Financial Excellence

04 May Myths vs. Truths – The Truth About Credit Cards

- Exposing the false beliefs of the financial world 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. money down the drain with credit cardsI know, I know. You're not like everyone else who carries high balances on their cards. You only use your credit card to buy what you need. You only keep one or two credit cards for emergencies and you only charge what you can pay off that month. Well, only 58% of you out there keep a balance on their cards, so you very well may be in the somewhat large group of people that do actually pay off your card each month. And that means you're doing better than the 42% of those who carry a balance and pay that high interest for the privilege of getting what they want today instead of waiting until they can pay for it in full. But don't celebrate yet. Simply using the card may be doing more damage than you realize.
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26 Apr 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. [caption id="attachment_2214" align="alignright" width="150" caption="Timing the Market"]Investing[/caption] Truth: Actively trading stocks while trying to beat the market doesn't work! The truth is you'll end up buying high and selling low while trying to chase performance. Avoiding debt and sticking to a long term investment plan with proper asset allocation is the absolute best way to build wealth.
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