Myths About Money and the Truth You Should Know

Money, Cash, Finance, Wealth, Riches... All these mentioned things are all the same with the goal of having enough money to live life and still be in power over their lives. Money is no doubt very important and this is why it is very important to understand and neglect a few myths why holding up to major facts about money. So, you will permit me to share a few thing about money with you.

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DEBT

This is one myth I am still trying to understand. Is it possible to stay out of debt at all? If you are about to get into a project that is far expensive compared to the current asset, the best thing to do is to get into debt. The fact that you are told never to get into debt is a wrong notion about money. There are people who believe in using other people's money to make more money which is either directly or indirectly debt and unlike using debts for the wrong thing such as buying grocery, using debt to earn more money is a better way to grow business. A lot of big businesses need to get people's money to get going in their business.

Credit Cards

I cannot say you should not use a credit card as they build your credit score, what I will say is that you should know when to use credit cards and never go above your credit limit. You should use your credit card for cases of emergencies and not cases of impulse buying where you pick things because you like it without considering the pros and cons of using the credit card.

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Investing and Trading

This two things are very difficult to get into and understand, so when someone is telling you to start investing and or start day trading, you need to understand that the market is very unpredictable and there are days of highs and lows with the market outsmarting traders on a daily basis.

Rich People are Wicked

A lot of us has been told that it would be easy for a donkey to pass through the eye of a needle than for a rich man to make heaven but we need to understand that the word was a parable and parables are meant to be explained further. Now leaving that, the rich aren't bad people, Money is a tool and should be used rightly instead of thinking of money as a means of making more money.