12 Money Myths You Should Throw To The Wind

Our lives are stressful enough without letting fears about money, the future, and the unknown enter into our mind space. Being in the personal finance business, we speak to a lot of people and hear a lot of theories about money. Many of our readers are simply doing the best they can, while we work hard to provide guidance, support, and assuage their fears. To help you focus your energies on leading the life you want, we’ve compiled the top money myths we’ve heard. Read them, learn the truth, and put these money worries to rest.

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Let us help you clarify your money myths! What have you heard? Put them in the comments and we'll shed some light!

  • Anonymous

    Great article. One more we should add is that working for a big company is safer than a small start-up. Any money myths you’d like to add, readers?nCheers,nCaroline nLearnVest’s Chief Content and Community Officer

  • Anonymous

    How about that buying is always smarter than renting? All the folks who got their foreclosed on after the crisis would agree that they would have been better served just renting. There is no reason at all why all Americans *deserve* to own a house just because someone is willing to lend them money.

    • Sitch907

      Hmmm, I agree mainly bc I have a major problem with the word “deserve.” But I, for one, still believe in buying over renting if a) You’ll be there more than 3 years and b) you can afford your mortgage payment. To overextend yourself to buy a house, and expect to turn around and sell it two years later, is a risky gamble. Actually, I think it’s just stupid.

  • Anonymous

    You are wrong about cash versus credit cards. It’s always better to use cash. That way you never ever get yourself into trouble

  • Anonymous

    You are wrong about cash versus credit cards. It’s always better to use cash. That way you never ever get yourself into trouble

  • Holly

    Cash is best for most people because they lack all self control! Most will just charge their way to happiness, or so they think. There is a great article about it at http://www.savecreatively.com/MoneySavingArticles.aspx

  • Aliyyah

    Very helpful. Thank you.

  • Kiki

    Thank you!  I’ve been a credit-card-only user for years…and pay the bill when it comes in.  I used to use cash and never knew where the money went.  Now I do.

  • Kiki

    Thank you!  I’ve been a credit-card-only user for years…and pay the bill when it comes in.  I used to use cash and never knew where the money went.  Now I do.