Your Money Habits Won’t Change Until You Change Your Mindset
While many people believe that acquiring more money will solve their money issues, it is really the effectiveness of one’s ability to manage money that needs to be examined (and altered) in order to create financial success.
At VFS, we firmly believe that money management is not based on purely numbers alone — the emotional and psychological aspects of managing money weigh heavily on how people manage their money. Do you know someone who attends every financial seminar held at their job, church, or local conference; yet, he/she still has problems managing a budget? Do you know someone who spends money on expensive items although they know it will impact their ability to pay for their rent or motgage for the current month? Have you ever wondered why you manage money the way that you do?
It’s scientifically known, through various research studeies, that most of our money behavior (whether good or bad) is directly tied to “money messages” we received during our childhood — things we were told, saw, and even those things never mentioned. In this “Money Messages” section of our VFS website, we will explore money personalities, the symptonms, root causes, and steps to re-wire your money mindset in order to move forward to successfully controlling your financial future.
ACTION STEP:
Share your answer to the following question: What money messages did you receive from your parent(s) or guardians? -submit your answers by posting a comment. by submitting a - Here’s an example: Sharon’s mom always told her and her siblings to “wait until I get paid” when they were kids and asked for something; however, their mom was never able to get the items because she had to pay bills & rent with her paycheck. Because of this negative experience with the “wait to I get paid” money message, Sharon as an adult always buys herself something (an outfit, handbag, shoes, etc.) on payday — even if she ddoesn’t need it.
To get a financial gameplan for your life that takes into account your money habits and personality, please contact our office by phone or send an e-mail to info@vfstrategies.com. (mention “Money Messages” and you’ll be entittled to attend our upcoming tele-conference on March 24, 2011 for FREE)
As we continue to provide financial advise, and conduct research in the area of behavior finance/financial psychology, we encourage you to share your comments and questions here on the website, and please share our website with people in your network.
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