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People say these 20 outdated financial myths could be hurting you in today's economy

"'That commodity prices, like gas and eggs, are controlled by the president.' False."

inflation, economy, finance

Credit is still wildly misunderstood.

The economy has changed a lot since we all took our high school Economics class. And it is certainly miles away from what our parents grew up with. And yet, many still hold on to certain money beliefs that come from these bygone eras. Or frankly, ones that never had a right to exist in the first place.

And honestly, there’s so much conflicting information out there (about all things, really, but we’ll stick to finances for the sake of the conversation) that it’s no wonder that so many people might just stick with what they know, even if certain money truisms aren’t all that true, and even they aren’t actually helping.

Recently, someone flat out asked, “What’s the biggest financial myth people still believe that’s actually hurting them in today’s economy?" Below are some of the most illuminating answers.

Right off the bat, we have some politically fueled myths to debunk:

1. "'That commodity prices, like gas and eggs, are controlled by the president.' False. They're actually priced on a trade market, bought and sold, with production controlled by large corporations."

2. "That immigrants are taking our jobs! Like seriously. If every immigrant, legal or otherwise, disappeared tomorrow, it wouldn't do a single positive thing for me personally, much less the broader economy."

"People are so ignorant about this. The trades would be hurting horribly if this happened,” one person replied.

Next up were long running myths that were also deeply entwined with our collective relationship to hustle culture.

Photo credit: Canva

3. "That hard work will lead to wealth. This simply is not correct for the vast majority of workers (read: anyone not C-level). The truth is that the US is a shareholder economy, not a labor economy. This means that even if someone is getting regular raises, they're likely barely keeping ahead of inflation."

4. "That your employer will be there for you when times are bad. Build and keep a savings. You are a liability to them, not an asset, and will ditch you the moment they can profit from it."

"^This. Always remember this,” someone replied. “You are a cog in the machine and if they can find a cheaper cog, they will. Oh, and HR is not your friend.”

Then there were the strategies many people implement in hopes to save money, which actually end up costing them in the long run, whether that’s with groceries or with housing.

Photo credit: Canva

5. "Dollar stores are generally a worse food value based on size/quantity. Sure, it's $1, but the $2.25 box at the grocery store has 500% more food by weight, therefore, is a much better value. You're paying a little less to get a lot less."

"If anyone didn't know, US grocery stores almost always put a price per unit on the price sticker (i.e., $1.23/lb or $0.0865/oz). You should be looking at these when comparing prices for exactly this reason," one person wrote.

6. "That cheapening out on your laundry doesn't impact your clothes' lifetime. You can vastly improve the life and sustained quality of your clothes by not throwing everything in the wash together. Also, most better quality laundry detergents need less to clean better, so spending a little more on a decent brand will give you better returns. I have also found they wash out better, too."

7. "'Paying rent is like throwing your money away.' The truth is renting is a better financial move than buying in a lot of markets where home prices are too high."

And yet, certain things that could definitely add value…people are afraid of, it seems.

Photo credit: Canva

8. "Not investing back into yourself. Investing doesn't always have to be some major cash return. It could be education, making your life easier so you have more time and energy, or simply relaxing. I know a lot of people who played the frugal game and are just now getting out in their 70s."

To this, someone replied, "I tell people that one of the best investments you can make early on in life is a top-tier mattress and office chair. The amount of money you'll save yourself on future medical bills is one of the best returns on investment you'll make in your life."

9. "'The stock market is just like gambling.' You are never going to accumulate enough money to retire without using the stock market. The market has always gone up in the long term. If it stops going up in the long term, society will be in pretty bad shape, and your money probably wouldn’t be worth anything anyway."

"'Time in the market beats timing the market.' The stock market can be gambling if you're into day trading and trying to achieve short-term gains. But if you're investing long term, then yes, it's a great tool for growing your wealth."

By and large, people seemed to think taxes were an elusive subject to most folks. And probably rightfully so. Along with credit cards, do any of us really ever get a basic education on this unless we actively seek it out?

Photo credit: Canva

10. "Turning down raises because 'it means a giant jump in my taxes.'"

