5 Money Mindsets That Prevent You From Being Wealthy

Our external environment is a reflection of our internal thoughts.

Our belief system plays a big factor on how we live our life.

This article will discuss the Top 5 Mindsets that Prevents People from Being Wealthy.

1. Money is the Root of Evil

 Most people were brought up thinking that money is the root of evil. We watch movies where the villain is usually the person who was a hero turned enemy because of money.

We grew up watching Robin Hood – the hero who steals money from the rich to distribute to the poor.

We hear corporate scandals where the CEO doesn’t care about its employees and customers and receives a large amount of bonus.

Most importantly, we often hear the verses from the bible such as “It is easier for a camel to go through the eye of a needle than for someone who is rich to enter the kingdom of God.” (Mark 10:25)

Because of these examples we believe that money is the root of evil and we subconsciously sabotage ourselves when we are beginning to accumulate money.

We buy things we don’t need, we give money away, we take a loan we can’t afford, or we sabotage a business which is about to take-off.

Why? Because we don’t want to be evil. It is better to be a poor person who is happy and can have eternal life.

However, what is stated in the Bible is not that money is the root of evil BUT THE LOVE OF MONEY IS THE ROOT OF EVIL.

Money is NEUTRAL.

How you use money depends on you.

The church needs money to help the poor. The government needs money to provide services to its constituents. Companies need money to pay for the salaries of its employees.

So remember, Money is NOT the root of EVIL. It is the LOVE OF MONEY that is the ROOT OF EVIL. 

Hence, it is important to know your WHY?

WHY DO YOU WANT TO BE RICH?

Is it for the betterment of yourself, family, and community? Or is it to take advantage of other people?

2. Rich People are Greedy

 Have you known someone who changed his attitude after being rich all of a sudden?

Before, he is well accommodating and can easily be invited in any occasion.

Now that he is rich, you can no longer get hold of him.

You need to set an appointment before you can meet him.

His attitude also changed. He thinks and acts as if he is superior to everyone. And he now just thinks about how to accumulate more money.

If you can’t be of use to him, he will not treat you well.

Money didn’t changed him.

He is already like that before but he can’t express such attitude because he does not have any money.

Money just reveals who a person really is.

There are rich people who are greedy and there are poor people who are also greedy.

There are just people who are greedy regardless if they are rich or poor.

Most rich people, the ones who are really wealthy, are generous. They donate a large amount of their wealth to causes and charities they believe in.

It’s very hard to be generous if you don’t have any money to give away.

Yes, you can volunteer and give your time and skills but sometimes people need food to eat and clothes to wear and that cost money.

3. Rich People are Corrupt

Based from the discussions above, you might have an idea already.

Yes! There are rich people who are corrupt but there are also poor people who are corrupt.

There are just people who are corrupt.

Again, money is neutral.

The most successful and wealthiest people in the world upholds utmost integrity. They won’t be successful for so long if they have been corrupt.

4. Money is NOT Important

If you don’t value money, it will never stay with you.

People who say that money is not important does not have any money.

Money is important but it is not the most important.

The reasons why you spend your money is more important.

You need money to send your children to school. You need money to provide for your family. You need money to support charities and causes.

Value your money but don’t value it more than your whys!

5. I Don’t Want People to Think that I am Selfish

Oftentimes, when you are on your way in properly budgeting, saving, and investing your hard-earned money, there is a friend or relative who will go to you to ask for favor (usually a loan).

You lend money because you believe that it is the right thing to do.

Then they don’t pay back and they ask for more money stating all the possible reasons for you to say yes.

Then the cycle continues.

You are being taken advantage.

In life, it’s okay to say NO. Instead of giving them a loan, give them a “one-time donation” and tell them that you are in a tight budget and might not be able to give another one in the future.

Look at it this way, the money that you’ve loaned to that person (which we don’t know where he used) could have been placed in an investment that could provide you future cash flows that you can use to help more people in the future.

As the bible says, don’t give them fish but teach them how to fish.

Let go of these mindsets!

Because if you associate money with such negative things, you will prevent yourself to be rich.

To review, the 5 Common Mindsets that prevents us from being wealthy are as follow:

  1. Money is the Root of Evil
  2. Rich People are Greedy
  3. Rich People are Corrupt
  4. Money is not important
  5. I don’t want People to think that I am selfish

 Money is Neutral. It’s how you use it that matters.

Your Millennial Wealth Planner,

Harold Q. Gardon, CWP, CEPP


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