Today’s post comes to us from Apathy Ends. Mr. A.E. is a personal finance enthusiast on a journey toward financial freedom. He believes apathy steals success and there is no better time than now to start working on your finances. Click on over to his site and check out all of the amazing, insightful content!
When you spend a lot of your free time reading and thinking about personal finance, there are going to inevitably be some things that you are tired of hearing about. I decided to put my thoughts down on internet paper and see if anyone shares in my opinions on these popular money phrases.
5 Things I Am Tired of Hearing About Money
1. “I need more”
Probably the most common money phrase I hear uttered. First off, I think they mean “want” not need, as most people that use this line have a home and food.
Second. If you need want more money, go out and get it. Its an ABUNDANT resource and there are 1000’s of ways to get your hands on some cash. Ask for a raise, or side hustle your way to the bank.
When you can replace “I need more” with “I earned more” you are doing something right.
Another option, you could also keep more of the money you are currently spending on non-essentials. If you are just going to blow it on stupid crap you might as well not even work for it.
“Just get the bare essentials, this is the last of our dough”
Sorry, this is the only place I felt I could get away with using a Dumb and Dumber quote in 10 months of blogging. Had to be done.
If you want more, go out and get it
2. “You need money to make money”
This always feels like a chicken or the egg debacle and those are usually a waste of time. Just pick one and do it.
For compound interest to work, you do have start with something. Most people overlook the impact small incremental steps can make. You don’t need to start with a fortune to end with one.
When I started working, only 3% of my paycheck made its way into a retirement account. 5.5 years later, over 36% of our income is put away for our future. Setting yearly goals gets credit for the bulk of our success. We are not unique, anyone can do it.
Take some action and start small today
3. “Money can’t solve all your problems”
This one, while technically true, still annoys me. It can’t solve ALL your problems but it can solve a whole lot of them. And I am willing to bet it’s the biggest problems that only money can solve.
I have yet to see a doctor take anything but money as payment. Debt can only disappear by paying down the balance. Roofs over your head generally don’t come for free.
Take the stress of paying bills or figuring out how you are going to retire out of the equation.
Use money to solve the problems it can, then spend your time on ones it can’t
4. “I don’t need money to be happy” or “Money can’t buy happiness”
Maybe I just don’t like hearing the word “Need” in the same sentence as money since it is in 3 of the 5.
I do need money to be happy. Working for it prevents me from making my own decisions and that makes me unhappy. It also buys or enhances a lot of my favorite things/activities.
We can definitely be happy without it, there are a lot of free activities that bring joy. But when the fun is over and your family responsibilities come back into focus, money is usually at or near the top of the list. The more you have, the less you have to impede your happiness with work.
Money can’t buy happiness, but it can buy your freedom
5. “Money is the Root of all Evil”
We can’t blame objects for human mistakes. Used the right way, it can do a lot more good than evil.
Family – I can sum this up in one word – Security. Safeguard your family from emergencies or disasters with an emergency fund and plan.
Charity – Charities run on donations, both time and money. You need both to make a far reaching impact.
I could make the case that greed is the root of all evil, but I think there is a healthy amount of greed as well. As long as you use it to motivate yourself and not screw other people over.
Use money to improve your life and the lives of others
Take Away
These thoughts bother me because people are giving money more power than it deserves. If you let it control you, it will. It may just be numbers on a screen or a bill in your pocket, but it can trick you into thinking it owns you and your decisions.
Start viewing money is a tool, and once you have enough of it – you can truly be free to make your own decisions.
Anything you are sick of hearing about money that I missed?
Thanks for hosting today Amanda! -Very happy to have you here, A.E.!
Mr. and Mrs. AE live in Minnesota with their dog Finn and are going to be first time parents in early 2017. Outside of operating ApathyEnds.com, they enjoy trying out new restaurants and anything involving a MN lake.
I agree that number 5 is particularly irksome, because it is a mis-quotation. The original statement is: “the love of money is the root of all sorts of evil.” As you said, greed is certainly a source of some types of evil. But money itself is a tool; it’s our attitude toward it that can be dangerous. And it’s not the only source of humanity’s problems, but it can be a root problem for some. I think anyone could agree with that!
I did not know that was a mis-quote – learning!
100% agree, attitudes toward money can be dangerous, especially when people are incorrectly motivated (there is probably a better way to phrase that but I am drawing a blank right now). I think of the Wells Fargo employees as a good example, they made poor choices – but with that many people doing it the culture needs to be looked at as well.
There are definetely other sources o
I was going to mention the misquote too. It’s really interesting to look at these expressions about money – and I’m thinking of #3,4,5 in particular – and consider what they really mean as opposed to what they lead people to do – like ignore their financial health because “money isn’t important.” Been there. A real paradigm shift can happen when you realize that the truth behind these statements is not the truth you’ve been living by. I love what you say about incremental steps too. Another tough one for most of us to get our heads around.
