5 Money Myths That Are Keeping You Broke (And How to Break Free)

Subtitle: Unmask the lies that sabotage your finances and learn the truths that set you free.

Money myths are everywhere, whispered in ads, repeated by friends, and even taught in school. Beliefs like "You need debt to get ahead" or "Your credit score is everything" sound convincing, but they’re traps that keep millions struggling. The truth is, most millionaires avoid consumer debt, and you can buy a home without a traditional credit score. Budgeting isn’t about restriction—it’s about freedom. When you know where your money goes, you gain control and peace of mind.

Another myth is that consolidating debt solves the problem. In reality, it often just reshuffles the numbers without changing behavior. The real solution is to address the habits that created the debt in the first place. By focusing on living below your means, saving consistently, and refusing to let debt dictate your future, you can break free from these illusions. The blog also covers the myth that investing is only for the rich—anyone can start, and the earlier you do, the greater the rewards.

Changing your beliefs is the first step to changing your life. Surround yourself with people who support your goals, seek out reliable information, and take one small step at a time. The path to financial freedom is clearer than you think—all you have to do is see through the fog.

Sources: Dave Ramsey’s Total Money Makeover, Medium review, The Happy Saver blog.