Aug 03, 2015


3 Common Myths About Money

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How you treat money, how you spend, how you save (or don’t), why you buy, how you treat what you buy…it’s all in your head, Mujeres.  Suze Orman said it best, 80% of how you deal with money has nothing to do with what you do so much as it has to do with what you think.  Don’t believe me?  Try these comments out for size:

  • I’ve worked really hard this week, I deserve this _______.
  • If I only made more money, I would start saving.
  • I’ll just put this on my credit card and I’ll pay it off a bit at a time.
  • Sure, I’d like to apply for the store credit card!  I’ll save so much money with the coupons!
  • When my tax refund comes in, I’ll pay off ______.
  • You only live once, and you can’t take it with you!
  • I’m married, and I don’t really understand finances…he’s got it under control.

We all have a little voice inside our head that guides us through our decision making.  We get so used to hearing that voice, letting it guide us, that we start to believe that the voice, no matter how destructive or misleading, is our truth.  That little voice is the same little voice that convinces us that we can’t reach our other goals…a healthier lifestyle, more fulfilling relationships, professional success…it tells us we’re not good enough, we can do no better, this is as good as it gets.  Sometimes this voice is a voice of our past, like a family member, perhaps a parent or a grandparent, an aunt or uncle.

Whatever the voice, you have the power to change it.  You have the power to change the VOICE.  You have the power to change the MESSAGE.

Common Money Myths

1.  “I can’t afford to save money.”

You can’t afford to NOT save money.  Sometimes saving money means making some really tough choices, but consider the consequences of not being prepared for an emergency?  If you are already on a thin budget, you’re not saving, and an emergency arises, you will find yourself at the mercy of predatory lenders.  Predatory lenders include payday loans, title loans, cash advances, and pawn stores.  Some of these loans slap you with interest rates of over 200% APR and rope you into an endless cycle of borrowing.  If you feel as if you can’t afford to save money make sure you’ve left no leaf and no rock unturned.  That might mean roommates, moving home with la familia, or taking on an extra job or two.

2.  “If I had more money, I could solve my money problems.”

The truth?  If you had more money you’d more than likely be in exactly the same spot you are now, just with bigger piles of debt.  A spender doesn’t become a saver just because they have more money…they become spenders with more money to spend.  Mo’ money, mo’ problems wasn’t just a throwaway phrase, it is pure unadulterated truth.  Your goal is to learn how to make the most of the money you have right now.  I guarantee you that, if you learn how to manage what you have now, it will open you up to monetary gains in the future.  And you can take that to the bank!

3.  “I’m just not good with money.”

This is both a lie and an excuse you tell yourself.  You choose to not be good with your money because you can hide behind the idea that money management is a skill that you’re incapable of learning.  The scarier part?  You’re allowing yourself to play the victim and get away with it!  Money management isn’t this genetic skill you either have or you don’t.  It’s a decision to take charge of your money rather than letting your  money take charge of you.  So, what’s it going to be?


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Adrianna Domingos-Lupher

Adrianna Domingos-Lupher

Adrianna Domingos-Lupher, MA, is an Accredited Financial Counselor and proud graduate of the University of North Carolina at Chapel Hill. She is a military spouse and mami of two who is constantly reinventing her approach to career and family life. She is the owner and writer at Military Money Chica and the Co-founder of Military Spouse Bloggers. On her personal blog, Military Money Chica, she seeks to empower military spouses to make the most of their money, family, and the military experience with a sprinkling of Latina sabor. Military Spouse Bloggers is the first professional network and agency that seeks to help military spouses build a portable and sustainable career in new media.

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  1. Adrianna what a wonderful article!!! Totally truth, everything is in the mind. The sense of not having and the sense of having is a projection in our lives. I had to work in my thinking to get back in success in my business. Thanks!!!! Karmen

    • Karmen, I’m so glad you took something away from this piece. The truth about truth is that it’s hard to own your role in how you perceive the world around you and how it impacts your life. I wish you the best of luck in your business endeavors! There is power in empowerment!

  2. Thank you for this blog. It has a lot of great information and some great contributors. Adrianna I hope you keep writing more blogs like this one. I appreciate you sharing this with the rest of us Adrianna.

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