It’s easy to think that if we earned just a bit more money, we’d be able to get ahead; that a few hundred dollars more a month will do the trick, or that a six-figure income is what really makes becoming wealthy possible. But contrary to popular opinion, that’s simply not true. Solving financial problems requires more than just money.

There’s something deeper than larger direct deposits that will offer you the chance to progress financially. More important than the amount you earn is the way you handle what you have right now.

That is to say, your behaviors matter more than your income. Your worldview and how you act will solve or create your financial problems.

Again, some of you may be shaking your head, which I understand. It seems only logical that the solution is to bring home more money. But let’s think things through.

Mo’ Money, Mo’ Problems

Did you know that lottery winners have a disproportionately high rate of bankruptcy compared to the rest of the population? A study on lottery winners found that those who had financial problems before hitting the jackpot were twice as likely as the general population to declare bankruptcy within five years.

How could that be? If a person brings home $1,000,000 in lottery winnings, how is it that these people end up falling into bankruptcy?

Though there was suddenly a big pile of money, the winner’s heart was still the same. Nothing about these underlying behaviors or attitudes changed. They only got more of what they had before as a result.

Lottery winners are not the only demographic that illustrates this principle. Did you also know that nearly 1 in 6 NFL players declare bankruptcy after retiring?

Why, with the millions and millions of dollars these players earn, would their bankruptcy rate be that high?

Once again, though there was all this money in the household, the attitudes and behaviors had not changed. Financial problems when one has little, will lead to bigger problems with much, if the behaviors and worldview do not also change.

It’s NOT Always About What You Earn

Money is a powerful thing. It can empower someone to do amazing things for his or her community and family/ But it can also wreak havoc on a person’s future if they do not have proper self-control.

It’s a strange thing, that the amount of money we have or earn isn’t the main issue; it’s how we handle it, our behaviors with the things we do have, that matters. A person with good habits who makes $50,000 household income has a rather high likelihood of retiring wealthy and may have a higher chance than those very high earners with poor habits.

Money won’t fix your financial problems. A change of heart and habit will. Are you ready to change?

Let’s talk about how you can get on the path to financial success and freedom. Schedule your free consultation with me today!

This article was originally published by Financial Coach Seth Connell in April 2019. It has been modified and republished with permission.