What is your Money Story?

Posted Dec 07, 2021

Storytelling is central to our existence. The human brain searches for patterns in information and once detected, forms a story around them. These stories are how we make sense of our experiences and how we share them with others.

Our money story is the narrative we create around the beliefs, patterns, and actions throughout our history engaging with money. Every one of us is living out a money story influenced by a number of messages about money that came from parents or grandparents, cultural backgrounds and societal beliefs, marketing and advertisements, and so many others.

For example, a common money story is "money is hard to come by." If you heard this around your house growing up and subconsciously believe it to be true, you are not alone. Unfortunately, this story reinforces the idea that money is a constant problem or that stability is out-of-reach rather than a tool that can work for you. Alternatively, a money story where you believe you are supported by money helps you make more confident financial decisions and to know when to reach out to finance professionals for advice.

Discovering your money story allows you to identify the beliefs or habits that are no longer or were never yours. Here are a few questions that may shed light on your money story:

* Complete this sentence: Money is...(ex: scarce, stressful, complicated, freeing, a tool)

* What role did your mother/father/guardian play in the family finances? What language did they use around money?

* Do you share your guardians' approaches to money or do you act differently?

We grow when we become aware of patterns that no longer help us achieve our goals. When you are in control of your money story, you are in control of creating your future. Let’s begin shedding the parts of your story that no longer support you and rewrite one that advances you towards achieving your financial goals.

Visit your local Nutmeg State Financial Credit Union branch and speak with one of our representatives today.

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