Posted by & filed under Finances 101.

J K Rowling has been named as the best female financial role model for Good Money Week.  The same survey also found that worryingly, a fifth of people surveyed couldn’t think of a female financial role model.

 Now this interests me a lot! What makes J K Rowling a financial role model? Yes, she has made a fortune, she seems very level headed and not at all bling. Yes, she started off with nothing and became the first writer to become a billionaire. She also gives loads to charity. So I guess she does set a great example – but also one that is almost impossible to emulate.

I think it is important that we should all try to be financial role models. To ourselves. To children. To our friends.

To Ourselves

Our relationship with money impacts our money habits. Our money habits directly impact our financial situation. It is important to recognise the mental messages that you are subconsciously giving yourself when it comes to money. Is it negative (“I am rubbish with money” “it’s too complicated”)? Perhaps it is too fearful (“You can’t spend that! Save it for a rainy day”). If your internal dialogue concerning money is not positive, you will struggle to make informed and logical decisions.

To Children

We all have a mental monologue when it comes to money that is often inherit from our primary care givers and those that are important tous as we are growing up. This is a learned behaviour which is hard to unlearn so it is so important that we are filling the next generation’s head with positive financial messages based on fact and not fear.

To Our Friends

 It seems that it is socially acceptable to admit financial errors and bad decisions. Almost funny. However to talk about positive financial behaviours is seen as showing off and crass. This is a society norm that I would LOVE to change. Don’t get me wrong, someone bragging about how rich they are is always irritating. But having our friend’s backs and learning financially from each other needs to be encouraged. Our friends should be our financial sounding boards.

So what can you do to be a better financial role model? What could you start to think about now that you could adopt in 2019 to ensure that you are being financially kind to yourself?

As always, I would love to know what you decide.

Lots of Love

Miss Lolly xx

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