6 (Totally Wrong) Ways We Have Been Accused Of Money

    0
    17



    On a scale of one to 10, how much do you detest mansplaining?

    Personally, it’s an 11 that takes the top spot over manspreading and bropropriation, however barely Squeak past manterrupting.

    Just the thought of the unsolicited – or simply wrong – advice that women sometimes have to listen to makes me shudder. It is particularly bad when it comes to financial advice. Studies show that women are increasingly becoming the key decision makers in the financial world in their homes. So thank you, but we’ve heard enough “oh, honey” and “let the men do this” for a lifetime.

    Here are some of the most nonsensical financial manplanations we’ve heard in person and online – yes, they’re real – and what we financially savvy women know instead.

    1. ‘Cash is king, so don’t pay your credit card in full.’

    Sounds like this guy is just trying to (falsely) reproduce what his leader Dave Ramsey drilled into his brain. Yes, having cash on hand in an emergency is great (that’s why you have an emergency fund), but do you know how to get it all really quick?

    Pay insane interest on your credit card balance.

    Some credit card companies these days are charging a whopping 36% APR, which could wipe out all the money this Ramseyit worships.

    One way to actually get your money long term is to get rid of your debt as quickly and cheaply as possible. (If Mr. Know-it-all had actually paid attention to his idol, he would know). Then you can stop wasting your money on interest. A website called AmOne wants to help.

    If you owe your credit card company $ 50,000 or less, AmOne will provide you with a low-interest loan that you can use to pay off every single one of your balances.

    The advantage? You have to pay an invoice every month. And because personal loans have lower interest rates (AmOne rates start at 3.49% APR), you become debt free The much faster. Plus: No credit card payment this month.

    AmOne keeps your information confidential and secure, which is probably why it still has an A + rating with the Better Business Bureau after 20 years in business.

    It takes two minutes to see if you qualify for up to $ 50,000 online. You need to give AmOne a real phone number to qualify, but don’t worry – they won’t spam you with phone calls.

    2. “Don’t try to bargain – if you really wanted to, you’d pay full price.”

    Even millionaires and billionaires don’t pay full price when they don’t have to – what kind of brother thinks he looks cool showing off his sticker-priced items?

    Nobody we want to take financial advice from, that’s for sure. Actually we would to prefer Let someone tell us when we are overpaying for something and then show us where we can get it cheaper.

    This is exactly what this free service does.

    Just add it to your browser for free, and before you check out, it will check other sites including Walmart, eBay, and others to see if your item is on sale for a cheaper price. You can also get coupon codes, set up price drop notifications, and even see the item’s price history.

    For example, let’s say you buy a new TV and assume you’ve found the best price. Here you will get a pop-up letting you know whether this particular television is available for a cheaper price elsewhere. If coupon codes are available, these will also be automatically applied to your order.

    Last year, this saved people $ 160 million.

    You can get started with just a few clicks to see if you are overpaying online.

    Capital One Shopping will compensate us if you receive the extension using the links provided.

    3. “Let the men do the negotiations, honey. We’re getting better deals. ‘

    Oh come on Not only is this wrong – it’s really rude. Not to mention, it completely contradicts the last man’s advice. Sometimes it just takes knowledge, confidence, and assertion to get a killer deal.

    But sometimes you just need to know the best places. For example, if you want to get the best deal on auto insurance, use a website called Insure.com.

    Insure.com makes it easy to compare car insurance prices. All you have to do is enter your zip code and age and your options will be displayed.

    With Insure.com, people saved an average of $ 489 a year. That’s a damn good deal, honey.

    Yup. That could be nearly $ 500 in your pocket just to take a few minutes to consider your options.

    4. ‘Open a new credit card and don’t pay off all of it to improve your credit score.’

    Why do all these mansplainers believe that having unpaid credit card balances will help them achieve their goals? Pooh. If you have too much balance on your credit card, this likely will be too opposite cause.

