Understanding Our Relationship to Money

Have you ever tried to identify your money stories? Understanding your money story can be one of the best investments for 2023. A money story is a deeply ingrained impression about money that usually begins during childhood. In today’s episode, Mike Brown will share with you one of his own candid money stories that began with feeling embarrassed about being dropped off at school in his dad’s old car. At the time, Mike went to school in a wealthy part of town. He grew up watching his friends have nicer clothes, nicer cars, and nicer houses than Mike’s family was able to afford. Today, Mike Brown is a very successful entrepreneur, so you may be wondering why it’s still important for him to understand his money story. Be sure to watch the full episode to hear more about this money story from Mike directly, but for now, let’s look a bit more closely at the question:

Why is it SO important to identify and understand our money stories?

Our money stories create subconscious patterns that are always running in the background, and when we don’t understand them or aren’t aware of them, these stories can easily begin to shape our lives and dictate the terms of our relationship to money. These money stories were constructed by our brains during times in our lives when they helped us stay safe, stay positive, or continue to strive during times of adversity. Once our circumstances change and we become adults, these old patterns don’t just disappear. They continue to run on auto-pilot even if they are no longer helpful.

relationship to money
“If you haven’t clearly identified your money mindset, it may be standing in between you and your ability to build wealth.” – Mike Brown

In fact, many money stories that we learned as kids can hold us back and delay our success as adults! This is why getting to know our own money mindset is one of the best investments for 2023 and beyond.

One thing we can do to identify our money stories is to ask ourselves some tough questions.  

  • How do I treat people with different socio-economic statuses?
  • What did I witness as a kid in regard to my parent’s relationship with money?
  • What is one money habit that I wish I could change?

These are just a few examples of how you can begin to uncover and truly identify the heart of your own personal money stories. Be sure to watch today’s full episode for more in-depth coverage. It’s so important to learn more about how to make peace and find balance in our relationships with money, so be sure to read and participate in the comments section that includes the money stories from other members of the Wealth Factory community. 

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