I must have heard “money doesn’t grow on trees” or “I’m not made of money” a thousand times when I was growing up. Looking back now, I can see how hearing these phrases shaped my relationship with money. They planted the idea that money was scarce, something that other people had, but not us. Maybe even that I wasn’t deserving of financial abundance. I definitely felt that it was something we didn’t talk about or celebrate. And I know I’m not alone in feeling this way.
When we’re children we absorb the financial habits, worries and attitudes of the people around us. That’s often our parents or grandparents, sometimes our teachers and close friends. The words spoken to us, the way money was handled and the emotions tied to finances all shape how we think about money as adults. They form our childhood beliefs about money! And some of those beliefs serve us well, but others can hold us back.
How our childhood beliefs about money shapes our mindset
Did anyone in your family sit you down to speak to you about money? I know in my home, there was no such thing as ‘money lessons’. I hear the same from so many people I work with. Money lessons aren’t often consciously taught. In many cases, our childhood beliefs about money are absorbed simply by watching and listening. If money was a source of stress at home, you might have feelings of fear. If we were constantly told, “we can’t afford that,” we might have developed a scarcity mindset, believing that money is always in short supply. On the other hand, if we saw our parents budgeting, saving and celebrating when they hit goals and bought things, we may have picked up more positive habits around money.
Why are childhood beliefs so powerful?
Children are highly impressionable, and the messages we receive when we’re young can feel like universal truths rather than just one way of looking at things. Even casual comments, like the classic “we’re not made of money”, can give you deeply held beliefs that money is difficult to earn and should be spent sparingly. If you heard things like “rich people are greedy” or “money changes people”, you may subconsciously associate wealth with negative traits, making you hesitant to pursue financial success.
Changing your money mindset as an adult
Would you like to hear the good news? You don’t have to be stuck with the beliefs you inherited. Once you recognise how your childhood beliefs about money still affect you, you can take steps to shift your mindset and create a healthier, more abundant financial future.
1. Recognise your money scripts
Take a moment to reflect on your earliest money memories. What phrases do you remember hearing? What attitudes towards money did your family have? Identifying these ingrained beliefs is the first step towards reshaping them.
2. Challenge your old beliefs
Just because you grew up hearing that “money is the root of all evil” doesn’t make it true. Start questioning whether these beliefs serve you today. Replace them with affirmations like “I use money wisely and for good” or “I am open to financial success.”
3. Learn, learn and learn some more!
Sometimes, outdated beliefs stick around simply because we don’t have enough knowledge to challenge them. Reading books on personal finance, following experts on social media or working with a money mindset coach can help you build confidence and make empowered financial decisions.
4. Try to make conscious financial choices
Instead of acting on autopilot, pause before making financial decisions and ask yourself: Is this choice based on my current goals, or is it an old belief kicking in? Being mindful in this way can help you take control of your finances rather than letting subconscious patterns dictate your actions.
5. Seek out some support
Shifting your money mindset isn’t always easy, especially if those beliefs have been ingrained for years. Working with a money and mindset coach can help you identify and reframe unhelpful patterns so you can move towards a healthier, more abundant financial future.
If you’re ready to move past the limiting money beliefs you picked up in childhood and step into financial confidence, I’d love to help you. Together, we can reshape your money mindset and create positive, lasting change. Get in touch to start your journey to financial freedom today!