9 Money Myths That Could Really Be Costing You

Everyone has their own predispositions that influence how they save, spend, and earn their money. Today, I will share these myths and how to avoid being a victim of falling for these money traps! When I was a kid, I grew up in a small town. We lived on an acre of land and had to frequently wash our vehicles because we lived on a dirt road. My father worked long hours and rarely took days off. Due to this lifestyle, I equated working hard with making money. I had no idea that this was not entirely true! I’m not saying that hard work is not necessary, because it absolutely is.

However, we all know those people who work harder than anyone else, yet they make little to no money compared to others. Take janitors for an example. I have known several hard-working janitors who could work circles around the company CEO. Yet on the pay scale, they are at the bottom of the totem pole. So does hard work equate to more money? As I examined human behavior and financial strategies, I found an interesting fact about people who make the most money.

Those who earn the most money are those who make their money work hard for them. They make their money work rather than working hard for their money. When their money is the one working, they actually make more of it. It’s the idea of working smarter, not harder. Our views about money are shaped by many different things.

They were shaped by our parents, our teachers, and other influential adults and friends in our lives. We lived through them and through their experiences whether we knew it or not. Our parents learned much of their money ideas from their parents and so on. These thought processes continue on in a repetitive cycle until someone breaks them. One change in the family tree can affect those below them. For help with your personal finances, consider working with a fiduciary financial advisor. Find an advisor who serves your area today (Sponsored).

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