Day 10 of 12 Days of Giving: A Raw Conversation About Money, Family, and Healing

Have you ever sat in silence, wondering how to ask a family member to repay money they borrowed? Or felt the weight of shame when needing to borrow from relatives? You're not alone. In this powerful episode of our 12 Days of Giving series, Dr. Preston Cherry (Twitter | Instagram) shares a story that will resonate with anyone who's ever navigated the complex world of family finances.

The Night That Changed Everything

Picture this: A young boy sits in an old Chevy truck on a rainy night, watching his father collect a debt from a family member. This wasn't just any memory for Dr. Cherry - it was his first money memory, one that would shape his entire approach to financial relationships. Sound familiar? Many of us have similar stories that unconsciously guide our financial decisions today.

Understanding Your Money Story

Dr. Cherry introduces us to a powerful framework that can help us understand our relationship with money. He calls it the Three B's:

1. Barriers: Past experiences that hold us back

2. Boosts: Positive lessons that push us forward

3. Boundaries: Healthy limits we set to protect relationships

Want to dive deeper into your money story? Join our Power Hour where we explore these concepts in detail.

The Contract Solution

One of the most practical takeaways from Dr. Cherry's story (Follow him on Facebook) is his father's insistence on written contracts - even for small amounts. This simple practice teaches:

• Clear communication

• Responsibility

• Basic interest concepts

• The importance of keeping promises

When Money Threatens Relationships

Here's a hard truth: money issues can destroy family bonds. But Dr. Cherry (Connect on LinkedIn) offers a solution: open communication. Instead of ghosting someone about money owed, have honest conversations about:

• Payment difficulties

• Timeline adjustments

• Alternative solutions

• Mutual understanding

The Power of Saying No

Need help saying no to money requests? Dr. Cherry (Watch his TikTok tips) shares this powerful script:

"I thank you for coming to me and letting me know about it. Right now, I'm handling my business and need every cent. If I'm in a better position later, I'll consider it. Right now, I'm on a similar journey as you."

When to Let Go

Sometimes, preserving a relationship means "charging it to the game." But before you write off a debt, ask yourself:

1. Is this a one-time situation?

2. Does this person respect my boundaries?

3. Is the relationship worth more than the money?

4. What lessons can I learn from this?

Moving Forward

Breaking generational money patterns isn't easy, but it's possible. Start by:

1. Acknowledging your money story

2. Setting clear boundaries

3. Using written agreements

4. Maintaining open communication

5. Seeking professional guidance when needed

Your Next Steps

Ready to transform your relationship with money? Here's what you can do today:

1. Write down your earliest money memory

2. Identify your financial boundaries

3. Practice the "saying no" script

4. Schedule honest money conversations

5. Book a Power Hour session to dive deeper

Remember, your money story doesn't have to define your financial future. As Dr. Cherry shows us, even difficult money memories can become powerful tools for growth and change.

Stay tuned for tomorrow's episode in our 12 Days of Giving series, where we'll explore another fascinating aspect of personal finance and generational wealth building.

Want to share your money story? Drop a comment below or join the conversation on our social media channels.