2907: 6 Credit Myths That Can Cost You Money by Kumiko of The Budget Mom on Financial Well-Being
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.\nEpisode 2907:\nRegularly checking your credit report and understanding how credit works can save you from costly mistakes. In this article, Kumiko breaks down six common credit myths that could lead to poor financial decisions. From clarifying how credit inquiries work to explaining why keeping a balance on your credit card won\u2019t help your score, this guide empowers you with the facts you need to protect your credit and improve your financial well-being.\nRead along with the original article(s) here: https://www.thebudgetmom.com/6-credit-myths-that-can-cost-you-money/\nQuotes to ponder:\n"It\u2019s essential to pay off your credit card balances each month, not just to save money on interest, but also to keep your balance-to-limit ratio low."\n"Some believe this myth because they think that having a balance demonstrates responsible credit use. However, proving you are responsible with credit doesn\u2019t mean you have to carry a balance."\n"If you track your spending and manage credit cards the right way, there\u2019s nothing inherently wrong or dangerous about those little pieces of plastic."\nEpisode references:\nFederal Trade Commission - Identity Theft: https://www.consumer.ftc.gov/features/identity-theft\nAnnualCreditReport.com: https://www.annualcreditreport.com\nLearn more about your ad choices. Visit megaphone.fm/adchoices