4 ‘Common Sense’ Money Habits That Aren’t So Smart: What To Do Instead

Group 1 - Common financial advice such as "cut out lattes" and "pay off all debt ASAP" may not always lead to real financial progress [1] - Paying off a mortgage early can tie up liquidity, potentially causing cash shortages during investment opportunities or emergencies [2][3] - Maintaining a balance of debt can be beneficial; properly structured real estate lending may yield better returns despite high consumer debt levels [4][5] Group 2 - Many investors delay estate or trust planning, which can lead to significant legal expenses and delays in probate [7] - Focusing exit strategies on refinancing can be detrimental, as market changes or stricter lending criteria can hinder refinancing opportunities [9]