The myths surrounding money are numerous and widely held, especially among the young. It’s a shame, because pursuing myths will lead you astray, waste your time and, taken to extremes, ruin your life. Here are 4 popular misconceptions about money that experience has taught me are more often fiction than fact.
- Money will help me find love:
In my experience with women, they’re not attracted to money. They are, however, attracted to ambition and intelligence, especially when it presents as humor. Everyone’s attracted to people who are self-confident, non-needy, and able to laugh at themselves.
- More money less problems:
Money doesn’t end anxiety. It gives you something else to be anxious about: losing your money. Granted, those without enough money to eat or keep a roof over their heads have lots to worry about. To quote the great philosopher Christopher Wallace better known as Biggie Smalls who said it best “Mo Money Mo Problems”.
- Personal Loan Rates Vary Greatly Per Lender:
Most people think that the rates of different lenders vary greatly. The truth is that usually, lenders would charge only 1% to 5% interest fees. The extra amounts are fees that a lender would charge aside from the interest fee. For you not to be misled, you must always ask the lender what exactly the fees are before you borrow.
- Paying Others First:
Don’t pay others first, pay yourself first. You are taught not to be self-centered but when it comes to money, be self-centered — pay yourself first and bill collectors next. This seems impossible when you first start, but it works like magic once you commit and you will actually see yourself cutting unnecessary expenses and creating more income to meet your REAL requirements.
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