Your life story and how it shapes you

I have talked before about my own life story. How my childhood and my parents’ financial attitudes affected my own relationship with money.

But what is shaping your approach?

When we first consider this, we tend to look back to our childhood. Was money in short supply and how did that affect us? Did it mean we didn’t have holidays and new toys? Did we wear “hand me downs”? Did we hear our parents argue about money?

And, by the way, there are many people who have very good memories of their childhood, even if money was not plentiful. This is more about how it affects your memories and your dreams for the future, not a judgement of the past.

What about school?

Were you a victim of bullying or did you witness others being bullied? Were there themes around being posh, or not having the cool stuff? Either can be hugely detrimental and have lasting effects on you.

These days, schools are trying to integrate some financial lessons into the curriculum, although I believe there is room for a lot more. Ensuring every child has a good base understanding of credit, debt and how to manage their money is an essential life skill. And one that not all parents are equipped to give their children.

Did you go to university? Starting your working life with a substantial debt hanging over you will have focused your mind and approach in a different way to those who left school and went straight to work.

When you started work how were you paid – weekly or monthly?

This has an interesting effect on how you tend to budget and spend money. It may still affect you now, even though you have moved away from that cycle years ago.

Did you spend a long time living at home before moving out? For some this means they saved like crazy to give them a deposit and a secure footing when they were ready to move. For others it has led them being more complacent, and used to relying on others to make financial decisions. What has this done for you?

What about your partner? What is their relationship with money like? They may well have had a very different upbringing and set of life experiences to you. As you can see this will colour their financial perceptions – and explain why they may feel differently to you.

If you are in a relationship, do you have separate bank accounts or a joint one? Spending money on anything other than living essentials can feel very different when someone else can see your spending habits. You have to find the path that is right for both of you, but you should be aware of how you behave, and if you feel constrained because of it.

How often do you sit down and think about your life and where you want to go?

Yes, ultimately, this is about your LifePlan. But even just looking at the next year – do you want to live in the same house, be in the same job, do the same leisure pursuits?

Being content with your life and feeling fulfilled will give you an entirely different outlook to money, over someone who feels frustrated and trapped.

If this is resonating with you, why not give me a call and we can talk about creating a LifePlan for you – 01344 875 310.

Start getting a return on your life…

First steps: Take your free Return on Life Index assessment

your life story
Start getting a return on your life…

First steps: Take your free Return on Life Index assessment