As part of being human, we have money-limiting beliefs already in our consciousness. Sometimes, we learn them from our family, friends, or society when we are younger. If you want a healthy relationship with money, you must confront your limiting beliefs and let them go. That is the key to realizing the abundance mindset. Below are some of the more common myths we subscribe to:
- Making money requires hard work
- It takes money to make money
- It will take a lot of time to acquire money
- Desiring more cash means you are greedy
- Rich people are greedy
- Money is scarce
- My money situation depends on the economy
- I can only get money from my job
- I don’t have enough skills or education
- I’m too old or young
- I don’t deserve more money
- Someone else is holding me back
- I’ve not managed money well in the past
- I have bad luck; rich people are lucky
- People will not like me if I am rich
- Money is the Root of all Evil
Let’s look at each one of these beliefs in turn.
Making money requires hard work.
False. How do you define “hard work”? Mostly, it has a negative connotation. In the Bible, Adam is told by God, “In the sweat of thy face shalt thou eat bread, till thou return unto the ground.” If you take that passage literally, it says everything we need to know about “hard work.” But is that our fate? Or is that an instructional parable? Look around you. There are many Adams, but a select group does what they love and loves what they do. Many famous rock musicians perform well into their 80s, long past any financial need. They have found something that you want. It is not talent or luck; it is passion and love. Even if you were to look at accountants, some have a passion for what they do and are successful beyond your wildest dreams. You can have that passion, too! Pick something to do that inspires passion or find more love for your current work.
It takes money to make money.
Not true. If you acquire an education in finance, you will learn that “capital is king.” In reality, divinely inspired ideas are the most valuable currency of business. You can access these ideas by quieting your mind and waiting for inspiration. Intellectual capital, often called knowledge, skills, and expertise, holds a unique and enduring value that surpasses mere financial wealth. Money can open doors and create opportunities, but intellectual capital fuels innovation drives progress, and generates wealth. The people with knowledge invent groundbreaking technologies, pioneer innovative solutions, and build thriving businesses. Intellectual capital enables individuals and organizations to adapt to changing circumstances, solve complex problems, and create sustainable success. In today’s knowledge-based economy, where information and innovation are paramount, those with valuable intellectual capital are the ones who indeed hold the keys to long-term prosperity and influence. Money may come and go, but the wealth of knowledge endures, making it a priceless asset in the modern world.
It will take a lot of time to acquire money.
That is not necessarily true. The amount of time needed to manifest money is directly related to how free your mind is from negative beliefs. You will probably be correct if you believe manifesting money will take a long time; it will be a self-fulfilling prophecy.
Desiring more money means you are greedy.
Not true. Greed means obsession with money and willingness to do anything to get it. There is nothing wrong with a healthy desire to prosper. It becomes unhealthy when fear and obsession enter the picture. If you are reading this, you probably don’t deserve the “greedy” label.
Rich people are greedy.
That is not generally true. Some rich people are cheap, and some poor people are mean. Most rich people are not greedy. Having more money to do good things is not being greedy.
Money is scarce.
False. The amount of cash printed in the United States is staggering, reflecting the immense scale of the U.S. economy and its financial transactions. The Federal Reserve, responsible for managing the nation’s money supply, prints billions annually. The exact amount varies yearly depending on economic conditions and demand for physical currency. Still, it’s not uncommon for the U.S. Bureau of Engraving and Printing to produce hundreds of billions of dollars in new banknotes. While most financial transactions nowadays occur digitally, the demand for cash persists, particularly for everyday transactions, emergencies, and as a store of value. This continuous production of money is essential to ensuring the smooth functioning of the U.S. economy.
My money situation depends on the economy.
False. The Great Depression was a time of immense economic hardship, yet it also bore witness to the resilience and ingenuity of several individuals who managed to amass significant wealth. Some millionaires emerged during this period by seizing opportunities that arose amidst the economic turmoil. These individuals often had a keen eye for undervalued assets, whether in the stock market or distressed real estate. For instance, J. Paul Getty, who would later become one of the world’s wealthiest individuals, acquired struggling oil companies at rock-bottom prices during the Depression. Similarly, an aviation and film magnate, Howard Hughes, capitalized on the depressed aircraft market. These stories serve as reminders that even in the bleakest of times, shrewd investors and visionary entrepreneurs can find ways to turn adversity into prosperity.
I can only get money from my job.
False, your money comes through your job, not from it. Release any limiting beliefs about your situation. Do what you love or love what you do. Money can flow from any unexpected place.
I don’t have the skills and education.
What a weak excuse. You can get the skills and knowledge you need to succeed at your own pace. Don’t listen to the limitations that “they” place upon you. Set your course.
I am too old or young.
Very much false. There is no age limit on creativity, ideas, and abundance. Harland Sanders, widely known as Colonel Sanders, is a remarkable testament to the notion that success knows no age limits. It was at the age of 65, after a lifetime of ups and downs, that he launched Kentucky Fried Chicken (KFC), a brand that would become synonymous with fast food around the world. Colonel Sanders had faced numerous failures and setbacks throughout his life, from failed businesses to job losses, before perfecting his fried chicken recipe and taking it on the road to convince restaurants to use it. His relentless determination and unwavering belief in his product paid off, as KFC became a global sensation and an icon of entrepreneurial success, proving that age is but a number when it comes to achieving one’s dreams. Colonel Sanders inspires anyone who thinks they might be “too old” to pursue their passions or embark on new ventures.
Someone else is holding me back.
Do you want to know who is holding you back? Look in the mirror! Check your belief systems to see where you feel like a victim of the people around you. Change yourself before you change out the people in your life; otherwise, you will end up with more of the same. No one should stay in an abusive relationship, of course, but be honest with yourself about your role in the relationship.
I’ve not managed money well, so I don’t deserve it now.
The past is gone; you cannot let it define who you are right now. Make an intention to be a wise and frugal money manager in the present moment. Forgive yourself for any past errors or flaws in your thinking.
I have bad luck; rich people are lucky.
Again, false. Luck does not play a part in what you attract in life. If you zoom in on individual events, some may be due to the luck of the draw. But if you look at the big picture of your life, luck is not the most critical factor in your results. Your thoughts and beliefs are the keys to your results.
People will not like me if I am rich.
This statement is a false premise. Whether people like you or dislike you is dependent on their limited perceptions. It is not your problem. If you are rich, you must learn to say no to others. Is that a bad thing? No.
Money is the Root of All Evil.
As a versatile and essential tool, money can be harnessed for numerous positive purposes. It facilitates economic growth by enabling investments in businesses and infrastructure, creating jobs, and fostering innovation. Money also provides access to education and healthcare, empowering individuals to improve their lives and well-being. It can be used for philanthropy, helping those in need, and supporting charitable causes. Additionally, money allows for the enjoyment of experiences, travel, and leisure activities that enhance one’s quality of life. Moreover, it can be saved and invested to secure financial stability, retire comfortably, or leave a legacy for future generations. When used judiciously and ethically, money becomes a force for positive change and personal fulfillment, enhancing opportunities and improving the overall standard of living.
I hope that you have found an exploration of these myths to be valuable in changing your thinking and beliefs. Remember, it all starts with you!
