From a tender age, we were exposed to myths about money and myths of being rich. Be it from our parents, brothers, sisters, relatives, or friends. The myths that we have determined our financial well-being in our adult lives.

[img]https://3.bp..com/-k347ldp0cnA/WuxqEJIBbEI/AAAAAAAAAKQ/RBWWFrDoGlsESluKdqaww3EllnAVs4KugCLcBGAs/s320/money-myths-image.png[/img]

I call them myths because they are not true. Or, at least they are not giving you the complete picture.

We can't blame our parents for the myths in us. They already gave us the best they could. And don't forget that times change. Things were true then may not be true today.

If you want to move ahead financially, you have to be aware of the myths that you have about wealth and money. And do not let the myths stop you from living a wealthy life.

Money Myth 1: Work hard and you'll be rich.

Many of us think that by having a job with a big company would ensure that we're on the path to financial freedom. With so many layoff announcements, we might be out of a job anytime. I'm not saying that you'd be one of them but the fact is there is no job that is guaranteed.

Recently, my friend was laid off in less than a month in his new job. Having a job is merely helping you to cope with daily expenses, providing you shelter, food and clothing. Do not be misled that a job or your employer will turn you into a rich and wealthy person. No one cares more than you about your wealth.

Money Myth 2: Saving is good.

When I was small, I was told by my mother that I must learn to save. I thank my mother for inculcating the habit of saving in me. The habit of saving helps me to develop discipline. Many people think that when they save enough, one fine day they'll be rich.

But is saving alone enough to make you wealthy?

I came to realize that if I only depend on my savings to get rich, I'd have to wait for a long time. That's the problem with savings; it takes a long time for you to get rich. Saving alone is not enough. You have to learn to invest your money in other investment vehicles to grow your money faster.

Money Myth 5: Investing is risky.

Many think that investing is risky because they lack education in investing. Investing itself is not risky if you know how to control the risks. Most of us invest based on a tip from a friend or broker without doing our own research. When you lose money, you say that investing is risky. And you tell yourself that you'll never invest again.

To be frank, everything we do has a risk in it. Learn to manage risks by educating yourself. You can educate yourself by attending seminars, reading books, or even from the Internet. I have written a business guide that has helped people achieve financial freedom, so you can check it out and take action.

Money Myth 3: Debt is evil.

The other common myth about money is debt is bad. Did your parents ever tell you that borrowing was bad? Mine did. Not all debt is bad, actually. It depends on how you spend your loans that you're getting. If you take a credit card loan to buy a flat plasma TV, it's a bad debt. On the other hand, if you take loans to start a business or invest in real estate, the debt is good.

If a debt is bad, can you imagine what would happen to companies if they are not allowed to take loans from the banks? As a general rule, if you use debts to buy things that increase in value over time, they are good debts. You must know whether the debt you're taking is good or bad.

Money Myth 4: You need money to make money.

When I ask my friends what's stopping them from starting their own business, the common answer is "I don't have money. And it takes money to make money." I do agree that it takes money to make money. But does it really to be your own money?

Everybody has limited resources when it comes to achieving our financial goals. I do not expect you to have everything when you plan to build your own business. You might need financial backing, manpower, expertise, or a coach to guide you. If you lack resources in any areas, find the resources. Someone else will definitely have it. It does take money to make money, but you can use OPM - other people's money.

Money Myth 6: Wealth reflects in material possessions.

Material possessions reflect your level of wealth. This is a misleading measurement. Someone who is driving a Porsche might not be rich and he might highly in debt.

Wealth does not reflect in material possessions. Wealth is a state of mind. Wealth is how fast you can become rich if you're stripped of everything. As Henry Ford once said after he was asked what he would do if he lost all his fortunes, "I'll become a millionaire again within five years."

We possess one or more of the above myths, consciously or unconsciously. But what is more important is to be aware of the myths and replace the myths with facts. By doing this will tremendously improve your financial well-being.

If you want to break out the Financial Rat Race, you can always visit the link below and learn more.

See source to know more

Join the argument, are these myths for real or false?

You can also add your own idea.

lalasticlala

hmmm

importexpert,ugojibaby,youngmajors,loverboys... How your infopreneur e-books business dey go

eezeribe:
importexpert,ugojibaby,youngmajors,loverboys... How your infopreneur e-books business dey go

Just like John Chow, BloggingTyrant, Webincomeplus, and many other hosts of online wizards out there who impact knowledge for a fee, I wish to tell you that we are all doing fine.

Just like you spent 5 years at the university, you can go and tell them to impart knowledge on you free.

You know why Nigeria has a very low CPC on the internet?

It is because of People like you who want free knowledge!! Something that took me years and spent money doing trial and error.

Sorry it won't happen.

Do you know that Donald Trump wrote a book and is selling it?

You can call him a poor man if you wish. Good day!!!

