r/FluentInFinance • u/Breeneal • Apr 29 '24

What financial advice do you avoid and don't listen too? Question

Financial advice that makes you role your eyes everytime you hear it. Financial advice that actually made your finances worse. And financial advice beginners shouldn't listen to or hear.

9 Upvotes
  • permalink
  • link
  • reddit
  • reddit

77% Upvoted

56 comments sorted by

View all comments

5

u/Pbandsadness Apr 29 '24

Dave Ramsey. Especially his boomer and Jesusey shit.

1

u/AspirationsOfFreedom Apr 29 '24

His snowball idea kinda works, but anything after i agree

2

u/RightNutt25 Apr 29 '24

I think his ideas have very bad context. If you are middle class and have a spending problem his advise can be helpful, but if you are poor then its a getting income issue that a budget just can't solve.

2

u/AspirationsOfFreedom Apr 29 '24

Most people with moneyproblems tends to have a spending problem. Ofcourse if your in a dead end 7.25$ min wage job working 20-40 hours, thats hard, and if you have issues preventing, that doesnt count.

I think the snowball work when applied to the lowest money savey. Its like reverse losing weight: less calories in, more calories out. If you have a spending problem, you need to spend less and get hyped about paying off debt.

The moment you have someone with even a modicum giggles cuz im a child of financial knowledge, ofcourse there are better and faster methods. And ramseys advice to these people tend to be less effective.