"11. Understanding tax brackets (in the US) in general. Can't tell you how many times I heard mention that their raise/overtime/bonus will just be eaten up by taxes.Fine, I'll take your raise and pay the taxes. No one ever went broke paying taxes."

12. "People do not realize that a tax refund is their money to begin with and that they should have their deductions set up to break even or owe a little. A lot of people still think it's some kind of stimulus."

13. "That tax breaks for the wealthy will allow some of their wealth to 'trickle down' to us poors. Something is trickling down on us, but it's not money."

Speaking of credit cards, that was also a popular topic in the responses.

Photo credit: Canva

14. "Keeping a balance on your credit card DOES NOT improve your credit score. What it does do is get you comfortable having a balance on your credit card, which, when it likely gets out of control, is like napalm pouring down on your future financial hopes and dreams."

15. "Credit cards are great, but under no circumstance should you ever pay a penny of interest on your credit card. You absolutely need to pay off your entire credit card balance at the end of each month. Credit card debt is the last thing you want to have due to the ridiculous interest rates they charge."

16. "Credit cards are bad. If you use them right, you can actually come out ahead. Get a card with good cash-back rewards and use it for everything. I mean everything. If you can pay your rent, bills, and insurance with it, do it. If you can use it for work and they reimburse you, do it. Pay the balance off at the end of every month, and make sure you keep track of your ins and outs. It requires you to be responsible, but it's worth it."

There was also a lot of talk about how our mainstream views on success in general (what it looks like, how to actually achieve it, etc) are inherited myths.

Photo credit: Canva

17. "That you have the smallest of chances of becoming a billionaire. People don't understand the orders of magnitude difference between even a low-level multi-millionaire and a billionaire. At 100 million dollars, you're still 10 times closer to homelessness than you are to becoming a billionaire. Stop trying to get there. Stop voting for people and policies that promise you that opportunity. The only way these people achieve that wealth is through siphoning it away from everyone else."

"My wildly successful uncle came from true poverty and he's worth about $50 million. If you look at what it takes to get even there, it looks BARELY possible at best. He worked his ass off from his early teens, he's incredibly smart, he's incredibly good with money, AND he was lucky, and he's still only 5% of the way to a billion after a lifetime of work,"one person replied.

"18. That you need to spend big to look successful."

19. "That you deserve something you can’t afford because you work hard. Deserves has nothing to do with it."

Lastly, we have the myth of the savings account. More specifically, the myth of how helpful it really is.

20. "Just save money.' No. You need to do more. Most savings are not beating inflation. As a result your money is shrinking by doing that. One of the most insidious ways our money is effectively being stolen is just by having inflation make it worthless by the time you'll go to use it.The easiest thing I am aware of is to put it in an index fund that automatically reinvests. These are automatic funds that follow a set algorithm of stocks (an index) and do not have a human element in the decision making. They regularly outperform professionals. They typically do very well compared to inflation, and require zero maintenance."

All illustrations are provided by Soosh and used with permission.

It's hard to truly describe the amazing bond between dads and their daughters.

Being a dad is an amazing job no matter the gender of the tiny humans we're raising. But there's something unique about the bond between fathers and daughters. Most dads know what it's like to struggle with braiding hair, but we also know that bonding time provides immense value to our daughters. In fact, studies have shown that women with actively involved fathers are more confident and more successful in school and business.

You know how a picture is worth a thousand words? I'll just let these images sum up the daddy-daughter bond.

A 37-year-old Ukrainian artist affectionately known as Soosh, recently created some ridiculously heartwarming illustrations of the bond between a dad and his daughter, and put them on her Instagram feed. Sadly, her father wasn't involved in her life when she was a kid. But she wants to be sure her 9-year-old son doesn't follow in those footsteps.

"Part of the education for my kiddo who I want to grow up to be a good man is to understand what it's like to be one," Soosh told Upworthy.

There are so many different ways that fathers demonstrate their love for their little girls, and Soosh pretty much nails all of them.

Get ready to run the full gamut of the feels.

1. Dads can do it all. Including hair.

parenting, dads, daughters, fathers, art, artworkA father does his daughter's hairAll illustrations are provided by Soosh and used with permission.

