10 Lies About Money You Probably Still Believe
10 Lies About Money You Probably Still Believe
By Maria Nedeva
There are many lies about money you probably still believe.
Don’t blame you – I did believe many of these money lies as well before I put my brain into gear and did some sums. You don’t even need complex maths, or any maths for that matter, to see that some of the money ‘wisdom’ in circulation is as washed out as you granny’s bloomers. Some critical and questioning thinking would do! Tonight, I’d like to share with you the top ten lies about money on my lists.
Now let me tell you why I believe these ten regularly recycled money statements are, if not complete fabrication, very highly misleading. These are lies about money that not only will hurt your bank account but also believing in them makes you look as ridiculous as a husky wearing a coat on a mild autumn day. (Yes, I’ve seen this one and felt profoundly sorry for the husky.)
Finally… What are the lies about money you can think about?
#1 You Need A Budget
No, you don’t and if you continue defining your problems wrongly there isn’t hope for you; in life and money. See, when you say that you need a budget, you are saying that not ‘a budget’ is your problem. In fact, your problem most likely is that you are over-spending.
There are many ways to deal with over-spending.
One is to make a budget and try to fit your life in it. This is a bit like buying a pair of jeans that are two sizes small and trying to fit in them. Have you tried this one? (I did when I way fifteen and it isn’t great, trust me.)
Another one is to change your life and learn to want less. Now this one is more like going to a slimming club and loosing enough weight to buy jeans two sizes smaller than the ones wearing now. Makes sense, yes?
Do me a favour and forget that you need a budget. Instead learn to stop wanting things and never look at another budget again.
#2 Ownership Trumps Hire
Not always. Whether you own things or hire them depends on many things including how much you move around (stage of life), how much is your monthly income, how secure is this income, how you cope with uncertainty, do you relish being custodian of all your possessions etc.
Did you know that last year renting accommodation was cheaper than buying in half UK cities? (And please don’t tell yourselves that buying a house is an investment; it isn’t. Now that we are clear on this one…)
#3 Frugality Will Save The Day (And Your Bank Account)
No, it won’t.
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