Perhaps my childhood story will help you to uncover beliefs about money that you picked up yourself as a child.
Our first year in Vermont, I would be home alone in the house after school and would frequently answer the telephone to find intimidating bill collectors on the other end of the line. At this time, during my middle and high school years, there was a lot of tension between my parents due to our financial difficulties. My parents eventually divorced and my mother and I moved yet again to a new home in a low-income neighborhood of the city.
T. Harv Eker points out in his book, Secrets of the Millionaire Mind, that the financial story played out in children’s lives tends to repeat in adulthood. However, I was determined to avoid repeating the same financial error that my father had made. As a result, there have been few times in my adult life when I have incurred personal debt. I drive a 14-year-old Volvo and so avoid monthly car payments which can drain monthly household cash flow. My credit cards are paid off as expenses are incurred even before the monthly bill arrives. The only debt I carry is toward assets that will appreciate in value over the long-term such as my home.
Take Action: When we face financial challenges in adulthood we may find that our childhood beliefs are running the show. Take a few minutes to jot down the financial stories that played out when you were young and how your beliefs may be affecting the way you handle and feel about money now. This is a great exercise to complete with another person with whom you can share your experiences.
Copyright 2012 Connie Livingston All rights reserved
Good story and excellent advice.
ReplyDelete