I recently read a terrific book called Nexus by historian and philosopher Yuval Harari. In it, he talks about how storytelling is the main way we create and share the ideas and concepts that shape how society functions.

The concepts of government, religion, and even a nation are built on ideas that have become realities. They all depend on a shared narrative. Money is another one of those shared narratives.

At its core, money is one of the ideas that allows society to work and function. And it only works because we all buy into it.

But this got me thinking a little more deeply about the widely accepted beliefs around money that are, essentially, myths. And those myths carry an emotional burden that can shape our financial lives, whether we realize it or not.

Here’s one example:

“If I make more money, my problems will be solved.”

There’s a quote I love that goes something like, “If you can solve it with money, it’s not really a problem.” I think that’s mostly true. Money can solve logistical problems. It can solve time problems. It can reduce stress. It can give you options. But it doesn’t solve the deeper stuff.

Another myth I hear often is:

“You should always own the place where you live. You shouldn’t rent.”

I think this one runs deep, especially in the United States. It’s part of our narrative. Homeownership equals stability, success, and the American Dream.

I see this show up constantly with new clients. They come in, and one of the things they’re looking to do is buy a home. But when we slow down, sometimes the numbers don’t support it. Or their lifestyle doesn’t support it. Or the things they want to do with their lives don’t fit within the context of that story about homeownership.  And that creates dissonance, because we believe we should be doing this because of the story we’ve bought into.

I see plenty of people who have rented, maintained flexibility, and built terrific lives. Owning a home can also be a great financial and personal decision. But it is not a universal truth. So a better question might be:

“Does owning a home actually align with the life I want to live, the flexibility I want, and the tradeoffs I’m willing to make?”

Here’s a third myth:

“If I just had a certain amount of money, I would finally feel secure.”

Fill in the number. It doesn’t really matter what it is.

“I need a million dollars.”
“I need $10 million.”
“I need $20 million.”

Then I would be okay. Then I wouldn’t have to worry.  But in practice, the feeling of security doesn’t come from the number.  I’ve seen people with $5 million portfolios hesitate to spend on things that matter to them. They still worry about running out.

A sense of security is emotional. It doesn’t come from a number. It doesn’t come from accumulation. A number can support a feeling of security up to a certain point. But beyond that, I don’t think more money automatically creates more security.

These are just a few examples of the money mythologies we internalize without really questioning them.  In my mind, the goal is to start building awareness around which myths are influencing your financial life. If you relate to one of these examples, ask yourself:

Where might this belief come from?

Does it actually serve me?

Have I accepted this myth without really understanding it?

When we recognize the stories we’ve absorbed and internalized, we can begin to rewrite them. Not as myths, but as beliefs that empower us in our financial lives.