Sometimes, whether you’re good with money or not isn’t about how hard you work — it’s about the beliefs that are secretly holding you back. Here are five classic money myths that can mess with your head and how to overcome them.
Money is Bad or Evil
If you’re suggesting that loving or obsessing over money isn’t great, we’d agree with you. But the black and white thinking that money equals bad is screwing you over. This means that deep down, any time you can avoid or get rid of money, you’re more likely to take it.
Flip the script on yourself: think about all the good ways you can use your money, like sharing with loved ones or donating to charities. Money is a tool, nothing more, so it’s all about what you do with it.
You’re Not Good With Money
Not with that attitude! Let’s say you grew up with parents who didn’t model great financial health, or that you’ve struggled with money in the past. It’d have made sense for you to assume this whole money thing isn’t for you, yet that’s a recipe for keeping you from getting any better.
Money skills are not a secret talent; anyone can learn them at any time. Build your confidence by starting small and making tiny, incremental changes.
You Don’t Deserve Money
This is similar to thinking you aren’t good with money, but much more emotionally charged. It often stems from low self-esteem or assuming that people “like you” just don’t get rich. However, if you don’t think you deserve wealth or even comfort, you’ll always get in your own way. You won’t set big enough goals, turn down opportunities, and sabotage yourself whenever you make progress.
Practice believing you’re worthy of success and happiness; forget about the money at first. The point is to get you to realize there’s no cosmic law suggesting that you and only you aren’t deserving of abundance.
Talking About Money is Taboo
Society might claim that money talk is tacky. Yet buying into this also means you won’t learn from others or get advice — you’ll see it as too risky. This leads you to make the same mistakes over and over, solely because you’re worried about reaching out for help.
Speak up, especially with people you trust. Most people are in the same boat and want to talk about money, too, so consider this your opportunity to break the cycle.
Making Money is All About Luck
If you assume money just falls into people’s laps, then you’ll spend your entire life waiting for it to happen to you. Unfortunately, it probably won’t; going viral or winning the lottery isn’t something you can anticipate. And the worst part? If you believe that achieving wealth is all about luck, you’ll stop trying.
Luck is a thing, but most people who succeed with money put in the work. They stay consistent, they pick themselves up when they make mistakes, and they either hustle hard or get creative. Either way, they know they have to put in the effort, and most of us will have to do the same.
