Bay State Bank’s Lauren Piehl Discusses How “Money Stories” Shape Financial Decisions

“Just kind of changing up the mindset a little to have a confidence versus being scared or stressed or having fear.”

By-Hank Stolz

Worcester, MA- Lauren Piehl of Bay State Bank recently joined Radio Worcester to talk about financial empowerment and the often-unseen influence of what she calls “money stories.”

Piehl explained that many of the financial choices people make are unconsciously shaped by narratives about money that originate in childhood. These stories are formed through what people hear and observe growing up, and can significantly influence how they approach saving, spending, and credit as adults.

Common negative beliefs such as “money is stressful,” “I’m bad with money,” or “credit cards are terrible” can become internalized at an early age, Piehl said, shaping financial habits later in life.

She encouraged individuals to reframe their mindset around money by reconsidering the language they use when making financial decisions.

“Maybe instead of how we handle things like, ‘Oh, I can’t afford that,’ or ‘It’s not a good time for me,’ we can reshape it to say, ‘Okay, well if I really want this, how is that going to affect the rest of my finances throughout the month?’” Piehl said.

She added that even small mindset shifts can make a meaningful difference.

“Just kind of changing up the mindset a little to have a confidence versus being scared or stressed or having fear surrounding money and all of those types of things,” Piehl said.