5 LIMITING BELIEFS ABOUT MONEY

 

Is money the root of all evil? Can it buy happiness?

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.”  Unfortunately, some of our beliefs about money disempower us from achieving long-lasting happiness and financial success. Please read on.

MONEY CANNOT BUY HAPPINESS

But you can make the most out of life if you have mo

re money! Come to think of it, money can retire you from a stressful job (and a demanding boss!). It can send you and your family on a grand vacation, start up a business or even charities, and it can help you pursue a passion without really having to work on an 8-5 basis.

Money can buy you FREEDOM. When you have money, you will have plenty of TIME to do what you want. In addition, money can give you OPPORTUNITY to invest in things that matter most to you. Therefore, the more money you have, the more options you have. So, who says money cannot make you happy? 

MONEY IS THE ROOT OF ALL EVIL

This is a century-old old belief! In Timothy 6:10, the bible says, “The love for money is the root of all evil.” What is being referred to as the root of evil is not money per se but the “love” or “lust”, or the “lack” of it is what induces a person to do evil acts.

A person’s money being utilized to feed for his family, or to support the medical expenses of his aging parent, or to fund his charities, is of good value. What about money in the hands of people who intently use it to illegal or dubious acts? You can use money to bless, help, and serve other people, or you can make use of it for the wrong reasons.

For money is neither good nor evil. It all depends on the core values and purpose of the person utilizing it.

IT IS “NORMAL” TO INCUR DEBTS

In a pressing financial situation, wouldn’t a typical working Pinoy think of applying for a loan or borrowing money from a colleague or relatives instead of finding ways to increase his income?

We grew up believing that borrowing money is just normal and common amongst us. Loans have become an immediate and ultimate solution for people with cash flow problem

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. Similarly, they focus more on status quo while ignoring the implication of paying interest and potential insolvency.

A simple but effective way to consider is, if you cannot afford it yet, do not buy it. Focus on the things that will make us “truly”wealthy, not on the things that will make us “look” wealthy.                            

POVERTY IS A CURSE.

“My parents are poor. I have grandparents who are poor. My dogs are poor, too. I’ll be poor for the rest of my life.” You are not cursed.  Just because you grew up in poverty does not mean you cannot be wealthy. What about the rags-to-riches stories we have heard of Henry Sy and Manny Villar? Bill Gates was once quoted that it is not our mistake if we were born poor but, if we die poor then we owe the mistake. We all have the power to create our future. Therefore, stop the blame – justifying and complaining about your past or present situation. Do not be burdened by your forebear’s struggles; use it instead to motivate you to strive harder and to stop poverty in your generation.

MONEY IS NOT HOLY.

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 do they still retire poor? The secret is living a balanced life.  While we have time for spiritual nourishment, it is also important that we get to spend quality time with our family, be able to take care of our business, nurture relationship with other people, and make our finances grow.

There you have it – some limiting beliefs about money. 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. “When you change the way you think about money, you can get the best out of life,” says in a TV commercial. True. To change our life, particularly for our financial life to improve, we must change the way we think. Remember that your purpose and core values as a person is what gives money its real worth.  Bail out from these limiting beliefs about money, and resolve to live a happier, wealthier you!

Author:

D.M. Cabaddu

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