There are many articles on the Internet that give tips on using money and saving. But often such recommendations are incorrect or even dangerous. They are often listened to by mature people who themselves cannot make the right decision. Therefore, we can highlight some bad financial advice, which often leads to a deterioration in financial standing or refusal of desired purchases.
Sell your car two years after purchase
Such advice is often found on the Internet: a new car needs to be sold two years after purchase. Allegedly, only at this time you can get rid of the car for a short period of time and with minimal loss of your finances. Otherwise, it will not be possible to sell the car for a good price, so it will have to be sent to a landfill.
In fact, such advice is incorrect, but it is actively supported by various car dealerships. Such organizations are interested in making people buy new cars as often as possible. Therefore, they insist on the resale of the car two years after the acquisition. In this case, the person will be forced to contact the salon again to make a second purchase.
Automobiles are sought after and liquid assets that are valued at any given time. Through Avito and other sites on the Internet, you can quite easily find a buyer even for a car that is more than ten years old. You can find a buyer for any car, so you should not trust the advertising information that is posted on the Internet by car dealers and manufacturers.
No need to get loans or get credit cards
This financial advice is quite common. Usually it is aimed at the elderly, whom the banks allegedly constantly deceive, wanting to get fabulous profits. It is believed that even a small loan is the reason for falling into a debt hole.
In fact, any person should keep up with the times. Credit products offered by banks are useful and necessary in the lives of many people. Only with the help of borrowed funds can any major acquisition be made, and it is almost impossible to save money for it on our own.
Today, on favorable terms, you can even get a mortgage or car loan. Purchased property acts as collateral, so people will not lose their personal values if they can not cope with the credit load, since the bank will only pick up the apartment or car purchased.
Sometimes on the Internet they even warn about the dangers of credit cards, but if you know how to use these banking tools correctly, you can get some benefit. For example, you can make an urgent purchase even in the absence of funds by returning money to the card before the end of the interest-free period. Under such conditions, the use of borrowed funds does not have to pay any interest.
Buying exclusively with discount coupons
Many stores use special discount coupons to save a small portion of money. Typically, these coupons are issued when making any purchases or when making magazines.
But the problem is that due to the availability of coupons, people begin to buy goods that they actually do not need. Additionally, many stores specifically wind up a price tag for such products so that they can be sold at the previous cost when using coupons. Therefore, the benefit of using such discounts is minimal.
It is better to borrow money from friends than to get a loan
There are many different articles on the Internet where the positive aspects of a money loan from friends are given instead of applying for a regular bank loan. But in fact, it is best to become a borrower in a bank than to contact friends.
If you have a debt to a person you know, some people simply forget about their duties, so they avoid returning money. If a person has a loan, then bank employees are constantly reminded of the date of payment. If it is missed, then the debt increases due to the calculation of fines and penalties. Additionally, funds are recovered by a forced method through bailiffs or collectors. Due to these features, many people are more responsible for bank loans than for debts to friends.
The above bad advice often leads to people making the wrong decisions when faced with negative consequences. Therefore, before committing any action, you need to evaluate the pros and cons of each option. You should not trust all the information that is on the Internet.