3 Ways To Break Free From Childhood Financial Habits Holding You Back

As a child, did you long for more financial freedom and flexibility than your parents had and vow to make your reality different than theirs one day? Were you determined to do anything it would take not to find yourself wallowing in debt or to ever again face tight end-of-months where every new bill would set off tense arguments about the family budget?

Did it work?

If not, and if you’re bewildered at having wound up in the very same position you swore you’d avoid, you may be unconsciously sabotaging your financial life by repeating your childhood experiences as an adult.

It happens quite often, and happened to me. I had an incredibly luxurious childhood complete with a custom-built lakefront home, equestrian and gymnastics training and family holidays flying in our own private aircraft — until my parents lost all their wealth through a series of bad choices. Then, as an adult, I built up a successful business and real estate portfolio only to find myself plunging to the edge of bankruptcy due to unfortunate investment decisions and market volatility.

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Ultimately, I discovered the reason: the subconscious beliefs about financial matters that had shaped my thinking as a child continued to shape my expectations and behavior later in life. These beliefs were actually working against my conscious goals and sabotaging my best efforts toward financial success.

This dynamic drives many of us to find ourselves trapped in the same financial circumstances we once longed to break free of. Our subconscious beliefs around money have a powerful grip on us, causing us to act in ways that limit us or constrain us to repeat certain patterns we may have never even recognized to begin with.

The good news is that change is possible. It begins with acknowledging those patterns and their causes. Most often, the causes are limiting beliefs passed along to us from family and society at large in the form of “money myths” such as: “Time is money,” “Money is easy come, easy go,” or, “You have to work hard for your money.”

Source: Maria Shriver