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Conversation 1: What's Your Story? Why Are You Here?

Writer's picture: Cloreece Knight, CPACloreece Knight, CPA


Hey!

So we all know that things that happened to us in the "past" have a major affect on how we view the world. 

If you have been hurt in a relationship, it makes you more questionable when forming relationships or trusting others.. Right?

But who knew that past experiences also influence our relationship with MONEY!

So… What’s my story?

So anyone who knows me, knows I am a bit on the frugal side. Of course that's not a bad thing, but I used to be extremely frugal and afraid to spend. I just wanted to save, save, and save... and never spend a dime. So, some may think this is great! Who doesn't want more money? The issue with this is that it caused me to have spending paralysis. I was afraid to treat myself, afraid to spend on vacations, afraid to invest, just afraid that I would loose my money. The only thing I would spend on were my kids.

As time went on, I loosened up a little and started safely investing in real estate, but now looking back, even with these investments, I could have been a bit more aggressive.

Over years I realized that I was so frugal because of how I grew up. I always remembered not having much. The answer to not being able to get the same things other kids/teens has was “because we didn’t have the money”. I promised myself that when I grew up, I would ALWAYS have money. My kids would be able to have things and do things I couldn’t do. I would NEVER be broke. This thinking led me to my paralysis. I was so scared to be broke that I never wanted to spend anything. 

Looking back, I missed making memories, investing opportunities, and small things that could have improved my life.

I had to acknowledge that the reason I was so pressed about money was because I was carrying baggage from my past. I never wanted to become my parents, so I went to the extreme to not be like them. Once I acknowledged this issue and made a plan to overcome it, I have a much healthier relationship with money.

Let’s talk…

Looking back now, how do you think your parents deal with money?

What were the positives and negatives about money in your life growing up? 

What’s the one money memory you have from growing up that’s stuck with you to this day?  Do you think it affects the way you deal with money today?

What about money makes you anxious or stressed?


Most Important:

What are your key money roadblocks you face and what actions can you take to overcome your roadblocks?



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