Let me tell you a little bit about my story. I grew up as an only child. My parents used to work a lot to get ahead. I would get pocket money for doing chores and working in the family business. And used to get lessons around money needing hard work to be created. If I ever wanted something ‘big’ I had to work for it and put the money away. I then created the same patterns in my adult life, although with a slight difference.

Your family background has a lot to do with the ay you now handle money. Funnily enough generally you can see too things happen in any situation. When people grow up in situations where money is tight, they either accept it and carry out the same pattern, or despise it so they set financial goals to break away from the situation and create their own fortune.

Some patterns are worth holding onto. Fame and fortunes will not come without putting in the effort, so understanding that setting targets and reaching those will take effort at a young age is rather beneficial. It is also great to understand what you want out of life. If the lifestyle you grew up with is not for you, you have the opportunity to change it. Personally I didn’t want to spend my life constantly working so I set up my goals in a way that afford me the flexibility to also enjoy the fruits of my hard work.

Our families influence our financial behaviour. Imagine if your parents never wanted to spend a dime on anything they didn’t have to, instead they saved it for a rainy day. Depending on how you felt about this behaviour yo would either decide to do the same, or maybe you’d decide that you hated having substandard appliances and out-of-fashion clothes when you technically had the money available in savings to do something about it. So whether you are aware of it or not at the time, you develop habits of either becoming a spender or a saver. This attitude will later influence your financial behaviour.

If you want to make money last as long as you do – and remember we are living longer than our ancestors did – you need to create a financial plan that will support you in your retirement. This can be easier said than done if retirement is not even something you were planning for. When we are young we tend to only think as far as the next holiday. So this can be a bit of a stretch, but let’s stop and break it down for a minute.

If you cannot focus on retirement, think about the lifestyle you want to achieve in the next 5 to 10 years. What will you need in place? House, car, holidays, family, entertainment … and the list goes on, how much will that cost you? Once you know all of that then you can start working backward for a plan.

And once you have the plan, you can look closer to home – at you. What sort of personality do you have? Are you a spender or a saver? What will you need to have in place to achieve the lifestyle you are after? Do you need some checks and balances to stop you from over spending? Do you need to develop some new habits to reach your goals? Will you need reminders to take that holiday you have been saving for?

Always start with the big picture and work your way backward.

Are you ready to tackle the money story you are buying into? Check out the Get a Financial Grip Program.