The myths surrounding money are numerous and widely held, especially among the young. It’s a shame, because pursuing myths will lead you astray, waste your time and, taken to extremes, ruin your life. Here are 4 popular misconceptions about money that experience has taught me are more often fiction than fact.
- Money will help me find love:
In my experience with women, they’re not attracted to money. They are, however, attracted to ambition and intelligence, especially when it presents as humor. Everyone’s attracted to people who are self-confident, non-needy, and able to laugh at themselves.
- More money less problems:
Money doesn’t end anxiety. It gives you something else to be anxious about: losing your money. Granted, those without enough money to eat or keep a roof over their heads have lots to worry about. To quote the great philosopher Christopher Wallace better known as Biggie Smalls who said it best “Mo Money Mo Problems”.
- Personal Loan Rates Vary Greatly Per Lender:
Most people think that the rates of different lenders vary greatly. The truth is that usually, lenders would charge only 1% to 5% interest fees. The extra amounts are fees that a lender would charge aside from the interest fee. For you not to be misled, you must always ask the lender what exactly the fees are before you borrow.
- Paying Others First:
Don’t pay others first, pay yourself first. You are taught not to be self-centered but when it comes to money, be self-centered — pay yourself first and bill collectors next. This seems impossible when you first start, but it works like magic once you commit and you will actually see yourself cutting unnecessary expenses and creating more income to meet your REAL requirements.
Copyright ©2016 Jay Colby All Rights Reserved.
Jay Colby 
Interesting
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Thank you!
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It is a pleasure
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The concept of paying myself first took me a while to learn in life. Once I began practice this concept, I felt more in control of my finances – the money I worked for.
Great post! #1 I live by. 🙂
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That’s great & thanks for reading!
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Keep speaking the truth and educating people. I appreciate you, brother. Much love and respect. Peace and blessings. Happy new year–may it be a healthy, happy, and prosperous one.
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Thank you I appreciate that & Happy New Year to you and much success in the new year!
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#FOF #FamilyOverFame
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This is a great eye-opener! Thanks, Jay!
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Thanks for reading!
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Always nice to read about the pros and cons of wealth.
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Thanks for reading!
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My grandmother always used to say that, “pay yourself first” even if it’s just a dollar.
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Jay this is good stuff!
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Thanks for reading!
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Reblogged this on Terminal.
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Wow this actually blows my mind!
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Is there a certain percentage you should pay yourself first?
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I would suggest starting off depending on how much you make, but to start maybe 10 – 15% every time you get paid.
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It’s funny that we have this idea that “when we get our finances straight we will be so happy”. This might help but usually there are so many other things we need to work on, masked by this.
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Hi Jay,
Thanks for the great read. I agree with paying oneself first, and having ambition
All the best.
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Such a great article, debunks a lot of things actually 👍🏻👍🏻
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Thank you for reading!
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Thank you, for sharing your profound thoughts 👍🏻
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Cheers for sharing Jay !
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This Post is really what I need at this Point In time!! Giving the whole emphasis I place on finance’s as a student!! Thank You Sir Jay!!
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So agree with you Jay! Pay yourself first! Then pay off that debt. Add to this money doesn’t buy complete happiness just fills in a gap for a little bit. Great blog! Xo💕
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I agree 100%. Thanks for reading!
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Interesting and to the point. Although, having lived with and without money, I definitely prefer the stress of having money over the stress of having none. I can always give some away, which makes me happy. 😉
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Excellent
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The idea that we can live life on a maxed out set of credit cards is one of the biggest myths. All that does is makes you a slave to a master you chose, but wish you hadn’t. Pay as you go except in extreme emergencies. If you can’t pay it off in thirty days, you don’t need it!
Dwigth
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Point 2 reminded me of Consolation of Philosophy by Boethius. If you haven’t read it, I highly recommend it! That particular section is a conversation between Lady Philosophy and Boethius, a jailed philosopher, where they’re discussing what makes people happy vs. what they think makes them happy and why.
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GREAT POST!
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Thanks for sharing, Jay.
Great thing to think and change in our mindset.
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