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Most spent money by women11/3/2022 ![]() What’s your earliest childhood memory about money?.Questions to Ask Yourself to Identify Your Money Script It might surprise you what pops up when you start writing without any goal or expectations. To get the most out of the questions, write down your answers. Things can come up that you didn’t remember were there. Let go with your honest thoughts, feelings, experiences, and impressions about the issues. You’ll need to answer some tough questions. ![]() To identify your money story, you have to dig deep. With this awareness, you can move forward – and alter the script if it needs changing. This knowledge promotes an understanding of your present thoughts, feelings, and decisions about your finances. Identifying the money story that formed early in your life can help you move forward with a new awareness. How do you think your financial script has affected these decisions? Identifying Your Money Story Think about paying bills, owning a home, buying a car, work and income, and other money-related decisions. Most of us can look back to our childhoods to see how this money mindset formed. Sometimes even when there is more money coming in, it never feels like enough. Or perhaps you go the opposite direction, and just don’t want to deal with money, since it’s a source of pain from your past.įor many, a scarcity mindset about money, or a feeling that “there is never enough,” is common. Or you seek complete control over the finances in your relationships. In an attempt to avoid that same problem in your adult life, maybe you strive to accumulate more and more cash. In your child’s mind, you infer that if your family only had more money, the difficulties and unhappiness would go away. The story you may have picked up was that the “lack” of money was the problem in your family. This unhappiness stemmed from your parents fighting about their finances. And it influences how you handle finances in your relationships.Īs an example, let’s say you experienced trauma or unhappiness as a child. It sways decisions about your job and income. It can determine whether you buy a house (and how much you spend). It might affect you when you’re trying to decide how much to spend on a car. Your money story can affect your finances more than you think it does. It’s easy to give money a lot of power in your life. It’s linked with emotions, such as shame, fear, pride, control, and more. It represents much more than a tool for life. When you think about money, it’s never just about the money. Or perhaps it gave you negative perceptions that have stunted your financial success.Įither way, it’s important to understand how it affects your finances right now. Maybe your story gave you all the tools you need to be successful with your finances. Your money script can have good chapters and bad chapters. And it formed the beginning of your money story. You might not think you picked up on how money was handled when you were young, but it affected you. You sensed strong emotions and remembered specific experiences-particularly those that were traumatic or uncomfortable. And you noticed how your parents handled financial situations. You heard conversations and casual comments. As a child, you observed the adults in your life – even when they didn’t know you were paying attention. It is passed down to you from parents and other influences in your young life. Your money story started forming in early childhood. Money stories are often generational and culturally based. It makes up your beliefs, thoughts, and feelings about money – and affects your financial behaviors. What is a “Money Story”?Ī money story is a personal narrative about money. We’ll also discuss how you can identify your money script and create a new one. And you carry your money story from the past into your adult life.īy better understanding your story, you can take steps to improve your financial future.īelow we’ll explain what a money story is and how it can affect your finances. Your money story was written, whether you realized it or not. Or perhaps it was things such as extreme frugality or spending, parents arguing about money, or a feeling of tension about paying the bills.Īll these experiences combined to form your money story (or money scripts, as some call them). Maybe there was a traumatic event, like a job loss, death, or divorce. And, more often than not, these feelings about money stem from your childhood.Įven if the adults in your life didn’t openly discuss money as you were growing up, you still picked up on how it was handled in your family. Money can elicit a whole slew of feelings: shame, pride, guilt, stress, and more. Spending money on things for yourself is selfish. I need X amount of money to have peace of mind. If I had more money, _ wouldn’t be a problem. ![]() (This page may contain affiliate links and we may earn fees from qualifying purchases at no additional cost to you. ![]()
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