The Ugly Truth about Your Money Beliefs
People rank money as the single most uncomfortable topic of conversation. According to a survey published by Wells Fargo in 2014, nearly half of the people polled said that money was the most difficult topic to talk about. It’s not surprising in a society that values independence and personal success, we know that as soon as a number is spoken, judgments will follow.
If no one is talking about money, then how do we learn about it? We may not discuss money with words, but through unspoken cues we consider it all the time. What we wear, where we shop, where we live, where we send our kids to school, what causes we support, all send messages about what we think about money.
Children pick up on these money messages at a very early age, as early as age four, and unconsciously incorporate them into their own personal money beliefs. We may have heard advice from our parents, or adults in our young years, say:
Money doesn’t grow on trees.
Money makes the world go round.
Money is the root of all evil.
A penny saved is a penny earned.
These pithy little sayings play a powerful role in shaping our money beliefs. For instance, “Money doesn’t grow on trees” may be said to encourage one to value money and not waste it. But it could also be sending a message of scarcity.
Understanding your money beliefs is critical to deciphering your money story and the current relationship you have with money. Because your beliefs drive your thoughts, which drive your feelings, which drive your actions, thus creating results. So your results are not an accident, but actually a result of your beliefs. For instance, if you believe you are not good with money, then you likely make poor decisions based on a lack of confidence, resulting in poor money decisions. You are stuck in a scarcity loop, ever reinforcing itself and leading in a downward spiral.
Once you understand your money beliefs and own your money story, you can rewrite your story, take destiny into your own hands, get on the abundance loop and be intentional about your money relationship. Who doesn’t want to enjoy peace of mind and confidence with money, make wise choices and financial decisions? Let’s get you shifted from the scarcity spiral to the abundance loop today!
Linda Lingo, Financial Coach
Empowering Women to Embrace Their Wealth