When it comes to money, we were not given or taught and instructional book. And too often, we pick up, learn or develop beliefs about money, that do not support us on our quest to become wealthy. Some even think wealth is a Bad thing.
There are 3 beliefs about money, that are in our culture, that often cause us grief, pain and subconscious challenge. Causing us to doubt, or shy a way from building riches. Unfortunately, often folks are not even aware of the limitations of their own beliefs, or even sometimes not aware they have them at a core level.
Here are a couple that can hold you back. Once you realize their limitations, you may want to change, alter or add a more positive belief.
- Money is the Root of all Evil. A terrible mis quote from the bible, that says,”the LOVE” of money is the root of all evil. Money can do a lot of good. Money can change the lives of your family and 1000’s of other too. I recall working with an evangilist, that had a business (charity) sharing the word of GOD. He belief was it does not matter if the business is profitable, I am sharing the word of god. He will look after us. OK. I get it, you have faith. But faith without works is DEAD. God helps them that help themselves. In fact in the Bible, there are over 2300 references to money and material possessions. It is a shame, when one focus on one versus and not all. Or even worst, distort the meaning of a versus. Anyway, I asked my friend, if his business (charity) went out of business, how many lives would he change (NONE), then asked, if the business is profitable, and continued, how may lives could he touch? His response MILLIONS. So, we worked on creating a for profit business, that had a Spiritual and Charitable emphasis. You do not need to exclude one or the other. They can work in harmony. Money is only a tool, what you do with the tool is up to you.
- I need money to make money. What a load of crap. There are hundreds of strategies, to make money without money. Just a few examples: Flipping real estate, while using a hard money lender, or private money; Arbitrage-Acquiring the rights to a product at a low price (never actually taking procession) and assigning right to someone else (done on Ebay, Amazon, and web sites all the time); you can find a product, find a database, and hook the too up (a joint venture). You need knowledge to make money. Take my money, but not my knowledge. My knowledge of leverage, no money down, joint ventures, and wealth strategies. One of the big problems, with this belief, is people try to save money to make money, and never save, therefore never start.
- Debt is a BAAADDD thing. Ok. Lots of gurus out there talk about debt being bad. And it is true, if you use debt for vacations, clothes, toys, and assets to impress folks (cars), likely debt is bad. If you use debt to pay for lifestyle, and get behind, it can be debilitating. But if you debt to buy cash flowing assets like: Real Estate, Stock trading, or Business, it is a WONDERFUL thing. LEVERAGE. Debt is great for cash flow assets.
- Money will change me. And for many folks, the belief is that money will change you negative. All money, does is bring out your true, values, and character. If you are generous. If you are charitable. You can give more to charity and community. If your a jerk. Likely, you will continue to be a BIGGER jerk. Money is a tool. It can give you options, that you don’t have now, and help lots of folks. I like going to ST JUDES, it is easier to send that check, when I have lots, than a little.
Make sure your beliefs, support your goals and dreams in life.