The link between our mental health and our financial habits is a crucial yet often overlooked aspect, according to the founder of Māori Millionaire. Our mental well-being plays a pivotal role in how we manage our money, and it's time we shed light on this connection.
Te Kahukura Boynton, a 22-year-old business mentor, emphasizes the need to delve deeper into the reasons behind people's financial decisions. She highlights a prevalent narrative that encourages spending less and investing more, but questions why some individuals struggle to adopt these practices.
"There's a lot of judgment around personal finance decisions. People often hear, 'Just do better, behave better,' without considering the underlying causes. This is where the conversation needs to shift," Boynton asserts. Her own journey, marked by mental health challenges, drug addiction, and binge eating, underscores the importance of understanding the 'whys' behind financial behaviors.
Boynton believes that these 'whys' are the key to unlocking better financial management for many New Zealanders. When asked about cultural influences, she emphasizes the impact of associating money with stress, shame, or scarcity. "If money is linked to negative emotions, it becomes a taboo topic. People either avoid discussing it or become overly anxious about it. Raising awareness about these 'money personalities' is crucial for making informed choices," she explains.
She further highlights the complexity surrounding financial literacy, stating, "It's mind-boggling how overcomplicated it's made to be." Boynton's mission is to simplify financial education and bridge the wealth gap. Through her social media platforms, Instagram, and TikTok, she reaches over 70,000 followers, offering accessible content to help young adults grow their wealth.
Her debut book, Māori Millionaire, and the recent launch of her podcast series, How We Money, in partnership with ANZ, further solidify her commitment to this cause. "I'm not here to preach; I've made my fair share of mistakes. I want to encourage people to take control of their finances and ask, 'What can we do differently today?'" Boynton concludes.
And here's where it gets interesting: How do you think culture and personal experiences influence our relationship with money? Do you agree that simplifying financial literacy is the key to financial empowerment? Share your thoughts in the comments; let's spark a conversation!
