5 Personal Finance Myths Which Can Make You Loose Money
4. Money Can't Buy Happiness
The statement has always provided debatable conclusions. But majority agrees with the fact that money definitely is correlated to happiness. Specifically for those who belong to the low- and middle-income earners.
Research from Princeton University shows that, when people with less income were given opportunity to earn more, their general life viewpoint improved as well. Among the improvements, the subject’s emotional well being, living standard, day-to-day existences also improved.
5. If You Have a Retirement Plan, You Are Prepared
Over 50 percent of the population tends to think that buying a simple retirement plan would make them completely prepared for the rest of their lives.
Many researches over the years show that most of the retired population face financial crisis due to lack of financial support. A good share of the population also suffers from credit card debt. Moreover at times the medical expenses are too much which the medical insurance plans do not cover fully.
