What Your Values Have to Do with Saving Money

Are the money lessons you learned as a child keeping you from building wealth and achieving financial independence? The fact is what you learned about money and investing as a child can have a significant impact on your decision making as an adult.

Your day to day decisions about money are more important than you might think. I personally think the financial decisions people make based on their childhood lessons about money can have a tremendous impact on their financial future. Think about it. Every day, you are faced with having to make a decision about spending or saving money.

Every decision, no matter how large or small will have an effect on your cash flow and net worth. Did you go out to dinner recently? How did you pay? Did you pay cash or use your credit card? Does anyone really need to finance dinner with interest at rates of 18% or higher?

Did you ever receive a large lump sum of money from an inheritance or whatever? If so, what did you do with the money? Did you invest it, give it away, or put it in the bank? Do you have several hundred thousand dollars in a bank savings account or certificate of deposit that’s barely earning 1% in interest? If so, WHY?

The fact is, we all learn about money to some degree from our parents and in the communities where we were raised. Some people use these lessons to make important financial decisions about saving money, spending money, saving for retirement, investing, and borrowing.

Do you make decisions to save, borrow, and invest based on what you learned as a child? If so, are these money lessons keeping you from building wealth and achieving financial independence?