WE ALL WANT IT…
Everyone would love to be rich. To make more money and travel and be financially free. What we know about money determines how much of it we attract to ourselves.
Money is what everyone usually has one or two things to say about. As a result, just like every general subject matter, there are misconceptions/heresies/myths/lies/half-truths being peddled around about money. Many of which you religiously hold on to.
Below are a few of such conventional money lies that you were told and probably believe.
1. Wanting More Money Makes You Greedy
Many believe that wanting more money is WRONG. Hence, to them, the desire to make more money is defined as GREED. Unfortunately, money does not come to those who do not want it. You’d have money to the degree you desire it. So, to be RICH, you’d have to be “GREEDY”! YES, the rich are “greedy”. It takes a certain level of “greed” to be wealthy.
Picture this: you are a man with a house of your own and a good-paying job. You are pursuing a career of your choice. Also, you have enough to eat and to drink. You can afford to vacate frequently but you are not a MILLIONAIRE yet and you desire to be. Isn’t it greed to want more after you have enough? It is, right? But in this case, it is good greed. You have to be greedy to some extent to be rich; to pursue after certain financial goals. The rich get richer because they look for more ways to be richer. In other words, they weere GREEDY.
2. Investing Is For The Rich
Remember I just wrote that “the rich get richer because they look for more ways to be richer.” Well, investing is one of those ways. Investing is for THOSE who want to CREATE WEALTH. The RICH knows this. You can’t be financially free without investments. If you are waiting to be rich before you start investing, you’ll never be rich!
3. I Need To Be Lucky
“I need to be lucky because money is based on luck.” No, no, no!
An instance, there is this boy in your class who doesn’t read so much but he gets all A’s every time. Will you call that boy lucky? Yes, we’d say such a person is lucky. Whereas, this same boy reads every 2 am to 5 am, every day. He studied HARD!
Bishop Oyedepo, one of the wealthiest Nigeria Preachers, says that;
If you are as WORKY as I am, then you’ll be as LUCKY as I am.
Bishop David Oyedepo
LUCK is a FUNCTION of HARD WORK, SMART WORK, PERSISTENCE, VISION and RESOURCEFULNESS combined.
Now you understand why the RICH are LUCKY! ALWAYS LUCKY!
4. I Have To Save More To Be Rich
First of all, savings can not make you rich. It is a great financial practice to save. But do not save in hopes of getting rich. We all know how bank interests work these days. The little tens of naira here and there that is added to your deposit would not, and CAN NEVER make you a rich man! So NO! you don’t need to save more to be rich. You need to invest more. Savings are good for emergencies and retirement, and as a starting point, but definitely not enough for WEALTH CREATION.
5. Money Will Change Who I Am
“Money will make me bad or proud or evil or greedy or rude…”
Will it though? No, it will not. Money doesn’t change people. People are who they are, not who money made them become. Just think about it, can money really change someone or does it just reveal who they already are. The rich man’s life is more open than the poor man’s. So you see a rich man who is immoral and proud, you feel like you should not be rich because you don’t want to end up like him. If you are not immoral and proud already, you won’t be when you are rich. It is that simple.
On the other hand, if you’re a good person to the core… MONEY WILL AMPLIFY that GOODNESS in YOU, not suppress it!
6. Money Is Just A Currency
Money is not a currency, never has, never will be. Money is a generally accepted means of exchange that is given to reward value. Hence, Money is a commodity, not a currency. Which means money will never lose value. It will merely evolve. From “yam for rice” exchange to “paper currency for goods and services” and we are seeing paper currency give way for digital currency gradually. I hope you get the picture. Money will always be there with its relevance intact. So if you are not bothered about your finances then you’d lose. If you are underrating money, you’d soon be surprised to realize money is really not going to go away.
7. Money Is Not Enough
Like I said, money is not going to go away. It will keep evolving and evolving. Which means there is always going to be enough money. Money is not secluded to a tribe or a race. When people spend money, they pay for value. There is always going to be goods to sell and services to render, hence there is always going to be enough money. The distribution may fluctuate but money can not get exhausted.
8. I Don’t Need A Passive Income
Yeah, it is true that you don’t really need passive income to live a comfortable, or maybe, rich life.
It is FALSE, however, to believe that you can be financially free WITHOUT passive income. There is no Financial FREEDOM without A continuous flow of PASSIVE INCOME stream.
Passive Income is income made without doing any active work. It is the kind of money you make while sleeping. The kind Bill Gates, Jeff Bezos, Mark Zuckerberg etc. make every second, without having to do any work to get it. The kind you make from active investments and businesses working for you. That is how you gain financial freedom. Increase the amount of passive income you make.
9. All Debts Are Bad
Most people do not know that debt can be a useful tool. There are GOOD Debts. There are also BAD Debts. Debts accrued for things that do not bring money to your pocket, in other words, liabilities and doodads, are BAD! While Debts accrued to acquire assets, things that bring in more money, e.g. businesses, investments etc are GOOD, VERY GOOD!
To build his new refinery, Dangote accrued BILLIONS OF NAIRA OF DEBTS, GOOD DEBTS! As a matter of fact, the banks were “queuing” to HAPPILY LEND Dangote MONEY to build his refinery. INTERESTING!
That’s all I would like to share for now… there are still many more lies we were all told about money.
I believe you know some too. I’d be looking forward to read them in the comment section.