Controversial personal finance opinions

bambilegs

What is a popular belief about something in personal finance that you actually disagree with? What are your controversial personal finance opinions?

eskbanker

bambilegs wrote: »

What is a popular belief about something in personal finance that you actually disagree with?

The belief that First Direct is a fantastic and unique bank.

The belief that regular savers only pay half the published interest rate.

The belief that shoving money into an ISA for the last few days or weeks of the tax year would miraculously result in a full year's interest being paid.

The belief that some well-publicised banking scandals over the past decade or more signify that the entire industry is exclusively populated by greedy and corrupt crooks and that in turn this justifies blatant attempts to defraud banks on the apparent basis of 'two wrongs make a right'.

bambilegs wrote: »

What are your controversial personal finance opinions?

Let's see if anyone feels the above worthy of debate....

Alexland

bambilegs wrote: »

What are your controversial personal finance opinions?

I believe most employees working in the bank vault are imprisoned children. Everyone seems to accept this as it gets zero newspaper coverage. When they get older there will be compensation paid following group litigation. This post might get removed as people can't handle the truth.

eskbanker wrote: »

Let's see if anyone feels the above worthy of debate....

On the internet there's always someone willing to sink lower.

Alex

ColdIron

Heya. Why do you post inane questions but never respond to the threads that you start? What happened to Sweetcake? User now archived

Dean000000

My unpopular opinion is that;

if a lender is generous enough to lend you a sum of money - you should always pay it back....

Claims of ‘irresponsible lending’ ‘mis-selling’ or bankruptcy (as an easier option) should never be condoned, supported or assisted in anyway way....

I’m a Lannister like that....

Reed_Richards

My controversial opinion is that you should not hold multiple current accounts just to take advantage of regular saver deals. If you want the banks to play fair with you then you should play fair with them.

mollycat

My controversial opinion was that "Wonga" was actually fine.....people not understanding how it should be used was the problem. (Personal responsibility and all that).

After much hand wringing by the nanny state, these people were protected from themselves by the do gooders and are now presumably doing without when they find themselves short a few days before pay day.

verybigchris

Same question was asked on reddit yesterday:
https://www.reddit.com/r/UKPersonalFinance/comments/b3fgtm/what_is_one_commonlyheld_belief_about_something/

Zanderman

ColdIron wrote: »

Heya. Why do you post inane questions but never respond to the threads that you start? What happened to Sweetcake? User now archived

Heya! Perhaps sweetcake got eaten by bambi?

keyboardworrier

verybigchris wrote: »

Same question was asked on reddit yesterday:
https://www.reddit.com/r/UKPersonalFinance/comments/b3fgtm/what_is_one_commonlyheld_belief_about_something/

That's funny, SweetCakes also posted the same questions on Reddit!


People on MSE are very generous in giving up information to someone who seems to be mining for info (Perhaps for a survey?)

londoninvestor

keyboardworrier wrote: »

People on MSE are very generous in giving up information to someone who seems to be mining for info (Perhaps for a survey?)

Call me cynical, but I wonder if choice quotes from here and Reddit will end up being used unattributed in a pop-finance article somewhere...