7 White Lies That Could Destroy Your Finances, According to Rachel Cruze and George Kamel

Being honest isn’t always easy — especially when money is involved. However, it’s often easy to tell white lies that seem harmless but can actually be detrimental to your finances .

Check Out: I Followed Mark Cuban’s Genius Advice and Am on Track To Become a Millionaire

Learn More: 7 Reasons You Should Consider a Financial Advisor — Even If You’re Not Wealthy

On a recent episode of their “Smart Money Happy Hour” podcast, Rachel Cruze and George Kamel discussed several common white lies that can be costly. Keep reading to find out if you’re guilty of making these false claims .

‘It won’t take me that long to pay this off.’

It’s not uncommon for people to make a purchase they can’t afford under the pretext that they’ll pay the balance off soon. Whether the balance is put on a credit card or a loan is taken out, this white lie is essentially an excuse to buy something you don’t currently have the funds to cover.

Instead of doing this, Cruze and Kamel agreed the better route is to save up, and then make the purchase when you can actually afford it.

‘I’ll start investing later.’

If you’re not currently investing, Cruze and Kamel said it’s easy to keep pushing it off. You might say you’ll start investing later, but they said that may never happen, leaving you filled with regret later in life.

Getting started can be a challenge, so they said to just make today the day you start. This ensures you’re making your future a priority.

Despite this advice, they did agree that it’s OK to pause investing while you’re getting out of debt or working to build an emergency fund.

Discover More: I’m a Self-Made Millionaire: Here’s the Lightbulb Moment that Helped Me Make My First Million

‘The government will forgive my student loans eventually.’

This has been a hot topic in recent years, but the government won’t pay off your student loans. Instead, Cruze and Kamel said you need to take personal ownership and responsibility for your student debt.

You’re the one who racked this debt up, so they said you need to fix the situation — i.e., pay the debt off.

‘I’ll eat less so I can buy _____.’

It’s not uncommon to claim you’ll cut back on a necessity like food, shelter, utilities or transportation costs to afford something you want. However, Cruze and Kamel said this is a sign your priorities are out of order.

If you have to sacrifice things you need to pay for things you want, you probably shouldn’t be making the purchase.

‘Next time it’s my treat.’

When dining with friends, co-workers or family, it’s common for one person to pick up the tab.

If you’re like many people, you may feel uncomfortable with this generosity. This may cause you to try to pay your portion anyway or declare you’ll pay the bill next time.

Instead, Cruze and Kamel said to just accept the gift and thank the other person for paying your share. If you want to pick up the tab next time, you can do so, but this can help you avoid any anxiety surrounding the payback situation.

‘I’m going to return most of it anyway.’

If you’re like many people, you shop online — or in-store without trying on — and justify any overspending with this white lie. Cruze and Kamel said this is an excuse to blatantly overspend now and procrastinate fixing the situation.

In reality, they said you may not even end up returning any of these items. Even if you do, you may just consider the money a credit to buy more.

Therefore, they said to put items back if the total amount in your cart isn’t in the budget.

‘I’m just not good with money.’

It can be easy to rationalize constant spending errors when you brush them off as just being bad with money. Cruze and Kamel said this is just an excuse in disguise to avoid being honest with yourself about your poor money habits or to educate yourself.

Instead of hiding behind this white lie, they said to own your mistakes, be accountable for your spending, gain the financial knowledge you need and create good habits.

This article originally appeared on GOBankingRates.com : 7 White Lies That Could Destroy Your Finances, According to Rachel Cruze and George Kamel