I have the ultimate get rich scheme for you!

 

Legend has it that if you put a spider in your pocket it will NEVER be empty of money. The trick? It cannot be any old spider; it has to be a money spider!

 

This is one of many money myths out there, and while this one seems largely questionable, although that being said,  I can see why you wouldn’t want to stick your hand in and take your money out, not all of the myths are that apparent.

Here’s 3 less obvious ones parading as truth.

 

Myth: If I work hard, I will get paid more

 

Not so. One of the deep held beliefs of the society we live in is that hard work leads to more wealth and if you aren’t rich yet, you aren’t working hard enough.

 

There is plenty of factual evidence out there which totally disputes the hard work equals more wealth myth which leads to the question if it’s not hard work what DOES build wealth?

 

The good news is  while hard work won’t make us rich, it IS still  a good start.

 

The step after that is the way more important one and that’s taking responsibility for translating that hard work into building our nest egg. That comes down to one thing… MINDSET.

 

Negative thoughts like I don’t deserve money, I’m not good enough, I’m bad with money and money doesn’t grow on trees are NOT the fertile environment in which the fruits of our hard work can grow!

 

Limiting money beliefs like this are a big reason we resist asking for more money, applying for that “too out of reach” position or take any other action that can support growing our wealth.

 

To attract more money and opportunities we need to get our mindset right and that means uncovering and rewriting those negative stories blocking our flow of abundance.

 

Myth: I don’t make enough to save or invest

 

This is a myth a lot of us live by. I know I did. I kept on telling myself I would save when I made more money but every time I made more, lifestyle creep rapidly claimed the extra cash and I would be back at square one. No saving.

 

The problem here has nothing to do with income. This is an expense problem.

 

And again, this all stems from mindset. We feel like we “need” all the things we spend on, in some cases we believe we “deserve” them. We fear what everyone will think of us if we can’t join in the expensive nights out, take the luxurious holidays, have the new car and latest technology or heaven forbid, wear clothes from a few seasons back!

 

Ultimately, we are trading our future financial stability for the things we in reality just want to have right now.

 

The mindset change is to become more mindful around what we spend on. This means understanding our expenses, identifying which are real necessities from mere wants and what it is that is truly important in life for us to be happy and less stressed about money!

 

Myth: It’s too late for me to start investing

 

Some of us have ended up putting investing on the back burner as we juggle everything else competing for our money but no matter where we are right now, it’s never too late to start.

 

Investing is how we take charge of our financial future. It’s how we get to put our money to work. And make it work 24 hours a day, 7 days a week. Investing is the fuel to  building our financial security and having our money working for us means we get to choose when and how we do!

 

The trick to investing is getting started. And thankfully there are now so many platforms to help you get started. The magic is in continuing to invest and letting your money do its business over time. And the longer the timeframe the more powerful the magic. The truth is the best time to start investing was years ago. The second best time? Today!

 

I hope this money myth busting has made you think about all the other limiting money beliefs you might have. It’s time to build real wealth, and that means putting all those restrictive money myths to bed.

 

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Hey there!

Michelle here,

You want to become financially independent and grow your wealth?

You are in the right place.

I help women build their financial intelligence. This means we talk money, earning it, saving it, investing it and growing it.

 

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