Ever been told to buy the biggest house you can afford… to “motivate yourself”? Or to skip insurance because “nothing bad will happen”? Yeah—us too. And we’ve got some thoughts.
In this episode, Joe, OG, and Doug break down the Top 5 Worst Financial Tips they’ve ever heard—and more importantly, why taking them seriously could leave your finances in a flaming dumpster behind your dreams.
From personal debt confessions to debates about extreme couponing, bad budgeting ideas, and the wild world of TikTok money myths, this episode is your roadmap to not falling for advice that sounds smart but… absolutely isn’t.
In this episode:
- Why “buying big” won’t necessarily inspire you—it might just bankrupt you
- Skipping insurance to save money? We’ll show you how that plan ends
- Should couples really share just one checkbook? We investigate
- The great emergency fund vs. credit card debate
- When DIY everything turns into Why Did I Try?
- How the satire in The Joneses movie is secretly more real than you think
- Listener Q&A: Impact investing, private debt financing, and what it means to be an accredited investor
- Plus, a surprise TikTok moment, OG’s thoughts on calendars, Doug’s history of April Fools’ disasters, and much more
You’ll laugh, you’ll learn, and by the end, you’ll be a whole lot more confident dodging bad advice in the wild.
🎧 Tune in and stack smarter by skipping the “advice” that could sink your stack.
Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201
Enjoy!
Our TikTok Minute
Doug’s Trivia
- Andrew Johnson back on April 2, 1866, declared the civil war over except in what modern US state?
Better call Saul…Sehy & OG
- Stacker Rob from Minne-SO-ta and his wife recently inherited some money and have created a donor-advised fund with part of that money. They want our take on how they can invest and make a social difference, specifically in women-owned or immigrant-owned businesses. Oh, and they still want to make a return on their investment.
Have a question for the show?
Want more than just the show notes? How about our newsletter with STACKS of related, deeper links?
- Check out The 201, our email that comes with every Monday and Wednesday episode, PLUS a list of more than 19 of the top money lessons Joe’s learned over his own life about money. From credit to cash reserves, and insurance to investing, we’ll tackle all of these. Head to StackingBenjamins.com/the201 to sign up (it’s free and we will never give away your email to others).
Join Us Friday!
Tune in on Friday when we’re asking our panel of contributors some of the personal finance world’s most controversial questions.
Written by: Kevin Bailey
Miss our last show? Listen here: Tiffany Aliche on Connections and Financial Wholeness (plus our take on recent DoorDash/Klarna news)
Episode transcript
I’ve got a four-bedroom house and a great community.
Like my car?
It’s new.
I even belong to the local golf club.
How do I do it?
I’m in debt up to my eyeballs.
Live from Joe’s Mom’s Basement, it’s The Stacking Benjamin Show.
I’m Joe’s Mom’s Neighbor Doug, and what are the dumbest ways people have told you to get ahead financially?
Today, Joe and OG share their top five absolutely most mind-numbing, money-saving solutions.
And that’s not all.
We’ll also answer a question from Stacker Rob from Minnesota, who has an inheritance question.
I got an answer, Rob.
Give it to your old pal with an El Camino.
And don’t you worry yourself even a little bit, because I’ll be sure to share with both you and Rob my incredible trivia.
And now, two guys who tried extreme couponing and now have cat food that’ll last well beyond Cooper’s lifetime.
It’s Joe.
Oh, and oh, Ju-ju-ju-ju-ji.
There’s some solid advice.
Spend 57 hours trying to save 27 cents.
Hey, everybody.
Welcome back to The Stacking Benjamin Show.
How did you know extreme couponing was on my list?
Was it on your list?
Doug is Nostradamus, apparently.
Man, we got a great show today.
Welcome back to The Stacking Benjamin Show.
Sit back, relax, because you’re about to have an hour of financial fun and one of our listeners’ favorite formats, if you’re new here, which is our top five episodes.
And to have a top five episode, we have to have two people that haven’t compared lists.
One is the person you hear speaking, and the other is across the card table from me right now.
Mr.
OG, how are you, my friend?
I’m good.
Happy to be here.
Doug, he’s just skipping through the rose petals.
There’s bluebirds and butterflies just flittering about his head right now.
Oh, no, I used rose petals completely, because it seems like it’s flowers, and there’s some thorns underneath those.
Have you guys heard of the Muse app, M-U-S-E?
I have not.
It’s an EEG machine.
