What Truly “Wealthy” People Know about Money


Note: If you enjoy this post, Ben Coe (the author) is now writing about the world over at www.bencoe.com. You can join his email list by clicking here.

In the deepest sense money isn’t real.  It’s true.  Intrinsically it has no real value.  It’s just a fancy piece of paper.  If you were to take our money to an alien world what could you use it for?  Money is simply a mutually agreed upon token we use to exchange for things that provide REAL VALUE to us like food, community, comfort and shelter.  It is the thing we buy with money or the thing people buy from us that has actual value.

Why then do we stress  over money?  You stress about money because you have mistakenly identified money, the actual money, as the thing of value.  You feel stress because you are “fighting” to get something that doesn’t exist- the closer you get the more elusive it becomes.  There is another way.

Look at the thing of value as what’s underneath the money.  If you want to generate more income, then think of how you can generate more value, not more money.  Also recognize that both value and wealth come in more forms than just money.  You can be financially wealthy but be bankrupt in true friendships, peer respect or health.

This observation is universal; applicable to anyone, anywhere in any business or organization.   It applies to the artist business, the management company and the United States Government.

In equation form it looks like this:

Wealth = Value Provided by Y *  Number of Entities that Directly Value Y

(Where Y is the product, employee or subject generating wealth).

Think about this on a higher plane.  We are all connected in a giant ecosystem and the flow of money is merely a manifestation of the exchange of our energy.  Next time you are stressed out about money be self-reflective.  Rather than stressing about how you can get more money for money’s sake, focus instead on how you can provide more value to more people.  All sorts of wealth will flow from this mindset.

——————

Note: If you liked this post, Ben Coe (the author) is now writing about the world over at www.bencoe.com. You can join his email list by clicking here. Thank you for reading!

74 Responses to “What Truly “Wealthy” People Know about Money”

  1. Ken Donaldson Says:

    Nicely said…thanks for reminder…
    They who are of the opinion that Money will do everything, may very well be suspected to do everything for Money. ~George Savile, Complete Works, 1912

  2. Ivan Jimenez Says:

    Ideas seem to be something the world is truly starved of, companies, individuals, everyone seems to be in desperate need of a truly great perspective.
    Who would have told us that one day ideas would be such valuable commodity..

    Great post, will follow you from here.

    Ivan Jimenez
    http://www.qefal.com

  3. Monique Says:

    Thank you for this insightful post. I will be bookmarking this page for future reference. Bless you!

  4. Ade McCormack Says:

    Excellent posting! The sooner we all focus on what we give as opposed to what we get , the better.

  5. Thor Says:

    A great way to look at the treacherous topic of money… And when you are focussing on giving BIG VALUE you
    Won’t be scared to charge appropriately (BIG) cool!

  6. Andrea Sydow Says:

    Thanks for sharing and reminding me of this. Now for the projects that are in my head I will consider the value for people even more.

  7. Kamil Ali Says:

    Really positive thinking. Creat value and money will follow! But hye! Don’t create that much value (as value creation also required money) that makes you bankrupt before money follow you:)

  8. Randell Tiongson Says:

    Agree with this blog.. nice one!

  9. Sue Vittner Says:

    What a great post on money, love it! When I first learned that money is energy it took so much pressure off of the whole concept of money. Thanks for sharing this with us all.

  10. Alex Ikonn Says:

    Wow! One of the best posts I’ve read in a long time.

    The sad reality is that the majority of people will simply ignore your message and keep living in the society conformed life!

    However, I can assure you that you’ve inspired me and many others.

    Now we just have to go out and ship!

  11. Chaitra Says:

    Very very interesting mindset. Recently I was with my girlfriends and having similar discussion. I hope I had this article with me. So well articulated. We all should aim for building more value not just run behind the money becuase it is a mirage:)
    great stuff..

  12. Bruce Says:

    I a few friends who are millionaires, and the way these three guys talk about money made me realize that they look at it very differently than I do. To them, it is a tool that can be used to accomplish something. They’re completely unemotional about it. Sure, you could argue that they feel that way because they have it, but I think it is the other way around: they have it because of the way they view it. They also happen to be three of the most giving people I have ever known.

  13. Chef Sherry Says:

    I learned this lesson when I starting my own business. More value will get you more money(clients) than chasing it. Let money (clients) chase you!

  14. Renee Says:

    Brilliant and great reinforcement of valuable mindset shift. It’s never about the money.

  15. Paul Klaszus Says:

    Awesome! I just came to this discovery a couple months ago through yours and Randy Gage’s writings and came up with this summary:

    If you focus on what value the world can give you, the world will return you a job.
    If you focus on what value you can give the world, the world will return you wealth.

  16. Jake Adams Says:

    This is a very important lesson that most people never learn. Thank you for publishing this.

  17. Judah Kurtz Says:

    I love this post, as I too believe that money is a conversation. It’s just a form of energy exchange, that we ourselves created to represent, as you put it, “value.” I wrote an entry on my blog Judah Buddha that talks about this very same thing regarding: what’s in it for them? Check it out: http://www.judahbuddha.com/2010/02/asking-for-raise-or-promotion-whats-in.html

    Great job and thanks for sharing!

