The 3 Worst Money Tips You’re Still Following

Bad Money Advice People Still Follow (And Shouldn’t)

Hey there,

Let’s talk about the personal finance advice that refuses to die.

You’ve probably heard this stuff from your uncle, your high school econ teacher, or some influencer on TikTok who swears they “retired at 25.” But here’s the deal: a lot of that advice is garbage. Outdated. Useless. Or straight-up hurting your wallet.

Let’s burn it down and build something better.

🚫 Bad Advice #1: “Cut out the lattes.”

Ah yes, the latte-shaming era. The idea is that your $5 coffee habit is the reason you’re broke. Spoiler: it’s not.

The problem isn’t your caffeine fix—it’s that wages haven’t kept up with inflation, housing costs are insane, and most people were never taught how to invest.

✅ Smarter Move: Focus on the big wins. Negotiate your salary. Automate your investments. Ditch high-interest debt. A $5 coffee doesn’t matter if you’re making $5K more a year.

🚫 Bad Advice #2: “Buy a house ASAP. Rent is throwing money away.”

This one’s practically engraved on a stone tablet somewhere. But buying a home isn’t always the golden ticket people think it is.

Between sky-high interest rates, property taxes, maintenance, and the joy of replacing a roof for $20K, homeownership can be a money pit.

✅ Smarter Move: Do the math. Renting can actually save you money (and stress) in the right market. Use that flexibility to invest elsewhere, build a business, or just, ya know… live your life.

🚫 Bad Advice #3: “Credit cards are evil.”

Nope. Misusing them is evil. But the right card, used wisely, is like a cheat code.

✅ Smarter Move: Pay your balance in full. Earn those points. Boost your credit score. Don’t fear the tool—learn how to use it like a pro.

The bottom line? A lot of old-school advice sounds good because it’s simple. But that doesn’t make it right. Personal finance today is a different game—and it rewards people who think critically, not just follow the herd.

So here’s your challenge:

Swap out one piece of bad advice for a better one this week.
Maybe you stop beating yourself up over your daily coffee and start looking for a side hustle that actually moves the needle.

Small mindset shifts = big money wins.

—Tommy,

Banking On You