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My dad's "helpful" advice about money finally made me realize why I was always broke
Growing up, my dad always said to avoid debt at all costs. No credit cards, no loans, nothing. I followed that advice for years and kept my savings in a regular checking account. Last year I tried to rent an apartment and got denied because I had zero credit history. The landlord literally told me I was a ghost on paper. Then I looked at my savings and realized inflation ate up like 5% of its value over three years. My dad's "safe" approach actually cost me money and opportunities. It took getting rejected for a $1,200 a month place to see that his old rules just don't work anymore. Has anyone else had to unlearn financial advice from parents?
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riley_wood8413d ago
Hold on, @wood.eric, that middle ground can be just walking right into a credit trap if you're not careful.
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wood.eric13d ago
What happens when you follow the rules but the game changed? That's what happened to you. Your dad meant well, but his advice was for a different time. Now you need a credit score to even exist in the system you can't just avoid plastic altogether. The inflation part is what gets me too. People act like cash under the mattress is safe but it's losing value every single day. You gotta find that middle ground between being careful and being smart about the way the world actually works right now.
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