One of the striking differences between the rich and the poor is their beliefs about money. Almost everywhere you go, you find popular money myths (misconceptions about money) that affect the way people in that area relate to money.
While it is true that money is not the most important thing life. However, it is also true that the most important things of life are actually enjoyed and maintained with money!
Throughout this post, I will be showing you popular money myths that have limited a lot of people from reaching their full potentials by creating roadblocks in their minds. Read on!
Before going further with the list of some of the most popular money myths in the world, here is what I mean by the term “money myths”.
Simply put, “money myths” are popular misconceptions or beliefs about money that people have held strongly to, over the years.
One thing about what people believes about money is that it goes a long way to determine how they are going to go through life -barely surviving or truly living.
While some of these money myths are not as popular as others, they sure do have strong effects on the people.
So what these popular myths or misconceptions about money? Number 7 is the most popular and most devastating of all money myths in the world but lets get started with the first.
Money Myth #1. Money Is The Root Of All Evil
Truth: This particularly belief is very popular among religious folks. When people -Christians especially- say this, they often quote a portion of the Bible to back up their claims. But a closer look at that same verse of the Bible will show you that the Bible never said money is the root of all evil.
It is just a misconception. Lets see it for ourselves.
1Ti 6:10KJV “For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.”
Take note of the highlighted words, “for the love of” and “coveted”. I’m sure it is making more sense now. It is not money that is evil itself but the love that people have towards.
Money is what makes the world go round, pays the bills and keeps food on the table. How can something like that be termed “evil”?
Money Myth #2. The Harder You Work The More Money You Make
Truth: While it is true that it pays to work hard, it is also false to believe that hardwork is all you need to make more money. It’s not.
The world is filled with several hardworkers who barely eats 3 times a day. I mean real hardworkers struggling to survive.
Some wake up very early and go to bed very late just to show how hardworking they are. Yet at the end of the day, they have nothing to show for it.
Money does not answer to muscles. If it does, weightlifters and wrestlers will be the richest people in the world.
Money answers to principles, smart financial principles.
Money Myth #3. Money Makes People Proud And Arrogant
Truth: While it is true that several rich people are proud and very arrogant, it is also not true to lay these attitudes of theirs on money.
Every person who seems to have developed pride and arrogance overnight after they became rich has always had those attitudes. They just never find expression in them until the money came.
It wasn’t money that changed them, they have always been proud and arrogant from the beginning. Look closely! Money only revealed who they always have been.
Money Myth #4. Cut Your Expenses And You Will End Up Rich
Truth: You don’t become rich by cutting your expenses. You can tie yourself down with strong rules limiting how you spend your money, the only good that will do you is that you will end up not getting anything that your heart truly yearns for.
Instead of cutting your expenses as a means to become rich, focus on increasing your income. This is where investing your money wisely comes in. Once your income is increased, you can always buy whatever you want, whenever you want and still have something big enough to fall back on.
That is what the rich people do.
Money Myth #5. Money Making Always Involves A Lot Of Risks
Truth: While the above statement is true about money making, it is not always true. Money making does involves some sort of risks but not always a lot of risks.
There are good risks and bad risks when it comes to making money. For instance, selling all your property and using the money for gambling (lotto, sports betting and the likes) is not a good risk at all. It is actually a very bad one. It’s simply not worth it.
Money Myth #6. Every Rich Young Lady Is Either Sleeping Around For Money Or Has A Particular “Sugar Daddy” Who Supplies All Her Needs
Truth: If every rich young lady out there is making her money by sleeping around, then why aren’t all the prostitutes in the world rich people.
I mean in real life, you can count up to 100 richest ladies in the world and not one of them is a recognised prostitute. Even in countries where the act is legal.
It’s actually harsh to conclude every rich woman out there to have moral issues without going close to them.
Money Myth #7. It Is Better To Be Poor Than To Be Rich (Like Saying, “There Is Something Beautiful Glorious About Being Poor”)
Truth: Most folks who often make these kind of statements have either not really “tasted” poverty or have an idea what it really means to be rich.
Like seriously, tell me just one good thing about being poor. Just one good thing about poverty, and I will tell 100 good reasons why you should be rich and living in abundance.
I don’t always get it, what is it about poverty that people spend so much time and energy glorifying it?
It is true that the goal of life is not to have money. But having money sure helps us achieve whatever that goal is.
I have seen the lack of money cause starvation of children, homelessness, crimes, injustice, deaths and so many other evils in the world, insomuch that nothing can make me buy the idea that it is better to be poor than to be rich.
Our human mind is so powerful that whatever you feed it determines how productive your whole life will be. These and many more are some of the misconceptions people have about money that affects almost everything about their lives.
Instead buying into these popular beliefs or money myths, feed your mind with the truths about money instead and watch how better off your life will be.
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I will be available to take questions or reply comments if you have any. Just drop them in the comment section below.