As we’re crafting our new questionnaire for our clients, we’re taking a deep dive into the ‘why’ behind their financial goals and understanding their habits. We know that these habits have their roots in experiences as far back as their childhood. That’s why we’ve added a question about childhood memories of money to our questionnaire. What’s fascinating is that it sparked a lively conversation within our team. It all started with a simple question: What did you do with your communion money?
The answers to that simple question were as diverse as the individuals in our team. Some of us confessed to spending every last penny of their Communion money on something that brought them instant joy. Others revealed that they had diligently saved their money, sometimes with the guidance of parents or grandparents, planting the seeds of future financial responsibility.
One thing we all agreed on was the profound impact those early choices had on our adult financial behaviours. It’s rather fascinating, isn’t it? As adults, we often find ourselves mirroring the financial habits we developed as young children. It’s almost like those early experiences imprinted a template on our minds, shaping our financial choices throughout our lives.
So, for those of us who were savers back then, we tend to carry that financial prudence into our adult lives. And for those who splurged and enjoyed every cent, we might still grapple with impulsive spending. It’s a reminder of the significance of early financial lessons and how they can persist and influence our behaviour for years to come.
Recognising the connection between our past and present financial behaviours allows us to better understand ourselves and our clients. By delving into the ‘why’ behind these habits, we gain valuable insights that enable us to offer more personalised and effective financial guidance. It’s a powerful reminder that, even as adults, we often remain deeply influenced by the financial decisions we made as seven-year-olds.
So now we have to ask….what did you do with your communion money?