Easy Ways To Grow Your Wealth

Do you see shopping as retail therapy? Such wrong views on money could hinder your savings.

Blame it on your parents. Behaviour experts from University of Cambridge believe that your views on money are already shaped by the time you turn seven years old.

“It is not what parents say but also what they do. For example, parents who give in to their children’s requests for impulsive purchases like candies and toys are telling their kids that instant gratification is acceptable,” explains Dr Kym Irving from the Business School at Queensland University of Technology. “Research shows that the inability to delay gratification is linked to difficulties with saving up for a rainy day, increasing debts and gambling problems later in life.”

Here, we identify perceptions and beliefs learnt in childhood and how to change them.

YOU THINK…

“MY FINANCES ARE PERSONAL”

YOU SHOULD THINK…

“MY FINANCES CAN USE SOME HELP”

Research shows that the top reasons for relationship difficulties are financial stress, communication difficulties, differing values and expectations, and a lack of trust. Experts encourage couples to make time to discuss finances so you are both on the same page when it comes to goals and expectations.