The way in which we make money decisions was formed at a very young age, often by what was modeled by our parents or primary caregivers. This becomes embedded in the subconscious mind, and for a large majority has created fear of making the wrong choice, which often leads to not doing anything and hoping things work themselves out. You may even experience a sense of shame for making poor money choices, that has you carry around a great deal of guilt.
So, what can be done about it?
Start by forgiving yourself, as well as your parents / caregivers. None of us are more critical or hard on ourselves than we are. Give yourself some grace.
Shifting your mindset from a negative to a positive and constructive view of making healthy money choices involves exploring your earliest money memories and identifying the negative traits presenting themselves to you now. For example, if you grew up in a household of scarcity, but now earn a good living or have accumulated a lot of money, you may be frightened by making money decisions that could bring you back to your childhood fear of not having money in the future. By developing this awareness, you gain control over your choices, and ultimately feel more confident.
Those willing to explore their inner relationship with money are more likely to reach their financial goals as they have an easier time making financial decisions, thus being more successful at reaching their potential. Every one of us has that capability, it just takes some work to reshape the narrative in your mind.
