Whether your family spoke about money or not, how they used it and acted about it all make an impact. Your story gets added to over time as you experience a first payday, your first debt, your first accountant and more.
Having a money story isn’t a bad thing. We’ve all got one! I want to make sure you know there is no one size fits all. Whatever your story, knowing it will help you create the story you want in your business and build a profitable business that serves you.
“Whatever your story, knowing it will help you create the story you want in your business”
So what is your money story?
Money is emotional. We’re lying if we say it isn’t.
How do you feel when your bank account is running low? When you see the debt in your Afterpay account? What about when you make a big purchase just for you? Guilt, fear and shame are common reactions when we don’t have money (or feel we don’t), where excitement and relief are often what we feel when it’s payday.
Our money story affects these emotions and reactions. It tells us what money means to us and impacts how much we think we ‘need’. It changes how we feel about debt, what we think we should spend our money on and more. It also plays a big role in how we handle our money.
Common stories we tell ourselves about money are that ‘I’m bad with money’, ‘I won’t ever be wealthy’ or ‘I can’t save my money’. So how do you unpack and understand what your story is?
Your family and upbringing
What is your earliest memory of ‘money’ or the idea that things cost something?
How were finances handled in your family?
What were the financial expectations of you? Were they the same for your siblings?
Your thoughts on money
Do you think money is good or bad? Is it to be spent or saved?
What do you think about taking out a loan or using a credit card?
How do you feel about debt?
Your business and money
Does the amount of money you earn impact your success in business?
How do you feel about setting financial goals in your business?
How do you feel about looking at your business bank accounts/your accounting software?
Your experiences with money
What positive experience/s have you had with money? (Charging something you feel you’re worth, receiving a grant your applied for, etc.)
What negative experience/s have you had with money? (When someone told you you were bad with it, a client said you ‘charge too much’, etc.)
How did this negative experience make you feel? How did it impact your confidence?
If you were an outsider describing you/your business/your experience with money, what would you say?
How do you want to feel about money?