Lending Club Blog

How to Separate Your Identity from Your Money

The title of this post might throw you off, if you didn’t read my previous post. I am not talking about separating yourself from your money. This is easy to do. What I want to cover is how to separate your identity, how you view yourself, from the amount of money you have.

The roots of the “identifying with your money as your life” problem generally begin at a young age. Parents indoctrinate their kids, either directly, verbally or indirectly, through actions which lead to lifelong habits and money patterns. If you think back to your childhood, you will be able to recall different things that your parents said or did that you can see reflected in how you handle money as an adult.

Was it wrong to count your money? Or were you considered a bad person if you didn’t save, or if you spent too liberally? All of this experience early in your life left a mark on how you deal with money now.

Another big factor is your social circle. Do you have to have a certain amount of money to be among your friends? Do you have to have a big house? Or drive a certain car? Do you feel you need to appear as if you are not wealthy even if you’re making good money? All of these forces can influence how you think about yourself and eventually may drive you to make decisions that might not be in your best interest.

The first step you should take is admitting to yourself that other people have influenced how you view money and how you deal with money. By doing this, you are acknowledging that up until this point you have given up control over how you handle money and that you have allowed other influences to make these decisions for you.

The second step is to accept responsibility for making decisions about money. By doing this, you will take full control over how you handle your money. It might seem scary at first, because you will have nobody to blame, but soon you will discover that it is very liberating to be making your own decisions about money without external influences.

In my next post, I’ll continue the discussion of how to separate your identify from how you view money.

Friday, May 8th, 2009 at 6:10 am

Comments (0)

Recommended

Welcome Home

Lending Club named #5 on Forbes’ Most Promising Companies List

Get ready for tax season with Lending Club’s Tax Form Guide

New Adjusted Return Metric

See more
Lending Club Awards
  • Archives z

Recent Posts

A Message to Investors from our President and Acting CEO

Today, our President and acting… Read More »
May 19, 2016

Lending Club Receives Tribeca Disruptive Innovation Award

Disruptive innovation comes in many… Read More »
April 29, 2016

Lending Club Business Financing Review

One of the biggest challenges of owning a small… Read More »
April 27, 2016

Lending Club partners with Funding Circle and Prosper to launch Marketplace Lending Association

Read More »
April 7, 2016

Lending Club Welcomes Maryland and North Dakota Investors!

We’re now open to retail… Read More »
February 23, 2016

What is Lending Club?

More than one million Americans have achieved their financial… Read More »
February 16, 2016

Get ready for tax season! Lending Club Now Offering TurboTax Integration for Form 1099s

Read More »
February 12, 2016

Lending Club Success: Surpassing $16 Billion in Loans

Founded in 2007, Lending Club’s… Read More »
February 11, 2016

Credit Performance Update

Summary: Credit performance of our standard program is coming… Read More »
February 7, 2016

Critical Small Business Financing Issues

A recent Harris Poll survey conducted on behalf of… Read More »
December 17, 2015

2014

We went public today!

Ringing the bell this morning at the New York… Read More »
December 11, 2014

New and Improved Statistics Page

We recently redesigned our Loan Statistics page to make… Read More »
November 13, 2014

Lending Club Honored with Economist Innovation Award

This month I was honored… Read More »
October 15, 2014

Welcome Vermont Investors!

Today, we’re thrilled to welcome residents of the state… Read More »
September 4, 2014

We filed to go public today

We filed a registration statement with the SEC today… Read More »
August 27, 2014

Our Billion Dollar Quarter

We’re excited to announce  that we’ve facilitated over $5… Read More »
July 8, 2014

Is Lending Club Available in My State?

Is Lending Club available in my state? That is… Read More »
July 7, 2014

Lending Club Joins Senator Cory Booker to Discuss Improving Access to Capital for Small Businesses

Read More »
June 20, 2014

Lending Club Named a CNBC Top 50 Disruptor for a Second Year

For the second year in… Read More »
June 17, 2014

PRIME is now Automated Investing

Lending Club is excited to announce that PRIME has… Read More »
May 14, 2014
View All w