Now that we’ve take care of the myths let’s address a very popular statement in wealth building I’m sure you’ve heard many times. Here it is:
IT DOESN’T TAKE MONEY TO MAKE MONEY
1- Your attitude: Yes it is true. It doesn’t take money to make money. You only need a good attitude. With the right attitude you can make any amount of money you want in the world, but with the wrong attitude about money you won’t get it. It’s that simple.
2- Rich not wealthy: The statement is also true in case of being rich as having lot money and being wealthy as having money plus knowledge and experience. If someone who have never studied about money, doesn’t know the value, how to save or manage money suddenly inherits a million dollars, it will finish within one year. When he had the $1m he was rich but not wealthy. He had money but he couldn’t make more from that effectively proving the statement.
3- Not your own money: Wealth teachers use this statement because its true. They say it doesn’t have to be your own money. As my mentor Robert Allen will say, you can buy real estate with no little or no money down. He explains that you can do it with someone’s money. That way it doesn’t take money to make money.
4- Knowledge and experience matters: All in all that is what matters. The knowledge and the experience is what you should strive for first in your quest for making money and acquiring wealth. After that the money will come.