We all have emotional bank accounts. We make lodgements, withdrawals, we even take out loans and can go bankrupt.
Lets take an example. You have a friend who you see once a week. You tend to see them for an hour or two and it’s always pleasant. They’re making a little deposit in your emotional piggy bank each time. Then, lets say they ask you to pick up a bithday cake for their mothers’ birthday.
Two things happen here.
First, you might weigh up their emotional bank account balance vs the emotional cost of interrupting your day and getting this cake. They have pretty good credit, and this is a small withdrawal, sure, you’ll go get the cake.
Second, you’ll realise that by helping your friend out and getting this cake, you’ll actually make one large deposit in their bank account too.
There are plenty of other examples of emotional economics in action:
You know that friend you only see once a year, but they make a huge effort? They’re making a huge deposit to make sure they stay in equity with you for another 12 months ( that’s not a bad thing ).
You know that friend who loves to go out for drinks, and you have lots of fun with them, but they never pay for their round? They’re making lots of small transactions, but they’re slowly running out of emotional capital with your institution?
That person you were dating who you just broke up with? They just bankrupted you!
A lot of these interactions are one to one, and seem very financial, but remember that emotions can do something money cant, they can multiply. For example if you see someone helping and older lady across the road, they will both have gotten little deposits into their emotional coffers, and you might too, even though you werent involved in the transaction!
Another incredible things about emotional capital is that you can increase your profits by selling to yourself. If you’re emotionally in the red, feel free to take some time for yourself and it’ll soon get you out of emotional debt.
It helps to think about your emotional economics.