  18. Kevin Vigil Says:

    Whoever said this. Never had any money

  19. Beatriz Says:

    The Universe provides… we just need to learn to see it. Whe we receive a gift, or we are offered a part time job to cancel a debt, or we are invited to have dinner when we could not afford it ourselves… Those are ways of generating/receiving value… Gratefulness is part of it. Being grateful and truly appreciating and using what we do have… If we are not giving it a use, is there any point in receiving more…?

  20. Jeb Says:

    I often wonder if profound truths, such as this, that I encounter were present in other generations. Or are these conversations new, and just beginning to gain momentum. I’m hopeful it’s the latter, because I feel as though we’ve strayed so far, and are in need of such a significant course correction. If we’ve been talking about these things – these truths – for generations, then it suggests we’re little more than talk. We like the pie in the sky ideas, but we don’t actually believe we can implement them. Or we lack the dedication to do so.

    But if these fundamentals are just now emerging in our collective discussions, as a result of a mass awakening from the hazy dream that served as our delusion these past years…well, then I think we may be on to something.

    Yeah, let’s go with that on. :)

  21. Dale Williams Says:

    Great universal truth – thanks for putting it out here…

  22. Lana - {Daring Clarity} Says:

    Two words – LOVED IT!!!

  23. Ian Berry Says:

    Wonderful insights. Very well said. Here’s to more folk practicing this truth

  24. Balagopal Says:

    Great Post! Thoughts, words and action related to the relationship between money and value are timeless.

    But the constant seems to be the former while the latter, by relation has produced more than one variant! Perceived value, real value, apparent value and what have you!

    I guess the discussion becomes more clear as you leave the abstract and cruise more into the real world – a world which craves for Change. I also would like to vote for Value which provides true value in exchange for value irrespective of the times you live in.

    Lasting Value in changing times. Those who can identify value sets, or value systems, define them and provide ways to tackle the variants in challenging circumstances, will serendipitously hit more attractive versions of Value – a state where value lasts and money or price is forgotten. This sounds familiar from the old sales school trainer’s pitch – but really this is the plain old truth!

    Combine this discovery with what Seth described in his “We can do it” you have a winning value combo! I wish more posts in this subject space!

  25. Kevin Says:

    Amazing insight. Loved the post…

  26. Lara Says:

    The marketplace has a different way of calculating value than nature or any given individual does. Money may not have value in itself, but it facilitates activity that has intrinsic value. There’s no getting around that.

  27. Paul Cenac Says:

    The Perfect Sale is the Mutually Beneficial exchange of Equal Value.
    At the time of the exchange, each party has past, present, and future personal concepts they apply to come up with their own perception of current value.
    I value lifetime friendships that bring more value than money could alone.
    All finance and commerce rely not only on the present value,but also on the time value of money. A loyal customer is worth their weight in Unobtainium on Pandora!
    If you make a sale happen,you can earn a one-time commission.
    If you create a friendship,you can earn a fortune in repeat business and referrals!
    Give More Present Value than you get, and Fu

  28. Paul Cenac Says:

    Give More Present Value than you get in every interaction, conversation, and sale and your Future will be overfilled with Great and Valuable Friendships, Happiness, and Wealth!
    It is better to Give than Receive!
    But remember that no one gets off the Planet alive and you only get to bring your Birthday Suit! So store up your value in Heaven because you have to leave all of your money value behind!
    Do what GOD did!
    HE so loved the world that HE gave HIS only begotten Son ( an incalculateable value ) so that those who just believed in Him would have Eternal Salvation.
    Accept Christ as your Saviour and His Promise to be with you in the Throne Room of the King for all Eternity! I am sure you’d agree is also an incalculateable value!

  29. Edel Ramilo Says:

    “You can be financially wealthy but be bankrupt in true friendships, peer respect or health.”

    I so agree with this. However, we should really be wary of how we understand this. Let us always seek balance of our finances and our relationships because obviously, we cannot be happy without any one of it.

  30. Rubens Turkienicz Says:

    Your equation has been part of my active life since my childhood.
    For the last few years I have been alternating periods of material abundance with periods of a total inability of even making a minimum living – especially during the last 6 months, despite my offers of “Ys” to so many others – and to the point of being destitute.
    Am using this internet line now to share this with you (plural, including your readers) while the subscription is still valid (until the end of March, that is).
    Am not angry, am not complaining, am simply stating facts.
    Suggestions?
    Wishing you only the best, with my thanks for listening,
    Rubens

  31. Tim Says:

    Great post. Good dovetail to Seth’s post about the more you give away, the more valuable you are. An epic paradox.

  32. Helen Says:

    Thank you for making this idea so clear, I’v heard it before but not truely understood.
    I’ll be back to this site. Thanks to Seth for link
    Cheers from New Zealand

  33. Techboy Says:

    If 2 people or companies do work for each other instead of paying money for each others services, does it work out as being quite a bit cheaper as it is not taxable?

