Money Messages and You

Let’s talk money. Not numbers, but feelings. Usually money is seen in black-and-white terms: We either have enough of it or we don’t. Money is also hugely emotional. We each bring our own meanings, emotions, and experiences to it with just about every decision we make. Money messages influence our day-to-day decisions and results around money.

There are family money messages: Dad paid cash for everything. We never talked about money. Mom paid the bills. We never went on vacations. Mom never bought anything for herself …the kids came first, etc.

There are also common verbal money messages: Never lend money to a friend. Never talk to other people about how much you make, or your personal finances. Pay your debts! Count your change! Never buy on credit. Cash is King.

There are non-verbal messages we pick up on along the way. My parents earn it, manage it, and we all get an allowance. Spouses earn and should manage their own income. Don’t ask how much Dad makes. Mom manages the money because she’s better at it.

Helpful tips to manage money messages:

— Recognize that everyone brings their own money messages to a relationship … spouse, relative, roommate or friend.

— Know your partners’ family financial messages.

— Financial management messages can be changed.

— Determine what your patterns are and how they can be changed.

— Set financial goals together as a family.

Whether you have the same or similar money messages and beliefs as others is irrelevant. We each have a different way of viewing finance, and we all handle money in different ways. However, it is important to understand that sometimes these difference affect behavior and influence how a person saves, spends, or shares their money.

For more on Money Messages and the Family click here!