The Real April Fools? Believing These Money Myths

April Fools’ Day: the one day a year we get to prank our friends and laugh at ourselves a little. But when it comes to money, some of us are still falling for myths that are costing us big time—and the joke’s on us.

We’ve all heard those old-school sayings about money: Credit cards are evil. Debt is always bad. You need six figures to start investing. And for a while, I believed them too. But with time (and a lot of trial and error), I realized most of these so-called “truths” were holding me back.

So in the spirit of April Fools’ Day, let’s call out some of the worst money myths—and set the record straight.

“You Need Big Bucks to Start Investing”

The Myth: Investing is only for the wealthy.
The Truth: You don’t need thousands of dollars to get started. You just need consistency, patience, and a willingness to learn.

Thanks to compound interest, even small investments can grow into something meaningful over time. I bought my first few shares of Facebook when I was barely scraping together gas money—and I still own them today, no regrets.

If you can afford a coffee from Starbucks, you can invest. The key isn’t the amount—it’s the habit.

“Credit Cards Are a Trap”

The Myth: Using a credit card will wreck your finances.
The Truth: Like most tools, it depends on how you use it. Credit cards can either build your credit or bury you in debt—it’s all in the approach.

When used responsibly, credit cards help boost your credit score, offer fraud protection, and give you perks like cashback or travel points. I haven’t paid for a hotel in 10 years because of my credit card rewards. The trick? I pay off my balance in full every month. No interest, all upside.

If you know the rules, credit cards can absolutely work in your favor.

“Being Debt-Free Is the Only Way to Financial Freedom”

The Myth: All debt is bad and should be avoided at all costs.
The Truth: There’s bad debt, and then there’s strategic debt. Not all debt is created equal.

Yes, high-interest credit card debt? Avoid it. But a mortgage or student loan that helps you build equity or boost your income? That’s different. Used wisely, debt can actually be a stepping stone to long-term wealth.

Financial freedom isn’t about having no debt—it’s about having control over your money and using it intentionally.

“Budgeting Means Cutting Out All the Fun”

The Myth: Budgets are restrictive, boring, and all about saying no.
The Truth: A good budget isn’t about restriction—it’s about alignment.

Your budget should reflect your priorities. Want to travel? Love dining out? That’s fine—just plan for it. I always budget for at least two family trips each year because experiences matter to me. And because it’s baked into my plan, I get to enjoy it guilt-free.

Budgeting isn’t about cutting fun—it’s about making space for what matters most.

“Only High Incomes Achieve Financial Success”

The Myth: You have to earn a lot to build wealth.
The Truth: Wealth has less to do with what you make and more to do with what you keep.

I’ve seen people with modest incomes build impressive financial lives because they lived below their means and built solid habits. On the flip side, I’ve seen six-figure earners live paycheck to paycheck because their lifestyle inflated with their salary.

You can’t out-earn bad money habits. But you can build wealth with small, smart moves made consistently over time.

Final Thoughts: Stop Falling for the Foolery

We’ve all been fooled before. Some of these myths are passed down like family recipes—well-intentioned, but totally outdated.

But here’s the good news: the minute you stop believing the myths, you start building your own truth. One that’s based on education, intention, and real progress—not fear or fiction.

At SIMMER, we’re here to help you cut through the noise and feel more confident with your money—no fluff, no fear, and definitely no fooling.

Want to take the next step in your financial journey?
Join the SIMMER waitlist today and start learning the real rules of money: https://www.simmerapp.ai/signup