At some point, we've all been given financial advice that left us scratching our heads in confusion.
But what about the tips that seem practical? Should we embrace them or remain skeptical?
Unfortunately, it's tough to weed out all the bad information that can be found in books or on the Internet, especially because so many self-proclaimed financial experts abound.
Luckily, there's help to figure this out. For instance, CreditCards.com says bad financial advice is usually at least one of the following:
- Comes from someone with a vested interest
- One size fits all
- Framed as the only option
- Promises quick and easy results
You can further put your mind at ease by evaluating the source of the advice, confirming the source's credentials and asking questions if you need clarification.
But, in the meantime, here are a few common tidbits of financial advice you may want to ignore.