10 Terrible Money Advice People Received From Their Parents

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

1. A Pay Increase May Hurt Your Tax Status “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"

2. Investing is a Gamble 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.

 Terrible Money Advice

3. Purchase the Largest House that You Can Afford One Redditor suggested their parent’s advice to buy the biggest house they could afford as soon as possible was some terrible advice given that they unfortunately took.

4. Avoid Using Credit. It’s a Trap The advice to avoid using credit cards because it’s a trap was terrible advice to many. One shared, “I heard, Never get into debt or use credit cards, which I later in life found out was just dad being a bit salty about the finance on his hi-fi outlasting the actual item itself.

5. You Should Buy a New Car

Six years later, I own my flat, and he makes more than me but still rents, and I don’t believe he has any savings. But he does have a shiny new A-Class Mercedez.

6. Your Sunday’s Best, Your Resume, and Hit the Town “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,” one sarcastically mocked.

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