Pocket Money Wisdom: A Beginner’s Guide to Financial Freedom – Part 2

-

 The Money Truth We Never Learned


Most of us grew up hearing things about money that sounded wise — but in reality, they’ve been holding us back for years. These “money truths” were often passed down with good intentions, but they created a mindset that makes building wealth feel impossible.

Today, we’re going to break those myths and replace them with the truth.


Myth 1: “Money is the root of all evil”
This is one of the most famous money quotes — and one of the most misunderstood. The real saying from the Bible is “The love of money is the root of all evil”.

Money itself is neutral. It’s like a knife — it can be used to cook for the hungry or to harm someone. The problem is not money; it’s how we handle it.

Truth: Money is a tool. In the hands of the right person, it changes lives.

Myth 2: “Rich people are greedy”

Many of us grew up thinking wealth automatically equals selfishness. But in reality, there are generous rich people and selfish poor people — just as there are selfish rich people and generous poor people.

Truth: Money amplifies who you already are. If you are kind and generous when you have little, you will likely be even more generous when you have more.

Myth 3: “If you have money, you must share it immediately”

In Ghanaian culture, helping family and friends is seen as a duty — and rightly so. But if you give away every cedi you earn, you’ll stay broke and unable to help in the long run.
🏆Truth: Help when you can, but prioritize building a strong financial foundation first. You can’t pour from an empty cup.

Myth 4: “I’ll save when I start earning big”

This is one of the biggest traps. If you can’t save GHS 5 today, you won’t magically start saving when you earn GHS 5,000. Why? Because saving is a habit, not an amount.

🩸Truth: Start saving now, no matter how small.

How These Myths Keep Us Stuck

👉We avoid learning about money because we think it’s “evil”
👉We feel guilty for keeping money instead of giving it away instantly

👉We delay saving until we have “enough” — which never comes

Action Step for Today

Take a few minutes and write down 3 beliefs you grew up with about money. Then ask yourself:

👀Is this belief helping me grow financially?
👀Or is it keeping me stuck?

If it’s holding you back, replace it with a new truth.


💬 Final Thought:
Your money mindset is the foundation of your financial life. If you don’t fix the beliefs, no budgeting or investment advice will truly work.


📢 Next in the series:
In Part 3 – Pocket Money Habits: How the Small Things Add Up, we’ll talk about why small daily actions matter more than big, once-in-a-while decisions when it comes to building wealth.


Comments

Post a Comment

Popular posts from this blog

Pocket Money Wisdom: A Beginner’s Guide to Financial Freedom – Part 1

-
Image
Why This Series Matters – The Ghanaian Money Mindset Pocket Money Wisdom: A Beginner’s Guide to Financial Freedom – Part 1 In Ghana, money conversations often happen in whispers. We talk about the price of kenkey, the rent hikes, or the latest side hustle — but not enough about how to manage and grow money. I learned the hard way that earning more money doesn’t guarantee financial freedom. Without a plan, money comes in one door and runs out the other. That’s why I created this series, Pocket Money Wisdom, to share real, practical, and Ghana-style lessons for building financial freedom — even if your income is small. The Ghanaian Money Mindset We’ve all heard the sayings: “ Money is the root of all evil.” “If you have money, you must share it immediately.” “Rich people are selfish.” These beliefs often shape how we handle money without us realizing it. Some of us feel guilty for saving when family or friends need help. Others think saving is pointless unless you earn “big” money. But h...
Read more

Find Your Next Job Through Savings

-
Image
  How I Started Budgeting with Just GHS 200 a Month “It’s not about how much you earn. It’s about how you manage what you have.” A few months ago, I felt like GHS 200 was nothing. I’d spend it in days—on food, data, small wants—and be broke by midweek. I thought budgeting was for people with big salaries. But I was wrong. Today, I want to share how I started budgeting with just GHS 200 a month, and how it changed everything. 💭  Step 1: I Admitted I Had a Problem The first thing I realized was this: I didn’t know where my money was going. That GHS 200 was disappearing faster than I could track. So I sat down and asked myself: What am I spending on? How much of it is  need  vs  want ? Why do I feel broke every week? That moment of honesty was the beginning of change. 🧮  Step 2: I Created a Simple Budget on Paper No apps, no spreadsheets. Just pen and paper. I divided the GHS 200 into basic categories: Category Amount (GHS) Food & Basic Needs 100 Transpo...
Read more

You Need Financial Education Today

-
Image
  You Need Financial Education Today. REASONS  WHY "No matter how much money you earn, if you don’t know how to manage it—you’ll always feel broke." Most people think financial education is only for bankers or rich investors. But in truth, it’s something everyone needs—especially young people, students, and anyone trying to build a better future. I learned this the hard way, and now I want to help you avoid the same mistakes. Here are 5 powerful reasons why financial education should be your priority today—not tomorrow. 🧠 1. It Helps You Avoid Debt Traps Without financial knowledge, it's easy to borrow money without understanding the long-term cost. Mobile loans, credit cards, or even buying things on credit might feel helpful at first, but if you don’t fully understand interest or repayment terms , it can lead to serious stress.  A person looking worried with loan messages on their phone (or a “Debt Trap” signpost illustration). 💡 2. You Learn to Save Befor...
Read more