“Our beliefs came about because they supported us in one point in our lives”

The Grid: Caroline, you talk about how our feelings towards money or our ‘money mindset’ may hinder us or set us free.

Caroline DomanskaYour ‘money mindset’ or your ‘money why’ is the reason you get up for work every day. It’s the reason that you strive to make a living. It is also perhaps the reason that you’re not getting that promotion that you so desperately want. It may well be the reason that, despite the fact that you’ve got a great business idea, it’s still staying in your head and you’re just plodding along and getting paid to work on somebody else’s dream.

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“For every action in life there is a reaction, our countries are still heavily in debt that’s why taxes rise.”

The Grid: Being based in Dubai, most of your expatriate clients hail from the United Kingdom however there are universal issues that face anyone living away from home over a certain period. What are the top three long-term monetary concerns that expatriates most often seek counsel on?

Paul Sharman: The current climate affects all expatriates no matter where you’re from, if the UK has a financial issue there is only so much money in the world and each problem has a knock-on effect worldwide. 90% of my time is spent helping clients to secure failing pensions to stop losing more money, this is the hottest topic, based on excessive loss and way more to come. (more…)

November 4, 2016

Afraid of Being Poor

“It’s feeling that money can’t be created again in a way”

The Grid: Caroline, what is usually the biggest concern, or let’s say, fear that when you see a client that the issue of money brings about? Is it the issue that people are afraid to lose money and be poor? A psychological barrier of people taking the initiative to embark on an endeavor or start a business, for instance? The fear that if I lose money what would happen to me? Where would I be? Is it going to ruin my life? I mean, is this usually the biggest factor for people or is it something else you see?

Caroline Domanska It’s feeling that money can’t be created again in a way and that you are going to make the wrong decisions. And, I think that comes down to sense of worth around your own abilities actually.

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“Our current level of income, savings, assets and debt are all a result of decisions that we have made” 

The Grid:One of the core themes of our recent event ‘Finding Financial Clarity’ was that one great fear we all have is that our income is stagnating.

Caroline Domanska So, let me ask you. Is your income on cruise control? When we talk about that, we talk about perhaps income ceilings that we have based around what we could be worth; what our abilities are and how much we should be paid. (more…)

“She sees savings and her level of savings as a symbol of her success”

The Grid:  Caroline, you talk about how our beliefs impact our relationship with money. Could you tell us more about the psychology of spending, saving, investing, etc?

Caroline Domanska: Ever since we became aware of money we’ve created beliefs around them. Beliefs that are sometimes positive but, in my experience, are often negative and often come with a bit of a dose of money shame unfortunately. We hold limiting beliefs, such as money is the root of all evil or it’s greedy to want more money or you have to work far too hard to be successful and I would have to give up too many things.

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