The Financial Responsibility of the 99%

Posted on November 28, 2011 by Lynn Telford-Sahl, One of Thousands of Money and Finance Coaches on Noomii.

There is a shared responsibility for the financial condition of the world. The 1% need to share their money more equitably. The 99% need to educate themselves about money and take their power back, or perhaps develop a sense of financial power for the first time. There’s something I realized this year and that’s how ignorant most of us are about our relationship with money. I came to this ah-ha while going through a five month training to become a Certified Money Coach.

Now that I can see more clearly, because my financial blinders have been partially removed, I get how little the collective us really understands about money. What does money really mean to you? Fill in this blank. To me money means________.* Most people say freedom or security. I like to add FUN. As a therapist/coach/business owner I’ve been interested in making more money, and read at least 50 books about money – how to make it, and make more of it, keep it, save it and manage it. But there’s a deeper meaning to money that remains hidden for most of us.

The anger that the 99% feel toward the wealthy 1% can be a positive anger if it gets channeled in healthy ways. Yes, legislation that favors the 1% disproportionately needs to be changed. But, the 99% also need to take financial responsibility for their money ignorance and lack of power. We need to educate ourselves and there’s no excuse not to because the information is available. In the last ten years, not only do we have books available about the nuts & bolts of money (budgets, making more $$, etc), but most importantly how to change our emotional relationship with money. That’s where the real juice is.

I gave a presentation about Turning Financial Stress into Freedom to a group of multi-level marketers last week. It was really fun. These are folks that still believe in the American Dream and who are hard workers, and goal and success oriented. But, they will only be able to achieve their financial dreams if they understand and begin to transform their understanding of how they emotionally react and respond to money.

Here are 3 things I shared with them that may help you:

1) Raise your money consciousness by knowing how much money YOU need (not your parents, your spouse, your kids, your best friend) to make you happy. Write down that number________.

Research shows most believe that to be between $50-70K a year.

2) What is your earliest money memory?** __________ How does that memory affect your adult relationship with money today?

One woman at the talk shared that as a child she would ask her parents for money and they always gave it to her. Now, as a sales person she has no problem asking for the sale or the check.

3) How did your parents feel, talk about or behave with money? How do the thoughts, feelings & beliefs you developed in your family affect you today? “Your relationship with money is not just about money, it’s about everything. Everything you eat, drink, fear & buy.” David Krueger

David Krueger The Secret Language of Money * Deborah Price Money Magic