By: Shagufta Khatri
I call them myths because they appear true but on closer inspection, and by digging deeper, you can learn from them and believe them for what they are…just myths!
- You do not need money to be happy:
Happiness and Money are not unrelated. Families and nations that are affluent are able to have more choices in life and make decisions not based on money. It is okay to borrow money for education, growth, expansion and facilities but one should not be so desperate as to have to borrow money for living expenses. That hurts the ego, causes stress and harms the over all well being of an individual, a family or a country as a whole.
Point to Ponder: Does it really make you happy as a parent to say “NO” to your child for those figure skating classes or basketball lessons or the 3 week long science summer camp?
This is not the same as “money can buy happiness”, because the answer to that is complicated as money is just one dimension and just one piece (but still a piece) of the puzzle.
- You need to understand the numbers:
It is only half the truth, you do need to know your numbers, so you can work from them, but just focusing on the numbers will leave you overwhelmed and exhausted.
Mastering money is more of a mental game. It is learning how to get a handle on your emotions around money.
Point to Ponder: Do you consider spending money on hiring a coach as an investment or as an expense? If you had to think about that answer…then you must also think about the kind of client you are attracting for your own business.
- You can attract & manifest money:
Do not get me wrong! I am a big believer in The Law of Attraction, also books like Think & Grow Rich (by Napoleon Hill) & The Secret (by Rhonda Byrne) are amongst my favorite books.
But, your thoughts and your words are just the beginning. I am sorry that you will be highly disappointed if you use it alone in trying to manifest money.
The part that no one wants to hear and focus on is “ACTION”. You need consistent, persistent & guided action.
Point to Ponder: Most entrepreneurs do not make as much money as they should and could, because they fail to follow up or follow through and implement. Big ideas and big plans, just remain that, big ideas & big plans! To make big bucks all you need is one idea.
- You just need to find a way to earn more: FALSE
You can keep earning more and more, but if you do not know how to budget or save, all you will do is, spend out of habit. Instead try to cultivate the habit of knowing the difference between need and want. Get into the habit of saving, no matter how small. Get a handle on your debt. Know the difference between good debt and bad debt.
To learn more on money matters, please visit and “like” my face book page: you will be the first one to know about simple tools and tips to manage your money https://www.facebook.com/MoneyCoachShagufta
Point to Ponder: Here is a good resource for you to start saving, it’s never too later!
- Money is the root of evil: FALSE
Saved the best for the last! This is nothing but a limiting belief, same as in rich people are greedy. What you do with the money is what gives money a bad reputation. Would you call money evil if you were able to give generously to the causes of your choice?
Point to Ponder: It takes a lot of hard work to be able to get rich, is another one. I can show you hundreds and thousands of people who work very hard, grueling hours, for minimum wage..they did not get rich yet nor are they getting richer. In fact the contrary is true, they feel very poor. Let go of the limiting beliefs, the lies that we tell ourselves when we are alone.