5 Money Beliefs That Are Keeping You Broke

Most of us grew up believing certain things about money. It can be things that was taught to you, or things that we observed and learned to accept as you grew up. However, living by some of these beliefs could also be keeping you from getting bigger bucks. If you want to be richer and live a rather comfortable life, then it’s time to get some of the following negative beliefs off your system.

1. “Money is the root of all evil”. We’re all familiar with this old cliché. Most people often think that wealth is what hinders spirituality, and wanting more money automatically turns you into a greedy person. However, money isn’t inherently good or evil. It is simply a tool and a means to an end. What matters is how you use the money you have, whether you use it for good purposes or for criminal intents.

2. “Saving money is impossible if you don’t earn enough”. Most of us think that savings or emergency funds only work for people with fat pay checks. After all, saving any money is quite impossible with our bills and daily expenses. Still, this isn’t a valid excuse to skip on saving. Regardless of how much you earn each month, learn to allocate a portion of it in your savings. Do this consistently and see how it grows into something significant, even if you don’t receive fat pay checks.

3. “Debts are part of life”. Your colleagues have it, your friend has one and even your parents have it, which is why it’s perfectly alright to have a debt, right? Wrong. Living a life without owing money to anyone is actually possible, but most people still get unnecessary debts due to their uncontrollable spending habits. A good remedy to this is learning how to manage your money so that you’ll never get into debt, unless you really need to.

4. “Money won’t buy you happiness”. While it’s true that you can’t literally buy happiness, money is still capable of getting you things and experiences that leads to that happiness. It can fund the kind of hobby that you’re into, it can buy the stuff that you like, and it can even help you chase your passions and dreams. Money aids in satisfying your pressing needs and deepest wants, and in providing you a better and happier life.

5. “Romance and Money Don’t Mix Well”. Know what’s less romantic than discussions about money? A divorce caused by chronic debt, money-related arguments and endless financial anxiety. Luckily, all of this can be avoided by having frank and honest money talks. Learn to understand where you and your partner stand in terms of money, spending and debt to help you determine whether or not you’re a good long-term match. Being on the same page on your finances will aid in protecting your affair, building a happy domestic life and accomplishing your goals as a couple.

While money isn’t everything in the world, it’s still important that you learn to properly budget your finances. By doing so and forgetting about the faulty belief that were taught to you, you’ll surely be able to manage your money and live a financially-independent life.