life

<p>Does anyone <em>really</em> know how money works?</p><p>It&#39;s hard to say, especially when you think about some of the truly shocking financial advice that people give and receive. A <a href="https://www.reddit.com/r/AskReddit/comments/kukx86/whats_the_worst_piece_of_financial_advice/">recent Reddit thread</a> asked people, &quot;What&#39;s the worst piece of financial advice somebody has given you?&quot;</p><h2>1. If only this were true.</h2><blockquote> <p>My aunt took me to a car dealership when I was looking to buy my own first car. I was looking at the clunkers I could afford, but she said I should be looking at the new cars. She said, &ldquo;the total price doesn&rsquo;t matter because you make monthly payments.&rdquo; I suddenly understood too well why she had always been so financially unstable. - rleash</p> </blockquote><h2>2. Yikes.</h2><blockquote> <p>So when I was 24, I was financially struggling. I had a job that worked me a LOT of hours, but only paid me $10 an hour.</p> <p>My parents talked me into buying a BRAND NEW 2004 4-Door Honda Civic, the pre-interest price tag on it was about $25,000. A few weeks after getting it, my hours got regulated and it took one entire paycheck to make the monthly note on it - I could NOT afford the insurance on it.</p> <p>I very quickly realized my parents were bad at money. - Worlds_Best_Coffee</p> </blockquote><div className="ad-splitter"></div><h2>3. Wow, that a TBT.</h2><blockquote> <p>&ldquo;Hold on to those French francs, they will be worth a lot some day.&rdquo;</p> <p>I&rsquo;m not holding my breath. - GeeWillickersDre</p> </blockquote><h2>4. How would this possibly be true?!</h2><blockquote> <p>&quot;Once you cut up the credit card,you don&#39;t have to pay it.&quot;</p> <p>My cousin is not doing so hot. I&#39;m pretty sure there are warrants out for his arrest in several states. - SalemScout</p> </blockquote><h2>5. This does sound fun at least.</h2><blockquote> <p>My father would tell me to max my credit card on a new car and if they asked for payments just say F*** em, what are they going to do?</p> <p>My father is several levels of debt hell deep that he&#39;s trying to get out of now, but he&#39;s at least trying. - LuluTopSionMind</p> </blockquote><h2>6. Wait, is this not smart???</h2><blockquote> <p>Spend whatever is in your bank account the day before payday, you obviously don&rsquo;t NEED it - plzeatslugsmalfoy</p> </blockquote><h2>7. Well if you don&#39;t have any emergencies...</h2><blockquote> <p>That an emergency fund wasn&#39;t necessary when you can always get a payday loan or use your credit card. He wasn&#39;t joking. - girlfromspd</p> </blockquote><div className="ad-splitter"></div><h2>8. Not making money is not the best money plan.</h2><blockquote> <p>&quot;don&#39;t make more money, you&#39;ll go up a tax bracket and end up paying more taxes so you&#39;ll end up making less overall.&quot;</p> <p>This isn&#39;t how taxes work people. If you go $1 into the next track bracket, only that $1 is taxed higher. You can&#39;t make less money by making more money. - ekimarcher</p> </blockquote><h2>9. Surely there are more options than this.</h2><blockquote> <p>&ldquo;Spend it quickly or it&rsquo;ll get stolen.&rdquo;</p> <p>Coming from someone with a history of losing and blowing their money. - ChilledGopher</p> </blockquote><h2>10. Don&#39;t try this at home.</h2><blockquote> <p>One of my uncles once told me that I never really had to pay my phone bill. He suggested that I simply jump to another carrier and let the first company cut you off.</p> <p>His life has turned out exactly as you&#39;d imagine. - kor_hookmaster</p> </blockquote><h2>11. How do people keep getting these credit cards?</h2><blockquote> <p>&quot;Just get another credit card&quot; - my friend who hasn&#39;t worked in 3 years and is currently just vibing with his new credit cards he somehow got approved for - Prannke</p> </blockquote><div className="ad-splitter"></div><h2>12. Were they wrong, though?</h2><blockquote> <p>&quot;Don&#39;t worry about a career, Armageddon will come before you finish high school.&quot; My parents, Jehovah Witnesses. - Havamar</p> </blockquote><h2>13. Oh yikes.</h2><blockquote> <p>When I got to university and opened a student current account, I received an interest free overdraft of about &pound;1200. I wasn&#39;t entirely sure of what that meant.</p> <p>My brother informed me &quot;So that&#39;s like your new zero&quot;, and encouraged me to use it to buy a new gaming PC. For the next few years I really really wish I hadn&#39;t taken that advice, he&#39;s never been too amazing with his money so I should have seen that one coming. - SeveralAioli3</p> </blockquote><div className="ad-splitter"></div>

13 people share the worst financial advice they've ever received.

