Today, we’re taking a look at (maybe) the single most important roadblock that will stop a lot of people from saving more money and building wealth.
It’s on Page 10 – 11 in Chapter 1 of Dave Ramsey’s Complete Guide to Money.
And here’s my lesson for the day:
You can be rich and good at the same time – you don’t have to choose one or the other.
Chapter 1, titled Super Saving: Common Sense for Your Dollars and Cents, continues on Page 10 with a group of people Dave refers to as “Evil Rich People.“
In this section, Dave talks about many folks who are concerned about being rich, and then having to be evil.
In other words, these people believe that if you’re rich and wealthy, then you must be an evil person. Or that if you’re putting in the work to save money, invest money, or multiply money…
… then sooner or later, you’ll become one of those “evil rich people.”
Which is totally not true.
First off, why are we even talking about this?
I mean, shouldn’t we just talk more about useful tips and techniques to saving and earning more money, rather than get into an ‘argument’ about whether being rich makes you an evil person?
Yes, I agree with you… we should keep talking about those valuable and useful tips for saving and earning more money.
But maybe you’ve noticed, to save and earn money takes work. You have to really want it, and actually put in the work for it, day after day.
In other words, you have to want to be rich and wealthy.
Unless you got an inheritance, won a lottery, or have a trust fund, then you’re like the most of us, or more than 99% of Americans…
… we have to continually think of ways to earn more money and save even more money.
So, if you’re going to be rich and wealthy… and have lots of money in the bank… and be able to afford the things you desire… and be able to financially help others…
… then, you’ll need to put in the work.
And each time you encourage that thought that creeps into your mind, saying “Why am I doing all this work to eventually be rich, if it makes me one of those ‘evil rich people’?”
Then, you’re gradually dragging yourself backwards and second-guessing yourself.
Which will most likely hurt you, than help you be financially free fast enough in lesser time.
Because if the work you need to do to build wealth is already hard by itself, you might do all you can to remove any extra roadblocks on your way, so you don’t pile on additional (unnecessary) thoughts / work on yourself.
So, here’s the deal:
You can be rich and good at the same time – you don’t have to be one or the other.
Having money is not evil or wrong. As a student of the Bible, I know many people misinterpret the verse of scriptures which says:
For the love of money is the root of all evil [1 Timothy 6:10].
These people misinterpret this verse of the Bible to mean that: anyone who has money is evil or has to be doing something shady or bad.
Which is simply not true.
Money is simply a tool. You decide whether to use it for evil or good. That’s right – you decide.
You have the power… you have the control in your hands.
When people love money, the money controls them… rather than them controlling the money.
In that case, the money is no longer a tool that’s being used… no, the money is now using the owner. Which, you and I can agree, is a problem.
But is money the source of that problem?
No, the source of that problem is the owner of that money.
Dave says: “It’s the love of money that’s the problem – and that’s a human problem, not a money problem.”
So, don’t hold yourself back by thinking it’s bad or evil to want to be rich and wealthy.
See: It’s actually good to have money and be rich.
In fact, when you get your wealth the right way, it often means you’ve actually solved a problem (or hundreds of problems) for lots of people.
Jeff Bezos, the founder of Amazon, is currently the richest person in the world (with present worth of $113 billion).
The question is: how did he get there?
He got there by solving a huge problem for you and I.
By bringing together in one place, hundreds of thousands of items we use every day – books, music, kitchen items, household appliances, gardening tools, kid’s toys, magazines, and on and on.
He not only brought these items together in one place, he made it so convenient for you and I to order them right from our kitchen table, and get those items delivered to our homes, without having to step a foot outside our doors.
Even more, he offered free shipping for hundreds of thousands of customers (through Amazon Prime), and focused A WHOLE LOT on making his customers happy (sometimes returning your money if you complained your items didn’t deliver, and so forth).
You see: Bezos made his billions of dollars this way, and he’s built lots of wealth for himself and a host of other people.
So, does this make Bezos an evil man? That because he’s rich, so he’s evil?
No. Not at all.
It simply means that: he solved a big problem for a lot of people, and he got rewarded for it.
Bezos has all that money as a tool in his hands. Now, whatever he does with that money is up to him, not the money.
You can achieve the same too.
If you master excellent financial habits, by saving, making, and growing more money…
… you can navigate your way towards financial freedom, and choose to still be a great, awesome person to be around.
So again, money is simply a tool. Once you have it, the power is in your hands to decide how you want to use it.
By the way, it might surprise you that the same way people demonize money and being rich, people speak evil of a lot of other things too. They say:
- “Instagram is bad – it’s causing stress, anxiety, and depression among us”
- “The Internet is making us dumber – people aren’t reading physical books anymore”
- “AI (artificial intelligence) should be banned – it’s coming to steal our jobs”
The truth is: each one of these is simply a tool in our hands. We decide how to use them.
A lot of businesses have built million-dollar revenues mainly by being on Instagram, and social injustice and inequality issues have been addressed simply by short videos going viral on Instagram and Facebook.
The Internet has fostered friendships, saved lives, and saved thousands of people from joblessness, poverty, and lack of purpose.
AI is helping us do many of the repeatable tasks in our work, so it can truly free us up to think critically, creatively, and deeply, so we can use AI as one of the tools to improve our society.
These are tools that a lot of people have used for good… and sometimes, for evil.
This doesn’t make any of these tools bad… it’s not an Instagram problem, or an Internet problem, or an AI problem…
…no, it’s all a human problem.
Same with being rich and wealthy and financially free… that you’re rich doesn’t make you evil, it simply means you’ve mastered excellent financial habits, and have provided solutions to problems that people face.
And I think you should be duly rewarded for that.
So, as you continue on your path to financial freedom and being wealthy…
… remember: you can be rich and good at the same time – you don’t have to choose one or the other.
That’s all for today, my friend. We’ll be continuing in the second section of Page 11 of the book tomorrow.
See you then.