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The stories you tell yourself about money originate with the stories your parents told you about money.

Your beliefs about money may not be the result of things explicitly said as much as implied through the behavior and actions of the adults in your family.

As an example, below are 10 Toxic Money Beliefs that I inherited from my family.

There isn’t any blame in this list. In most cases, these were inherited beliefs that came pre-installed on a cultural level and were based on a limited understanding of all the variables at play.

My goal has been to change that in my lifetime.

My 10 Toxic Money Beliefs:

  1. Money is hard to make and difficult to manage
  2. Bills can be paid late
  3. If you have the credit, spend it
  4. Saving money is done infrequently
  5. Investing is too complicated to even attempt
  6. There’s no need to study money or personal finance
  7. Taking on debt is to be expected
  8. Talking about money is rude
  9. You should definitely buy a house
  10. Working a job will guarantee your security

As I got older, these beliefs became barriers to further growth. So I worked to discard them. I’ve gradually educated myself over the last decade and now I’m at a point where my understanding of money makes it much less confusing, scary or vague.

Now might be a good time to begin thinking about what beliefs your parents instilled in you and how those ideals have affected your relationship with money. You might be surprised to see the ripple effect that your upbringing has had on your money story and current financial situation.

The good news is that beginning now, you can make new decisions to change your trajectory by becoming a student of personal finance, not a victim of it.

Not because you all the sudden have become passionate for accounting and spreadsheets — but because you are passionate about your own continued evolution, and you see your relationship with money as a representation of the one you have with yourself.

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