So What Is The Bottom Line On My Money?

   So after reading the first two parts of this article, we know that:

•  The way we relate to money today has much to do with the way our parents and mentors related to money.
•  In my life there was a lot of guilt surrounding money due to the struggles in my parent’s lives.

   What I will cover in this 3rd and final segment to this article is how my past influenced my relationship with money.

 Where’s My Money? – Show Me The Money!

  Looking back on my younger years, I realize that I never was able to save much money. It seemed, I would spend it just as fast as I made it. That really didn’t concern me too much because I was happy I didn’t have to ask my dad for money any longer, for the things I needed. It was very freeing for me to be able to have my own money – guilt free.

  Years would pass and I got married and a couple years later my wife and I had a son, and a few years after that a beautiful daughter. The funny thing is, as I grew older my money issues stayed the same. I worked hard, made a decent living and yet never managed to save or invest much. I always made sure my children got whatever they wanted because I was not going to subject them to the guilt that I had to go through. No Way!

 What is My Money Mindset Now?

  Even though my wife and I managed to save and invest as we matured in life, I never felt we were doing as well as we should and that always puzzled me, until I took the assessment on money at the seminar I was at. I realized it wasn’t how I valued money, and more to do with how I valued myself. The feelings of guilt I had at that young age, asking my dad for money, transpired to me feeling unworthy to having money and that is why as I grew older, I would spend money as fast as I made it.

 How Do You Change Your Money Mindset?

  The first step to any change is awareness, followed by conscious and persistent action. It is not easy to change years of bad habits and it takes much discipline. I suggest investing in yourself with reading, financial coaching and always be aware where you are financially by having a set routine and system for your finances.

 So take a close look at where you are financially and ask yourself; “am I making as much as I could?’ “Am I saving and investing as much as I could?” Am I charging my clients and customers what I am really worth?” You might find the answers to be more about you than the economy, job market, stock market and other external circumstances.

Slawek Polinski

Men of Action

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How Do You Value Money?

  This is the first part of 3 articles on the subject of how people value money, their challenges with money and where these perceptions and challenges derived from. This is a lengthy article so I broke it down into three parts for easier reading.

  The topic of money is something everyone can relate to. It does not matter which country you call your home, in order to provide for yourself and your family you need some form of currency. There are some people who believe money is the root of all evil, while others look at money as the foundation for their dreams coming true. My belief is money is neither good nor evil, it’s just money and it is the people and their intention behind the money that determines whether it is for the good or evil.

  I was fortunate to have had the opportunity to attend a seminar recently and one of the topics of discussion was how different people relate to and value money in different ways. We all were given an assessment and the results gave us insights to how we relate to different areas of our life including money.

We All Share Something in Common With Money

  I was very intrigued and surprised when people began sharing the results of their assessment with the group and what the results meant to them. There was a common denominator in everyone’s story, including my own. The one thing that we all shared in this exercise was our money values and challenges were formed at a very early age. It mattered not whether the challenge was:

• Over spending
• Over saving or hording
• Not having clear money goals
• Not keeping track of finances
• Not making enough money
• Fear of losing money….along with many more challenges.

 The one thing that bound us together was the way our parents related to money and their finances had a significant impact on how we now value money today.

  As I continue with this article, I want to make clear this is not going to be one of those “poor me, my mom and dad screwed up my life” articles.  I believe as adults we are responsible for the decisions we make in life and being a parent myself, I also believe the majority of parents do the best they know how. That being said, very few will argue the point that the way parents view life and life’s circumstances will directly influence the views of their children as I know my views have influenced my son and daughter.

 In part 2 of “What Are Your Money Issues,” I will share my personal story and how it affected my relationship with money.

  If you would like more information on the assessment, how you can take it and what it can improve your life please contact me at slawek@menofaction.com.

Slawek Polinski

Men of Action