It the world of personal finance, there is nothing more powerful than information.
If you have a financial decision to make — say a big purchase, an investment or an impending major repair — the best thing that you can do for yourself is to make sure you have the most accurate information possible. Making a decision out of ignorance can cost you a lot of money. Choosing based on solid information, on the other hand, can save you a lot.
It’s impossible to be an expert in every area of life, which means that we all have to rely on the expertise of others to help us solve problems from time to time. All too often, though, the people that we turn to for insight stand to gain financially from us taking their advice.
In order to protect yourself from this kind of conflict of interests, you need to make a habit of getting second opinions. [Read more...]