Between running this personal finance blog and being open about money, people often feel comfortable talking to me about finances. Over the years, I’ve heard countless pieces of bad financial advice.
People love to give advice, and while I’ve heard some helpful tips, I’ve also heard some truly terrible guidance—advice that sounded wrong even when I was a kid.
Some of these suggestions made me shake my head in disbelief; others left me wondering how the person offering them managed their own finances at all.
Money is a sensitive subject. Until we make it as normal to learn about finances as it is to follow the latest gossip or sports, many people will continue to repeat poor guidance.
It’s been nearly four years since I first published “The Worst Money Advice I’ve Ever Heard.” Today I want to revisit some of those old examples (a few still make my jaw drop) and share new ones I haven’t discussed before.