What is a myth that should be dispelled because it is costing us all money?

[zoro]

Ok so here is a mustache based myth to start. The myth that razor blades become dull because they are used on tough beards. It is a myth propagated by macho advertising propaganda to benefit Procter and Gamble and Gillette. The truth is that razor blades become dull due to corrosion full stop. Bathrooms are the worst place to store them, and leaving them covered in water is beyond terrible. My latest 6 blade Dorco blade daily shaver has so far lasted 11 months - and is still as sharp as day 1. After use I rinse it off, dry it with a hair dryer and store it in a cup of Johnsons Baby Oil that I change every week. The oil is quite nice to shave with too.

[norajean]

That owning the place you live in is a good financial move and an "investment".

[LWYRUP]

Yeah, I use razorblades a long time too! 

There are a ton of consumer myths that are  hyped up to trick people into believing them but are garbage:

1.  That you "need" a new phone every two years.  You need a new phone when your old one breaks or is so slow as to be unusable.  (Easily 3-5 years if you are careful.)

2.  It's more effective to buy spray bottles full of chemicals rather than some bulk cleaning supplies and reusable plastic bottles.

3.  That it's easier to use those stupid Swiffer things than a real mop.

4.  That Domino's type pizza is easier / tastier than buying dough and throwing some toppings on.

5.  That Glade plug-ins aren't gross. 

6.  That off-brand is lower quality than branded.  (Sometimes, but rarely.)

(Aside: Unlike most BS consumer products, Fabreeze actually literally works, and they do have an issue marketing it because people get acclimated to smells and don't realize how effectively Fabreeze reduces them -- it doesn't have a strong smell itself, so it's hard to fully appreciate, but it makes a difference for someone that walks into a NEW house, like their neighbors.  But most of the rest of these cleaning products could be replaced with borax, lemon juice, vinegar, etc. or maybe just a big bottle of Simple Green that you dilute yourself.) 

[cool7hand]

That buying stuff that's not tied to meaningful life experience will make you happy. It won't.

[Morning Glory]

Myths that I can think of right now

Biking is dangerous

Walking is dangerous

Old cars are necessarily unreliable

New houses are somehow better than old ones

Addiction is a character flaw or a crime

People who look different than you are dangerous

The debt snowball method is efficient

Good test scores define a good school

Mortgages should be paid off as soon as possible

A person can be "illegal"

The rich should pay less tax because the money will trickle down to everyone else

Socialized medicine will result in worse medical care

Jobs will disappear if we increase the minimum wage

[Zikoris]

Probably that eating healthy is expensive. It's common around the internet, but still surprises me that even here people post some insane grocery budget and are just like "Welp, that's just what it costs to eat healthy!". No, you're just shit at shopping and cooking, and the sooner you admit it, the sooner you can start taking steps to fix the actual problem.

[Hula Hoop]

That (city) life with kids is impossible without a car.

[Mr. Green]

Ok so here is a mustache based myth to start. The myth that razor blades become dull because they are used on tough beards. It is a myth propagated by macho advertising propaganda to benefit Procter and Gamble and Gillette. The truth is that razor blades become dull due to corrosion full stop. Bathrooms are the worst place to store them, and leaving them covered in water is beyond terrible. My latest 6 blade Dorco blade daily shaver has so far lasted 11 months - and is still as sharp as day 1. After use I rinse it off, dry it with a hair dryer and store it in a cup of Johnsons Baby Oil that I change every week. The oil is quite nice to shave with too.

I'm not saying you're wrong, but a university study just recent done (can't remember which one) looked at razor blades under a high powered microscope after shaving and found that hair actually causes micro fractures in the blades, causing the surface to become rougher over time. It was a surprising result, and they're unsure why human hair would chip steel blades. It was an interesting read!

[Paul der Krake]

Safety razors, yo. 10 cents a blade or thereabouts.

[SwordGuy]

The stock market does better under Republicans.

[secondcor521]

Two things that I personally think are myths, but others might disagree:

1.  Hiring out tasks is more efficient than doing them yourself.  Maybe, maybe not.  Doing things myself means I can monitor my yard, house, car, and equipment and catch other issues earlier.  Every time I do something myself I gain more knowledge, confidence, and self-reliance (and often tools).  Now that I'm retired, there is very little opportunity cost as well - for example I spent an entire nice afternoon out in the sun replacing my car's alternator.  Spent some time with my son, learned some things, and saved maybe $250 over having someone else do it.

