Shattering the 7 Money Myths
by Christina Gage and Shelly Gore
Who knows when it started? For hundreds of years, the misconceptions, the myths about money have kept women from achieving the wealth and freedom that they deserve. The myths have worked their way into our education, our beliefs, our way of thinking, until we mistakenly believe they are true. They limit us, hold us back, and keep us from the abundance and riches that are available right now, to each and every woman.
It is time to shatter the money myths in your life, RIGHT NOW! Break free of limitations, and see clearly and accurately into your own bright, wealthy future.
Your Wealth Image
What misconceptions about money have you learned? Which money myths are you holding onto that are limiting your ability to become financially free?
Just as many women have a negative self image after a lifetime of being inundated with unrealistic advertising that features ultra-slim models, many women also have a negative wealth image from years of being bombarded with the money myths. Having a healthy and positive wealth image is as important as having a healthy and positive self image. One of the most important steps you can take toward your financial freedom and success is to turn a negative wealth image into a happy, healthy, optimistic, limitless, positive wealth image.
As you read on and each myth is shattered one by one, ask yourself, "What is my current wealth image and how have these money myths affected it? How can I turn my negative wealth image into a positive one?" Look not only for the obvious ways that these myths have affected your image. Find the subtle influences, as well. Overcome wealth image "busters" by following the wealth image "boosters" at the end of this chapter.
Myth 1: Prince Charming is Coming
As small girls, we were all told a fairytale, the fairy tale of Prince Charming. As the story goes, Prince Charming, the most noble and handsome man in the world, rides up on his white horse one day, rescues us, and takes care of our every need for the rest of our lives. It's a beautiful story.
We were too young then to have discriminating knowledge about divorce, the death of a loved one, or all the myriad of problems that can come as a result of feeling that a perfect man will come along to make us happy and take care of us financially.
When we grew up, we learned that there isn't a jolly, old man with a white beard at the North Pole delivering gifts, but no one ever came back to tell us that Prince Charming isn't real. As adult women, many of us still subconsciously believe that Prince Charming is real and are waiting for him to save the day.
You and you alone are responsible for your own success and your own happiness. You are the sole cause and creation of your freedom, your wealth and your success. You may have great partners in your life who support your success or who are building their own success with you, but don't make the mistake of waiting for an "other" to make your life work out.
Don't waste your entire life waiting by the sidelines for a glass slipper that will never come. Follow in the footsteps of millionaire women: Create your own wealth, and buy shoes of your own choosing from the Prada Spring Collection.
Millionaire women may end up marrying a millionaire, after all millionaires generally travel in the same circles, but that is not their goal in life. They continue to realize their financial goals in order to incarnate their own passions and ideas. They have the courage and wisdom to live their own dreams.
Are you going to wait forever for the mythical Prince Charming to ride up on his white horse and save your day? Or will you put on your boots, saddle up and ride like the wind to your own financial freedom?
Myth 2: Power and Success Are Not Feminine
Women once believed (and some still do) that to be successful in roles that were typically filled by men, they would have to look and behave like men. Women who tried this approach quickly found that their unique talents as women were stifled. They realized that they weren't bringing their authentic selves to their work. Creativity and passion were lost to "trying to fit in."
Too many women believe that power and success are not for them because they believe that it isn't feminine to be powerful and successful. History has proven that this myth is simply not true. Some of the most powerful and successful women in history were also the most feminine, graceful, creative and classy. Whether they were leaders in charge, such as Cleopatra and Queen Elizabeth I, or behind the scenes women imparting wisdom, insight and guidance, such as Jackie Kennedy, these women embodied power, success and a distinct femininity that radiated from the core of their being. In fact, one might argue that their power and success came from their ability to be perfectly feminine.
