Are you motivated by money? Everyone wants money, and with good reason. Money is an essential part of modern society. You need it to pay your bills, buy food, and splurge every now and then. But contrary to popular belief, money is a bad motivator.
You can, of course, be motivated by money. However, in the long run, money should not be your first motivation when you are trying to achieve anything in your life.
In this article, we discuss six different reasons why money is a bad motivator. Keep reading below to learn more.
1. Money Won’t Motivate You To Work Hard And Stay Focused
When you are only motivated by money, you are setting yourself up for failure. Money can get you started down a career path or towards a goal. But it isn’t likely to keep you focused, and therefore, money is a bad motivator.
At first, you might be enticed by the idea of earning a lot of money for your efforts. But the idea of money alone won’t get you far.
Hardships and complications are inevitable with any plan or job. As you deal with more and more work or difficulties, it could become hard to stay on task.
In some cases, you might not be happy doing the work you are assigned to. You only took a job because of the money, or you only started on a project because you thought you would get rich.
In these cases, you might end up quitting prematurely. Money doesn’t ensure your hard work and focus. Research even backs this up.
Most workers do not find motivation through monetary incentives. So if a job is too draining, or the monetary return on a project is not what you thought it was, money is not likely to give you the motivation to keep going.
On the other hand, if you had motivators beyond money, you might have a reason to push for what you want, even when things get tough. You are more likely to stay focused on your task because you enjoy what you are doing.
2. Money Doesn’t Generate Continual Interest Or Engagement
As previously mentioned, it is okay to be motivated by money at first, but you need a stronger incentive to keep yourself interested and engaged in your work.
Goals require not only hard work but patience and engagement. Not every project is going to go smoothly or be exciting all the way through.
There is a lot of tedious and sometimes boring hours that need to be put in to get something accomplished. Really, you need to be regularly engaged with what you are doing for it to be a success.
If the only thing keeping you working on a project is money, your interest will dry up fast. Money will not keep you engaged with your work continuously. You need other intrinsic or external motivators to keep you going.
The best thing to do is motivate yourself through different means.
You can still think about money, but don’t make it your main motivator. For instance, perhaps you are excited to see how people will react to your end product or project.
Or maybe you are excited about the job you are at, and motivate yourself with thoughts of what your work might manifest into. Maybe you are motivating yourself with your passion.
Often times, passion is the best way to find motivation for yourself.
If you are passionate about your work it is much easier to complete a task. But if you are only doing something to get some money it can be hard to accomplish anything.
3. You Might Be Missing Out On Your True Calling
Some people are so singularly focused on money that they lose sight of themselves and what they actually want.
It is practical to care about your income. You want to make enough money to support yourself in the long term. But you don’t want to be motivated only by money.
If your only concern in life is how much you can increase your earning potential, you could miss out on something you are actually passionate about.
Many people, maybe yourself included, have passions and dreams you want to pursue. And you might never get to pursue them because you are worried that they wouldn’t make enough money.
In this instance, you are choosing wealth over a meaningful life.
However, some people might think this is the right way to live. That you should chase money your whole life.
But life is about much more than money.
In reality, wealth can only bring you happiness up to a point. Once you have your basic needs met, money won’t do much to make your life more fulfilling.
Knowing this, you should consider motivating yourself for different reasons.
Start a job or career because it excites you. Begin a passion project because it’s something you love to do. The less you focus on money the happier you could become.
You might even find something out about yourself in the process. You do not want to end up so concerned with money that you give up on passions, other career options, and even your own happiness.
4. Money Does Not Help Create Great Ideas
A sole focus on money can be a big hindrance to creative endeavors.
This goes without saying, but when finances are on your mind constantly, your attention is kept away from your goals.
You’ll be so worried about turning a profit that you have less time to develop your ideas fully. Even if you make time to be creative, you impose limits on yourself when you only think in terms of profits.
This is a major problem with you are motivated by money.
Some ideas might not be profitable at first. And if you are only concerned with money, you might not follow less conventional ideas.
This can be seen as an issue because you could end up with fewer original ideas at work, and in your projects.
Some of the most innovative and creative people in the world weren’t sure if they could make a profit. But they pushed their ideas to the limit regardless of what other people thought was possible.
They did this because they had motivations beyond profit. In short, when your mind is on money and profits, you spend less time pursuing inventive and creative ideas.
In addition, you lose focus on the true goals of your work as your mind goes to the costs.
Your attention needs to be on your project or goal to keep the creative ideas flowing. However, if your priority is a profit margin, it can be harder to keep yourself properly focused.
Inevitably, your lack of focus will impact your ability to come up with great ideas.
5. Monetary Success Isn’t Guaranteed
Monetary success is never really a guarantee. There is no way to know if your business venture will be profitable, or if a certain career path will continue to be viable.
If you only care about money in these situations, and you fail to keep making a profit, your motivation and happiness will take a blow.
You might quit your business as a result. Or you might fall into a state of depression as you wonder what to do next.
This is not to say that you should not make financial investments, or that you shouldn’t go after a well-paying job. Quite the contrary actually.
If you are passionate about something you should pursue it to whatever ends you think are necessary. But if your only goal is to make money from something, you should try to find a different motivation.
Again, money can be good up to a point. It provides you with a stable life, but when you put everything into making money you could lose more than a profit.
You could lose your reason to work entirely. At least if you are motivated by other means you have more of a chance to try again, even if you aren’t sure about the monetary outcome.
6. Money Does Not Give You Fulfillment
Money won’t buy you happiness, and it can’t bring fulfillment to your life. If you realize this one simple fact, you realize that money is a bad motivator.
In the short term, you could make profits and gain wealth. But throughout your life, you might wonder if chasing money was worth it.
As discussed above, money can take you away from what you really want.
In fact, many people skip out on career paths that would have given them more purpose in life. This is the price you pay when you get caught up in being only motivated by money.
You have material wealth, you might have status, but you miss out on other fulfilling aspects of life.
Not only can you miss out on other opportunities in life, but you can miss what is right in front of you. Trying to make as much profit as possible can be time-consuming and ultimately lead to unhappiness and dissatisfaction.
You could miss important social events, give up time with loved ones, and even isolate yourself entirely. You lose connection to the people around you when you only motivate yourself with money.
People around the world are starting to realize this slowly, and are demanding more work-life balance. Money is not enough of a reason to keep people working long and demanding hours.
In fact, in a recent study, many individuals have said they are happier making less money and having more time with their family and to themselves.
In summary, you will be more fulfilled and happy when your focus is not on money and instead, on the different ways you can enjoy your life.
The realization that there are 86,400 seconds each day. What are you doing today, so that tomorrow you are a step closer to where you want to be? If not now, then when?
eightysixfourhundred, make them count