Financial psychotherapist Vicky Reynal explains that our spending habits often stem from childhood experiences. She says feeling secure as a child can lead to healthy money attitudes, while neglect might result in guilt or overspending. Reynal emphasizes the impact of growing up in environments of scarcity or wealth on our financial mindsets.
Your relationship with money might seem random, but one expert says it offers clues about your childhood — and understanding this could help overcome toxic spending habits.
"The little toddler that goes up to their parents to show them their scribble — how they get responded to will give them a message about how the world will respond to them," Reynal added.Reynal said "the money lessons we learn growing up" are largely shaped by whether we grew up in an environment of scarcity or wealth.
Alternatively, there are people who grew up with little but became wealthy, and are now very careless with money. To identify these, you first have to determine what your financial habits and inconsistencies are, Reynal said, giving an example of someone who might overspend in the evenings. Reynal said she had a young client who would always run out of money within the first two weeks of the month. She asked them: "What would happen if you were financially responsible?"
Money Habits Childhood Experiences Financial Psychology Scarcity Mindset Wealth Mindset
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