Impact – Wealth Management


Echoes in Your Earnings: What Personal Stories Do Your Finances Tell?

Whether we realize it or not, our finances are storytellers. They tell the story of who we are, how we live, and how we have lived. It is an interesting phenomenon to think about — the tales our finances tell.

Wait. How Can Finances Tell a Tale?

What are we talking about here? Well, how did you grow up? How did you make money when you were young? How did you grow your wealth? Have you lost wealth? How did that happen?

Every single aspect of the money in our lives tells us a tale about who we are.

Maybe your parents were dirt poor and you worked your way to success with nothing more than grit and determination.

Maybe you were born wealthy and you lost everything because of a lack of financial education. Then, you had to find a way to build it back up.

Perhaps you were gifted money by a loved one and came into wealth all of a sudden.

We all have a story. We even have a story around what we hope to do with our money moving forward.

What’s Your Story?

A great exercise to undertake is to sit down and write your financial story. Act as though you are talking to someone, maybe a trusted financial advisor, and tell your financial story from beginning to end.

You might even have several stories within that one story. Lay it all out, without fear, shame, or pride.

Try to tell the story objectively, as a narrator, rather than as the person who lived the story, so you can be sure not to leave anything out. You are the all-knowing narrator here. You never have to share your story with anyone if you don’t want to.

But write it down.

Why Your Story Matters

Why? Because understanding your own story and all the stories your finances tell about you will help you work with your money better.

When you identify your hangups, your mistakes, your patterns, and your habits clearly, you can decide if you want to change anything, and then you can figure out how.

Money is a powerful tool, and the stories we carry around about money, and in particular our money, are critical to our relationships with money.

If you want to wield that tool in the best way possible for yourself, it is essential you get really familiar with your own story.

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