5 Items of Unhealthy Monetary Recommendation You Ought to Keep away from

When it comes to money, everyone likes to put their two cents in.

Oh, you should definitely buy, not rent. Stay away from credit cards; You are evil. Why Are You So Concerned About Your Credit Score? It does not matter.

There is a lot of – frankly – stupid advice floating around and it can be difficult to figure out what's up and what's down.

Well, we're here to break the record. This is where you can find all the stupid money advice – and what to do instead.

Silly advice # 1: keep money in your checking account

You've probably heard that the best way to grow your money is to put it in a savings account and keep it there forever. That is bad advice.

Maybe you're just looking for a place to safely stow it away – and still make money. You won't get anything under your mattress or in a safe. And a typical savings account doesn't make you much better. (Um, 0.06% is nothing these days.)

However, with a debit card called Aspiration, you can earn up to 5% cashback and up to 16 times the average interest on the money in your account.

Not too shabby!

Enter your email address here and link your bank account to see how much extra cash you can get with your free Aspiration account. And don't worry. Your money is FDIC insured and under military encryption. This is nerd talk for "that's perfectly safe".

Silly advice # 2: you should get 3 auto insurance quotes

People love to tell you to look around. "You should get three different quotes to get the best auto insurance rate," they say.

Sure, that sounds like good advice. Here's why it's wrong: Comparing just three companies is nowhere near enough. We suggest comparing 40. But who has time for it?

A company called Savvy will do this for you for free. This gives people an average of $ 826 a year in their bank accounts – and gives you the same coverage you already have.

It doesn't matter when you last renewed. You can get a check from your old company for the remainder of your previous policy. (Read: They Probably Owe You Money.)

No need to make calls or fill out forms. It takes two minutes to see how much Savvy can put back in your pocket.

And the best part about it? As we drive less, some insurers are cutting prices this month.

Stupid Advice # 3: You Must Save $ 1,000,000,000,000,000 Before You Die

All your life people have told you to save. Save for emergencies. Save for the future. Save for your family. This course requires a ton of dollars in the bank.

Here's the thing: you should keep a healthy amount of savings in the bank, but if you want to give up to $ 1 million to your family, use what is called term life insurance.

We recommend a company like Fabric. Perhaps you've considered this before, but thought it was only for rich or elderly people. But we hear people can get it for just $ 14 a month.

And the truth is, this is one of the smartest things you can do with your money right now.

Answer a few quick questions here and fill out the form to see how much money you can leave your loved ones – it only takes a few minutes.

Silly advice # 4: you have to be a billionaire to buy an apartment house

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This year was a roller coaster ride. However, historically real estate investments offer the best long-term returns. (Does the Rockefeller name ring a bell?)

That's why we like to invest with professionals like DiversyFund. They'll help you invest in homes and office buildings across the country long term – and you don't have to be a millionaire. You can get started with just $ 500.

You can see exactly which properties are in your portfolio – for example, a 200-unit apartment complex in Killeen, Texas, or a 59-unit building in San Diego. And you don't have to be the landlord – DiversyFund does all the heavy lifting.

Knowing how to navigate the ups and downs of the market, they have historically seen annual returns of 17% to 18% despite being unable to make promises.

As a partial owner, you make money with rent payments and when property values ​​rise. It only takes a few minutes to sign up and own your first apartment building.

Stupid Advice # 5 You have to pay your credit card bill every month

If you have credit card debt, you know. The fear, the interest rates, the fear that you will never escape …

And the truth is, your credit card company doesn't really care. It only gets rich by fooling you on high interest rates. But a website called AmOne wants to help.

If you owe your credit card company $ 50,000 or less, AmOne compares you to a low-interest loan that can be used to pay back every single one of your balances.

The advantage? You have to pay an invoice every month. And because personal loans have lower interest rates (AmOne rates start at 3.99% APR), you'll get out of debt much faster. Plus: There is no credit card payment this month. AmOne also won't make you stand in line or call your bank. And if you're concerned about not qualifying, you can look online for free. It only takes two minutes and can help you pay off your debt years faster.

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