If Only I Made More Money…

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One of the first things people tell me, when they find out I’m a Finance Coach, is that they need to get into investing. They want me to show them how to make some money on the stock market or in real estate. Somehow the idea that trading stocks, flipping houses, or purchasing rental properties is a sure fire way to financial freedom.

That couldn’t be further from the truth. Although many people have made fortunes using the aforementioned methods, many more have lost the family farm doing the same things. For this reason, I never begin a personal finance session talking about investments. People think that their problem with money is an inflow issue. They think, “If only I made more money.” Then they want me to show them how they can make more money and begin to live out their financial fantasies.

I could easily take their money and show them a few simple rules of trade that, if implemented, will most likely make them all wealthy. However, without laying the proper financial foundation, the vast majority of people who have the knowledge to build wealth will never come close to obtaining it.

Jesus said,

One who is faithful in a very little is also faithful in much, and one who is dishonest in a very little is also dishonest in much.
Lk 16:10 (ESV)

Through this truth and observation of those around me, I’ve learned that people who have money problems on small incomes, have money problems with large incomes. I know families who struggle on less than 30 grand a year who are thoroughly convinced that if they made 50 grand, all would be well in their financial house. I also know people with incomes north of 100k who would promise you that if they made 150 or 200 that they would be okay.

The truth is, the person who can’t seem to make it on 30 and the person struggling on 100 are the same person when it comes to financial understanding. Both are under the illusion that they have an inflow problem. Both resort to credit when things get tight. Both are overwhelmed when emergencies strike. If given good ideas on how to build wealth, both will most likely take the advise, make a little more money, and end up worse than they were before. Because they didn’t begin with a proper understanding of money and it’s intended purpose.

That’s the reason I start with showing people how to properly function on the little they have before I show them how to obtain more. Once you understand the wisdom of the time tested and proven principles concerning wealth, you will then be successful at both managing and accumulating money. It’s tempting to skip the understanding part, but having money without wisdom is a recipe for disaster.

Jesus said,

for where your treasure is, there will be also your heart. Mt 6:21 (YLT)

Handling money starts with the heart. No matter how much you can manage to come in, if you don’t have a solid understanding of how to use what you have, you will never be financially free. Learn to do right with little, then you will have what it takes to do right with much.

Peace & Thanks,
Jamel Black
Personal Finance Coach

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