How your Belief Systems Affect your Wealth

Life by Design

In this episode, Jessilyn and Brian Persson dive into the belief systems we hold around money and how they directly impact our ability to create wealth. These beliefs are often ingrained in us from an early age, shaping our thoughts, emotions, and actions regarding money—either propelling us toward wealth or holding us back from it.

They discuss how these belief systems are often inherited, not created by us. Influences from our parents, relatives, teachers, and early life experiences shape our views about money, many of which may not serve us today. Jessilyn and Brian emphasize the importance of regularly reviewing these beliefs, understanding that they can be challenged and reprogrammed to align with our personal growth and future financial goals.

By reprogramming your mindset at its core, you can change your approach to wealth and wealth-building—an empowering process that Jessilyn and Brian guide us through, step by step.

—

Resources discussed in this episode:

• Download “Three Mistakes That Keep High-Achieving Couples From Building Their Wealth, Freedom, and Living a Life They Love” at DiscoverLifeByDesign.ca/wealth

__

Contact Jessilyn and Brian Persson | Discover Life By Design:

• Website: DiscoverLifeByDesign.ca
• Instagram: DiscoverLifeByDesign
• Facebook: Discover Life By Design
• Linkedin: Discover Life By Design
  
  

—

Transcript

Jessilyn Persson: [00:00:09] Welcome to the Life by Design podcast with your hosts Jessilyn and Brian Persson. We support couples in achieving their wealth goals by sharing our journey of overcoming barriers to build our financial empire.

Brian Persson: [00:00:20] Recognizing the growing need for couples to find alignment and invest confidently in real estate, we created the Riches, Relationships and Real Estate program. Our goal is to support you in achieving your financial and relationship goals together. Want to know more about what's stopping you from building your wealth? Make sure to go to DiscoverLiveByDesign.ca/wealth and download the Three Mistakes That Keep High-Achieving Couples From Building Their Wealth, Freedom, and Living a Life They Love.

Jessilyn Persson: [00:00:50] Today's topic is on how your belief systems affect your wealth. So your belief systems play a crucial role in shaping your wealth because they influence how you think, feel and act regarding money. If you believe that money is hard to come by like I used to, you might approach opportunities with caution or even fear, limiting your financial growth. On the other hand, if you believe wealth is abundant and achievable, you're more likely to take risks, seize opportunities, and make decisions that foster financial success. Ultimately, your beliefs about money can either propel you toward wealth or hold you back. Rolling in to take away number one, your belief system was given to you, not created by you.

Brian Persson: [00:01:30] Right. We come from some personal development and a lot of experience where, you know, it comes from your parents, your belief system, and a lot of who you are comes from your parents.

Jessilyn Persson: [00:01:42] And your upbringing. So your grandparents, your aunts, your uncles, teachers, your best friend's parents, whatever you watched as you grew up before you became an adult and were on your own. That is where a lot of your belief systems come from.

Brian Persson: [00:01:54] Yep. And people don't really like to think that they are their parents. But the truth is, is that you are a lot of those people. You're specifically your parents, plus these little combinations of other people who have come into your life early on in your life, like before high school, when you were, when you were very young.

Jessilyn Persson: [00:02:13] Yeah. And a lot of what your parents did might not work for you today.

Brian Persson: [00:02:18] No, no. Changing environments, changing mentalities, changing everything.

Jessilyn Persson: [00:02:23] The economies, the way you make money, the way you invest, the way you build it. Quite different now than, say, when our parents were younger.

Brian Persson: [00:02:33] Yeah. The only constant is change, as they say. And things that happen in the past are not going to work for you. So those old belief systems that were handed down to you just are not going to work in any new environment. And they might not work for your goals either. Your goals and your parents goals might be very different. And so you can't take the same set of actions and and expect the same set of results.

Jessilyn Persson: [00:02:57] Yeah, I think a very popular belief system that is handed down from generation to generation is that the man is the moneymaker. The man should be the provider, and the female stays home and raises the family, takes care of the house. That's just so old school. That's not today. Obviously, I'm a very independent woman who built my career very hard, and I shifted careers too, mid time there and in there had two boys and you took over a lot of what we would deem the household duties that a typical woman was generally expected to take care of, including like drop off and pick up of the boys at daycare and then at school and at their sports. Volunteer. You volunteer for a lot of the kids travel expenditures that they do in school. And as you note, that majority are moms there. It's not the dads. And that's just...

Brian Persson: [00:03:54] I'm always the only dad. Maybe once in a blue moon, I get, I get a dad with me.

Jessilyn Persson: [00:03:58] Yeah. And I personally, I think it's great. There are certain times I do things with the kids as well, and there are definitely still roles I play with the kids when it comes to the mom side of it, but I just had, you had a career where it was stable. You were an employee. It was close to home, not even a ten minute drive, close to the schools. You were there for years, so you knew what to expect. You could plan around it. Whereas I had a career that I switched often. Not necessarily the career itself, but I was a contractor. So I switched roles, I switched companies, and I just kept growing and becoming, you know, become a senior project manager. That takes a lot more generally effort. And I put in a lot more hours at times depending on the projects. So it just was easier in some ways for you to be able to manage the household.

Brian Persson: [00:04:46] Yeah. My career, just like you said, my career was well established. It was five minutes away from home, your, most of your positions were anywhere from half an hour or more away from home.

Jessilyn Persson: [00:04:57] Yeah.

Brian Persson: [00:04:58] And the hours were different. Like, everything aligned to me being sort of Mr. Mom and driving the ...