Money truths that can help every poker player's mindset

August 28, 2012 3:08 PM
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In Jerry Gillies’ Money Love, the No. 5 “money truth” is this: Worrying about money has nothing to do with how much money you have. 

A day laborer isn’t likely to take a week’s vacation because he can’t afford it, but neither do some millionaires. Even the rich worry about money if they have not divorced their “inner pauper.” But worry leads to stress ... stress to heart attacks ... heart attacks to disability or death.

Don’t worry about money! Instead, create an idea, a product, and a plan to reach the monetarily comfortable state of “enoughness.” Remember Napoleon Hill’s famous book title, Think and Grow Rich!

No. 6. Money is something to be loved, not feared. 

In particular, we should not fear losing money, because fear so often leads to loss. The things that we clutch the tightest often escape our grasp. We tend to emotionally nourish, physically take care of, and hold with the lightest touch the things and the people we love the most, especially out children. As noted therapist Gerald Jampolsky said, “Love is letting go of fear.”        

No. 7. Spending money is better for your “prosperity consciousness” than banking it. 

Now that’s a thought many of us can really buy into! However, Gillies means that circulating money—investing or creatively spending it—is better for its growth than hoarding it unnecessarily. This is not to say that wantonly splashing money around is better than saving some of it for a losing day at the tables or betting windows.

No. 8. Money is an extension of your self-esteem. 

I feel depressed, angry or afraid when I’m broke (yep, writers do get broke sometimes). But when I’m flush, stand back! A player with a huge stack of chips just naturally appears to be more confident, more assertive, than one who is almost all in—even if the all-in player has more money in his pocket than the king of the table.

A friend once told me that he has created “the illusion of wealth” by which others judge him. He always acts confidently and his self-esteem never seems to waver. Does the illusion exist in the eye of the beholder, or in the mind of its creator? Does it really matter?

No. 9. You cannot be emotionally healthy without healthy attitudes toward money. 

If you are needy, you suffer. If you are greedy, you suffer. But there’s no need to suffer at all if you develop within yourself the positive “prosperity consciousness” that Gillies recommends. Improve your attitudes toward money and you will sharpen your Gambler’s Edge.