8 Myths about Money

Much has been written and spoken about money till date. Surprisingly, despite being a necessary part of our daily lives, it is still surrounded by various myths, mysteries and rumors. These hearsay and myths won’t just make you lose money, but can also adversely affect the way you perceive the notion of money itself.

We have tried to review some of the most common myths about finance and commerce that most people tend to believe and thus, suffer adversely as a result.

These are the 11 most common myths about money that people need to disbelieve:

1. Money can Buy Happiness

money can buy happiness

Here we are talking about happiness through material comfort, of course. Most people tend to focus so much on earning money that they tend to forget the amount of excessive money that they already have. Extensive researches have proved time and again that a person’s quality of life cannot get any more luxurious or comfortable, generally, after a certain amount of money has been earned. Although, this mainly depends on the specific desires of individuals, normally speaking, the person can be satisfied with his/her basic necessities of food, clothing and shelter.

One of the most dangerous trends today is the way young people are seen struggling and suffering all through their lives to earn a load of money so that they can retire early. But the excessive work in a short period of time mostly takes a toll on their health and the same money has to be instead used for medical and psychological expenses.

2. Money is the Root of All Evil

money is root of evil

This is a derivation from the Bible, but has been often misquoted and misunderstood. Although the pursuit of a stable and comfortable income is a fundamental right, it is also being consistently abused nowadays. In search of the elusive ‘Big Buck’, people tend to take the shorter and the shadier route.

It is safe to believe that the Bible meant that when you resort to illegal or prohibited methods for earning money, it is usually a sign of greed.

3. Money Makes Money

money makes money

However prevalent this quote may be, there are certainly numerous events where it has been disproved that to make a whole lot of money, you will need to invest a load of money into it first. Always remember the thousands of rags-to-riches stories that are around you.

4. More Money, Less Worry

more money less worry

Another big myth which surrounds the concept of money is that enough money can help solve all your problems. Although materialistic issues can certainly be solved with money, it does not hold true when it comes to the other problems of your daily life. Money only serves to satisfy your desire for a while.

5. Money can Help You Find Love

mony can find you love

If you really hold the opinion that enough wealth can buy you anything including love, then you need to rethink it thoroughly.

6. Money can Keep You Safe

money keep you safe

Do you know any rich person who has not had a bad day at work, or who is not suffering from domestic problems, or health issues are not plaguing them in their middle ages just like a middle-class person? You don’t, because money can, in no way, control the thousands of variable factors that control destiny and fate.

7. Money Corrupts

money corrupts

This is another most prevalent myth that we believe about money. Greed is not the result of money, rather it is a transcending characteristic which exceeds material comforts. Money is usually one the tools that a truly greedy person will pursue in order to try and fulfill his/her unending desires and wishes.

8. “I Wish My Parents were Rich...”

i wish my parents were rich

Although it does hold true that having rich parents is certainly advantageous in some ways, it is important to remember that a majority of the world’s top richest people today started out with nearly nothing and have reached the heights of success and prosperity through their own brilliance and sheer hard work.

It is vital to keep in mind that money should not be the end of everything.

Remember, although money is a necessity, you should never let it become your ultimate need.

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