Tuesday, June 14, 2011

5 Money 'Rules' Meant to be Broken

There are many money "truisms" that can keep you in the poorhouse.

You've probably heard them all, from ancient admonishments against any borrowing, to modern urban legends such as "you have to carry a balance to build credit."
So while some money rules should be taken with a grain of salt, others just need to be thrown out with the trash.

"A lot of times there's that kernel of truth in there," says Bill Druliner, financial counselor and group manager for GreenPath Debt Solutions. "Or it's true in some situations and not in all in others."

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