Most of the time, the financial advice that I hear is pretty good. Things like buy used cars, invest for retirement, and pay down debt are all solid pieces of advice that will help us to become more financially secure. However, I have also heard some pretty bad financial advice. I asked some of my friends online about the worst financial advice they had heard. Just like me, they have heard a lot of bad advice. Here is some of the worst advice that they have heard.
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Early Retirement: You WILL Need More Money Than You Planned
As many of you know, the FIRE movement stands for ¨Financial Independence, Retire Early.¨ And, for many people, the ¨Retire Early¨ portion of FIRE is the most intriguing. After all, wouldn't it be great to spend your time learning new things, pursuing hobbies, and hanging out with friends and family without having to worry about that 9-5 job? Even if you absolutely love your job, you are probably slightly intrigued by the concept of retiring early.
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You Don’t Deserve This
You work hard. I know that. I work hard too. You and I both deserve happiness, peace, freedom, and safety. But guess what? We don't deserve a new car ... We don't deserve a brand new wardrobe ... We don't deserve a huge house with a swimming pool ...
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Building Safety Into Our Monthly Expenses
One of the scariest things financially is relying completely on the next paycheck to pay for food, shelter, and utilities. However, 4 out of 5 Americans live paycheck to paycheck. This was highlighted by the government shutdown in the United States at the start of this year. Since many people were living without a safety margin, they were forced to immediately go into debt for basic needs. Of course, this isn't ideal and it's not a situation that anyone plans on. To get out of this paycheck to paycheck cycle, it helps to build a little bit of a safety margin into our monthly expenses. For instance, if we make…
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3 Simple Ways for Couples to Budget
I strongly believe that we should design our life and things we want to do in it before thinking about how much or how little money we are spending. We definitely should not let money rule our lives. Instead, we should find out what makes us happy and do that, regardless of the cost! However ...
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How You Can Make TAX FREE MONEY Without Being Shady: Part 2
Spending less money can potentially save you many thousands of dollars in state and federal income taxes. All that you have to do is follow one simple hack!
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The 10% Solution
When many people are looking to make a change in their lives, they often make a huge change. Some people go from a completely sedentary life to working out for one hour each day. Others may vow to cut their spending budget in half as they try to get out of debt. Still other people may quit their jobs as they try to gain control of their crazy schedule. We often go all in when we try to make a change in our lives. And honestly, this can be a good thing! Sometimes the best way to make a change is to make a big change. However, we don’t always…
