Your Money Story

Money stories are our beginnings in our relationship with money.  My first experiences with money were dime store purchases with a couple of dollars from my grandparents.  My most impactful money story is earning an allowance. Allowances are sometimes provided by way of a parent feeling responsible to provide income for activities. Others view allowances as a way for children to learn to budget. Some don’t pay allowances but pay for good grades or household chores. Mine was earned weekly for a list of chores to complete. It was just enough to pay for entry and skate rental on Friday nights. My friends shared soda and snacks. Which may explain why I was ready to work as soon as I could! 

Our money stories shape our early feelings about money which influences behavior. As youngsters it is common to adopt our parents’ values but as we mature emotionally, we develop our own set of values. We evolve and build experiences adding chapters to our money stories. As we build our knowledge and skillset in managing our personal finances our financial identity emerges. Recognizing the components of our financial identity creates awareness in our financial behavior.

Like all relationships, your relationship with money requires attention to nurture contentment with your finances. Understanding the components of your financial identity is the first step.