EP243 Money Myths
We often tell ourselves stories to excuse the wrong-doings that we allow to happen in our finances. These limiting beliefs that we have, or excuses we create, can end up hurting our financial situation long-term if we don’t shift our mindset. So, how can we avoid falling into these traps? In this episode, I will be sharing the most common money myths that I see and explaining what you can do if you believe any of them to be true.
Listen in as I explain why you don’t have to be good at math in order to take care of your finances and why even the smallest of steps taken towards educating yourself about your finances can make a difference. You will learn why it is important to start investing from a young age, why you don’t necessarily have to pay off your debt before investing, and how you can become involved in investing with little money.
“Nobody cares more about your life than you, so it’s time to step up.” – Tracey Bissett
This Week on Young Money:
- The importance of investing.
- Why you should start saving for retirement even if you are still young.
- Common money myths you need to stop telling yourself.
- Why you should always have an emergency fund in place.
- What “good debt” is.
- The benefit of evaluating your debt situation often.
Key takeaways:
- Save for retirement.
- Invest your money.
- Take small steps towards financial fitness.
- Educate yourself.
- Evaluate your money mindset.
Resources Mentioned:
- Tracey Bissett – The Money Coach for Entrepreneurs YouTube Channel
- EP044 Dangers of Payday Loans
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP084 3 Myths Sabotaging your Financial Fitness
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP184 Credit Canada Debt Solutions with Keith Emery
- EP216 How to Deal with Debt Overload with Linda Stern, Crowe Soberman
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