The Three Biggest Money Myths

Are we being fooled about money? In this short article, Tom talks about the three biggest money myths we are often led to believe, and why it’s dangerous to believe them.

1. You must have a lot of money to be a good money manager: FALSE.

How did the great money managers develop their skills? They all started small. Skill and amount differs like a pianist and a piano. Some say, “Just let me win the lottery and I’ll show you how good I am at managing money.” Dream on. Jesus said, “He who is faithful with little is also faithful with much,” (Luke 16:10). The skill of money management is more important and valuable than the money itself. God says in Proverbs 8:11, “Wisdom is better than jewels and all that you desire cannot compare with her.” Let me go on to say that good money skills usually attracts more money, but not always. The key is to focus on skill development, not on quantity.

2. Money can be well-managed without hard work: FALSE.

Either you work hard or someone else works hard to grow your money—at least more than inflation. Again Jesus warns us in Matthew 6:19 of three major perils that constantly plagues the wealth we store on planet earth—thief (e.g. con artists with Ponzi schemes), rust (e.g. currency devaluation), and moth (e.g. hidden fees). It’s very difficult to dodge those three dangers, especially during stormy seas. Furthermore, there are all kinds of taxes aimed at those with wealth. For a long time I wondered why Jesus didn’t mention taxes, then it occurred to me that taxes are a form of worship in that we must respect and honour our God-given authorities. I’m all for minimizing taxes and maximizing giving, but at the end of the day it’s better to pay your taxes and be free instead of performing crazy gyrations to be free from taxes. You never know what kind of repercussions come from trying to dodge taxes.

3. Time is on your side: FALSE.

In one of its investment guides, the Royal Bank of Canada tells its clients and prospects that "Time is on your side." Are they right? I think not. Life is short and the older you get the more you understand life’s brevity. Time is not on your side, but it would be great if God was. The problem is that God doesn’t pick sides. The real question is, “Are you on God's side?” How do we get on God’s side? It’s simple, but not easy. God opposes the proud, but gives grace to the humble, (James 4:6). Read His book to find out more—the Basic Instructions Before Leaving Earth. Become part of the minority that follows those instructions and you will find that you will inherit wealth beyond your wildest dreams. The children of the living God have become joint heirs of all things through faith in the LORD Jesus Christ. Simply put, God takes excellent care of those yielded to Jesus.