Searing your steak as a way to ‘lock in the juices’ is something we’ve heard folks recommend for years! Get that grill hot as blazes, toss on your steak, and reap the juicy medium-rare rewards. But even though there might be a kernel of truth here, culinary scientists tell us that it’s not actually the best method. It turns out that the reverse sear is the better way to do it! Similarly, there are phrases and ideas in the personal finance space that get preached as though they’re the gospel truth. And there are a number of reasons why certain bits of advice stick with us- maybe it intuitively makes sense or perhaps it’s packaged well and is just flat-out catchy. We’re all looking for guidance and shortcuts but that doesn’t necessarily mean that these sayings are sage advice. So today we call out some of the biggest culprits on the show and share how you should be thinking about your money.

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During this episode we enjoyed an Uplifted Scottish Ale by Talisman Brewing- thanks Andy for donating this one to the pod! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

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One comment on “Popular Money Advice That Just Ain’t Right – Episode 593

  1. Kerry Nov 18, 2022

    This was one of my favorite episodes. I always say that I don’t save money to have money – I save to have what money can do for you – be it things or experiences. I was feeling out of step with you guys as your focus felt exclusively on accumulating wealth. It was good to see the gap wasn’t as great. I think we all agree – accumulate money and spend it consciously on the things that bring you the greatest return.