We have so many conflicting beliefs about money. Unfortunately, some of these beliefs disempower us from achieving long-lasting happiness and financial success. In T. Harv Eker’s book, Secrets of the Millionaire’s Mind, he states that, “If you want to move to a higher level of life, you have to be willing to let go of some of your old ways of thinking and being and adopt new ones.”

Here are 5 limiting beliefs about money. I hope it will clear some of our misconceptions about money, and help us to assess if it’s high time we replace our old way of thinking with a newer and better perspective.


You can make the most out of life if you have moimage2re money. The only problem is when you are still unhappy despite of having lots of it.  So it is not really the money but the person himself who dictates his own happiness. Come to think of it, money can retire you from a stressful job.  It can send you and your family on a vacation, visit places you’ve never been to, start up a business, give more to charities, or pursue a passion. 

Money can buy you FREEDOM, not only the freedom to buy your wants but the freedom to do what you want with your TIME, and the OPPORTUNITY to invest in things that matter most to you. The more money you have, the more options you have, and the more control you have in many aspects of your life. Now, having your freedom and choices in life, who says money can’t make you happy?


This is a century-old old belief. In Timothy 6:10, the bible says, “Thelove for money is the root of all evil.” It’s not money per se but the “love” oimage3r “lust” for money that is evil.

In fact, in a broader context, we can say that it’s the “lack of money” that induces a person to do evil acts. For money is neither good nor evil. It depends on the values and purpose of the person using it.

For a breadwinner who uses the money to feed his family, or support the medical of his ageing parent, or to fund charities, we can say that money in the hands of a good person is good.  What about money in the hands of a person who intently uses it to illegal or dubious acts? You would probably say it is evil. 

Ergo, money is just a tool, a medium, a means to instigate our purpose and values. What better way to use it than to bless, help, love, and serve other people instead of using it to our own advantage or selfish motive.


It is two days shy of payday and you realize there’s nothing left in your wallet. What do you do? In a pressing financial situation, a typical working Pinoy will think of borrowing money from a colleague or relative instead of finding ways to increase his income. We were brought up to believe that borrowing money is the immediate and perhaps, the ultimate solution to our cash flow problem. It isn’t normal to incur debt for it could already be an early sign of insolvency. Debt is good if the benefits exceed its costs.  However, in today’s world of consumerism, people tend to buy more than what they can actually afford, focusing on status quo while ignoring the cost and long-term implication of paying interest. We should focus on the things that will make us “truly” wealthy, not on the ones that will make us “look” wealthy. Resolve to buy only the things that you need. Pay in cash as much as possible. If you can’t afford yet, better delay gratification than be trapped into debt.



“My parents are poor.  My grandparents are poor. My dogs are poor, too. I’ll be poor for the rest of my life. Just because you grew up in poverty doesn’t mean you’ll be poor forever. You have the power to create your future.Think about Henry Sy and Manny Villar who rose from poverty. Believe that your past does not, and will never define your future. Stop the blame, justification and complaining about your past and present situation. Better yet, resolve to become different than your forebear. My challenge to you: Stop Poverty in your Generation.


And poverty is? This is perhaps the reason why there are quite a number of religious people who remain poor. They have devoted their entire life in church ministry but neglected the other aspects of their life such as their finances, family, job and business. They have served the Lord all their life but why did they retire poor? The secret is living a balanced life.  While we have time for spiritual nourishment, make sure we get to spend quality time with our family, take care of our business, nurture relationship with other people, and make our finances grow.


There you have it – some limiting beliefs about money. “When you change the way you think about money, you can get the best out of life,” says in a TV commercial. True. It’s time to assess ourselves if we are still trapped in our old way of thinking or if we are now ready to embrace change. To change our life, particularly for our financial life to improve, we must change the way we think: Use money to buy you freedom and happiness.  Your purpose and values is what gives money its worth.  Avoid debt. Believe that you have the power to change your destiny – from being poor to wealthy. Live a Balanced Life. Let go of the limiting beliefs about money, and look forward to a wealthier and happier you!

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