Money Doesn't Make You Rich. What then?

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Every person wants and desires to be rich but in reality, not everyone is rich and not everyone will be rich. The world will still have a lot of poor people as well as a good number of persons who feel they are rich whereas they aren't. Did that surprise you? Don't let it! However, not that I'm being negative nor harsh and neither is it a curse but it's just the bitter truth everyone of us should know. It is then incumbent on you to decide on which side to belong - the rich or poor side.


Why did I say so?
Again, we will continue to have poor people and people who are seemingly rich because a lot of persons are yet to know and understand the concept of wealth and being rich. Being rich is not what it seems or what it appears to be to many people. If you get to ask people what being rich is, I bet you'll have a greater percentage of respondents answering that "being rich is tantamount to having lots of money." But this is fallacious and partially correct.


Truth is, you need more than just lots of money to be rich and going deeper, RichDad asserts that money doesn't make you rich and I concur. You see, one can have lots of money yet, he is not rich because he could be living in serious debts and/or paying high taxes as a result of buying lots of liabilities.


One may ask, what then do I need to be rich? Here's the answer! What you need to be rich is a high financial IQ or financial literacy. In addition, financial literacy which is the key to financial success begins with understanding your personal financial statement. This entails understanding assets and liabilities.


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Why financial IQ?
This is what determines whether you are/ will be rich or poor. The level of a person's financial IQ is seen in how well or badly he utilizes available funds. In the world today, we have two categories of persons and these includes; those with high financial literacy and those with a low financial IQ. A person with a low financial IQ only thinks of spending and eventually ends up buying liabilities whereas a person with a high IQ financially thinks of investments and true assets which in turn generates more income either daily, weekly, yearly or monthly as the case may be.


For instance, give the same NGN 10,000,000 to a person with a low financial IQ and a person with a high financial IQ. Watch and see the vast disparity in the utilization of that fund by the two parties. Years to come, the former might likely come back broke while the later must have gained a high level of financial freedom through his investments. So, it's not entirely about the amount of money you have rather the Crux of the matter is how much you are able to keep.


You might be a high salary earner but try not to be satisfied with that. Look at the bigger picture, your salary doesn't increase daily but your bills and needs does. Also, your children are growing and could be increasing in number which equals more bills yet your salary isn't growing at the same pace. Need I remind you that your retirement day is fast approaching? Oh! You'd use your pension but would that be enough? Think investments! Don't wait for a soothsayer to tell you that.


With this few points of mine, I hope I have been able to convey the message that money doesn't make you rich but financial literacy does. How do you get financial literacy? Sadly, this is not being taught in our conventional schools but you could read books by proven authors and get to understand the concept of wealth as well as investments.


Ndianabasi Tom

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21 comments
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Money is money, but property is another thing entirely. You can be rich with 0$ in your bank account.

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So many good and valid points you raise in this article. It takes time and an openness to learning to begin to develop financial literacy. I'm still working on it to this day.

Two great songs played by The Beatles;

Money Can't Buy Me Love

& a cover

Give Me Money (That's What I Want)

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Good thing is you are learning. Financial literacy is very necessary; a lot of persons are lacking in it.

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Thanks brother for this well thought-out views.

How do you get financial literacy? Sadly, this is not being taught in our conventional schools but you could read books by proven authors and get to understand the concept of wealth as well as investments.

Financial literacy which leads to financial intelligence is the way out of poverty. Wealth is never tied to having/lacking money but the ability/deficiency in utilizing money.

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Exactly! Funds not well utilized will eventually lead to lack whereas funds well managed brings wealth. So, to be financial free at least to some extent, one needs to possess the knowledge of how well to put available funds (no matter the size) to use.

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I believe in financial literacy too, I have come a long way in the last 8 years learning how money works and I am still learning. We live in a world where its unfortunately become complex to handle and most people switch off and choose to put their heads in the sand or think what they did or what their parents did will continue to work today

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Anyone who wants sustainable wealth ought to be interested in being literate financially. Without understanding how money works, you may end up poor. There are no two ways about it.

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Many people lack that financial literacy and is keeping or preventing them to be rich

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Great points and I have learned something new! I didn't know about the term "financial IQ", but I understand the concept...

And the goals are changing as a person is getting more mature... When I was younger I was dreaming about having a lot of money, but getting older, I have lower my expectation... lol... That is probably clash with the reality... :)



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Glad you learnt something. It's important that we change our mindset and mentality as we grow in age.

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You are right about that! Getting old sucks! :)

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It doesn't suck

It's just a necessary stage of life

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Love this! I was blessed to be brought up in a wise household with two parents who taught me the Financial IQ way of thinking so I learned the value of how to handle your money...

Now, of course as I got older, I still made stupid decisions (as we all do!) that I certainly wouldn't make now. Even though my income is low, I have a savers mentality as well as investing in crypto. It really is a mindset....

I have a small emergency fund in place as well as, which gives me extra peace of mind & actually makes me feel "wealthy" because I am prepared for life's curveballs (which WILL happen, not IF it happens)...

I enjoyed this post! Thanks for sharing your wisdom with us. 😄🧡🧚🏼‍♀️

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Thanks for your kind words. I particularly love the "emergency fund" concept. You see, uncertainties will always come and we need to be prepared for it.

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Nice post @tomlee! It gives us lots to think about. Certainly it is not about the amount of money that anyone has that makes them rich. To some more is not enough ... like tomorrow never comes ... It is best to get in front of the money. Pay off all the bills, save some, invest some, enjoy a little but most important is to stay ahead. Be generous and give. The more that you give without the expectation of a return the more will flow back in your direction. Sounds strange I know but it is true. It is part of branding. How do you want people to see and think of you? Are you needy asking for help all the time or do you have something of value that everyone needs? I look forward to sharing strategies for success with all of you.

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The more that you give without the expectation of a return the more will flow back in your direction.

Doesn't sound strange to me. Givers never lack says the Bible.

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This post has very good and important points

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Thanks for your kind words

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