Old-School Money Advice You Shouldn’t Follow Anymore
These old-school rules could hurt you financially.
By Valencia Higuera December 10, 2020
If you don’t know much about money, you don’t have to look far for advice. You can always learn from personal finance articles, books and videos or from money-savvy friends and family. Although there’s no short supply of guidance, money rules can shift over time. For that matter, some old-school advice should be taken with a grain of salt. Here’s what the experts said is some of the worst money advice.
Pay Off Your Mortgage Early
Most people need a mortgage to purchase a home. However, financing a house entails paying thousands of dollars in interest. To reduce interest charges, some borrowers come up with a plan to pay off their mortgages early by making extra payments. This advice isn’t bad in itself, but according to Paul Moyer, the founder of SavingFreak.com, this advice doesn’t make the same financial sense in our current low-interest environment as it did when mortgage rates were higher, like 6% to 8%.
“Those extra payments can do more work for you by being placed in other investments,” Moyer said. “Even if you only get 6% over the life of the investment, you will beat the interest you are paying on your home mortgage.”
You Can Buy a House You Can’t Afford — Just Get Roommates
Taking in a roommate or two can be a financially savvy way to save money, but never purchase a home if you can’t afford to make the mortgage payments yourself. Roommates come and go, so you can’t rely on them to pay off your home loan. And defaulting on a mortgage will ruin your credit and could result in foreclosure, making it hard for you to take out loans and buy another home in the future.
Prioritize Saving For Your Child’s Education
Some parents believe it’s their responsibility to pay for their child’s college education. The problem, however, is that some people save for their child’s college education at the expense of saving for their retirement. Rather than sock all your money away for college tuition, David Walters, a certified financial planner with Palisades Hudson Financial Group, encouraged prioritizing retirement.
“I often need to remind (parents) that you can finance your child’s education with college loans and other funding sources, but you can’t finance your retirement, so a balance is needed,” said Walters. “This is even more important for parents with children at or close to college age, as their time horizon for retirement is much shorter.”
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Central Banks Buy Gold at Fastest Pace Since 2024, WGC Says
Jack Ryan Tue, November 3, 2026
(Bloomberg) -- Central banks bought gold at the fastest pace since the end of 2024 in the third quarter, even as the metal faced pressure from higher oil prices and interest rates.
The institutions accumulated a net 321 tons in the three months through September, the World Gold Council said in a report on Tuesday. After a slow start to 2026, that brought the estimate for year-to-date buying to 675 tons, slightly ahead of the same period a year earlier.
How Wall Street Analysts Think The Midterms Could Affect The Stock Market
By Mary Cunningham November 3, 2026 CBS News
The midterm elections could reshape Congress as lawmakers grapple with persistent inflation, high energy prices and rising fiscal debt. For investors, by contrast, the political outcome could deliver a boost.
Data from financial firm Edward Jones shows that the S&P 500 stock index rose an average of 1.7% in the month after the last 14 midterm races, dating back to 1970. In the six months following midterm elections, S&P returns averaged 15.5%.
KTFA
Tuesday Night Video
FRANK26…11-3-26….THE 7th
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
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Stern Drew: Warren Buffet Warns that the US Dollar is on the Brink of Collapse
11-3-2026
WARREN BUFFET WARNS THAT THE US DOLLAR IS ON THE BRINK OF TOTAL COLLAPSE
He’s sitting on a record $380 BILLION IN CASH, not investing a single dollar because he says the stock market has turned into a CHURCH WITH A CASINO ATTACHED and he no longer understands what’s happening.
“I understand fewer of the businesses as a percentage of the whole than I did 10 years ago.”
Oil Rebounds After Reported US Strike On Qeshm
2026-11-03 Shafaq News Oil prices edged up on Tuesday after a report that the United States had struck Iran's Qeshm Island, raising concerns about an escalation of the eight-month conflict and prolonged disruptions to Middle East oil supplies.
US West Texas Intermediate crude was up 20 cents, or 0.21%, at $96.66 a barrel while Brent crude futures rose 3 cents, or 0.03%, to $104.8 a barrel by 0355 GMT.
