You’ve likely noticed that we all have a different approach to money. There’s the friend who fastidiously saves, one who spends it as soon as they get it, one who would never want to appear indulgent, and another who wants to show the world their success.
Our money beliefs are formed early in life and are influenced by our family, culture, and personal experiences. These can be deeply ingrained and empower us, or limit us, when it comes to planning our financial future and achieving our goals.
Have you reflected on your own attitude towards money, and what drives it?
We encounter a variety of beliefs amongst our clients, do any of these resonate with you?
‘I’ll never have enough!’
If you’ll never have enough money, is there a point starting to save? It may make you feel the hill is just too great to climb, so you never get started. Alternatively, it might drive you to save every penny.
‘Money and greed are the source of the world’s problems.’
You might feel guilty accumulating wealth or engaging with the financial services industry.
‘Money can’t buy happiness.’
True, but it can provide security and freedom, which are important contributors to overall wellbeing. If you’ve seen comfortably off family or friends unhappy, you may see having money as causing problems.
‘Other people can be wealthy, but that’s not the life for me.’
You may feel impostor syndrome in a job, but you might feel it in your financial life too, especially if you earn far more than your family and friends. It may make you feel unworthy and undeserving of what you have.
It’s important to recognise that our beliefs are not necessarily based on facts or reality, but they do drive our actions. By challenging them and reframing our thinking, we can begin to take action towards achieving our financial goals.
Take a moment to reflect, how are your money beliefs impacting your financial future?
Ready to take your next step?
Matt Campbell is a qualified Independent Financial Adviser (DipFA, CeMap). He operates via Evolution Financial Services. Matt is based at Fleet St, London but works with clients across the country. For advice on pensions, investments, mortgages*, protection or estate
planning needs, please click the link or see contact details
below to get in touch with Matt.
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*A mortgage will be secured against your home. Evolution Financial Services is a trading name of Evolution FS Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Registered Number 597303.
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