Ten myths about financial independence and the truth that will set you free. Part I.


Today it is essential to consider several things that some people, especially Romanians, might think concerning how they should think and act about money. These have been observed based on my own experience and different lectures, studies, and books that I have read concerning how to manage finances.


1. It’s good to have some money aside

There is the tendency to think that there is a stash of money that you need to have in some place, generally proverbially thinking about different directions that this money might take.

Supposedly you fall sick, supposedly you decide to open up a business, supposedly you get fired, supposedly you need to have some securities aside for your old age. But the truth is you need to have several accounts separately, and you need to have money for all of these directions and then some more. Therefore, the money for rainy days is not money for retirement. The money for retirement is not money for accidents. The money for accidents is not money for insurance. The money for insurance is not money for vacations. And all of these are not economies. So the truth is you have to have several accounts, separately, in which you have to save money. So, individually, you will have to consider all of these necessities and save for each of them, not for just one goal. “Some” sounds very vague. Be precise and prepared.


2. Loan now, pay later

We live in a fast-forward society that thinks of money as a commodity that can be obtained virtually instantly from a bank, based on the fact that many and each individual are/is employed and produce/s the same kind of money as the day before. So, there is the tendency to liven borrowed money and, hahaha whole experience now is better than tomorrow.

What about always thinking that now is going to be better than tomorrow? The problem with this thinking is that if you believe that your whole life is worth living now, better than tomorrow, it automatically means that tomorrow, for sure, will be worse than today. So the people who work in personal development prefer to do the opposite, to save money and not to loan money. Why? To make sure that tomorrow is going to be better than today. The way that you make tomorrow better than today is to give up something now to receive something better and more significant in the future. There is such a thing as good debt: debt you make to create capital that multiplies and increases in value, but that’s not the kind of debt most people like to make.

Copyright (C) Irina Chirita, 2015
Copyright (C) Irina Chirita, 2015


3. If you recover all the money you have invested in a business, you break even, and that’s a success.

That is false. If you manage to get only the money you invested from a business, that means you have been working for free. But, in truth, in any kind of business, you have to consider all the costs you don’t see. All the expenses in inflation cost of opportunities, and you also have to believe that having your own business might mean making more money than hiring. Usually, this is what some people think. So, if all that you’re doing is just making sure that you get all the money you invested from a business, you should stop before it’s too late. And reconsider the situation.


4. Ensuring the future of the family is the most essential thing that you can do

Of course, you must consider the necessities, needs, and wills of your family, but I will tell you what is even more critical. That is to consider the needs and wants of the audience you are serving. Therefore, it is essential for you to always, always, always think of making your clients happy. If you put in the first place making your clients happy, then the family will enjoy your business. But if you put your family first and think there is competition between the needs of your family and your customers, it means you do not have a good balance between your professional and personal life. Therefore, you are not a good businessman. So stop before you hurt yourself. Change the way that you think.


5. I will pay for this as soon as I have the money.

Don’t make assumptions about the time at which you will make payments. Always have some money aside to buffer the periods in which you are waiting for liquidities.

You cannot make responsible decisions based on money that you assume you will receive in the future. The money you are contracted and hope to get is not money you have earned. So, better wait until you have that money and something extra to make engagements for paying. This is especially true for personal expenses. Of course, we are not talking about big corporations’ finances. We are talking about small business owners, entrepreneurs, and freelancers who have a limited budget and want to make payments as soon as they have money. But making payments as soon as you have money for it means that you might run out of money when there is a situation that causes that necessity.


These have been just some of my personal considerations about financial independence and what some think. I have been reading books, researching, and listening to audio programs for the last 13 years, and I have never found one resource that you have available in this article. Therefore, please consider that you must take all this and verify it in your own experience.

Please come up with your own experience and suggestions by commenting on this article.

Thank you.

Marcus Victor Grant

Copyright © Marcus Victor Grant 2017-present, all rights reserved.

The materials on this blog are subject to this disclaimer.


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