No matter how many people claim that money is evil, a person performs most of the actions in life precisely for the purpose of generating income. With each generation, more and more myths are forming around earnings. Some of them are quickly dispelled, others deeply rooted in the minds of people. What stereotypes exist today?
Myth number 1. You can earn money without doing anything
Itâs actually impossible to get the treasured amount without making an effort. Even to win the lottery, you must first get out of bed, leave the house and buy a ticket in the store. And then track whether the combination is winning. But the lottery, casino and more â this is not our method.
In any case, income generation is connected with activity. So says Zamir Shukhov, CEO of Global Venture Alliance: âThe most important myth is that money can be earned without workingâ.
Before you embark on any way of making a profit, you should evaluate its effectiveness.
Even if money doesnât come easily, itâs impossible to allow pennies, or even more expenses, to reward hard work, as happened in the example cited by Zamir Shukhov: âOften we see this in our market, it was especially significant when last year there was a hype with cryptocurrencies and with blockchain technologies. Everyone ran, thinking that they would quickly raise money for an ICO and there was no need to work especially there. We bought video cards in order to mine cryptocurrencies. A lot of people got burned on this, because it was pointless to do in volumes of three or four video cards, when large market players were doing this on an industrial scale. People thought, âIâll buy a video card now, put up a farm and somehow earn some money there, but I donât have to work, I wonât do anything, because the money will be flooded by the riverâ. This is the main misconception associated with making money. â.
You can find the source of income only by first evaluating the ratio of the spent to the result.
It is too easy, of course, to not get the money, however, it will be possible to minimize the efforts made by defining the earnings strategy. And do not trust the empty promise of people who insist on the discovery of a new way to easily receive money.
According to Anna Serzhantova, an expert on organizational change management: âPay for our course and start earning up to 100 thousand already next monthâ â this is one of the classic selling phrases for training courses. Many people believe that if several people from the reviews given on the website were able to do this, then they too can. But they do not take into account the general statistics: how many people paid for investments in education, and how many did not.
Myth number 2. Earn money only with hard work
The reverse situation, which is also included in the myths of wealth. The slogan of the Stakhanovites in the modern world has practically lost its relevance. The efforts spent in the period of activity today, are by no means equated to impressive earnings. Moreover, often people who work day and night in heavy production receive an order of magnitude less than a freelancer who works several hours a day.
To generate income, you need not take on excessive duties, but skillfully choose the points of application of efforts, formulate strategies and most importantly, not be afraid to part with your own funds for the sake of obtaining impressive amounts. This is also indicated by Oksana Belyanskaya, director of the PR Factory News Agency, arguing that educated in dogma â money is work, we really earn it very hard. As soon as we begin to look at money as a tool, and not as a goal to which we must go with sweat and blood â everything changes immediately. For example, to earn more, you do not need to work anymore. It is necessary to optimize existing processes, choose the most profitable niches.
Myth number 3. Only children from affluent families become rich
The misconception that extremely wealthy parents are capable of raising millionaires is one of the most common. However, often everything happens quite the opposite: a child, accustomed to luxury, is not able to realize the true value of money, therefore, can not reasonably dispose of them. With one exception to this rule, such as, for example, David Rockefeller, there are thousands of stories when children squandered their parents and began to live in poverty.
Roman Kotov, president of the Kotov Group investment holding company, also speaks about this trend: âThe myth that children from families with good incomes will certainly become rich is scattered by American researchers. At the end of the last century, they proved on the basis of data obtained as a result of many years of observation that the atmosphere of affluence in the family demotivates children. But for some reason, such myths about wealth continue to exist. So they are needed. â
Myth number 4. Only businessmen make good money
People tend to think that entrepreneurs are a special caste whose members have amazing incomes. However, such a statement is not entirely true. Of course, if a person has already taken place as a businessman, he may indeed have some surplus funds. However, many start-up entrepreneurs are sometimes much poorer than many middle-income citizens, since they have invested all available resources in the development of the business..
It is also worth remembering that running your own business requires a number of skills and character traits that are not common to everyone.
This is also confirmed by the words of psychologist Veronika Krainova: âThere is such a myth that itâs good to work for yourself and work badly for your uncle or aunt, and that everyone needs to have their own business. But â in fact, this is not true, and only 5-10 percent of people are able to create and develop their own business. In addition, according to statistics, 8 out of 10 businesses are closed in the first 2-3 years of existence â.
Myth number 5. It is impossible to get high income without connections
Myths about wealth will not do without it. Of course, the availability of people who can come to the aid in difficult times and solve some issues at an accelerated pace is a significant advantage. However, in fact, you can do without connections. Even if you go to the goal will have a little longer, with due diligence it will be achieved.
A person who claims the opposite should be told about the opinion of Roman Kotov: âThe main task of such a myth is to act as a kind of limiter, which supposedlyâ does not allow âa person to realize his potential in the outside world. It is much easier and more pleasant to say to yourself that âI have no connections, and therefore I canât make good moneyâ than to admit to myself that there are not enough professional competencies, language skills, communication skills or self-organization. You must admit that myths about wealth sound much less painful for pride and, most importantly, do not require any action from his admirer â.
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What are the most common myths about wealth and finance? Are there any misconceptions that people often believe, but are not actually true? Iâd love to learn more about debunking these myths and gaining a clearer understanding of wealth management and financial strategies. Please share your insights!
One common myth about wealth is the idea that you have to be born into a wealthy family in order to become financially successful. In reality, many self-made millionaires and billionaires started from very humble beginnings and worked hard to build their wealth. Another misconception is that investing is only for the wealthy. In truth, anyone can start investing with even small amounts of money and grow their wealth over time. Additionally, some people believe that being wealthy means being materialistic or greedy, but wealth can also be used to make positive impacts through charitable giving and philanthropy. Understanding these myths and misconceptions can help individuals make better informed decisions when it comes to managing their finances and planning for their future.