Your Money Blueprint
Why do some people seem to easily build wealth while others seem destined for a life of struggle with money?
When people come to see a financial adviser, we normally assist our clients by recommending financial strategies and products -I call them tools. However, I want to talk about the toolbox, which is your inner game of money.
Your money blueprint is your pre-set program – or the way you think about money – that was formed primarily in your early childhood. If your subconscious money blueprint is not set for success, nothing you know, learn and invest in will make much of a difference to your financial outcomes.
We are programmed in three primary ways around money – the things we heard, the things we saw, and the events we experienced when we were young.
My parents are educated professionals and made a decent income. But they have very low financial literacy and constantly struggled on the earning-and-spending treadmill in their working life. I clearly remember my mum used to complain that we didn’t have enough money all the time. I too struggled with money before I became a financial adviser because my subconscious mind believed that money was hard to get.
If you have this belief too, you will encounter problems when acquiring wealth, and your financial success will be limited as you have a poor mindset.
How to change your money blueprint.
If you want to build wealth and bring abundance into your life, you need to change your negative programming. Here are a few tips for creating a wealthy money blueprint:
• Understand your main money blueprint and disassociate yourself from a negative one by constantly affirming a positive statement. Your subconscious accepts your dominant thought and what you believe to be true. You cannot be a millionaire by simply saying, ‘I am wealthy, I am wealthy’ when you are broke. Hence, using affirmations that you truly believe will help you grow your wealth, and it needs daily practice.
• Create a vision board and set financial goals. Cut out and paste pictures there of your ideal house, car, holiday destination, and your ideal balance in your investment portfolio, and keep this vision board where you can see it in the morning and at night before going to bed. It constantly reminds you of what you want in your life.
• Work with a financial adviser. A trusted adviser will help you identify your goals and dreams, turn them into numbers, and provide you with a system that will enable you to work towards your aspirations. You will form better money management habits during the process, as part of a financial adviser’s role is to keep you on track and accountable. Once your habits change, your money blueprint will be improved.
• However, most importantly, taking action is key to shifting your money blueprint. Educate yourself and increase your financial literacy by reading books, attending seminars or workshops. Executing what you learned is key to your financial success. Start to implement new habits that align with your desired money blueprint. That may include creating a budget, automating savings, paying off bad debts, or starting to invest early to benefit from compound interest.
Most of us are not consciously aware of our behaviours and feelings about money. Like many other parts of our lives, we think that it is just the way we are. The ones who re-script their self-limiting money blueprint and develop a healthier relationship with money can grow their wealth much faster.