There’s so much personal finance advice out there that it can be hard to separate the good from the bad. To help make things easier, we gathered some of the most common money myths that financial experts wish would just die, and tell you what the truth really is.
1. Buying a Home is Better Than Renting
Looking for a cheaper spot to settle down? Check out the top 20 cheapest cities to live in Canada.
2. Investment is Only for the Rich
It's really one of the best ways to earn money while you sleep.
3. Invest in Precious Metals
Keep in mind, it's not about the size of your budget, it's how you use it. See 10 ways to make the most of a tight budget.
4. You Can Be Too Old to Invest in the Stock Market
With many retirees now returning to the workforce, here are the 20 best jobs for retirees.
5. A Low Credit Card Balance Will Improve Your Credit Score
6. You Only Need to Make the Minimum Credit Card Payments
Plus, make sure you're not doing any of these dumb things to do with your money in your 30s.
7. You Only Have One Credit Score
8. Cash is Always Better
Plus, don't miss our list of 13 common credit card pitfalls.
9. Earning a Lot Makes You Rich
10. Higher Education Levels Always Earn Higher Salaries
See 20 jobs in Canada that pay over $200K.
11. Two Incomes Are Better Than One
12. Your Emergency Fund Should Cover Three to Six Month’s Expenses
13. You Have to Earn a Lot to Save
Don't believe us? Here are 20 ways to save $1000 a month.