5 Money Myths That Keep People in Poverty

Winning the lottery. Hitting the jackpot. Getting drafted.

These are all phrases that have to do with obtaining an abundance of financial wealth. While some people dream of these scenarios, there are yet others on the opposite side of the spectrum that distrust money and the people that have it. There are certain beliefs that both of these groups have that can actually keep them in poverty, and if you are not careful, lead you to poverty as well. Here are the top 5:

1. Money is the root of all evil.

Many people have heard this infamous saying at some point in their lives. However, it couldn’t be further from the truth. Let me be very clear when I say that Money is NOT the root of all evil. The origin of this idiom is from the Bible, and is commonly taken out of context to argue that money is somehow a bad thing. However, In 1 Timothy 6: 10, it states:

“For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.”

So it is the LOVE of money that is evil. And those who put money before God will have a tough road ahead. So don’t think being rich is somehow sinful or dangerous. We just need to be responsible and judicious with our money and remain humble as we move forward in our endeavors.

2. Money changes you.

Time and time again you see the same story: people experience a sudden and extreme explosion of wealth, only to become arrogant, bitter, insensitive, and a host of other negative characteristics. Essentially, it seems that people lose their minds and lose themselves once they become rich. I, on the other hand don’t think money somehow alters their personality; money is actually just an amplifier. Like my pastor says, “Money doesn’t change you; it makes you more of who you really are.” Usually, there are some deeper-rooted qualities that are hidden or somewhat masked by poverty or normalcy. But once people experience explosive wealth (and the power associated with it) in a short amount of time, they shed the mask and let their negative qualities take over. I mean, who’s going to tell you any differently? You’re rich!

3. Money will solve all your problems.

I used to think that money would fix everything, that once I got rich all of my problems would magically go away. I could pay all of my bills, help my family, and never worry about lack. However, that simply isn’t true. Talk to any millionaire and they will likely agree. A dollar bill is simply a piece of cloth-paper until we place value into it. And as your bank account grows, your problems will only become more complex. Not only do you have to deal with your previous issues, but then family, friends, and even the government will become increasingly dependent on you and your wealth. They all want a piece of the pie and they can all feel entitled to the cash. Managing all of that while managing and protecting your wealth can be a full-time job all in itself.

4. Money doesn’t buy happiness.

Now this one I can actually agree with. Money, by itself, cannot buy you happiness, joy, peace, love, or any other emotion you may desire it for. In fact, money if used improperly can almost guarantee a life of heartache, sorrow, and misery. However, one thing we all must understand is that money can buy the things that make us happy, and the more money you have, the more things you can buy that can make you happy. Think about it this way: If you are passionate about serving the Lord or serving your community, money won’t replace that. However, an abundant supply of money can allow you more time and funds to worship, support, or donate to your cause. Maybe you enjoy travelling the world. The only way to take those expeditions is if you can afford it. Of course, there is a balance, but I’m advocating financial prosperity as a means to an end—leveraging it to fulfill your passions and dreams—as opposed to an end in itself.

5. Money isn’t everything.

While it’s true that money isn’t everything, it sure is something—and something important. Money is simply a tool we use to value products and services, but it is a very powerful and potentially dangerous tool. It requires discipline in order for you to achieve lasting wealth, and it deserves a portion of your attention. Otherwise you may fall victim to debt, depression, and poverty. Don’t make money your top priority—it should never become your #1 focus in life—but keep in mind it should be a priority if you plan to achieve success in all areas of life.