Wednesday, April 17, 2024
HomeFinance6 Viral Pieces Of Money Advice You Should Ignore

6 Viral Pieces Of Money Advice You Should Ignore

In this episode, Chelsea dissects various pieces of money advice that have gone viral on TikTok, Reddit, or other platforms, and how they range from unhelpful to downright dangerous.

Short squeeze: https://www.investopedia.com/terms/s/shortsqueeze.asp#:~:text=What%20Is%20a%20Short%20Squeeze,pressure%20on%20the%20stock's%20price
https://www.disnat.com/en/learning/trading-basics/stock-basics/what-causes-stock-prices-to-change#:~:text=If%20more%20people%20want%20to,and%20the%20price%20would%20fall

Lack of disclaimers on stock advice: https://www.techradar.com/news/tiktok-influencers-exposing-millions-to-misleading-stock-tips-and-financial-advice

TikToks referenced:

https://www.tiktok.com/@justhomesgroup?referer_url=https%3A%2F%2Fwww.vox.com%2F&referer_video_id=6907256262279318790

@juliahurleyrealtor

#stitch with @420loveontour #avoidingtaxes #taxes #scorp

♬ original sound – JuliaHurleyRealtor

@curtisray

Reply to @xle0nxx #STUDENTLOANS #studentdebt #studentloan #studentloandebt #studentloansbelike #retirementfund #retirementsavings #retirementplan #fyp

♬ original sound – Curtis Ray


https://www.tiktok.com/@ceowatchlist/video/6903696044417207558?lang=en

IRS on business expenses: https://www.irs.gov/businesses/small-businesses-self-employed/deducting-business-expenses

S corporations: https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations
https://bench.co/blog/operations/s-corporation/

Fidelity on debt: https://www.fidelity.com/spire/investing-paying-off-debt

Living off debt: https://www.bloomberg.com/news/articles/2020-12-04/viral-tiktok-videos-with-personal-finance-advice-may-not-be-the-most-trustworthy

Credit card interest: https://www.creditkarma.com/credit-cards/i/how-does-credit-card-interest-work

Being your own boss: https://www.forbes.com/sites/carolinecastrillon/2019/01/22/five-signs-its-time-to-be-your-own-boss/?sh=4a5a9fc42a2a

Self employment stress: https://academicworks.cuny.edu/cgi/viewcontent.cgi?article=1277&context=gc_pubs

FIRE subreddit: https://www.reddit.com/r/financialindependence/

FIRE during COVID: https://www.forbes.com/sites/jrose/2020/05/19/did-coronavirus-destroy-the-fire-early-retirement-movement/?sh=3f683d0b555d

Watch more of The Financial Diet hosted by Chelsea Fagan here: https://www.youtube.com/playlist?list=PLD30V46E07RR99cC0gCjKUbt-BKoDUcnc

The Financial Diet site: http://www.thefinancialdiet.com

Facebook: https://www.facebook.com/thefinancialdiet
Twitter: https://twitter.com/TFDiet
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