What’s Your Money Story?

29 May

A money story is the internal narrative or set of beliefs you hold about money—how you think about it, feel about it, and behave in relation to it. These stories shape your financial habits, decisions, and outcomes, often without conscious awareness. Client’s money stories often arise in sessions as they play a big part in how we view the world, our sense of achievement, failure, contentment and much more.

What Is a Money Story?

Your money story is essentially the emotional and psychological script you’ve developed around money, based on your:

Early experiences
Family beliefs
Cultural or religious values
Life events (e.g., financial hardship or windfalls)
Personal identity (e.g., gender, race, or socioeconomic background)

These stories can empower or limit you, depending on how they frame your sense of worth, safety, and opportunity.

Types of Money Stories

Here are some common types of money stories:

1. Scarcity Story

“There’s never enough money.”
Often rooted in childhood experiences of lack or instability, this story can lead to hoarding, oversaving, or chronic anxiety about spending—even when financial stability is present.

2. Abundance Story

“Money flows easily and endlessly.”
While more positive, this can also create blind spots if it leads to overconfidence, overspending, or ignoring risks and budgeting.

3. Money is Evil/Dirty

“Rich people are greedy.”
This story often comes from moral or cultural conditioning. It can cause internal conflict about wanting to earn more, leading to self-sabotage.

4. Self-Worth = Net Worth

“My value is defined by how much I make.”
People with this story may chase high earnings or status to feel secure or valid, possibly leading to burnout or financial overextension.

5. Savior Story

“I need to rescue others with money.”
This narrative can cause chronic under-saving, enabling behavior, or financial codependence.

6. Survivor Story

“I always find a way to make it work.”
Often developed from navigating financial hardship, this story can be empowering but also mask unresolved fear or a reluctance to build long-term stability.

How Money Stories Are Created

Money stories typically form during childhood and adolescence, but they can evolve over time. Key sources include:

🏠 Family Influences

What your parents said or didn’t say about money.
Observing how they spent, saved, or argued about finances.

🌍 Cultural & Societal Messages

Media portrayals of wealth and poverty.
Social norms around success, generosity, and financial status.

💥 Personal Financial Experiences

Getting a first job, debt, bankruptcy, financial windfalls, or crises.
These moments can reinforce or challenge existing beliefs.

🧠 Emotional Associations

Whether money evokes fear, pride, shame, guilt, or freedom.

🧭 Why It Matters

Uncovering your money story is key to making conscious, aligned financial decisions. It allows you to:

Break unhealthy cycles (like overspending or under-earning)
Create a more empowering narrative
Align your financial goals with your values

📝 Want to Explore Your Own Money Story?

Try asking yourself:

What did I learn about money growing up?
How do I feel when I spend, save, or talk about money?
What’s a financial decision I regret—and what belief drove it?
What do I want my relationship with money to feel like?

Isabella Mitchell