We have many myths about money. There are many expressions and beliefs about money among the people. These can help us evolve, develop financially or, on the contrary, limit us, restrain us from earning and keeping a lot of money from those that come to our “hands”, whether they are from earnings, savings or investments.
Myths about money
1. The child must learn, not work, because work tires him and does not allow him to have good results at school.
Work in youth does not tire him and does not lead to lack of school results. Work, like sports, disciplines, makes the child responsible and determines him to be grateful for everything he receives from his parents and will be respectful of all people who work.
I invite you to read the book: “Smart Money, Smart Kids” by Dave Ramsey which you can find here:
2. You can’t get rich if you’re employed.
However, it is not necessary to be an entrepreneur or an investor. You can be an entrepreneur in parallel with a job and you can work on your dreams, you can be employed and you can invest; you don’t necessarily have to be a 100% investor. Being employed does not mean that you don’t realize your dream, but it is the first step to building it.
In the book: “Rich Dad, Poor Dad”, Robert Kiyosaki was advised by his rich father to get a job if he wants to be a good entrepreneur. I recommend this book which you can find here:
3. You can get rich if you just save.
Robert Kiyosaki states that you lose money by saving. Savings accounts are nothing more than for high liquidity and financial security of 3-6-9 or 12 months of expenses. Otherwise, if you rely only on saving and that’s it, you will end up at the end of your life to find that you have worked “a whole life without getting anything”, because the amount collected does not offer you a good life.
I recommend the book: “Smart Kid, Rich Kid” by Robert Kiyosaki about the mentality of people. You can find it here:
4. MLM network marketing businesses are thorny.
Myths about money also exist in the business world. Prosperous people do not consider these types of businesses to be a thorn, in fact, for some of them such businesses were a launching pad into the prosperous world. Unfortunately, in our country, the emphasis is placed on aggression, failure to respect the needs of the client or potential client, or rather, all clients are automatically “business partners”. If this idea were abandoned, then perhaps more people could benefit from such a business.
I recommend the book: “Business School” by Robert Kiyosaki, which you can find here:
5. You have to be an entrepreneur to be rich.
You can invest. It is very important to know the power of capitalization of money, to know how the economy works and what are the mechanisms of money multiplication, what happens in investments, so that you do not need to think about a type of business that no longer exists on the market, about a product or service that you can launch so that you can get rich, but to start discovering the world of investments that is within the reach of anyone: employee, freelancer, entrepreneur.
Even if you are an entrepreneur, freelancer or an employee in a powerful company, in a top management position and earn very well, but you do not apply the laws governed by the multiplication of money, it is very possible that you will have problems having a lot of money in the future and even when you retire from activity.
I recommend the book: “The Path to Financial Independence” by Bodo Shaifer which you can find here:
6. You must suppress your desires to become rich, to save money and to invest it.
Financial planning should be fun, “easy on the ears”, to bring us joy and relaxation. We need a financial independence account, a desires account, so that we can reduce unnecessary expenses now and allocate money for those big desires that will bring us, later, the greatest joy in our lives
I recommend the book: “How Did This Idiot Get Rich and I Didn’t?” by Robert Shemin which you can find here:
7. Financial education is only about money; you need to know math and economics.
Financial education is about psychology: how we think about money and what decisions we make regarding its management and about emotions: how we feel when we earn, spend, save and invest money. We also have emotions, not just reason. Our life is composed of many more spheres, including the financial, emotional, relational, etc. spheres, and emotions are the ones that sabotage us or help us. Psychology is about becoming aware of what is happening in all these spheres, knowing ourselves and knowing the human being: how it works, so we can make decisions combining all spheres of action to harmonize ourselves and have a balanced life..
I recommend the book: “Emotional Intelligence” by Daniel Goleman which you can find here:
8. You have to be lucky or earn more to get rich.
Setting personal financial goals, planning them, whether they are short, medium or long term and creating a goal board leads to the motivation to act to achieve them. These aspects matter much more than focusing on earning a high income which, most of the time, if not always, also leads to increased expenses. Linking financial plans to emotions: self-control and managing activities so that the unconscious works to achieve your goals.
I recommend the book: “Changing your thinking, you change your life” written by Brian Tracy for the psychological sphere of personal success. You can find the book here:
9. I will not reach retirement or I am not a risk-oriented person.
When we are young we cannot think that we will reach retirement age, but if we do, we will need money and if we think that we are not followers of investments because they do not comply with our risk, then we will have an amount far too small to be able to support ourselves at retirement age.
It is necessary to use financial products to reduce risk: so that we do not make the decisions ourselves and then the fear and risk are reduced, and the allocation also has a weighting on shares – instruments that generate a higher return, because you can have an account of 1 million euros or 500,000 euros just because: “I am not a risk-oriented person”. I recommend reading books to facilitate your information in the area of risk and financial products, so that you have money to be able to support yourself later.
I recommend the books: “Money. Master the Game” written by Tony Robbins and “The Key to Financial Success is in You” written by Brian Tracy where you will learn about financial products and financial instruments that can help you earn more money and think about the time involved. You can find the books here: and
10. Without credit you can’t do anything.
Credit is good if it is made according to its purpose.
The riskiest investments are those made on credit – those are for people who are risk-takers.
A car or a vacation can be bought with a down payment.
It is true that those who lend money benefit if you think this way and thus enrich them, and you become poorer.
Myths about money – solutions
This idea is reinforced on television. Through the advertisements they broadcast, this myth is reinforced in your head. I recently saw an advertisement that promoted buying a new stove on credit, if the old one broke. This behavior is due to the lack of financial education.
I recommend the book: “The Richest Man in Babylon” written by George S. Clason which you can find here:
We are here to educate ourselves financially, to enrich ourselves with information in the financial area and to become aware of some strategies, behaviors, habits that have a great impact on our lives.
Invest in your financial education, gather information and become aware of its importance; the importance of money in your life and your financial situation, as well as the beliefs you have! I invite you to be inspired by the list of books that help you develop financially: https://www.e-learning.psihologiabanilor.ro/10-carti-de-educatie-financiara-care-iti-schimba-viata/
It is necessary to educate yourself, to read, but also to put it into practice. Money will not come only if you read and invest in yourself. It is necessary to apply and put your money to work effectively for you. As long as you buy a book, read it and it remains forgotten in your library, that is just an expense: you spent money on a book. An investment is when you have become aware of something, learned information and put it into practice.
I invite you not to spend money on books, but to invest in them, but also to invest your money in what is right for you and your financial situation: current and future, according to your medium and long-term goals!https://danieltanase.com/sotw15/
Good luck in realizing the value that money can have in your life!
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