5 Money Decisions 99% of People Get Wrong

Adam Del Duca
9 min readMar 18, 2022
Photo by Emilio Takas on Unsplash

In life, we all make questionable decisions like that time you took back your ex when she promised to never key your car again. Unfortunately, while some bad decisions can be rather inconsequential, others can have crippling effects on your life. As such, knowing which decisions will impact you the most and how to get them right is key to achieving financial success and here are 5 money decisions that most people get wrong which you would be best to avoid!

Decision #1: Paying on credit versus cash

When most of us go to buy something these days, the process is basically automatic. You pull out your payment method of choice, hit a couple buttons, complete the transaction and move on with your day. It seems simple enough, right? Well, yes it’s simple but even a simple process like the one I just explained can be mishandled without proper guidance.

You see, I think one of the biggest falsehoods in the world of financial advice today is the notion that credit cards are bad or evil. I don’t know about you but when I swipe my credit card at the store or punch in its numbers online I don’t get demonishly possessed or go into a fit of rage. All crummy jokes aside, I do see why some financial experts advise people to be careful with their credit cards. Yes they can lead to overspending and they do come with ridiculously high interest rates but that’s like saying you shouldn’t drive a car just because it goes fast and you can get into an accident when doing so. Life is about managing risk and the use of credit cards is just another risk I believe you should be taking.

So why am I so bullish on spending on credit cards over something like debit or cash? Well, I am glad you asked! Look no further than the numerous benefits you get when spending on credit and it will all start to make sense. Want rewards for spending money? Use a credit card. Want some sort of recourse if you are scammed into an unwanted purchase? Use a credit card. Want to ever borrow money but need credit to do so? Use a credit card.

Now, let’s look at what paying cash gets you. A lighter wallet. That’s it. I guess if you wanted to lose weight, spending cash is the go to move but beyond that there is no real benefit even if studies say that it could cause you to spend…

Adam Del Duca