Money & Mindset

money mindset

The foundation of how and what we think about money often comes from the environment we were raised in, and our parents own views. We need to be very mindful of what exactly they taught us about money and how this impacts the decisions we make today.

Cast your mind back to your childhood and ponder a few vital questions:

  • What did you notice at home when it came to the family finances?
  • Did your parents fight constantly about money or was the topic just ignored or never even mentioned?
  • Did they teach you lessons like ‘money is the root of all evil’ or  ‘money doesn’t grow on trees’ or ‘kids/pets are expensive’?
  • Did they live in scarcity, always ‘being on a strict budget’ or having to ‘tighten the belt?’
  • Did they live beyond their means or were they extreme savers?
  • Did you see them give money away to the homeless or did they actively support any favourite charities?
  • How are they around money now?

Can you see any familiar patterns? Are you personally excited, apathetic or pessimistic about money?

It’s time to have a bit of a think about our personal beliefs around money.  Where do you think the ideas came from?  Some notice early certain thought patters that they don’t agree with and are brave enough to take the step and change mindset, thinking, “I’m going to do things differently!”

And for the really good news; you really do get to choose what you want to believe from now on.

The patterns and beliefs of your parents, were also handed down from their parents, yet each generation can have vastly different circumstances to be raised in.  These ideas from your parents don’t have to be your ideas any more. You can choose to challenge the thoughts once you start being aware of where they originally came from.

So, is there one idea you can change that may help your relationship with money?

Amanda is the Adviser Director of Wealth Planning Partners. She is passionate about assisting her clients with The WPP Way, helping them Secure, Build and Succeed financially. She is Gold Coast based, but loves travelling domestically and internationally.

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