I’ve been a fan of Neuroscience for a few years now. It not only appeals to my inner geek, but it assists me in being the best coach possible for my clients. Did you know that our Amygdala, that has served us well since the dawn of time when it helped us decide on fight or flight, now doesn’t serve us quite so well? Very simplistically, if we are bitten by a dog while talking about money, our Amygdala may decide that money is pretty scary. When we hear the word, it will tell us to RUN.
In addition, our Prefrontal cortex can’t tell the difference between something we experience versus something we imagine. It records, digests, and sends those thoughts along a neuron path. Every time we experience similar experiences or thoughts, those neurons travel the same path and it grows from a small grass path to a paved highway. A successful sprinter, winning a run over and over in their minds, is a positive example of how you can train yourself to actually win by building a strong neuron path.
You’ve likely heard of negative thought patterns – someone blaming themselves whenever something terrible happens. We subconsciously train our brain to default to a certain thinking pattern and we fall naturally into a repetitive loop because the path is already there. Your brain starts running you, instead of the opposite.
Your Money Neuro Track Sabotages
An Ivy League educated woman can’t look at her cash. In her young life, her parents divorced and cash was an issue. The family investment advisor stole the family’s savings. Several other life-changing events associated with money imprinted on her mind. Money is associated with bad news and bad memories, and her “money-is-bad-neuron-path” is probably a super highway. She’s frustrated because she can’t rationally change her behaviors.
Looking at bank statements, or talking about saving is ineffective when the brain temporarily shuts down to cope. The good news is that the brain can be re-trained or rewired! It starts with building a small neuron path of good money thoughts and experiences.
Tips will be in the next blog.
Related Topic: Your Rational Decisions – Aren’t. Part 1.
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Information shown is for illustrative purposes only and is not intended as investment, legal or tax planning advice. Please consult a financial adviser, attorney or tax specialist for advice specific to your financial situation. Behavioral Cents, LLC and any third parties listed, linked to or otherwise appearing in this message are separate and unaffiliated and are not responsible for each other’s products, services or policies.
Carrie Rattle is a Master Money Coach & Founder of Behavioral Cents. Using her 30 years of banking, credit cards and brokerage experience in multiple countries, she inspires women to change everyday money behaviors and begin their journey to wealth. Good money behaviors deliver life success. firstname.lastname@example.org.
Carrie Rattle is a Principal at BehavioralCents.com, a website for women focused on mind and money behaviors. She has worked in the financial services industry for 20+ years and hopes to inspire women to better prepare themselves for financial independence.