The Problem With “Free” In Finance and Why It Can Come At A Steep Cost
Almost nothing feels better than getting something for free, but in finance, the word “free” almost always requires air quotes. What’s the catch behind these “free” offers, and how could taking them end up costing you more (money and pride)? Breaking Down The “Free” Myth We live in a capitalist society… nothing is free. So, if something is marketed as “free” in the finance world, there’s likely a secret web of fine print you’ll find yourself stuck in sooner or later. But it’s a word that garners attention, inadvertently causing people to fall into its trap. Take tax filing as an example. Turbo Tax highlights their “free” tax filing services and actually uses the word free over 40 times in their classic 30-second advertisements. Free is also tossed around in the written word, showing up about 19 times on their landing pages. But if you’ve tried to file taxes this…