Beware Advice From Rich People

They don’t know jack about effective money management for poor people.

Michelle Teheux
8 min readApr 22, 2022
Photo by BP Miller on Unsplash

The world is full of wealthy people who are anxious to tell poor, working class and lower middle class people how to handle their money. They believe they are experts.

They are not.

They may be experts in how to handle money for people of their own financial circle. That does not mean they know how people without much income can get the most out of what they have.

I don’t presume to advise them about their hedge funds; they should not presume to advise me about credit cards.

Wealthy people appear to assume everyone makes a good wage and if you’re struggling, it’s because you’re too stupid to handle your own money.

Think back to some of the advice you’ve heard clueless well-off folks offer:

  • Just live within your means!
  • Make a budget and stick to it.
  • Never go into debt for a car.
  • Never use credit cards.
  • Have more discipline!

Now, here is why most of that is bullshit:

Most of their advice is irrelevant to me, as a non-wealthy person.

Many times in my life, I’ve gone into debt to pay for a necessity. I have never gone into debt to pay for a luxury.

Financial stability depends on two things: having a decent income and handling your money well. You can’t just have one. You need both components. I’m better at handling money than making it. You might be the opposite.

It took me a long time to get to this point, but my husband and I have zero non-house debt and haven’t for at least a decade, despite a modest income. Most people assume we make at least double what we actually do. If I had followed the standard advice, we’d be in much worse shape.

One big way I ignore the standard advice?

I use a credit card for everything.



Michelle Teheux

Lover of literature. Editor of Minds Without Borders. Former newspaper editor. Fascinated by everything. Contact at