Previously, I introduced the five-step Money Makeover series to help your family build wealth in alignment with values.  If you missed it, please see Part 1 before you read any further.

As a reminder, here’s our acronym for the Money Makeover journey:

Mindset

Origin

Needs

Experiences

Yes!

Today, let’s move on to the second topic:

 

Origin

Are you or one of your kids a fan of superheroes?  My youngest son loves Spiderman the most.  Every superhero has an origin story, sharing how they gained their powers and decided to fight crime.

I know this may sound silly, but please imagine yourself as a superhero for a moment. 

Close your eyes. 

Put your metaphorical cape and eye mask on. 

Alright.  Open your eyes. 

However, keep that mental image of you as a superhero fresh in your mind. 

Although we are not fighting crime, there is a reason you are here.  There is something happening in your financial life now, and you feel a change is necessary. 

Maybe your burden is credit card or student loan debt.  Maybe you make good money but never seem to have anything left over for savings at the end of the month.  Or perhaps you want to be a better steward of the gifts God provides.

Whatever your particular challenge today, please know that you are not alone.  Each of us has a money story that influences our decisions today.

An origin story has two parts: 1) the history of the person leading up to the transformation, and 2) the decision to forge a new future.  I want today to be the day where you make the decision to forge a new future.  Are you up for it?

What Beliefs are You Holding Onto?

For now, let’s focus on the first part of the origin story: HISTORY.  Even as children, we are shaped by the money stories and values passed down to us. 

I’ll never forget the time traveling to Tijuana Mexico with my family.  As a fourth grader, I was excited to see San Diego and a different country!  My older sister really wanted a poncho, and my dad was trying to bargain with the store attendant.  Keep in mind that there was one shop after another, largely selling the same exact items.  My dad wanted the best price possible for the poncho.  He purposefully waited until the last possible minute – when we were about to cross the border back into the US -- so he could show he was leaving and not coming back if the fair price wasn’t met.  As my dad and the female store attendant were talking back and forth, she loudly proclaimed

“Your papa too cheap.  Get a new papa.”   

The funniest part of this story?  Rather than being embarrassed by my dad, I admired him and wanted to be a master negotiator just like him. 

I honestly don’t remember if my dad purchased the poncho from that storefront or one further down the street.  It doesn’t matter.  What matters is the sense of frugality that my dad fostered in me at a young age. 

Forge a New Future

So, what’s your money story?  Here’s a short homework assignment: share one story from childhood about money that shapes who you are as an adult.  Tell it to your spouse (if you’re married) or to a close friend or family member.

If the story is positive, that’s great!  But if the story is negative (and I suspect it may be), acknowledge that the past isn’t a script for your future. 

Recognize that limiting beliefs about money are part of your history, and ONLY your history.  Your outlook and vision for the days and months ahead can be shaped differently. 

After you have shared at least one money story with a loved one, take another 5 to 10 minutes today to assess the gap between where you are now and where you want to be financially.  Jot down notes, pictures, or anything else that will help you identify the gap.  This gap is important when we delve into the next topic, needs versus wants.

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