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Welcome To Money Smart Guides!

Overwhelmed by debt? Want to make investing a breeze? The goal of this site is to help you get out of debt and start investing for your future. If you are unsure where to start, click here to begin. I will break everything down for you in small, obtainable steps so that you can take control of your finances once and for all.

Worst Financial Advice Ever

worst adviceLook anywhere online and you will find financial advice. This is good and bad. Having easy access to all of this knowledge allows for you to easily learn and take the steps needed to become financially successful. But this also allows people who have no business writing about finances to give advice. It also means that companies that are trying to scam you out of your hard earned money can give advice that makes their product/service look good. Below I’ve come up with 12 pieces of the worst financial advice ever. Follow them with caution!

12 Pieces of The Worst Financial Advice Ever

Co-sign A Loan

I’m sure there is one (maybe two) reasons why you would want to co-sign a loan. But for the overwhelming amount of times, it makes zero sense to co-sign a loan. When you co-sign a loan you are saying that you are willing to take over the loan payments if the other person stops paying.

Let’s think about this for a minute. Are you OK with paying for someone else’s car? Are you OK with paying for someone else’s education? If you answered yes to these, email me as you have just become my BFF.

No matter how much you love or care about the other person, you should not co-sign a loan. It will end badly. Alright, 99% of the time, it will end badly.

What To Do Instead: Support them. If they need a co-signer, either they are trying to take out a loan for more than they can handle or they have bad credit – meaning they aren’t great with handling their money in the first place. If they are trying to take out too much of a loan, help them to find a lower cost option. Instead of a new car, look at good used cars. Maybe help them to find ways to save more money or earn more money so they can take out a smaller loan and therefore won’t need the person to co-sign. [Read the full article]

The Complete (Fun) Guide To Understanding Health Insurance

health insurance deductible

A few months ago, I went on a mini-rant about why health insurance is so complicated. I feel that I am a reasonably smart person, but for the life of me, I just cannot wrap my head around all of the in's and out's surrounding the world of health insurance. I think I get the gist of it, then I learn … [Read the full article]

Automating Your Savings Just Got Easier Than Ever

automated savings with digit

A few months ago, I posted on the simplest way ever to become rich. While I think you should really read that post, I’ll give you a CliffsNotes version. (Side note: do they even make CliffsNotes any more? Do kids still use them?) Anyways, the way you become rich is to automate your savings. Since … [Read the full article]

3 Ways to Help Your Business Thrive Overseas

Overseas

Have you ever woken up in a cold sweat after realising your business is a small fish in a vast ocean?For years, you’ve been happy flogging your wares to local customers that you know by name, but there comes a time for broadening horizons in every ambitious entrepreneurs life.Whilst you may … [Read the full article]

How To Find The Perfect Premises For Your Start Up

location

Taking a leap into the unknown and starting your own business can be terrifying.After you’ve given up the security of a regular wage and the thrill of telling your boss what you really think, the sudden awareness that you’re on your own hits home like a David Beckham free kick.From now on, … [Read the full article]