Dont believe these 4 money saving myths

Dont believe ansicht 4 money saving mythsWhen we think of money and our grand financial plansboth short-term and long-termwe tend to cling to those old, time-tested maxims about saving money that weve heard over and over again, starting from when we were young and filling up our first piggy banks. We assume that most of these maxims are trueafter all, theyve withstood the test of time and if we hear something enough times from enough people we tend to accept them at face value. googletag.cmd.push(function() googletag.display(div-gpt-ad-1467144145037-0) ) Buthave you ever stopped and thought about whether or not these money-saving notions are actually true, or still hold up in todays economy? Lets take a closer look at some common money saving myths, and see if they still hold up.1. Debt is bad.Who hasnt been told early on by someone in a trusted position that debt is bad and that we should always strive to live a life of total economic freedom, unshackled by the evil forces of debt, which only serves to cripple us financially. If this was something you simply accepted as truethink again.Responsible debt, which means borrowing money or utilizing credit within a sortiment that makes realistic financial sense for you and your economic situation, is actually an effective way to establish a good credit history, and lets you build sound long-term financial habits and behaviors. Getting comfortable assuming debt, which can help you build your abilities with handling maintaining regular repayment schedules and understanding interest rates and other key financial terms, can really help set you up for responsibly handling future loans, purchases, and investments.2. Buying cheaper is smarter.Lots of us are guilty of this onewhen considering a purchase we research a wide range of options at various prices and convince ourselves that the cheapest option is the most financially responsible choice. After all, were saving money, arent we? Wellmaybe not.The truth is, its only sometimes true that purchasing the cheapest option is the smart approach. Why? Because its often true that cheaper isnt better and youll wind up spending mora money in the long run on replacements for the cheaper item when it breaks vs. buying the more expensive, higher quality item that lasts first.3. Owning is better than renting.This notion is about as old as the first mortgage and as pervasive as it getsbut is it true? Like many things in life, this isnt so black and white, and the actual answer ismaybe.The truth is, it depends on your situation. While its often true that using your money towards paying a mortgage and owning property is a smart move when compared to paying rent to help someone else who owns the property, you have to keep in mind that owning property comes with many additional expenses, including property tax, land tax, and maintenance and upkeep fees, which renters often dont have to worry about. So, depending on your financial situation and resources, buying a house may also be buying you a set of financial concerns that you may not be ready to take on.Furthermore, the terms of a mortgage can vary wildly, and as weve seen during the recent mortgage crisis and housing bubble, depending on your mortgage things can get financially risky fast. The bottom line its in your best interest to take a full, in-depth financial inventory before determining if buying or renting make sense for you right now.4. You dont have to save money until Im older.Many younger people sachverhalt prey to this notion, that they have plenty of time in the future to start worrying about saving money and being financially responsible. After all, isnt it the privilege of youth to be carefree and irresponsible, and worry about the important stuff like money when theyre older?It might not surprise you that this is an extremely shortsighted and foolhardy approach to money saving. The truth is, its never too soon to start saving money and developing sound financial habits. F urthermore, once you get into the mindset that you can put something off until later, it only gets easier to keep operating under this principle, and later can quickly become too late.The truth revealedOkay, so now you know the truthsome of those old money-saving myths weve all been told may or may not hold up for you, depending on your current financial situation and short- and long-term financial goals. That said, make sure to always take stock of your current financial situation and outlook when making any serious financial decision, and if you can consult with a financial expert, even better. Good luck

Overqualified Resume

Overqualified Resume Is it smart to dumb down your resume?When is it wise to downplay your experience? If youre an experienced worker, you might be considering dumbing down your resume to land an interview for a position for which you might seem overqualified.This strategy could include downplaying or omitting work experience, resume skills, degrees and other credentials. But is reworking your resume in this manner a wise thing to do? Employment experts weigh in with their advice.Special circumstances can warrant itTracy Parish, a certified professional resume writer and president of resume-writing firm TrendSettingResumes in Kewanee, Illinois, has encountered situations when dumbing down the resume can work. Obviously, a person needs to keep bread on the table, so accepting a lower position is becoming more common, and the resume needs to be appropriately tailored, she says.While you dont have to include everything youve ever done on your resume, dont cross the line in to dishonesty. Never lie, Parish says. It will come back to haunt you.If you decide to omit some of your credentials on your resume, you still must provide a thorough account on a job application. A resume is a strategic marketing piece, whereas a job application is a signed, legal document that requires full disclosure.What are the risks?Job seekers should think carefully before dumbing down their resumes, says Robert Hosking, senior vice president and managing director of search practices at Lee esox Harrison Knightsbridge, a global staffing agency. Employers can easily learn about job seekers work histories, education and credentials online or through references, so they should be truthful.We do not recommend that job seekers hide relevant information, says Carrie Stone, a former Disney executive and current president of cStone Associates, an executive search and leadership consulting firm in San Diego. If job seekers misrepresent credentials, they are seen as dishonest and empl oyers will question their integrity.William Finlay, PhD, professor of sociology at the University of Georgia and coauthor of Headhunters Matchmaking in the Labor Market, also agrees that job seekers shouldnt dumb down their resumes. Misrepresentation, if it is discovered, is a deal breaker because it calls the candidates honesty into question, he says.Overqualified workers may have an edgeFinlays research suggests some good news for job seekers who are willing to accept lower-level positions but are concerned about being perceived as overqualified. We may be entering an era in which being overqualified is no longer a liability, he says. A generation ago, a college degree became a requirement for jobs that previously required only a high school diploma. Now, we are seeing evidence of people with JDs and MBAs being hired for jobs that previously would have gone to people with undergraduate degrees.Stone has seen this trend in her recruiting career as well. Previously, employers may ha ve been concerned about hiring overqualified individuals, fearing that when the economy rebounds these employees may leave for other opportunities, she says. Since we are not seeing a robust rebound in the market, savvy employers are hiring these overqualified employees while achieving value pricing.Smarter strategiesParish, who agrees that dumbing down the resume is generally not a good idea, says job seekers should shoot for the stars. If experienced workers are armed with an extraordinary resume and launch an aggressive job search, they could find their ideal jobs and wont have to settle, she says.Here are three strategies for experienced job seekers who dont want to dumb down their resumes1. Customize A resume needs to be custom-designed, highly targeted and well above average to gain interest, Parish says. Include aqualifications summary that provides an overview of your value.Summarize Its perfectly fine to omit details that arent relevant to the position you are applying for, Hosking says. For example, you dont need to include a job you held in high school 40 years ago or expound on a job in another field that isnt relevant to the position youre seeking.Parish recommends detailing only the past 10 to 15 years of your employment history, and relegating older employment to an Additional Experienceor Early Careersection at the bottom. Unrelated degrees or specialized training can be downplayed or eliminated as long as they are appropriately listed on an application form, she says.Overcome objections Stone says job seekers should anticipate objections employers might have, and use the cover letter to address how age and experience can be a tremendous asset to the organization. Seek to understand employers concerns and then sell around those concerns with brevity, clarity and confidence, she says.Double-check your resumeYou want your resume to highlight the relevant skills and experience that are required for the job, but you dont want to risk coming across as a long shot. Instead of playing down your talents, could you use some help getting the important details right?Get a free resume evaluation today from the experts atMonsters Resume Writing Service. Youll get detailed feedback in two business days, including a review ofyour resumes appearance and content, and a prediction of a recruiters first impression.Its the smart thing to do.