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20 money tips that don't add up

Sayings you shouldn't believe
‘Neither a borrower nor a lender be’
‘Never spend money before you have it’
‘Cash is king’
‘Pay beforehand was never well served’
‘You should never get into debt’
‘It’s always better to use cash’
‘He who pays the piper calls the tune’
‘You don’t need an emergency fund when you have credit’
‘Property is the best investment you can make’
‘I am too young for a pension’
‘Blue chip shares are as safe as houses’
High risk means high return
‘Buying in bulk is a waste of money’
‘DIY saves money’
‘If I die without a will, my spouse will inherit everything’
‘You can be too old to start saving’
‘Every time you borrow money, you’re robbing your future self’
‘Stop giving away your time and talents. Value what you know and start charging for it’
‘Money can’t buy you happiness’
‘Money is the root of all evil’
2 of 21
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‘Neither a borrower nor a lender be’

When he wrote these words for Polonius in Hamlet, William Shakespeare probably didn’t expect them to be regurgitated centuries later. Originally, the quote was taken to mean that one should never borrow money because it leads to the destruction of a friendship. But there weren’t any banks around in the 16th century. Now, it makes sense to borrow money for big purchases – like a house – and pay it back. Or having a 0% credit card to cover surprise bills (just make sure you pay it off ASAP).
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lovemoney staff

15 November 2016

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