Today, women hold some of the most powerful positions in government and business, not to mention highly influential roles in entertainment and other areas. Condoleezza Rice became the first woman to serve as the United States National Security Advisor. Carly Fiorina built Hewlett-Packard into a $48.8 billion revenue generating company as Chairman and CEO. Oprah Winfrey, Princess Diana, Madonna, and Martha Stewart, known internationally by their first names alone, have used their uniquely feminine flair to define excellence, grace, and personal power for today's modern women. All of these women bring their total person to their work, including their femininity - and they're doing it with style.
Believe that you can be powerful, successful, graceful and feminine all at the same time. Study the lives of the most memorable and admired women in history. They each had these qualities. Follow in their footsteps. Find the strength in your femininity and let it shine through.
Myth 3: Money is the Root of All Evil
Men and women alike share the misconception that money is the root of all evil. This myth originates from an incorrect reading of religious texts. With some investigation, however, we learn that the real teaching reveals that "the love of money is the root of all evil."
Money in and of itself is not good or evil. Money is simply a form of exchange for services, goods and time. It is only when people become attached to their money and become greedy that difficulties arise.
With money as a resource, great good can be done in the world. Hungry children can be fed, lands can be preserved for future generations and medical research can be conducted to cure diseases. These are just a few examples. Billions of dollars worth of philanthropy are donated each year by wealthy individuals and corporations to benefit mankind.
Millionaire women reject whole-heartedly the common illusion that money will somehow cause its possessor to be evil or unhappy. They know that money allows them to help others and help themselves. It is the key to guaranteeing a good education and a safe living environment for themselves and their loved ones. They feel the joy of giving to charities and programs that bring hope, promise and tangible benefits to people in need.
What will you do with your newly acquired riches? You may choose to do many wonderful things with money: you can assist others, pay for your children to go to college, buy nutritious foods, donate to your favorite charities or treat yourself to a well deserved vacation. The possibilities are endless.
Don't buy into the illusion that money is the root of all evil. Allow yourself to dream about all of the wonderful things you will do with your money, and let these dreams drive your success!
Myth 4: Money Can't Buy You Happiness
Okay, so it's true. Money alone can't buy you happiness. But, neither does poverty. If you can choose (and truly it is your choice) between the bondage of poverty that leads to a life of stress, worries and limitations, and the freedom of independent wealth that leads to a life of abundance and opportunity, which would you choose?
Happiness can't be bought, but having the freedom that wealth brings sure makes a big difference. Now, in no way are we suggesting that you will be utterly miserable without money, or that having money guarantees happiness. Life is full of ups and downs, and real happiness ultimately comes from within. But why choose poverty when you don't have to? There is so much abundance in the world. There is enough wealth for everyone who wants it. Why not choose wealth? You deserve it.
One way that money is sure to bring you happiness is to use it in philanthropic ways. Give back at least 10% of what you earn to your favorite charity or humanitarian organization. Being part of something that is bigger than you could ever be alone will surely bring you indescribable happiness.
Myth 5: A Million Dollars Is A Lot of Money
Is a million dollars a lot of money? That all depends on your vantage point. Multiply your current annual income by ten. Now compare that number to your income. Doesn't it seem like such a small amount? All you've done is add one, small zero to your paycheck.
A million dollars is only a lot of money to person who thinks it is out of reach, beyond her grasp. It is all about perception. The wealthy focus on possibility, not limitation. They don't buy into the mystique wrapped around the word "millionaire." If you believe that a million dollars is unattainable, then it will be-for you. Likewise, if you believe that it is only a matter of time before you count yourself among the self-made millionaires, then it will happen exactly that way.
Believe that you are already a millionaire and that your check has just not been deposited yet. Write yourself a check for one million dollars, postdated for the day when you will achieve this. Allow yourself to think BIG. Carry your check with you always as a constant reminder of the success you've already achieved.
Myth 6: I Grew Up Poor, I Will Never Be Rich
The past is history! The circumstances of your life up until right now, this moment, are in the past. Maybe you grew up poor, disabled or you were discriminated against. We have all faced challenges of some sort along the way. Now you can pull on your inner fortitude, your strength, to create a new, richer life for yourself.
