Turn your current identity upside down to find your ideal one
Last week, we discussed how you grew up around money. This week, we’re going to talk about your financial identity, which is how you see yourself around money. Your Financial Identity is based on your beliefs, skills, behaviors, and environment. When you know how your internal landscape around money operates, you will be able to engage with your finances in a healthy way and make improvements.
The triangle is made up of five elements that either create or support your identity. To find your current identity, start with environment and work your way up.
ENVIRONMENT What’s the snapshot of my financial situation right now? How much savings or debt do I have? How much is in our account? Do we have any assets? Something put away for retirement? How much do I work? How much help do I have around the house? What am I and my kids able (or unable) to do?
ACTIONS What behaviors (positive or negative) got me to this environment? If you have savings, the action might be setting an automated transfer every week or working with a financial planner. If you have debt, the action might be that you obsess about or ignore the numbers.
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