Kalie, This is exactly my husband’s view on money!
I hear ‘I’m skint’ a lot, and it’s always from someone showcasing a new designer hand bag or the latest gadget. I have to remind myself not everyone was brought up by cheapskate parents who only owned 3 CDs because they’re not essential and a waste of money (btw, I’m now wise enough to realise what valuable lessons they taught me, not everyone is fortunate to have such wise parents)
Haha, love that use of the Dumb and Dumber quote. Especially like how you point out if you want more, go out and get it! With the way technology works right now, there probably hasn’t ever been a period in history where it was so easy to make a little bit of extra money, on your own time, if needed.
Glad I found a way to fit that in, that is one of the best parts of the movie
The barriers to side hustling are so small these days – its definetely there if you want it
These are all really good! Since setting a goal to become FIRED in the next 10-15 years, I’ve noticed my thoughts tend to focus on money a lot more than in the past. That’s not necessarily a bad thing, but I don’t want it to be an obsession. I need to remember to live my life to and not just think about and save money.
Oh ya – it takes up a lot of my free time for sure
While I love it, I have to remind myself that the pile of cash is not the end goal – freedom is.
Thanks for the comment!
“Money doesn’t grow on trees” … it kinda does if you invest it correctly. Plant your money seeds, reinvest your gains, watch that money grow with no effort from you.
It does grow on trees, they just take longer to mature than most people want to wait!
I don’t mind the “I need more money” sentiment – as long as it’s backed up by proactive action to make more. Otherwise, it’s just whining 🙂
This is exactly what I was going to say. I see “Help Wanted” signs up all over our town. I just left the YMCA and there was a board with 7 open jobs. I appreciate AE’s comment that need and want aren’t the same thing too – and that cutting spending on crap would take care of some issues. Get out there and hustle 🙂
I wouldn’t mind it as much if it was followed up with action as well – most of the time I hear it is on the whining side. Would still prefer they switched it with Want not Need though 🙂
I agree with Stefanie. A higher income doesn’t necessarily happen overnight, and going and getting the *immediate* money like delivery jobs might be sacrificing much larger long-term growth in income (i.e. learning a new skill that takes hundreds or thousands of hours of practice, building a business that is break or even losing money at first, etc.).
I don’t side hustle outside of my blog (which isn’t raking the money in) my “go get some” is income increases.
All I am saying is if you want more – do something about it and go get some
Thank your for #4. Yes & Yes blog just had such a good post on this topic that called “Money Doesn’t Matter if Everything Else Sucks.” It is annoying to hear those lazy, sweeping generalizations about how money can’t make you happy. It can, as you point out, make you very happy when you need a new kidney and you have to pay the doctor. Or go on a family vacation. We all need money. The root of the matter about how much money you need, for what and why, is so much more nuanced. When you are someone just wants to be happy and take care of your family but not be a slave to money or to your job, it’s nice to read thoughtful musings on this topic instead of tired money cliches.
I will have to go check that post out
“The root of the matter about how much money you need, for what and why, is so much more nuanced” – 100% agreed, this is where people need to figure out their priorities and what actually matters to them. I don’t think people spend much time on the “why” – Amanda has a good post on it http://z8zqd.hosts.cx/know-your-why-goals/
Thanks for the comment!
Just to get things straight, beer is a bare essential, right?
Not having to go to work makes me happy. Money that’s invested and working for me is what makes that possible. So money makes me happy 🙂
Great post!
Beer is an essential – not even on the table for debate in our house 🙂
That is sound logic if you ask me
Thank you!
I don’t know which of the 5 I’m sick of hearing myself. I’m guilty of saying them all each month too. I think the “Need more” rings true the most. It isn’t just for money, but also we always need more time since life is so busy, etc.
I like the Dumb and Dumber quote, that movie is so juvenile yet so timeless.
Could definetely use more free time – and that is where my whole FIRE path started (or at least the path where I work for myself and not someone else)
it is timeless – wish they wouldn’t have made the second one
Very sick of the money does not buy happiness one. Yes it doesn’t buy actual happiness, but it removes the distractions and anxiety allowing me to do the things that make me feel happy. So yes at least to some point my first x dollars do bring happiness. I can’t imagine being happy and homeless being a common grouping after all.
Yep – it makes a whole hell of a lot of things much easier when managed and deployed with thought.
Thanks for the comment!
AWESOME post. Learning the truth about #1 was vital for us; we didn’t have a money problem, we had a money management problem. Also, Rich Dad Poor Dad was vital in teaching us that money is out there in abundance for those willing to go out and work for it.
#5 is another biggie. The actual verse goes that the “love of money” is the root of all evil. When we put money up on a pedestal it made our lives hell. When we started treating it as the tool that it is instead of giving it more value than it deserved, we began managing it better. Great words. Keep up the good work!
