• Yemi Penn

Have Your Parents Influenced Your Money Story?

From a very young age children can hear, see, and pick up on everything that is going on with the adults in their lives. And when you were a child, you were no different.

Many of the attitudes and beliefs that we have created around money were formed at a very early age as we downloaded and absorbed how our own parents dealt with and spoke about their finances. Some of these beliefs, such as saving and having an abundance mindset tend to be beneficial. Others, like the belief of never having enough money, can be more harmful than helpful as we try to build wealth in our own lives and generations ahead.

Answering these three key questions can help you look at your financial upbringing with a different perspective.

1. What was money like growing up?

Think about your experiences as you were growing up. Did you find yourself always comparing your lifestyle to other families? Did your family believe in saving for the future or spending in the now?

Did you take frequent vacations? What were holidays and birthdays like?

At the more serious end of the spectrum, an unexpected job loss, medical condition, or death could have had a profound impact on your family’s finances. What stories did you create from all these experiences?

2. What was money like for your parents growing up?

Many baby boomers were raised by parents who had to severely restrict their spending of money during the Great Depression and World War II. Their generation probably impressed upon your parents the value of working hard, saving money, and perhaps some real apprehension when it comes to finances. Did your parents pass these same values to you? Or did they do go against the grain and make money work for them?

3. What specific lessons were you taught that you have continued?

The world has created a class system that had and still have families recognise themselves as working class, middle class etc. Whatever ‘class’ or label you and/or your parents associated yourselves with may in fact be holding you back or propelling you into an abundant life.

Did your parents view wealthy people with suspicion or even resentment? Do you know why? Have you carried on in their thinking? How is that serving you?

Your parents may have taught you what they valued outside of money. Perhaps they sacrificed their own leisure and comforts so that you could have a better education or attend after school activities you might otherwise not have been able to. The question is, did what worked for them work for you? The sum of all these memories, neither positive nor negative, is a blueprint to your financial thinking.

If you want to understand more about your genetics of money and how it could be affecting your current financial situation, join me at my FREE Genetics of Money Webinar running at 8pm every night.

Click here to join >>

Love and Light,

Yemi x

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