Over the years, I have come to understand that your relationship with money reflects the relationship you have with yourself. In many ways, money issues mirror your mindset, your ethos, the things you believe about your life.
This relationship you have with money can either be constructive and healthy, or it can boycott your personal (and financial) wellbeing. I have met clients who simply believe in abundance and this impacts how they approach money and their lives. I have also met clients with deep-rooted fears about money that often stem from their early childhood years. This destructive relationship with money becomes their reality and writes the script for their money stories into their retirement years.
Your money story is the subconscious tale you tell yourself about what money means to you and it determines the relationship you have with money. How you think, feel and engage with money represents your personal reality.
Unfortunately, uncertainty in the economic and political arena can often trigger emotional and behavioral responses rooted in fear. We start worrying about our savings and investments and start making irrational money decisions based on anxiety.
I am constantly reminded how challenging money stories can be. To fully understand your money story takes some introspection – it is hard work try to make sense of the psychology and the personal drivers behind your particular relationship with money.
Bruce Lee expressed it so beautifully by saying “As you think, so shall you become.” And this is true for money stories. We are the ones that give meaning to money, and the meaning we give to money manifests in our self-statements and behaviour. Once we understand our money stories and can extrapolate how this has formed our relationship with money, we can begin to understand the money patterns that are governed by our stories.
The goal is to get to a place of deciding whether our relationship with money serves us, or whether we need to make changes to the story.
If you are feeling anxious about how you are transacting in the money space or would like to do some introspection on your relationship with money, I invite you to read the money story articles that form part of my Courageous Currency blogs. It is a series of six articles taking you through the journey of understanding, taking ownership, assessing and changing your money story. The links to these blogs are listed below:
Understanding our money myths – our stories – are essential if we’re wanting to know ourselves a little better and make sure that we make the best decisions going forward.