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What is your Money Story?

This year I have been doing a lot of mindset work. Why do I behave the way I do? Why do I have certain thoughts or emotions? Identifying behaviors and trying to find the root cause or experience that has influenced or created them. In June, I participated in a personal development course that changed my life. One element of the course was to identify what they call inherited legacies. These are expectations put on us by friends and family, our culture, and the world. It was very surprising to learn what my inherited legacies were and rewarding to decide which of them I choose to carry forward.

After that exercise, I began thinking about my behavior with money and wondered if I had any inherited legacies that needed to be addressed. When I was young, I remember noticing my grandparents were very frugal. Maybe it was that generation, but I wondered why they didn’t get out and vacation more, remodel their home, upgrade their vehicles, etc. Why aren’t they enjoying the fruits of their labor? Another legacy learned was that usually men are the breadwinners and that if I were to marry and divorce one day, I might struggle just like my mother did. She worked hard to provide for my brothers and me. At this place in my life, I can fully understand her situation and I can never thank her enough. 

I know now that these experiences shaped how I tend to live life more fully. Of course, I do all of the prudent things a financial planner should do, but I also make sure that my family and I always have fun. I want to work AND enjoy life, not work to later enjoy life. In the case of my grandparents, I don’t want to say I wish I would have. While in the case of my parents, I’m happy to say I have a very abundant life with my loving husband and two wonderful children. 

Have you ever thought about how you learned about money? Who were your influences? Think of your grandparents, your parents, or any other close relatives or friends. Take some time to build your family money tree. Do any of these experiences influence you today? Do you have any behaviors you’d like to change? If so, think of how you might adjust these behaviors to better serve you.

I know this task can be very overwhelming. It can bring up many emotions you haven’t felt in some time. As your financial planners, we want to help you achieve financial success and learn more about what that actually looks like to you.  We look forward to hearing YOUR money story. 

If you’d like to learn more about this topic and some actionable steps, please check out our video by clicking this LINK.

 ~ Diana Sailler