I have it, but I haven’t used it in a long time, so I’m sure the battery’s dead and unserviceable, basically.
But basically, it’s this thing that you put on your– it’s almost like a hat, and you just kind of wear it, and it’s got little contact points around your head.
It’s for meditation, and you put some headphones in, and you listen to this thing.
And as you get calmer, you hear the rippling of the brook, and then when you’re completely calm, you get these little birds.
So, “chirp, chirp, chirp.”
Allegedly.
You’ve never heard those sounds.
I’m sure.
I’ve never heard those.
It says so in the instructions.
That’s what they tell you.
Yes, supposedly.
It’s an effin’ lie.
The birds are a lie.
I quit using it because it lied to me.
It said there were going to be birds.
The cake is a lie.
And then, bonus points if you know what that’s from.
I know you two do.
But then, instantaneously, because it’s like, you know, it’s doing this thing, and you’re trying to think of nothing.
That’s what you’re trying to get to, is just dead space.
And all of a sudden, instantaneously, we’ll turn into a roaring hurricane.
So, it was like this babbling brook, and then it’s just like, “Whoosh.”
And you’re just here, and you’re like, “Okay, try to be calm.
Try to be calm.
Shipwrecks.
People dying.”
You’re like, “It’s a hurricane.”
The exorcist’s down track.
It’s like people drowning in the hurricane.
You’re like, “No, no.
Just calm.”
And then, a lie calmed down.
So, I might need a little bit of that right now.
That’s all I’m saying.
Well, I’m glad you don’t have it, because we need you to bring it today.
I need some birds chirping.
Well, I’ll tell you, you know, our stackers is, you know, “Gee need birds chirping.”
And often, we go looking for that in the wrong place.
And we get this financial advice that you and I hear on a daily, weekly, monthly basis that just makes me stumble like I just did.
Makes you go, “What?
What?
Why would you do that?”
And some of it actually sounds great.
Sounds like great financial advice.
So, OG and I have not compared lists.
We’re going to dive into our top five worst pieces of financial advice that we’ve heard.
But before that, we have a couple sponsors that make sure that all of our stackers get this for free and you don’t have to pay a dollar for it.
You don’t have to pay a penny for it.
The soon-to-be extinct penny for it.
It’s all yours coming right up.
But let’s hear from those sponsors that make this free.
And then, OG and I share in our top five list.
The first question I think whenever we do a top five, OG, is got to be, “Why is this important?
Like, why is this topic important?”
And I think it’s important right now because with so many people on social media, like, we are getting our financial advice from the worst places.
And you always know it when you hear from somebody who you’ve known for a long time and they ask you to like, “Hey, I saw this video.”
It always starts with, “I saw this video and I was wondering how this applies to me.”
And you’re like, “Oh, yeah, here we go.”
And you know, we do our TikTok Minute and you know how many of those have been just eye roll advice.
Well, heck, let’s do the TikTok Minute right now, shall we?
Welcome to the Stacky Benjamin’s TikTok Minute.
This is the part of the show where we dive into something that a TikTok creator has done that’s either brilliant or air quotes brilliant.
OG, you think we’re going to see brilliance today or air quotes brilliance?
It’s never anything good on TikTok, so…
Oh, this one might change your mind because this news organization identified an early candidate.
We’re in kids just choosing colleges, knowing what the next step is. 13-year-old early acceptance to college.
I mean, don’t get me wrong, it’s a huge problem for the family now, but this is from a top news organization called The Onion.
If he looks different than the other students on this college campus, it’s because he’s only 13 years old.
But the amazing young Tyler is already consuming alcohol on the level of someone twice his age and his talents have gotten him accepted at Ohio State University.
The school says the decision to admit him was a no-brainer.
He’s impressive.
As soon as we saw him pounding back Coors Light, falling all over himself and puking, we knew this was someone who belongs at The Ohio State University.
If he looks different than the other students on this college campus, it’s because he’s only 13 years old.
I was too busy taking that in to…
That was a brilliant one, OG.
I mean, The Ohio State University…
On brand. …finding greatness.
I mean, now I’m starting to think The Onion is a real news outlet.
Right.
Because that couldn’t have been more factual.
That was right on, man.
Probably giving some NIL money for that.
I didn’t come here to police school.
Ohio State University.
We love you so much.
Let’s jump into these, because often we will hear a video like that one and go, “Oh, is that true?
That must be true.”
Do you think there’s people out there that are like, “That’s true?
