52 Simple Ways to Manage Your Money – 46. My Mother Told Me So – Myths
What it is…
A myth is a story which has been repeated so often that it appears to be the truth. Sample myths that you should question: “You should never touch your principle.” “People should always own a home.” “Two can live cheaper than one.” “A safe investment is a guaranteed interest rate.” “Men handle money better than women.”
How it hurts…
They can stop you from thinking independently.
They can limit the possibilities that you see.
Key items to look for…
Reality may differ from the myth.
Avoid basing your decisions only on myths or stereotypes.
Compare reality with what you want to believe.
Time …
An ongoing awareness.
Keys to action …
Get a second or third opinion. Other perspectives can help you sort out fact from fiction.
SET IT UP
Be aware of your own willingness to accept myths as fact.
STEP ON IT
Ask questions of the persons who give you advice— genuine experts have much data to back them up.
STEP ON IT +
Stick to your plan.
Your goals were developed by you for your conditions.
Notice…
Your feelings about questioning the words of another person.
Whether you find it difficult to ask for more information or to say “no.”
Whom you accept as authority figures.
Evidence of your successes with money.
The origin of the myth. Family? Work? Society?
But what if …
My friends find out that I didn’t follow their advice?
- Listen to them and then decide what is right for you.
Thought primers…
When I follow rules, I…
Father/Mother always said chat I should…
The good thing about following the crowd might be…
When I think of doing things differently from others, I…
Thinking independently means…
Breaking the rules might mean…
