These Popular Money Sayings Are Not Actually Great

Man eating avocado toast with poached egg, close up

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There is a saying for everything, isn’t there?

However, one big part of growing up is that not every saying you heard around the dinner table is accurate. In fact, some may be partially true while others just flat out miss the mark.

Sayings about money are no different, and How to Money hosts Matt and Joel are here to debunk some of the most popular money-isms around. First up on the chopping block, avocado toast and Starbucks’ drinks, the food items that supposedly suck the bank accounts of Millennials dry.

“It’s bar none, one of the pieces of advice I hate the most,’ said Matt. “It's not that spending too much money at your local coffee shop isn’t possible, it definitely is.”

As the hosts explain, yes, it is possible to overspend on lattes or food items, but most of the time those are not the only budget killers on the planet. For Matt, blaming wasteful spending on coffee shop owners doesn’t make any sense.

“There are so many other places where folks are wasting money,” he said. “Like ridiculous car payment where you are paying for a fancy car you don’t need.”

Next, the hosts tackle side hustles like Uber and Instacart. The pair advise their listeners to be careful of predatory side hustles. Having an extra job is great, but sometimes it is not worth it.

“We are all about folks using the spare time that they’ve got to get after whatever financial that they have set for themselves,” said Joel. “The allure to immediately make some extra cash is attractive, not to mention all the apps, they are designed to keep folks coming back.”

Side hustle companies have essentially gamified their apps to make workers want to keep going, even after they are burned out. The hosts remind their listeners to keep their career goals in mind when doing these side jobs.

Listen to “Popular Money Advice That Just Ain’t Right” to hear all of the money advice Matt and Joel debunk. How to Money launches several episodes a week on the iHeartRadio app, but the financial content doesn’t stop there. Matt and Joel release extra resources for every episode, send out a weekly newsletter, and moderate a How to Money Facebook group.

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