2.  Your health just is what it is and you go to the doctor to get pills or surgery to fix things.  Maybe, maybe not.  I've been focused on a healthy diet, exercise program, basic vitamins, sleep, hydration, and stress reduction.  I know people - many people - get sick through no fault of their own with things that cannot be prevented.  Including my own mother.  But on average, there is a lot of common sense things that are cheap and easy that you can do to statistically reduce the risk of the most common killers of heart disease, stroke, and diabetes.  As an example, due to the changes I've made, my blood sugar went from pre-diabetic to normal in six months.

[GuitarStv]

Beds are beneficial to your back and/or help you to sleep.


A blanket on the floor takes a while to adjust to, but is better for your back and (after a couple weeks adjustment period) will improve your sleep.  All while saving you money.

[nobody]

Probably that eating healthy is expensive. It's common around the internet, but still surprises me that even here people post some insane grocery budget and are just like "Welp, that's just what it costs to eat healthy!". No, you're just shit at shopping and cooking, and the sooner you admit it, the sooner you can start taking steps to fix the actual problem.

^ This.  I very much agree.  I know many people who say eating healthy is expensive, and I would argue that eating healthy is cheaper than eating junk/unhealthy.

I will also add that, going to a "good" school equates to having a "good" job/being successful.

[Morning Glory]

Probably that eating healthy is expensive. It's common around the internet, but still surprises me that even here people post some insane grocery budget and are just like "Welp, that's just what it costs to eat healthy!". No, you're just shit at shopping and cooking, and the sooner you admit it, the sooner you can start taking steps to fix the actual problem.

^ This.  I very much agree.  I know many people who say eating healthy is expensive, and I would argue that eating healthy is cheaper than eating junk/unhealthy.

I will also add that, going to a "good" school equates to having a "good" job/being successful.

Oh yes. Good schools are the hedonic treadmill of success.  I have emotional baggage from going to a good high school and just being regular-people successful when some of my classmates are super 1% high achiever successful.

[Plugra]

• Tax cuts will benefit working families

[MasterStache]

Probably that eating healthy is expensive. It's common around the internet, but still surprises me that even here people post some insane grocery budget and are just like "Welp, that's just what it costs to eat healthy!". No, you're just shit at shopping and cooking, and the sooner you admit it, the sooner you can start taking steps to fix the actual problem.

I see this too. But I also think a lot of these folks (like myself) try to eat with the environment in mind. For instance I have been purchasing purely pasture raised eggs for a few years now. They are definitely more expensive than factory farmed eggs. I also try to bypass produce that is stored in a plastic bag (Aldi is bad for this) and go for the open air produce. Again, more expensive but saves on plastic. I do agree that eating healthy doesn't have to bust your budget.   

[jim555]

Emergency Funds - I don't know why this silly idea is so popular, it loses you money for no reason.

[Zikoris]

Probably that eating healthy is expensive. It's common around the internet, but still surprises me that even here people post some insane grocery budget and are just like "Welp, that's just what it costs to eat healthy!". No, you're just shit at shopping and cooking, and the sooner you admit it, the sooner you can start taking steps to fix the actual problem.

I see this too. But I also think a lot of these folks (like myself) try to eat with the environment in mind. For instance I have been purchasing purely pasture raised eggs for a few years now. They are definitely more expensive than factory farmed eggs. I also try to bypass produce that is stored in a plastic bag (Aldi is bad for this) and go for the open air produce. Again, more expensive but saves on plastic. I do agree that eating healthy doesn't have to bust your budget.

I'm surprised you would feel comfortable eating animal products if you're specifically trying to eat with the environment in mind - with a few exceptions (like hunting, diverting waste, or if you raised animals feeding them food scraps/waste versus crops), animal farming is about the worst thing a person could eat from an environmental perspective.

Is it an unusual thing for produce to be open-air in your area? I feel like the majority of grocery stores I've ever been in have just had it all sitting there in the open with no plastic, unless it was like a sack of potatoes or something. The only exception was when I lived in northern Canada where everything was wrapped in plastic because otherwise it wouldn't survive the long barge ride to get there.

[jim555]

Emergency Funds - I don't know why this silly idea is so popular, it loses you money for no reason.

Please explain why you believe emergency funds to be a bad idea. Is it the idea of having cash in a chequing account earning no interest, or the broader idea of having easily accessible money to handle emergencies / unexpected expenses with?

There is a huge and predatory market for the issuance of high-interest loans to people who find themselves in a bind without an emergency fund. Are you suggesting that no one needs an EF, or just that some people don't?

