Financial Identity

The identity you hold in regards to yourself and others directly influence the extent of your limiting beliefs or freeing thoughts.

In regards to personal finance,money matters in general, your financial identity has great power over your past, present and future financial success and freedom.

An example of a limiting financial identity: The aussie battler

If a person has the “aussie battler” identity, and shares this personal view with others, they will strive to be consistent with this, and even though they may make a reasonable living, will ensure they are ineffective in creating wealth in order to remain consistent with their identity. Accordingly, the aussie battler, which for some may feel like the safe place to reside, is a negative identity which significantly impinges on the creation of wealth.

A positive identity can actually be limiting: I am rich

The “aussie battler” is clearly a negative identity in regards to wealth creation. Seemingly positive identities, such as “I am rich”, can be unhealthy as it ties a person to their riches. When a person sees the quality of “who they are” as a direct relationship with “how much money they have”, anticipated financial freedom is replaced with financial fear – that is, living through “a fear of the loss of riches”.

Key tips to a healthy financial identity

If you say things like “I’m hopeless with money”, replace this with “I am improving how I use money everyday”

• If you fear your future financially, replace this with, “I have all the resources I need today, and constantly explore how I can be more effective with money.
• If you are wealthy, and your wealth is your identity, shuffle this to “I am grateful to have the ability and drive to create wealth for myself and others”
• If your self-worth is linked to what you get paid per hour, move this to “I am regularly seeking ways to improve myself, my knowledge and my skills, and bring this package to benefit others”
• If you think that you would be happier with more money, replace this with “My happiness comes from the inside”
• If you say things like “Money is an area I know little” replace this with, “bit by bit I am learning more about how to use money in a way that enhances my life”.