Financial Myth busters: 10 Money Beliefs That Are Secretly Making You Poor
Introduction Have you ever heard that “renting is a waste of money” or “you need to be rich to start investing” ? These are just a few of the common financial myths that could be preventing you from achieving true financial success. Many people unknowingly follow outdated money advice that leads to poor financial decisions . In this blog, let’s bust 10 popular money myths and uncover practical strategies to help you save more, invest smarter, and build long-term wealth . 1. More Income = More Wealth 🚫 Myth: Earning more money automatically makes you rich. ✅ Truth: It’s not about how much you earn but how much you save and invest . Many high earners still live paycheck to paycheck due to poor financial management. 💡 What to Do Instead: ✔ Track expenses and follow a budgeting system (e.g., the 50-30-20 rule). ✔ Focus on saving, investing, and creating passive income sources . 2. Fixed Deposits (FDs) Are the Best Investment 🚫 Myth: FDs are the safest and smartest way...