“I just need more money to be better with money”

For this week’s Reality Cheque, we’re looking at the money myth about how more money means a better life and better financial skills.

It’s a thought most of us have had at some point: “If I just made more money, I would be better with money.” Suddenly the stress would ease. The credit card balance would shrink. Making meaningful savings would finally feel possible. Maybe you’re waiting on your next raise, a better job, payoff from a side hustle—convinced that’s when your financial life will click into place.

It’s understandable to think this way. When money feels tight, more of it should be the obvious solution. But here’s the uncomfortable truth: income alone rarely fixes financial stress. Without the right habits and mindset, a bigger paycheque can disappear just as quickly as a smaller one.

Why the more-money myth fails

“You don’t get what you want, you get who you are,” writes Kelley Keehn, longtime financial educator and CEO of the Money Wise Institute, in her new book Save Yourself. Bringing home more cash won’t be a problem solver if your attitude toward money doesn’t improve. 

Psychological barriers can get us off track no matter how much money we start making. “When I was young, my immediate family didn’t have much money, but I had wealthy uncles,” she says. “So, I grew up witnessing two very different financial realities. Later, when I started my career as a financial advisor to affluent clients, I thought success meant mirroring my clients: new clothes, expensive car—the image of success.” Her mindset, she admits, was looking the part and not building the foundation. “While I was advising clients on their proper financial path, I was only getting myself deeper in debt and further away from my goals.”

Our financial DNA—our behavioural patterns around money—often dictate how we set goals, whether we see things optimistically or pessimistically, and our approach to risk, says Keehn. Taking stock of who you are and what drives you is half the battle towards identifying what might be holding you back.

“The young generations are constantly being bombarded with sound-bite financial advice and pessimistic headlines about housing or how many millions you supposedly need to retire. Over time, that messaging can create financial paralysis. People start thinking, ‘What’s the point of even trying?’ One of the most important things you can do is step outside those echo chambers and focus on what’s actually within your control—building habits, momentum and a more productive mindset.”

Easier said than done, you say? How do we overcome potentially a lifetime of psychological barriers with money?

According to Keehn, fixing your financial habits is like trying to get fit. Going to the gym can feel like a slog initially. But by sticking to a consistent workout plan, the dread and the aches can turn to an everyday pattern of positivity and energy getting you closer to your goals.

“Our brains are wired for instant gratification, which means we naturally prioritize today over our future selves. Because of that, we often dismiss small financial actions—like saving $100 a month—by telling ourselves it’s not enough to matter. But wealth is built the same way health is: through consistent habits. Missing one workout may not seem like a big deal, but progress comes from showing up repeatedly. The same is true with money. Small actions, done consistently over time, are what ultimately create meaningful results.” Celebrate your small wins and recognize the impact it can bring to the big picture.

What to do today

So, how do you create small wins? You’re likely using your best tool to read this article. “Our phones are becoming a more powerful tool every day: apps that can automatically transfer money to investments, calculators to estimate savings goals, AI tools to curate a financial strategy, information on potential side hustles. There are a wealth of resources that can help you visualize a path to any long-term goal.”

Being part of a community is another advantage you can start developing today. “The environment you surround yourself with matters enormously when it comes to money,” she says. Spending time with people who have strong financial habits—whether through investment clubs, communities, or even the voices you follow online—can shift your mindset and behaviour. And if no one in your immediate circle is talking about money in a healthy way, seek out positive influences elsewhere. Listen to thoughtful podcasts, read widely and ask yourself: “What are successful people doing consistently that helps them reach their goals?”

The truth is, having more money can amplify your progress, but it can’t replace intention. A raise without a plan disappears. (Find out where your raise goes.) A windfall without habits evaporates. Income changes your capacity, but behaviour determines your direction.

Let go of the myth that your financial future begins with your next paycheque. It begins with your next decision, really. Wealth isn’t built in one leap—it’s built in consistent patterns. And, the sooner you shape those, the more powerful every future dollar becomes.