2. They also make pretty great game opponents.



parenting, dads, daughters, fathers, art, artwork, chessA father plays chess with his daughterAll illustrations are provided by Soosh and used with permission.

3. And the Hula-Hoop skills? Legendary.



parenting, dads, daughters, fathers, art, artwork, hula hoopA dad hula hoops with his daughterAll illustrations are provided by Soosh and used with permission.

4. Dads know there's always time for a tea party regardless of the mountain of work in front of them.



A dad talks to his daughter while working at his deskAll illustrations are provided by Soosh and used with permission.


5. And their puppeteer skills totally belong on Broadway.



A dad performs a puppet show for his daughterAll illustrations are provided by Soosh and used with permission.


6. Dads help us see the world from different views.



A dad walks with his daughter on his backAll illustrations are provided by Soosh and used with permission.


7. So much so that we never want them to leave.



a dad carries a suitcase that his daughter holds ontoAll illustrations are provided by Soosh and used with permission.


8. They can make us feel protected, valued, and loved.



A dad holds his sleeping daughterAll illustrations are provided by Soosh and used with permission.


9. Especially when there are monsters hiding in places they shouldn't.



A superhero dad looks over his daughterAll illustrations are provided by Soosh and used with permission.


10. Seeing the daddy-daughter bond as art perfectly shows how beautiful fatherhood can be.



A dad takes the small corner of the bed with his dauthterAll illustrations are provided by Soosh and used with permission.


This article originally appeared nine years ago.

People share things they're happy they splurged on.

"You get what you pay for" may be a popular saying, but it's not always true. Sometimes a bargain-priced item turns out to be a quality purchase and sometimes supposedly "high end" items turn out to be no better than their cheaper equivalents. Figuring out what's worth paying extra money for and what's not is an ongoing dilemma in this age of having everything under the sun available at our fingertips.

However, some people feel strongly about certain items being 100% worth every penny, even when they cost a whole lot of pennies. So, when someone asked, "What's a stupidly expensive adult purchase that you now swear by that you would buy again in a heartbeat?" thousands of people weighed in with their favorite splurges, from the practical to the sentimental.

Here are some of the top responses people agreed were worth spending a little extra of their hard-earned money on.

socks, expensive socks, darn tough socks, cozy, clothingIf you think socks are socks, think again.Photo credit: Canva

$20-$30 socks

"I paid 80 dollars for three pairs of socks because I didn't look at the price. I just comfortably assumed I could happily afford it. That was about 6 years ago and I've just had to get rid of the first pair. Worth every penny. (Big thick merino wool ones that I wear with my work boots.)"

"I never realized how much difference there is between average socks and good socks until I discovered Darn Tough. $25+ is a lot of money for a pair of socks, and they're worth every penny. The unconditional lifetime warranty seals the deal for me. I realize this sounds like I'm trying to sell some socks, but I'm really not."

"If the word socks is ever uttered around my mother she WILL proceed to give the full sales pitch for darn tough socks and their lifetime warranty. I have these socks. I am still informed of the warranty at least 2-3 times a year by her."

"My dad was a mail carrier and would buy these special socks from their supplier. I swear the bottoms were almost an inch thick. They felt like wearing slippers and were so soft. He swore they were like 20 bucks a pair, which was crazy in the early 2000’s. He bought me a few pairs one year and I wore them for like 5 years and was devastated when they eventually ripped or got lost."


mattress, good mattress, good night's sleep, quality bed. restYou spend a third of your life on a mattress, so you want it to be a good one.Photo credit: Canva

A good mattress

"A high-end mattress Like, borderline 'do I need to finance this?' expensive. I used to think any mattress would do, but once I got one that actually supported my back and kept me cool at night? Life changing. I sleep like a pampered cat now. No regrets."

"Yes!!! In 2012, I bought a Stearns & Foster mattress set that I could barely pay for. I think it ran me around $1200? And it still feels wonderful 13 years later. It also has a 25-year warranty."

"As someone about to replace their mattress, this is a sign from the universe to splurge. There’s the old saying: spend money on the things between you and the ground (mattress, shoes, etc)."

