几个世纪以来，神话一直是文化的一部分. While commonly associated with stories like Bigfoot and Dracula, some myths can actually pose a credible threat to your wallet.

Myths, 定义为“广泛持有”, 而是错误的信念或想法,” have plagued the financial services industry for many years. There is an abundance of ways that consumers are targeted with false information on a daily basis. 来源包括新闻和媒体, unreputable企业, and payday lenders have continually misled the public and profited from it. 随着我们不断获得越来越多的信息, it’s critical that we debunk some of history’s biggest financial myths:

1) MYTH: I shouldn't check my credit score because it will decrease.

It’s not true that simply checking your credit score will harm it, because soft inquiries such as viewing your own credit report will not affect your FICO score whatsoever. However, hard inquiries such as actively applying for a new credit card or mortgage will have a small impact on your score. 密切关注你的分数是很重要的, so review it monthly within Elements online and mobile banking.

2) MYTH: Carrying a small credit card balance increases your credit score.

To increase your credit score, there is no need to carry a balance month to month on a credit card. One driving factor of your credit score is payment activity, so using your card and paying it off each month will continually increase your score. Consider scheduling a one-on-one credit review with a professional from Elements who can fully explain the five factors that impact your credit score.

误解3:应该避免使用信用卡.

Credit cards can be useful if they are used responsibly. They tend to be a useful financial tool, especially if you are looking to establish credit. 另外, credit cards can help your score increase over time if managed properly and if you keep your balance paid off or low, 创造所谓的“能力”. 它们可以成为以下方面的有用工具:

• REWARDS当你花钱的时候，你就能赚到钱.
• TRAVEL: Save money on international transactions and earn points on hotels and flights.
• 保护: 避免欺诈和争议不准确的交易.

谣言4:信用卡可以成为我的应急资金.

It is easier to build an emergency savings than to pay off credit card debt. Using a credit card for emergencies creates a poor behavior pattern that you may ten to repeat over time. 通过这样做, you put yourself at risk of accumulating debt that you can't pay off and often end up paying large amounts of interest. Growing credit card debt makes it harder to build your emergency savings account.

误解5:我挣的钱不够存.

Regardless of your income, there is always a way to save. It’s important to start by defining your wants and needs so you can make changes to your budget. Oftentimes, the biggest change is learning to say no. Initially, a good goal is to save $1,000 for an emergency fund. An easy way to begin is to start saving just $25 a week and commit to making this a typical behavior, 也不例外.

误解6:所有债务都是坏账.

Debt can be a tool to establish and build your credit score. It also allows you to purchase larger items without depleting your savings account. 有用的债务有很多种, 包括抵押贷款, 房屋净值贷款, 汽车贷款, 甚至还有可控的信用卡余额. The problems arise when you rely on credit to live beyond your means. Whether this means carrying excessive credit card balances or making large purchases that do not fit your budget, 这些决定会破坏你的财务健康.

误解7:我没有足够的钱投资.

Investing your money can lead to much higher returns, but also comes with higher risks. It's important to have a liquid savings account before investing. 最低投资额通常为250美元起, so consider finding a small starting point and adding more money as your budget allows. One great way to invest is by taking full advantage of your company's 401(k) match program.

8) MYTH: It's too early/late to begin saving for retirement.

No one ever said, “I wish I would have saved less money.” The earlier you start putting money away for retirement, the more you will save thanks to compounding interest. It’s critical to aim for saving at least 10% of your pretax income.

While these eight money myths are only a few of the most common, and there are hundreds more prevalent in today’s society. To avoid falling for these misconceptions, use Elements as a trusted resource for financial advice. Our credit union is centered around people, not profits. Our Financial Experts are always willing to discuss helpful money topics with our members and provide relevant advice and education. 另外, explore our Online Financial Education Center for modules on numerous topics. 通过成为一个受过更多教育的消费者, you will be more prepared when you’re faced with financial myths.

Learn more about money myths from a previously live broadcast of Elements Live. 点击这里观看研讨会.

This information is provided for informational purposes only. It does not constitute legal, tax or financial advice. Consult with your tax, legal or financial adviser before taking any action.