I still remember making the long drive back to the gift shop. It was early March. A relatively new parent, I had taken my 2-year-old daughter out for the evening to aimlessly wandering the aisles (This tale takes place pre-Queen of Free. I’d never advise anyone to browse without purpose now.)
My sweet little, verbose toddler paused to look at an open box of buttons celebrating St. Patrick’s Day. She began to finger them and I quickly reminded her we weren’t buying anything. A few minutes later, we went driving home to settle into our bedtime routine.
When we got home, I helped her unzip her coat, and a round button popped out from her pocket, declaring, “Kiss Me, I’m Irish.” I did what any young mother would do: I panicked.
I was certain my sweet little cherub was doomed to a life of hardened crime.
With haste, we made the short trek back to the store. During the car ride, I explained to her she would need to apologize to the store manager and ask for forgiveness. When we arrived at the store, she marched straight up to the counter and announced, “I took this. Will you please forgive me?”
“Awwww. She’s so cute. Can I give her a piece of candy?” the clerk asked.
What?! No. Great idea, let’s teach her every time she steals, she gets candy. I shoved these thoughts aside and murmured a quick “Not today, thank you.”
That was the last time (to my knowledge) that my daughter stole anything. At almost 17, I think it’s safe to say her life of crime was short lived.
Most of us teach our children early on not to lie or steal. And yet, each of us chooses to lie on some level on a regular basis. One of the most dangerous areas to practice this kind of dishonesty is within our finances.
While we know lying to others about money can lead to criminal offenses, broken relationships, and personal discord, repeatedly lying to ourselves about finances can lead to stagnation and paralyzation. The following money lies I’ve either told myself or heard from the mouths of people who read my website. Learn how to meet them head on with the truth to get control of your finances before it’s too late.
Lie No. 1: We’re already doing everything we can
“We’d love to pay off debt, but we’re already doing everything we can and there’s no way out.” This lie traps the most capable of individuals.
Odds are good, none of us (including me) are doing everything we can. If you still have a streaming service like Netflix or hulu, or have cable, or went out to eat last week, you’re not doing everything you can.
This thought arises from a limited mindset where you’re doomed to remain in the same financial situation your whole life long. An ancient proverb tell us that, “As a man thinketh in his heart, so is he.” In other words, whatever you believe about your finances will probably hold true.
Confront this lie with research. Comb through your regular spending looking for ways you can improve your outlook. You’ll be surprised at how much you can do when you make it a practice to always move toward better money management.
Lie No. 2: Just $100 more per paycheck would solve all my problems
Of course extra funds are never unwelcome in our home. But continually believing that a set dollar amount will solve all our financial problems isn’t healthy or true. You have to fix the root issues at hand.
This lie is best conquered with gratitude. Your financial outlook has more to do with your heart’s orientation toward money than you realize. You may need to add a second job to pay down debt or achieve another goal. That’s fine. But when you begin grasping for more and more instead of viewing what you have as enough, you’ll lock yourself into patterns of consistently longing for what you don’t have.
Lie No. 3: The cheapest/most expensive option is the best
This lie takes two opposite forms but revolves around the same principle. Some of us are prone to convince ourselves that the most expensive product must be the most effective. So we shell out extra cash for name brands over generics and products with a higher price tag.
At the other end of the spectrum, there are those who wear spending the least amount of money possible as a badge of honor. While I love a great deal and would trend toward this tendency, I know that both of these claims are false.
The worth of a product or its effectiveness are not determined by the price. Smart shoppers do their homework when it comes to investing in items. Read the reviews. Compare models and features. Look for coupons.
Sometimes a bargain isn’t really a bargain. And sometimes top of the line doesn’t end up being a top rated.
Acknowledging our tendency to dupe ourselves into believing money lies is the first step toward healthier finances. Pause to identify whether or not there’s any truth to your thoughts, then overpower falsehoods with real numbers instead of feelings.
And if you like, each time you make a wise choice, reward yourself with candy. In this case, it’s totally appropriate.