Does anyone really know how money works?It&#39;s hard to say, especially when you think about some of the truly shocking financial advice that people give and receive. A recent Reddit thread asked people, &quot;What&#39;s the worst piece of financial advice somebody has given you?&quot;1. If only this were true. My aunt took me to a car dealership when I was looking to buy my own first car. I was looking at the clunkers I could afford, but she said I should be looking at the new cars. She said, &ldquo;the total price doesn&rsquo;t matter because you make monthly payments.&rdquo; I suddenly understood too well why she had always been so financially unstable. - rleash 2. Yikes. So when I was 24, I was financially struggling. I had a job that worked me a LOT of hours, but only paid me $10 an hour. My parents talked me into buying a BRAND NEW 2004 4-Door Honda Civic, the pre-interest price tag on it was about $25,000. A few weeks after getting it, my hours got regulated and it took one entire paycheck to make the monthly note on it - I could NOT afford the insurance on it. I very quickly realized my parents were bad at money. - Worlds_Best_Coffee 3. Wow, that a TBT. &ldquo;Hold on to those French francs, they will be worth a lot some day.&rdquo; I&rsquo;m not holding my breath. - GeeWillickersDre 4. How would this possibly be true?! &quot;Once you cut up the credit card,you don&#39;t have to pay it.&quot; My cousin is not doing so hot. I&#39;m pretty sure there are warrants out for his arrest in several states. - SalemScout 5. This does sound fun at least. My father would tell me to max my credit card on a new car and if they asked for payments just say F*** em, what are they going to do? My father is several levels of debt hell deep that he&#39;s trying to get out of now, but he&#39;s at least trying. - LuluTopSionMind 6. Wait, is this not smart??? Spend whatever is in your bank account the day before payday, you obviously don&rsquo;t NEED it - plzeatslugsmalfoy 7. Well if you don&#39;t have any emergencies... That an emergency fund wasn&#39;t necessary when you can always get a payday loan or use your credit card. He wasn&#39;t joking. - girlfromspd 8. Not making money is not the best money plan. &quot;don&#39;t make more money, you&#39;ll go up a tax bracket and end up paying more taxes so you&#39;ll end up making less overall.&quot; This isn&#39;t how taxes work people. If you go $1 into the next track bracket, only that $1 is taxed higher. You can&#39;t make less money by making more money. - ekimarcher 9. Surely there are more options than this. &ldquo;Spend it quickly or it&rsquo;ll get stolen.&rdquo; Coming from someone with a history of losing and blowing their money. - ChilledGopher 10. Don&#39;t try this at home. One of my uncles once told me that I never really had to pay my phone bill. He suggested that I simply jump to another carrier and let the first company cut you off. His life has turned out exactly as you&#39;d imagine. - kor_hookmaster 11. How do people keep getting these credit cards? &quot;Just get another credit card&quot; - my friend who hasn&#39;t worked in 3 years and is currently just vibing with his new credit cards he somehow got approved for - Prannke 12. Were they wrong, though? &quot;Don&#39;t worry about a career, Armageddon will come before you finish high school.&quot; My parents, Jehovah Witnesses. - Havamar 13. Oh yikes. When I got to university and opened a student current account, I received an interest free overdraft of about &pound;1200. I wasn&#39;t entirely sure of what that meant. My brother informed me &quot;So that&#39;s like your new zero&quot;, and encouraged me to use it to buy a new gaming PC. For the next few years I really really wish I hadn&#39;t taken that advice, he&#39;s never been too amazing with his money so I should have seen that one coming. - SeveralAioli3 

Does anyone really know how money works?  It&#39;s hard to say, especially when you think about some of the truly shocking financial advice that people give and receive. A recent Reddit thread asked people, &quot;What&#39;s the worst piece...