10 Thoughts on Money
“There are a great many people accumulating what they think is vast wealth, but it’s only money.”
As we grow up, the experiences we have and the messages we receive form the basis of our beliefs about money.
Three of the messages I heard, and the resulting beliefs that I formed were -
Message #1:
“It’s just money. We can always make more of it.”
- Dad
Belief #1:
Money is only as important as the things it can buy.
There’s no value to holding onto it.
Message #2:
“Don’t blow your money on things that don’t matter.
Save it for when you really need it.”
-Mom
Belief #2:
Spending money on things you want now is not a wise decision,
because you’re going to need it later for something and then you won’t have it.
(Yes, thank you, I have in fact noted the juxtaposition of these two messages…😅)
Message #3:
“It is easier for a camel to go through the eye of a needle than for a rich person to enter the Kingdom of God”
- Matthew 19:24
Belief #3:
Very few people are capable of managing wealth in a way that God approves.
If you’ve never paused to think about some of the messages you received early on in life, I invite you to try it! Here are a few prompts to get you started:
What was the “feeling” of money when you were a kid? (i.e., money felt tight, money was kept secret, money was bad)
When you were given money, did it come with strings attached? If so, what were the expectations around how you were supposed to spend it?
Were there any major life events that were connected to having / not having money? (I.e., divorce, inheritance, etc)
Once you have identified the messages, the next step is to consider how those messages may have shaped some of the beliefs and thoughts that you now hold about money.
Getting to the root of your beliefs and thoughts about money is so important! Here’s why:
Our beliefs shape our thoughts.
Our thoughts shape our feelings.
Our feelings shape our actions.
Our actions shape our results.
And then our results reshape the beliefs we have.
…………it’s a cycle!
So if you’re currently not getting the results you want with your financial goals, guess what needs to change?
Hint: It's not your actions...yet.
Ding Ding Ding…It’s Your Beliefs!!!
If you’re wondering whether it’s difficult to change your beliefs, the answer is yes. And also no.
Yes, because it’s difficult to change things we don’t understand.
But that’s also the great news!
Because once you’ve put in the work to understand what your money beliefs are, and why you might have formed them (the exercise above is a great place to begin with this work), you are well on your way to doing what’s needed to change your beliefs.
The next part is actually much easier: Try out some new beliefs!
AKA…look for ideas that align with what kind of money person you want to be. Then go test those ideas out in the real world to see if they produce the results you are looking for with your financial goals.
And where do you get new beliefs? I’m so glad you asked! 😃
There are thousands of books on money, and just as many people with opinions on how to manage it, grow it, keep it, and use it. (This is one of my faves.)
To get you started, I’ve listed ten thoughts below, from ten amazing thinkers, that represent some of the money beliefs I've incorporated in my own life over the years:
"Money and success don’t change people; they merely amplify what is already there."
— Will Smith
"The real measure of your wealth is how much you’d be worth if you lost all your money."
— Anonymous
"The goal isn’t more money. The goal is living life on your terms."
— Chris Brogan
"He who loses money, loses much; He who loses a friend, loses much more; He who loses faith, loses all."
— Eleanor Roosevelt
"It is health that is real wealth and not pieces of gold and silver."
— Mahatma Gandhi
"Too many people spend money they haven't earned, to buy things they don’t want, to impress people they don’t like."
— Will Rogers
"It is not the man who has too little, but the man who craves more, that is poor."
— Seneca
"Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver."
— Ayn Rand
"Wealth consists not in having great possessions, but in having few wants."
— Epictetus
"Wealth is not about having a lot of money; it’s about having a lot of options."
— Chris Rock
As you may have noticed, the quotes above point to the authors’ BELIEFS and do not explicitly state the action steps for building wealth.
I assure you, this is intentional.
Many people, when making changes, want to immediately jump to the actions they see other people taking, without first understanding whether or not those actions are in line with their beliefs.
The problem with that order of operations is that - eventually - actions that are not based in conviction lead to burnout and failure.
In order to make changes that will stick and have a lasting effect on your financial legacy, your actions need to be aligned with your beliefs.
First figure out what you believe about money and wealth.
Then seek out action items that align with your beliefs.
On a final note:
As you start to uncover your beliefs about money, I want to encourage you to avoid judgment toward yourself or anyone else that may have had a part in shaping unhealthy or unhelpful thoughts.
While potentially valid, these judgments are - ultimately - a roadblock when it comes to moving forward toward new beliefs that will help you unlock your financial goals and connect your wealth with meaning and purpose in your life.
Part of embracing change is letting go of what no longer serves you, to make space for the things that will carry you forward.
~Jess
P.S. Do you have a Money Belief you'd like to share? If so, I'd love to hear it! You can send me a message here - I read every single response 🙏
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