What’s Your Money Story? How Your Financial Past Shapes Your Future

“Until you make the unconscious conscious, it will direct your life and you will call it fate.” — Carl Jung

Introduction: Everyone Has a Money Story

Your money story is the narrative you carry about money—its purpose, how it works, how it makes you feel, and what role it plays in your life. It’s shaped by your upbringing, your culture, your experiences, and even your fears and aspirations. The story often runs quietly in the background, yet it influences almost every financial decision you make.

This post will walk you through understanding your own money story and how it affects your present financial behavior. Along the way, we’ll explore how to rewrite the parts of the story that are holding you back so that you can live a more financially fulfilling life. This isn’t just about budgets and bank accounts—it’s about clarity, healing, and empowerment.

Part 1: What is a Money Story?

A money story is the internal script that governs your relationship with money. It’s your personal mythology about what money means, what it's for, and how it operates in the world.

Examples of Common Money Stories

• "Money is security."

• "I’m bad with money."

• "We don’t talk about money in this family."

• "If I have too much money, I’ll become selfish."

• "Money only comes from hard work."

These beliefs often begin in childhood and develop as we witness our parents’ and caregivers’ financial behavior. They’re also influenced by cultural narratives, religious values, and socioeconomic environments.

The Power of Unconscious Beliefs

When we don’t recognize our money stories, we risk being driven by patterns that aren’t serving us. For instance:

• You might be overspending to feel loved or accepted.

• You might be underspending because you fear scarcity.

• You might be avoiding money altogether due to shame.

Understanding your story helps you pause, reflect, and make conscious financial choices.

Part 2: Where Does Your Money Story Come From?

Family of Origin

We form our earliest money beliefs by observing how our families handled finances. Were your parents savers or spenders? Did they fight about money? Were financial matters secret or openly discussed?

We inherit our money stories before we ever earn our first dollar.

Cultural Messages

Different cultures have different relationships with wealth. Some prize generosity, others champion thrift. These values can conflict when you live between cultures or try to find your own way.

Religion and Morality

Religious teachings can deeply influence how we think about wealth, poverty, debt, and giving. Some religions preach that wealth is a blessing; others warn against the temptations of materialism.

Media and Marketing

From TV shows to Instagram influencers, media is constantly telling you what a successful financial life should look like. It’s easy to internalize these ideals without questioning whether they fit your reality or values.

Part 3: The Four Money Story Archetypes

Understanding your story often begins by identifying your dominant money pattern. At JW Financial Guidance, we use four core archetypes to help clients identify their story:

1. The Saver

• Belief: Safety comes from having and keeping money.

• Strengths: Disciplined, goal-oriented, practical

• Challenges: May struggle to enjoy their money or take healthy risks

2. The Spender

• Belief: Money is a way to express love or identity.

• Strengths: Generous, optimistic, joyful

• Challenges: May ignore long-term consequences, feel guilt after spending

3. The Avoider

• Belief: Money is overwhelming or dangerous.

• Strengths: Intuitive, go-with-the-flow

• Challenges: Procrastinates on bills, avoids budgeting, suffers anxiety

4. The Status Seeker

• Belief: Money equals worth or status.

• Strengths: Ambitious, driven

• Challenges: Ties self-esteem to income or image

You can take our Money Story Quiz to identify your dominant archetype.

Part 4: Case Studies — Real People, Real Stories

Julia: The Saver With a Scarcity Mindset

Julia grew up in a household where every dollar was accounted for. As an adult, she had savings and no debt—but also no joy in spending. She refused to take vacations or even buy a new mattress. By revisiting the origin of her scarcity mindset, she began to redefine what “security” meant and allowed herself to spend in alignment with her values.

Marcus: The Spender Healing From Guilt

Marcus used spending to connect with his friends and family. But his credit card debt created immense shame. Through strengths-based coaching, Marcus began setting boundaries, using spending as a conscious tool of generosity rather than compulsion.

Leah: The Avoider Facing Her Fear

Leah didn’t open her bank statements or check her account balance. She grew up watching her parents file for bankruptcy and avoided money altogether. After learning to self-regulate her anxiety, she began to reclaim control over her finances and now uses a simple monthly budgeting system.

Daniel: The Status Seeker Rewriting His Definition of Success

Daniel equated money with self-worth. He drove a car he couldn’t afford and bought a house to impress others. A career disruption led to a crisis of identity. Through therapy and financial coaching, he began to find value in who he was—not just what he earned.

You are not your net worth. You are your values in action.

Part 5: Rewriting the Narrative — Tools for Change

1. Name Your Story

Start by writing out your money story. Use prompts like:

• What’s my earliest memory of money?

• How did my caregivers talk about money?

• What do I believe money says about me?

2. Identify the Emotions

Your money story isn’t just logical—it’s emotional. Ask:

• What emotions do I feel when dealing with money?

• What am I afraid of?

• What would it feel like to be financially at peace?

3. Define Your Values

Clarify what actually matters to you—not what society tells you should matter. Is it freedom? Stability? Creativity? Service?

4. Take One Brave Step

Small steps change stories. Examples:

• Open your banking app and check your balance

• Schedule a financial planning session

• Tell your partner your financial fear

• Automate a small monthly transfer to savings

5. Track Progress Through a “Money Journal”

Journal about what you did, what you felt, and how it connects to your money story. Over time, patterns and growth will emerge.

Part 6: How Financial Psychology Can Help

Financial psychology blends personal finance with behavioral science. At JW Financial Guidance, we use evidence-based approaches like:

• Financial psychology techniques to uncover unconscious beliefs

• Strengths-based coaching to empower positive behavior

• SMART goal planning to align money with values

This is not about “fixing” you—it’s about freeing you.

Financial well-being isn’t a destination. It’s a deeply personal journey.

Part 7: Ready to Explore Your Story?

You’re not stuck with the story you inherited. Your money story can be revised, re-authored, and reclaimed.

Take the next step: Take our Money Story Quiz 

You have the power to write a story that feels aligned, intentional, and free.

Conclusion: The Money Story is Just the Beginning

Uncovering your money story isn’t the final goal—it’s the first step toward financial wholeness. When you understand where you come from, you can choose where you’re going.

At JW Financial Guidance, we’re here to walk with you. Your story matters. Let’s write the next chapter together.