If you have 5X, 10X or 20X annual expenses saved up that is your emergency fund.  An emergency happens you can put it on a credit card, sell some stocks/bonds, even take a margin loan against your securities.  An emergency fund sitting idle just looses you return.

[John Galt incarnate!]

I've heard that ICE that power vehicles will meet their specifications when they burn "regular" gasoline although higher octane, more expensive  gasoline is specified.


IDK if this is true.

[John Galt incarnate!]

Emergency Funds - I don't know why this silly idea is so popular, it loses you money for no reason.

I disagree that emergency funds are a silly idea.

Having an emergency fund is rational if it maximizes one's satisfaction by eliminating their anxiety of not having immediate access to money during an emergency.

[Paul der Krake]

Yeah, I usually lean towards smaller rather than larger emergency funds. But the last 6 months have shown that while unemployment insurance is a thing, there is no guarantee the claim will be processed in a timely manner. Nearly everyone would be well advised to have enough for a couple of months.

[Travis]

Ok so here is a mustache based myth to start. The myth that razor blades become dull because they are used on tough beards. It is a myth propagated by macho advertising propaganda to benefit Procter and Gamble and Gillette. The truth is that razor blades become dull due to corrosion full stop. Bathrooms are the worst place to store them, and leaving them covered in water is beyond terrible. My latest 6 blade Dorco blade daily shaver has so far lasted 11 months - and is still as sharp as day 1. After use I rinse it off, dry it with a hair dryer and store it in a cup of Johnsons Baby Oil that I change every week. The oil is quite nice to shave with too.

I'm not saying you're wrong, but a university study just recent done (can't remember which one) looked at razor blades under a high powered microscope after shaving and found that hair actually causes micro fractures in the blades, causing the surface to become rougher over time. It was a surprising result, and they're unsure why human hair would chip steel blades. It was an interesting read!

Reality is probably somewhere in the middle. We definitely don't need to change out our razor blades as often as advertised/recommended.  My generic brand three-blade razors which come in a box of 12 last me over a year. The box expects you to only use one for a week or so.

[driftwood]

I've heard that ICE that power vehicles will meet their specifications when they burn "regular" gasoline although higher octane, more expensive  gasoline is specified.


IDK if this is true.

But if you don't know if it's true, or false, what's the point of posting?

I heard that you don't need to eat to live, so we're all wasting $ on food, but IDK if this is true/s.

[MasterStache]

Probably that eating healthy is expensive. It's common around the internet, but still surprises me that even here people post some insane grocery budget and are just like "Welp, that's just what it costs to eat healthy!". No, you're just shit at shopping and cooking, and the sooner you admit it, the sooner you can start taking steps to fix the actual problem.

I see this too. But I also think a lot of these folks (like myself) try to eat with the environment in mind. For instance I have been purchasing purely pasture raised eggs for a few years now. They are definitely more expensive than factory farmed eggs. I also try to bypass produce that is stored in a plastic bag (Aldi is bad for this) and go for the open air produce. Again, more expensive but saves on plastic. I do agree that eating healthy doesn't have to bust your budget.

I'm surprised you would feel comfortable eating animal products if you're specifically trying to eat with the environment in mind - with a few exceptions (like hunting, diverting waste, or if you raised animals feeding them food scraps/waste versus crops), animal farming is about the worst thing a person could eat from an environmental perspective.

Is it an unusual thing for produce to be open-air in your area? I feel like the majority of grocery stores I've ever been in have just had it all sitting there in the open with no plastic, unless it was like a sack of potatoes or something. The only exception was when I lived in northern Canada where everything was wrapped in plastic because otherwise it wouldn't survive the long barge ride to get there.

I'm not perfect. I also have two very picky eater kids (one has ASD). My goal is to minimize my impact which is why, as I stated, I "try" to eat with the environment in mind. Pasture raised eggs from local farms/neighbors are such a small impact. I've made other more impactful decisions like riding my bike, driving an electric car, installing solar panels etc. My kids love and want eggs, it's small fish in a giant ocean.

And yes Aldi has most of their produce in plastic bags. It's cheaper, but I avoid buying it there because of this. 

[GuitarStv]

Ok so here is a mustache based myth to start. The myth that razor blades become dull because they are used on tough beards. It is a myth propagated by macho advertising propaganda to benefit Procter and Gamble and Gillette. The truth is that razor blades become dull due to corrosion full stop. Bathrooms are the worst place to store them, and leaving them covered in water is beyond terrible. My latest 6 blade Dorco blade daily shaver has so far lasted 11 months - and is still as sharp as day 1. After use I rinse it off, dry it with a hair dryer and store it in a cup of Johnsons Baby Oil that I change every week. The oil is quite nice to shave with too.

