Let’s be real: we’ve all heard money advice that sounds wise, catchy, even empowering, until you actually try to apply it. Suddenly, that simple tip feels unrealistic, ineffective, or just plain irrelevant to your life. You’re not alone. Real-life money management isn’t one-size-fits-all. That’s why today, we’re breaking down the most common financial advice that doesn’t always work, and what to do instead.

Hi, my name is Bola Sokunbi. I’m the founder and CEO of Clever Girl Finance, and the author of the Clever Girl Finance book series. Let’s dive into the money advice that might be holding you back, and better strategies to help you move forward!

1. “Just stop buying lattes and you’ll be rich”

We’ve all heard this one before: if you’d just skip your daily coffee run, you’d have thousands of dollars in the bank by now. While this advice sounds catchy, it completely oversimplifies the reality of most people’s finances. Sure, $5 a day adds up, but most people aren’t struggling because of coffee. They’re struggling because of high housing costs, debt, childcare expenses, stagnant wages, or medical bills.

What to do instead:

Look at your big financial levers, housing, transportation, and food, as the primary areas for meaningful change. These are the categories that usually eat up the largest chunk of your budget.

Ask yourself:

• Can I renegotiate my rent or shop around for cheaper insurance?
• Am I spending too much on takeout because I’m not meal planning?
• Could I lower my car payment or refinance a loan?

Once you address the big areas, the smaller habits (like lattes) become part of a sustainable budget, not the focus of it. And if your coffee brings you joy and fits into your plan, enjoy it guilt-free.

2. “Just get a better job”

This one assumes that landing a higher-paying job is quick and easy. While yes, increasing your income is a great financial goal, it’s not always within immediate reach. Career transitions take time, effort, and access to opportunities, not to mention personal circumstances like caregiving responsibilities, lack of transportation, or discrimination in hiring.

What to do instead:
Start with what’s within reach right now. Can you pick up a freelance gig or offer a skill on the side (like tutoring, graphic design, or writing)? Can you sell something or take on a short-term project to boost your income?

Meanwhile, work on positioning yourself for better opportunities over time:

• Take a free online course or certification (many are available through sites like Coursera or LinkedIn Learning)
• Update your resume and LinkedIn profile
• Join a professional network or community in your field
• Start an informational interview series to learn from others

This layered approach to growth gives you momentum, while honoring your current realities.

3. “Don’t worry about investing; just save money”

Saving is important, but it’s not enough to build long-term wealth. When people say, “just save,” they often mean well. But without investing, your savings are slowly eroded by inflation. A savings account helps you build security, but investments help you build wealth.

What to do instead:
Yes, your emergency fund should come first. But once you have a cushion, start investing, even if it’s just $25 a month. You don’t need to be an expert. Focus on learning the basics of:

There are plenty of free resources out there, including our free Clever Girl Finance courses, to help you get started.

Investing doesn’t have to be complicated. It just has to be consistent.

4. “Cut out everything non-essential”

This kind of advice leads to burnout fast. Telling people to cut all joy and pleasure out of their budget might work temporarily, but it often backfires. You feel deprived, rebel against the strict rules, and end up spending impulsively anyway.

What to do instead:
Create a sustainable, balanced budget that includes fun and flexibility. Build in “guilt-free” spending money each month, whether it’s $20 or $200, depending on your income. This helps reduce impulse buys and gives you something to enjoy while staying financially responsible.

Ask yourself:

• Where can I cut back without resenting it?
• What’s one area I refuse to deprive myself in, and how can I make space for it intentionally?

Remember, you’re creating a money plan for your real life, not a fantasy version where nothing ever goes wrong or feels hard. Flexibility is part of what makes it work.

5. “You should have it all figured out by now”

This line is loaded with shame. It implies that if you haven’t reached certain milestones by a certain age, you’ve failed. But life doesn’t follow a straight timeline, and neither does your financial journey.

Some people start over in their 30s or 50s. Others didn’t grow up with access to financial education or inherited wealth. And many are navigating real obstacles like layoffs, caregiving, debt, or illness.

What to do instead:
Focus on your starting point, not someone else’s highlight reel. You can’t go back and change when you began, but you can absolutely change where you’re headed.

Start by asking:

• What are my top 3 money goals over the next 12 months?
• What’s one small habit I can start this week to support those goals?
• Who or what can I turn to for support and education?

Give yourself grace. Progress is what matters, not perfection.

6. “Don’t talk about money, it’s rude”

This outdated belief keeps people underpaid, under-informed, and overwhelmed. When we don’t talk about money, we don’t learn how to manage it, negotiate it, or grow it.

Money is part of almost every decision we make, where we live, what we eat, how we care for ourselves, how we raise our kids. Keeping it a taboo topic only reinforces inequality and confusion.

What to do instead:
Start small. Talk to a trusted friend about how you’re budgeting. Ask your HR team to explain your 401(k). Share a financial podcast episode with your group chat. Teach your kids or siblings what you’re learning.

At Clever Girl Finance, we believe that normalizing money conversations is a form of empowerment. When you speak up, you not only grow, you help others grow too.

Expert tip: The best money advice is the kind that honors your reality

The best money advice is the kind that honors your reality, not just your goals. If something feels off or unrealistic, trust that instinct. You don’t have to follow popular advice to be successful. You just have to build a plan that’s true to you, and stick with it.”

Frequently asked questions about money advice that doesn’t work

Here are the most common questions as it relates to the topic of financial advice.

What should I do when common money advice doesn’t work for me?

If a piece of financial advice doesn’t fit your life, it’s okay to let it go. Personal finance is exactly that, personal. Focus on strategies that match your current income, goals, and values. There’s no shame in adapting the rules to your reality.

Is it okay to spend money on small luxuries like coffee or streaming services?

Yes, small purchases are not the enemy of wealth. What matters more is your overall spending and saving habits. If your budget includes your goals and you’re making progress, enjoying little luxuries is perfectly fine. It’s about balance, not restriction.

How do I build wealth if I can’t get a higher-paying job right now?

Start by maximizing what you do have. Reduce expenses where you can, increase your financial literacy, and look for ways to grow your income gradually through side hustles or passive income. You don’t need a six-figure salary to build wealth, you need consistency and a solid plan.

What’s the most important money habit to build?

The most powerful habit is consistency. Whether it’s saving, budgeting, investing, or learning, doing a little bit regularly will always beat doing a lot once. Focus on building steady financial habits, and the results will follow.

Choose advice that fits your real life!

The next time you hear money advice that feels off, pause. Ask yourself: Does this fit my life? Does it align with my goals and values? If not, it’s okay to leave it behind.

Financial success isn’t about following every rule perfectly. It’s about finding what works for you, and doing it consistently.

You don’t need perfect advice. You need relevant advice. And the best way to find it is by staying curious, staying honest, and staying true to your journey.