Chances are – these are pieces of advice you’ve heard before – perhaps even from people who love you (i.e. parents). But you may want to re-think conventional wisdom – and here’s why.
1. It takes money to make money.
This self-limiting belief crushes dreams, and keeps good ideas on the shelf. The challenge is that there are a lot of bad ideas that look like good ideas. Watch a couple of episodes of tv’s Shark Tank and see how capital always tends to find its way to the good ideas – then sharpen and commit to your own good ideas.
2. Money doesn’t grow on trees.
Money isn’t scarce – it’s abundant – they print more of it every day. Neither is our access to money (as many believe) dependent on the generosity or whims of others. Money finds its way to good people and good ideas. Devise your own personal plan to lure more of it into your corner.
3. Another day, another dollar.
Many of us are trapped by the idea that once we’ve sold 40 hours of our time each week – we have little “revenue upside” left. But the secret that separates the financially successful from the financially challenged, is what you do to take some of what you earn, and put it to work 24 X 7 X 365.
4. Money is the root of all evil.
It’s the love of money that is the root of all evil. Money is not evil – success is not evil. In fact, money – well deployed – is a weapon against evil – even for those with no charitable design. Many of history’s best ideas were born out of a purely capitalist motive – but saved lives and benefitted society nonetheless. Make a lot – and do a lot with it.
5. A penny saved is a penny earned.
There’s another saying that goes, “penny-wise, pound-foolish.” Saving is good. Frugality is good. Investing (done the right way of course), is very good. But getting trapped in a “coupon” mentality is where we tend to limit ourselves.
6. Selfishness is a virtue.
“Otherness” is important, and virtuous. The real question is do we give today out of scarcity – or tomorrow out of abundance? Each of us has to determine how we can leave our best mark on the world – and sometimes temporary selfishness is the most selfless thing we can do.
7. More money, more problems.
Most of the problems of the wealthy are self-imposed. Having money doesn’t need to mean a complicated life that walls us off from the world or dulls our humanness. Money should solve problems – not create them.
Sorry Mom and Dad – but let’s stop limiting the dreams of our kids – and start liberating and promoting them instead.
