3 common “money rules” that may not work for everyone
Hot takes are everywhere. “Boneless chicken wings are just nuggets for adults.” “Muffins are just cupcakes without frosting.”
Our hot take? Some popular money advice deserves a second look. We’re diving into 3 common money tips and the realities behind them.
Traditional advice: “Cash is king!”
Our hot take: “Using your credit card strategically can come with extra benefits.
Numerica debit cards are a solid way to pay for items, especially if you are keeping a close eye on your spending. But when used responsibly, your Numerica credit card can offer bonuses, added protections and the opportunity to build your credit.
The benefits of using a Numerica credit card* for everyday spending (and paying off those purchases on time) include:
- Building credit that could help make future borrowing more affordable
- Unlocking awesome rewards with Numerica’s Visa Platinum or Luna like cash back, travel rewards, gift cards, and merchandise.
- Accessing protections like roadside dispatch, travel insurance, extended warranty protection, and cell phone protection **
- Getting stronger fraud and online purchase protection
If you pay your balance in full each month, your credit card may offer more benefits than a debit card.
Struggling with existing credit card debt? We’re here to help. Explore debt management options and resources.
Traditional advice: “Renting is just throwing your money down the drain.”
Our hot take: “Renting can be just as beneficial as homeownership for some.”
Homeownership can be an exciting financial milestone, but renting isn’t a waste of money! You need a place to live, and being a renter provides you with a ton of benefits including:
- Flexibility to move once your lease is up
- Fewer unexpected maintenance costs since landlords usually foot those bills
- Lower insurance costs compared to homeowners’ insurance
- More predictable monthly housing expenses
There can be a lot of pressure to buy a home as soon as you can. The truth is that the right time to buy is when you are financially ready.
Renting may give you time to save for a downpayment, improve your credit, and prepare for future homeownership. Explore the pros and cons of renting vs. buying a home to better understand what fits your goals and lifestyle.
Thinking of buying a home in the future? Connect with one of our Home Loan Center team members today and start planning!
Traditional advice: “Listen to the experts – the more popular, the better!”
Our hot take: “Popular online advice isn’t always reliable.”
Social media is flooded with flashy financial advice promising “easy money,” luxury lifestyles, and overnight success. Just remember your favorite financial influencer may not actually be a financial expert. And even good advice may not be the right advice for you.
Some creators earn money through sponsorships, affiliate links, or promoted investments. Their financial goals may not align with yours.
Trends like meme stocks, crypto hype, “buy now, pay later” lifestyles, or the pressure to keep up can lead to impulsive spending and poor financial decisions.
Before taking financial advice from social media:
- Verify credentials and sources
- Avoid “get rich quick” promises
- Research investments independently
- Focus on long-term financial habits instead of viral trends
Your finance future should be built on strategy and discipline, not likes, views, or viral posts.
Financial advice isn’t one-size-fits-all
The best financial decisions are the ones that support your goals, lifestyle, and long-term priorities.
Looking for more good money advice? Explore our articles and resources to help support your financial journey.
Written June 2026
Written by the Numerica Financial Education Team: Helping members grow their money across Spokane, North Idaho, Wenatchee, and the Tri-Cities.
