The Stories We Tell Ourselves About Money Aren’t Always True

Jul 09, 2020

This question of whether the stories we tell ourselves about money are true or false is a tricky one. It all depends on what stories are in your narrative.

We dance studio owners — like every other business owner, and every other person on the planet for that matter — are first shaped by our parents’ relationship with money. Or whoever raised us, if not our parents.

Are your first memories of money filled with scarcity or abundance? Was your family constantly worried about making ends meet, or was there plenty of money to go around?

Whichever background you come from, your early history with money is still there inside your brain. And it may be influencing you still today.

Your current adult relationship with money is layered over your childhood experience.

Is it the same as your parents’? Is it better? Is it worse?

Is it true?

Our Money Stories Influence Our Business Decisions 

It’s important to get to the truth about the stories we tell ourselves about money because our relationship with money influences nearly every business decision we make.

I had a studio owner recently tell me she felt guilty about investing $2,000 into the technology she needed to offer virtual classes when the COVID-19 pandemic prohibited in-person classes.

She felt guilty over spending money — investing in a business necessity — when money wasn’t coming in. Money wasn’t coming in because she had decided not to collect the monthly fees that were due because in her mind the virtual classes wouldn’t hold the same value as in-person.

None of her families had actually told her this. She assumed the worst out of her own feelings around money.

It was all a vicious circle … a hamster wheel of guilt … and it was all borne of the stories she told herself about money.

You Control Your Own Money Story

If you were raised hearing things like, “we don’t even have enough money for a pack of gum,” then that’s what you will emotionally revert back to in times of financial stress or crisis.

Even though it may not be your current reality.

If your money story is all about scarcity and lack, then that is what you’re sending out into the world.

If your money story is full of abundance, you’re sending that out.

So give yourself a reality check, and make sure you like the money story you’re telling yourself. Make sure it’s based on fact, not fiction. On present reality, not past circumstances.

Make sure it’s true.

Your ONE THING

Your ONE THING for this week is to journal about what you were taught about money and how you feel about it now. I want you to dive deep and uncover what your money story really is.

If you uncover anything that you consider negative, please withhold judgment. This exercise isn’t about assigning blame.

This is simply an exercise in discovery.

If there’s anything negative, you can now heal it. If there’s positive, you can honor it.

There likely will be some of both.

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