Posted on June 5, 2019 at 1:08 am

Biz Lifestyle Entertainment Featured Lifestyle

Debunking Myths That Could Save You Money

Although the majority of us use energy on a daily basis, from electricity to gas, and in all appliances from games consoles to heating our houses, there are still prevailing myths when it comes to energy. By debunking these myths, it is possible to both save money and ensure they you can become more energy economical.

Switching Supplier

Many people believe that companies enforce switching supplier as a way to gain customers and that it is not actually monetarily advantageous for the consumer. However, this is completely a myth, with incentivization to switch truly having the ability to save money for your business or your home. Click here to check whether you are getting the best deal on commercial electricity prices by using energy comparison websites such as Utility Bidder, which can help to advise you on whether to make a switch.

Debt

Many people consider all debt to be a negative monetary burden in every case. However, debt does not always have a negative impact. For instance, student debts are paid over an extensive period of time, with no repayment issues, and these can help people get better jobs and careers that benefit them financially. Not only this, but mortgages are incredibly common and allow you to invest in the housing market without the full amount- these often have fewer interest rates than a credit card, and can help you to be more financially stable over time by allowing you to keep some of your savings behind you.

 

 

Credit Score

Even if you are married to someone, your credit score does not always affect theirs. Differing from common knowledge, you still retain your credit score on an individual basis which is much more likely to impact your financial decisions that your partner’s. Your partner’s credit score will only affect yours if you are making a joint investment such as buying a house or investing in a loan together.

Online Deals

Online deals and shopping are not always the best way to save money as there are often hidden tricks that you do not realize, such as extortionate postage and package or add-ons. Not only this, but you are often less aware of the amount that you are spending when online shopping, which can leave you feeling the pinch.

Investment

There are many myths circulating about your investment opportunities, including the idea that by saving for your retirement fund without any financial advice from investors, that you will be helping to save yourself money. However, remaining objective about your own money can be difficult and even with expert knowledge, the investment markets are constantly changing so much that it can be difficult to make a wise decision. Then, you should always make sure that you seek a financial advisor before making investments.

Although there are many myths surrounding energy, energy sources and appliances, and electricity, these myths can easily be debunked through a combination of scientific evidence and research, all of which is currently continuing as you read this article. Then, this evidence can help you to make smarter choices when it comes to your energy supply.