5 Cliches That Will Keep You From Making Money

NEW YORK (TheStreet) -- When you interview 1,200 of the world's wealthiest people over the past 30 years -- and you're a self-made multi-millionaire yourself -- you know all too well the conventional wisdom on wealth doesn't hold up under serious scrutiny.

That's the deal with Steve Siebold, author of How Rich People Think and a serious student of what makes people rich -- and what doesn't, including those so-called "money phrases" or cliches.

"Be careful. Some of these seemingly harmless phrases about money can actually interfere with the wealth-building process," Siebold says.

 

"Most of us learn about money from people who don't understand it, and who are well-intentioned people of influence who propagate their ignorance of what wealth means and how it's acquired," Siebold says. "These well-known money cliches that most people use are ingrained in our memory early on, and are rarely if ever questioned. Is it any wonder that most of us are broke?" 

Siebold has a short list of "favorite" quotes that can send Main Street Americans down the wrong path to wealth creation:

"It takes money to make money": Siebold calls this famous line "limiting" and "destructive." The key to genuine wealth is having great ideas that solve problems -- that's how you make money. "If you do that, you will attract money like a magnet," he says. "Wealthy investors are always on the lookout for the next big investment they can sink their teeth into."

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