Published: October 30, 2025
Understanding how early experiences influence your financial decisions today.
Your investment strategy may have less to do with market data and more to do with the dinner table you grew up around.
The way you think about money, the risks you take, the risks you avoid, and the financial choices you make often trace back to lessons you did not even realize you were learning as a child.
At Hall Financial Advisors, we often see how personal history shapes financial behavior. Understanding where those instincts come from can help you make decisions that are more intentional and aligned with your goals today.
Scarcity vs. Abundance Mindsets
If you grew up hearing “we can’t afford that,” you may carry a scarcity mindset into adulthood, focusing on protecting what you have rather than pursuing growth.
By contrast, an abundance mindset, often formed in financially stable households, can make you more comfortable taking calculated risks. Neither is inherently right or wrong, but both can influence your investment choices in subtle, lasting ways.
The Impact of Economic Events
Formative experiences such as living through a recession or a market boom can leave a lasting imprint on your financial comfort zone.
A teenager who watched their parents’ savings disappear in 2008 might lean conservative in their 30s. Someone who came of age during a long bull market may have a higher appetite for volatility. These early experiences shape your perception of risk long before you realize it.
Unlearning Unhelpful Money Scripts
Financial psychologists use the term money scripts to describe the unconscious beliefs you carry about money.1 These ideas, such as “debt is always bad” or “investing is only for the wealthy,” can serve you well in some situations but may also hold you back. The first step in rewriting them is recognizing they exist.
With reflection and professional guidance, you can replace limiting beliefs with strategies that reflect your current reality and goals.
1 Klontz, B., Britt, S., & Archuleta, K. (2015). Mind over Money: Overcoming the Money Disorders That Threaten Our Financial Health. Wiley.
Inherited Investment Biases
Sometimes we adopt financial habits from family without stopping to ask whether they fit our goals or today’s market conditions.
Maybe your parents avoided the stock market altogether, or maybe they followed “hot tips” from friends. What worked for them might not be right for you — and that is okay. The key is to evaluate your financial choices with fresh perspective.
Your financial story started long before your first paycheck or investment decision. The good news is that you get to choose how the next chapter unfolds.
If you would like help understanding how your financial mindset affects your planning and investment decisions, our team can help you bring clarity and confidence to your next steps. Schedule a no-obligation consultation by calling 866-865-4442 or visit our Contact Us page.
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1 The 2025 Forbes ranking of America’s Best-In-State Wealth Management Teams, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. This ranking is based upon the period from 3/31/2023 to 3/31/2024 and was released on 01/09/2025. Advisor teams that are considered must have one advisor with a minimum of seven years of experience, have been in existence as a team for at least one year, have at least 5 team members, and have been nominated by their firm. The algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 11,674 team nominations, 5,331 advisor teams received the award based on thresholds. This ranking is not indicative of an advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Compensation provided for using the rating. Raymond James is not affiliated with Forbes or SHOOK Research, LLC. Please see https://www.forbes.com/lists/wealth-management-teams-best-in-state for more info.