Sunday, August 9, 2026

What money advice from your parents turned out to be completely wrong?

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    • #2232
      Ashley Faye
      Participant

      Mine: ‘Just work hard and save money in the bank.’ No investing. No index funds. No understanding of inflation eating your savings alive. What outdated money beliefs did you grow up with and when did you finally unlearn them?

    • #2235
      amy.stevens943
      Participant

      I grew up believing debt was always bad and investing was basically gambling meanwhile inflation was quietly destroying cash sitting idle. It took me way too long to realise that financial literacy isn’t just about saving money, it’s about making money work for you.

    • #2421
      Daniel Cross
      Participant

      One money belief I had to unlearn was that saving alone was enough. Growing up, the advice was simple: work hard, avoid debt, and keep your money in a savings account. It sounded safe, but no one talked about inflation or the opportunity cost of leaving money idle for years.

      It wasn’t until I started learning about long-term investing that I realized the goal isn’t just to save money—it’s to make your money work for you. Even small, consistent investments can compound over time in ways a traditional savings account often can’t match.

      I also had to let go of the idea that investing was only for wealthy people. Today, you can start with relatively small amounts and build the habit over time.

      One article that really helped me rethink this mindset was “Why Investing Is Important” on LinkedIn article. It explains, in simple terms, how inflation impacts purchasing power and why long-term investing matters:

      Looking back, I wish someone had taught me the difference between **saving for security** and **investing for growth** much earlier. Both are important—they just serve different purposes.

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