If you listen to children talking about school, they will often speak about their teachers. They speak about what their teacher told them to do or not to do. It becomes clear which teachers are having an impact on them.
I was sitting in a forum, where the speaker in a bid to break the ice, asked us who was our most impactful teacher. He asked us to give examples or stories about this teacher. It worked! This was a group of people aged between thirty and sixty and we all remembered incidences like they happened yesterday. Some could even directly attribute pursuing certain careers or arts because of a teacher. That’s how powerful they are. If teachers can influence the entire course of one person’s life, it is very important to keep noting who their teachers are and ensuring the right teachers are present. I am not just talking about teachers in formal schools but teachers in everyday life who influence people just as much.
As we teach money in our classes, we have come to realize the problem is not the budget, lack of savings, spending or the fact that you are in debt. Obviously these present challenges, but the deeper problem is the initial teacher (s) who made people believe or have a certain mindset with regard to money. It is important to recognize your teachers. Some may have taught you the right thing. But others may have not. However, you may still be suffering the consequences of their lessons later on.
James started working in a bank as a management trainee about seven years ago. He admired his boss and considered him a mentor. They had a good relationship and James was sure that his career would progress. One day, he went out for drinks with his boss. His boss openly told him that despite his hard work and effort, he would have to upgrade his lifestyle in order to advance his career. The words that cut deep were that ‘he’ (the boss) did not get where he was by driving the kind of car James was driving. James did not have anyone else who was influential in his life to teach him something different. The belief was set in. He slowly started changing his life, not because he wanted to but because he believed this was the right way to enhance his career. Seven years later this lifestyle has caught up with him. He has changed jobs and bosses since then but has continued to believe this lie. This lesson has gotten him in loads of debt that he is now struggling to get out of.
Rachel’s mother was a different type of money teacher. Rachel learnt how to ‘hustle’ from observing her mother. She saw her do multiple things to get money so that Rachel and her brother could go to very good schools. She did farming, selling household goods, investing in stocks, construction etc. Not every venture worked but her children learnt from it. She would take Rachel around with her when banking, negotiating with suppliers and would even have her children listen when she discussed payment plans with the school. Rachel has a very good job but it does not stop there for her. She has invested in stocks, some businesses and property. Her mind relates to money as something to multiply because it is what she saw. She does enjoy her money but has no issue tightening her belt when the need occurs.
What lessons did you learn and what beliefs are you carrying around? Sit with yourself and go back in time. Who has influenced your financial behaviour both positively and negatively? There will be some teachers like the one James had, that were wrong and you need to understand that. It doesn’t mean that they were bad people with ill intentions on your life. Maybe they were also given the same lessons by somebody else. This awareness is a very important step. Right now do you continue surrounding yourself with the wrong teachers? Certain friends, social media, groups?
Go out and find the right teachers. Have a conversation with somebody different, read something, take a class. The difference between people is not how much money they have today or even education. It is really how they think. Somebody taught you to think the way you do. Was it right or do you need to re-learn?
Waceke runs programs on Entrepreneurship and Personal Finance Management, registration is currently open and ongoing through our website centonomy.com For more information get in touch with her through waceken@centonomy.com /Facebook-Waceke Nduati /Tweet @cekenduati