You think so?”
That’s got to be true.
Let’s dive into these ridiculous pieces of advice that we get online.
OG, what’s your…
Number five.
Well, Doug already talked about it, but he kind of brought it up.
Extreme couponing.
Couponing.
What’s the correct pronunciation there, Dougie?
If you don’t want to make everybody uncomfortable, you say “coupon.”
I think it’s “coupon.”
It’s got a couponing then.
I got it.
Extreme couponing.
God damn it.
You know, a lot of times it makes you buy stuff that you don’t necessarily need or want.
And, you know, ipso facto, you end up wasting more money because you’re like, “I got a good deal on 700 rolls of toilet paper.”
You know, it’s like, “Well, okay, fine, but what are you going to do with all this?”
I mean, obviously, eventually you use it, but probably you don’t need to, you know, clarn a…
Back to our story from Monday.
Who’s in the toilet?
Does it need to stay in?
Yeah.
[Bleep] papers.So, yeah, I mean, there’s a time and a place if you shop at the same grocery store all the time and use your discount card.
You know, you’ve got your little type in your number so we can keep track of the stuff you spend.
A lot of times they will give you coupons for the things that you buy a lot of, and those are super beneficial because it’s like, “Oh, “Eckrid sausages, we eat those.”
I’m buying it anyway.
I’m buying that anyway.
So here’s, you know, a dollar off.
That’s fantastic.
Do that.
But I think the extreme stuff might lead you to spend more money, and this is going to come out of shock to you guys.
I bet you that’s what happens.
I bet you that’s why they do that.
Well, and that was exactly where I was going.
I should think about the…
I should have marked eight people have figured this out.
Well, think about the life…
Yeah, the life of a coupon, right?
Where does the life of a coupon begin?
It begins in the marketing department.
And it’s not, “Oh, you know what?
“Let’s give people a little extra.”
Yeah, you know, times are a little challenging right now.
Let’s cut some out of our profit margin and give back to the common man who’s buying Eckrid sausages this week.
Let’s give them all a dollar.
We’re making too damn much money.
Get them all a dollar off.
How do we spur people to spend more money in our store is where these things always begin.
And man, when you’re thinking about the coupon, you have to.
You have to think pretty critically.
I love what…
We actually had this come up organically just last week in our Facebook group, The Basement, OG.
Stacker Paul shared a meme that said, “Life Lessons.”
If something cost $1,000 and it’s on sale for $750 and you decide to buy it, you did not save $250.
You did not save $250.
You spent $750.
That’s right.
Love that one.
Well, similarly, it’s not unusual for prices to go right back up to MSRP so that they can offer that discount where the price was six weeks ago.
Anyways, there’s a website that’ll do that for you right before Amazon Prime Day because everybody sees the big discounts on Amazon Prime Day because they weren’t bothering to look at that flat iron grill back two months ago.
Who needs a floating speaker?
This guy.
Right, exactly.
And they’re 40% off.
Was that exact same price six weeks ago but you just weren’t paying attention.
Yeah.
I don’t think you’re right.
I think Amazon makes enough money, they’re like, “Let’s just give back.”
Jeff Bezos says, “How many yachts can I water ski behind?”
Yeah.
It’s so like OG to see the good in everybody.
Absolutely.
It’s a whole new day.
Well, it’s funny that Doug preempted you on his number, on your number five, OG.
This is one that is Doug’s favorite argument online.
So we’re going right for the Doug immediately with our number fives.
And this is the age old debate of debates online.
Some of the dumbest financial advice I’ve heard for the people in a committed relationship out there.
One checkbook or two.
We need to share one checkbook.
It’s just absolutely dumb.
It is the dumbest, dumbest, dumbest advice.
Share one checkbook?
Like who talks about share one checkbook besides that dude in Franklin, Tennessee.
I do think you should have one checkbook.
Yeah.
Who’s dumb here?
What do you mean?
It’s two against one.
What do you mean?
What I mean is it’s dumb.
It doesn’t matter.
It doesn’t matter how many.
Go ahead and have seven checkbooks.
Have nine checkbooks.
We’re not addressing what the true issue is, which is trusting your partner.
We’re not at all addressing this by the number of check.
No, let’s have one checkbook so that we have this people can’t hide money from each other.
I think that’s is that the basis of one checkbook versus two?
How could I show more trust in my partner than by saying, yeah, let’s give you access to my funds.
I got access to your funds.
That’s the ultimate trust.
