Each week across the ACM network Ali and Gaby Rosenberg offer quick tips for big wins in understanding your money. The sisters are co-founders of the Blossom micro-investing app.
Do you and money get along? If you're always trying to get your hands on more money or always losing the money you do have, then there's a high chance that your money issues are a little deeper than just your spending habits. We're talking about things you can't work out with a spreadsheet.
Your relationship with money may seem less complicated, or less important, than your relationships with people, but it's actually multi-layered, heavily influenced by your family and deeply linked to your sense of purpose and identity. So, kind of a big deal. It trips up the best of us. And money issues often end up affecting your personal relationships anyway.
How you earn, spend and manage money is mostly influenced by what you learned about money as a child (Unbelievably, your values around money are set by the age of 7!). Your reaction to this experience is what forms your attitudes today.
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So, let's say as a child your parents saved every penny for a rainy day, which meant you missed out on toys, clothes and experiences compared to other kids. You might decide as an adult (earning your own money) to spend every cent on the things you feel you missed out on. Party time!
To find out if your relationship with money is suppressing your inner millionaire, try the six questions below.
If even reading them makes you want to grab your wallet and run, chances are your relationship needs some work.
If you answered yes to any of these questions, the good news is there are healthier ways for you and money to co-exist.
Books like The Barefoot Investor by Scott Pape and Money School by Lacey Filipich can help you find a new rhythm. There are loads of good (free) podcasts and social accounts to follow - just do your research.
You can also check out moneysmart.gov.au, a free online resource to learn everything from how to manage on a low income, to feeling confident talking about money to free financial counselling.
Here's to a happy future together.
Do you and your money get along? Six questions to test your relationship
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05.01.2024
Each week across the ACM network Ali and Gaby Rosenberg offer quick tips for big wins in understanding your money. The sisters are co-founders of the Blossom micro-investing app.
Do you and money get along? If you're always trying to get your hands on more money or always losing the money you do have, then there's a high chance that your money issues are a little deeper than just your spending habits. We're talking about things you can't work out with a spreadsheet.
Your relationship with money may seem less complicated, or less........
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