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  • Writer's pictureBespoke Financial Advice

Creating a Positive Money Mindset for Lasting Financial Success

In our journey towards financial success and security, it is crucial to understand our relationship with money. Our experiences with money shape our beliefs, which in turn influence our financial decisions and behaviours. By gaining insight into our financial beliefs, we can make more informed choices and create a positive mindset towards money. In this article, we will explore how our core beliefs about money are formed, the biases that impact them, and the importance of investigating and challenging these beliefs.

The Power of Core Beliefs

Our core beliefs are deeply held assumptions that shape our thoughts, emotions, and behaviours. They are created through our experiences and observations, often in childhood. While some of our core beliefs are helpful and empowering, others can be limiting and detrimental to our financial well-being.

Money Scripts: The Influence of Core Beliefs

When core beliefs revolve around money, they are often referred to as “money scripts.” These scripts can manifest in various ways, such as fear, doubt, or impatience. For example, if you grew up with the belief that money is scarce and difficult to attain, you may develop a script that hinders your ability to take financial risks or pursue opportunities.

The Role of Core Beliefs in Decision-Making

Core beliefs serve as filters through which we interpret the world and make decisions. They create a sense of coherence and familiarity, but they can also limit our perspective. Our core beliefs act as the roots that drive our assumptions and thoughts, influencing our automatic thoughts and behaviours.

The Formation of Core Beliefs

Our experiences, biases, and the environment in which we grow up all influence our core beliefs. They develop through implicit learning as we observe and make sense of the world around us. Let’s explore the factors that contribute to the formation of our core beliefs.

Implicit Learning and Little Rules

As children, we learn implicitly by observing our surroundings and creating little rules to navigate the world. These rules can be if/then statements or absolute statements. For instance, “If I talk about money, then there will be a fight” or “Good things never last.” These rules help us make sense of our experiences, but they can also become deeply ingrained beliefs.

Shortcuts and Sample Size

When we form core beliefs, we often take shortcuts due to our limited perspective and cognitive limitations. We notice events that confirm our rules and ignore those that don’t. Moreover, our sample size is usually small, limited to our immediate family system. This limited perspective can reinforce and solidify our core beliefs, even if they are not entirely accurate.

Influence of External Factors

Our core beliefs are not solely shaped by our family environment. They are influenced by our neighbors, cultural customs, religious beliefs, and the media. These external factors contribute to the development of our core belief filters, which influence how we perceive and interpret the world.

The Biases That Shape Our Core Beliefs

Our core beliefs are susceptible to biases that can distort our perception and reinforce existing beliefs. Two key biases that impact our core beliefs are the negativity bias and confirmation bias.

The Negativity Bias

The negativity bias refers to our tendency to focus more on negative experiences and aspects. This bias has evolutionary roots, as our ancestors who were more attuned to threats had a higher chance of survival. Consequently, our core beliefs often lean towards negativity and risk aversion.

Confirmation bias is the tendency to notice and remember information that confirms our existing beliefs while disregarding contradictory evidence. Our elephant mind is the driving force behind this bias, which occurs at a subconscious level. Our core beliefs shape our initial beliefs, and confirmation bias strengthens them by selectively validating our experiences.

The Relationship Between Core Beliefs and Automatic Thoughts

Automatic thoughts are the stories that run through our minds all day long. They are influenced by our core beliefs, which act as the roots that lead to our assumptions and automatic thoughts. This relationship is complex, with core beliefs shaping automatic thoughts and vice versa.

Reinforcement of Core Beliefs

Automatic thoughts reinforce our core beliefs by confirming our existing beliefs and creating new ones. The process of reinforcing core beliefs strengthens them, making them more deeply ingrained in our mindset. This reinforcement can be both positive and negative, depending on the nature of our core beliefs.

Living on Autopilot

Without awareness and investigation, we are at the mercy of our core beliefs, living our lives on autopilot. Our automatic thoughts and behaviors are driven by deeply held assumptions that we rarely question. Investigating our core beliefs is the first step towards breaking free from autopilot and making conscious choices.

Investigating and Challenging Core Beliefs

To ensure that our core beliefs are helpful and aligned with our financial goals, it is crucial to investigate and challenge them. By doing so, we can gain insight into our triggers and create space between stimulus and response.

Raising Awareness

The first step in investigating core beliefs is becoming more aware of our behaviors and emotions. By paying attention to our reactions and asking ourselves what happened right before, we can identify the triggers that lead to certain consequences.

The Power of “Why”

Once we identify the triggers, we can delve deeper by asking ourselves why a particular event caused a specific consequence. This introspection brings us closer to the core belief that shapes our interpretation of the event. By understanding the underlying belief, we can gain valuable insights into our mindset.

Questioning Core Beliefs

To challenge and modify our core beliefs, we need to question them. We can examine the evidence for and against our beliefs, consider alternative perspectives, and reflect on their validity. It can be helpful to imagine advising a loved one in a similar situation and evaluate whether our beliefs still hold true.

Investigating and challenging our core beliefs allows us to take control of our lives and make conscious choices. By increasing the space between stimulus and response, we empower ourselves to make decisions that align with our long-term goals. It brings more of our lives into the realm of conscious thought, enabling us to make better financial choices.


Understanding and investigating our core beliefs about money is crucial for building a positive mindset towards money and achieving financial success. Our experiences with money shape our core beliefs, which in turn influence our financial decisions and behaviors. By challenging and modifying our beliefs, we can make conscious choices and create a better financial future. Take the first step in examining your core beliefs and embark on a journey towards financial empowerment.

Contact Us

To learn more about how our financial planning services can help you navigate your core beliefs and achieve your financial goals, contact us for a consultation.

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