Many beliefs and attitudes were developed when people were very young. They watch and learn lessons from parents, other family members, friends and teachers. Usually, people don’t realise what they’ve picked up along the way and, unknowingly, other’s beliefs and experience begin to become one’s own.
While money management skills can be quite easily leant, attitudes and behaviours are often more difficult to tackle. They can result from deeply ingrained beliefs or experiences. It’s important to realise what beliefs one has about money so one can establish which beliefs need changing.
Many people will have some kind of fantasy about money lurking in their subconscious. A person’s brain can trick them into believing these fantasies could actually happen. However if one really thought about it , it would become clear just how silly they really are. Do any of these sound familiar?
- Lottery Living: Actually believing you might nab a winning ticket, and believing this every week.
- Marry a Millionaire: And that single-minded focus keeps a person both single AND broke. A spouse is not a financial plan.
- Waiting for a Windfall: Miscellaneous hopes for an inheritance, a bank error in one’s favour, a pot of gold in the back of the garage, etc.
- Thinking someone is going to pay a wage that’s waaaaay more than they should, enabling one to retire in two years.
- Sudden Success: Sell that screenplay or invent a new kind of peanut butter which will make one into a gazillionaire.
- Do What You Love, The Money Will Follow: The title of an actual book that has created financial disaster for everyone who followed its precepts.
- Ignorance Is Profitable: The crack-based notion that by not paying attention to your money . . . one day you’ll wake up RICH!
- Things Have a Way of Working Out: When clearly they don’t if you don’t do anything about it.
- I’ll Do It Later: Time has an uncanny ability of disappearing and you wake up 30 years later still chanting to yourself you have plenty of time and will do it later.
- Money is not everything. Right! Try living without it for a month.
- Denial. I am not that out of shape
Now at this point readers are probably laughing. But, if you think about it, at some point in time, at least one of these thoughts has gone through your head, or you’ve heard someone else say them. Sometimes people make these comments in jest to either themselves or others, but it could be just what’s really going on in their head.
The most important point is that every person is responsible for their own beliefs about money and every person has the power to change these beliefs.