{"id":13747,"date":"2019-12-05T16:43:34","date_gmt":"2019-12-05T16:43:34","guid":{"rendered":"https:\/\/flexxzone.fcmb.com\/?p=13747"},"modified":"2019-12-16T11:47:31","modified_gmt":"2019-12-16T11:47:31","slug":"five-money-misconceptions-you-should-ignore","status":"publish","type":"post","link":"https:\/\/flexxzone.fcmb.com\/2019\/12\/five-money-misconceptions-you-should-ignore\/","title":{"rendered":"Five Money Misconceptions You Should Ignore"},"content":{"rendered":"<p>There\u2019s so much information about money out there- advice, tips, tricks and more. As a result, most people end up consuming information without being able to filter out myths and misconceptions.<\/p>\n<p>Truth be told, it\u2019s hard to separate facts from myths sometimes, especially when it comes to something as popular and controversial as money. So, we\u2019ve put together some of the biggest myths and misconceptions you should avoid, regarding the legal tender.<\/p>\n<p>Check them out:<\/p>\n<h3>You Need A Lot of Money To Start Investing<\/h3>\n<p><iframe class=\"giphy-embed\" src=\"https:\/\/giphy.com\/embed\/d3esZCZswxLI8UOA\" width=\"480\" height=\"270\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><a href=\"https:\/\/giphy.com\/gifs\/ufc-sport-d3esZCZswxLI8UOA\" target=\"_blank\" rel=\"noopener\">via GIPHY<\/a><\/p>\n<p>This is false. Contrary to popular opinion, you do not need a lot of money to start investing. With as little as 5,000 Naira, you can invest in several opportunities and increase your input as time goes on. If you haven\u2019t started investing, it\u2019s not too late!<\/p>\n<h3>Earning A Good Salary Means You\u2019re Financially Secure<\/h3>\n<p><iframe class=\"giphy-embed\" src=\"https:\/\/giphy.com\/embed\/fLyfhjZr9g47fTJMuk\" width=\"480\" height=\"480\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><a href=\"https:\/\/giphy.com\/gifs\/Bounce-TV-black-drama-fLyfhjZr9g47fTJMuk\" target=\"_blank\" rel=\"noopener\">via GIPHY<\/a><\/p>\n<p>The truth is, getting a good pay doesn\u2019t automatically guarantee you financial security unless you back it up by practising good financial habits. If you don\u2019t have a reasonable budget, monthly savings, investments, emergency funds, financial goals and more, you\u2019ll be many steps further from financial security. An excellent salary is only a step. You need to do more.<\/p>\n<p><strong>Top Flexxzone Picks<\/strong><br \/>\n<a href=\"https:\/\/flexxzone.fcmb.com\/2019\/08\/09\/money-moves-you-should-be-making-right-now\/\">Money Moves You Should Be Making Right Now<\/a><br \/>\n<a href=\"https:\/\/flexxzone.fcmb.com\/2019\/05\/03\/making-money-work\/\">Making Your Money Work For You<\/a><br \/>\n<a href=\"https:\/\/flexxzone.fcmb.com\/2019\/05\/17\/impulse-buying-what-it-is-and-how-to-stop\/\">Impulse Buying: What It Is And How To Stop<\/a><\/p>\n<h3>Retirement Saving is For Older People<\/h3>\n<p><iframe class=\"giphy-embed\" src=\"https:\/\/giphy.com\/embed\/oOTTyHRHj0HYY\" width=\"480\" height=\"466\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><a href=\"https:\/\/giphy.com\/gifs\/oOTTyHRHj0HYY\" target=\"_blank\" rel=\"noopener\">via GIPHY<\/a><\/p>\n<p>The best time to start saving for retirement is the period of your youth. Most companies pay a monthly amount into your RSA (Retirement Savings Account) -which you can use and even link to other jobs as you move on in your career. Start saving towards your retirement so that future you would be proud.<\/p>\n<h3>Budgeting Is Pointless<\/h3>\n<p><iframe class=\"giphy-embed\" src=\"https:\/\/giphy.com\/embed\/Wvvly7op4K8Gb0jpQU\" width=\"480\" height=\"269\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><a href=\"https:\/\/giphy.com\/gifs\/vh1-love-hip-hop-lhhmia-Wvvly7op4K8Gb0jpQU\" target=\"_blank\" rel=\"noopener\">via GIPHY<\/a><\/p>\n<p>A lot of people think budgeting is pointless because it\u2019s \u2018impossible\u2019 to plan your spendings because expenses always come up. Some think budgeting is way too complicated while others think you need to have a substantial income to budget. The truth is, all these are false. Budgeting is one of the best financial habits you can adopt at a young age. It helps you stay disciplined while ensuring that you do not go overboard with your savings and end up broke. If you\u2019re concerned that expenses will always come up, you should allocate a part of your budget to certain unforeseen contingencies while ensuring that you have a stable savings account and an emergency fund.<\/p>\n<h3>Saving Means Deprivation<\/h3>\n<p><iframe class=\"giphy-embed\" src=\"https:\/\/giphy.com\/embed\/3ohzdJeMka5heqSbZu\" width=\"480\" height=\"480\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><a href=\"https:\/\/giphy.com\/gifs\/news-trump-politics-3ohzdJeMka5heqSbZu\" target=\"_blank\" rel=\"noopener\">via GIPHY<\/a><\/p>\n<p>Saving your money isn\u2019t supposed to be a form of self-inflicted deprivation or punishment. Savings culture means cutting off unnecessary expenses that could deter you from reaching your goals by putting aside amounts of money for your future self. You don\u2019t have to lower your standard of living or deprive yourself of essential things. If you do this, you\u2019ll be unmotivated quickly.<\/p>\n<p style=\"text-align: center;\"><strong><em>Which of these myths is the most common? Tell us!<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There\u2019s so much information about money out there- advice, tips, tricks and more. As a result, most people end up consuming information without being able to filter out myths and misconceptions. Truth be told, it\u2019s hard to separate facts from myths sometimes, especially when it comes to something as popular and controversial as money. So, [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":13764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,72],"tags":[253,254],"jetpack_featured_media_url":"https:\/\/flexxzone.fcmb.com\/wp-content\/uploads\/2019\/12\/Money-Notes.jpg","_links":{"self":[{"href":"https:\/\/flexxzone.fcmb.com\/wp-json\/wp\/v2\/posts\/13747"}],"collection":[{"href":"https:\/\/flexxzone.fcmb.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flexxzone.fcmb.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flexxzone.fcmb.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/flexxzone.fcmb.com\/wp-json\/wp\/v2\/comments?post=13747"}],"version-history":[{"count":4,"href":"https:\/\/flexxzone.fcmb.com\/wp-json\/wp\/v2\/posts\/13747\/revisions"}],"predecessor-version":[{"id":13908,"href":"https:\/\/flexxzone.fcmb.com\/wp-json\/wp\/v2\/posts\/13747\/revisions\/13908"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flexxzone.fcmb.com\/wp-json\/wp\/v2\/media\/13764"}],"wp:attachment":[{"href":"https:\/\/flexxzone.fcmb.com\/wp-json\/wp\/v2\/media?parent=13747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flexxzone.fcmb.com\/wp-json\/wp\/v2\/categories?post=13747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flexxzone.fcmb.com\/wp-json\/wp\/v2\/tags?post=13747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}