The 5 key lessons from “Money Won’t Make You Rich” by Sunday Adelaja

Wealth is a mindset, money is a tool, wealth is in value creation, financial discipline is key, and wealth is built over time, not overnight. Let’s delve in.

1. Wealth is about the right mindset and principles 

Wealth is built on the foundation of knowledge.  You need some knowledge that is specific and of a general nature. The understanding of where money is derived from, and staying informed about opportunities, markets, attraction, and growth of wealth is fundamental. For instance, if you spend some time learning about investing, you will learn some of the risks and how to diversify helping you minimize making uninformed decisions. 

2. Money is a tool  

Money as a tool can help you achieve a purposeful life. A tool is used to serve, create impact, improve lives, and fulfil a greater purpose. You can use the money to travel the world, to speak and inspire, to promote and provide for health care needs, in other words, to create positive changes in you and society.

3. Money is earned through value creation

Adelaja highlights that money is in creating value in goods and services people can use or in solving societal problems. When you provide something of real value—whether it’s a product, service, or even knowledge—people will naturally pay for it. Creating value leads to wealth, and the more value you can provide, the more wealth you can accumulate. If you can identify a common problem and solve it, then, rewards will follow you. 

4. Financial discipline

Financial discipline helps you to stick to your goals and plans, and to resist temptation of immediate gratification. Most likely, a financially disciplined person will avoid unnecessary debt, follow his or her plan and budget, and focus on short-, medium–, and long-term perspectives with consistency and focus. Adelaja stresses that even those with large incomes can become financially unstable if they lack discipline in spending, saving, and investing. The discipline to balance managing what you have today while planning for the future is essential. For instance, if you live below or within your means, save and invest a portion of what you earn consistently, you will gradually build wealth.

5. Wealth is built over time, not overnight   

Adelaja warns of get-rich schemes. Wealth is built through consistent effort, planning, and patience. Adelaja encourages readers to take a long-term perspective when it comes to wealth-building, rather than expecting instant results. This approach promotes stability and prevents financial disasters that come with risky, short-sighted decisions.