10 Common Money Myths You Should Know

[GoldenEagle]

10 Common Money Myths You Should Know

 

1. Car payments are a way of life.
2. “Six months same as cash” is a great way to get what you want now. 
3. Never pay your house off because the interest is tax deductible.
4. Credit card reward points are great money makers.
5. I have plenty of time to plan for retirement.
6. I can’t afford life insurance. 
7. Loaning money or co-signing is a great way to help a friend.
8. Student loans are “good debt,” so I shouldn’t worry about how many I get.
9. Playing the lottery should be part of your overall financial plan. 
10. A budget is only for math geeks. 

 

Full article. http://christianpf.com/money-myths/

[angels4u]

10 Common Money Myths You Should Know

 

1. Car payments are a way of life.

2. “Six months same as cash” is a great way to get what you want now. 

3. Never pay your house off because the interest is tax deductible.

4. Credit card reward points are great money makers.

5. I have plenty of time to plan for retirement.

6. I can’t afford life insurance. 

7. Loaning money or co-signing is a great way to help a friend.

8. Student loans are “good debt,” so I shouldn’t worry about how many I get.

9. Playing the lottery should be part of your overall financial plan. 

10. A budget is only for math geeks. 

 

Full article. http://christianpf.com/money-myths/

 

 

 

 

Good advice, do you follow al of them?

I like my pc reward points from a President Choice credit card,but you have to be very careful to pay that bill on the end of the month otherwise I would not advice to get one.

 

Also the life insurance,not everybody can allow to buy life insurance,we don't have life insurance, I have been always careful how to spend   money ,I mean be trying to be responsible how to spend it .and I'm sure God knows my future and He will take care of me until the end. 

[GoldenEagle]

 

10 Common Money Myths You Should Know

 

1. Car payments are a way of life.

2. “Six months same as cash” is a great way to get what you want now. 

3. Never pay your house off because the interest is tax deductible.

4. Credit card reward points are great money makers.

5. I have plenty of time to plan for retirement.

6. I can’t afford life insurance. 

7. Loaning money or co-signing is a great way to help a friend.

8. Student loans are “good debt,” so I shouldn’t worry about how many I get.

9. Playing the lottery should be part of your overall financial plan. 

10. A budget is only for math geeks. 

 

Full article. http://christianpf.com/money-myths/

 

 

 

 

Good advice, do you follow al of them?

I like my pc reward points from a President Choice credit card,but you have to be very careful to pay that bill on the end of the month otherwise I would not advice to get one.

 

Also the life insurance,not everybody can allow to buy life insurance,we don't have life insurance, I have been always careful how to spend   money ,I mean be trying to be responsible how to spend it .and I'm sure God knows my future and He will take care of me until the end. 

 

 

Hey sister.

I don't agree with #4. I think like you if you pay the full credit card bill off on time every month then rewards can be a great asset. I'm going to spend the money anyway why not get 1-5% back on rewards? Or why not get some free mileage? I think though this requires commitment to budgetting, self-discipline, and a plan.

 

As far as life insurance I pay $8-10 a month for a $50,000 for a 10 year term life insurance policy. If something happens to me I don't want to put my wife or family in hardship.

 

Other than a vehicle or house we pay for everything up front. However, currently both our vehicles are paid off. Saving up to try to buy a house cash. At least that's the goal.

 

God bless,

GE

[GoldenEagle]

Loaned money to a friend in need for him to buy a car. Wasn't a good experience for either of us. I say if you can't give a friend/family member a full gift simply give them a partial gift. Loaning friends/family money is not a good idea IMO.