Rule 6: Understand your money beliefs and where they come from like Jim Ovia

Jim Ovia

We all grow up
with money myths. We get a lot of them from our parents and the way they bring
us up. I can still hear my mother saying; ‘A penny saved is a penny found’, and
to this day I still have no idea what it means.

Maybe I’m lucky. My money myths
are based on a lot of nonsense like that. But most of us have the following
ingrained beliefs:


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• Money is the
root of all evil.
• Money is
dirty.
• I don’t
deserve to be rich.
• Money is only
made by the greedy and dishonest.
• Money
corrupts.
• You mustn’t
brag about money – never say how much you earn, are worth or paid for something
(unless it is a bargain).
• You can’t have
money and be ‘spiritually pure?
• You lose your
friends if you get rich.
• You have to
work too hard to get rich.
• Happiness and
money make poor bedfellows.
• The more you
have, the more you’ll want.
• It is somehow
better to be poor.
• I wasn’t meant
to be rich – if I was I would have been by now.
• I’m not the
right type to be rich.
Have a quick
look through. Check which ones you believe. Check which ones strike a chord
with you.

Now you have to
do a bit of that old-fashioned hard work. Write down ones that mean something
to you. Add ones I’ve missed – there will be a few. Now work out why you hold
these beliefs. Is it something you have actively thought about, reasoned out and
dedicated some research to? Or are they inherited, left over, picked up along
the way?
“We all grow up with money myths. We get a lot of
them from our parents and the way they bring us up. I can still hear my mother
saying; ‘A penny saved is a penny found’, and to this day I still have no idea
what it means”

Get rid of any
that you can question and accept are nonsense. Discard any that simply aren’t
true. And chuck out any that stand in the way, hold you back; stop you making
some money.

What you should
be left with is none at all, nothing, a blank sheet. Now you can write new
beliefs such as:

• Money is OK.
• Wanting money
is OK.
• I am going to
be wealthy.
• I am prepared
to put in the work.
Wealthy people have none of the troublesome money
myths we poorer people have. They have purged them or never had them. If we too
purge them, we stand a better chance of getting there.
 From
The Book;
The Rules of Wealth
by Richard Templar
(Read Rule 7
of Rule of Wealth tomorrow on Asabeafrika)

Read-to-Wealth Series 
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