Financial literacy expert, Anthony Manganiello, founder of DebtFreeAcademy.com and author of The Debt-Free Millionaire, blows the cover off the five money myths that are keeping consumers broke and in debt.
Toronto, ON -- (SBWIRE) -- 10/07/2013 -- Did you know that consumer debt in America totals nearly $16 trillion? And CreditCard.com reports that the national average for credit card interest rates is a whopping 14.98 percent!
That’s because people have been lying to consumers, and it’s costing them a fortune and threatening their retirement.
But financial literacy expert, Anthony Manganiello, founder of DebtFreeAcademy.com and author of The Debt-Free Millionaire, blows the cover off the five money myths that are keeping consumers broke and in debt.
That’s because for decades, so-called “financial experts”—even our own well-meaning parents and mentors—have been perpetuating myths like:
1) A mortgage could be the biggest investment you’ll ever make. (Wrong! Good debt has been shoved down our throats as a “must have.” Anthony explains how so-called “good debt” is causing consumers to lose 10, 20, 30, even 40 percent or more every year. There’s no such thing as “good debt”!)
2) In order to secure a solid financial future, you should “Pay yourself first.” (No! This financial strategy is rooted in a story written almost 100 years ago. But a few things have changed in the last century. What worked then just doesn’t work now.).
3) You need to use a budget to get ahead financially. (Please don’t! Budgeting can create a false sense of financial security. And while budgeters think they’re doing well, their financial future is slowly being stolen from them—one paycheck at a time.)
4) If you want the best for your kids, you’d better start saving for their college education right away. (False! Of course, parents want what’s best for their children. But socking away the dough NOW for their college education is not a good idea.)
5) Making more money can help you achieve your financial goals. (Sounds good, but it’s another myth! Landing a better-paying job or earning more income is always tempting. The truth is, extra income could push you from the financial frying pan into the fire. Ouch!)
These five financial myths that have been handed down in “gospel-like” fashion are—and will continue to—cost Americans a fortune. But these common money philosophies only teach one side of a very two-sided coin. And it’s the other side of the coin that’s costing consumers thousands of dollars each month.
But with the all-new DebtFree Academy, learning the truth about these five financial myths is…free!
At the DebtFree Academy, you will learn the truth about those five financial myths. And once you’ve been “dehypnotized” you can learn…
What debt and credit really are
How to discover your true financial position
How to become completely debt free (even if you can’t pay your bills right now!)
How to retire rich
How to create a “Wealth Accumulation” mentality
And so much more. Learn how at http://www.DebtFreeAcademy.com.
About Anthony Manganiello
Anthony Manganiello is an author, speaker, and entrepreneur who has spent the last two decades in the research and development—including the investment of millions of dollars, and tens of thousands of interviews with every day people looking for help with their debt and credit problems. The end result was the creation of the Cash-Flow Analysis™, the Cash-Flow Dashboard™ the book, The Debt-FREE Millionaire: Winning Strategies to Creating Great Credit and Retiring Rich, and http://www.DebtFreeAcademy.com.
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