15 Worst Ever Pieces of Financial Advice

Every bit of financial advice you hear should be taken with a grain of salt. What works well for others may not work for you (and it may not work well at all).

There’s a LOT of advice about money out there. While some of it is okay, a lot of it (read: most of it) is just plain bad. Here are the worst pieces of financial advice I have ever heard.

Never use a credit card.

Using a credit card responsibly is one of the best ways to maximize your dollar. Why? – Points – Build credit – Fraud protection – Acquire airline miles – Warranties on purchases

Renting is throwing your money away.

Though owning your own home provides a wide range of financial benefits, renting gives you options that homeownership doesn’t, and it’s the right financial move for many people.

You gotta hustle 24/7.

This awful advice traps people into a life of burnout. Your rest and relaxation time is required to hustle. It’s healthy. Without rest, there’s no hustle.

There is no such thing as good debt.

Untrue. Smart debts pay off. – Student loans – Business loans – Home equity loans – Mortgages (sometimes) “All debt is bad” is elementary school thinking. It’s just untrue.

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