Which of the following is NOT considered a myth regarding debt?

The idea that you spend more money when you use cash is a myth because research has shown that consumers tend to spend less when they use cash compared to credit. When people pay with cash, they are more mindful of their spending because physical money feels more tangible, and they can see the money leaving their hands. This acknowledgment of spending habits suggests that cash users often limit their expenditure, while credit card users may feel less immediate pain when making purchases, leading to potentially higher spending levels.

In contrast, the other statements represent common misconceptions associated with debt and personal finance. Using credit cards can give the illusion of greater purchasing power and can lead to increased spending. Similarly, the belief that credit cards help build good credit can be misleading if not managed responsibly, as mismanagement can negatively affect credit scores. Lastly, the notion that debt is necessary for financial success overlooks the possibility of achieving financial stability and success without relying on borrowed funds.