Myth #1: Financial planning is only for the rich Misconception The general perception of having financial planning is that it is for the wealthy. The middle class and the poor do not have the surplus or the allocation in their financial state to think about financial planning and savings due to their circumstances. A person who is living from paycheck to paycheck would have to think about stretching what little income they have into paying bills and surviving from month to month. The thought about financial planning would not be their priority. Most low-income earners are mindful of the fact[…]

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