It is no longer necessary to hide under what your parents taught you, as the subject of money should not be considered a taboo or a topic that should not be debated.
According to Chelsea Ransom-Cooper, Director of Financial Planning at Zenith Wealth Partners and Financial Planner certified, it is extremely crucial to discuss money and update our knowledge of financial practices common.
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In an interview to CNBC Make It, she highlighted the importance of having open conversations about finances, precisely because it is fundamental to assume the responsibility of seeking financial knowledge.
The expert emphasizes the importance of educating yourself on the subject and having access to financial education and counseling resources.
As young professionals enter the workforce, it is important to question and debunk the common myths about money that have been passed down for generations, as pointed out by finance.
Here are 3 of those myths that urgently need to be deconstructed!
Don't believe what you've been told: it's a myth!
1. Only invest who is rich
According to Ransom-Cooper, the notion that investing is exclusive to the rich is antiquated and needs to be left behind. She also points out that it is not necessary to pay off all debts before starting to invest.
These misconceptions can limit young professionals' opportunities to maximize their financial potential.
2. You will be rich when you have a house
It's a misconception that buying a home is the only way to build wealth as a young professional. There are so many ways to build wealth these days, and it's essential to explore all available options.
The expert highlights the importance of questioning the motivation behind this decision and encourages young people to develop a personal financial strategy that makes sense to them, rather than following patterns set by parents or school. society.
3. Have a checking and savings account at the same bank
The expert points out that traditional banks often offer very low interest rates for savings, which limits the potential for earnings.
Instead, she recommends exploring online banking options or higher-yield savings accounts to take advantage of more favorable interest rates and maximize money growth.
That is, it is nothing more than a mistake to have accounts in only one bank.
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