In this world, there are many different types of people. There are people with a lot of education, and those with little. There are people that are rich and there are others that are poor. There are those who think money is good and those who think money is evil. In short, we all live lives that are unique to us however one thing that seems to be common amongst most people is their understanding of money. Most people lack an understanding of how money really works which is holding back their ability to succeed financially therefore, in this article, I will share with you 5 money myths you still believe!
Myth #1: The More Education The Better
If you want to succeed in today’s world you must go to college and get a great education. This is advice that has been passed down from parent to child for countless decades. Because this path has become engrained in our society, many people continue to go down this road. However, with more and more people getting degrees, the value of this certificate has declined in its value. It’s for this reason that people are now pursuing more education to separate themselves from the pack. In the business world we live in today, it may take that advanced degree or extra certificate to help you stand out from other applicants when trying to get that job you’ve been pursuing.
Now, in many cases, getting more education is a smart decision. You can’t become a doctor or lawyer without an extensive education but pursuing numerous degrees doesn’t always make financial sense.
Student loan debt is now the second-highest form of debt in the United States after mortgage debt. It has surpassed both auto loan debt and credit card debt, with over $1.52 trillion owed in 2018, according to Forbes. That comes out to an average of $37,172 per graduating student. Quite frankly, it’s a financial epidemic.
Before getting into any student debt at all, I think it’s smart for students to take the time they need to truly deliberate on the career they want to pursue. This could come in the form of job shadowing or taking a gap year before enrolling in college. Before throwing down thousands of dollars, you should have a very good idea of what field you want to pursue and specific jobs you could see yourself working in upon graduating. Of…