This topic is an age old debate.
- Is money a symbol of success?
- What does it mean to be financially successful?
- Does money make you successful?
- Money is the only measure of success, right?
- Success is not measured by money, correct?
The question only look to more questions.
And honestly, those deep-thinking questions are the ones that leave us feeling the most vulnerable and difficult to articulate.
That is why the success is money debate will be hotly contested at any happy hour, break room, or phone call.
Let’s dig into various sides of the argument, so you can make a wise decision for your life.
Just a hint… this topic show many shades of gray and might not be as black and white as you want.
Why is success Measured by Money?
There are many reasons why money is associated with success.
The primary reason is people deep down truly believe that money will change their situation. More money = more happiness. Isn’t that the quote we all grew up on?
Next, measuring success happens in two ways. The things that are tangible like money, assets, cars, houses, jewelry, etc. The other way of measuring success is intangible – something that you can NEVER value even if you tried.
Money opens doors of opportunities. You get to decide what equates to success.
That is why most people judge money success.
No matter how you spin it, money opens opportunities that weren’t available before. That is the final reason why measuring success with money happens.
Is Money the only Measure of Success?
Honestly, absolutely not.
However, one of the best ways to measure progress is with numbers. That is the reason so many people rely on measuring success with money.
Your financial success nonetheless is NOT the only measure of success.
There are many variables that go into your equation of success. Some to consider include:
- Choices to do what you want
- Ability to give back
- Work / life balance
- Spending time doing what you want to do
- Helping others
The list can go on and on. Thus, the success is money debate will continue for ages.
The key point to remember is the word… YOUR.
This is your journey. Your path with money. You make choices based on your desires.
How to be Successful with Money
And not give up your soul.
This is a delicate balancing act. Honestly, it shouldn’t be labeled as a balancing act because that isn’t an accurate reflection of being successful.
You must find your rhythm.
Find the point where money helps you to do what you want to do in life, but isn’t your #1 focus. Let’s dig into ways to be successful with money.
1. Be Different
Going against the grain of society is gutsy. It is the willingness to be different. This is the moment when you say enough is enough of doing things society’s way and start putting your success first.
It will feel awkward at first.
Anything that is new is harder at first. Just like any resolution, it takes time for a new habit to be made.
Ways to be Different:
- Learn to become self-reliant instead of just ordering something online.
- When you want to bail on something, show persistence for just a little bit longer.
- Sign up for Struggling to Financial Success Money Bootcamp to assess your finances.
- Find a like-minded community.
- Decide what is more important to you than money.
- Learn to say no (and not feel guilty).
- Celebrate your successes when you go against society’s norms.
2. Stop the Comparison Game
This is such an easy trap to fall into! Sometimes without even realizing it.
We don’t even need to leave the comfort of our home to start the comparison game. Society even pushes the concept of comparison – even at the young ages. Across all media, it is okay to wish for something you don’t have.
If everyone else is doing it, you might as well, too.
Is comparison the root of all evil? Probably not.
With money, comparison can cause a quick, slippery slope to debt. The average household has $90K of debt (not including mortgage). That is a heavy burden to carry.
Even if you manage to stay out of debt, reaching financial freedom and retiring early will be harder. It is okay to be different. It is okay to stay outside of the comparison game.
Societal pressures are huge. The impact can lead to financial ruin.
From money coaching, I have learned that many of their biggest financial decisions and mistakes have been made with outside pressures.
3. Stay Persistent to Your Plan
Persistence is a trait that was a given when I grew up. Remember the saying, “Practice makes perfect.” It was expected to try over and over again until you succeed. It didn’t have to be perfect; it was the effort that counted.
Today, persistence is a character trait our elementary school stresses to the students. Why? Because today’s kids give up WAY too quickly.
This is your story. Your money journey.
You judge your success with money based on your plan.
Getting out of debt. Stop living paycheck to paycheck. Reaching financial freedom. Retiring early. Those things will not happen on their own (wouldn’t that be great if it could?). It will be tough to reach those milestones.
Ask anyone who reached $1 million net worth, retired at 50, or had a little money left over at the end of the month but covered bills. They will say it was tough at times. But, it is worth the extra effort and persistence in the end.
4. Pay Yourself First
Money success is based on one simple area… saving money before you do anything else.
While this concept seems simple enough, do you actually pay yourself first?
This is something I talk about over and over here at Money Bliss, the reminder continues.
Today is payday, then you move money to a separate savings account.
That is as simple as it gets.
Resources to Pay Yourself First:
- How Much to Save Monthly – Your Savings Percentage
- What Happens If you Don’t Save for Retirement
- Important to Know How to Save Money Each and Every Month
5. Be Wary of the Love Of Money
Remember the saying, “Money Talks.” Unfortunately, in today’s society, money talks. It provides access. It provides freedom. Money is a status symbol.
This is not true of every person in society. Not everyone struggles with the love of money.
But, many of our decisions tend to be based on money rather than what is better for our lives.
Everyone dreams of winning the lotto. A chance to finally change their situation. Honestly, winning the lotto creates bigger problems without getting to the root of the love of money.
The best way to overcome the love of money is to be content with what you have been blessed with.
Regardless of the amount in your bank account, look around and find everything you have been blessed with.
Is Money Success?
What is your opinion?
Does the saying, “Money is the key to success” a part of your life.
The success with money debate will happen for years and there is nothing we can do to change that.
So, you have to define what success means to you.
As we have stated in this post, success looks different to everyone. This is your financial journey and legacy.
What would make you feel like you had an impact?
That is your answer to success with money.