Most people are not as smart about money as they think they are. That's according to the nation's largest online financial services marketplace Lending Tree.

It surveyed more than 1,500 consumers last month. The questions aimed to gauge consumer knowledge of common money myths and to understand where Americans are learning about personal finance.

According to Lending Tree, 96-percent of Americans hold on to at least one false belief about finances. For example, 45-percent believe that carrying a credit card balance helps your credit score. And more than a quarter of those 40 and younger don't think they need to be saving for retirement.

Also, more than one-third say they know more about money than their parents do.

Common Money Myths

1. Myth: Carrying a balance on your credit card will help your credit score.

• 73% have heard this statement before
• 45% think it's true

2. Myth: It's bad to use a credit card. You should always use cash or debit.

• 69% have heard this statement before
• 31% think it's true

3. Myth: It's best to change your tax withholdings to '0' so you get a bigger paycheck.

• 65% have heard this statement before
• 40% think it's true

4. Myth: Renting is just throwing money away.

• 77% have heard this statement before
• 57% think it's true

5. Myth: You shouldn't invest until you've paid off all your debt.

• 63% have heard this statement before
• 42% think it's true

6. Myth: There is no reason to save for retirement if you're under the age of 40.

• 58% have heard this statement before
• 21% think it's true