If you’ve read my last blog about Owning your money story, you will know that being accountable is to understand that it is not something that “happens” to you, but something you can control. As the owner of your money story, you are no longer a victim of your money circumstances, you are in charge!
You can now start writing the plot for your new life story. This is the fun part! We begin to realise that we have a way of changing our lives and start looking at life with a renewed sense of optimism.
Remember, with every assumption you have about money, you make choices, and your choices are based on your money story. Let’s look at your money story and decide what works for you and what no longer serves you.
Have your notes on your current money story handy. These are the beliefs and behaviours that navigate your life around money presently. Now look at them critically and ask yourself: What behaviours and beliefs should you change to help you write a more successful money story? Which money beliefs and behaviours do you want to discard? What do you want to keep? What do you want to avoid?
David Krueger, CEO of MentorPath® suggests a very valuable exercise that really challenges your beliefs around money.
Write down five things that you value above all else in life. Now ask yourself, which of these things below would you trade for money?
- Trading time for money
- Trading freedom for money
- Trading health for money
- Trading family for money
- Trading happiness for money
- Trading wealth for money
This exercise helps us to understand how money fits into our value system, and what we are prepared to compromise for money. It poses the question: What in your life are you compromising for money right now?
Now let’s start looking at the role of money in your life. The goal here is to see money as a tool, as an enabler, a currency that should enable your life. Money has no other meaning; it simply is just that – money.
Here are some practical questions to ponder: do you spend money to feel happy; do you use money to influence, motivate or manipulate; does money control your life; and are your financial goals aligned with your life goals?
You should now have a clear list and understanding on past experiences that shaped your relationship with money, what beliefs around money no longer serves you and what the role of money in your life is.
You are now ready to write your new money story, where money is an enabler and not an obstacle in your life.
To write a new money story you have to purposefully release your old money stories and habits. You can no longer afford to make excuses for poor financial choices, you can no longer afford to attract negative money messages into your life and you can most certainly no longer afford to place blame on external influences in your life for your current state.
Your new money story must contain the winning formula of a best-seller! It must be empowering and positive with a clear plot and storyline. In your story, tell yourself that you CAN succeed, that you are able to resolve any challenges you may face and that you are capable of acquiring the knowledge and skills needed to achieve your goals.