Research from the Australian Psychology Society has found that personal financial issues have been consistently voted by Australians as the top stressor in our lives.
Sadly, like so many other issues in life that cause us stress, we are not great at having conversations about money. This is not surprising when many would rather bury their heads in the sand than have an honest look at their finances, let alone have a conversation with someone about them. On top of this most of us were taught from an early age that talking about money, especially outside the home, is taboo. Don’t ask people what they earn. Don’t ask people what something cost or whether it is expensive. Don’t ask someone if they are rich.
So, what is the first step to having healthy, open communication when it comes to our finances?
We all look at life through glasses tinted by our personal perspective, understanding this perspective and understanding that of our partners, will assist us in having healthy communication.
Brad and Ted Klontz, financial psychologists, have coined the term “Money Scripts”, to describe our core beliefs about money that drive our financial behaviours. These beliefs are typically unconscious, trans-generational beliefs about money, that we developed in our childhood and drive our adult financial behaviours.
Once we identify these beliefs, if necessary, we can change or challenge them.
Or have a go at our simplified version of the Klontz Money Script Inventory or Value Led Money Plan.