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. Episode 2907: Regularly 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’t help your score, this guide empowers you with the facts you need to protect your credit and improve your financial well-being. Read along with the original article(s) here: https://www.thebudgetmom.com/6-credit-myths-that-can-cost-you-money/ Quotes to ponder: "It’s 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." "Some believe this myth because they think that having a balance demonstrates responsible credit use. However, proving you are responsible with credit doesn’t mean you have to carry a balance." "If you track your spending and manage credit cards the right way, there’s nothing inherently wrong or dangerous about those little pieces of plastic." Episode references: Federal Trade Commission - Identity Theft: https://www.consumer.ftc.gov/features/identity-theft AnnualCreditReport.com: https://www.annualcreditreport.com Learn more about your ad choices. Visit megaphone.fm/adchoices

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Optimal Finance Daily, hosted by Diania Merriam, the innovative mind behind the personal finance conference EconoMe, takes you on an enlightening journey through the world of personal finance. Each episode brings to life the most compelling and practical advice from leading financial bloggers and experts. Diania’s engaging narration and insightful commentary transform complex financial concepts into relatable, actionable insights. Whether it’s budgeting, investing, debt management, or money mindfulness, she covers it all, making financial wisdom accessible to everyone. Gain not just knowledge, but also the motivation to apply it in your daily life. It's not just a source of personal finance tips; it’s a daily companion that guides you towards financial independence and savvy money management, all delivered with Diania's trademark enthusiasm and expertise. By focusing on early retirement, financial independence, and saving money, each episode provides you with the tools needed to achieve your financial goals. This podcast is designed for those passionate about personal finance, early retirement, financial independence, and saving money. It’s your go-to source for practical advice on managing your finances, saving money, and working towards early retirement. Each episode offers actionable steps to foster financial independence and secure your financial future. Listen now, and become an OLD friend--your optimal life awaits...