Money can be tricky, especially when so many myths are floating around about how to save, invest, and spend. We get it; we're here to help you separate fact from fiction! In this article, we'll debunk some of the most common money myths that may be holding you back from achieving your financial goals.

Pay Off Large Debt First

High-interest debt can be a significant source of stress but paying it off doesn't have to feel impossible! Personal finance expert Dave Ramsey suggests a snowball method that involves starting with the smallest debt and gradually working on the larger ones. Not only will this help you make consistent progress, but it will also give you a sense of accomplishment and momentum along the way.

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Don’t Use Credit Cards

With credit cards, you take out small loans and pay them back. So, while it's true that credit card debt can quickly spiral out of control if you're not careful, using credit cards responsibly can be a smart financial move. When you use your credit card, you can earn cash-back rewards and help build your credit score. The key to managing them is only to spend what you can pay back and pay it all back at once. Plus, this helps build your credit score.

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Buy Used Cars

Used vehicles are indeed sold at a lower cost than brand-new ones. However, they have been previously owned by someone else whose identity and reliability you might not know. While buying a used car may seem like a wise financial decision, you also want to keep the vehicle’s reliability in mind. Instead of focusing on the cheap option, you can research and find a car you can trust in your price range.

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Take Advantage of Sales

It's important to remember that just because something is on sale doesn't necessarily mean it's a good purchase. While it may seem like a great deal, you should consider whether you need the item and if it’s worth your spending. For example, if you already have a TV in good condition, it may not be worth spending several hundred dollars on a discounted TV just because it's on sale.

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