Tina Moore

Creator / Founder / Author, the40by40

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When you were a child, were you told negative beliefs about money? How did you overcome that belief system?

I find this an interesting question. I think people have beliefs around money and that belief system can dictate your financial situation. If you were told that having money makes you spoiled then perhaps you put a mental / emotional block on making money as an adult ...if you were told money doesn't grow on trees then perhaps you have anxiety around money and obsess about financial security.

I am looking for answers stating what your beliefs are around money...how that ties into your belief in yourSELF and what you did to overcome any negative or limiting views around money, financial success/loss/security.

Thank you for your honesty. All your answers are appreciated with the greatest of respect.

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    Feb 28 2012: Not aware of any negative beliefs about money in sense you describe while growing up.
    No aversion to money. No unhealthy lust for material wealth. Just a mix of reasonable ambition to do well with ignorance about money. Parents only started to get wise about money - paying off debt, saving, investments etc in my teens.
    Then 1987 happened. Also struggled when we brought a business. Result, I'm rather risk adverse. Wife wanted to set up a business. I'm not so keen.

    Still I was lucky to leverage that getting smart period and build on it.
    I studied Investment Analysis, Economics as part of my masters and have read a lot personally.
    I've invested for long term and deliberately speculated - made great returns and lost money.
    I have about 20 money rules - problem is breaking them - discipline. Seriously useful if your partner shares money smarts.

    Anyway, I still have debates with family about money. Good we talk about it.
    They have rather simplistic views - in my view. They go spastic if I say paying more tax is good - if it reflects you are earning more. You just need to evaluate the various scenarios of what you do with your money.
    Still its great if you can get to talking about money

    Thinking about it. Planning, checking, learning.
    Money is in my goals alongside health, happiness, relationships
    Overlaps career. Get an education so you can escape low paid jobs etc etc
    Your earning capacity is one side of the wealth equation.

    If I could sum it up - educate yourself on the subject, understand the options for your current situation and goals.
    Plan, Budget, Experiment
    Don't put big money into things you don't have a good understanding off.
    Appreciate risk versus reward - lower the risk as you get older
    The power of diversification - lowers risk - not all eggs in one basket
    Adjust your plan as you pass through life's stages.
    Pay off all credit card debt before the interest free period is up.
    Pay off your home mortgage
    Spend less than you earn
    Enjoy reaching your goals
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      Feb 28 2012: Thank you GM...these are great tips...simple yet effective...

      I love your statement "Money is in my goals alongside health, happiness and relationships"

      I think that is healthy...wise...and smart.

      Thank you for your response! I think it will help others as well... :)
      With a smile,
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      Feb 28 2012: Hi Griffin...thank you for your response!

      A dollar a day saved...10 years...hmmm...I'll keep you posted as to whether that is true :)

      I believe money offers security in the sense of feeling safe knowing that you won't be thrown out of your home because you can't afford it, or you can feed / clothe your children as needed but I also know some very unhappy people who have a lot of money...

      So, money perhaps enhances life but doesn't give you the core elements that enrich your life...I'd rather have a 100 people by my side when I am about to leave this earth than a 100 dollars :)

      Hope you have a wonderful day!
      With a smile,
  • Feb 25 2012: Negative belief - money is real.

    Negative belief - money is important.

    Overcome these beliefs through understanding that money is a fiction created to speed and simplify the process of exchange of value.

    Determine what value means to you as an individual.
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      Feb 27 2012: Interesting answer Chuck...thank you...with respect, can you define what value means to you?
      • Feb 28 2012: Learning.

        Our perception of value in individual and continually changing over time. It's not the same for all since diversity in cognitive characteristics is of great "value."

        To me, value is an emotional response that is the product or outcome of an activity that provides an intrinsic reward to the individual voluntarily participating in that activity. It is not material reward.

        By example, the value a teacher derives from participating in the learning growth of a student, a parent observing the emotional growth of their child, team members learning from their mistakes and successes, someone learning the real utility of money as a transactional lubricant.

        The ultimate 'value" is the never ending ability to continually learn and become wise enough to act with knowledge while doubting what you know.

        Hope that makes sense.
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          Feb 28 2012: Thank you Chuck...yes, I agree there is tremendous value in growth, lessons, change, response, loving, inspiring, working for and achieving goals...watching others discover they are stronger and smarter than they imagined...it is a beautiful gift for all involved...

          Thank you, hope today treats you with kind hands!
          With a smile,
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    Feb 25 2012: I didn't. Money cannot be loved To love money, not money itself, causes all manner of negativity. QUOTE: "The love of money is the root of all evil:. . . " (The Holy Bible, First Timothy 6:10 KJV). Thanks for your relevant question, Ms. Moore.
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      Feb 27 2012: Thanks Edward...I agree it's the emotion attached to the 'thing'...in this case money that can be toxic...but as Vineet mentioned, money is essential...so I will ask you the same question...why do you think it comes easily to some and not to others?
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        Feb 28 2012: People's lives manifest what they prize. Other than heirs and heiresses people who have money are people who prize money and worked diligently in pursuit of it. Those who are not wealthy prize other things than money. We accumulate what we value. Of course this applies on local economies only. The stone age tribal member who has three monkey skulls while some have none worked hard to get them while others were doing something else. Bill Gates has more than everyone else because he valued discovery, invention, problem-solving, etc. while poor people like me valued fishing and television.
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          Feb 28 2012: Thank you for expanding on your answer Edward...I appreciate it...

          I value fishing too! There is patience and skill required...there is accomplishment and sense of peacefulness while you are out there...there is an appreciation and respect for nature...

          I suppose it comes down to priorities...and a way of life...some thrive on the buzz of the stockmarket while others enjoy the peace of the ocean...neither is right or wrong but rather an individual choice...

          Hope you are enjoying your day!
          With a smile,
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    Feb 25 2012: I am told money is not life, but money is essential for life.
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      Feb 27 2012: Thank you for your reply...money is not life...I have friends who have lost loved ones recently and all they would like in life is one more conversation, hug or laugh from those they love...so, yes, this is very true...money is essential to life...yes...why do you think it comes easily to some and not to others?