The Most Damaging Beliefs I Was Taught About Money (2024)

“All we want in this life is peace, prosperity and a little paper.” – Q-Tip

In life, It’s all about the money.

As cliche as it sounds, money does make the world go round.

That’s how the world’s been setup for the last 100+ years. You can blame the geniuses who devised a plan to create banks for that.

I bet they made a killing.

And for everyone else who didn’t? They probably were raised like me.

Not having too much money or being born into wealth… And therefore being taught negative things about the concepts of money, what it means, and why it’s a bad thing.

It’s held me back for so many years causing me unnecessary pain and headaches I could have avoided had I known better.

Let’s talk about that.

Negative beliefs I was taught about money that held me back:

1. Money is the root of what now?

“Money is NOT the root of all evil, people are.”

That’s something I’ve learned since destroying this negative belief.

Money isn’t the root of all evil, people are the root of it.

The problem with this dangerous belief is:

• If you believe it, then you’ll never reach your financial goals.
• Or worse: you won’t even consider the thought of ever being “rich”.

I was neutral on this belief which is worse. Because it’s like being within reach of something but not quite being able to grab it.

So even though I was neutral, it still hindered my progress in terms of money or wanting tons of it.

2. Money isn’t everything

“I think everything depends on money.” – Alan Bean

Sad to say, but the only people who sold me on this idea… are those who never HAD a lot of money. And never have.

That’s just the brutal truth.

Saying money isn’t everything is like saying food isn’t everything…

It’s stupid, dumb, and serves no real purpose in mentioning it.

I believed money wasn’t everything and so I treated it like it was nothing. That’s why up until 2012-2013 I never had too much in my bank account at any given time.

Usually, just enough to spend on some dumb sh*t like wasting my first month’s wage (in my 1st job) on clothes and materialistic BS that did nothing for me. Except push me back to square one in the money department.

And even if I did have a lot of money, I’d only spend it anyway. I had no idea what I was doing. My financial IQ was broken.

I’ve been repairing and improving it ever since.

3. Money doesn’t grow on trees

The old me was slapped over the head with this belief. Almost everyone believes this.

It’s no wonder those people never have any money… Even in a first-world country where money is flowing everywhere, in the trillions.

I was one of them, after all!

Money doesn’t have to grow on trees for you to have any.

Money grows in a bank instead. The more you accumulate, the quicker it grows into something big one day.

If only I knew that from the beginning. Had I started this journey and had the beliefs I do now at 16… I’d be a millionaire in net worth by now.

All the money I’ve wasted… That’s a result of stupid money beliefs like money doesn’t grow on trees.

The scary thing is that – as a society, we see this as “normal”, and most people never question it. So naturally, we continue to suffer in the arena of money for LIFE.

4. Rich people are greedy and steal from the poor

The notion is – the reason a person is rich is that they sneakily steal from those with little and end up rich because of it.

But the idea is not just childish and crippling; it’s stupid as F.

By definition – by believing this is true, you’re destined to never get rich or do well for yourself.

Because this belief implies, it’s impossible since you’re being “robbed” by the rich. And you’re incapable of doing anything about it.

Money has nothing to do with stealing

I’ve learned in my short life that rich or not so rich has nothing to do with stealing.

A person will steal whether they’re swimming in money or they’re homeless. Or whether they’re a CEO or an accountant.

Because people are good or bad. Money is just a tool to aid you along your path of right or wrong.

Money is just an excuse that I (and probably yourself) was taught to justify our own failures and disappointments financially.

The same argument is true for “rich people are greedy”.

The person who believes this (literally) would love to trade places with the person they’re criticizing. Hence – it’s hypocrisy disguised as insecurity and low self-worth.

5. Money won’t make you happy

“Money is not the only answer, but it makes a difference.” – Barack Obama

I’m pretty sure this is one of the worst money beliefs I ever heard.

Why? Because if you truly believe money won’t make you happy, then you’ll avoid it BECAUSE it won’t make you happier.

But that’s a backwards way of thinking.

Because I know one thing: It’s better to have lots of money than no money.

You wouldn’t work if that weren’t true. If money doesn’t make you happy, then give it all away.

Personal issues exist whether you have money or not. Money only solves money problems.

Everything else, like love, happiness, joy and health, comes down to you. But ironically – having money makes these things a little easier and even more fulfilling.

The only people singing the tune or saying cute quotes like “money won’t make you happy” are those who can afford to say it.

Everyone else is just a sheep believing everything they hear without questioning it.

6. Money should be saved for a rainy day

What people mean by this is that moneyis scarce, and since it’s hard to get it, you may as well save it for a rainy day.

It comes from a place of fear and insecurity. Both of which cripple and paralyse you in the face of life’s challenges.

Saving for a rainy day never did me any good. Because in the 21st century saving rates are as low as 0.5 – 1%.

You could literally pick up pennies off the floor every day and end up with more than what a bank will give you from “saving”, which is slang for I have no idea what I’m doing!

Investing my money in myself, in learning, in knowledge and in other things has done more for me than this stupid saying ever did.

After all – if you expect a rainy day and you only save for it, then you’re f*cked.

7. There are more important things than money (like love)

“Money isn’t the most important thing in life, but it’s reasonably close to oxygen on the “gotta have it” scale.” – Zig Ziglar

I went to the bank the other week and asked them If I could deposit some love into my account in exchange for money.

No more than 20 seconds later, I was dragged out of the bank by security guards who thought I’d gone senile.

