Understanding Your Money Story, and Why It Matters

We all have a “money story.” It is the set of beliefs, habits, and emotions we carry about money, often shaped long before we ever earned our first paycheck. We all have a “money story.” It is the set of beliefs, habits, and emotions we carry about money, often shaped long before we ever earned our first paycheck.

Think back to your childhood. Did your family talk openly about money, or was it a stressful subject? Did you see money as something scarce that had to be tightly managed, or something to be enjoyed and spent? These early experiences often create patterns that still influence how we handle money as adults.

Why your money story matters
Your money story shapes the way you make decisions. It can affect:

• – How comfortable you feel taking on debt
  – Whether you tend to save diligently or spend freely
  – How much financial security you need before you feel safe
  – Your confidence (or hesitation) when it comes to investing

Sometimes our money story helps us, but other times it can hold us back. For example, a strong saver might struggle to ever spend and enjoy their money, while someone who grew up in a household where money was always spent quickly may find saving difficult.

Awareness creates choice
The good news is, once you recognise your money story, you can choose whether it still serves you. Understanding where your habits come from is the first step to creating healthier patterns that align with the life you want today, not the circumstances you grew up in.

How advice can help
Part of our role as advisers is to help you step back and see the bigger picture. By recognising your money story, we can design strategies that not only make sense financially, but also feel right for you. That is how money becomes a tool to support your goals and values, rather than a source of stress.

Your money story is unique to you. By understanding it, you can write the next chapter with more confidence and control.