On a very deep level what you learnt about money as a child and your family’s financial situation does influence you and it can have either a positive or negative impact on your financial security as you move into adulthood.

For example, a lack of money in your household as a child could result in you hoarding things or acting as if there will never be enough money. You might feel that your family was so broke when you were a child that as an adult you vow to make loads of money and invest wisely so that you will never go without again.

The point being that your childhood has a direct influence on your level of deserving financial security, wealth and freedom in adulthood – from the lowest of lack to the highest of abundance.

Check if you’re still wearing negative childhood money labels?

  • I’m bad with handling money.
  • I am a born spender.
  • I always pay too much for things.
  • I don’t bother researching anything to do with money.
  • I am happy to let others take care of me and don’t know how much money I have or how much things cost.
  • I don’t care where the money comes from or how much the interest on my car, credit card or home is costing me.
  • My parents support these labels by giving me pocket money for nothing, so I just expect handouts.

If you recognise yourself in any of these labels and want to take control of your financial future, you will need to stop acting like a charity case and start taking responsibility.

It’s only by creating a foundation of confidence and learning to understand your money psychology that you can shift your money stress to success. The aim being, to become the opposite of these labels and to let your integrity and responsibility towards money shine through.

Step 1 – Recognise your childhood lessons:

Did your parents teach you a good work ethic or a bludge work ethic – because this will dictate your work ethic as an adult and the flow of money you create? A bad work ethic often results in inconsistent work and money.

Positive money attitudes by parents teach you how to:

  • Earn money by doing a good job, in the agreed time frame, consequently you remain hired not fired.
  • Save money, delayed gratification so that you always have enough.
  • Respect your wallet and always know where it is.
  • Always place money confidently and neatly in your wallet to reflect your money psychology (confidence and order).
  • Do your market research and do the best within your budget so as not to regret an impulse purchase.

We all know that parenting is not an easy job, however supporting children without an improvement strategy is detrimental at any age and negative money messages set children up for certain financial failure.

Reflect on your learnt attitudes towards money:

Take the time to reflect on your childhood and the money attitudes instilled by your parents. Were they positive of negative? Consider what kind of money arguments your parents had when you were growing up? Are you following suit? Did they let you borrow money and not pay it back? Did they bail you out of financial problems? It’s by delving into these questions you will gain insight into your current attitudes towards money.

Step 2 – Recognise if you have negative money habits:

  • Do you still have old debts that need paying out?
  • Do you shout coffee, meals, drinks etc with your last money?
  • Do you give financial trust without it being observed and earned? Some would say you are naive, gullible or too trusting.
  • Instead of paying your debts do you always find an excuse, reason or emergency to spend the money on?

Don’t despair, all is not lost, you can turn negative money habits and attitudes from your childhood around. You simply need to excavate, inquire, be aware, be honest and mostly importantly be inspired to take some form of action.

Start by picking one of the questions above that upset you most and ‘Make a Pact to Act’ and I can assure you that your life will start heading in the right direction.

I hope you have found this blog helpful. Please share this with your friends to make a positive difference in their lives. In the meantime take care, if you have any questions or need help or guidance please send me an email or give a call on M: 0414 778 476 or visit me on Facebook @freedomchoiceacademy.

Zoe is the director of Zoe Slater Counselling and CEO Freedom Choice Academy. She studied at The Australian College of Applied Psychology, Sydney Campus and completed her Diploma of Counselling and Communication at the Brisbane Campus. Zoe is an Associate Member with the Queensland Counsellors Association Inc and a member with Australian Counsellors Association.

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Finance Physiology Is Your Childhood to Blame For Your Money Stress?