We all have different values, attitudes, and behaviors that are unique to us based on our life experiences. These experiences and lessons extend to our emotional connection with money.
The lessons learned from our parents or caregivers regarding money can follow us into adulthood. Some of these lessons will help you while others may not. Let’s take a look at your money history by asking the following questions:
Growing up in your family was money mainly used to reward, punish, survive, impress, control help others, have fun, buy love or reach goals?
- What were the spending/saving patterns of you parents?
- When you were young, did you consider your family to be rich or poor or somewhere in between?
- What were you taught about money growing up?
- In your family, was money an issue, a source of conflict or a tool for achieving goals?
- As a child, what was the most important lesson you learned about money?
By reflecting on these questions, you may begin to understand why your values and concerns regarding money are what they are today. Your money history can be a key in helping you identify and deal with potential obstacles preventing you from achieving financial health.
Discussing your money history with your personal financial advisor can provide valuable insight, information and a plan to help you achieve the financial peace that YOU want.
Answers from AZ