Why Having “More Money” Isn’t Enough: What You Really Need For Financial Freedom

Have you ever thought that all your problems would disappear if only you had more money? 

I hear it all the time, from clients to friends. Pretty much everyone I talk to about finances thinks that just having a bigger bank balance is the magic fix for all problems.

Now, here’s a reality check. If I had one take-home message for my clients (and for everyone else), this is what it would be…

It’s not about how much money you MAKE. It’s about how much money you KEEP.

In fact, if you don’t know how to handle an increase in money, it really CAN mean “mo’ problems.” (as the Notorious BIG famously said…)

Let me explain this a little further.

Now, it IS fair to say that a quick influx of cash would be an immediate fix for some things. But ONLY the most obvious things in life.

A bigger bank balance alone is a superficial thing. It won’t change your current habits, skill set, relationships or values by itself. And it definitely won’t heal any lingering emotions around money.

Now, you might be thinking to yourself, “but I don’t make enough money even to take any of that seriously right now!”

That might be followed by the idea that “when I have X dollars, I’ll do Y and Z.” 

In other words, it’s another version of “I’ll be happy when.” People think that they need have certain amount of money before they improve their money management skills. Or heal their relationship with money.

Unfortunately, that money mindset usually doesn’t play out very well.

It doesn’t matter how much is in your bank account. If you don’t change your money habits, stories, and actions, sooner or later you’ll be back where you started. And thinking once again that everything would be OK “if only I had more…”

Here’s what I mean by that…

Think of all the times that you suddenly had an influx of cash in your bank account. You got a raise, a bonus, an inheritance or a gift–and yet somehow you ended up back at square one with money again. (Just when you thought that windfall would fix everything…)

Why does this happen? Because having more in the bank without changing what’s going on with you will take you to the same old place.

There are many examples here…

Sometimes having money triggers subconscious fears of paying more taxes. So you sabotage keeping money you received, and usually without even being aware of it. (I did this myself! Check out my post about this very thing right HERE.)

What about how having more upfront cash affects your spending? It could be tempting to max out your credit cards because you have more available funds. You might upgrade your lifestyle and do all the things you couldn’t do before. (Think about travel, gifts, or the social life you thought you couldn’t afford…)

But if you didn’t learn about budgeting and cash flow to manage that extra money, you’ll just pile on more debt. The only difference is that it’s bigger and fancier debt!

(And trust me, even those Zero percent APRs will come collecting if you don’t manage your spending!)

If you had more cash on hand, would you keep it or share it with your loved ones? What happens if you’re not aware of the rules and regulations around taxes and gift-giving? For that matter, what happens if you get blindsided by a higher tax bracket than you anticipated?

Then there’s WHO you might attract into your life. You might inadvertently draw in people who might not have your best interests at heart. (Think of all the “friends” that lottery winners “suddenly” have!) What happens if you don’t know how to audit your money for potential theft or fraud?

Of course, there are also the bigger lifestyle changes…

Would you stay at your current job or business? Do you know how to live off of your investments without a trusted financial advisor? How would it affect your retirement plan? (Believe it or not, some retirement plans have earning maximums…) 

So there are bigger tax bills, late fees and penalties. You’ve got bookkeepers who might take advantage of you. There are extra levels of responsibility that you had NO idea existed. You’re constantly “reinvesting” in your business, which leaves scarcely anything left for you…

Most of all, consider this. Would it heal the guilt, shame, or fear that you’ve been harboring around money?

Eventually make you feel the way you felt before. Like you never have ENOUGH money. (Ironic, don’t you think?)

WHEW! That’s a lot of contrary evidence for something that seems like the cure-all, isn’t it? 

But here’s the thing. I’m not saying any of this to call you out or scare you out of wanting more abundance in your life. Far from it!

The truth is that you need more skills, more positive habits, and more healing around money. After that, the money itself will naturally follow.

Even better, you’ll have the skills and practices in place to KEEP more of your money! (Sounds pretty exciting, doesn’t it?)

The bottom line is this…

It’s not about the amount of money. It’s about being a more responsible LEADER of your money.

If you take things one step at a time from where you are NOW, you can grow into the space of a responsible money leader alongside your money. 

Wealth is NOT a number. It’s a series of habits that serve your lifestyle. It’s playing a larger role and taking more responsibility in your money journey.

My best advice? Be good with the money you have NOW. Have $1? Use it wisely. Have $1000? Use it wisely. How about $10,000 or $100,000? SAME thing.

Here are some useful questions to ask yourself NOW:

• Are my assets protected?
• Do I pay myself first?
• Do I invest in a professional to at least get a second opinion?
• Am I saving for my future?
• Am I taking proactive measures today for the growth I wish to see in my life, money, and business tomorrow?

• Do I treat my time and money with respect?
• Am I directing my money with intention? 
• Have I released feelings attached to my bank account? 
• Do I understand cash flow? 
• Have I taken responsibility for the debt I have acquired? 

Sounds like a lot, I know. But all it takes is a single step, then another, and another after that. Nobody starts hiking mountains by running up the summit on the first day.

Take ONE step today. 

Until next time,

Love, light, and MONEY, Honey…

XO

Kaylee