It is so important to understand your relationship with money. Money is a huge part of our everyday lives. It is even more important that you understand this relationship if you are starting your own business. A huge percentage of start-up businesses fail within the first few years because their owners didn't handle the money correctly. If you want your business to succeed, you must understand your relationship with money.

So, how do you examine your relationship with money? Start with an exercise that you probably did a lot in elementary school. Get a piece of paper. Start the clock and write for 15 minutes. Write anything and everything you can about money. Write down whatever pops into your head. This is a great exercise to get your thinking in the right direction. Here are some helpful questions that you can answer:

-What was your family's financial situation when you were growing up?

-Were you richer or poorer than your friends?

-Were you able to discuss financial matters with your parents when you were younger?

-Can you talk about money with your parents now?

-How did your parents handle money?

-Which parents worked?

-At what age did you get your first job?

-How and where did you learn to handle money?

-How did you pay for college?

These are very helpful questions to ask yourself. You can easily answer these questions. If you haven't learned how to handle money yet, you need a crash course immediately. Often times, your bank or credit union will offer free money management seminars. Take a look at your own money management techniques. Do they need some revamping? Before starting your business, understand your relationship with money. If it needs fixing, take time to fix it now before your business and livelihood is on the line.