7 Money Lies About Money You are Believing Right Now (#298)

Financial Advisors Say The Darndest Things

In today's episode, we visit an article by Dr. Art Rayner that discusses the seven lies teenagers believe about money. This episode is crucial for parents, grandparents, and young adults alike.

Therapists often say that how we think and act today is influenced by our upbringing. With busy work schedules and school activities, monitoring our kids 24/7 is just not feasible. Even as our children grow into adults and have kids of their own, it's impossible to oversee every aspect of their lives.

But who gets most of their time? Their friends and cell phones. These devices bombard them with overwhelming information, forcing them to learn how to process and distinguish between right and wrong. This discernment comes from discipline, responsibility, and a willingness to follow the word of God, regardless of what their friends or phones say.

One area that can create a significant gap between you and your child is money. They are developing money scripts that they carry into adulthood and pass on to their children. If they accept these scripts without questioning, we could face another generation of financial illiteracy.

The first lie is that the Bible doesn’t speak about money. This is easily refutable; the Bible contains approximately 2,000 verses about money, possessions, and stewardship.

The second lie is that money will make you happy. While money can provide temporary pleasure and meet basic needs, it doesn't guarantee long-term happiness.

The third lie is that material wealth equals real wealth. Media often portrays wealth as luxurious cars, houses, and jewelry. True wealth, however, is about being satisfied with what you have.

The fourth lie is that the decisions you make now don’t matter. Starting early with financial planning and saving can significantly impact your future financial stability.

The fifth lie is that everything will eventually work itself out. Financial security requires planning and effort, not whimsical thinking. Without planning, you might face financial insecurity in your later years.

The sixth lie is that you don’t need to know much about money. Financial literacy is crucial for managing your resources and achieving your goals. Lack of financial knowledge can lead to poor decision-making and missed opportunities.

The seventh lie is that the little money you have won’t make a difference. Even small amounts can have a significant impact when managed wisely. Understanding this can help you make better financial decisions.

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*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.

article: https://www.faithfi.com/art-rainer/7-money-lies-teenagers-are-believing-right-now-2391

#FinancialAdvice, #ChristianFinance, #MoneyManagement