by Judy M McCutcheon
Dr Eric Williams, the former Prime Minister of Trinidad and Tobago, once said, “Money is not the problem, the problem is money.”
But is that really true? I would argue that the real issue is not money itself, but our relationship with money. How we perceive, earn, and spend money is often shaped long before we realise it, and the stories we carry about money influence every aspect of our lives — from our careers to our personal happiness.
So, what is your relationship with money? Is it healthy, or is it full of tension and anxiety? The answer to that question can often be traced back to your early experiences. Research suggests that 80% of our money mindset is formed by the time we turn 10 years old. Think about that for a moment. By the time most of us hit double digits, our beliefs about money — how we earn it, save it, and spend it — are already deeply embedded in our psyche. And most of these beliefs aren’t even our own. They are inherited from our parents, caregivers, and communities.
The impact of childhood on money mindsets
If you grew up in a household where arguments about money were common, there’s a good chance you have an anxious relationship with money as an adult. You may even find yourself subconsciously getting rid of it as soon as it comes in, because your brain has associated money with conflict and stress. You may not realise it, but this “money rejection” is your mind’s way of trying to avoid the discord you witnessed as a child.
If you grew up in a home where money wasn’t discussed at all — where it was seen as something only for adults — you might struggle to have money conversations. Maybe you avoid talking about it altogether because your brain tells you that money is a taboo subject. Money, for you, is something that remains in the shadows, a topic to be avoided at all costs.
Now, what if you grew up in a home where saving was prioritised above all else? Every penny was put away, and spending on non-essentials was discouraged. As an adult, you might find yourself hesitant to indulge, even when you can afford it. You may want those beautiful shoes, and you know you can afford them, but that little voice in the back of your mind keeps whispering: “Do you really need them?”
And then there’s the flip side. If you grew up in a household like mine, where money was tight and food was scarce, your spending habits today may be driven by the fear of scarcity. You might find yourself overspending on food or anything else that brings you comfort because your mind is trying to protect you from ever feeling deprived again.
Money and the modern workplace
Our relationships with money don’t just affect us on a personal level; they have profound implications in the workplace too. For decades, companies treated their employees as little more than cogs in a machine — resources to be used for maximising profit. The connection between employee well-being and profitability was overlooked, or worse, dismissed. But we’ve reached a turning point, a new era where companies are starting to understand something important: people matter more than anything else.
The outdated notion that employees should show up, do their jobs, and collect a pay cheque without question is disappearing. In its place is a growing awareness that engaged, fulfilled employees are the backbone of sustainable profit. According to a recent Gallup study, engaged teams are 21% more profitable than their disengaged counterparts. That’s not just a statistic — it’s a fundamental shift in how we view the relationship between human resources and business success.
We’ve already seen the rise and fall of different workplace philosophies. There was a time when businesses believed that machines could replace people, leading to an over-reliance on automation and scripted customer service. Think of all those frustrating automated systems that left you pressing countless numbers, only to never reach a human being. Then came the realisation: machines can’t replace the human touch. People want to interact with people.
The new era: People over profits
Today, we’re entering a new phase, one where organisations are finally acknowledging that the humans within their companies are the most critical factor in achieving long-term success. They’ve come to realise that it’s not enough to simply have employees fill roles. Having the right person in the right job is essential. Training and development are no longer seen as unnecessary expenses, cut at the first sign of financial strain. They are critical investments in an organisation’s future.
What’s even more groundbreaking is that companies now understand their employees want to bring their whole selves to work. People don’t want to be treated like separate beings — a professional self and a personal self. They want to be recognised for who they are in their entirety. This means acknowledging their mental, emotional, and financial well-being as integral parts of the workplace dynamic.
This shift has profound implications. Companies that truly care for their employees — those that see beyond the pay cheque — are the ones leading the way. They understand that employees who feel seen, heard, and valued are far more likely to be productive and loyal. As a result, these companies experience lower turnover, higher employee satisfaction, and a greater sense of purpose.
A new relationship with money at work
It’s becoming clear that businesses can no longer afford to treat their human resources department as just a personnel function. The role of HR has evolved. It’s no longer just about hiring and firing or managing payroll. HR is the guardian of workplace culture, employee development, and ultimately, the sustainable profitability of the company.
For organisations to thrive in this new era, HR must have a seat at the executive table. Without it, companies risk falling into the same old traps: treating employees as expendable, cutting corners on development, and losing out on the full potential of their workforce. Today, profit and people are intertwined, and you can’t achieve one without the other.
The final thought
As we move forward, one thing is clear: our relationship with money — whether personal or professional — matters more than ever. If we don’t address our mindset around money, we’ll continue to make decisions that undermine our well-being and success. The same goes for organisations. Companies that fail to invest in their people, that treat their employees like mere commodities, will struggle to achieve long-term profitability.
Money isn’t everything, but everything is money. How you relate to it — whether in your personal life or in the workplace — determines the quality of the life and career you build. So, the next time you think about money, ask yourself: what’s your relationship with it?
©All Rights Reserved.
Judy McCutcheon is the CEO of Go Blue Consulting and a Certified Leadership and Trauma-Informed Coach.
