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Childhood Ghosts Impact Your Financial Choices

Michael Haubrich, CFP, discusses the impact of money scripts in a guest column published in the Racine County, Wisconsin, newspaper The Journal Times. He writes:

“A friend shared the story of finding her mother in tears one day while paying the family’s monthly bills. Upon asking her mother what was causing her distress, the mother replied ‘there’s never enough money.’

This early experience rooted a belief in that child that no matter what, under any circumstance, there would never be enough money and without it, misery and sorrow would follow. Today, she is a successful business woman, who also happens to be a workaholic who rarely takes time to enjoy the abundant fruit of her labors. She is anchored in a fear of running out of money and therefore is missing out on the opportunities having money affords her.”

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