"For folks that want this kind luxury: The Kirkland Signature mattresses at Costco are made by Stearns and Foster and they usually go on sale around once per year. Got a queen in 2024 for ~925 bucks."

bra, expensive bra, bra fitting, getting a bra that fits, bra sizeA good quality bra that fits is priceless.Photo credit: Canva

A decent bra (that fits well)

"As a woman, decent bras. The outlay is painful up front but the whole point is, nothing afterwards is. No digging in. No weird cup spills. No loosening throughout the day until it's pointless. No exposed wires after a week. No torn hooks after a couple of washes. Buy a good bra. You deserve it. Your girls deserve it. Your back deserves it."

"I used to go to a place that went as far as tailoring your bras. They closed. All the bra shops closed. The knowledge of fitting bras is disappearing. It is Very sad for all of our breasts. If you get the right fit you feel like you're not wearing anything."

"Good bras are sooooo worth it. Changing from an ill-fitting bra to a properly-fitted one makes most women look like they lost 10-20 pounds!

My favorite gift for a new college grad, a special birthday, to celebrate a new job or a divorce is a trip to Nordstrom (or a specialty lingerie store) for a fitting. I buy them at least 2 perfectly fitted bras.

"Before the Nordstrom visit, many friends poo-poo the idea as unnecessary saying ' my bras are fine.' But as soon as they're wearing the new bras regularly, they can't believe how much [more] comfortable they are, and how many people comment, asking them if they lost weight."

"I’m a horticulturalist, so I bend and move a lot for work. I finally ditched my old Target bras that were loose and itchy. I splurged on bras made for gardeners from Duluth Trading, and oh my lord, why didn’t I do that sooner!"

professional movers, moving, hiring movers, bras, good brasProfessional movers make moving so much less stressful, physically and mentally.Photo credit: Canva

Professional movers

"Professional movers. Greatest luxury item I’ve ever spent money on."

"I moved for work a few times and the company would come to my house and pack everything up. They would individually wrap every plate and cup, it was crazy."

"Even just having plenty of energy to direct what rooms to put boxes in, being able to unpack essentials as all your stuff is brought in is worth its weight in gold."

"Yes! We packed, but paid for movers. Planning on doing it again next time cause that was so freaking worth it! We moved to another apartment in the same city so it wasn’t a long trip, but even still they had that entire apartment packed, moved and unloaded in like 7 hours with an hour lunch break so really done in 6 hr. It would have taken me and my husband probably 6 hours to just move the sectional, some shelving & the washer and dryer."

cleaners, professional cleaning services, house cleaners, splurges, worth itCleaners save time, stress, and sometimes even relationships.Photo credit: Canva

Cleaning services

"Monthly cleaning service!!!! Best non-required use of my money to date."

"Same here! I do bi-monthly. I was killing myself working 9+ hour days and trying to keep a clean house. I haven’t cleaned a bathroom since."

"I didn’t realise the mental load that cleaning carried or the weight of resentment for having to do it until I outsourced it. Best decision I’ve made in a long time."

"Yard service for me. Instead of a couple sweaty hours followed by a couple days of bad allergies, I now send a couple texts, transfer some money, and it's done."

cat, pet, vet, vet bills, veterinarianVet bills can be painful, but are 100% worth it.Photo credit: Canva

Vet bills

"The vet bill for my rescue cat's teeth removal. $5,000 all told. Ended the agony of stomatitis and saved his life. That was about 7 years ago and he's sitting on my lap right now. 🥰"

"$750 for anti-venom in 2007. She finally passed in 2019. I was a teenager when I foot that bill, it was everything I'd saved. Never regretted it for a second."

"I had a cat with a dead kidney and paid around $7k throughout her extremely short life because of her congenital kidney disease. She passed at 19 months after her dead kidney was removed and the remaining kidney started failing. It took all of the money I had left from my divorce and was saving, plus any other savings I had, and I still had to put some on credit.

I would do it again to get those extra months with her when she was feeling really good. I don’t think she had actually ever felt good before her nephrectomy. I love her and she saved my life, so I did what I could for her."

"We spent about $900 for an at-home euthanasia for our cat. We didn’t want him to be stressed out and scared in his last moments. 1000% worth it. This was after spending about $9k trying to save his life. Kidney disease/cancer can just f__k right off."

