All the decisions you have made, and will make, come down to your relationship with money. More often than not your relationship with money stems from your parents (or the people you spent the most time with in your younger years) relationship with money.
For some of us we were told to put the money in the bank. To save. To keep saving. Not really knowing what you were saving for. Maybe a car, maybe a house, when you set up house… but at the time that felt like a lifetime away. If you saved, you saw your bank balance ever so slowly growing, and then spent it on your first big big purchase, which was most likely a car.
For some of us, having grown up in the age of credit cards, personal loans, easy credit, it felt like we were living in a world where we received ‘money for nothing and cheques for free’. Until we head into our late twenties. Life changes. Move out of the family home. Start thinking about owning your own home and whether it’s possible or not. Think about getting married and supporting a family…. All while maintaining the lifestyle you have been so accustomed to living.
For some of us we have grown up in rental housing, and so the thought of owning a property may be so out of the mind sphere, because no one in your family had ever owned property before.
The key point here is, if you understand your relationship with money, you can be more discerning with your future investment strategies, knowing that your emotional response is driven by learnt behaviours from your childhood.
One thing that will most certainly improve your relationship with money is to start talking about it more. Discuss it with friends and family. Ask them about their relationship with money. The more that you observe how yours and others relationship with money can keep you stuck, the greater the opportunity you will have in becoming unstuck.
If you would like to talk about your relationship with money and how this could be influencing your investment planning and decisions, or anything and everything property, let’s connect.
Or check out my First Time Property Investing Program.