Money Myths That Keep You Broke (And How to Overcome Them)

Alright, let’s talk about money. Specifically, the bad advice, old-school thinking, and straight-up nonsense that keep people stuck in financial struggle mode.

You ever hear someone say, “Money is the root of all evil” while also complaining about how they don’t have enough of it? Yeah. That kind of thinking is exactly why they’re broke.

So, let’s bust some of these money myths wide open because your bank account deserves better.

Money Myth #1: “You Have to Work Hard to Get Rich”

Listen, if hard work alone made people rich, construction workers and teachers would be millionaires. (And honestly, they should be. But that’s another conversation.)

The truth? It’s not about how hard you work. It’s about how smart you work.

• Hard work pays the bills. Smart work builds wealth.
• You don’t get rich by trading more hours for dollars—you get rich by creating value that pays you over and over again.
• The wealthiest people in the world? They delegate, invest, and create systems that work without them.

What to do instead: Start thinking like a business owner, even if you’re an employee. Find ways to make money that don’t require you to be there 24/7. Passive income, investments, side hustles—get some of those rolling.

Money Myth #2: “More Money, More Problems”

Ah yes, the classic “having money is stressful” excuse. Let me tell you something: Being broke is WAY more stressful.

• Bills stacking up? That’s stress.
• Saying “no” to dinner invites because your checking account is allergic to fun? That’s stress. Avoiding your bank app like it’s an ex you don’t want to see? BIG stress.
• Meanwhile, having money? That buys freedom, choices, and peace of mind.

What to do instead: Stop treating wealth like a burden. Learn to manage it, multiply it, and make it work for you. Money is a tool—if you use it right, it gives you fewer problems, not more.

Money Myth #3: “You Need a Lot of Money to Start Investing”

Nope. Wrong. Try again.

You don’t need thousands of dollars to start investing—you just need to start.

• Got $10? Boom. You can buy stocks.
• Got $50? Welcome to index funds.
• Got $500? Now you’re playing with real wealth-building power.

The secret? Consistency. The earlier you start, the more time your money has to compound and grow.

What to do instead: Download an investing app and put literally any amount of money in. Do it today. Future You will be very grateful.

Money Myth #4: “Debt Is Just a Part of Life”

Look, debt is like that friend who crashes on your couch “for a few weeks” and is still there six months later. It overstays its welcome if you let it.

Not all debt is bad, but let’s be real—credit card debt, payday loans, and financing a lifestyle you can’t afford? That’s a fast track to being broke forever.

What to do instead:

• Use debt strategically—for things that make you money (investments, education, business).
• Kill high-interest debt first. That credit card balance? It’s costing you a fortune.
• If you can’t pay cash for it and it’s not an emergency you probably don’t need it.

Money Myth #5: “Rich People Are Just Lucky”

Ah yes, the myth that lets people stay broke without taking responsibility.

Sure, some people inherit money or hit the jackpot. But the vast majority of wealthy people? They built their success.

• They learned about money.
• They took risks and didn’t quit when things got hard.
• They made their money work for them instead of just working for money.

What to do instead: Drop the victim mindset. Start learning, start investing, and start taking action. The only "luck" most rich people have is the luck of not making excuses.

The Bottom Line?

Your bank account is a reflection of what you believe about money.

• Believe that money is a tool, not the enemy.
• Believe that wealth is built, not just handed out.
• Believe that you can change your financial future—because you absolutely can.

So let’s stop with the myths and start making moves. Your future rich self is counting on you.