I'm not saying you're wrong, but a university study just recent done (can't remember which one) looked at razor blades under a high powered microscope after shaving and found that hair actually causes micro fractures in the blades, causing the surface to become rougher over time. It was a surprising result, and they're unsure why human hair would chip steel blades. It was an interesting read!

Reality is probably somewhere in the middle. We definitely don't need to change out our razor blades as often as advertised/recommended.  My generic brand three-blade razors which come in a box of 12 last me over a year. The box expects you to only use one for a week or so.

I use standard DE razor blades and remove them from the handle/dry them off completely after use.  They're good for 2-3 months out of a blade, but the blades become noticeably dull after that point.  I'm pretty certain that this is the result of dulling from use.

[ROF Expat]

I've heard that ICE that power vehicles will meet their specifications when they burn "regular" gasoline although higher octane, more expensive  gasoline is specified.


IDK if this is true.

Not true. 

If your engine specifies higher octane fuel, it is designed to be able to perform better with it, although you don't necessarily have to use it.  The myth is that paying more for premium fuel will improve mileage or performance in a car that isn't designed to use it. 

Basically, "premium" gas is just gas with a higher octane level.  People make the mistake of thinking that the higher octane level translates to higher performance.  That just isn't the case.  The amount of energy in the gasoline doesn't change with the octane. 

All higher octane does is prevent engine knock in higher compression engines.  If you had a high compression engine in a muscle car in the 1970s, it would have run better on high octane gas than it would on regular, at least if you were using the engine at anywhere near its capability.  These days, even economy cars make more horsepower per liter of displacement than most old muscle cars, and a lot of cars are designed to benefit from higher octane fuel.  The big difference is that modern engines are controlled by computers.  If your motor is designed to benefit from (and is using) higher octane fuel, the engine controller can produce engine parameters that will improve performance.  In most cases, if you are using a lower octane fuel, the computer will adjust engine parameters to reduce performance, but there should be no risk of damage to the engine. 

It really comes down to reading your owner's manual.  If your car "recommends" premium, you can probably choose whether the increased performance merits the higher cost of premium fuel.  If your car "requires" a certain octane, I would plan on using that, although I doubt you'd cause any damage by using lower octane if that was all you could get.  I'd try to avoid pushing the engine very hard and would add the appropriate octane fuel at the earliest reasonable opportunity, though. 

[ROF Expat]

Emergency Funds - I don't know why this silly idea is so popular, it loses you money for no reason.

Please explain why you believe emergency funds to be a bad idea. Is it the idea of having cash in a chequing account earning no interest, or the broader idea of having easily accessible money to handle emergencies / unexpected expenses with?

There is a huge and predatory market for the issuance of high-interest loans to people who find themselves in a bind without an emergency fund. Are you suggesting that no one needs an EF, or just that some people don't?

If you have 5X, 10X or 20X annual expenses saved up that is your emergency fund.  An emergency happens you can put it on a credit card, sell some stocks/bonds, even take a margin loan against your securities.  An emergency fund sitting idle just looses you return.

OK, if you have 20x annual expenses saved, maybe you don't "need" a separate emergency fund.  5x or 10x?  I'm not so sure.  I guess a lot would depend on where you have your money.  If it is in a 401k or IRA that will assess a penalty for early withdrawal, having an emergency fund might be a good idea. 

But most people don't have 5 or 10 times annual earnings saved up, much less 20.  The Federal Reserve Bank published a study that said that 39% of people couldn't cover an unexpected $400 bill without borrowing, and 17% of adults expected to forgo payment on some of their bills in the month of the survey.  In the real world, an emergency fund is a great idea for the vast majority of people.  I suspect that right now there are a lot more Americans who wish they had a healthy emergency fund than there are Americans who are beating themselves up for having too much money sitting unproductively in their emergency fund. 

As an aside, I wonder how many people who have 20x savings got there without having an emergency fund beforehand?  I tend to think the "emergency fund" is one of those cases where the conventional wisdom is pretty good.  How much you need to have depends on your circumstances. 
5

[GuitarStv]

I've heard that ICE that power vehicles will meet their specifications when they burn "regular" gasoline although higher octane, more expensive  gasoline is specified.


IDK if this is true.

Not true. 

If your engine specifies higher octane fuel, it is designed to be able to perform better with it, although you don't necessarily have to use it.  The myth is that paying more for premium fuel will improve mileage or performance in a car that isn't designed to use it. 

