What Does Money Mean to You?
pic by Muffet @ Flickr
Money is the root of all evil.
It takes money to make money.
A penny saved is a penny earned.
We are living in a material world and I’m a material girl.
These are all common expressions that teach us what money means. Most of us agree what money is, but none of us agree on what money means.
We all have our approach to making and spending money, as well as an opinion on people who make and spend money.
These beliefs affect our personal and our global economy, believe it or not. Obviously they affect your own bottom line, but as these personal beliefs turn into group beliefs, the meaning of money can literally change the world’s markets.
What does money mean to you?
Here are a few common beliefs about money:
Freedom
For some people, money is a way to be free. When you are financially free, you don’t have to carve out a third of your life working for someone else, or doing whatever a boss wants.
Power
One of the big motivators to earn money is to gain power. Money–and the things you can buy with it–make you feel important and powerful. The ability to make others wealthy–or poor–is another manifestation of this power.
Success
Using money as a sign of success is similar to using it as a totem of power. For people who define money in terms of success, money is simply a way to show their accomplishments and a way to prove wrong those who belittled them at one time. (Drive by a high school reunion some time and count the number of Lexus and Mercedes Benz cars in the parking lot.)
Security
Money can offer security, too. It can be a form of protection against poverty, starvation, and horrible jobs.
Help
Money can also be a way to help people or causes you want to advance. This form of meaning manifests in charities, philanthropies, and religious and political causes.
So what does money mean to you? Do any of the above categories describe your use of money, or are there other ways to express your money beliefs?
I'm George Ulmer. Matt and I started this blog and launched the Online Investing AI business. Our goal is to develop the technology to allow anyone to retire after working for 10 years.
is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
I used to be a staunch believer that money’s greatest value was it’s ability to provide freedom, but now I’m much less certain. As life has progressed, I’ve seen too many people who had a lot of money but weren’t free and a healthy number with little money who are as free as anyone can be in a world of limits.
As to the people with money who aren’t free, I think that’s because they traded one master for another, and money became the be-all and end-all of life. Sadly, when you have money, no matter how much it is, it’s never enough.
The Bible says the LOVE of money is the root of all evil; that hasn’t changed in 2000 years!
That’s true, Kevin.
Money can make you free. But free to do what is a totally different question.
Money, ultimately, is just a tool to discover that meaning. It’s not the meaning, in and of itself.
I like the one, a penny saved is a penny earned. I created one that I use in my ebook … If you make saving money a part time job, you won’t need to get a part time job to save money.
If people don’t learn how to handle their money, it doesn’t matter how much they get. Many lottery winners go broke quickly.
Dave Drew
Money Saving Author, Change For Us