3 Wrong Beliefs About Money You Need To Remove If You Want To Be Wealthy

Sometimes, the biggest enemy holding us back from being wealthy is not what we think it is. We might like to think that inflation is working against us, our pay is insufficient or even believe that the government is out to do us in.

What if I told you that the answer lies in the belief system we hold towards money?

Just like how a child growing up with verbally abusive parents would have a higher chance of suffering from low esteem issues, allowing ourselves to grow up with negative beliefs about money would put us at higher risk of suffering from low bank balance!

As with all wrong beliefs, change first starts with acknowledging the mistakes. Here are 4 wrong beliefs about money you need to remove if you want to be wealthy

1) “The Love Of Money Is The Root Of All Evil”

I’m sure most of us heard of the cliché preceding this version – “Money is the root of all evil.” Somewhere along the line, someone probably realized that money is a neutral item and it certainly cannot be evil.

So, they decided to change the focus to the underlying motivations and thus it became that the love of money is the root of all evil.

The most dangerous lies aren’t the obvious ones, but the half truths.

The love of money is completely healthy and acceptable. In fact, it should be encouraged! After all, how do you gather more of something which you hate? None of us are going to torture ourselves that way!

If you agree that the love of money is evil and you end up hating money as much as you hate evil (since we all hate evil), how is it ever possible for you to become wealthy when you hate holding on to the very thing that makes you wealthy?

Even if you suddenly strike it rich by winning the Changi Millionaire Lucky Draw, you are probably going to feel guilty about winning it!

The love of money is not inherently evil. Just like how the love of exercise, the love of your spouse of the love of football is not evil… when they are pursued within reasonable limits.

If an exercise fanatic ruins his own body by overly pursuing his fitness regime, shall we then consider the love of exercise as a form of evil? Or if a football fanatic turns violent when supporting his favorite team, should be than consider the love of football as a form of evil? I could go on… but I guess you get my point!

The love of money or anything else for that matter is not evil… as long as they are pursued within reasonable limits!

In fact if you really want to be wealthy, you should have a healthy love for money – it’s the only way you are going to be getting more of it!

2) “People With Money Are Greedy” Or “It’s Not Spiritual To Have Money”

This is bound to be another one of those statements that are frequently thrown around while we were young. To be honest, it’s usually used by poor people to justify their current financial state. There is nothing noble about being poor or choosing to stay poor.

Everyone knows if you want to do something good for the society or if you want to change the world, you are going to require money.

It’s a fact that all non-governmental organization (NGOs) and voluntary welfare organizations (VWOs) require money for their day to day operations.

That is why the more money you have, the more people you can afford to help!

While there’s absolutely nothing wrong with being poor, (not forgetting that many great men started off being poor); we have no excuse to stay poor if we want to make a positive change in this world.

Staying poor does not put you in a position to help anyone, because it takes money to help people… and it takes a lot of money to help a lot of people!  If you really want help many people, then do the world a favor:

Make it a point to be EXTREMELY RICH! As rich as possible… so that you can help as many as possible!

3) “I’m Not Good With Money” Or “Someone Will Take Care Of It For Me”

Well Sherlock, I have news for you… no one is born with the natural ability to handle money!

Every wealth investor you know started off prioritizing their own education, financial education to be exact. To believe that you’re not good with money assumes that you are unable to learn new things, which is obviously not true!

As a result, those people who believe that they are not good with money naturally go to make the next logical leap – they entrust their money in the hands of other, may it be their spouse, their fund manager or their financial planner.

This is so that when things go wrong, they have someone to blame instead of looking at the person in the mirror! Allowing someone to take care of your money is the lazy man’s approach and we all know that lazy people do not become wealthy!

The truth is that no one is naturally good with money. To be wealthy, it requires you to invest in your financial education, to be constantly learning and reeducating yourself.

If you don’t teach yourself how to comfortably manage your money or invest your money, your money will end up in the hands of those who are comfortable with it!

So choose to start investing in your financial education by going for invest courses and attending financial seminars. You cannot afford not to… literally!

Image Credits: images.businessweek.com

What type of erroneous beliefs have you heard while growing up?

Share with us in the comments below!

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