The Frugal Duchess: Recovering My Frugal Groove: Grad Money Matters Bust 82 Financial Myths

Saturday, September 22, 2007

Grad Money Matters Bust 82 Financial Myths

Grad Money Matters has posted: Campaign Against Financial Myths: 82 Myths Busted! The series examines "popular myths and misconceptions on several different topics related to finances such as debt, credit cards, investing, mortgage, frugality etc. "

Here are a few of the myths that caught my eye:

"Myth: “Money = Happiness” While money can certainly make life a lot easier, several surveys have reported that rich people are not necessarily happier than the poor people.

Myth: “I could be hit by a bus and die tomorrow. So why bother to save?” Yes, you could be hit by a bus and die tomorrow – so make the best of today. But just in case you don’t get hit by that bus, make sure you have some savings to tide you along.

Myth: “I bought the plasma TV/designer boots/widgets during a sale, so I saved a lot of money.” Unless you really needed the plasma TV/designer boots/widgets, you are only fooling yourself by thinking that you saved money by buying these items - be it on sale or not. "

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