It's easy to get financial advice — almost too easy, actually.

Some of the advice you see on social media these days may not be the best advice. You may hear advice about canceling your credit cards or putting off saving for retirement until you're more established in your career — both are bad ideas! Here, we debunk a few of the myths circulating these days.

Myth: Credit cards are bad for your financial health.

Reality: Credit cards are only bad for your financial health if you spend more than you can afford! Credit cards can come with a wealth of protections and benefits, including rewards points and cash back, but you need to use them smartly. Try your best to pay off your credit cards in full every month to avoid interest charges, and pay attention to the benefits that your cards may offer. (CommonWealth One's Signature Rewards^® VISA credit card offers discounts and savings to certain stores, spending alerts and even concierge services. Learn more at cofcu.org/lending/credit-cards.)

Myth: If you don't have a pile of cash, it's not worth trying to invest.

Reality: You don't need a lot of money to get started investing — and with relatively high interest rates and solid stock market returns these days, investing is definitely worthwhile. If you're just starting out, contact or tap into the CommonWealth One Financial Network for good advice. There are ways to get started investing with much less money than you may think!

Myth: My partner manages our finances, so I don’t need to worry about money.

Reality: Every adult should have a handle on the family’s finances. While it is fine for one partner to actively manage the budget and bill payments, it is crucial for both partners to be aware of the state of the family finances and be capable of managing it if something happens to the person managing the money.

Myth: I’m too young to worry about retirement savings.

Reality: There’s no better time to start planning and saving for your retirement than right now. In fact, the younger you start building your retirement fund, the less you’ll have to put away each month, and the more you’ll save by the time you’re ready to retire. Gift yourself with a comfortable, stress-free retirement by starting to save as early as possible.

Myth: I'm not old enough to need life insurance.

Reality: You probably are old enough! The younger you are, the easier and less expensive it is to get life insurance to help cover your final expenses from breaking a lease or paying off your house to paying for your funeral. If you're thinking about getting married and having children, life insurance is especially important so you can ensure they're taken care of if the worst should happen to you.

If you're not sure if something you hear is a myth or not, come see us! The team at CommonWealth One is here for you, for life, and we'll help you sort out fact from fiction when it comes to your finances. Don't hesitate to reach out to us by calling, sending us a message through online banking, sending us a chat request or even stopping by your local branch.