5 Personal Finance Myths Which Can Make You Loose Money
Bangalore: Most of the time people carry out notions about personal finances which turn out to be completely false. Even if people are a financially conscious, there are few myths that have fooled many since long.
For instance, if any one tells you that money can’t buy love, you will get many arguable answers. It is up to you to believe it or not! Similarly there are many myths that happen to be everyday beliefs about the way we consider and handle money.
Read on to know five such myths that may have fooled you, as listed by Business Insider.
1. Your Budget Is Your Best Friend!
A study conducted by a group of researchers from Brigham Young University and Emory University showed that people who stick to a budget apparently spend 50 percent more on the single item than people who do not follow any budget.
Jeff Larson, co-author of the study and assistant professor of marketing at Brigham Young said that people who tend to stick to budget generally don’t look for same category items available at lower price and usually end up spending more.