    Instead, we know we can trust the experts when it comes to keeping an eye on our creditworthiness. After all, it plays an essential role in any big purchase you want to make – be it a home, a car, or even starting a business.

    So, if you’re looking to get your creditworthiness back on track – or even if it’s on the right track and you want to improve it – try a free website called Credit Sesame.

    Within two minutes, you’ll have access to your credit history, all debtor accounts, and a handful of personalized tips for improving your score. You can even spot bugs that are holding you back (every fifth report has one).

    Atlanta-based James Cooper used Credit Sesame to add nearly 300 points to his credit rating in six months. * “They showed me the ins and outs – how to dot the I and cross the T,” he said.

    Would you like to check for yourself? It’s free and only takes about 90 seconds to sign up.

    5. Invest your income; Do not put it in a 401 (k). In the end everything will be the same. ‘

    Own investments are great, don’t get us wrong. But doesn’t this guy understand how incredible an employer’s 401 (k) match can be? If you take full advantage of it, it could be hundreds of thousands of dollars extra on your retirement account.

    Setting aside money from your paycheck to put in your 401 (k) is literally one of the smartest things you can do about your future. And if your employer doubles every contribution, it’s free money!

    But if you can’t take advantage of that employer perk because you need all of your paycheck every month, a company called Lendtable will provide you with the money.

    We know it sounds too good to be true. However, if your employer has a 401 (k) match program, this is money they have already earmarked for you. When you use Lendtable you can unlock this free cash.

    Let’s say you make $ 50,000 a year and your employer pays your 401 (k) contribution up to 4%. If you add $ 0 to your retirement account this year, your boss will give you $ 0. When Lendtable lends you the 4% of your salary that your employer is willing to pay, your boss will give you $ 2,000, minus Lendtable’s fee. (This comes from the extra money you made so you don’t have to make a sacrifice.)

    It takes three minutes to answer a few questions about your eligibility and sign up for an account.

    Once you have received your full Match amount from your employer, LendTable will take back the money they loaned you plus a small portion of your profit. If your retirement account provider imposes a penalty for withdrawing money, Lendtable will take care of that too.

    The risk to you is basically non-existent so you would get Future Millionaire to listen to this mansplainer and not take advantage of your employer match with Lendtable’s offer. Start here.

    6. “You just have to invest in Tesla.”

    Tesla has proven to be a profitable stock, there’s no doubt about that. And if you’d listened to this Mansplainer and didn’t invest in Tesla until 2010 (starting at $ 3.84), you’d have one firmly profit now.

    But here in 2021, not everyone can afford more than $ 650 worth of stock – and not everyone should be putting all of their money into it anyway. Diversifying your investments, even smaller ones, is a smart way to grow your wealth in the stock market. So don’t put all of your electric eggs in one Model 3 basket.

    However, if you feel that you don’t have enough money to start investing, you are not alone. But guess what? You really don’t need that much – and you can even get free shares (valued at $ 2.50 to $ 200!) If you know where to look.

    Whether you have $ 5, $ 100, or $ 800 to spare, you can invest with Robinhood.

    Yes, you’ve probably heard of Robinhood. Both beginners and professionals love it because it has no commission fees and you can buy and sell stocks for free – with no limits. Plus, it’s super easy to use.

    What’s the best? When you download the app and add funds to your account (it won’t take more than a few minutes), Robinhood will leave a percentage of free shares in your account. It’s random, however, so the stock can be worth anywhere from $ 2.50 to $ 200 – a nice boost to help you build your investments.

    Kari Faber is a writer for The Penny Hoarder. Her husband knows better than telling her about her finances.

    * Like Cooper, 60% of Credit Sesame members see an increase in their credit score; 50% see an increase of at least 10 points and 20% an increase of at least 50 points after 180 days.

    Credit Sesame does not guarantee any of these results, and some may even experience a decrease in their credit score. Any improvement in score is the result of many factors including paying bills on time, keeping funds low, avoiding unnecessary inquiries, proper financial planning, and developing better credit habits.


    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here