"Ours was $350 when we REALLY couldn’t afford it. Never again any other way. I love the idea of the lighting of the candle in the vet’s office for those in need, but home is the way to go."

@cosmo_andtheoddparents/TikTok

He wuvs his vet.

Not every dog might jump with joy after seeing their vet out in public. But for Cosmo the Golden Retriever, it was practically Christmas all over again when he spotted his own vet, Dr. Jones, at a brewery.

In an adorable clip posted to TikTok, we see Cosmo in pure, unadulterated bliss as he snuggles with an equally happy Dr. Jones, who, considering he’s still in his scrubs, might have just gotten out of work to grab a quick pint.

Watch:

Ugh, the cuteness is too much to handle! People in the comments could barely contain their secondhand joy.

“He looked over like, “Mom, do you see who this is?” one person wrote, while another said, “What in the Hallmark movie? Adorable!!”

One person even joked, “Did we all check the vet’s hand for a wedding ring? (Said as a married woman. Looking out for you all, or something.)”

According to Hannah Dweikat, Cosmo’s owner, the two actually share quite a history. She tells Upworthy that when Cosmo was but a wee pup, he “gave a scare” after eating a Sago Palm seed, which are highly toxic to dogs, from a plant in their backyard, which of course resulted in him being rushed to the animal hospital and staying there over the weekend.

While that’s every pet owner’s worst nightmare, and certainly a scary situation for the poor fur baby, Dweikat says that “the calm and patient demeanor” of Dr. Jones and his staff put Cosmo at ease. And because of this, “Cosmo has always loved going to see his friends—especially because they give him lots of treats and snuggles.”

Cosmo and Dr. Jones’ buddyship has also blossomed thanks to proximity, as Dweikat only lives down the street from the clinic. “Which means we get to see Dr. Jones and his staff out in public at times and Cosmo takes every chance he can get to say hi,” she explains. This time, however, she was able to capture it all on video. Yay for us!

What makes a good vet?

While not every vet, however gifted, will be able to elicit this type of reaction from their patients, having a calming presence like Dr. Jones is certainly a good sign for pet owners to be on the lookout for when shopping around for their own vet. But that’s not the only quality a good vet needs. According to Saint Matthews University, a vet also needs to have high stamina (both physically and mentally), as well as an ability to tolerate unpleasant situations (you can’t faint at the sight of blood or vomit), a high level of emotional intelligence (maybe all doctors should possess this skill, but especially those who work with animals), adaptability, a sense of enthusiasm, and finally, excellent communication skills.

Dr. Jones seems to have these attributes in spades, and his patients clearly love him for it. None so much as Cosmo, obviously.

By the way, if you’re in need of even more content featuring this precious pup, you can follow Cosmo on both TikTok and Instagram.

This article originally appeared in February

Image via Canva

Neighborhood spends a Sunday evening together gathered and creating community.

Growing up in a connected neighborhood can, arguably, create the best childhood. Core memories and a sense of community are created through neighborhood kids riding bikes, playing games in the cul-de-sac, spending time together in backyards, and having porch chats with parents. These days, neighborhoods like that are becoming a rarity.

But TikTokers The Butan Fam (@thebutanfam), a family of 5 living in Southern Florida, shared a sentimental video of their neighborhood getting together on a Sunday to have dinner together on their street. Its wholesome, "gold old days" vibe has viewers reminiscing about their childhood neighborhoods.

"POV: You won the neighborhood lottery. This is just a random Sunday on our street," she captioned the video. Set to "The Sound of Peace" by Damluhe, the camera pans to her street at dusk, revealing an idyllic scene of community.

@thebutanfam

We decided to have dinner together. #Neighborhood #bestneighbors #lifeinthesuburbs #SuburbanLiving

In the caption, she wrote, "We decided to have dinner together." The entire neighborhood came out to spend time together on a lovely Sunday night. Dads and moms are gathered together in a group talking, while one dad and his kids are shooting hoops. The camera pans to a group of kids sitting on the sidewalk together painting on canvases.

Essentially, everything seems right in the world. Families are together and socializing with their neighbors in a safe setting, and viewers are loving how connected and present everyone is.

@thebutanfam

Stay at home mom Chronicles! #lifeonarandomtuesday life on a random Wednesday. #Life. #StayAtHomeMom.

