Top 10 Financial Urban Legends

Posted on 03. Nov, 2005 by Jason Guthrie in Credit & Debt, Income & Expenses, Saving & Investing, Taxes

I found an interesting article today which linked to snopes.com – a popular urban myth debunker – concerning the 10 top financial urban legends. They are:

1. You can float a check longer if you write in red ink.
2. You don’t have to pay income tax — it’s illegal.
3. I’m under 18, so I can’t be held accountable for a debt.
4. My hotel key card has my credit-card information.
5. Boycotting a few gasoline brands brings gas prices down.
6. It’s better if you don’t sign the back of your credit card.
7. You can make a pile of dough by helping a foreigner solve his money problems.
8. You can now opt out of having credit bureaus give your information to anyone who asks.
9. You can buy your way out of points on a speeding ticket.
10. Hotel Bibles often have $100 bills tucked into them.

If you happen to think that any of the above myths are true – think again. Take a few minutes and read the entire article, along with explanations, here.

urban legend, personal finance, money