This is a subject I am so passionate about! Why? Because wherever I look these teachings are still coming through thick and fast. With the world changing at a pace it is, I feel alarmed that such out dated messages plague our children’s mind.
And the message is: poverty.
We are keep being bombarded that we need to spend more to be more. That we will miss out if we don’t act now. That there is just not enough to go around. And that without a job we cannot make it. All these messages portray a lack mindset! And there are plenty of them going around, so let me focus on the 5 major misconceptions that we have been taught.
#1 – Wealth = money
Wealth does not equal the large income. In fact I have spoken to plenty people that are considered to be wealthy and they each tell that it is not about the money.
Wealth is about relationships, health, lifestyle, contributions and money. Yes there are people that have made millions and we may consider that they are saying that money is not important because they have it. However I have met others that do not have the lavish lifestyle and the fame, yet have the freedom and lifestyle doing the things they love, funded by passive income, and they are considered just as wealthy as others.
So put money aside, are you wealthy in your relationship, health, lifestyle, freedom, contribution? If you are seeking riches by trying to make money alone, you will fail as money alone is not a strong enough driver to keep you going long enough to become wealthy.
# 2 – Money is a control system
You can test how strongly you are attached to this belief by taking a $5 note out of your wallet and throwing it out the car window. No I am not crazy! There are plenty other ways you throw away $5, so try the exercise and see the flow of emotions that come to you.
Until you can let go of that $5, it’ll own you! Until you can release the emotions and the need to want to hold onto it, you’ll be it’s slave.
Money is no more that a means of exchange. Money only has an intrinsic value, because you and me agree that the piece of plastic saying $50, is worth that much.
It represents the time it took you to get it, the compromises you made, time away from your family, as such we are emotionally attached.
When really money is just there to keep score on how well you do in life. This is why I encourage people to focus on the big picture and not on the money.
Money as such can decline in value overnight. Have a look at Germany before World War II. Or Zimbabwe a bit more recently, in both of these cases the currency collapsed and people were taking wheelbarrows full of the stuff just to get bread. Would you really want to be controlled by something so flimsy?
#3 – There is never enough
Our beliefs around money form before the age of 7. When you think about it, we make our mind up about money and wealth before we even know what it is!
With messages like
- Money doesn’t grow on trees!
- You have to work hard for your money!
- We can’t afford it!
- Money is filthy
Or even the other messages when you were told that wealthy people
- Must have gotten lucky to get there!
- Or that they are in some way shifty to be wealthy.
With so much negativity no wonder that we learn to repel money! Who would want to be associated with being shifty?
And if the programmed beliefs weren’t enough already! Just look at any commercial to find that it is all about lack.
#4 – You have to work hard for money
The main mistake people make when thinking of a plan to achieve their wealth goals is thinking of ways as to how they can exchange time for money.
That is not going to create wealth in your life! It is a very limited option! There are only one of you and so many hours in a day. Having a job is also not a life time plan these days with a lot of them becoming redundant either by automation or due to no longer being relevant. Not to mention that employers will only pay so much for your time.
If you want to create wealth you need to find ways to make money work for you. You want passive income, the kind that comes to you even when you sleep. This can be achieved in certain businesses, joint ventures or investments. Open yourself up to the opportunities.
The best case scenario is that your passive income covers your lifestyle, then you are free to decide whether or not you want to work.
#5 – Your Financial outcome is defined by your circumstances
I know I fell in this trap for a while when I was a single mum. I was trying to get ahead in a career, yet was struggling to make ends meet. Now I could have given into them and accept the statistics that I will be below poverty line. Or I could choose to not be a statistic and instead create a plan to make a difference.
You may not be in the best situation right now. You may feel like you are not getting ahead. But keep at it. If you have a vision to be great don’t let nay sayers hold you back!
It won’t be easy, but it is well worth it!
If you were to bust at least one of these myths for you, which would it be and why?