Last summer, I published the post The Worst Money Advice I’ve Ever Heard. In that post I talked about some crazy bad advice I’ve heard. Since then, I have heard even more bits of bad financial advice that I knew I had to share.
As a personal finance blogger, I get asked many personal finance questions.
Before I respond, I usually ask the person what they believe they should do.
One of the first things I usually hear is advice that they were given by another person. Sometimes the advice is great, but other times I can’t help but cringe and then I have to try my best not to let my jaw hit the ground.
I really wish I made up the bad advice below, but sadly they are all true. Some I overheard, some I heard from others asking me if the advice was something they should follow, and some I actually heard from financial “experts” giving to a large audience on TV (AHHH!).
- Bad Money Mistakes Couples Should Avoid – They May Be Making You Poor and Stressed Out
- Why I’ll Never Buy A Timeshare
- How To Live On One Income
Below are four bad pieces of financial advice I have heard recently.