Leave Money Alone 2
Hello folks, and welcome to the adventurous money.
In my last post, I wrote about how a lot of us believe that money has the tendency to make us feel secure. But in reality, money has nothing to do with it! Security is an emotion, and it comes through action. No amount of money will ever make one feel secure, but actively working towards that feeling might. (You can read that here)
In today's post, I'm going to discuss a few more money myths that I've noticed, we as humans carry with us.
Money as Power
There is a strong belief among a lot of us that having money provides one with power. That the path to power is paved with cash.
Do you believe in this?
Do you believe money is the source from which people derive their power? If that were true, anyone in the position of giving or withdrawing money would basically command respect and loyalty. Let's say that is true for a moment, or at least applicable in certain circumstances. For instance, consider the relationship between an employee and their employer. Is it possible for the employer to command respect for the salary it pays you? Well, that would have been true if that was the only way of making money. But thanks to your stars, it isn't.
We are lucky enough to have been born in an era where making money is just hindered by our lack of imagination. You don't require a degree, a job, or an employer to make money. We have won a lottery of sorts when it comes to being lucky. So no, money cannot wield power over you, at least not through this means.
If money were truly capable of providing power, most of our leaders or people who contributed greatly to the development of humans would have been born rich. Think about Lal Bahadur Shastri for a moment. The second prime minister of India. Shastri’s father was a school teacher who was later appointed as a clerk in the revenue office at Allahabad, and his mother, Ramdulari Devi, was the daughter of a headmaster of an English school teacher. Despite coming from a very humble background and having limited resources, he was able to shape India's destiny with his hard work, perseverance, and dedication.
Power, like security, is obtained through actions, not money!
Money as Social Acceptance.
A lot of us operate from the belief that money allows us to be socially accepted, and the fact that being socially accepted is ingrained in human nature doesn't help that very much. Unable to get accepted into a social group is seen as a threat to our survival and causes serious discomfort in individuals. Businesses understand this fact perfectly. Thus, the marketing of slimmer bodies, the right car, and the desire to smell better work so clearly.
Even friendship seems to cost money.
Do you have to spend money to enjoy the company of your group of friends?
I believe money as a social asset may have some merit because you do need money to go to the movies or to the beach with your friends. However, it becomes dangerous when one loses sight of the fact that companionship, intimacy, and friendship are all free. I am usually just as happy being around my friends doing nothing compared to when we are engaged in any activity. You just have to take a sincere interest in other people's lives and extend your love to be socially accepted.
When we equate money with social acceptance our view of money gets distorted.
Money means evil.
Money as a carrier of evil things is yet another view shared by many. Perhaps most people want this to be true more than it actually is. And it makes sense why people think it is evil.
Money has probably always been the reason why bad things have happened. The banking crisis of 2008, the Harshad Mehta Scam, etc. But, it is important to remember that it is the people who have done these terrible things and not money. Money is money. It is neutral, and it takes on the meaning you want it to. If you intend for the money to destroy the world, it will do that. And If you intend to make the world a happy place, it will do that too.
What about you?
Take a few minutes now to do a bit of thinking and see what your beliefs about money are. How has your relationship with money affected your relationship with people? As far as money goes, have you handed over the power to your money to define who you truly are? Take a look at your behavior around money. Is it even rational?
Take this time to take a deeper look and understand your relationship with money.
Until next time…
I am on a mission to change the way people think about their money and Investments.