Family finance is a very broad topic. In this review of family finance, I would like to discuss how a family can affect financial growth. Did you have financial problems in your family growing up? How did that affect your mindset and ability to make money? What was your experience with money as a child? Do you know that it can still be affecting your life now? Things that we learn at a young age can have a profound impact on our lives. Did you ever hear the words, “money doesn’t grow on trees” or money is the root of all evil”?
What was it like living in your household as a child with regards to finances? How were finances discussed? Was it taboo at the dinner table? I remember experiencing many family struggles over there not “ever being enough money”. Did you know that you can break out of this mindset and you can no allow past experiences to dictate your future?
Family Finance Management
According to the American Psychological Association (APA), money is consistently among the top sources of stress within a family. My family had a positive and negative relationship with money. When we had it, things were positive, when we didn’t things were negative and life was challenging. There were times that were plenty and there were times when dinner was small. I remember having to leave a home because we couldn’t make the mortgage payments.
Multiple times creditors would call because a family member listed me as a reference and that person had not paid their bill. Which meant the creditor was trying to track that person down. Many times family members would pray to God requesting money to just appear, which seems frivolous now since this up and down cycle was so common that praying didn’t matter since we already knew the answer was either no or no answer.
Family Finance Issues
Starting a business did not work for members of my family. Nevertheless, they tried for years and it just didn’t seem to happen. At the time I always thought they had the mindset of the entrepreneur until I realized really years later what was wrong. However, a book by T. Harv Ecker, ‘Secrets of the Millionaire Mind‘ helped me to understand what it really meant to be an entrepreneur. Also a book by Robert Kiyosaki, ‘Why the Rich Are Getting Richer’. Both books challenged my understanding of what we typically think of an entrepreneurial mindset.
For this reason, I discuss how mindset is so important to really be successful in an endeavor. It’s easy to read a program or watch a video and get “sold” on a new program or plan, but without the correct mindset associated with success it is very challenging to really be financially free. That is what we are all focused on, correct? Financial Freedom? I have an excellent blog discussing specifically what financial freedom can be and how we can attain it “here”. Financial Freedom can mean different things to everyone.
For me, freedom is being close to water and able to travel anytime I want and provide a wonderful life for my family along with being able to give to local and national non-profit organizations. Personally, I love working with Habitat for humanity.
Family Financial Guide
Do not allow yourself to be controlled by you past experiences. In the investment world, we often hear that, “Past performance does not indicate future performance”. So then, why do we allow our lives to be dictated by our past performance?
I challenge you today to think critically about what your past experiences have taught you and what you went through early in life and how that has shaped your perspective on life. When I was in high school and college, I tried multiple multi level marketing programs and even started my own fitness business. I made a little money on each of those endeavors but lost a lot more in the end.
Does that give an excuse to stop trying and stop learning? It did for about 10 years. All that time lost. But it’s not about what you did, it’s about what you are doing today to be better. Do not live in the past! Things in the past you can either run from or learn from. You cannot measure yourself by “what ifs” you can only measure yourself by “what now”. What now indicates that now you are going to do something. You have the power to change your destiny, therefore what are you going to do? Read my blog on “Why Do We Need Motivation?” It offers a great process to get started.
Conclusion
There may be different views on how to approach family finance. Many families don’t discuss it until it’s too late and you have financial issues. My simple point in this article is to not allow past experiences to dictate how your future will become. You do not have to handle finances or wealth like your family or someone else’s family. You can create your own path. Break out of past ideologies. Become motivated to achieve the success that was never thought possible in your family.
I have tried many programs in my past and hadn’t succeeded at any of them and it was because I was constrained by my mindset and past experiences. I have discovered an excellent program that can take you from zero to financial freedom and I would like to share it with you.
Watch this short video and get started on living your amazing life in Financial Freedom. Learn how to break the bonds of past family financial issues.
Thanks for stopping by. Cheers to your success and see you at the top!
-Cameron
