When you think about how you want to handle your money you have three choices…
Choice #1 – You can do what your parents did.
If your mom handled the family finances, you can just do what she did.
If she saved for a rainy day, you can do the same. If she was a compulsive shopper, you can do the same. If she was an investor, you can do the same.
If your dad handled the family finances, you can do what he did. If he was a miser, you can scrimp and save. If he was irresponsible with money, you can do the same.
Choice #2 – You can rebel against however your parents handled money.
If your mom was frugal you might be a spender. If your mom made sure to get the best price on something, you might not care at all about getting a good deal and buy whatever you want regardless of the price tag.
If your mom waited until a dress she wanted went on sale, you might buy a dress and never think of waiting until it goes on sale.
If your dad counted every penny or tracked all his spending, you would spend whatever you had and not even know where it went. You might start with $100 in your wallet, and in a few days when your wallet was empty, you might wonder where the money went.
Choice #3 – This is where so many people don’t realize they even have a choice. I see it over and over again when I counsel people. They do what their parents did, either follow mom or dad. Or they rebel against what their parents did because they didn’t like it.
In Choice #3 you freely choose how you want to handle your money based on your goals and the way you want to live your life. You choose, not as a reaction to what you saw, but based on examining what you saw and what will work for you.
The next time you have a financial decision, ask yourself if you are just doing what your parents did, if you are rebelling against what they did, or you are freely choosing. Then choose.
To Your Prosperity,