© Frank Magwegwe 2017

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A Christmas CarolCharles Dickens’ A Christmas Carol is probably his most famous book. The book hit the shops 173 years ago on December 19, 1843, and sold out in three days. In this classic tale, Ebenezer Scrooge left behind his miserly ways and transformed into a joyful, compassionate and generous man. Whilst, I have always enjoyed both reading A Christmas Carol and watching the theatre productions, I never thought of it as having anything to do with personal finance until a few years ago. This is after, out of sheer intrigue with the title I bought The Financial Wisdom of Ebenezer Scrooge: Transforming Your Relationship with Money, by Ted Klontz, Rick Kahler, and Brad Klontz.

According to the authors, in this classic tale, Dickens through the protagonist, Scrooge’s revisiting his past, his present and glimpsing into his lonely future, introduces the idea of  beliefs about money that people hold. Often these beliefs are unconscious as was with Scrooge.

The genius of this easy read is an examination of A Christmas Carol through the lens of personal finance. In doing so, the authors identify Scrooge’s ten money beliefs. The problem with money beliefs is that often, they are untrue, unconscious and lead to unhealthy financial behaviour.

Scrooge’s Money Beliefs

You can’t trust anyone with your money.

People only want you for your money.

You must work hard for money.

You can never have enough money.

Don’t spend money on yourself or others

Money will give you meaning in life.

The more money you have, the happier you will be.

You can never be happy if you are poor.

Giving to the poor encourages laziness.

If you had more money, things would be better.

So what do you think? What are your money beliefs? How do your money beliefs affect your financial behaviour? Do you think there is anything that can be done about money beliefs?