“Though they may seem correct on the surface, these personal finance myths could be costing you a fortune,” writes Sean Williams.
1. I don’t earn enough to save money
2. A penny saved is a penny earned
3. Assets should be allocated based on a set formula
4. Cash is king
5. I have to be rich to invest in the stock market
6. A home is a good investment (my favorite)
7. Credit cards are bad news
8. Carrying a balance helps your credit score
9. Social Security won’t be around when I retire
10. Wills are only for rich people
Read the details that explain why at: http://www.fool.com/investing/2016/09/25/10-egregiously-bad-personal-finance-myths.aspx
Source: Financial Planning for Women