Never Fall For These 10 Personal Finance Myths

2. Earning more will make you rich

I have 10 digit salary per annum I will be rich soon! Do you feel the same? If yes then you are having a false notion. Not just earning but saving and investing can save your money and make you rich in future. Often people start spending more money, when they start earning more. This happens when they get additional access to cash and buy things that they have been planning since long. Think twice before you spend lavishly as some high-earning individuals do, but then you have a budget to follow. Wealth is always defined by liquid assets and investments you own not how much you earn from a job.

3. Money can make you both happy and unhappy

More the money more the happiness! Well this is not true. Money is not god and is devoid of any power that will make you happy or sad. Then what is it? Money does not have the power in and of itself to make you happy or unhappy. Money is arguably an important factor but only to fulfill your basic needs, extra money might make you greedy.

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