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