From the time we are born, the experiences we have had has shaped our attitudes and perceptions towards life. It’s hard to know what our true values and beliefs are in a world with an overload of information, both accurate and inaccurate. Money is not an exception to this rule. The way we see our parents behaving with and around money instils some certain perceptions in us.
This could go both ways. It could be extremely positive and it could be extremely negative. You may end up adopting some traits, such as overspending, not investing, or saving and hoarding your money too much. This can, in the long run, lead to a financial disaster. 7 Signs That You Are Headed Towards A Financial Disaster
The source of negative money perceptions is wide and varied. Perception of money came about from one’s personal experiences. Down to our DNA, our personality plays a part as data is already collected in our neurology.
It’s rare to grow up in an environment that teaches you how to use money in an unbiased way. So, as we age, we collect perceptions from our parents, cousins, teachers, friends, and siblings including how to plan or not plan for our money and also how to handle black tax. This is definitely not the right way to gain information, seeing as it is unfiltered. It is also nearly impossible to stop it from happening. The only thing you can do is change the negative perceptions when you can.
For this reason, it is important that we acquaint ourselves with information that can help us to rewire our brain and how it views money. In one of Oprah Winfrey’s podcasts, Super Soul, Lynne Twist discusses ‘The Soul of money.’ In a powerful statement, she says that by letting go of our deep-seated financial myths, we can begin to align how we earn and spend our money with our souls.
So, just how do you let go of these myths? The first, and probably most obvious way, is to look for credible research and information. Read up on money habits. Just because your parents invested in something does not mean that you should, too. Just because they condemn a certain financial service doesn’t mean it’s entirely bad. You don’t always have the same money goals as other people. It’s not a copy and paste thing. You need to read up yourself and make individual decisions.
Money myths are everywhere. People project their insecurities onto you and influence your perception, sometimes negatively. For example, you do not have to worry about money to make money. Instead, just trust your gut. When something doesn’t feel right, it’s usually for a good reason, even if you can’t put your finger on why.
Some of the stories you hear out there about money are not entirely true. People make conclusions and assumptions without full knowledge of financial products and experiences. Then, when things go wrong, they blame the institutions, even when they had not done their due diligence.
When you change your perception of money, it can open up opportunities for you and help you be better with your finances. Start paying attention to your money personality. What are its downsides, and in which ways is it holding you back from achieving your goals? Consume content around this and be sure to make actionable steps to rewire your brain’s perception of money.
There are a few things you can do
- Like read financial information books or listen to podcasts
- Get a financial advisor – Reasons To Have A Personal Finance Adviser
- Go for classes to learn about finances – Why You Should Consider Taking Classes On Finances And Investments
- Also, teach your children about money early so that they have the right perspective about money. 7 Ways We Can Teach Children The Importance Of Financial Management