Between running this personal finance blog, and the fact that I’ve always been fairly open about money, people love talking about money with me. So, over the years, I have heard countless pieces of bad financial advice.
Plus, people just love giving others advice. Yes, I’ve heard great financial advice, but some of it has really been awful financial advice, that I knew was bad even as a kid.
Some of the financial advice I’ve heard has had me shaking my head in disbelief, and others have left me wondering how that person has made it so far in life.
Money is a funny subject like that, though. And, until we start talking about it more openly and spend as much time learning about finances as some of us do reading the latest gossip, watching sports, or something else, then we still have a long way to go.
It’s been almost four years since I first published The Worst Money Advice I’ve Ever Heard. Today, I want to continue on that – talk about some that I mentioned four years ago (some of those still make my jaw drop on the ground and make want me to bang my head on the wall) as well as bring up some more that I haven’t discussed.
Below is the most awful financial advice I’ve ever heard:
This is always the first one I tell because of how bad the financial advice is. Seriously, it’s the worst I have probably ever heard in my whole life. Sadly, I’ve heard it more than once, and I actually know of a few different people…