The Truth Behind 14 Common Money Tips

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You’ve probably heard that you should buy a used car instead of a new one. But used car prices surged 27% from early 2021 to early 2022. Does that advice really make sense for everyone?

We hear a lot about what the “experts” recommend, but does it make sense for you? In today’s podcast, we’ll take a look at some “common sense” financial advice and talk about whether we think it’s a good idea.

As usual, podcast co-hosts Stacy Johnson and Miranda Marquit are joined by producer Aaron Freeman.

Remember, even though we sometimes talk about specific investments on this show, never take them as recommendations because they’re not. Before investing in anything, do your own research, and make your own decisions.

You can watch this episode below, or if you’d prefer to listen, you can do that with the player at the top of this article. Or, you can download the episode wherever you get your podcasts:

Don’t forget to check out our podcast page for more episodes designed to help you make the most of your money and our YouTube page for more videos.

What are some common financial rules of thumb that might not work?

We hear a lot about different rules of thumb, from never buying a new car to saving 10% of your income for retirement. But like so much in personal finance, these rules aren’t one-size-fits-all. In fact, Stacy, Miranda and Aaron often ignore such advice and do what works for them.

Here are some resources on rules of thumb and what they mean. Take what you learn with a grain of salt. Financial rules can be a good place to start, but you want to tweak them for your needs.

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About the hosts

Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.

Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.

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