10 Most Controversial Opinions on Finance

Personal finance is a complicated game. While most people live paycheck-to-paycheck, pleading that the end of the month comes sooner, others focus on their next asset. The conversation online recently centered around the most controversial opinions people have on finance.

10 Most Controversial Opinions on Finance

Too Many People Believe Their Balance Defines Them There was lots of kickback against those for whom savings and assets are central to their happiness. So setting targets for buying those assets or investments people should be key, and not just saving to the detriment of one’s living standards.

Use This Ten Percent Rule One lady exposed how her ex-husband grew up wealthy, but she grew up poor. For every $100 she earned when they were married, she saved $10 and invested it. Meanwhile, her ex spent more than he had, deferring to wealthy parents whenever needed. Now divorced, she is financially better off, even though he still earns more than he does.

Making Your Payments Doesn’t Mean You Can Afford Something Nothing says I am in control more than quoting a famous line from the financially well-endowed Jay-Z: “If you can’t buy something twice, then you can’t afford it once.” Enough said. As expected, many posts expressed disdain at anyone spending beyond their means.

Develop Solid Study Habits Early The basics you will learn in elementary school create a springboard for all that comes in later life. The consensus in one thread showed that ~people still value education. They argued by instilling productive habits from ages four to 18, they could do more for our kids’ lives than anything they can “do between age 18-80.”

Embrace Your Inner Passport, Bro It dawned on me the other day that if I were to survive until 100 years old, how much would that cost in retirement? Some people choose to sell up and retire in a country where land, housing, and living are cheaper such as Thailand or Mexico.

Leveraging Debt Can Work Throughout the thread, advocates for using debt appeared. Some opinions made sense, arguing that if businesses use loans to invest in their revenue streams, this can work for consumers too. The only caveat is the cost of monthly repayments aren’t more than the monthly generated revenues.

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