What are 10 facts about money?

“What is money, really?” I stated to myself while studying for our upcoming discussion entitled the “Talent Multiplier Mindset.” There I teach people how to earn money from multiple streams of income.

You see, I looked and saw how money was either being misused, or used to mistreat people. Other people gained it in utterly ridiculous ways.?

Yet, I know many people who struggle with finances. Some lament over money and can’t earn enough.

So I figured it would be a great time to start sharing more about money management.

Here are ten (10) facts about money I wish I knew earlier.

1. Money is a means of exchange?

Money is a tool for purchasing goods and services. Nothing less. Nothing more.

It’s when you put more value to it that you get into problems. Later comes greed, and then maybe even disputes.

2. Money takes on the characteristics of its owner

Your money goes where you go. If you love overspending, when you earn more you’ll do the same.

If you’re mean, you’ll be similarly less charitable when you have more money. Money is neither good nor bad. It simply follows what its owner does.

3. You don't need to be scared of money

You may have been in poor environments. You may even have reduced skillsets, but know that shouldn’t make you fear money.

You can learn some high-income generating skills and change you and your family’s future.

4. An high-income job doesn’t make you rich

Making money is one thing. Keeping it is another.?

You have to be diligent in not overspending, reducing debt, and continuously investing in passive income.?

5. You can't become wealthy by only saving

Saving is cool and must be done. But that’s just part of the larger wealth-building puzzle.

You’ve got to invest and do it consistently.

6. Finance and investments remain the most popular way to get ultra-rich

(According to Forbes.com)

Forbes declared that most billionaires are in the finance industry.

A list from Forbes of the industries with the most billionaires.

Finance - 372 billionaires

Manufacturing - 324 billionaires

Technology - 313 billionaires? (highest total combined worth - $1.9 trillion)

Fashion and retail - 266 billionaires (2nd highest total combined worth)

Food and beverage - 212 billionaires

According to another source, there are some avenues for growth in income through industries such as, Real Estate and Construction, Health, Media and Entertainment, and Renewable Energy.

7. 3 out of 4 Millionaires said disciplined investing leads to achievement

(According to Ramsey)

Check out Ramsey Solutions’ latest “National Study of Millionaires” and you’ll see some interesting statistics.

Ramsey Solutions produced a millionaires’ survey with 10,000 participant and stated:

• 8 Out of 10 Millionaires Invested in 401(k) plans.
• The Majority of Millionaires (79%) Didn’t Inherit Their Money
• Top 5 Careers For Millionaires include engineer, accountant, teacher, management, and attorney.
• Most Millionaires Graduated From Public, and State Schools
• Most Millionaires Use a Written Grocery List When Shopping

8. Most millionaires avoid debt like the plague

(According to Ramsey)

Ramsey also found that:

• Most millionaires (94%) spend less than they make
• Most millionaires (three-quarters) never had a credit card balance in their lifetime

9. Money helps you with time freedom

One of the aims of those who eventually gain more money is to use it to save time daily.

With more time you have the ability to:

• rest and have more peace of mind,
• spend time with family,
• give back to community, and
• possess higher quality health

10. You should be producing generational wealth

You know the old adage? If you don’t come from a rich family, then a rich family should come from you. ?

Examine if you are leaving a legacy of businesses, shares in companies, or real estate.

Are you simply leaving financial burden and bad environments to your family? Time to check yourself, know the facts, and make a change.

If you want to see some of the things I saw people making money from and said “really?!” then:

Join us for the next Talent Multiplier Mindset webinar.?

Learn how to:

1. Earn more money,

2. Keep your money,

3. Generate multiple income streams

4. Grow money over time.

Check it out here and register for: The Sower’s Path

Works Cited

Chung, Richard J., “How The World’s Billionaires Got So Rich 2023.” Forbes.com, 9 April 2023, https://www.forbes.com/sites/richardjchang/2023/04/09/the-path-to-billions-the-industries-with-the-most-billionaires-2023/. Accessed 26 Feb 2025.

“The National Study of Millionaires.” RamseySolutions.com, 3 October 2024, https://www.ramseysolutions.com/retirement/the-national-study-of-millionaires-research. Accessed 26 Feb 2025.

“7 industries with the highest potential for a worker to become a millionaire” BusinessDay.ng, 19 October 2024, https://businessday.ng/bd-weekender/article/7-industries-with-the-highest-potential-for-a-worker-to-become-a-millionaire/ Accessed 26 Feb 2025.

Disclaimer

While I endeavour to teach some principles about financial management by using wisdom from the bible, note that I am not a licensed financial advisor.

Please remember to follow good principles of checking with your notary public,? attorney-at-law, registered accountants, and auditors to ensure proper fiscal policies.

Individual results may vary. This is not a get-rich-quick scheme.

The following are for educational purposes and should be applied with subsequent prudence and appropriate mentorship.

• Articles about money management such as; “What are 10 facts about money,?” “3 Money Myths Debunked,” and ”Biblical Principles Of Management.”??
• Webinars and memberships such as the “Talent Multiplier Mindset.”
• Bible studies such as "How The Bible Teaches To Be Wise With Money."?

About Me

Joneil J. Alcock is a digital marketer and author studying to be a lay pastor. He is also the producer of The Overcomers Series. Contact him for goal planning and strategic coaching sessions.