The Financial Diet

6 Viral Pieces Of Money Advice You Should Ignore (2021x44)

Air date: May 04, 2021

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 https://www.tiktok.com/@justhomesgroup/video/6907256262279318790?referer_url=https%3A%2F%2Fwww.vox.com%2F&referer_video_id=6907256262279318790&is_copy_url=0&is_from_webapp=v1&sender_device=pc&sender_web_id=6919527603696354822 https://www.tiktok.com/@iamcurtisray/video/6890646356289965318 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=