Myths can be wonderful things inspiring and cautioning us. The noble King Arthur and his round table, or Icharus flying too close to the sun and melting off his wings. Myths only become a problem when people believe them. Money is the subject of many myths, and too many people have come to believe them as truth. On this edition of MoneyWise, Rob West and Steve Moore look at three of the most common financial fantasies.
Next, they answer your questions at (800) 525-7000 and Questions@MoneyWise.org about the following:
- If you have good credit and you just paid off your house and car, why would your credit rating have gone down recently?
- If you currently have a good bit of debt due to a job loss, would it be alright to cut back on tithing?
- If your job is offering a pension payout and you took their offer and found another job, how would that affect your Social Security?
- If you have a timeshare that you've never used for more than 30 years maintenance fees are high, how do you get rid of it?
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