“My family is bad with money, so I am too.”
The problem with this is, you’re not your family, and you probably earn your own paycheck. Thinking this way probably means you’re shirking responsibility and basically saying, “It’s not my fault.”
“You’re blaming your problems on everyone around you instead of holding yourself accountable for your own choices. It’s your life. Reframe the mantra by taking ownership,” says Dr. Walfish. For instance, your new motto could be: “My family has always been bad with money, but I refuse to let that happen to me.” Once your perspective changes, your behaviors should too.
“I remind clients that plenty of successful people came from families that had nothing,” says Blaylock. So it is possible to break the pattern. “Look at someone like Jay-Z,” says Blaylock. He came from the projects in Brooklyn and grew up poor, but earned $42 million between June of 2012 and June of 2013 and regularly makes the Forbes 100 list of the most powerful celebrities in the world.