Money Lies

MONEY LIE: I Just Need To Make More Money

Welcome to the “Money Lies” series here on the wildly popular In this series, I will be sharing many common money lies that people believe.

MONEY LIE #1: I just need to make more money to be able to win financially.

This is a terrible lie to believe. Here’s why: It gives us an excuse for not winning with our current income!

You see, if we buy this lie, it allows us to accept mediocrity right now. We have an excuse that satisfies us so we stay right where we are without making financial progress.

I’ve actually found that more money just amplifies my current financial behavior instead of improving it. The same is true for most people.

Here’s the MONEY TRUTH: You CAN win with the money you earn right now.

Have you been believing this money lie? If so, here are some practical steps you can take right now to begin winning with your current income:

  1. Prepare a written budget every single month BEFORE the month begins – use one of our FREE BUDGETS to get started.
  2. Set up an automatic contribution to your savings account of any amount (it could even be just $25) – set it up to be automatically taken out of your check!
  3. Begin automatically contributing to your company retirement account (or set one up for yourself if your employer doesn’t provide one) – contribute enough to obtain the full company match!

Read the entire series (available after 2/20/2013)

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SERIES: Money Lies Many People Believe

When I was a kid, sometimes as I would be sitting in the back seat of the family 1974 Oldsmobile Delta 88 Royale along with my five brothers (probably sitting on the hump because I was the youngest), my parents would say, “Look! There’s a falling star!” We would all scramble around the back seat of the big land barge to see it. I remember that most of them appeared to be greenish in nature.

It wasn’t until just a few years ago that I realized I was believing a lie. I believed that the falling star was just that – a falling star. The TRUTH is that a “falling star” is just space junk entering the earth’s atmosphere. It’s probably a bag of Doritos that fell out of the space station! Disappointment fell upon me for a few minutes as I made the realization I had been believing a lie until I realized its probably a good thing it isn’t a star falling – that would be really bad!

I believed a LIE was the TRUTH.

When I was broke, I believed a lot of things to be true about my finances. But they were lies. Big lies.

But I thought the lies were truth. I could even explain why they were true. Regardless of my ability to rationalize, it did not change the fact that the truth I was believing was actually a big bundle of lies keeping me broke! Now that I’ve won with money, I see that many people believe the same lies I did.

Money Lies Many People Believe:

  1. I just need to make more money to be able to win financially.
  2. My spouse will never work with me on our finances.
  3. I’ve made too many financial mistakes to win with money.
  4. I can’t save and invest money.
  5. I can’t budget – I don’t have enough … (choose one or more) time, money, I have unpredictable income, etc.
  6. I can’t give money away and still make it financially.

Over the next several days, I’m going to be sharing why each of these items are LIES and provide practical ways to overcome each one.

This will be fun!

Read the entire series (available after 2/20/2013)

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