As the hosts explain, yes, it is possible to overspend on lattes or food items, but most of the time those are not the only budget killers on the planet. For Matt, blaming wasteful spending on coffee shop owners doesn’t make any sense.
“There are so many other places where folks are wasting money,” he said. “Like ridiculous car payment where you are paying for a fancy car you don’t need.”
Next, the hosts tackle side hustles like Uber and Instacart. The pair advise their listeners to be careful of predatory side hustles. Having an extra job is great, but sometimes it is not worth it.
“We are all about folks using the spare time that they’ve got to get after whatever financial that they have set for themselves,” said Joel. “The allure to immediately make some extra cash is attractive, not to mention all the apps, they are designed to keep folks coming back.”
Side hustle companies have essentially gamified their apps to make workers want to keep going, even after they are burned out. The hosts remind their listeners to keep their career goals in mind when doing these side jobs.
Listen to “Popular Money Advice That Just Ain’t Right” to hear all of the money advice Matt and Joel debunk. How to Money launches several episodes a week on the iHeartRadio app, but the financial content doesn’t stop there. Matt and Joel release extra resources for every episode, send out a weekly newsletter, and moderate a How to Money Facebook group.
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