Yeah, we love busting myths around here getting you the facts and there are so many things flying around about money, money myths. So I'm taking some of them and giving you the inside scoop, busting money myths once and for all Myth number one, you need to carry *** balance on your credit card to increase your credit score. No, no, no. In fact, the Consumer Financial Protection Bureau says you need to pay your bills on time every month in full. Why? Because your FICO score you know your credit score, the FICO score 35% of it is based on whether you pay your bills on time or not. So pay your bill in full on time. Now, the other thing, 30% of your Fico score goes to this. How much of your credit limit are you using each month? So let's say you have *** $10,000 credit limit. How much of that are you using? the number you want to stick to is 30% or less. So let's say you have $10,000 of credit limit between your credit cards every month. You want to be spending $3000 on that or less. Myth number two, buying *** house is better than renting. That's only partially true. Look, *** house is an amazing long term investment Only if you can afford it. So how do you figure out what you can afford and how do the banks figure out what you can afford something called the debt to income ratio. It's everything. So here's what you do. You take your gross monthly salary. So let's say you make you're in *** combined household $80,000 *** year. OK. *** year. That is $6,666 per month in gross, not net gross money that you make. Put that off to the side. Then we got to figure out what you owe every month. So we got to factor in whatever house you want to buy. Let's say you want to buy *** $300,000 house. It's the mortgage, the taxes and the Let's say that comes out to *** payment of $2,000 *** month. Then you have student loan debt $500 *** month. Then you have credit card debt $500 *** month. Then let's say you have *** car, it costs you $300 *** month. So you owe $3,300 *** month every month in debt. OK? Then you take that number and you divide it by the monthly gross number that you make at $6,666 and you're at 49.5% debt to income ratio. the banks want you to be at 43% or below. So *** *** $300,000 house at $80,000 *** year. The math doesn't quite work in that case. Myth number three, there's no such thing as too much money in my savings account. You want enough money sitting *** savings account off to the side for emergencies. 3-6 months of living expenses is exactly what you should have in *** savings account for the rest of the money. If you have any left over stockpiling cash and letting it just sit in *** savings account earning what 1% interest That's not doing much when inflation is what? 56% right now. Yeah, it's coming down but not yet. So any extra money you have take this and start investing this into higher yield investments, right? So you can actually have that money work for you. What? OK. Hope it helps. I'm going to throw those myths and I'll bust *** couple more on my website and bonus content. Rosson reports dot com. That's all for today. Back to you.