By: Jasmine York, contributing writer (@jasmineyorkthewriter)

A study done by the Citizen’s Financial Group reveals that about 70% of former students worry that they don’t have the necessary financial background to manage their current debt. These results can possibly explain why credit card and student loan debt is at an all-time high. However, does a person’s past hold the key to their financial future? The answer is perhaps. Here’s why.

If you grew up with the poverty mindset that money is hard to come by or if you grew up seeing that you can easily be handed things you haven’t earned, then you probably won’t associate work ethic with fortune. However, that can be detrimental. Ultimately the health of your financial future heavily relies not only on how you use money, but how you view it as well.

A shift in your mentality can easily help shape your financial future for the better regardless of your past. You can begin changing your mentality through financial education and adjusting the way you interact with money. The truth is when it comes to money you can be one or two things: a producer or a consumer. Rather than being primarily a consumer, get creative in the various ways you can produce money to support your desired lifestyle rather than taking on debt.

Simply put, people do what they’re taught. If you want to take control of where you’re heading financially, examine your past, don’t be afraid to take necessary action, change your money mindset if necessary, and apply new strategies you learn to improve your financial future today.