Many of us have great intention to become wealthy. However, if you have limited ways to create financial freedom, then there is a possibility that you are trapped by mental money trap. Here are 3 common mental money trap you should avoid.
1. ‘I just want enough to be comfortable.’
Many of us can somehow find this place of comfort, which becomes a compromise for any possibility of financial freedom. Imagine if a significant number of people save little money for retirement. Then, there will be masses of people to be unable to quit working at retirement age, because they are without enough money to take care of themselves during economic contractions.
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2. ‘More money, more problems.’
This is an idea that those without money use to justify having less and being broke. It is hard, if not impossible, to mention a problem for having a lot of money.
On the other hand, we encounter problems for not having enough money, almost every day. If it does not happen to us, it happens to our friends or neighbors.
The truth is the more money you have, the more control and choices you have over every aspect of your life. For instance, if you are sitting in a first-class seat, it doesn’t mean you won’t have a drunk sitting next to you. But if you buy your own jet, you to control who gets on it, but now you have to hire two pilots, a mechanic and feed the airplane. Thus, more money means new problems, not more problems.
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3. ‘It takes money to make money.’
The reality is more than three-quarters of all millionaires today are first-generation millionaires. That means that ordinary people got rich because they had the courage to follow up on their ideas.
The truer saying should be, it takes money to make more money. While later in life the rich use their money to create wealth, in the beginning, stages it only takes courage and persistence to create money. This belief that you first need money makes you a victim and gives you no way out.