One viewer commented, "You got that 2003 type neighborhood."

Another added, "Now THIS is COMMUNITY. The America we all want."

Another wrote, "I grew up in a neighborhood like this. Kids all hung out, parents got a long, one of the best times of my life."

In another comment, a viewer added, "You guys are RICH rich. Community is amazing 😭", and The Butan Fam replied, "Yes we are! The things money can’t buy!"

One person noted that with so many envious people, the same sense of community can be found if you initiate it. "For everyone watching this wishing it could be you… you could be the first villager. The first to host a barbecue. The first to put the basketball net in the street. We need to be individually responsible for creating community," they wrote.

Kids playing, neighborhood, community, village, neighbors Happy Music Video GIF by Chrissy MetzGiphy

Others noted, ""It takes a village. This is wonderful." Another recalled how they miss this sense of community that they had in their childhood. "This reminds me of growing up in the 80s. I felt so free to go outside and just enjoy the day. Now in my 50s I don't really go out like that anymore. It feels like people are much more guarded and definitely less friendly. I miss the simpler days," one wrote.

In an Instagram response post, The Butan Fam shared, "Never in a million years did I think my last video would go mega viral (14 million views on TikTok 😱). I was just soaking in the moment in my neighborhood and decided to share it with you all. Thank you so much for the love," they wrote. "No, it’s not AI and no, I won’t be sharing my exact location. I have to keep myself safe lol. But I do want to say this. Florida is an incredible state. I’ve lived all over South Florida. I was born and raised in Fort Lauderdale and have lived in so many different cities across the state, including just 30 minutes from Orlando."

Unhoused people and pets deserve help.

There's nothing like our furry friends to bring out the best in us, and in a world where we sometimes need a little extra kindness, a stranger can remind us that we're all in this together. A few months ago, BBC News posted a story about the Bath Cats and Dogs vet clinic in the UK who give free medical care to the pets of "homeless and vulnerable people."

dog, pets, unhoused pets, homeless people, street vetMany pets on the street belong to unhoused people. Photo by Photographer Frederik Trovatten on Unsplash

It's part of their "Together Project" initiative, whose goal is to keep pets with their owners no matter what the circumstance. Veterinary surgeon Nicola Chouler explains, "These animals are so well cared for and they're with their owners constantly and are arguably better cared for than some housed animals."

These veterinary services actually exist around the world. One of them is Project Street Vet, which was inspired by the work of Dr. Kwane Stewart. Their website explains that for years, Dr. Stewart has "provided direct vet-to-pet services by walking city streets to identify individuals experiencing homelessness with pets. Once identified, free exams, vaccines, flea meds, supplies, and more are offered by our volunteer veterinary teams and information is gathered for follow-ups and additional care."

Dr. Stewart won the Elevate Prize in and was CNN's Hero of the Year the year in 2023. His mission is very clear: "No judgment, just help."

The success stories are incredibly moving. One of them is Mike, a San Diego man who has a pet Dachshund he named Crazy Girl. From their success story page: "Mike had been experiencing homelessness for nearly two years, living in a tent along the beach while battling colon cancer. When Dr. Kwane approached Mike, he was so excited to talk about his little girl and told us more about their story."

After the team checked her out, it was determined she had a birth defect which caused her to lose her sight. But, "Project Street Vet was able to get her the right medication she needed to stay comfortable and provide Mike with peace of mind."

Here, an unhoused woman shares that her cat "saved her," not the other way around. "I thought I was just going to give up. And if it wasn't for her, I might have."

- YouTubewww.youtube.com

The Project Street Vet's Instagram page is full of love and support. One video introduces us to a woman and her dog, Tootsie Ann, both who live in a tent on the streets. When asked if her sweet pup is helping with mental health, she says, "Yes, it's me and Tootsie against the world. She gave me my joy back."

The comment section truly relates. One person writes, "I’m not trying to be dramatic or anything but Tootsie Ann’s love could literally save the world." Another points out, "She got a whole middle name! You know that baby is loved!"

Many have so much gratitude for this service. "Thank you for your kindness and compassion to people and their furbabies... shows there are good people in the world."