The first self-made millionaire woman started out as a wash woman in the South in the late 1800's. Madam C. J. Walker was a woman of color in a time when women and minorities had little hope for independent and wealthy lives. She had to overcome many obstacles that existed during her time. She was born just after the end of slavery, and was orphaned by the age of seven. She suffered discrimination and the limitations of a time in history when few had many opportunities. But did that stop her? Of course not!
At the age of 38, Madam C. J. Walker invented a treatment for straightening hair. She started with door-to-door sales of her product, and five years later she built a factory in Indianapolis that employed at least 3,000 people to manufacture her line of cosmetics. Madam C. J. Walker amassed a fortune against all odds. She became a savvy businesswoman, an inventor and an extremely generous philanthropist.
Madam C. J. Walker spoke of creating success on her own terms at a National Negro Business League Convention in 1912: "I am a woman who came from the cotton fields of the South. From there I was promoted to the washtub. From there I was promoted to the cook kitchen. And from there I promoted myself into the business of manufacturing hair goods and preparations....I have built my own factory on my own ground."
How will you build your own success on your own terms? If Madam C. J. Walker can do it starting from extreme poverty, so can you - regardless of your circumstance! She didn't start out an entrepreneur and a philanthropist. She became one. In the same way, each and every woman can achieve greatness and success by leaving the past where it belongs and focusing on a future of opportunity.
Myth 7: There is an Unbreakable Glass Ceiling
For years, there have been inequality and barriers for women in the workplace, commonly called the "glass ceiling." Thanks to the dedicated effort of individuals and women's organizations, women are quickly rising to the top in corporations across America, and the wage gap is narrowing every year.
Women have proven their worth and have been given some of the top positions in corporations. Andrea Jung, Chairman and CEO of Avon, revitalized a declining Avon in a way that none of the former CEOs (all of them men) had been able to do. Since Jung took over the top role, Avon's revenues and its stock price have skyrocketed. Jung and many other executive women are living proof that glass ceilings do break.
What do you do if you find yourself looking up at the glass ceiling? You have two options. You can break through it or you can step out from under it.
If you choose to break through the glass ceiling, use all of your unique talents, and really go for it. Read the biographies of women who have won senior executive roles, and choose corporations where women are in top positions. Find great mentors to guide you. Climb the corporate ladder with determination.
If you choose to step out from under the glass ceiling by working for yourself, you will live in a world where you have an unobstructed view of the sky. Recent statistics from the U.S. Department of Labor report that more and more women are branching out on their own at a rate of 2:1 compared to men. J K Rowling, the single mother who wrote the wildly popular Harry Potter books, followed her passion and has become a millionaire entrepreneur with several books, a movie and spin-off products.
The "go for it" corporate approach and the entrepreneurial path each have their unique challenges, but both are based on the fact that we are living in a time of abundance and opportunity, not limitation. Study people who have overcome limitations, real or imagined, to obtain success and freedom. Stay focused on your success and live in a world where the sky is the only limit.
Shatter the Money Myths Forever
Recognition is liberation. Exposing the money myths to the bright light of possibility, awareness and a world without limitation creates freedom and success. The money myths for women are hereby shattered and you have the permission to grow beyond the limitations of what you've learned in the past.
This is the first step, the first secret to your greatest success.
Wealth Image Boosters
* Create your own "fairytale" life by making your financial goals a reality.
* Be your most authentic, feminine self, and own your power and success.
* Instead of becoming attached to money, use your wealth to help others and yourself.
* Choose wealth over poverty…because you can! Then become happy by philanthropic giving.
* Millions of dollars will be yours if you believe that you can do it and you deserve it.
* The past is history. Focus on becoming the millionaire that you are.
* Shatter the glass ceiling by knowing that the sky is the limit!
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