(To Help You Avoid Losing It)
The subject of making money is one that tends to come up in conversation no matter where you go, or who you are talking to.
Money is an important part of our lives, and because so much value is put on money, it only makes sense that people talk about it a lot.
Is Making Money Important?
When the subject of making money comes up, you probably react one of two ways. You either take an interest in the conversation or you cringe and try and get out of it as quickly as possible.
The truth is, most of us respond to money based on our emotional connection to it. If a person understands money and the importance of correctly handling money, discussing the topic of making money can be both enjoyable and educational.
For someone who struggles with money, while they may know they need it, will generally try to ignore the subject to avoid the pain of having to once again face their own money problems.
With so many differing views on money and its importance, it is quite evident why the topic of making money can be confusing for many people.
And then of course, you have those who talk about making money solely for their own personal gain. Some of the things they say about money may be true but you always have to take it with a grain of salt.
These types of people will present money to you in a way that plays with your emotions, generally with the intentions of getting you to part ways with your hard-earned cash.
They tend to talk about money in a way that doesn’t logically make sense even though it still sounds good.
This has become a huge problem in the discussion about finances, building wealth and income generation and these are the financial traps that this blog hopes to help people avoid.
When we talk about making money here on Moore Income, we believe that there are some facts about making money that everyone should understand clearly.
For this reason, we have put together a list of 7 True Facts About Making Money to help you better understand the topic. It will also assist you in deciphering when the conversation about money is not in your best interest.
1.) There Is No Easy Button To Making Money
Everyone wants to make an extra buck. The only problem is that very few of those people are actually willing to put in the effort necessary to actually earn the money.
The thing is, a lot of people think about making money with a completely flawed mentality. I have written in depth on this on my personal blog where I talk about the fact that making money is basically illegal.
If you think of it, the definition of “making money” in the simplest form means to actually physically create the money. If you have the correct materials, technically “making money” this way would be pretty easy. It would also be considered counterfeiting. (I would advise AGAINST)
But when it comes to making money, as in earning an income, most people are always searching for a way to make money that is as easy as printing it. Always searching for an easy button that they can push, and viola!
Because many people have this mindset, and the con artists know it, a lot of times they will feed on this emotion to get you to buy in to their gimmicks by promising the secret key to untold riches at just the push of a button.
What they don’t tell you is that you push a button to give them some of your money, they get richer, and you end up with nothing but broken dreams.
I think a lot of us would readily agree to the fact that making money is not as easy as pushing a button, but deep down inside, we still secretly wish it was.
Next time you are tempted to buy into something that promises easy riches, think about this fact about making money, and whatever you do, don’t click the “buy” button!
2.) Making Money Fast Is Usually The Worst Way
One key principle to building wealth is to delay gratification. This is one reason a lot of people stay poor, because they FAIL to do so.
We want money, we want it fast, and we want it now!
This fact about making money goes hand and hand with the first one.
Making money is not instant, there is a lot of time and effort that goes into creating almost anything that generates a profit.
I am not saying that you cannot earn a lot of money at a rapid pace. What I am saying is that to do so it doesn’t just, happen.
Unless of course you win the lottery, but there has been plenty written to show that this only helps to validate the fact I am trying to make.
Even Jeff Bezos, who, according to Business Insider, makes approximately $150,000 a minute, didn’t just instantly start earning a boat-load of money. It took years of hard work and a lot of time and effort to create the giant company we now know as Amazon.
Playing on our emotional desire for instant gratification is just one more tactic that con artists use to get your money into their own bank accounts.
Next time you are approached with an opportunity to earn “fast cash”, think twice. Then say, NO!
3.) Making Money Is Not The Most Important Thing In Life
No doubt you already somewhat know and understand this fact about making money, but take a moment and consider a few thoughts.
While there are many important things in our lives, money generally seems to be near the top when it comes to importance.
But… it should never become the most important thing in our lives.
Understanding this fact about money can save you from making costly choices in the future.
And I am not just talking about “costly” in terms of money only. I am referring to it in the sense of costing you your character, time, and even in some cases relationships.
Most of us would agree that family and friends are important in our lives, yet how many times have you seen family and friends at odds over money? Unfortunately, it happens a lot.
When making or chasing money becomes too important in our lives, it can cause us to be more susceptible to fall for some of the before-mentioned gimmicks.
Worse yet, when money is a strong motivator it can cause a person to do things that go against their own character and lower their self-esteem.
I could go on and on about the dangers here but just do yourself a favor and make it a point to NEVER allow making money to become the most important thing in your life.
4.) Making Money Does Not Ultimately Make You Happy
In a blog post published by Jeff Goins, he shares openly his feeling of “missing something” despite the fact that most people would view him as very successful and his track record would say the same.
He talks about the fact that this is the case with many successful people.
The truth is, money does not equal happiness. It may give you the ability to purchase things that make you temporarily happy, and you may be happy when you acquire more of it, but money in and of itself will not satisfy your desire to be happy.
