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Financial Advice From Your Parents to Ignore

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Illustration for article titled Financial Advice From Your Parents to Ignore

Image: michaeljung (Shutterstock)

In the time of coronavirus, there is some money advice that no longer applies. Our parents’ generation may have passed down rules of thumb with good intentions—but some of these pearls of wisdom may not fit the challenges of the modern era, so here are some common rules you may want to break.

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Pay off debt as fast as you can

With the pandemic going strong, many Americans are still reeling from fewer hours and unemployment. Whether you’re struggling to pay the rent, cover student loans, or put food on the table, you should prioritize your family’s immediate needs. Once your income is stable again and you can afford the basics, you may return to your previous debt repayment plans.

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The stock market is like gambling

After some dips in February and March, experts were quick to cite the end of the 11-year bull market, before the stock market recovered in record time. While volatility may frighten those closer to retirement, there are plenty of reasons to stay optimistic—particularly if you have a long investing timeline ahead.

Although the media fixates on stock market swings, history shows an upward trajectory. Over the past hundred years, there have been some big drops—but the numbers still move upward. If you steer clear of investing, you could miss out on many years of compounded growth.

Renting is throwing money away

As mortgage rates continue to plummet, you may be feeling more pressure than ever to buy into The American Dream. But the truth is, homeownership could be the wrong move, particularly if you have to stretch your family’s budget to make it happen. Taking on a higher payment, even if you qualify, could be risky in an unsteady economy.

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Despite what anyone says, your primary home is not an investment. As the median home prices hover near record highs, there are no guarantees a home value will continue going up. And depending on the age of your home, you may spend a lot more than you expect on repairs and maintenance.

There are, of course, plenty of reasons to buy a home—like putting down roots, having more control over your living space, and more. But let’s ditch the old adage that renting is throwing money away.

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Charge Your Phone Wirelessly With 50% off a Multifunctional LED Lamp

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Best Tech DealsBest Tech DealsThe best tech deals from around the web, updated daily.

White Wireless Charge Lamp | $18 | Amazon | Clip coupon + code ABC88699
Black Wireless Charger Lamp | $20 | Amazon | Promo code ABC88699

When you’re ready to turn in for the night, you don’t want to forget to charge your phone— especially if your mobile device doubles as your alarm clock.

With this wireless charger lamp, you can make this crucial step of your nightly routine even easier by just setting your phone on the wireless charging pad and… well, that’s all there is to it!

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Other functions include multiple lighting modes as well as a sleep timer option for auto shut-off of the light after 30 or 60 minutes.

This lamp can be yours in white for $18 if you clip the coupon on Amazon (it’s below the original $40 price) and add promo code ABC88699 at checkout.

You can snag the black version for $20 using the same code—no coupon though, sorry.

Don’t sleep on this deal! Who knows how long stock or the coupon code will last?

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Keep That Hotdish Hot With 65% Off a Luncia Casserole Carrier, Only $11 With Promo Code

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Luncia Double-Decker Dish Carrier | $11 | Amazon | Promo code SDDU9S7F

It has been a long time since the days we could safely have a potluck or other gatherings, but we have a fantastic deal perfect for once those times return. These double-decker Luncia dish carriers can be had for 65% off when you add promo code SDDU9S7F at checkout and clip the coupon on the site (it’s just below the price). These holders fit 9″x 13″ sized baking dishes.

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That means you can insulate and keep two dishes of food warm for only $11 instead of $30. What’s more, your Luncia carrier will arrive by Christmas if you order today as a Prime member.

Just add promo code SDDU9S7F and clip the 5% off coupon to bring the price down to $11 for the blue or the grey option.

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Grab this offer while it’s still around!


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Conquer Your Pup’s Dander and Fur With $700 Off a Cobalt or Charcoal Bobsweep PetHair Plus Robot Vacuum

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Bobsweep PetHair Plus Robot Vacuum & Mop (Cobalt) | $200 | Best Buy

Bobsweep PetHair Plus Robot Vacuum & Mop (Charcoal) | $200 | Best Buy

Allergies can be bad enough as the seasons change. Don’t let pet hair and dander add to that by vacuuming it up early and often. That chore is easier said than done— unless you have a robot vacuum to do the work for you. This lovely bright cobalt Bobsweep PetHair Plus robot vacuum and mop, only $200 today at Best Buy seems like an ideal option. That’s a whopping $700 off, by the way.

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You can get the same deal for the charcoal version of the robot vac, too. This model is not only specially made for picking up pet hair, it self docks and charges when it’s finished with the work.

It also comes with a mop attachment, so it can take care of those kitchen floors for you as well. Grab it while it’s still available for this fantastic price!

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