According to Ellen Rogin and Lisa Kueng, authors of "Picture Your Prosperity: Smart Money Moves to Turn Your Vision into Reality," it's all because of your "bird suit."
This is the metaphor Rogin and Kueng use to describe the two factors behind the money choices you make:
- Your external actions and money habits (the actual suit or costume itself)
- The inner money beliefs you hold (the person inside the costume)
The authors say that when it comes to financial success, your inner money beliefs - what's inside your costume - are what really matter.
They write:
Most people think that to reach their financial goals they need more of these three things: money, knowledge, and discipline. Don't get us wrong - these things certainly help. But there's something even more important to making your goals happen that's not nearly as obvious - and that's a supportive mindset. This is the all-important driver we all have inside our exterior 'costume.' Without this, it may be very difficult for you to find true prosperity.
According to Rogin and Kueng, we find it easy to focus on the costume - our external money habits and actions - because it's what we see. But the person inside the costume is what's actually making the costume come to life.
Rogin and Kueng say that often our past is what shapes our current inner money beliefs.
The authors cite the example of Joan, a female corporate executive who has worked for multiple Fortune 500 Companies and managed to save close to $9.5 million. Yet she still feels that she doesn't have much and can't afford to retire for a long time, mainly because she was one of eight children. Her mother now lives on social security benefits and a small pension, and Joan is fearful that she'll end up in a similar situation.
Rogin and Kueng point out that making more money is not the answer for Joan - it's examining and changing what's inside her bird suit.
If you aren't sure what's inside your own costume, take a look at these common stupid money beliefs even the smartest people hold.