We all do it: tell ourselves little white lies to avoid uncomfortable truths. “I’ll start that budget next month.” “My credit card bill isn’t that bad.”
But when it comes to your money, those harmless fibs can become devastating financial realities. They fester, quietly eroding your savings, multiplying your debt, and stealing years from your retirement. The average person will lose hundreds of thousands over their lifetime by ignoring these harsh truths.
It’s time for some radical honesty. Here are the 11 financial lies you need to stop telling yourself right now.
Not all of these ideas will work for you, but some will, so be sure and read them all.
1. Pros are for suckers
Think you don’t need a pro to manage your wealth? A Vanguard study suggests that mindset could cost you millions.
Research indicates a hypothetical $500k investment could grow to $1.7 million on your own… or $3.4 million with an advisor.
That isn’t just growth. That is twice the money.
If you have $100k+ invested, check out SmartAsset
Don’t wait until it’s too late to maximize your portfolio.👇
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Please carefully review the methodologies employed in the Vanguard white paper, “Putting a value on your value: Quantifying Vanguard Advisor’s Alpha.”
2. There’s no reason to shop the big stuff
Most people spend more time shopping for milk than they do the truly important expenses, like insurance.
How would you feel if you found out you’re throwing away $1,200 annually just to pad some insurance company’s bottom line? It’s very possible. But there’s only one way to know for sure.
This new car insurance shopping tool
This new home insurance comparison tool
Take 3 minutes right now, click those links and see if you can save serious money: that’s what I did.
But don’t forget the cardinal rule: When you find ways to spend less on major expenses, don’t blow that extra money: Put it toward your mortgage, or invest it.
3. Playing games is a waste of time
Swapping a little spare time for extra money is easier than you think. In fact, you can make up to $1,340/month doing it.
Lots of companies let you earn money for testing apps, playing games and taking surveys. But FreeCash
They list thousands of offers from companies with most taking only around 5-10 minutes to complete.
Take a sec and check it out
4. Tapping home equity isn’t worth it
When my home soared in value, I turned to a home equity line of credit (HELOC)
Those savings eventually helped me pay off my house.
HELOCs could be the fastest, easiest and cheapest way to access extra cash, for whatever purpose, from consolidating debt to upgrading an outdated kitchen: HELOC rates are less than half what credit cards charge
In seconds, Money.com’s comparison page
Check it out right now
5. You don’t need help to destroy your debts
Worrying about debt is probably the worst way you can spend your time, and paying interest and late fees is the worst way you can spend your money.
If you’ve got a problem, like I did, the sooner you deal with it, the better.
If you have over $10,000 in debt, National Debt Relief
There’s no upfront fee and no obligation to get started.
Ready to start a new, happier chapter of your life?
Check them out right now
6. Banking apps are safe on public Wi-Fi
According to the FBI, Americans lost $16.6 billion to phishing, malware, and other online scams in 2024 alone.
Don’t risk becoming another statistic.
NordVPN
With its Threat Protection Pro™, you’re defended in real time against:
- Malicious websites
- Dangerous downloads and harmful files
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7. Credit cards all have super-high interest rates
While it’s true lots of credit cards do have ridiculously high rates, that’s not always true.
If you have outstanding credit card debt, getting a new 0% intro APR credit card could help ease the pressure while you pay down your balances
Our credit card experts identified top credit cards that are perfect for anyone looking to pay down debt and not add to it!
Click through to see what all the hype is about
8. You get what you pay for when it comes to wireless
If you’re with a major carrier, pull up your last phone bill right now. Chances are, you’re paying $70-100+ per month for unlimited data – money that could be growing in your investment accounts instead.
Mint Mobile
Customers get unlimited talk, text, and high-speed 5G • 4G data on the nation’s largest 5G network, with no hard data caps. Over 2 million people have already made the switch.
Still unsure about coverage quality? Every Mint plan comes with a 7-Day Money-Back Guarantee for purchases made on Mint Mobile
Switching is simple: bring your own phone and number, and get started in as little as 15 minutes.
Calculate Your Exact Savings Based on Your Current Bill
See additional terms and conditions, here.
9. There’s no “free lunch”
Another example of getting free money: getting paid simply for opening a better bank account.
If you’re banking at a traditional brick-and-mortar bank, you’re getting ripped off. They’re charging you monthly for a checking account and paying a pittance on your savings.
Better idea? SoFi
Direct-deposit $5,000 or more within the first 25 days, you’ll get up to a $300 bonus
That’s free money.
Check out SoFi right now
Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account andpay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Rates variable, subject to change.
Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
10. Life insurance is too expensive
What would happen to your family if you died today? If you don’t like the answer, do something about it.
If you’re between the ages of 20 and 59, and not living in New York, check out a term life insurance policy. It’s probably cheaper than you think.
For example, Ethos is one company where you can find up to $3 million in coverage
Better yet, there’s typically no medical exam, ** and 90% of applicants get instant approval. They even offer free will and estate planning tools valued at $898.*
Peace of mind is only a click away. Check out their easy online application
Perks: *Estate Planning Tools are available with the purchase of an eligible policy; not available in SD or WA. Pricing: *Term length, health, age, coverage amount, No medical exams. **Answer a few health questions
11. Weight loss meds cost a lot
Priced out of GLP-1 weight loss meds?
An industry-leading platform called Found
Take the 3-minute quiz to check your coverage
Here is why this platform is dominating online weight loss:
Found checks your insurance instantly: Found’s 3-minute online eligibility checker does the heavy lifting for you. One in three people successfully use their insurance, dropping GLP-1 prices to as low as $3 a day.
GLP-1 cash prices are highly affordable: No insurance? No problem. You still get access to safe, high-quality compounded GLP-1s starting at just $149 a month.
FDA-approved options fit your biology: A board-certified clinician evaluates your needs to prescribe the exact right medication — whether that is Semaglutide or Tirzepatide, an injection, or a daily pill.
Found offers an instant $100 discount: Right now, new members get $100 off their first month
Stop fighting your biology alone:
These medications are clinically proven to help patients lose up to 20% of their body weight.
Lock in your $100 discount and get started today
Bonus lie: Good money advice is expensive
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Do your future self a favor and subscribe right now.
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