Many people struggle to build wealth because they believe common misconceptions. These myths can prevent you from making smart financial decisions and achieving long-term success. Let’s debunk the most harmful wealth-building myths holding you back.
Myth 1: You Need a High Income to Build Wealth
While a high income helps, wealth is built through smart saving and investing, not just earning more. Many millionaires started with modest salaries but prioritized budgeting, avoiding debt, and investing early. Focus on growing your net worth, not just your paycheck.