From Our CEO: How Our Relationship With Money Is Influenced by Our Past

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SUCCESS CEO Amy Somerville reflects on how our relationship with money is impacted by our parents’ or guardians’ attitudes toward finances. | SUCCESS

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TABLE OF CONTENTS Portrait of Amy Somerville

Is it true that our relationship with money is a direct reflection of our parents’ or guardians’ attitudes toward finances? This question was posed to me at a conference several years ago, and it has stuck with me. While it seems obvious that our childhood experiences play a significant role in shaping our behaviors as adults, their profound impact on our financial goals, decisions, and how we think about money is certainly something I underestimated.

Growing up, my parents’ views on money were starkly different. My mother enjoyed the hunt for a good deal, proudly discovered ways to use coupons and believed in saving for a rainy day. On the other hand, my father believed in the value of a reputable brand, prioritized quality over quantity and cherished unique experiences. Growing up with consumer models that were complete opposites was certainly confusing for me as a child, but it imparted valuable lessons on the importance of both saving and investing, as well as the power of choice.

The concept of choice has become a recurring theme in my financial journey. So, I wondered: How has the psychology of money influenced my decisions (both big and small) and how might I improve my financial success in the future?

I am not a financial expert by any means. However, I am constantly trying to improve all aspects of myself and seek to identify where I might remove roadblocks to achieve greater success. Pondering this triggered a deep dive into my psychology with money.

I asked myself:

By unraveling the threads connecting childhood and financial decisions, I gained valuable insights that will empower me to make intentional choices, ultimately shaping a more secure and prosperous financial future. And maybe even more importantly, as a parent, I am evaluating the experiences and lessons that I may have imparted on my children regarding money, and how those lessons may need to change.

This exercise required both self-reflection and examination of past experiences. It was truly transformative for me, and I hope it will be for you, too.

Amy Somerville, CEO of SUCCESS Enterprises

Photo by Mike Davello

Amy Somerville, CEO of SUCCESS® Enterprises, is a mission-driven leader with demonstrated success in developing highly effective teams, delivering dynamic learning strategies, and building engaged communities. She is a passionate community-builder, gathering like-minded, successful entrepreneurs and businesspeople to share best practices for success. She lives her life intentionally and is driven daily by the acronym L.I.V.E.: LEAD, INSPIRE, VALUE, EMPATHIZE. Follow Amy on Instagram, Facebook and LinkedIn.

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Unlock the Latest Knowledge that Can You Help You Achieve More in Life with More Confidence

Print and Digital Options Available

Unlock the Latest Knowledge that Can You Help You Achieve More in Life with More Confidence

Print and Digital Options Available

https://www.success.com/our-relationship-with-money/