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Category Archives: Myths vs. Truths
Myths vs. Truths – The Truth About Joint Bank Accounts
- Exposing the false beliefs of the financial world Myth: Keeping separate bank accounts is a smart way to protect yourself and avoid money fights with your spouse. Truth: Keeping separate bank accounts breeds distrust and helps separate spouses by … Continue reading
Posted in Myths vs. Truths
Tagged bank, bank accounts, couples, joint accounts, joint checking, marriage, marriage & money, money fights
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Myths vs. Truths – The Truth About Extended Warranties
Myth: Extended warranties and service contracts save you maintenance costs over time. Truth: Extended warranties and service contracts make the salesman a lot of money, and rarely pay off for you. Continue reading
Posted in Myths vs. Truths
Tagged consumer, extended warranties, Saving Money, service contracts, warranty
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The Lottery is Not Your Best Chance for Financial Security
Myth: Lottery is my best chance of becoming a millionaire. You can’t win if you don’t play! Truth: You won’t win if you do play. Lottery is a tax on the poor. Let’s look at the facts here. You’ve probably … Continue reading
Posted in Money Myths, Myths vs. Truths
Tagged gambling, Investing, investment, lottery, lotto
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Myths vs. Truths – The Truth About Tax Deductions
Myth: You should avoid paying off “good debts” like home mortgages so you can get a bigger deduction on your taxes. Truth: Making any financial decision based solely on the amount of a tax deduction is a really, really bad idea. Continue reading
Posted in Myths vs. Truths
Tagged IRS, money myths, tax deduction, tax rebate, tax return, taxes
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Myths vs. Truths – The Truth About Credit Cards
Myth: It’s smart to use your credit card if you pay off your balance each month. Truth: Even if you pay them off each month, credit cards are costing you more in the long run. Continue reading
Posted in Myths vs. Truths
Tagged credit, credit cards, debt, money myths, Myths vs. Truths
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Myths vs. Truths – The Truth About Actively Trading Stocks
- Exposing the false beliefs of the financial world Myth: You can get the best return on your investments by getting in and out of the market at the right times. Truth: Actively trading stocks while trying to beat the … Continue reading
Posted in Myths vs. Truths
Tagged Investing, money myths, mutual funds, Myths vs. Truths, stock market
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Myths vs. Truths – The Truth About Your Credit Score
A good credit report is important, but a credit score is basically only needed if you borrow money. In fact, you can’t have a credit score unless you borrow money. Let’s take a look at what determines your FICO score. Continue reading
Posted in Beating Debt, Myths vs. Truths
Tagged credit, credit report, credit score, money myths, Myths vs. Truths
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Myths vs. Truths – The Truth About Car Payments
Myth: Car payments are just a way of life. You’ll always have a car payment. Truth: Car payments are NOT a way of life. In fact, they’re a really, really bad idea. The average millionaire drives a used, paid for vehicle. Don’t think they bought it new or paid cash for it because they have millions of dollars. They have millions of dollars because they pay cash for cars and avoid payments like the plague. Continue reading
Posted in Beating Debt, Myths vs. Truths
Tagged auto loan, car payment, debt myths, money myths, myths
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Myths vs. Truths – The Truth About Debt Consolidation
Consolidating debt works much better for the bank than it does for you. Continue reading
Myths vs. Truths – The Truth About Good Debt and Bad Debt
Exposing the truth about good debt vs bad debt. Continue reading