Now although I do like to think deep, this blog is by no means a philosophical blog and so I will not attempt to try and define happiness.
All you need to really understand is that happiness is not guaranteed no matter how much your net worth is.
When you understand and mentally apply this fact about making money, you can stop chasing money as a way to find fulfillment in your life and instead you can focus on figuring out where your true happiness is found.
Chasing money will only leave you empty in the long. This sense of emptiness can in turn cause you to make the wrong decisions with your money and you could end up losing it rather than making it.
There is far more to life and happiness than money. You are sure to be surprised if you take the time to dive deeper into the subject of happiness.
For example, if you were to give me a $100 dollar bill right now, I might be happy in the moment, but eventually that money will be gone.
However, I know for a fact if I were to give someone in need a $100 dollar bill, even though technically I am “losing money”, I would be much happier in the long term than I was receiving money from you.
Interesting how that works right? (Read The Go Giver for more Inspiration)
5.) Nobody Can Honestly 100% Guarantee You Will Make Money
Time and time again, (especially on certain Facebook groups) I run across people promoting some new way to earn guaranteed payouts, commission, cash, or however else they want to word it.
The problem with this is that they simply cannot make such promises honestly.
Sure, the thought of a guaranteed return for a small investment sounds appealing, but this is where the saying “if it sounds too good to be true, it probably is” is really important to remember.
If there really were ways to make guaranteed returns with no risk, people would have figured it out by now and it wouldn’t be some “secret method”.
There are certain ways to grow your money a little by putting it in an interests yielding savings account or dividend yielding stock, but I am referring more to the “business opportunities” that certain people promote promising “guaranteed income”.
Anytime anyone approaches you with such an offer, you probably shouldn’t spend too much time considering the offer no matter how appealing it may sound.
Think about this fact about making money along with some of the previous ones mentioned and the next time one of these “once-in-a-lifetime” offers promising guaranteed returns comes up, you won’t even be the tempted in the slightest.
6.) There Are Principles To Making Money That Actually Work
Some people think you have to be lucky to get rich, others think that if you just keep trying and working hard, eventually you will crack the code.
The truth is, that while hard work, determination and possibly being lucky to be in the right place at the right time can have an affect on how much money you make, there are also principles to making money.
For time sake I will not get into any of these principles in depth but I will recommend that you read lots of books written by successful people.
It is in these books that you will find principles that when applied to your life in the area of finances, actually do work.
These principles are what is missing in all the money making gimmicks that people promote that don’t truly help you to make money. That is why it is so important for you to learn these principles.
Understanding that there are principles to follow when it comes to making money will help you to actually be able to start to see success and to avoid all the scams.
7.) Time IS NOT Money!
The first time I heard this statement, I didn’t quite understand. But the more I thought about it, the more sense it actually made.
It does go against a common saying used but it is something that when you understand, it changes your money mindset for the better.
Time is one of the most valuable resources you have. We know we have 24 hours in a day and 7 days in a week but ultimately, we do not know how much time we personally have.
Once spent, you can never get that second back.
Because of this fact, time is a precious and extremely valuable.
Money on the other hand, though valuable, certainly is not the same thing as time.
Money can be earned, and lost, and earned again. There is really no cap on the amount of money you can make if you know how to make it, this is not the same case when it comes to time.
Money can buy you extra time, ie. when you take a 3 hour flight instead of driving 18 hours, but no matter how much time you save by flying, you will always have only a certain amount of hours left in your day
Why is the fact about money important to understand?
Because if you keep viewing time the same way you view money, you actually end up wasting more of your most valuable resource. When you treat time like money, it leads to procrastination, laziness and eventually failure.
If you get nothing else from this article but this fact, I believe it could be one of the most valuable tips to help change your money mindset.
Start thinking about time as much more valuable than money today and you will find yourself being much wiser with how you spend it. When you spend your time wisely and combine it with your money making genius, you can experience a much greater level of success.
If you have made it this far, I would like to personally congratulate you. (Unless of course you just skipped to the end. You know who you are!) 🙂
This has been a long post, this is intentional partially because it is my first post on this blog and because there is a lot to say when it comes to laying a foundation for talking about making money.
Also, I decided from the start to write a list of seven facts because seven is my favorite number, so I figured it would be a great way to start out this blog.
I truly hope you have found some value in these 7 facts about making money that I have presented to you today.
If you have found this valuable and know of someone else who might learn something from it, please do me a favor and send them a link.
Also, please join in the conversation in the comment section and feel free to voice your own thoughts, opinions, disagreements and any other valuable money facts I have missed.
And while you are at it, here is an image you can pin to Pinterest.
Please don’t hesitate to share a link to this post on any of your social accounts so that others can take advantage of all the financial knowledge being shared.
And if you are ever in need of some advice or help, please feel free to contact me at any time!
Good Financial Book: Rich Dad, Poor Dadby Rober Kiyosaki