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Staying on top of one’s finances can be a daunting challenge made more difficult by money-management myths we believe and little lies that we often tell ourselves. In some areas of life, a little white lie might be perceived as harmless. But when it comes to money matters, the myths and misconceptions we believe can do some serious damage. To help ditch those misconceptions that might be holding you back economically, think about whether you’re guilty of subscribing to – or telling yourself – any of the following six money-management myths:

Money Management Myth #1: It’s Someone Else’s Fault

Be honest. Have you ever blamed someone else for one of your financial predicaments? Perhaps you rue the day you met your ex-spouse, because he or she ruined your credit. Or maybe you’re convinced that your efforts to garner a promotion and raise have been sabotaged by a nasty-co-worker. Alternatively, your entire financial life may be a mess and you’ve been subconsciously pointing the finger at your parents. After all, you figure, they never taught you how to manage finances properly.

Financial Truth #1: Your Finances Are a Direct Result of Your Own Action

I hate to break it to you: but the truth of the matter is that your finances (both the good and bad facets of them) are a direct result of your own actions. It’s a very hard reality for many people to accept, but your own personal state of affairs actually is directly linked to what you’ve done – or what you’ve failed to do. If you can accept responsibility for your own condition, it’s not self-defeating. On the contrary, it’s empowering, because it gives you license to begin taking control of your situation and to correct flaws or rebound from setbacks.

Money Management Myth #2: If I Just Earned More Money…

This is an enormously popular misconception – and one we’re all apt to buy into when we’re struggling financially. The myth essentially boils down to this line of thinking: “If I just had a little more cash, then most of my problems (or all of them) would go away.” Unfortunately, nothing could be further from the truth.

Financial Truth #2: It’s About Your Spending; Not About What You Earn

No matter how much money you make, if you don’t control your spending, you’ll never achiever financial security. Numerous instances of extremely well-paid celebrities going broke prove that how much money you make is far less important than what you do with that money. Consider the examples of actor Nicolas Cage and the late singer Michael Jackson. Despite earning $20 million a movie, Cage is allegedly mired in a world of financial troubles, including reportedly owning the IRS more than $6.2 million, and recently having several of his homes foreclosed upon. Meanwhile, Jackson is said to have once had a net worth topping $500 million. Yet, when he died in 2009, he was reportedly $400 million in debt.