In 1983 the pop group called The Flying Lizards told us socially what to think about money singing “money…that’s what I want.” Throughout history there have been countless people who have told us what to think about money. Religion has told us that money is the root of all evil…. Although the right reading of the Bible talks about the love of money being the root of all evil. That concept has put people in, kept people in, and made people think they can never live in any mindset but scarcity around money. Swing to the other side of the religious pendulum and there is what is referred to as the “prosperity gospel” which is the concept that God wants you to grow and that lack is not of God.
The entrepreneurial mindset around money is that there are two schools of thought… whether you are living in scarcity or in abundance. Where scarcity will keep you held down and abundance will set you free. Corporations will tell you that there is no limit to the amount of money you should make. The name of the game is to get more, faster…and keep it longer.
What if we stop the circle of monetary thought for a moment and reframed how we look at money and you could see money’s use. Money simply is a tool. It is a tool we use to pay bills, to purchase things, to save, to invest for a better return, any number of reasons, but ultimately, it is a tool in your toolbox, that when used thoughtfully brings abundance. If one chooses to use it flippantly, having a lack of money will evidentially come. We must seek to see how money is a tool and it is a good thing.
A Quick Look at The Root
One of my favorite sayings is ‘the fruit is in the root.’ As a person of faith, I understand the concept that “the love of money is the root of all evil” yet how it is presented is where the twist comes in. First off, clarifying what is meant from a biblical perspective is that when somebody loves money more than God, then selfishness can take over. So, whether you are a person of faith or not, the concept is the same… whatever you love is where you are going to invest your time, your money, your skills. If you love money more than God, then money becomes your God.
Secondly, it is a heart issue. For example, if you love money and you give away say 90% and live on 10% your root is generosity. What you give does not necessarily matter. What matters is the root. Where your love of money is rooted and what it is rooted in is the heart of the matter.
Abundance vs Scarcity
This is much too big a concept for this article, however in its simplest terms, scarcity is when you work for your money and abundance is your money working for you. There are people who will say that they have no limit for the amount of money they want to make. The important concept here is that when we live in scarcity, we tend to make irrational decisions based around money, which lead to a downward spiral of other poor decisions. Abundance allows for money to be used as it should be, a tool. Sure, obviously the more abundance you have the more you can do. It is really a balance game and a utilization opportunity.
Putting Money In Your Pocket
Understanding that money is a tool, look at your toolbelt. Rather than taking the no limit approach towards money, create a wealth plan for your money. Decide on a number that will make you happy. A number that allows you to feel good about yourself and about what you bring to the world. Whatever that is for you is yours. Some people will find their number that includes regular trips to someplace exotic. Others will choose a number that allows needs to be met and not much additional. Whatever it is, you have a goal to reach. When you get there, anything more becomes disposable… better… it becomes a non-essential. When you are happy with a certain dollar amount no matter what you have above that is a gift. The most important part of having a tool is using it.