When do we think of wealth? What is the first thing that comes to mind? Money? What if I tell you that money is not wealth? Would you believe it?
I had a bright idea a few years back. That smart idea was to kill my debt because I was sick and tired of not controlling my finances. The truth is that my make-believe world of having money led me to this financial mess. One day I realized that money is not wealth.
So what is wealth? What does wealth mean to me? In a previous post, I wrote about wealth and steps to creating a wealthy mindset to control our money and start living. Wealth is value, a mindset to me.
I’m not talking about net worth. I am talking about wealth, wealth to me is more than dollars and cents. It’s about living and enjoying life without stressing over money (if that makes sense).
Let me give you an example: when I worked and was a single mom, I made good money; perfect money. I bought things (stuff I didn’t even need), but I also worked many hours.
Working tons of hours, I didn’t get to enjoy my things; but most importantly, I didn’t get to enjoy time with my daughter as much as I wanted to.
All because I wanted to make that money and have money. I wanted to be wealthy. I didn’t enjoy much of my time, nor did I use my money wisely. That wasn’t wealth at all.
If you are reading this post, you might know of one or more individuals who see money as wealth. Look at our society, for example, we crave money and blame others for not having it. We want the wealthy lifestyle, but not realizing that this is not what wealth is about.
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We are in debt because we want to be wealthy. We have good jobs and can’t seem to keep food on our table. We blame and envy others for not being able to live that wealthy lifestyle we all so crave. The reality is that money is not wealth.
Money Is Not Wealth: 6 Reasons You Have It Wrong
Having money in the bank but have debt
I get that most of us have a mortgage and other loans, but if you have credit card debt and are not making any attempt to pay it off, you are not wealthy. You owe money, and the reason you owe money is that you live above your means.
You are living paycheck to paycheck
Over 70% of Americans live paycheck to paycheck. Can you believe that? No matter how much money you get paid each week or your income, if you are living paycheck to paycheck, there is NO WAY you have wealth.
You depend on and are content with the income you have
Many people think that one income is enough. This is something that I learned recently. Why do we have to settle for one income when we can make money from other sources? Make extra money. I know I do with my blog and other creative ways.
You have a good-paying job, but you can’t pay your bills.
You find any excuse in the book as to why you can’t pay your bills on time. You have a wonderful job, but somehow the cable company or the electric company seems to be “cheating” you and making you pay more than what you owe.
This leads you to underpay your bills. Being irresponsible doesn’t mean you are wealthy.
You are seeking comfort, not freedom.
This is something that many of us don’t see or care to see. We are comfortable with having debt, lots of debt. We are not seeking that freedom that comes with being debt-free and having control of our finances.
You are neither living nor enjoying your life.
If you are working and busting your behind without any financial goals to pay your bills and maintain what you have, you have this wealth thing wrong.
Earning that extra dough to enjoy it in the future, then you have it right. But if you are working long hours, missing your family, and worrying about your bills, you have no wealth.
Do I love money? Yes, I sure do but living the way we live and enjoy our wealth motivates me to keep going. Saving for what we need and enjoy instead of splurging to show off for others.
When you work hard and enjoy life without the stress of finances, then you have true wealth. It’s not always about the money. It’s how you make that money work for you.