I was clueless when someone asked me this question for the first time. What does this money story mean?
Your money story is the sum of beliefs we build around money and wealth, that are formed and narrated over the time we grow up.
These stories could be the reason for the emotions you have around money. For instance, a few of us may experience guilt or shame or embarrassment or pride towards money and its uses. Though subtle, they exist within all of us. And they sometimes block our financial abundance, especially if they are disempowering.
Each of us has been shaping our story since childhood, from the time we first heard about money. We all have our own money consciousness. The primary factor that shapes our money consciousness is the story about money that we grew up with, believing and continue to reinforce even as adults.
So then, what next?
We need to rewrite our money story in a way that builds our wealth consciousness. Because if not done, the same stories become our excuses. And then, financial abundance becomes just an illusion. As always, the first step in all transformation is awareness. So let's get aware and then work on them:
Excuse #1: "I have plenty of time" or "I don&rsquo;t have enough time."
When people are in their teenage years, 20s, or early 30s, they think, "I have plenty of time to make money."
And once they reach their late 40s, 50s, or 60s, they think, "Oh no, I don&rsquo;t have time to make money."
The sooner you start your journey to making money, the easier it becomes to reach the other side of the curve.
If you invest ₹10,000 in an FD for a six-year-old child, by the time he/she turn 20, they will have enough money through compounding, which can fund their higher studies.
On the other hand, an elderly person would require more money because they have medical expenses, and there is no time left for compounding. That is why time is a powerful tool.
So, how do you eliminate this excuse?&nbsp;
By reminding yourself to take that first step. By building the desire and courage to act.
Even if you move forward by just 20&#37, you will be 20&#37 wealthier than before. Apply the power of compounding and take one small action consistently.
Excuse #2: "I will start investing when I have a lot of money."
We do not need a lot of money to invest because learning to invest and beginning to invest is not a factor of having more money, but it&rsquo;s a factor of changing your behaviour.
Most people have this habit: first, they earn, then they spend, and whatever is left, they invest. Or sometimes, they think, "This small amount left is not enough to invest. Maybe when I have more money, I&rsquo;ll start investing."
How do you put this excuse to rest?
By starting small. By shifting the behaviour where you ensure that the first thing you do with your earnings is to invest, then whatever is left, us ethat for spending.
Excuse #3: "I need to get out of debt first."
Let&rsquo;s be real, my friends. We all have debt. Whether it's asset debt or borrowed debt, most of us have some form of debt. But should we stop wealth creation just because we have debt?
The truth is that if you only focus on debt repayment, your financial growth gets stuck. Just like a muscle grows when worked consistently, the same applies to wealth-building.
<img src="https://images.mid-day.com/images/images/2025/jul/amrish_e.jpg" alt="" width="1280" height="720" />
To eliminate this excuse -
Divide your income wisely by allocating a portion towards spending, a portion towards debt repayment and a portion towards investments.&nbsp;
Excuse #4: "I don&rsquo;t need to understand money, I have a financial advisor/broker."
The first step towards financial freedom is financial education. Even if someone else is handling your stock market investments, you should still know where they are investing, what techniques they are using, and whether they are making the right decisions.
How do you eliminate this excuse?
Asking yourself, "What is my skill-building plan for the coming year?"
If you want to stay active on the path to financial freedom, which skill should you work on?
Learn how to invest, understand property markets or explore how commodities work.
Excuse #5: "It&rsquo;s complicated. It&rsquo;s not my cup of tea."
The financial industry has made it seem complicated so that we remain dependent on advisors. But in reality, it&rsquo;s just simple math.
You don&rsquo;t need a finance background. You don&rsquo;t need to be good at numbers. Anyone can do this.
Let me give you a simple example of how simple this is - making some money for yourself, spending less than that. Let&rsquo;s say you are making Rs 100, you save Rs 30 and spend the rest. That&rsquo;s how you make your wealth. It&rsquo;s that simple.&nbsp;
To avoid this mistake:
Take action, and things will start changing for you.
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The sooner you start your journey to making money, the easier it becomes to reach the other side of the curve.

MoneyFesting: What’s Your Money Story?

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MoneyFesting: What’s Your Money Story?

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