What's Your Money Story?

What's Your Money Story? What does your money story say about your relationship with money? According to David Krueger, M.D., "a money story is not someone’s income, expenses, assets, debt, or net worth."  It's a part of your total autobiography and one we don't often explore. For example: What is your earliest money memory? I ask that question of my Money Coaching clients. For me, it was taking .50 cents and going to the Red Barn convenience store and buying candy. I don't remember if my mother gave me the money or I took it out of her purse. Denial? Perhaps. What I notice is that too often early money memories are disempowering rather than empowering and these memories affect our current relationship with money.

Our money stories lie beneath the surface of our conscious mind. Dr. Krueger says these stories are the unconscious tales we tell our ourselves, what we say to ourselves about money, and what money says to the world about us. In this money drama we create out of our experiences, beliefs, assumptions and convictions we tell ourselves and the world how much we deserve from money, how much we think we're worth and what we believe we're capable of.

Do you know what your own money story is? Begin by writing your money biography starting with the earliest money memory and coming forward to today year by year. Look for patterns that stand out, mistaken thinking, generational misunderstandings about money. Look at the secrets. Pay attention to your feelings.

In my family, my grandfather was the #1 Top salesman of the largest insurance company in 1929. Then, the Crash. He lost everything, had a nervous breakdown and spent the remainder of his life hospitalized. I never knew about this until a few years ago. But, do you think this created a generational blip on my family's money screen? Yes.

Once you've completed your money bio, journal about your discoveries. Appreciate the positive beliefs, successes and accomplishments of yourself and your family. And, begin the process of forgiveness where appropriate and start re-writing your money story. More on how to do that tomorrow.