People commonly remark that money is the root of all evil. Nothing could be further from the truth. Like a hammer or a drill, money is a tool… nothing more, and nothing less.
What those same people really mean to say is that money has the tendency to control. This is true. It controls the livelihood of many, where their vitality is dependent upon their ability to accumulate more money. Perhaps they put themselves in a position where they have too many sizeable recurring expenses. Or maybe their lust for cash is so great that it subordinates all other priorities, revealing a potential character flaw. Whatever the reason, it is easy to identify those exhibiting these characteristics.
We might even recognize some of them within ourselves, and that is normal.
The desire for money is not an inherently negative pursuit. To the contrary, wealth accumulation is something to strive for…an admirable goal. It is the purpose and circumstance surrounding its acquisition that leads to its control over us. Do we seek it to support a bloated lifestyle that is causing stress for our family, or do we seek to reach a new height of financial stability and prosperity?
It is a question that can only be answered through deep reflection, and through conversations with those who know us best.
Only when one finds a way to assert themselves over money, are they able to reverse their financial destiny and rise above their self-imposed circumstances.
This can be admittedly difficult, but as with any character-building exercise, practice makes perfect.
Steps to get Started
- Assess your feeling and approach toward money. Do you have a negative or a positive relationship with it?
- Decide what you want money — your tool — to do for you. What do you see its purpose being in your life?
- Implement a plan to put what money you do have to work. Seek ways to accumulate more of it in pursuit of your stated purpose for it.
What about socially responsible investing? I don’t make much, but I’d like to know that the little I have is going to help small businesses that are making a huge difference. I am no accredited investor, but I’d love to be an angel investor or be part of a private offering in order to participate both in the financial and social success of a company. In my experience, non-profits are just non-game changers. How do you suggest I go about getting educated to start investing my own funds (not through a mediocre financial advisor)?
Hi Sara,
Great points/questions. I find that, like most things in life, the key is to just get started where you are with what you have. I too, possess a number of goals for my money, some of which include unprofitable endeavors (non-profit work). My suggestions: self-educate through audio and visual materials. I read a wide range of personal finance-related books, and I listen to a number of financial podcasts. Solutions will come to you naturally as you move toward solving a particular problem.