Archive for the Finance Category

4 Money Beliefs That Are Making You Broke

Thursday, June 4th, 2015 | Permalink

The number one thing that determines your financial success is your mindset about money, which is, for the most part, influenced by certain beliefs. Fortunately or otherwise, many negative beliefs about money aren’t true. If you want to live a comfortable life, it’s time to forget these negative notions about money and start looking for better motivation to get the things you truly deserve.


1.       “Money is the root of all evil”

We’re all familiar with this old cliché. Most people think that wealth is a hindrance to a more spiritual life, and that wanting money instantly makes a person selfish and greedy. Money is just a tool. It is in us whether we use it for good purposes or for criminal acts.

2.       “I don’t deserve this much money”

This belief is dismayingly common to a lot of career women, whether they are just starting out or at the peak of their careers. Sometimes, you may think that you don’t work as hard as everyone, that you don’t deserve a big salary or a raise. While this shows a humble and down-to-earth attitude, this negative mindset also limits your professional growth. When you’re given such privilege, accept it. The company sees you as a valuable asset. Focus on proving your worth and that they are giving you just the right compensation.


3.       “Debt is part of life”

Your parents have it, as well as your friends and colleagues, so it is perfectly fine to have debts, right? Wrong. Debt isn’t compulsory. In fact, you can live your life without owing money to anyone. However, many people are forced to get into debt because they have no control over their spending habits and believe that there’s nothing wrong with spending money they don’t have (through loans and credit cards). To make enough money, manage the money you have and always spend within your means.

4.       “Money can’t buy happiness”

Yes, you cannot go to a store with a pile of bills and ask for happiness. However, money can certainly get you things and experiences that can make you happy. Money can buy that dress you’ve been longing for so long, money can fund your favourite hobby, and money can help chase your dreams and passion. It’s money that buys you your basic needs in life, the things you need to be comfortable and to lead a happier life.

These beliefs are true to some extent, but it would do your future better if you change the way you think about money. While having good values is far more important, shaping a better life also requires smart financial decisions.