Common Money Myths & Debt

Some Common Money Myths and Debt

Don't be fooled by some of the money mythsEach of us has our own pre-conceived ideas as to how money plays a part in our daily lives. Because of those ideas, it’s no wonder money myths are so prevalent. What’s more, this hype perpetuates not only from friends and acquaintances, but financial professionals as well.

Some of these sayings remind me of the saying “old wives tales”, and indeed, they may be. This first one is a good example.

  1. Never payoff your credit card balance in full because it will affect your credit score in a negative way.

Wrong – Keeping an outstanding balance on a credit card will not improve your credit score. View full post…

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