Good

“Emotions are what make
us human. The word ‘emotion’ stands for ‘energy in motion.’ Be
truthful about your emotions and use your mind and emotions in
your favor, not against yourself.”

mEANINGLESS TOPIC

Ok

Understand the reason you are broke by comprehending the Motivational lesson below


“Let them go,” my dad’s friend said. “They might be developing a
natural talent.”
My dad glared at him.
“Yes, it is illegal,” my dad said gently. “But you boys have shown
great creativity and original thought. Keep going. I’m really proud
of you!”
Disappointed, Mike and I sat in silence for about twenty minutes
before we began cleaning up our mess. The business was over on
opening day. Sweeping the powder up, I looked at Mike and said,
“I guess Jimmy and his friends are right. We are poor.”
My father was just leaving as I said that. “Boys,” he said. “You’re
only poor if you give up. The most important thing is that you did
something. Most people only talk and dream of getting rich. You’ve
done something. I’m very proud of the two of you. I will say it again:
Keep going. Don’t quit.”

_{Modified "the black statement is my point. Never you quit in life because life is unfair to you or throws you round "}

Mike and I stood there in silence. They were nice words, but we
still did not know what to do.
“So how come you’re not rich, Dad?” I asked.
“Because I chose to be a schoolteacher. Schoolteachers really don’t
think about being rich. We just like to teach. I wish I could help you,
but I really don’t know how to make money.”
Mike and I turned and continued our cleanup.
“I know,” said my dad. “If you boys want to learn how to be
rich, don’t ask me. Talk to your dad, Mike.”
“My dad?” asked Mike with a scrunched-up face.
“Yeah, your dad,” repeated my dad with a smile. “Your dad
and I have the same banker, and he raves about your father. He’s
told me several times that your father is brilliant when it comes to
making money.”
“My dad?” Mike asked again in disbelief. “Then how come we
don’t have a nice car and a nice house like the rich kids at school?”
“A nice car and a nice house don’t necessarily mean you’re rich or
you know how to make money,”

Impressing bit-ches will leave you broke faster than speed of light

eezeribe:
importexpert,ugojibaby,youngmajors,loverboys... How your infopreneur e-books business dey go

hahahahahaha

I just knew it was him.

Most of his points are outright bulllsshit. Nonsense! Only God knows how he keeps making front page.

Loverboy, go get a job!! Nobody, I repeat nobody, will teach you his secret of his success - fee or no fee.

Do not believe all you read above are myths. Some are stark reality repackaged with words that'll make you think you or your attitude is the problem meanwhile it's just a round hole and you're forcing a square peg to fit.

In other words, it's impossible for everyone to get there. There must be classes and that can't be broken even if we all decide to apply everything in any rule book

Spot on!

Reading Conspiracy of the Rich and Rich dad Poor Dad by Robert Kiyosaki was really an eye opener

Nice piece ops. For me, you haven't actually gotten financial freedom if your money isn't working for you. Make money, use the money to make more money and repeat the process again.

You can start a snail farm with little capital, space and even enjoy the flexibility of taking care of them while you work
+2348053363999

Your Money Myth number 1 is flawed. How does working hard translate to having a job with big companies?

Nigerian Mentality myths


Most of which are true

Think wide, Work smart.

myners007:
mEANINGLESS TOPIC

meaningless how? Smh pitiful.

the question still remains, how do you become rich?

Everything on point except You Need Money to actually make money.You want to be rich legitimately,trying making money without money. You end up as a broke civil servant doing what you do best,SERVING

This is the first time I'm reading your writing and nodding in affirmation.

But still still,you're cunning.

All these affiliate marketers

anitank:
Your Money Myth number 1 is flawed. How does working hard translate to having a job with big companies?

The bottom line is that working hard hardly make people rich. The better approach is to make your money work for you.

Adiwana:
Everything on point except You Need Money to actually make money.You want to be rich legitimately,trying making money without money. You end up as a broke civil servant doing what you do best,SERVING

Money without knowledge would result to futile attempt in any quest to wealth building.

Primarily, it take knowledge to make money. Secondarily,money may come on the scene - money complements

Stycon:


The bottom line is that working hard hardly make people rich. The better approach is to make your money work for you.

I beg to differ. Working hard steadily will eventually get you at the top someday. And by working hard I’m not talking about physical involvement. But getting up everyday to work towards achieving your life goals and dreams can also be termed as “working hard”

The savings part is particularly true.

anitank:


I beg to differ. Working hard steadily will eventually get you at the top someday. And by working hard I’m not talking about physical involvement. But getting up everyday to work towards achieving your life goals and dreams can also be termed as “working hard”

Okay.

I guess it's the term "working hard" that is the bone of contention here.

Howbeit, the point is how are you going about achieving your goals and dream.


Do you believe that working for salary will ultimately make you rich. Or, on a flip side, being the alpha and omega of your enterprise would make you rich?

Or

Do you have the mindset of owing a corporation where you use other people's time to make you some money? Or invest your money wisely in a sustainable investment vehicle?



These are the perspectives I am coming from.

Spot on, however, one thing i have learnt over the years is that money does not have fornula and perseverance is they key