The holiday season is a great time to begin thinking about what you'd like to change, improve or do more of before we ring in a new year. The starting point of any goal is getting your mind in the right space. This is part of our financial planning process, called the Planning for LIFE Experience™. If you have a few days off from your day-to-day responsibilities, take the extra time to evaluate your objectives and what you want to do differently in the new year.
To help get in the right mental space to make a financial change, we have an exercise to help you discover what you believe about money. It will help you identify your money scripts, the unconscious assumptions and beliefs you hold about money. This is a stream of consciousness exercise and there are no right or wrong answers. Resist the temptation to think too much about your answers, and respond with the first thing that comes to mind. Write as quickly as you can to complete the statement or answer the question.
Complete the following sentences:
Wealthy people got that way by_____________________________________________
Poor people are poor because________________________________________________
Parents owe their children__________________________________________________
Adult children owe their parents_____________________________________________
Successful family members owe their less successful relatives_______________________
Financially, I am entitled to_________________________________________________
Financially, I do not deserve_________________________________________________
In terms of giving, I believe I________________________________________________
One should never spend money for __________________________________________
One should always spend money for__________________________________________
The relationship between God (Energy) and money is_____________________________
The relationship between love and money is____________________________________
The dumbest thing someone can do with money is_______________________________
The smartest thing someone can do with money is _______________________________
What I would want my children to understand about money is_____________________
What I am teaching my children about money is_________________________________
The best way to help my children financially is__________________________________
I could never afford to______________________________________________________
I will always be able to afford to______________________________________________
I should give money to_____________________________________________________
Did any of your answers surprise you? Did you find the exercise helpful in understanding your mental map?