Good Afternoon Dinar Recaps,
GLOBAL TECHNOLOGY RESET WATCH: CHINA WARNS AI INVESTMENT BOOM IS BECOMING TOO CONCENTRATED
China’s financial regulator warns that the rapid flow of capital into artificial intelligence could increase financial risks while making it harder for traditional industries to obtain the funding they need to grow.
TNT:
Tishwash: International Trade Centre: Iraq is qualified to become a regional hub for trade and investment.
The Executive Director of the International Trade Centre, Pamela Cooke Hamilton, confirmed that the Iraqi government is committed to accelerating the procedures for joining the World Trade Organization, expressing her hope that the membership requirements will be completed by 2028. While revealing a proposal to prepare a national strategy for trade and investment, she stressed that Iraq is qualified to become a regional center for trade and investment.
Hamilton said during her appearance on the “Economic Dinar” program on Al-Iraqiya News Channel, which was followed by the Iraqi News Agency:
Ariel: Redenomination, Revaluation, New Rate, Forex Market all Can Happen at the Same Time
11-3-2026
Iraq Field Report: The Play By Play (The Calm Under Palm Trees)
Drawing Attention To The Course of Action Taken By The Prime Minister
Let me pull the veil back on what’s actually happening in Baghdad right now, because the mainstream financial press is about as useful as a chocolate teapot when it comes to reading the tea leaves of Iraqi monetary policy.
Reset Intelligence: Iran Moves After a Nuclear Warning.
By Reset Intelligence | @EXIT_FIAT
On Sunday evening, Eastern time, Tucker Carlson told his followers the Trump administration "may be within days of launching a nuclear strike on Iran." The post has been viewed over 80 million times. None of it is confirmed, and the White House would not comment on military plans.
Within a day Iran's president said the supreme leader had given the government powers to pursue a diplomatic way out. On Monday Trump wrote: "Iran wants a settlement, as soon as possible. It could happen!" Oil fell 7.6%, its biggest drop since July.
International Trade Centre: Iraq Is Qualified To Become A Regional Hub For Trade And Investment
The Executive Director of the International Trade Centre, Pamela Cooke Hamilton, affirmed the Iraqi government’s commitment to accelerating the procedures for joining the World Trade Organization, expressing her hope that the membership requirements would be completed by 2028. She also revealed a proposal to prepare a national strategy for trade and investment, noting that Iraq possesses the potential to become a regional center for trade and investment.
Good Morning Dinar Recaps,
GLOBAL ENERGY RESET WATCH: IRAN OFFERS TO REOPEN STRAIT OF HORMUZ AS NUCLEAR TALKS COULD RESUME
Iran says it could reopen the Strait of Hormuz and restart nuclear negotiations with the United States within two days if Washington accepts its conditions, but no agreement has been reached.
How Wars And Geopolitical Conflicts Can Affect Stock Market Performance: What History Shows And How Investors Can Prepare For Volatility
Investment strategy Sergei Klebnikov Editorial Staff, J.P. Morgan Wealth Management
* Geopolitical conflicts can drive short-term market volatility, but history shows the initial sell-off is often more about uncertainty than a lasting change in long-term returns.
*The biggest risk to watch is whether the conflict disrupts critical supply chains in ways that spill into inflation, financial conditions, corporate earnings and broader economic growth – energy is one common channel, but not the only one.
Dinar Update: Interesting Week Ahead...
The Dinar Den: 11-2-2026
The landscape of international currency investment is often filled with a mixture of anticipation and uncertainty, particularly when it comes to the Iraqi Dinar.
Recently, Stephen, a seasoned entrepreneur and host of the popular channel The Dinar Den, shared a comprehensive update regarding the current state of this investment. His perspective offers a grounded approach for those who have been monitoring the region’s financial evolution for years.
KTFA
Monday Night Video
FRANK26…11-2-26….1:1 CLOSER
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Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
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H
ello, World!
"An Extraordinary Session To Finalize The 2027 Budget"...
The Al-Zidi government is preparing to vote on the draft budget next Saturday in preparation for sending it to Parliament before the end of the year
Baghdad - One News - 11/03/2026 A government source reported that the Cabinet will hold an extraordinary session next Saturday, chaired by Prime Minister Ali Faleh al-Zaidi, to vote on the draft federal general budget law for 2027, in preparation for referring it to the House of Representatives for approval before the end of this year.