Have you ever stopped to think about how your upbringing and personal experiences shape your financial decisions? Even if you don’t classify yourself as a money person, it still drives many of the decisions we make every day. Today we’re joined by Julie Genjac, Vice President and Managing Director of Applied Insights at Hartford Funds, to discuss the concept of a money story and how understanding it can transform your financial future.
We spend a huge portion of our life working for money to do and buy the things we want to have. Eventually we all want to reach the point where we no longer have to worry about money and can enjoy the freedom from having to work. But many CRNAs will say that they aren’t money people or don’t care about finances, but it’s still at the core of many of the things you do each day.
As Julie explains, our relationship with money is one of the longest-running relationships in our lives, influencing our decisions daily. From deciding whether to buy that new gadget to planning for retirement, our money story plays a crucial role. What’s remarkable is our thoughts, beliefs, and feelings about money are often formed between the ages of five and 15. These early experiences, whether positive or negative, shape our financial behaviors and attitudes as adults. By identifying these money scripts, we can better understand why we make certain financial decisions and how to change behaviors that may not serve us well.
Julie’s personal money story is pretty remarkable as well. She began running a babysitting business in her teens and got her first financial internship at age 17. She credits that to the strong work ethic and the importance of investing in oneself that her parents instilled in her. She’s also passing along those same values now to her own children.
She also partnered recently with Kathleen Burns Kingsbury, a wealth psychology expert and author of Breaking Money Silence. Kathleen's mission is to help individuals talk more openly about money and the lessons they've learned. She encourages listeners to create a money genogram, a family tree that includes attitudes and beliefs about money. This exercise can reveal patterns and help you understand the root causes of your financial behaviors.
So, how can you apply these insights to your own life? Start by reflecting on your money story and identifying any scripts that may not be serving you well. Then, take steps to change those behaviors and share your financial wisdom with others. Whether it's talking to your children about money or discussing financial goals with your partner, open communication is key.
By understanding your money story and making positive changes, CRNAs can build a stronger financial foundation and feel more confident in their financial lives.
With decades of experience working exclusively with CRNAs, CRNA Financial Planning® has the knowledge to help you save more of your hard-earned money and plan for life after anesthesia. Schedule an introductory phone call to discuss your current situation and needs. You can also call our office at 855.304.3748 or email us at inquiry@crnafinancialplanning.com.
The opinions voiced in this material are for general information only and are not intended to provide specific financial or tax advice or recommendations for any individual.
Investment Advice offered through Private Advisor Group LLC, a Registered Investment Advisor