Plus now we’re a team.
It doesn’t matter how many checkbooks you have.
If we’ve got monarch money, let’s say hypothetically, like I do and OG does, let’s say I’ve got monarch money and we’ve got all the checkbooks open.
Who gives a crap?
How many checkbooks you have?
It’s the most ridiculous argument.
Let’s just go right to the heart of this thing.
Administrative overhead.
If you’re that open and trusting, why add administrative overhead?
Just have one pot.
I can’t believe this.
This is the argument that drives you crazy.
You’re like, I can’t believe every time that we would bring this up in the early days of the show, you would always.
Have the biggest conniption writing me going, oh my God, we’re talking about one checkbook versus two again.
And now you completely have amnesia about this whole thing.
Well, it might’ve been a topic that we flagellated a little too often, but my stance has always been you’re a team one checkbook.
I’m team on checkbook also.
I don’t care how many checkbooks you have.
My life doesn’t work that way.
Cheryl and I go very, very fast.
Farneesh Tarabi says the same thing with she and her husband.
He’s going to show you stupid.
Yeah, that’s all right.
They have multiple checkbooks.
I have multiple checkbooks.
And how else are you supposed to kite checks between different banks if you don’t have multiple checkbooks?
What’s that?
What?
And how else are you supposed to kite checks from one company to another if you don’t have multiple checkbooks?
Those are the days.
Am I right, fellas?
Nobody even knows what kiting checks are now with check 21.
But that used to be a thing.
You could write a check for Bank of America, deposit into Citibank and write a check from Citibank and pay your bill.
And then sometime in the near future, you better get that money back into Bank of America very quickly.
You had a couple of days.
Finally.
You could figure it out.
You could.
Yes.
Law enforcement, please.
Don’t send your messaging to OG.
I’m team one checkbook.
But but hey, you do you.
You want 57000 apps on your phone.
You do it, buddy.
This is why I think it’s ridiculous.
I think it’s 100% ridiculous.
I think the one checkbook, two checkbooks are relevant.
That’s why it’s my number five.
All right.
Well, not the response I thought that I’d remember from that.
That’s all right.
Number four.
My number four.
You guys are also going to hate.
I’m sure.
Awesome.
Number four is I’ve got plenty of credit.
I got plenty of credit out there.
Why would I have an emergency phone?
Like there is absolutely zero reason for an emergency phone.
OG, by the way, everybody is texting Doug right now to say, let’s run with this.
Just argue with.
I want you to text right now.
Oh, my God.
And I nearly verbatim.
I know the text isn’t coming to me.
Let’s just go.
Let me just say this.
I mean, I’m not going to answer that directly.
But look, at the end of the day, if you’ve got credit, like who actually cares how much cash you have.
Am I right, Doug?
I mean, you took the words out of my mouth.
This is really great advice, honestly.
I don’t know why Joe.
I just.
The number he caught us, Doug, the number one.
I was I was too.
I was too.
You can see my fingers moving.
It was it was so covert.
He’s sitting right across the table from me with a big smirk on his face.
Has some notes in class.
He’s completely.
He’s going to love this.
I literally wrote, we have to object to everything Joe says today.
You and me both.
The look on his face just said, I want to be an asshole.
Yes.
Let’s do this.
Play to your strengths.
The the ROI on an emergency fund is not the crappy interest rate you get.
And, you know, you can take it from one to four, whatever you want to do.
Half percent four, zero to four, whatever you want by using a high yield savings account.
Who, you know, we could even talk about that’s ridiculousness.
Right.
How much we go on and on about the high yield savings account.
But the emergency fund ROI is I’m lowering your insurance cost.
I’m lowering all of these other costs that you have in your life.
That’s the ROI, not the fact that the money sitting there earning nothing.
So emergency fund, I think.
It’s also funny the number of people that will say that and then also have 20 or 30 or 40 thousand dollars in checking, just sitting in their checking account, not in high yield savings.
It’s like pick which side of this argument you want to be on.
Go make your four percent at least.
It is good advice to have a high yield savings.
Got to keep most of your money there.
But the amount of time I see the financial media spending on this, high yield savings, high yield savings.
If it’s three point five versus three point nine, is it really that big of a difference?
No, it’s not.
If it’s sitting at point oh one and you can go get four.
Yeah, you should be doing that as much as you can.
And the more automation, the better.
The better, obviously.
And cash reserve or emergency funds is what allows you to be aggressive in other things.
