10 Terrible Pieces of Money Advice People Received From Their Parents

Have your parents ever given you a terrible piece of financial advice? You’ve got company.

Several Redditors flooded the comment section after someone asked for  examples of terrible advice their parents gave them regarding money.

"The worst advice my mum ever gave me was (wrongly) explaining that  people who earn just below a tax threshold sometimes choose not to  accept pay increases."

A Pay Increase May Hurt Your Tax Status

Many agreed that being told not to invest because it’s a gamble was some  of the worst financial advice people received from their parents.

Investing is a Gamble

One Redditor suggested their parent’s advice to buy the biggest house  they could afford as soon as possible was some terrible advice.

Purchase the Largest House that You Can Afford

"I avoided good credit for a long time, but fortunately, I got over it  in time for house buying and all the fun that comes with it."

Avoid Using Credit. It’s a Trap.

"When I was 19-20, I had a few junkers for cars, some of which died out and left me stranded."

You Should Buy a New Car

"Oh yes, the ole turn up uninvited in a suit. Give them some courage and a  firm handshake, and a job will magically appear routine."

Your Sunday’s Best, Your Resume, and Hit the Town

"It’s the same horrendous advice most of my first-generation immigrant friends and I received when we were kids."

You Won’t Achieve Success Unless You Get a Degree

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