  34. David Soxman Says:

    I believe that the truly wealthy would also contend that the value derived from money is directly related to what is done with it. If it is used to help people in real need then everyone benefits, those receiving the gift, and the satisfaction that the giver receives by knowing that their “energy” made a difference in people’s lives.

  35. Dave Lopez Says:

    Great post! I recently read a quote that stated “Money follows value” and you wrote “If you want to generate more income, then think of how you can generate more value, not more money”. Both are brilliant and a very hard lesson for most people to learn. Stop thinking simply about how to make more money and see where you can create something or be someone that people want more of. That’s when the money will start to roll in.

  36. Angel Says:

    Providing value to the people and having the right attitude is the way to go. Great post

  37. Ben Coe Says:

    Thank you everyone for your thoughtful comments and for taking the time to post here. I look forward to continuing our dialogue!

  38. WERTZ Says:

    Publishers are notoriously slothful about numbers, unless they’re attached to dollar signs, unlike journalists, quarterbacks, and felony criminal defendants who tend to be keenly aware of numbers at all times. – Hunter S. Thompson

  39. Mazarine Says:

    This reminds me of the latest terry pratchett book, called “The Unseen Academicals.” In it, there is a character who is obssessed with providing value, for having worth. It is his burning drive and mission. He does so much, he’s like some kind of ubermensch.

    Makes me feel lazy, to be honest!

    http://wildwomanfundraising.com

  40. Paul Lanigan Says:

    Important to emphasize that value like beauty is always in the eye of the beholder. Getting people to perceive value is an art form.

  41. Job Hunter Says:

    Great article, thanks for the share. Blog bookmarked :)

  42. Megan Bisbee-Durlam Says:

    Great post and great blog! I want to add that it can be interesting to ask one’s self what specific kind of conversation are you having with money (or what you are expressing with your money): relaxation, abundance, anger, fear, loneliness, etc. By inquiring in more detail it can be easier to observe these feelings when we are dealing with money and make more conscious choices about what conversation we want to have…. and who we want to “talk” to.
    Have you two read “The Tao of Abundance” by Lawrence G Boldt? I also recommend his book “Zen and the Art of Making a Living”. Thanks, Ben, for leaving a comment on my blog (www.ideasprout.blogspot.com) Have a great week!

  43. mk akan Says:

    creating value is what makes money…value is something some other person see as important and is willing to give something else equally valuable in exchange.
    this is how all businesses make money…love the post

  44. Inderjeet Says:

    Great post.
    Money is really a manifestation of the values we create in this universe.
    The Secret.

  45. Phil H Says:

    Couldn’t agree more! Focus on delivering value to others and the rest will take care of itself.
    A simple formula for value is benefit / price. The more benefit you can provide through a product or service the less important price/money becomes.

  46. Jacob Sokol Says:

    SUPER DOPE ARTICLE…. Love looking at value from this perspective and keep it in mind when CREATING AN EXTRAORDINARY LIFE for myself.

Trackbacks

  1. Planner Reads » Blog Archive » Naming tool of the week
  2. Naming tool of the week | Simple, effective and affordable small business marketing
  3. Naming tool of the week | Advertising News
  4. Naming tool of the week | Home Wealth Project
  5. What Truly “Wealthy” People Know About Money « Winning LifeStyles
  6. The Personal Blog of Jason Dunn » Blog Archive » Another Way to Think About What Money Really Is
  7. andrewhalfacre.com » Blog Archive » The Artist Farm Ideas » Blog Archive » What Truly “Wealthy” People Know about Money
  8. monies « Barefoot Phoenix – Reflexology and Tarot in Seattle
  9. Valuables « Syracuse in focus (SIF)
  10. What’s Your Worldview on Money? » Meshio.com- a Malaysia Personal Finance Blog
  11. Money - Are you surviving or are you thriving?
  12. Wealth = Value Provided by Y * Number of Entities that Directly Value Y « Linking Life
  13. The Artist Farm Ideas » Blog Archive » The Elusive Variable in the Wealth Equation
  14. A Globally Focused Education : soul secret service
  15. ThisGlobe.com — Blog — Naming tool of the week
  16. Naming tool of the week « Traders & Markets
  17. anxiety is nothing but repeatedly re-experiencing failure in advanc « the scenic route
  18. Scuba-net.org » Blog Archive » What Truly “Wealthy” People Know about Money
  19. Only Value Added Matters
  20. Providing And Creating Value « TheFreedomBusinessBlog.com
  21. » the simple life :the life artistic
  22. Money isn’t real – Johannes and Shauna Klupfel
  23. The Secret To Making Money | StartupFreedom.com
  24. Creating value « Lead on Purpose
  25. Finding my “Y”, the equation of wealth | Impossible is nothing!
  26. The Artist Farm » Blog Archive » 2 Growth Strategies – “One Fan at a Time” and “Nodes and Networks”
  27. Only Value Added Matters | Job Search Resource
  28. The Elusive Variable in the Wealth Equation | Ben Coe