Neighborhood Money

Money Myths Debunked

May 09, 2022 Cavan & Andrew Season 1 Episode 41
Neighborhood Money
Money Myths Debunked
Show Notes

Drew and Cavan take on the task of debunking these common money myths: CPI represents the true inflation, budgeting means no fun, all debt is BAD, don’t take extra money to avoid a higher tax bracket, and I’m young so I have plenty of time to save for retirement. Oh…plus we have a bonus myth you’ll want to stick around to listen to!


Welcome neighbors!


Our Reading Recommendations:


Cavan: The Little Book of Common Sense Investing

https://amzn.to/3w0rQkP


Drew: Rich Dad Poor Dad

https://amzn.to/3MKCa7b


Don't want to watch the full episode, skip around to what interests you!


***** Episode breakdown *****


0:00 - Intro

1:02 - A special Neighborhood Money announcement!

5:17 - Using CPI

10:33 - A budget means having no fun

14:52 - There is NO good debt

18:42 - Avoid pay that increases your tax bracket

23:15 - I’m young, I have plenty of time to save for retirement

27:57 - A bonus myth DEBUNKED!

33:41 - Key Takeaways

36:02 - What’s Going On In The Neighborhood

42:12 - Outro


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The Neighborhood Money Podcast is two friends talking about money on a weekly basis, nothing more. Anything said during the podcast is either Drew or Cavan's opinion and should not be taken as financial advice. This show is for educational and entertainment purposes only.