1. Of Family, Friends, Social Contacts and
Your Finances
The family is considered the social unit of society. Most people were born in one and
the formation of one’s behavior, values, and character happen within its confines.
This is why the habits practiced and preached by the heads of the family are carried
by the younger ones and in turn are taught to the next generation.
Our ideas and beliefs about money are first formed by what we see and hear from
our parents. If you had been constantly given what you asked for—be it a toy, a
piece of clothing, or a new gadget—then the way you view money will be different
from one who grew up in an environment where a thing can only be earned if one
works hard for it. Parents are instrumental in shaping the money habits of their
children and it is crucial that the young be taught and shown such concepts as
savings and investments as early as possible.
Next to our family are our friends. Some of our closest are as valuable as our
families. We know this from our experiences with those special people we have
shared strong and unbreakable bonds with from elementary, high school, or even
college. Friendships that stand the test of time are those that we cherish the most.
Friends who have shared the milestones we have in life—birthdays, graduations,
weddings, births, even deaths—they are the ones that we can count on when times
get rough.
When we talk of friendships, we don’t normally equate them with making money.
However there is a very little known fact that all financially successful people share:
They maintained solid friendships and had a strong network of social contacts. The
saying “let me know who your friends are and I will tell you who you are” holds true
when it comes to success both in life and in finances. The analogy might not be so
obvious at first but when you get to dig deeper into the relationship of people and
finances, you will realize just how important they are in your quest for financial
stability.
In addition to your family and friends, you also get to interact with the people you
work with. The relationships you hold with your bosses and colleagues will also
determine just how far you will go in your career and in your financial life. Having

2. mentors or sponsors will certainly help you go up the leadership ladder which will
increase not only your earning capacity but your prestige as well.
The professional contacts you make outside your place of work will also have an
effect on your career growth. These include the networks you form in person as well
as those you make online through social media platforms. The wider your social
networks are the more connections you have. The question now is: How do your
family, friends, colleagues, and other contacts help improve your finances? That is
what we will discuss in the sections that follow.
Check out www.adamscapgroup.com for more Information on Guide to
Investments.
Other related info you might be interested in:
Developing a Personal Budget
Building Wealth: Slow and Steady Does It
Tips for Setting your Goals