USE OF LANGUAGE IN ENCODING BELIEFS AND STEREOTYPES ABOUT MONEY AND WEALTH CREATION

Abstract

Language plays a significant role in personal financial education and creation of wealth in line with the attainment of the Kenya’s vision 2030. The words, phrases and common sayings people use to talk about money issues either inhibit or promote their personal financial growth. The words or phrases constitute the myths or stereotypes often used to describe money. The myths about money have been handed down from one generation to another over the ages. This paper analyses the language used in encoding beliefs and stereotypes about money and wealth creation. First, it identifies and describes common myths associated with money and wealth creation. Two, it analyses the linguistic strategies used in encoding financial myths. The paper uses the framework of Critical Discourse Analysis to analyse 20 purposively sampled age-old financial sayings. The paper underscores the compulsive need for financial education in deconstructing unsubstantiated beliefs about money and the significance of reprogramming people’s mindset. It advocates for the incorporation of financial literacy skills in the education curriculum.