Money lies

We will refer to these excuses as lies. They are not lies that you tell others; these are lies that you tell yourself as an investor. The sad part is, some of them don’t even appear to you as lies. You have started believing that’s the way things are, but I want you to confront your money lies as they keep you away from wealth and the kind of financial life that you want.

“I will discuss three common misconceptions about money. You can san Money lies.”

Lie #1 – I earn well, but at the end of month I don’t know where it all goes.

It’s crucial to confront this misconception about your finances. Stop deceiving yourself, as you know where your money goes. Consider how often you use your wallet or card for purchases. You might be spending on things that don’t generate wealth.

If you don’t allocate a purpose to your money, it will find its own. Money naturally circulates, moving from one person to another, much like water flows. If you don’t assign a purpose to your money, it will find one on its own.

The truth is, you are a spender who enjoys spending money. You prioritize earning and spending over saving. Acknowledge that you are a spender and work on changing this habit. You can start by saving and investing even a small amount regularly. It’s not the amount that matters but the habit you cultivate as an investor.

Imagine a river flowing steadily through a lush green valley. The river represents your money, always in motion, always flowing. Now, imagine a dam blocking this river, stopping its flow. This dam represents the habit of not giving purpose to your money, allowing it to stagnate.

Just like the river, your money needs direction. If you don’t guide it, it will find its own path, possibly leading to wasteful spending or unproductive investments. You might find yourself spending on things that provide immediate gratification but don’t contribute to your long-term financial well-being.

Don’t allow these money lies to take root in your financial life. Make space only for honesty, as it will pay dividends throughout your life.

Lie # 2: I don’t know why my financial life is complex

It’s a lie. Why don’t you know why your financial life is complex? None of the financial products got into your life while you were asleep. All the financial products entered your life with your permission. You purchased each financial product one after another, and that is how every product became a part of your financial life.

You are 100% responsible for your current financial situation. You are the artist of your financial canvas. Stop deceiving yourself. Reflect on how you have managed your financial life as an investor.

Did you thoroughly research before buying financial products?

Stop lying to yourself and start researching before purchasing any new financial product. Financial products can enter your financial life quickly, but removing them can be challenging. To keep your financial life simple, always research thoroughly as an investor.

Lie #3 – I can’t say No to my friends and relatives who come to sell me financial products.

It’s a lie that you can’t say NO. You have the ability to say No loud and clear. When you receive a sales call, you can say NO, but you find it difficult to say NO to close relatives or friends.

What happens in such situations?

You might feel awkward. You want to say no, yet you end up saying yes. You feel pressured when a relative or friend approaches you to meet their monthly target.

When you can’t say no, your yes loses its meaning. Stop deceiving yourself that others are putting you in an awkward situation. It’s not about them; it’s about YOU. You are unable to gather the courage to decline their offer.

Who will design your financial life, “They” or “YOU”?

I think definitely YOU.

If you. So, you need to say no to those who try to sell you unwanted financial products. Imagine if your dentist friend asks you to undergo a root canal to help them meet their monthly business target. Would you do it? Definitely NO.

Then why can’t you say NO when it comes to your investments? Each wrong financial product damages the roots of your financial life. It’s not that you can’t say no; it’s that you choose not to say No to those who try to sell you unwanted financial products because you want to appear good in front of them.

Saying NO helps protect your financial life, preventing you from paying the price for having the wrong products in your financial portfolio.

It’s about you, not them. From now onwards, say a clear no to all those who come to sell unwanted financial products.

Congratulations! You have learned all about “Money lies.”

Disclaimers:
An investor education initiative By Findola Wealth Research Team.

This article is generated and published by Findola Wealth Research Team.

Investment in securities market are subject to market risks, read all the related documents carefully before investing.

This article is for information purposes only and is not meant to influence your investment decisions. It should not be treated as a mutual fund recommendation or advice to make an investment decision in the above-mentioned schemes.