What if much of what you think you know is wrong?

Just because a belief is widespread and pervasive doesn’t mean that it’s true. If you read or hear something about personal finance or money, take a few moments to think it through. Do some independent research to see if there could be another side to the coin. And never let a financial myth stand in the way of achieving your financial goals. The only way one of these money myths can stop you is if you believe it.

I assembled some pervasive money myths after listening to unsuccessful people over the years. This is a big list, but I’ll bet you have a few you could add to it. Which of these have you heard?

1. I don’t need to start a business or ask for a raise, I’ll just wind up paying more in taxes anyway.

2. Saving 10 percent of my income is plenty to carry me to financial freedom in my retirement.

3. There is a magic bullet out there somewhere that will make me rich – I just need to find it.

4, All credit cards are alike.

5. Budgeting is for nerds. I don’t need to waste my time.

6. A few late payments on my credit card won’t hurt my credit score.

7. A few bounced checks won’t hurt me either. The bank knows I’m good for it!

8. An emergency fund is for someone who always lives in fear.

9. I don’t want anything expensive so I don’t need a savings account.

10. I’m debt free so I don’t have to worry about managing my money or budgeting.

11. More money will make me happy.

12. I’m renting out my home while I’m living in another city but I don’t need to tell my homeowners insurance company.

13. I can’t switch checking accounts because I’m using overdraft protection.

14. I can eat out at restaurants as cheaply as I can prepare meals at home.

15. The more credit cards I apply for, the better.

16. I don’t need a will since my spouse and I own everything jointly.

17. My home equity is my retirement plan.

18. I don’t make enough money to save.

19. Going to a private college is always worth the cost.

20. Individual stocks are the best investment for the long run.

21. I can time my stock buys and sells to take advantage of trends in the market.

22. No one can pick stocks effectively.

23. Renting a home is like throwing money away.

24. My work is just a job and all I need to do is enough to not get fired.

25. All loaded mutual funds are bad and any no-load fund is better.

26. I don’t need to understand “how” an ETF makes money, I just need to know that it does.

27. All mortgage companies have the same rates and fees.

28. Real estate agents really understand the ins and outs of personal finance.

29. I’m not very good at math so I can’t manage my own money.

30. I always get a raise and a bonus every year so I don’t need to worry about setting up a budget.

31. Being happy is a direct result of being able to buy whatever I want.

32. Money is the source of all evil and trying to make more money is a bad thing.

33. It’s a fantasy to imagine that someone would PAY me to do what I love.

34. With today’s low interest rates, I’m better off keeping my money under a mattress rather than in a savings account.

35. I can make extra money anytime I want.

36. Making extra cash by using the Internet is easy.

37. You always get what you pay for.

38. The US income tax is illegal and voluntary according to their own charter.

39. One of the major advantages of home ownership is the ability to deduct your mortgage interest on your income taxes.

40. Real estate investing is the answer to all my financial problems.

41. Late night television infomercials have great ideas for making more money.

42. Don’t worry about the fine print – credit issuers won’t put anything nefarious in the contract.

43. Bad credit won’t stop me from getting a great job.

44. Bad credit won’t stop me from renting my dream apartment either.

45. Unemployment benefits will keep me afloat for six months or more.

46. I shouldn’t deprive myself of anything.

47. It’s too late to do anything about college financial aid.

48. Money is scarce.

49. Paying all bills online is always cheaper.

50. If I decide to walk away from my home, the mortgage company won’t care because they get to sell the home and keep the profit.

51. I’m too old to start saving now.

52. I’m too young to save just yet.

53. I’m middle aged and still trying to get established so I don’t need to save either.

54. I don’t need to worry with protecting my identity.

55. Term life insurance is always the best bet.

56. I’m too young to waste money on life insurance.

57. I don’t need any life insurance because no one is dependent on my income.

58. No matter how much I have on deposit at the bank, I’m protected by the FDIC.

59. A debt consolidation loan is the answer to my problems.

60. I can declare bankruptcy on my student loans and get rid of them forever.

61. Bad credit will follow me for the rest of my life.

62. All credit cards come with automatic travel insurance.

63. Life insurance is voided in cases of suicide.

64. Only the rich pay higher taxes.

65. Stockbrokers are required to have my best interests at heart.

66. When the market hits the skids, it’s time to sell everything.

67. A 401(k) is always the best way for me to save for retirement.

68. I don’t have the time to develop a side income.

69. I’m smart enough to do everything financial on my own.

70. I can’t find a job that I really want.

71. Whatever it is, it won’t happen to me.

72. It’s useless to save money for college because my kids will be less eligible for financial aid if I do.

73. Once you hit your salary goal, you’ll be satisfied.

74. I can change my phone number and get those debt collectors off my back.

75. Using Consolidated Credit Counseling will hurt my credit.

76. If something is on sale, it makes sense to buy it … just in case you need it later.

77. Actively traded mutual funds outperform index funds.

78. To retire, you’ll need 80 percent of your current income.

79. Retirement means kicking back and relaxing all the time.

80. I shouldn’t worry about paying off my mortgage early.

81. I can’t do anything to positively affect my credit report.

82. Young people don’t have credit scores.

83. A bigger home is a sign of success.

84. You can get full Social Security benefits at age 65.

85. Money experts are skillful with numbers.

86. When layoffs are coming at work, it’s best to stay under the radar.

87. My credit score will improve if I always carry a balance.

88. I need a large sum of money to start investing.

89. The government will take care of my mortgage if I have problems paying it.

90. Borrowing funds to invest (using other people’s money) is a sure-fire way to make a fortune.

91. I make rational, reasoned decisions when I spend money.

92. A stack of credit cards could be used to successfully fund a new business.

93. I should buy GOLD!

94. There aren’t any really creative ways for me to save money.

95. Minimum payments on my credit cards are okay.

96. I can’t increase my value at work.

97. I don’t need any particular strategy when paying off debt.

98.I need someone else to help clear up my credit.

99. MY job is secure.

100. I’m too old to buy life insurance.

101. There’s nothing money can’t buy.