- - Rachel Cruze: 5 Popular Money Myths That Keep You Broke

Crystal MayerFebruary 7, 2026 at 4:00 AM

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Podcaster and bestselling author Rachel Cruze knows a thing or two about money. The daughter of famed personal finance expert Dave Ramsey has had a lifetime of listening to her dad give advice on how to eliminate debt and build wealth. Now, Cruze has made a name in her own right helping people understand the barriers that may be keeping them broke and living paycheck to paycheck.

In a recent YouTube video, the host told her subscribers about common lies that may be hurting them financially. Here are the five popular money myths that keep you broke, according to Rachel Cruze.

If I Work Hard Enough, I Can Have It All

The first lie that may be hindering financial success, according to Cruze, is that working hard is all that is needed. Unfortunately, while working hard is important it doesn’t mean much if you are not good with what you have. Instead, the personal finance influencer suggested focusing on discipline, character and showing up.

The idea that working hard will equate to success is built into the American ethos. In fact, it is the American dream in many cases. Only 53% of people buy into that idea, according to a study from the Pew Research Center. Another 41% say that the dream was once possible but isn’t anymore.

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Once I Can Afford ‘X,’ I Will Be Happy

The next money myth too many buy into, according to Cruze, is that they ability to buy something will make them happy. She explained that stuff won’t make you happy because there is always a next thing. You become a “rat in the wheel.” Instead, she encouraged her followers to be present and have gratitude.

Wealthy People Never Suffer

Third on the list was that wealthy people never suffer. It perpetuates the idea that money eliminates problems. Unfortunately, as Cruze noted, no level of wealth is going to exclude someone from suffering. Wealthy people still experience sickness, loss and more.

If I Have Enough Money in the Bank, I’ll Be Secure

What’s enough? As Cruze noted, the finish line for how much money is enough to feel secure is always moving. She acknowledged that while money can provide a level of security, it won’t solve all the problems. The perception of wealth or what it takes to be wealthy is individualized and usually changes over time.

Budgeting Restricts My Freedom

The final money myth Cruse mentioned is that budgeting restricts freedom. She noted that the opposite is true, it actually provides more control over income. Budgeting provides insight into spending habits and can help ensure that financial goals are tracked and met. She said that money is a helpful tool but should never become everything.

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