Money Memories

How to Reshape your Money Attitudes and Habits

It has never been more crucial than now – during the great economic turbulence we face due to the Covid-19
pandemic – to make sure that the money beliefs and behaviours we have are driving money attitudes and financial
habits in our lives that will help us survive financially through these tough times.

Our money memories – our emotionally-charged past experiences with money – are widely recognised for shaping
our money beliefs and behaviours. Fortunately, it is possible to reshape our money beliefs and behaviours, and to
choose new attitudes and habits that will empower us financially, especially during these tough and uncertain
economic times.

Our past experiences with money over the course of our lives, but particularly during our early childhood – as well as
what our parents and caregivers taught us in words or by example – have a powerful influence over our feelings and
attitudes about money – and therefore on our financial habits and behaviours. In fact, there is evidence that
children as young as five already have distinct approaches to, for example, spending and saving money.

Think about your own earliest money memories: were your family members spenders or savers? Was money used to
survive, to help, to treat or to impress? Was there always enough or never enough money? Did anyone teach you
the importance of budgeting or how to save? What is the most important lesson you learned about money? How
did money make you feel?

These questions can provide insight into experiences that have influenced your thinking and feelings about money –
and how these feelings and emotions have affected your attitude towards money and your financial habits.

Re-shaping your Money Attitude and Habits

Your money beliefs and behaviours – while shaped by emotionally-charged past experiences – are fortunately not
cast in stone.

You can re-shape your attitude towards money and implement new financial habits, starting today, choosing both
new beliefs and better behaviours that empower you financially and bring you closer to financial security, especially
in uncertain times.

For example, you could adopt a new money belief that anyone can learn how to better manage their finances. Or,
you could adopt a new behaviour, such as getting professional assistance with your savings plan or debt

In the words of Mother Theresa, “Yesterday is gone. Tomorrow has not yet come. We have only today. Let us begin.”
To begin today is as simple as contacting your financial coach, who is ready with professional assistance to help you
reshape your money beliefs and behaviours and empower you to create financial security, even during the most
uncertain times.