The love of money is the root of all evil.
From both personal experience and personal observation, I believe that statement to be true. Many a man or woman in love with money has compromised principle in order to obtain wealth. No doubt you have seen it as well.
There is just one problem with this helpful proverb: We’re quite sure the warning doesn’t apply to us. I mean, we’d never lie, cheat, or steal to gain more money. Therefore, the warning must be for someone else—probably the wealthy.
Herein lies the problem. Nobody ever admits to loving money. Everybody just wants more of it. (tweet that)
In America, if you ask a roomful of people who wants to be rich, almost every hand gets raised. The desire for wealth is almost a forgone conclusion in our society. So much so, in fact, anybody who claims they don’t want more is quickly labeled a madman, a liar, or misinformed.
But I don’t think this assumption concerning our relentless pursuit of money should go unchallenged. It might be a helpful exercise to measure our desires and weigh them against the alternative.
So let me pose a question.
What if the desire for money could be entirely removed from our lives? What riches might stand on the other side? What benefits would we discover?
Allow me to offer seven.
1. Happiness can be discovered. The studies always come out the same. Once our most basic physical needs are met, money adds very little happiness to our lives—even though we always assume it will. Zig Ziglar said it like this, “Money won’t make you happy. But everybody wants to find out for themselves.” Once we remove the desire for money, we are freed to discover happiness has been available to us all along.
2. Security can be found elsewhere. Research from Margaret Clark, a professor of Psychology at Yale, tells us that human beings look for security in two places: possessions and relationships. When one is abundant, the other receives less priority. As we shift the focus of our lives away from the accumulation of more and more money, we may just find that genuine relationships with other people provide far more security and fulfillment than possessions ever can.
3. The negative influence of wealth becomes more apparent. Most of us fear poverty. But very few ever consider the negative consequences of wealth: pride, arrogance, isolation, lack of empathy, and the clouding of moral judgment (just to name a few). Again, we are quick to dismiss the notion that money would ever have that type of influence on us. Because we imagine our life would only be better with more money, we never stop to even consider if that’s true.
4. Work would take on a new focus. If the pursuit of wealth was removed from our affections, we may change our career entirely and choose to do something more fulfilling for 40 hours/week… doesn’t that sound nice? But even if we didn’t change our work assignment, our focus would still change. We may care less about the paycheck and care more about doing a good job for the sake of doing a good job—or maybe for the sake of the person we are serving in our occupation. Work would no longer be selfish, it would become selfless.
5. Generosity could begin today. Generosity benefits the receiver, but it also rewards the giver. Those who are generous with their money and their time take hold of the life that is fully life. They make the world better and their lives fuller. Too often we fall into the thinking if we made more money we would become more generous. But the statistics don’t support that presumption. Generosity is more about priorities than it is about income.
6. Contentment would become attainable. Those who have all they need (food, clothing, shelter) but still constantly desire more, prove their discontent. It is displayed in the items they pursue. I realize that removing the desire for wealth does not necessarily result in contentment, passions can still be directed elsewhere. But it is a great start.
7. Regret is more easily avoided. People who want to get rich fall into a trap that often leads to ruin and regret. They make sacrifices with their time and energy to secure more wealth. They are quick to neglect their family, their health, or their soul. They make small sacrifices every day in order to make more money. But in the end, they will discover they traded the most important for the least. Rejecting an unquenchable desire for more opens up our life to regain focus on the things that truly matter.
This post is not a chastisement of those with money—that would include most of us. And this is also not an argument against hard work, compensation, or earning money.
Instead, this is a post designed to open up a conversation on this blog and in our minds—a conversation about the role of money in our lives. And it is a call to reevaluate our seemingly insatiable desire for more of it.
Bethany @ Online Therapy and Coaching says
I agree with all of these, Josh, but especially with #2. Two years ago, we let it all go and left “security” to follow our dreams. We’ve been happy and overall it’s worked out well.
However, I remember a time when things were really tight, financially. One unfortunate thing happened after another, and we got to the point where we had to choose between having a home and eating.
I was a member of a mothers’ group in my community. We were relatively new here, and I was not very active in the group. I asked about local food pantries, and if there were any that could help people in our situation. They gave me answers right away, but–unbeknownst to me at the time–a member of the group had organized a food drive, and I received my first care package of many the next morning! These strangers who became new friends kept my family fed until we were able to resolve our situation and prevent it from happening in the future.
Of course, we have paid it forward, many times. ;-)
The greatest source of happiness that a person can have is a strong community.
InsiderAccountant says
A great post – it’s a message that I certainly agree with.
I hope to accumulative a moderate amount of wealth before bowing out of my profession about 20-25 years early so that I can focus on more rewarding things in life.
