out. They may tend to see their situation as being caused by forces outside their control. An easy one is to blame the government for all of their problems that they currently face.

The Solution

The first step is to take responsibility for the financial mistakes you have made.

Regardless of what it is that may have gotten you into a bad financial situation, it is up to you and your own will power to act and to get out.

Maybe you need to:

  • Start saving
  • Try to earn more, by seeking an additional stream or income
  • Consider a career swap
  • Spending your money wisely

Nobody will take responsibility for the financial trouble that a new car may have caused you. Instead of spending your energy to blame others for your financial wrong-doings, you could focus on getting out of a tough situation.

You should also stay away from other persons that have a victim mentality. Even if you may have the financial literacy to understand that someone close to you is misguided, their victim mentality will also negatively influence you.