5 common money misconceptions

Written and accurate as at: 14 September 2020

Your money beliefs can be protective or liberating ideas, thoughts, or opinions that you hold about money—often shaped by your life experiences, education and relationships (and your interpretation of these things).

Importantly, these beliefs can influence your financial attitudes and behaviours, which can, in turn, influence the prospect of accumulating more money (and creating wealth), now and in the future.

However, a key point is that these beliefs are ideas, thoughts, or opinions—not necessarily truths. By identifying and replacing unbeneficial or undesirable beliefs, you can develop a healthier relationship with money.

With this in mind, in this animation, we illustrate five common money misconceptions—one of which is ‘More money = More happiness’.