It allows you to be aggressive with your investing.
It allows you to be aggressive with your interest deductibles like you mentioned.
It allows you to be aggressive with your career.
If you go, you know what, this isn’t serving me.
I want to go do something else.
It allows you to be aggressive with using your days off because all the reports say that nobody uses all their free time.
And why is that?
Because you’re worried about losing your job.
And why are you worried about losing your job?
Because you don’t have any money.
It just gives you that breath of life that you get to so much more flexibility with that emergency phone in place.
What’s your number four?
My number four today is going to be buying cheap stuff instead of quality stuff.
Oh, this one doesn’t make sense to me.
Yeah, I think we should always buy cheap stuff.
Yeah, you can’t use the same joke that I used on you.
Doesn’t work.
Nice try loser.
Yeah, nice try dork.
Always trying to find the least expensive thing instead of the best quality thing is a lot of times, and I can’t say always, that’s a tough thing to say, but a lot of times it’s going to force you to buy that lesser quality thing multiple times instead of the one good pair of shoes instead of the five bad pairs of shoes or the one good pair of jeans instead of the five bad pairs of jeans or something.
And it’s not even just the money component of it.
I think about it like the energy and time and the stress of whatever it is that you’re doing.
I think about it like the best thing that you can get is a bad idea.
I think about it like the best thing that you can get is a bad idea.
I think about it like the best thing that you can get is a bad idea.
I think about it like the best thing that you can get is a bad idea.
I think about it like the best thing that you can get is a bad idea.
I think about it like the best thing that you can get is a bad idea.
I think about it like the best thing that you can get is a bad idea.
I think about it like the best thing that you can get is a bad idea.
I think about it like the best thing that you can get is a bad idea.
I think about it like the best thing that you can get is a bad idea.
I think about it like the best thing that you can get is a bad idea.
I mean, how many trips to Home Depot do you need to get all the tools versus having somebody come out?
Now, there is a spot where you got to be somewhat smart about this.
Our refrigerator has water, you know, like many of them do, you know, but it’s been making a lot of weird noise lately.
Alyssa called the refrigerator guy and he goes, look, it’s 150 bucks for me to come out there just to look at it.
Have you changed the filter recently?
And she’s like, I wouldn’t know the answer to that.
And he’s like, just before I go all the way out there, before you just why don’t you try to DIY that one?
Just put a new filter in and, you know, see if you still need me to come out.
There’s a limit to this, but we’re in the midst of staining our fence.
Like that’s a project that we have going on in our house.
I priced it out and I had somebody come out and quote it.
I had another person come out and quote it.
And it probably after all the stuff and energy, you know, excluding the energy cost of me doing it, but the stuff is probably cost me 500 bucks for the labor versus me doing it myself and having five hundred dollars to play with to go to Home Depot to buy a sprayer to get to make sure I don’t spray my windows and it’s too wind.
You know, I don’t know the rule like how to power wash it without ruining it.
All that stuff for 500 bucks.
I have somebody else do it.
Yeah.
You have children, right?
I mean, what’s the what’s the point of having them, if not for staying in your fence?
Mark Twain wrote about because they will spray stain everywhere and it will go on my car and it will go in the neighbor’s pool on the cat.
It’ll be a mess.
So DIY stuff.
OK, to a limit.
But I think DIY and everything is a terrible idea.
I think the idea of DIY starts as to start from two places.
Number one is do I actually have the cash to even do the ROI thing?
Because there was a day early in my journey when I just didn’t have any money.
And you know what?
I was going to have to DIY it or wasn’t getting done.
Right.
I couldn’t make that decision.
So I had to do it now once you get past that and you can do the ROI.
I think, oh, gee, that ROI has got to start with.
Am I going to enjoy this task?
You know, because for me, I don’t know.
Enjoyment is the right word.
I’ll give you another example.
So we’ve got the fence staining project, but then we also have the Arbor where we have like a wooden Arbor over some of our backyard.
They told us they would do that also, but it would cost an extra five thousand dollars.
What?
Yeah.
To take the cover because there’s plastic cover off and replace it because it can’t take it off and put the same one back on.
They have to replace it altogether.
I’m like, hold on a second.
We’re not going to like I’m going to DIY it.
Well, I’m going to have the kids.
To your point, Doug, DIY that one.
It has nothing to do with me enjoying it.
Like I’m not going to enjoy watching them or helping them or supervising them doing it.
