4 Money Misconceptions That Will Ruin Your Future
- A good salary means you’re financially secure
Wrong! It’s a good attitude towards money that means you’re financially secure.
- Everything will work itself out when the time comes e.g. having a comfortable retirement
Wrong! Time is fixed so once it’s gone, you can’t get it back. That’s why it’s so important to have a budget and plan, not only to tackle obstacles as they come, but maintain the lifestyle you desire.
- Budgets don’t always work
Wrong! As long as you are budgeting properly, based on sound principles, they will always work. Benjamin Franklin once said “if you fail to plan, you are planning to fail”.
- I don’t need to save unless I have a purpose
Wrong! You should always be putting money aside for 2 reasons … emergencies and opportunities. Image you get an opportunity to reach one of your goals, an opportunity of a lifetime, but you don’t have the money to obtain the dream. That’s why MWL help their clients to structure plans based on their goals, no matter what they are.
If you identify with even one of these misconceptions, it’s probably a good idea to speak to a professional who can show you how to take control of your wealth and own your success.