Will more money free you?

Many people think more money will give them freedom. For some of us it becomes a trap. Now more money is not a bad thing but being able to enjoy it or grow it follows mental freedom first. What is dangerous is pegging our existence on it. Ken thinks more money will sort him out and given his situation it is understandable why he would be tempted to think like that.  Ken is in a lot of debt.  He spends beyond his means and this has been going on for years.  Even his wife does not know exactly how much he owes. He has a top management job at an advertising firm and for a long time he has lived up to the image he was expected to have. From the time he got into the industry, there was pressure to drive the right car, join the right clubs, live in the right neighborhood, associate with the right people etc. He earns a very good income but like most people in this situation he soon found out, there is always more to buy and it doesn’t quite end.  He slowly started dipping into his credit card to finance drinks for his team on Friday evenings.  Then he would take personal loans from the banks and the Saccos.  He then started depending on salary advances from work.  He then got a second credit card. He started taking loans to finance insurance for his car.  Even though Ken got a windfall today, nothing will change. He may pay off his debts but there is an extremely high chance that he simply goes back to the same spending habits. Ken is imprisoned by social status and image and until he lets that go, he will never be free.

So does this only happen to people who are in financial difficulties? Absolutely not. Let’s look at William. He runs a very successful business and he makes money. The car, nice home, lifestyle is all there. But that’s is not why you will know he is wealthy. Even Ken appeared to have the same things. William will tell you. If you had the unfortunate incident of sitting next to him for twenty minutes you will probably know how much he makes in a month, how much he spends on his holidays, how much school fees he pays.  Please note he will not tell you that much about his business or the experience of his travels. Or even the extracurricular activities his kids are engaged in, at this very expensive school. What’s important to him is that you know how much he spends.  For all intent and purpose, William could stop working and still live comfortably for a while. But he is still not free. He is still imprisoned by approval. He tells people about his money not because he is a bad person but to get the validation. Ken and William are in two different situations but victims of the same disease.

The truth shall set you free!

The truth about us is never in how much money we make or don’t make. Our identity is not money.  That’s a very insecure place to be in. Its good to have money but it can come and go. Both Ken and William need to realise that their power lies beyond the debt they have and the money they make. They both need to change their mindsets. Ken will only get out of debt by understanding that he doesn’t need to buy social approval. He is enough. William will be at peace with himself and be able to have normal conversations when he realises that he doesn’t need to validate himself at every opportunity.  It’s getting harder to do this in our society.  There is a lot of noise about what people have or own and less about their values, character, experiences and the process. You can make a lot of money and still be in a cage. Many people have found true freedom when they did not have money e.g. losing their source of income.  This is because it forces you to ask and discover who you are with or without the money.  Then you truly find your identity without the inauthentic layering that society demands.  So as you seek to manage money, create wealth, run business etc. remember to hang on to the truth of who you really are.  That will keep you free.

Waceke runs a course on Personal Finance. Get in touch with her on waceken@centonomy.com|Facebook/WacekeNduati| Twitter@cekenduati