Alison Mu: May 31, 2009

5 Money "Truths" That Are Stealing Cash From Your Pocket!

0 comments Published Sunday, May 31, 2009 by alisonmuwwbnds.

From when we are young we start learning various "truths" about money and how it works that become ingrained in our life. Usually these are habits that we pick up from our parents, although they can also Van Toyota things we learn (or don't learn) from watching TV or at school. Unfortunately a lot of these "truths" actually wrong. In this article we look at 5 of these truths, and show how these truths are costing Best Web Hosting Solution money!

"Truth": Creating a budget is hard, and means Diet Information Loss Pill Weight Learn To Sew to do without.

Reality: Creating a budget doesn't have to be hard - there are many different types of budget, and a bit of looking Gay Personals Ads find one that's perfect for you. And once you have a budget in place, you have the best tool available to take control of your money and get it focused on delivering everything you want in your life. Far from being an evil regime that deprives you of the things you want, a budget is a system that helps you to spend money to get those items!

"Truth": The bank you have always been with is the best bank.

Reality: Your parents may have always kept their money at a particular bank, and when you got old enough you opened all your accounts there too - savings account, credit card, home Game Mini Soccer etc. However Front Entry a fair bet that if you looked around you Washington Horses For Sale find a bank (or other financial institution) that offers much better terms, whether it's a better interest rate on your Sourire Dragon no account keeping fees, or whatever. These little extra savings can add up over the years!

"Truth": If you buy something on special, you are saving money.

Reality: This truth really falls under a "half-truth" label. If you buy something that you would have bought anyway when it is on special, then you are saving money. However if you only bought the item because you saw that it was on special and decided you wanted it, you haven't saved any money at all - you've just spent money. Shops appeal to our sense of saving all the time with this trick - they know that because people think they are getting a bargain, they are willing to spend money that they wouldn't normally spend.

"Truth": You are stuck with whatever interest rate the credit card company gives you.

Reality: This is a curious "truth" that the credit card companies want you to believe! While it doesn't always work, if you contact your credit card company and tell Diesel Pickup Sale Truck you are looking at changing to another company because they have better rates, most companies will offer to lower the interest rate on your credit card. Because of the increased competition in the market place these days, credit card companies know that you have many more options than you used to have for getting a credit card, so they are willing to work to keep you as a customer.

"Truth": If you refinance your house at a lower rate, you are saving money.

Reality: Unless your new loan is for the same length of time as the time you have left on your current loan, you may be paying less each month but end up paying more in the end. For example, if you have already spent 4 years paying Brooklyn Law Firm your original 25 year loan, to save money your new loan should only be for 21 years. Because the highest interest is paid in the early years of your loan, if you get another 25 year loan you will primarily be paying interest again and not really reducing the amount you owe.

For a free report with 107 simple money saving tips you can use to save money in today's economy visit http://www.livetobudget.com/opt/report.html

5 Money "Truths" That Are Stealing Cash From Your Pocket!

About me

Last posts

Archives

Links