A career as a partner in a big firm gets old very quickly and I jus can’t bear the thought of hanging around longer than I really need to. Otherwise I will just be missing out on all of the other great things that life has to offer.
Janis says
What perfect timing to address the topic of wealth when billionaires are buying politicians and American Democracy is at stake.
I have riches that the Koch Brothers can’t imagine.
Cheryl Smith says
I always enjoy and appreciate the things you write, but this is my favorite post of yours yet, by far. So much truth and wisdom here. It is not money that is the root of all evil, but it is the love of money that is the root of all evil. When I read this, I thought of Jesus and how He said how hard it was for those who have riches to enter into the Kingdom of God. He didn’t say it was impossible for wealthy people to serve Him but that it would be hard. I believe He said this because He knew how strong the propensity to LOVE our riches really is. The closer we draw to Him and His mindset and way of life, the less our riches even mean to us, and the more we long to bless others with them as much as possible. The joy that comes from giving them away and seeing the needs of others’ met far surpasses any joy that comes from holding on to them. Thank you for speaking such profound truth here. So thankful for this post. :)
Daisy @ Simplicity Relished says
Generosity can start earlier– yes. I’m tired of hearing people who say that they’ll be generous “one day” when they’re financially secure. The truth is, generosity is always dangerous, and always worth it. If we can cultivate these other attitudes sooner, and not waiting for the day when we “have enough”, then we could collectively change the world for the better. Such a good post Joshua!
Sal says
I competely agree with that.
Linda says
Yes, you’re either a giver or you’re not. If you only have a little, then you can give just a little. If you have more than enough then obviously, you can afford to give more.
Lori in Prescott says
Money? Always a good topic to spark conversation. Recently, my husband and I have agreed to NOT discuss money with anyone but ourselves. As soon as someone wants to tell us about THEIR money, we create a diversion. We do not want to hear it. This has made a huge difference in our life and our relationships. When you lose everything, you find out who your friends are. We went from a very comfortable corporate lifestyle to poverty in an extremely fast amount of time (job loss/medical bills). I experienced first hand how fleeting security can be. I still struggle with lifelong Midwest concepts about ownership, but realize much of that is delusional. ( i.e., If you have a mortgage; you do not own your home; the bank does) If your basic needs are not met, money is a huge worry and ever present focus (negative) in your life. The irony is only if you have money can it not be a focus. The freedom to bow out of the employment system is a goal for many, however, without focusing on money, they won’t get there.
Graham says
That is exactly where I am now. I do want to do the bow and bid the grind farewell. My conflict with money impedes that. Right now I am trying to find a easy going, positive, and loving relationship with money to replace the pain that has existed around it. It is happening and I am finding that the more I stay in a place of positive neutrality, I know positive and neutral, with money it makes it easier to love money while still knowing that my goal is to acquire it for freedom, not a bunch of stuff and junk.
It has been a challenge as I was raised in a house where money was scarce and the fear, worry, and confusion from that lack in my parents rubbed off on me. In essence I am dealing with their own issues in my self.
Jen @lifewrangling says
Number 7 definitely strikes a chord with me. Often we do not realise what it is we are sacrificing until we stop to look back upon our past decisions. It’s those small choices we make along the way that, when added together can have a huge impact upon our lives.
Matt Ham says
As the author of a book titled, Redefine Rich, I greatly appreciate your words. Being rich has far more to do with your heart than your wallet. Thanks, Joshua.
Gail says
I certainly believe the Bible’s warning about the LOVE of money, but there is a certain amount of security in having more than enough for the basics. My husband and I are now in our 60’s and live very comfortably. At our age, we are beginning to have more health issues which are costly even with health insurance. Last week, my husband went to the emergency room thinking he might be having a heart attack. He ended up staying overnight for tests and turns out his heart is fine. I had just had my gall bladder removed the week before. He commented that his hospital stay was for nothing, and I reminded him that we are fortunate that we can afford it. We never sought after lots of money, being 2 school teachers, but we inherited money. There is a measure of comfort in knowing we’ll most likely never have to worry about finances in our last years.
Other than that, I agree with your article.
Miranda says
Great article. I love your points, and I have been trying to convince my husband of this for our entire marriage. I grew up very poor, but never felt that poor because life was still good. As an adult, I can see we need money for basic needs and that really all. I don’t stress that we need anything extra or whatever. But he does, and that stresses me, stresses our marriage.
Jaqueline says
I also grew up poor but with a loving family so I never felt poor. I’m about to graduate with a graduate degree and constantly feel the tug from society to find a high paying job instead if staying with the small company I have grown to love. My husband is my biggest supporter and a huge reminder that happiness doesn’t come from the size of our paychecks.