Your Social Circle Is Holding Your Wallet Hostage
Discover the Hidden Impact of Friends on Your Finances and How to Take Back Control
Have you ever stopped to ponder how the folks you chill with influence your financial habits? It's not just about who grabs the bill at dinner or treats you to a movie, but deeper stuff—like shaping how you think about money, whether you’re squirreling away for a rainy day or splurging without a second thought.
This concept isn't exactly new.
Jim Rohn turned heads when he said we're the average of the five people we spend the most time with.
John Demartini dives deeper in his book The Riches Within, shedding light on how these relationships could be dictating our financial ceilings.
So, let's dip into how your nearest and dearest might be shaping your money mindset, perhaps even capping your financial potential.
First things first, what's a 'money mindset'?
Simply put, it’s how you view your finances—are you seeing opportunities for growth or just endless bills?
This mindset steers your path to financial freedom or traps you in a paycheck-to-paycheck cycle.
And here’s something to chew on: the people you hang out with can seriously mold this mindset. If your buddies are the kind to pinch pennies and hunt for deals, you might find yourself mirroring those savvy habits. On the flip side, if your pals live for today without a care for tomorrow, that vibe might rub off on you too.
Let’s toy with Rohn’s idea for a sec. Picture the five pals you spend most of your time with. Think about their money habits—are they savers, spenders, investors? This isn’t just making conversation at a party; these are the folks likely setting your financial norms because, let’s face it, nobody wants to be the odd one out.
Now, onto a bit of wisdom from Dr. John Demartini. In his sage advice, he’s not just asking you to look at your current squad but to dream bigger. Who are the 50 people you admire? Who would you jump at the chance to meet? These folks are the embodiment of where you might want to see yourself, especially in terms of financial smarts.
This is about setting your sights higher and not just coasting along at your current financial level. Rubbing shoulders with folks who are where you aspire to be can seriously elevate your money mindset. They're the ones who will challenge you to stretch your limits and think bigger. What traits do these people have that could turbo-charge your journey to financial enlightenment?
Before we move on, here’s another introspective dive: let's examine the subconscious 'rules' about money you’ve likely picked up from those around you over the years. Grab a pen and paper, or hey, a digital notepad if that’s more your speed, and let’s get introspective.
Ask yourself some probing questions about the money 'rules' you live by, likely picked up from your family, friends, and wider circle over the years.
Here’s a few to get you started:
What activities or habits do I believe are/aren't profitable? Think about what you've been taught that can bring in money and what can't. Maybe you’ve always heard that 'Art doesn’t pay bills' or 'Investing is the real way to wealth'.
Who do I become if I have money, and who don’t I become if I don’t? Reflect on how having money—or not—might change your identity. Do you see yourself as successful and influential with money, or perhaps feel guilty for having more than others?
When do I think it’s necessary or unnecessary to spend or save money? Consider the timing you’ve been taught about spending and saving. Maybe your background says 'always save for a rainy day' or 'spend it while you can enjoy it'.
How much money do I believe I deserve? This might reveal your deepest feelings about your worth tied to financial success.
How do I handle money? How do you make, spend, and save money? Are you a cautious saver or a big spender, and why?
What other messages have I absorbed that keep me from being different or taking financial risks? These could be beliefs like 'We’ve never been a wealthy family' or 'Rich people are greedy'.
This exercise isn't just about understanding your financial habits; it's about challenging them. If you discover rules that no longer serve you or are outright sabotaging your financial growth, it's time to rewrite them.
You’re not just a product of your environment; you can be the architect of your own financial future.
This isn’t just an exercise in reflection; it's about challenging and potentially rewriting these old rules. If you discover beliefs that are sabotaging your financial growth, it’s time to set new, empowering guidelines for yourself.
Time to think about networking with intent. Where can you meet people who align with your financial aspirations? Consider joining clubs, attending seminars, or even following and interacting with financial gurus online. Every new connection is a potential goldmine of advice and inspiration—keep your mind open.
So what’s the scoop? Your mates and acquaintances wield more influence over your money matters than you might think.
But let me tell you—you have the power to sculpt your social circle and, by extension, your financial destiny.
Why settle for the ordinary when you could be reaching for the extraordinary?
Ready to reshape your financial future?
Let's start a conversation that matters.
Drop a comment below with one financial trait you admire and seek in friendships or mentorships.
Are your friends helping or hindering your financial growth?
Share your thoughts and let's grow together!
Have a mintful mind and a meaningful day!
Yours,
Monica