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What Money Myths Are You Still Carrying Around?
In the same way that our kids learn money habits by what they see us doing, we likely learned them the same way—from watching our parents. It's time to examine what we think we know about money and put our financial beliefs to the test. Do we really know as much as we think we do? How many of these common money myths are you still carrying around?
1. My banker knows best how to invest my money.
2. If I spend less than I make, I don't need a budget.
3. It's too late to start saving for my kids' college or university tuition now.
4. My house is my best investment.
5. I don't need an emergency fund as long as I have room on my credit card.
6. I don't claim some deductions on my taxes because I don't want to get audited.
7. My job is solid. I get a raise every year.