Financial Mental Baggage

Who in your life is your biggest influencer or who do you go to for mentoring when making big decisions? It’s interesting because sometimes we have a coach or we have an advisor that we go to. But one of the things I’ve found that’s interesting is sometimes it’s actually the beliefs that you have in your head.

For me, as I became an entrepreneur and started a business I had to sort through a lot of things from my dad like “money doesn’t grow on trees”, and “maybe wealthy people have done something a little suspect to get where they are.” And that was a lot of mental baggage that I had to sort through.

I see this with our clients now, a lot of people have a really strong feeling about putting your money in the market, they think it could be a scam. When in reality it’s a tool that you can use. On the other side, there are people who believe that you can’t trust insurance products, “because they’re all a scam”.

A lot of the time it really just comes back to the fact that they don’t really understand exactly how something works so it must be a scam.

So it’s interesting to think about. What are those thoughts and feelings that influence you? Do you have someone that you go to that helps you make decisions? Do you do a bunch of research? Or, do you have some of these hidden beliefs that you may not even be aware of that really tend to shape and drive how open-minded you are and what you’re thinking about in life?

I’ve shared some of my negative self-talk. What are some of the things that pop into your head unintentionally that sway your decisions? I’d love to hear them.

Nolan Financial Radio

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