Money and Wealth – the Myths and the Facts

Introduction

Do you have the right attitude towards money and wealth? Is money your biggest motivator? Then you could be missing the point.

Money is the answer to most of life’s issues and something that everyone wants and needs. But it is also something few people understand. Because of this it is the cause of much happiness as well as much misery. To those that understand it happiness. To those that don’t misery.

Money and wealth – it’s the only thing

Robert G. Allen observed that “Money is one of the most important subjects of your entire life. Some of life's greatest enjoyments and most of life's greatest disappointments stem from your decisions about money. Whether you experience great peace of mind or constant anxiety will depend on getting your finances under control.”

Clearly in the present world economic system money is not everything. It is the only thing. It is what determines most of the world’s biggest issues. The countries, people and organizations with the money often determine what does and does not happen. The United States would not be the world’s superpower if it were not for its immense financial wealth. Africa would not be at the mercy of the developed world if it were not for its financial poverty. Africa is not poor when it comes to material and human resources. It is poor financially.

Money and wealth – wealthy but poor

That observation is very interesting because it illustrates that you can have all the resources you need at your disposal and yet still remain poor. Managing what you have and utilizing it well is necessary to convert your potential to financial success.

However in your pursuit of financial success you need to know that money is not the ultimate thing you should desire. This is because money is not usually a good motivator. It is a concept that the mind cannot easily grasp on its own.

The mind understands money better in terms of what it can do for you. So focusing on making a million dollars will be less effective in motivating you than focusing on the cars, houses, free time, good education for your children and all the other things that the million dollars will bring you.

Money and wealth – money as a motivator

Dennis Waitley observed that “The problem is, money alone does not stimulate intrinsic motivation and therefore is a means, not an end. Money is like fuel for your car. It is not the destination. It is not the journey. It is only part of the transportation system.”

Many people don’t realize this and treat money like a god. Money is only a tool. Like any tool, it is useless unless the person using it is skilled in how to use it well. Like any tool, in the hands of the wrong person it can be a danger.

That is why all too often people who stumble upon a fortune, having never had the discipline and patience to make the money themselves, often lose it all or misuse it to an extent of causing harm to themselves and others.

A survey of lottery players revealed some very interesting and surprising statistics. Almost a third of lottery winners declare bankruptcy. Many of them said that the money brought about more unhappiness than when they did not have it. That should ring alarm bells in those of you that think money will solve your problems. It won’t. You alone can do that. Money can only help you along.

Money and wealth – you are the source of wealth and money

Henry Ford said: “If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.” These are some of the ingredients to making money. You are your greatest asset.

If you have ability, knowledge and experience at doing something and you know how to turn this into money you can be successful in any given circumstance. That explains why some very successful people do not worry about losing their fortunes. Why? Because they know that it is not the money that is most important, it is their ability to make the money that is important.

Having such an ability to make money is usually thought to be out of reach to many that think education alone is what brings money. Many “uneducated” people are stuck in an inferiority complex. You don’t need a university education or diploma to make money. Drummer of the band Green Day, Tre Cool, bragged that “I never completed high school and I am very rich and very successful.”

Getting a good solid education will greatly increase your chances of being financially successful, but it does not guarantee it. If you don’t have such an education you can still be financially successful. It may be a little harder, but it is possible.

Money and wealth – education does not guarantee having money

Society tends to be too quick to classify people. The minute you fail at school or haven’t gone far in school it classifies you a failure and determines your future is a bleak one. The saddest thing is many people have accepted this assessment without ever questioning it. Yet the world is full of people that have made fortunes with little in the way of formal education. They are the people that rejected society’s assessment of them simply because they were not well educated.

On the reverse side there are those that are sold into the idea and expect that because they are massively educated they should be very well off financially. Many such people are in for a disappointment. You cannot get educated, get a job, sit back and expect the money to start rolling in. Jim Rohn repeatedly says “Formal education will make you a living; self-education will make you a fortune.” You can use your education to make yourself a fortune. Don’t sit back and expect your education to do all the work.

Money and wealth - conclusion

Finally, Maya Angelou gives this piece of advice: “You can only become truly accomplished at something you love. Don't make money your goal. Instead, pursue the things you love doing, and then do them so well that people can't take their eyes off you.” The money will definitely follow.

You are all you can be. Go on and be it.

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