“What’s your relationship status…with money?”
One time when I was talking to two millennials, I asked, “Are you both single?” they answered, “No.” When I followed it up with a surprised, “Oh so both of you are already married?” They both said, “No we’re in a relationship.” Then I realized, gone are the days when status was either married or single. If you check your facebook account, there are 11 choices to pick from: single, in a relationship, engaged, married, in a civil union, in a domestic partnership, in an open relationship, it’s complicated, separated, divorced, widowed.
Go online and you find more sub-types: talking, kinda talking, something but nothing, confused, leading someone on, being led on by someone, homewrecker, mutual understanding, No BF/GF since birth, bestfriends with benefits, in a love triangle, exclusive dating, mistress, in love, broken hearted, bitter, forever alone, and many more!
Wow! Relationships can really be complicated these days.
The same is true when it comes to our relationship with money. It can really be complicated, confusing, scary, broken, bitter and a bad one can indeed be a homewrecker!
Money is the most misunderstood commodity in the world. It ranks high up there together with sex and religion. It is an emotionally charged subject because of the various meanings and feelings we attach to it. Let me share with you some common money quotes to illustrate this point.
Let’s look at some Filipino money quotes.
There are many more beliefs and emotions about money. I’m sure your own family has its share of interesting beliefs. The truth is money is neither good nor bad. Money is just money. It is in how we relate to it that adds the dimension of good or bad.
So try to observe yourself and figure out how you relate with money. Then understand why you relate with money the way you do today. This entails going down your childhood money memory lane. Did you grow up feeling that money was always lacking or did you grow up not worrying about money at all? What did you hear your parents say about money? Did they quarrel about money? Did you grow up hearing, “Money does not grow on trees!” or did they say, “If you’re willing to work hard, money will follow!” Did you feel that your friends and relatives had more money than your family did, or was it the other way around?
In order to build something long lasting, make your foundation strong. The higher you want it, the deeper your foundation should be. To achieve a high FQ, it is important to go back and dig deep into our childhood money memory.
This is always a very interesting part of my FQ workshops.
Would you like to know the childhood money memory of some of our country’s leading finance people? These are incoming Bangko Sentral ng Pilipinas Governor Nesting Espenilla, former Finance Secretary Cesar Purisima, former president of the Philippine Stock Exchange Hans Sicat, popular lay minister who teaches about money Bo Sanchez, COL Financial Founder & Chairman Edward Lee, Sunlife CEO Riza Mantaring, Founding President of the Fund Managers Association of the Philippines Marvin Fausto, Finance Coach Randell Tiongson, On The Money hosts Salve Duplito and Edric Mendoza. You can watch my interviews with them to find out their respective childhood money memories. (Click on their names to go to their respective interviews.)
After watching the above, you can sit down in a quiet place and write down your own childhood money memory. This will help you understand the why of your current relationship status with money.
Cheers to a strong foundation for your high FQ!
- Join us tomorrow on FQ Live! Episode 14 at noon. My guest is On The Money co-anchor and managing editor Salve Duplito and we will talk about today’s topic – relationship with money, childhood money memory and more. PM me your questions now.
- Want to know your FQ Score. Take it today. Click link to take the test.
- I will speak at the “12th Puregold-Tindahan ni Aling Puring Sari-sari Store Convention” with the theme #PanalongPagbabago to be held on May 25, 2017 (Thursday), 1:30-2:30pm at the World Trade Center, Manila. My topic is Pagbabago sa Pananaw sa Pera (Gets mo ba ang relasyon mo sa pera?)
Rose Fres Fausto is a speaker and author of bestselling books Raising Pinoy Boys and The Retelling of The Richest Man in Babylon (English and Filipino versions). Click this link to read samples – Books of FQ Mom Rose Fres Fausto. She is a Behavioral Economist, Certified Gallup Strengths Coach and the grand prize winner of the first Sinag Financial Literacy Digital Journalism Awards. Follow her on Facebook and You Tube as FQ Mom, and Twitter & Instagram as theFQMom.
ATTRIBUTIONS: Images from 13-Drawing Cartoons, Clipartfest, wikia, her campus, mashable, pinterest, pixabay, sarcasm, vectortoons, wikiwand, www.mihanfal.com and www.parship-info.at put together to help deliver the message.