January 20, 2012

Money Myths vs Money Facts

Money myths are our culture's most cherished, most damaging lies

Myth #1: Everyone can get mounds of money if they work hard enough.

Fact:  Does anyone actually believe this any more? The global economic system is balanced in favour of a small minority, and always has been. This minority gets away with a lot of bullshit by making us think we can join them if we just stick to it and keep on working harder (insert sound of cracking whip here).

Myth #2: Money will make you happy.

Fact: Nothing of importance can be bought with money. It can't buy a problem-free life - it often creates more problems than it solves. Do we really think that the billions of people on our planet that don't have money aren't happy? Or 'can't' be happy until they are wealthy? Everything I have experienced while meeting people all over the world tells me this is not the case.

Myth #3: Rich people are greedy.

Fact: Not all rich people are greedy. I imagine, much like the rest of the population, most of them are quite nice. Misguided, off-course, hypnotized, chained to the perpetual wheel of want - maybe. But not greedy.

Myth #4: If some money is good, more is better.

Fact: Past an ideal, modest level of financial well-being, acquiring more money suffers from diminishing returns. Going from poverty to enough money to sustain your needs yields a huge payoff. Going from that to more than enough will yield less bang per dollar as you continue to spend.

In drug terms it is called tolerance, or reduced responsiveness. The richer one gets, the more one spends. Finally, like a seasoned addict, you need to blow more and more cash to get the same effect. Eventually you need to buy yachts and 30,000 square foot houses just to feel normal.

Myth #5: All you need is love.

Fact: Hold on, how did that get in there? This one is not a myth. This one is a fact.

It is true. All you need is love. It is free to feel, free to give, free to receive, free to enjoy. No money, no money myths needed.

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