Obviously, I’m being sarcastic. But that’s the point. This saying is dangerous because the truth is – love, happiness, joy and affection are ALL just as important as money.

Most things in life work the same way.

The only reason to say “there are more important things than money” is because you’re insecure about it. I’ve never met anyone with tons of money who said to me, “There are more important things than money” because it’s irrelevant and serves no purpose.

There’s no way I’d even be writing this, and no possible way you’d be reading this if money wasn’t important. Because money is the reason you and I can access the internet, read blogs, write and even do business.

The problem with these dangerous “money” beliefs

There’s one thing each of these beliefs (and many similar beliefs) has in common… All of these beliefs have malicious, negative intent.

If you come from a place of malicious intent or insecurity, you’re basically digging yourself a grave for whatever it is you’re unhappy with.

Money or not.

Think about it this way:

• If you want to get rich.
• If you have dreams of living in a nice house (rent or mortgage).
• If you want to live in nice hotels.
• If you want to donate egregious amounts of money to charities you care about.
• If you wanna take care of your family or partner who’s sick, bedridden, or otherwise.

And the many other things I can mention, these dangerous money beliefs will only hinder you for the rest of your life if you refuse to change them.

That right there is the problem with these negative money beliefs. And it’s why it held me back personally for years, as it does many people. Some of them are held back by these beliefs for a lifetime.

That’s tragic for real. And It’s no way to live if you care about making something of yourself that will make you proud and give you freedom, which we all want.

How to reverse negative money beliefs:

• Read new books.
• Surround yourself with new people.
• Monitor your self-talk.
• Write down all the good things money does for you.
• Admit to yourself that money matters.
• Expose yourself to new habits and better sources of information.
• Give up the mainstream news in relation to “bad” financial imagery.

1. Read new books

When I made an effort to open my mind to new financial ideas, the first book I ever read wasThe Science Of Getting Rich.

That was followed up withThe Secrets Of The Millionaire Mind.

After that, I started getting more and more into books that were relevant, necessary, and mind-opening most of all.

New financial books = new ways of thinking about money, though not all financial books are the “good” kind or will help you achieve it so that’s something else you’ll have to be choosey about.

Sometimes you have to sift through the BS though to find the diamonds.

2. Surround yourself with new people

One way you can start making changes to reverse negative money beliefs is through mastermind groups.

Or it could be:

• Facebook groups.
• Online groups.
• Forums.
• Business events.
• Skype or Google My Business calls.

And anything else you can think of that will let you speak to new people with similar interests and desires for money and prosperity.

I even started my own mastermind group some years back to start this journey. And went to a lot of business events to speak with all kinds of business people.

It opens your mind to a new world of information and healthier ways of seeing money.

3. Monitor your self talk

The one thing we do every day is talk to ourselves. Not out loud, but on the inside.

We tell ourselves we’re:

• worthy
• unworthy
• capable
• successful
• not good enough

and so on. And whichever words and thoughts we repeat often become our ways of thinking, seeing, believing, and shaping the world around us.

For better or for worse.

So you might as well monitor your self talk, change it, and use actions and habits to change the negative self talk permanently.

Actionsare the easiest way to persuade inner changes that ultimately change how you think.

4. Write down all the good things money does for you

Here are some examples for myself:

• Money helps me buy healthy, organic food to nourish my body.
• Money helps me to travel to the places I like or want to experience.
• Money helps me enjoy life more by having more choices.
• With money, I can have the freedom to relax if needs be.
• Money can help me recover my health without stressing about “work” if I’m sick or unwell.
• Money can make my life and my family’s life easier and more stress-free.
• Wealth helps me focus on other important things that matter more easily.

Money does a lot of good things in this world and in your own world. You just need to see it, acknowledge it, and then encourage that type of thinking for your own betterment.

5. Admit to yourself that money matters

There is no escaping this fact, and if you do try to escape it, well, you’re only making yourself suffer for no logical reason.

Money matters and that’s the end of the conversation.

Everyone who talks sh*t about money knows this is true, but they’ve committed to being so stubborn that they almost have to deny this reality for the sake of their pride and fragile ego.

Once you admit that money is important and that it’s one of the most important things, only then can you come to terms with reaching for a better financial life.

6. Expose yourself to new habits and better sources of information

This can go back to the point ofbooks,but it extends to:

• Blogs.
• Articles.
• Guides.
• People.
• Places.
• Courses.
• Videos.
• Podcasts.
• Friends of friends.
• Family members.

And whoever else you feel is a good source of positive information and those who won’t make you feel lesserfor wanting more money for yourself.

Or for simply rejecting negative money beliefs because you realize the power of reversing these beliefs so you can start walking in the right financial direction.

7. Give up the mainstream news (especially with negative imagery)

Mainstream news is bad for the most part. They only show you the worst of human society, and the worst of humanity as a whole. Which is usually the minority being painted as if it’s the majority.

It’s true for financial news, or news involving money in some way shape or form, in a negative context of course. Like someone burgling a house, putting a hot iron on someone’s back, and stealing money from their safe.

Or someone stealing an old woman’s life savings.

While these things do happen, sticking your head into this closet of news every day is no good for your financial well-being and will only give you the wrong view of money at some point.

Turn that sh*t off and feed yourself better, more helpful information.

Money is important, and it’s as simple as that

Thankfully, I’ve been able to open my mind to the world and get rid of these destructive money beliefs that held me back without me even knowing it.

And it doesn’t stop – I’m working on myself every day.

Self-improvement is a lifestyle, not a goal or a tactic.