5 Money Lies That Are Keeping You Broke 😱

I’ve been seeing this trend everywhere lately – “propaganda I’m not falling for” – and it got me thinking about all the financial myths we’ve been fed our entire lives.

There is so much noise out there that the truth often gets buried. These ideas might seem in tune with today’s economy, but they are actually holding a lot of us back.

It’s time to let go of these myths and start embracing what works for you.

Today, I want to introduce you to the money propaganda that I’m not falling for (and neither should you):

1. “Credit cards are evil.”

The propaganda: Credit cards will ruin your life and keep you in debt forever.

The reality: Credit cards aren’t evil. They are one of the easiest ways to build your credit score. However, they can be evil when you are using them incorrectly.

Credit cards are actually one of the best things that have happened to me. I use mine for points and pay them off in full. These points have given me the luxury of perks that I have enjoyed on many of my wonderful vacations!

What makes credit cards destructive for people is the habits that they use alongside those credit cards.

If you need more clarity on this topic, I have explained exactly how I use credit cards the right way in this video. This is a must-watch if you’re unsure about how to use credit cards.

2. “You have to own a home to build wealth.”

The propaganda: If you don’t own a house, you’ll never be wealthy.

The reality: This is a type of propaganda that we have been taught very often, and I don’t agree at all.

You can make money in so many different ways. Just because you cannot buy a home does not mean you cannot be wealthy one day. There are other ways to become wealthy. For example, you can invest in the stock market, cryptocurrency, and bonds. 

You can even invest in real estate through REITs.

Oftentimes, the home that you currently live in is not even an investment in my point of view. There are so many factors that go into building your home after you “buy your house” that it’s not the same wealth-building experience for everyone.

For more insight into why home ownership isn’t always a bed of roses, watch my video on the hidden costs of owning a home.

3. “Investing is too risky.”

The propaganda: Investing in the stock market is gambling, and you’ll lose all your money.

The reality: Not investing is actually the bigger risk. With inflation eating away at your savings, keeping all your money in a basic savings account means you’re literally losing your purchasing power every year.

Yes, investing has risks. Yet this is a risk worth taking when you educate yourself and invest consistently over time.

If you’re unsure of where to start with investing, I break down how I built a simple, automated ETF portfolio in Canada that manages itself here. 👇

4. “You need to hustle and struggle to succeed.”

The propaganda: If you’re not burning out, you’re not working hard enough to be successful.

The reality: While I’m not downplaying that hard work plays a factor in success, I don’t think we should try to burn ourselves out trying to be successful.

If you have that abundance mindset that you can attract wealth and surround yourself with people who attract wealth, then wealth will come your way alongside your hard work.

For a powerful real-world example of this, listen to my recent podcast episode here where I share how I made over $500K through content creation without grinding myself into exhaustion. If you’re looking for a better way to grow sustainably, you’ll want to hear this.

5. “Money doesn’t buy happiness.”

Okay, this one might be controversial, but hear me out.

The propaganda: Rich people are miserable, so don’t worry about money.

The reality: Money doesn’t buy happiness, but it’s not necessarily happiness that it buys you – it buys you choices. It buys you options and the chance to do whatever you want.

That’s close enough to happiness for me.

A lot of people demonize money in a way to soothe themselves into believing that they do not need money or that they should not seek out money.

However, money is a tool that can be used to help us achieve all our dreams and goals, and also help us live a comfortable life.

One of the best ways to build that kind of financial peace is through safe, consistent investing. I walk through how to get started (without the stress) in this video.

Which of these hit home for you?

I bet you’ve been told at least 3 of these “truths” that are keeping you stuck. Let go of these and shift your mindset to reality.

These mindset shifts have changed my life for good. 

From buying my first house at 23 to building multiple income streams, ditching these limiting beliefs opened doors I didn’t even know existed.

Now, you can too if you are ready to make the shifts.

Until next time,