What is your relationship with money?

Here are the top trending personal finance questions in 2022

You weren't born with those beliefs: you learned them. Take a deeper look. Those beliefs were unknowingly imposed onto you at a young age - usually by well-intentioned parents, guardians, or family influencers. The critical part is: you likely don't even link your current financial situation to your youth. That's because, as Ed Mylett put it: you have an internal thermostat that always regulates your affinity with money from an internal belief that maintains it - based on what you believe you deserve. Your thermostat was set early on by conversations you had about money or the exposure from what your parents did with it. Ever notice later in life: if you came into financial growth something just happened and knocked you back to where your were? On the other hand, if you felt you were at the end of your financial resources, you somehow managed to get into a better situation...but just enough?

 

I'll presume you're reading this blog because you're looking to be in a better financial position. The narrative above runs in our minds daily, whether we notice it or want to admit it. If you felt somewhat aware of this connection but haven't figured out how to change this, it could be that you didn't have examples of other people just like you who did things differently and got where you want to be. The narrative can change when you find the right role models or examples of people who did things different enough from you that improved their circumstances. If you're willing to commit to working differently, listening to someone who's been there before - as a guide, and actively working to change the setting on your "thermostat": your mind has the ability to gradually alter the relationship you had with money and replace it with a different one. You will have to work at it daily, just like going to the gym if you knew good health depended on you giving up excess weight: you have to apply consistent effort over time. This will not be an overnight success, but it will be the success you intentionally create. Once your thermostat is set higher, your subconscious will bring things into your life to maintain it.

 

This is not dreaming about financial success or incantations to achieve riches. Good, practical habits are key to having a good relationship with money. For example: do you work with a budget, what sort of debt do you carry, how do you deal with debt, have you identified specific goals relating to what you want in life, or do you work with an advisor?

 

What's your awareness about being handed your relationship with money by someone else while you were younger?

 

I'd love to hear about your experiences and your exposure. I will be sharing more actionable principles to create a better understanding with my readers about money and how you can make it work for you.