I just I’m just not going to replace a thing on my house that I don’t need to replace because that’s just the only offering that they have.
So I don’t know if fun has the right thing to do.
There’s some, you know, a break even.
I’m really glad you brought that enjoyment up, Joe, because I’ll tell you, there’s a lot of people listening right now who don’t have the choice right now of you know, is it worth it to me to spend that 500 bucks because they’ve got one hundred and seventy two dollars in their checking account right now.
Exactly.
It’s not even a matter of is it worth my time.
My time is more valuable than five.
It’s just not even an option.
And I was there.
I was there for a long time when the kids were young, were paying huge amounts of money out to daycare.
And we just didn’t have it.
And so I started doing a lot of this stuff on my own.
If I already had the tools or I could buy the tool for eighty nine bucks and didn’t have to pay the one hundred and fifty dollar travel charge for the guy to show up in my house.
And what I found is the more I did that, I did actually start to enjoy the sense of satisfaction of doing it myself and learning about it.
And then the next thing that happened is when those DIY opportunities came up, when my kids were like 10 to 12 and I got them involved or made them do it, they learned a ton, not only about the value of education and figuring out if you don’t like fixing this toilet, unclogging the toilet or whatever it is, then you better figure out a way that you don’t have to do that yourself and you can pay somebody else to do it.
But they just have a better appreciation for what it costs to maintain a house.
So there were a lot of benefits of that that I got by doing it myself.
Even when I did start to get the money to do it, I kept on.
You guys are texting one another going, let’s pick on.
Oh, no, what’s that?
Not at all.
Screen is blank.
There’s also in my mind, been a computation of I’m not going to want to do this all the time, Doug, to your point.
But I want to do it once so that when the person comes out here, I know at least enough about it.
Yes.
That I can speak to whatever the issue is right now enough about how that works.
So I think about ROI.
But to your point, OG, nine times out of 10, I am not going to waste my time on doing this thing, even if I could DIY it, like forget it.
I want to spend my time on stuff that either A, I enjoy B has a higher ROI.
Three is kind of my unique talent.
You know, if I could spend my time there, it’s going to be a better use.
My number three is is one that I don’t hear as much anymore.
I used to hear it a lot, but it’s still out there.
I heard it just a few weeks ago.
Somebody was told by a welcoming relative, they’re shopping for a house by the biggest house you can afford by the biggest house you can possibly afford.
And I think what dangerous, horrible advice.
Not making any more land.
Well, number one, just this idea that your house is an investment, the house you live in, you should not think of as an investment because you’re doing so many things that are counter to the ROI on this house.
The upkeep on the house, even versus a rental property is so high, is so absolutely high because you want to live in a nice place.
But then just number two, what that’s going to do to your overall budget and go back and listen to what we talked about with our headline in the second half of Monday show and everybody will hear our rants on payments, right?
You have these big payments forever.
Don’t love the idea of biggest house.
That’s my number.
Well, the interesting thing, if you march this out for a lot of people, you say, well, the payment’s three grand.
I can afford that when we talked about this yesterday or I’m sorry, on Monday.
If you think about your taxes and insurance as part of that operational cost of the house and God forbid you add just normal house maintenance to that, which, by the way, averages about one percent of the house value a year.
And you don’t think of it that much, but that’s the budgetary line item.
If you have a million dollar house, you better plan on spending on average 10 grand a year in just normal maintenance and upkeep.
And some years could be less.
That’d be great.
Some years will be more.
If you look at your taxes and insurance, add inflation to it, inflation with a kicker, because by the way, insurance and taxes don’t only increase with inflation, generally speaking.
But add inflation plus a kicker.
At the end of your 30th year, a lot of times you go, oh, my house will be paid off in 30 years.
A lot of times your payment for insurance and taxes will be the same or more than your payment was when you first started.
You know, so you started with that three thousand dollar payment over 30 years.
It rose to six thousand dollars because of the increase of taxes and insurance over that 30 year period.
And then you pay your house off and you got a three thousand dollar payment still for taxes and insurance.
So it’s not like you get this thing free and clear and you’re done with it.
And once it’s done, it’s done because they’re still going to be maintenance.
They’re still going to be upkeep.
Yeah, I don’t love the idea of buying the biggest house you can afford.
We long said on the show every mistake that you guys can talk about.
I’ve done maybe twice.
And that was that was one of the major ones that I look back on in our in our decision tree of money, like buying a big giant colonial four bedroom house because I’m not making any more land.
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