Originally posted on Consumers CU:
Many thanks to Nico Leyva for today’s guest post. Nico writes for Nerdwallet, a consumer finance website that promotes financial literacy and looks for the best ways to save you money.
You’ve probably heard the story about a friend who mixed cola and pop rocks to disastrous effect, or at least heard it secondhand from a friend of a friend, who heard it from their cousin…you get the picture. Urban legends and myths exist in every part of the world, and everyone seems to have a story that pertains to a certain aspect of life, whether it’s a first relationship, buying a new car, or going to college.
Personal finance is no different, and despite the fact that evidence can disprove most, if not all of them, many misconceptions retain their power. We’ve put together a list of common personal finance myths, and at least one reason why…
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