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10 money myths that are keeping you Broke.
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Being broke is not a life sentence.
The reason you're broke boils down to one main idea
You spend more money that you make.
And here are 10 money myths that are keeping you broke.
The reason you're broke boils down to one main idea
You spend more money that you make.
And here are 10 money myths that are keeping you broke.
Myth # 1: You're just not good with money.
This is 100% a limiting belief.
You made it up, and you can do better.
Yep, it's a choice.
Telling yourself that you're not good with money
lets you off the hook for taking care of your finances.
This is 100% a limiting belief.
You made it up, and you can do better.
Yep, it's a choice.
Telling yourself that you're not good with money
lets you off the hook for taking care of your finances.
Myth #2: You need a credit card for emergencies.
Nope! Credit cards are NOT a solution to emergencies.
You know what is? An emergency fund.
Having money set aside when something
unfortunate happens is what will save you.
You recue yourself.
Nope! Credit cards are NOT a solution to emergencies.
You know what is? An emergency fund.
Having money set aside when something
unfortunate happens is what will save you.
You recue yourself.
Credit cards exist so banks an
financial institution can make Money off of you.
Next time you feel flattered by a credit card offer or proud when you get approved, don't be.
The banks aren't doing you a favor. They want you to depend on them.
That's their business.
financial institution can make Money off of you.
Next time you feel flattered by a credit card offer or proud when you get approved, don't be.
The banks aren't doing you a favor. They want you to depend on them.
That's their business.
Myth #3: You can't afford to save money.
Since now you know that you pay more
for everything when you use credit cards,
and you know you need an
emergency fund,
it's time to let go of the belief that
you can't save money.
Since now you know that you pay more
for everything when you use credit cards,
and you know you need an
emergency fund,
it's time to let go of the belief that
you can't save money.
Myth #4: You deserve nice things.
We are constantly being bombarded with messages that declare that we
deserve to spend money on ourselves.
We are being marketed to constantly:
Nice things and deserving them
have absolutely nothing to do with each other.
We are constantly being bombarded with messages that declare that we
deserve to spend money on ourselves.
We are being marketed to constantly:
Nice things and deserving them
have absolutely nothing to do with each other.
Myth #5: Car payments are normal.
Car loans are common, but that doesn't make them a good thing.
Car payments are one of the most unnecessary kinds of debt.
Like with credit cards, you're making the bank richer, and paying far more
than you need to, If you have car payments.
Car loans are common, but that doesn't make them a good thing.
Car payments are one of the most unnecessary kinds of debt.
Like with credit cards, you're making the bank richer, and paying far more
than you need to, If you have car payments.
Myth #6: You can't afford to pay off your debt.
Do you feel like you'll be stuck with debt for life?
Like you'll never get it together
earn enough to be debt free?
It doesn't have to be that way!
It does take some focus and effort, but absolutely anyone can do it.
Do you feel like you'll be stuck with debt for life?
Like you'll never get it together
earn enough to be debt free?
It doesn't have to be that way!
It does take some focus and effort, but absolutely anyone can do it.
Myth #7: You have to borrow money to buy things.
We've established that car loans and credit cards are keeping you broke.
This holds true for all borrowed money.
Adopt the mantra: If I can't pay cash for it, I can't afford it.
You will always be broke if you borrow money.
We've established that car loans and credit cards are keeping you broke.
This holds true for all borrowed money.
Adopt the mantra: If I can't pay cash for it, I can't afford it.
You will always be broke if you borrow money.
Myth #8: Debt is good for your credit.
If you're holding on to your debt because of some wacky notion that
it helps you "build your credit" please stop now.
That is one of those rumors that
credit card companies
like to circulate so they can keep people in debt.
If you're holding on to your debt because of some wacky notion that
it helps you "build your credit" please stop now.
That is one of those rumors that
credit card companies
like to circulate so they can keep people in debt.
Myth #9: Budgets are only for Accountants.
If you don't have a plan for your money,
it will evaporate before you can even think of being smart with it.
Budgets aren't about restrictions.
They're about the freedom that comes with less money stress.
If you don't have a plan for your money,
it will evaporate before you can even think of being smart with it.
Budgets aren't about restrictions.
They're about the freedom that comes with less money stress.
Myth #10: You need a bigger house.
The BS idea of a starter home is another lie brough to us by
financial institutions, intent on selling more mortgages.
They want us to think about trading up to a bigger fancier house as
soon as we can " afford it"
The BS idea of a starter home is another lie brough to us by
financial institutions, intent on selling more mortgages.
They want us to think about trading up to a bigger fancier house as
soon as we can " afford it"
Bigger houses come with bigger bills.
Higher mortgage payments plus more costs to heat and cool it, furnish it etc
Far too many people are house poor.
Not to mention that you can't foresee the future.
Your income is not guaranteed for life.
Higher mortgage payments plus more costs to heat and cool it, furnish it etc
Far too many people are house poor.
Not to mention that you can't foresee the future.
Your income is not guaranteed for life.
I hope debunking some of these popular money myths will lead you on a better financial path.
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https://twitter.com/limitlessmindon/status/1338348131340193793?s=19
