Vivian Goh, Financial Wellness Coach & Facilitator

"Like most of you, my money story isn’t a fairy tale. I grew up in a household that experienced everything from bankruptcy to living the high life. It was like a roller-coaster ride.

Growing up, my dad was hardly home as he was mostly busy with work. Meanwhile, my mom looked after my brother and me while working full-time as a secretary. Just like any other kid, I was a little sponge, absorbing all the behaviours that my parents had.

In my early 20s, I graduated from Monash University with a Degree in Finance and Accounting only to find myself lost and clueless about how to manage my personal finances - If you are thinking or feeling the same, you are not alone.

Over the years, I’ve realised that there are a few important aspects to managing finances well. The knowledge and technical side of finance is only a part. In my experience, it is the easier part to master. First, and more important is to understand our relationship to money.

As human beings, our minds are full of assumptions and cognitive biases that are strongly influenced by our upbringing. Often most of them are anchored to emotional events that happened when we were young.

Some years ago, I uncovered some unhealthy money beliefs that restricted my wealth. Here are a few:

• I must work hard and long hours to earn money.

My dad was hardly home, so I accepted that it was normal to work long hours to pay bills.

• If I have money, I must spend it.

In the early stages of my life, I witnessed lots of spending, instead of saving and investing. So, I was good at spending every penny I had.

Added to that, social media and constant advertisement bombardment played a role in making spending easier each day. Whatever possession I owned, was never good enough.

• Not trusting my partner in making financial decisions together.

This strongly impacted my earlier relationships, where I would choose not to make any financial decisions as a couple. I kept my finances a secret and became defensive when asked about them. Those relationships broke apart.

After years of personal inquiry work, I realised that there is no need for me to hold on to money stories passed on to me. This has opened up doors for me to truly be of service to what happens in this present moment and make financial decisions that enhance my wellbeing and others too.

When we no longer are identified with our stories, the beautiful life that we desire will start to unfold with a little bit of patience and commitment.

“With a clear mind, the right path will show its way.”