One word. Culture. It is not in our culture to be smart with money. It is a culture that does not educate us about how to manage, or grow our wealth. There are lies we tell ourselves about money. Let’s look at 4 lies you need to stop telling yourself today.
1) I can’t control my finances
A small percent of people own most of the wealth, and the rest of us assume we cannot have any control over our finances. But ask yourself, how many people truly have a financial goal? Perhaps if you are reading this blog you are more conscious of your expenses, and you may have some ideas. However, goals such as “I need more money” or “I would like to earn more” are too vague, they will never be realized.
Instead of feeling we are a slave to our circumstances, and that we need a lucky break to have more in our pockets, we need to take action. This means having a goal, a real goal. A recent poll shows that only 30% of Americans have a long term financial goal!
Write down with a pen, how much money you want, why you want it, and when you are going to have it by. Turn this into your mantra, remind yourself of it frequently. This way, you will actually begin to create opportunities to fulfill that goal.
Rewire your brain from, “I don’t control my finances” to “I am in control, and here are my goals”.
2) Money is evil, and it won’t make me happy
These well known phrases are repeated often. And yes, money is inanimate, it will not make you happy, but, it won’t make you unhappy either. It isn’t evil, or good. It is a person who is evil or good. Having money will allow you to be more of what you already are.
So stop using this lie to prevent you from increasing your wealth. Money isn’t a bad thing, and when you realize that you will be able to see clearly what you need to do to improve your financial state.
Rewire your brain from, “Money is evil” to “Money is inanimate, it won’t make me unhappy”
3) Budgeting is not necessary
The same poll that was mentioned above says that only 32% of Americans think it is necessary to have a budget for their expenses. (Read that here, http://bit.ly/1KkZJlU) That is also probably why there is on average $15,310 of credit card debt in each American household.
This idea that budgeting is not a necessity is a one way ticket to a spiral of debt. Being in debt create a vicious trap that is very hard to escape. By being sure that you are living in your means, you will enjoy much more peace of mind, and be able to create a plan to start increasing your wealth.
Rewire your brain from, “I don’t need to budget” to “It is absolutely necessary for my long term finances”.
4) Saving is Optional
Most people don’t have any discernible savings, and no discernible saving strategy. This is because they view savings a luxury, or an afterthought. Perhaps something they will fit in after they have spent all they want to spend.
You need to change this story and remind yourself that saving is an absolute necessity! You should have a percentage of your earnings that you save no matter what happens. Don’t make excuses for that money, you must save it. It is this ruthless attitude you need with yourself to ensure your future financial success.
Rewire your brain from, “Saving is optional” to “Saving is obligatory”.
Hope that this has given you some impetus to change some of the attitudes we all have had in our heads at one point. Do you know of friends or family members who are still trapped in this old way of thinking? Share this article on facebook, and help as many people as possible reclaim control of their finances!
- Jen Sincero
- Penguin Audio
- Audible Audiobook
- John Schaub
- McGraw-Hill Education
- Kindle Edition
- Frazer Rice
- Publisher: Lioncrest Publishing
- Paperback: 356 pages
Last update on 2019-06-06 / Affiliate links / Images from Amazon Product Advertising API