4 Things to Rethink about Money
“Can’t buy me love,” the Beatles used to sing. Even so, many people have certain notions about the almighty dollar that tend to drive them crazy. Here a few thoughts to help reframe the way you think about money.
Money is Real
That’s true—and it isn’t. Of course, paper and coin currency is what you use to pay for goods and services…it’s a tangible item you can hold in your hands, and put in the bank. But did you ever stop to think that at its core, money is literally just paper backed by your trust in the government? It used to be guaranteed by gold and silver, but that’s no longer the case. Money has a fluctuating value that goes up and down with a variety of conditions, such as the domestic and international markets. Moreover, many people assume that their value is based on how much they make, but this is only a number that represents what someone is willing to pay you for a particular service.
Money is Evil
True, money has been used to commit some acts of dubious morality, and funded some pretty nefarious causes. But money has also funded beneficial projects that have helped out humanity, such as medical research, environmental sustainability, and programs to help the hungry, homeless, and impoverished. It really depends on what they money is used for, which of course, goes back to the person who’s using it.
Money will Make me Happy
People always think that they’ll be happier when they have a certain amount of money or a particular income, but that usually isn’t the case. The fact of the matter is, the more money you make, the more you tend to spend, because standards of living naturally increase with a rise in salary. Moreover, once people get in the money-making mode, they tend to want more and more, even if they don’t need it.
Debt Must be Entirely Avoided
There some kinds of debt you don’t want to fall into, like credit card debt and money that you need to pay back to friends. Taking out a loan on a vehicle can also result in ownership of an item that depreciates far below the value you borrowed for it. But there are other things like a home, an education, or a business that often necessitate borrowing money, with the end result of obtaining something (a degree, property, business income) that will eventually surpass the dollar amount you took out.