The Most Dangerous Financial Myths
2. ‘Buying things on sale will save you more money’
You can find many people following this myth almost every day. Let’s go for shopping there is a sale going on in that shop! Do you carry this mood often? Then refrain yourself from going to those flashy shops; in fact, you are not actually saving money while buying things on sale. So it is better that you buy them on regular price. Selling products on a discount sale is a marketing strategy that most of the stores use to make money not to save your money. Remember when you actually need something you buy it and if you are buying something at bargained price or just because it is on sale then you are actually wasting your money.
3. ‘Stocks are always best for long run’
Do you really believe in this myth? Then it is high time for you to understand that there’s no such guaranteed asset class that will give great returns in future; as no one can predict the market. The reason is simple the long-term appeal of an investment always depends on how popular it has become. For example, if an asset is less popular then it is believed to give long-term return, and there are cases in past where few asset classes became popular widely but then they didn’t fetch long run return as they were overpriced. Yes! Stocks are best for the long run but only when most of the investors don’t view them.
