Tag Archives: Fallacy
Account Transfer Fallacy
If you would be wealthy, think of saving as well as getting.
– Benjamin Franklin
The symptom: Account transfers appear to be savings.
The example: Last year you saved €500 every month by transferring the money from your checking account to your savings account. This year, however, that approach just does not seem to be working. There never seems to be enough money in the checking account to transfer. You are puzzled because both your income and your expenses appear to be about the same as last year.
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