Believe in money myths at your peril

By John Kariuki

If you listen to Kenyans talk, you will notice how myths rotating around the issue of money dominate Kenyans’ chatter.

Invariably, one is deemed to be “development conscious” when he or she quotes mind boggling figures about the prices of market commodities, cars, or houses. This information spews forth even when one has no plans or funds to acquire such propriety.

For starters is the habit people have of stuffing bank notes into the tiny fists of newborn babies as a way of wishing them a wealthy future.

Meanwhile, some believe that working away from home, for example, doing menial jobs in hostile foreign capitals is seen as an essential step for one to become a millionaire.

And then there is the myth that it is wrong to reject any money offered as payment for goods and services rendered. And because of this, many professionals and business people continue to cast doubt to their competence by accepting low payment in reverence of this myth.

With such a rich repertoire of money myths, why are pwe not the richest people on earth?

 Personal finance experts say the journey to wealth begins in one’s mind.

But with a myriad of myths that demonise money, more people wpild rather talk about getting money, rather than actually doing it.

 Amassing wealth is a journey where one takes concrete money steps and believes that he or she can make it.

“Getting mesmerised about things that money can buy or property prices and doing nothing about it is a form of idling,” Walter Kinyua, a personal banker, says.

He adds that the financial success comes from taking concrete steps and keeping one’s money goals in sight. Kinyua urges people to read and adopt lessons in many motivational books.

“In these books, many people change their condition by reciting good things several times every day”, he says. He adds, “say and think of good money goals for a week and they will begin taking shape in your mind.”

Kinyua advises people not just to re-arrange and re-organise their finances but also their thoughts as well if they want to amass wealth.

“It is very easy for one to re-think money priorities but unfortunately many people remain stuck in their old thought patterns that don’t create wealth beyond the familiar possessions of their kin and neighbours,” he says.

“Add the stifling money myths to this fact and you have the perfect hindrance to many people’s journey to riches.”

Ms Riziki Kazungu, a Nairobi businesswoman, says that some people’s belief that money is evil is a major hurdle to wealth accumulation.

“Actually I believed so until they day I took a cold look at my finances and decided to revamp my life,” Kazungu tells Shillings&Sense.

But it was only after changing her friends and church that her money began growing.

“It is very absurd that my old circle of friends continue to believe that money —which can feed starving people, clothe and put a roof over their head — is evil,” she says.

With her self-emancipation, Kazungu has been able to sift through the hazy cloud of emotions that used to create a wall against wealth accumulation.

“I no longer view wealth accumulation as sinful or something left to people of dubious characters,” she says.

She points out that lack of money can be a huge burden, which can lead to committing evil. On the other hand, money increases one’s ability to lead a good and secure life.

Kazungu insists that money myths are just that — legends. She says that the bottom line to riches is hard work and patience.

financial success

“I have achieved some reasonable financial success and I can testify that it takes hard work, perseverance and the right frame of mind,” she says.

People should shun all money myths and instead shop around for financial consultancy that can improve their monetary situation. If one finds a sensible plan, he or she should stick to it and is bound to see positive rewards over time.

That being said, get-rich-quick schemes are surefire way to ruin and loss of whatever little wealth one has accumulated.

Just as is the advice from many crooks on the loose who tell people they have won in competitions in which they never registered. The end result in both ventures is the same-your pockets are emptied.

The myth that money is scarce is actually misplaced and breeds lethargy in those who ascribe to it.

There is money everywhere; in fact, it is abundance is all around us. It is just that some people are prepared to seek it out, while others are content to watch and wonder how riches are made.

When one is absolute in his or her dream of obtaining wealth, then there are infinite ways of getting it. It’s all in the mind and not in myths and physical attributes.