Who’s Influencing Your Money Decisions?

The decisions you make about how you spend your money, or not, are influenced by your parents, other family members, people you associate with, and the times you live in—including what media outlets come into play to influence you as well. If I was to ask you who’s influencing your decision about money, the most likely answer you would give me is just about everybody!

Many of the decisions you make are the result of other people’s actions and your reaction to them. It’s time to divide those who are messing with your money—and sometimes your head about what you should do with your money—into various groups. Most think “the government” is a primary culprit … maybe … maybe not.

There are four key areas that influence your money habits:

Governments—State and Federal
Society
Culture
Family

Think … what about your parents’ attitudes about money? Were they savers, spenders, planners, or impulse spenders?

Do you see yourself duplicating the way they managed money? Or do you do just the opposite? This often happens when families are at the extremes of any of the saving, spending, planning, or impulse spending sides. Experiencing and living in the extreme can generate going in the opposite direction.

Is that something you have done?

Patricia Lane Williams CPA is the author of Your Money: How to Get Hold of Your Money Before Debt Gets Hold of You. As a trusted resource for the accounting profession for over 30 years providing content for their continuing education. Her website is PatWilliamsAuthor.com and she can be reached at PatWilliams.Author@gmail.com.