You Only Think It’s True: 12 Myths Costing You Time and Money

Martin
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Welcome, dear reader, to your MythBusters guide to life’s expensive little fiction. In the following chapters, we’ll debunk—with panache, wit, and a heavy dose of reality—the twelve most pervasive myths that are sneakily nibbling away at your time and hard-earned money.

Swapping folklore for facts, we aim to arm you with insights that will end unnecessary expenditures and reclaim countless hours wasted on misguided pursuits. Here are 12 myths that cost you time and money. Strap in for a thrilling, myth-busting ride!

Extended warranties are always worth it.

You Only Think It’s True: 12 Myths Costing You Time and Money
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According to Consumer Reports, extended warranties are rarely a good deal for consumers since products seldom break within the extended warranty period.

Paying your mortgage off early saves money.

You Only Think It’s True: 12 Myths Costing You Time and Money
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Well, it isn’t straightforward. Dave Ramsey says while you’ll save on interest if you invest that money instead, you could potentially earn more over time.

Renting is throwing money away.

You Only Think It’s True: 12 Myths Costing You Time and Money
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The Economist argues that this ignores the value of the flexibility that comes with renting. Not everyone is ready for the commitment and responsibility of home ownership.

Buying in bulk always saves money.

You Only Think It’s True: 12 Myths Costing You Time and Money
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Not quite, Sherlock. According to a study by the University of Michigan, buying in bulk can often lead to waste if perishable items aren’t consumed before they spoil. Moreover, bulk purchases tie up your money that could be invested elsewhere.

You need a car in the city.

You Only Think It’s True: 12 Myths Costing You Time and Money
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With the rise of ridesharing and bike sharing, it’s often cheaper and more convenient not to own a car in the city, as per The Washington Post.

Eating healthy is expensive.

You Only Think It’s True: 12 Myths Costing You Time and Money
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A study from the Harvard School of Public Health found that the healthiest diets cost only $1.50 more per day than the least healthy diets.

All debt is bad.

You Only Think It’s True: 12 Myths Costing You Time and Money
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As Robert Kiyosaki says, “Good debt is a powerful tool.” Leveraged responsibly, debt can lead to wealth and prosperity.

Newer is always better.

You Only Think It’s True: 12 Myths Costing You Time and Money
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Many experts argue that buying last year’s model can get you most of the benefits at a significantly reduced cost.

Paying with cash is old-fashioned.

You Only Think It’s True: 12 Myths Costing You Time and Money
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Despite the rise of electronic payment options, there are still scenarios where cash is king and can save you money.

You need a degree to get a good job.

You Only Think It’s True: 12 Myths Costing You Time and Money
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According to the Bureau of Labor Statistics, many high-paying jobs require only vocational training or an associate degree.

Credit cards are a necessity.

You Only Think It’s True: 12 Myths Costing You Time and Money
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While credit cards provide convenience, they can lead to impulse purchases and debt. It’s possible to get by with a debit card and sound budgeting.

Traveling is expensive

You Only Think It’s True: 12 Myths Costing You Time and Money
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Travel can be pricey, but with planning and flexibility, it can be done on a budget. As Mark Twain wrote, “Travel is fatal to prejudice, bigotry, and narrow-mindedness.”

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