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Learn Your Money History


 

"Without understanding our past relationship with money, we cannot understand our current relationship with it."


-Ted Klontz

 

I'm sitting at my desk in my home office, scribbling onto a piece of paper. I feel sad. I'm exploring parts of my life that I haven't thought about for a LONG time.


I'm taking a financial psychology course, and the professor thinks it's important for us to learn about our money beliefs and money history. If we don't know about our own story, the idea is, how can we help clients understand theirs? It makes perfect sense when I think about it like that.


However, I think I'm fine. I don't need to do this stuff.


Then, I start doing the exercises. It quickly becomes uncomfortable. I'm remembering parts of my life I forgot existed. Things are starting to click. It now makes perfect sense why I'm taking Kung Fu classes; I was embarrassed as a kid in karate class and never got to learn any martial arts. I know why I didn't have a lot of friends growing up; because I was embarrassed to invite them to my apartment because everyone else lived in a house.


I get it now. Without understanding my money history, I would be ill-equipped to help anyone else with theirs.


No matter where you are in terms of your finances, exploring your history with money can give you insight, clarity, and peace of mind - even if it's uncomfortable at first.


money history drives behavior

Financial Behaviors Come From Scripts


All of our financial behaviors; good, bad, or otherwise, are a result of our money scripts. If you feel very uncomfortable when your checking account drops below $1,000, it's because of a money script. If you spend money faster than you can get it, it's because of a money script. If you only buy name-brands, it's because of a money script. If you get anxious when others start talking about money, it's because of a money script. If you get nervous at the thought of spending more money than you made in a particular week, it's because of a money script.