That was one of my first PF books – “Pay myself first? – How does that work?” – took awhile for me to figure it out and realize we could actually do it on our current income.
Thank you! Appreciate the comment
Another classic is ” It’s only money” invariably after spending too much at the shopping mall and looking to lessen the guilt.
Regarding #1, I would say if people added “time” or “freedom” to the end of the phrase, some things may actually start to click with them. ….
Thanks for the comment Mr. Pie
I like the idea of switching it up to Time or Freedom, would put a smile on my face
Great points! I agree with #2. Even small amounts can make a difference over a few decades!
As another point, these days it is easy to set up an online business with little upfront costs.
Very true on the online business front, start up costs are small and there aren’t any barriers to trying
Thanks for the comment
I strongly agree with being tired of hearing “Money can’t buy me happiness” and “money is the root of all evils.” I’m going to quote Kevin O’leary here, “I’ve been rich and I’ve been poor, rich is better.” Money can certainly buy happiness. Studies show experiences give us more happiness than material things. How do you have meaningful experiences? Money. I’m not saying it’s the end all be all, there are things in life that are more important than money but money has to be at least in someone’s top 10 list of priorities in life.
Kevin O’Leary cracks me up – I think its a whole hell of a lot easier to be rich than poor – especially if you focus on the freedom vs the money.
Definetely in my top 5
Great post, AE! I love your takeaway: “These thoughts bother me because people are giving money more power than it deserves. If you let it control you, it will. It may just be numbers on a screen or a bill in your pocket, but it can trick you into thinking it owns you and your decisions.”
So much truth in that statement, it’s amazing how much control we cede to money, and to mass marketing messages!
Thanks MMM – absolutely, don’t give it power over your decisions and those marketers are damn good these days! So easy to spend
My great aunt used to say, “If the only problems you have are ones money can solve, you’re doing okay.”
I think this is true to some extent–money can’t fix broken (literally or figuratively) hearts, destructive habits, illness and injury, and fractured relationships, but it can allow you find the tools and people to help.
I thinks its true to a certain extent as well – definetely can help find support, and if you can afford it – high end expert support for those more serious problems.
Thanks for the comment
Ha I love the Dumb and Dumber quote, that’s a good one.
I like #2 and agree it is a bit of a chicken and egg situation. While it certainly takes money to make money, everyone has to start somewhere. To me, it means do what it takes to get ahead early, start saving, and then let that snowball build up momentum. As you get more, you make more and more…compounding is a great thing.
Thanks Mr. AE!
Thanks Mr Swan – you strike me as a guy that enjoys a good Dumb and Dumber quote
For sure- put in the up front work and hopefully it will get moving without you.
You have summarized it well, AE! Money may not buy happiness – however, it certainly helps afford comfort when you feel miserable :).
Thanks Michael – it buys beer, that is liquid comfort
The LOVE of money is the root of all KINDS of evil, according to 1 Timothy 6. Money is not evil, it’s a thing! The love of money, the inordinate desire for more of it leads to all sorts of evil desires. eg. lying, cheating, anger, jealousy, etc. True enough.
Money and happiness is an interesting one too. Poverty makes for a miserable life, but I’ve always thought that once your basic needs are being met, more money means a different lifestyle, not necessarily a happier one. You can be happy at various levels of wealth and miserable too! That suggests that happiness is perhaps more related to other psychological factors like one’s contentedness with circumstances, attitude, sense of hope, thankfulness for what one has, view of self, God, etc. So I’d still go with the money doesn’t guarantee happiness line….it may make you happy, it may not. But happiness has to do with way more than just money. Thanks for your thoughts.
Luke.
I love the Dumb and Dumber quote. I remember when I use to buy things that I thought were essential and in the long run were such garbage. I wish I had that money back or better yet I had invested that money in the stock market. Preferably during the Great Recession when the market was at it’s all time low.
Thanks for cutting through the excuses and telling it like it is!!!
I’m sick of hearing “the rich get richer” and “the system’s rigged.” You said it – money’s a tool. If you don’t like how much money you have go do something about it. Great post.
Great post!
It’s pretty scary how easy money controls everyone. When you can see money as a tool, stay unattached and make that money work hard for you – that’s when I found it was much more fun, secure and stress-free!
Though that point of doctors only accepting money for payment.. Yeah, money is the only thing that can fix one of our biggest problems as a couple (fertility/IVF)- that’s a hard fact to swallow if I think about it too much.
Jasmin
Nicely put! Sometimes those platitudes ring hollow when you’re in the trenches fighting for your financial goals. I especially appreciate #2. We used leverage on our house to pay the down payment on rental 1, and a 401k loan to add rental 2. You find a way.
Great list,
Money in of itself is only a tool 🙂
I think for #5 the saying is “the LOVE of money is the root of all evil”
I love #2. It’s true that money makes money but you can never replace ambition or drive. That IMO is what takes you to the next level.