Dec 14, 2016 04:37 AM EST By Audri Taylors, UniversityHerald Reporter

Who does not want to get rich? Everyone would probably enjoy extra money for a little luxury and the comfort of not having to worry about finances again. If you think that being wealthy is something that is only exclusive for the lucky few, then you are setting yourself up for failure. You're the one who's limiting yourself from becoming actually rich.

If you have, at some point in your life, dreamt of becoming rich too, here are the lies you shouldn't believe.

You need money to be rich

This is one of the biggest lie that many people actually believe according to Scott Trench, vice president of operations at Bigger Pockets. He said that instead of thinking this way, people need to learn how to spend less than what they earn. And in contradiction to what many people think, rich people do not just throw their money away at something that's irrelevant.

Money is the root of all evil

This is not true even if people base it on the text in the bible because it actually says in Timothy 6:10, "For the love of money is the root of all evil". It isn't money that makes a person bad but the bad things he does in order to make a lot of money.

Your properties, car, house or even your college degree are not considered as assets

While these may be smart investments, if becoming rich is really your goal, you need to invest in something that will consistently increase in value and will constantly produce cash.

Wealthy people are selfish

It is not being selfish when you focus on your own financial goals especially when you are just starting out. When the time comes when you have already acquired wealth then that's the time when you can share your blessings.

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