Looking at Your Past Can Show You Your Financial Future

 Generally speaking, your money mindset is like an apple that hasn’t fallen far from the tree. That’s an analogy that often refers to a parent-child relationship. Your money mindset is generally similar to your parents’ as they have a large impact on your thoughts and feelings about money.

For example, when I was a child, I had to wash and reuse aluminum foil and plastic bags...and I still do this today.

 Here’s how your parents may have influenced you:

• How they managed their money affected your quality of life as a child
• How they spoke about money affected your thoughts about money
• Your parents’ reactions to financial setbacks made an impression on you whether you know it or not

 Here’s why:

 How your parents managed money affected your quality of life: Whether you wore hand-me-downs like I did, or your clothes came from the finest stores, this was a direct result of your parents’ thoughts about money. The types of foods you ate and whether or not you ever vacationed as a child was due to your parents’ decisions about their budget. If you lived hand-to-mouth or affluent, it was a direct result of your parents’ ability to earn and manage their income.

Their thoughts about money were absorbed by their personal experiences as well. For example, my parents grew up during the Depression, so this experience directly affected their thoughts about money. That’s why you may have had plenty of money but also had a parent who always thought the sky was falling so they never spent anything, or a parent who was always overspending and putting the family at risk with their financial decisions. And then, some were just plain horrible about managing their money; they didn't have any business sense, gambled it away, or didn't invest it for it to grow.

 How they spoke about money affected your thoughts about money: If your parents believed that the path to wealth was tied to working hard or saving for a rainy day, you likely place a very high premium on grinding it out and not spending. If your parents shared their worries over the utility bills or told you things you wanted were “too expensive,” you may have gotten the message that things you’d like to have are bad or make you greedy. These sorts of messages can linger in your psyche - even if you have more than enough income today.

 Your parents’ reactions to financial setbacks made an impression on you whether you know it or not: You may not have had a front row seat to the conversations your parents had when a financial setback happened, but you likely knew something was up. Tension in the home or blatant fear or anger often leak out when people are stressed about income. This tension or the outward expression of fear always has an impact. As a child, you may not have been able to connect the dots, but as an adult you might have unexplained weird feelings or thoughts about money simply because you were in proximity to your parents while they were under stress.

My personal childhood experiences are quite different from the norm because I went to work at an early age so that I could pay my own household expenses. I left my parents house as a child of fourteen, went to school, and went to work. I lived paycheck to paycheck most of the time. I remember getting my first checking account, paying my phone bill, rent, and utility bills. I didn't buy anything that wasn't necessary to my survival for many years. And when I used a credit card, I began to think about the true costs of using it because interest adds to the cost of my shopping experience. I knew that I was solely responsible for my own finances. My experiences influence how I think about money today.

 Looking back at your past can help you see if you have money mindset issues absorbed by your childhood. Left unchecked, these can be a predictor of how you will manage your wealth, financial and otherwise. The great news is, you can undo any negative mindset or beliefs that you absorbed as a kid and replace them with healthy and wealthy beliefs.

When you live from an abundant mindset, you'll experience abundance in all areas of your life: financial, relationships, career, etc..

 It's kind of funny, but one of the things I've witnessed  throughout my life is that those with so little, can be the most generous of all human beings.

I've recently binged watched a show on Netflix called The Kindness Diaries; the premise has a man traveling the world by motorbike in season one and a yellow VW convertible bug in season two, around the world without any money...he relies solely on the kindness of strangers. The stories have been heartwarming, particularly when he meets someone that lives with an open heart and is kind because he and his camera team give back in a big way...they have helped establish charitable foundations, paid for the education of others, food, and even purchased a cow for one family. 

The lessons we learn and the life we live can be one of lack or one of abundance...the choice is yours.

Cheers!

Lisa

P.S. Come on over to the Facebook page www.facebook.com/ahousewithfourrooms and join our group for inspiration and fun!