Do you have problems with your finances? If you do, there will be hoards of people lining up to give you advice. Unfortunately, having financial difficulty is an excuse for others to pass along tips you MUST follow. For example, you should never talk to people outside of your circle because they dont have your best interests at heart. But, the fact is its a good idea to broaden your circle for advice purposes. Quite simply, some of the things you hear just arent true. At least, they arent accurate with regards to your situation. Sometimes, ignorance is bliss, and here are those times.
When You Are In A Rush
The problem with financial difficulty is the lack of time. It is hardly the case that you are in trouble and you have the time to make an informed decision. The reality is you are in trouble and have to make quick decisions. When you are in this situation, advice will seem like it is true. It is human nature to believe the people you trust who appear to have rock solid information. However, the info isnt solid it just seems that way because you are in need. No matter how quickly you have to react, you should try and slow down and think about your situation critically.
When Its For Someone Else
This is the biggest problem with financial tips and tricks they often arent for you. Instead, they are for someone else who is in a similar position. Still, just because someone is in a similar position doesnt mean the situation is precisely the same. Like a snowflake, no two financial problems are the same because they involve different people. So, when someone says a loan is a bad idea, it is a bad idea for them and their circumstances. In reality, everything from a bankruptcy auto loan to a second mortgage could be a good idea. It all depends on your personal circumstances.
When They Talk In Generalities
Have you noticed this before? People with advice always say one thing is wrong or one thing is right regardless of the situation. They might say, for example, it is always a bad idea to take risks if you are in debt. The problem with this way of thinking is the lack of rationale. Just to label something wrong without looking into the pros and cons is flawed. To be honest, it is stupid, too. Sometimes, you have to take risks to get out of a hole, especially if it is your only option. Never take people at their word when they make sweeping statements.
When They Lack The Info
What do all of the above have in common? The people giving the advice dont have the information they need to offer advice, nor do they seem to bother. Still, they still hand it out like volunteers hand out free food at a soup kitchen. The only time you should listen to someone is when they know all of the facts. Otherwise, the advice is bound to have flaws that could make things worse. After all, how can they presume to know what to do when they dont understand the situation?
Do you hear that? No, you dont? Great!