Basically, "premium" gas is just gas with a higher octane level.  People make the mistake of thinking that the higher octane level translates to higher performance.  That just isn't the case.  The amount of energy in the gasoline doesn't change with the octane. 

All higher octane does is prevent engine knock in higher compression engines.  If you had a high compression engine in a muscle car in the 1970s, it would have run better on high octane gas than it would on regular, at least if you were using the engine at anywhere near its capability.  These days, even economy cars make more horsepower per liter of displacement than most old muscle cars, and a lot of cars are designed to benefit from higher octane fuel.  The big difference is that modern engines are controlled by computers.  If your motor is designed to benefit from (and is using) higher octane fuel, the engine controller can produce engine parameters that will improve performance.  In most cases, if you are using a lower octane fuel, the computer will adjust engine parameters to reduce performance, but there should be no risk of damage to the engine. 

It really comes down to reading your owner's manual.  If your car "recommends" premium, you can probably choose whether the increased performance merits the higher cost of premium fuel.  If your car "requires" a certain octane, I would plan on using that, although I doubt you'd cause any damage by using lower octane if that was all you could get.  I'd try to avoid pushing the engine very hard and would add the appropriate octane fuel at the earliest reasonable opportunity, though.

Quite a few years ago I was driving an old beat-up pickup truck that had a loud knock in the engine.  One of my co-workers told me to use high octane gas to fix the problem . . . and after a week or so of using high test gas the knock went away and I went back to using regular.  Since then I've decided that hi-octane gas is a miracle fluid that will heal your engine.

:P

[Steeze]

Ok so here is a mustache based myth to start. The myth that razor blades become dull because they are used on tough beards. It is a myth propagated by macho advertising propaganda to benefit Procter and Gamble and Gillette. The truth is that razor blades become dull due to corrosion full stop. Bathrooms are the worst place to store them, and leaving them covered in water is beyond terrible. My latest 6 blade Dorco blade daily shaver has so far lasted 11 months - and is still as sharp as day 1. After use I rinse it off, dry it with a hair dryer and store it in a cup of Johnsons Baby Oil that I change every week. The oil is quite nice to shave with too.

I'm not saying you're wrong, but a university study just recent done (can't remember which one) looked at razor blades under a high powered microscope after shaving and found that hair actually causes micro fractures in the blades, causing the surface to become rougher over time. It was a surprising result, and they're unsure why human hair would chip steel blades. It was an interesting read!

Reality is probably somewhere in the middle. We definitely don't need to change out our razor blades as often as advertised/recommended.  My generic brand three-blade razors which come in a box of 12 last me over a year. The box expects you to only use one for a week or so.

I use standard DE razor blades and remove them from the handle/dry them off completely after use.  They're good for 2-3 months out of a blade, but the blades become noticeably dull after that point.  I'm pretty certain that this is the result of dulling from use.

I shave once a year whether I need to or not. My trusty single blade disposable from the hotel bathroom I picked up a couple years ago is still going strong.

I highly recommend just not shaving. Saves time, money, and gives you a nice woodsman appearance. Does make face mask effectiveness questionable.

[Zikoris]

I'm not perfect. I also have two very picky eater kids (one has ASD). My goal is to minimize my impact which is why, as I stated, I "try" to eat with the environment in mind. Pasture raised eggs from local farms/neighbors are such a small impact. I've made other more impactful decisions like riding my bike, driving an electric car, installing solar panels etc. My kids love and want eggs, it's small fish in a giant ocean.

And yes Aldi has most of their produce in plastic bags. It's cheaper, but I avoid buying it there because of this.

That's really interesting about Aldi! I've never been to one and had no idea.

I saw a great documentary about food waste/environmental eating awhile ago called "Just Eat It", and it totally changed my approach to food. His argument was that the best thing a person can do in that area is to focus on reducing food waste through diverting food that would go to the garbage, even if it came in plastic, due to the amount of methane released from food unable to compost properly in the landfill setting. He actually did a lot of dumpster diving for the film, but went out to farms to do gleaning, foraging, buying the marked down stuff in stores that's close to expiry (that most people won't buy), and also buying the ugliest produce you can find. The couple doing the film are also absolutely hilarious to watch/listen to. I would totally recommend it if you're interested in the topic. I actually switched the majority of my shopping to a store that sells that type of food almost exclusively.

[GuitarStv]

I shave once a year whether I need to or not. My trusty single blade disposable from the hotel bathroom I picked up a couple years ago is still going strong.

I highly recommend just not shaving. Saves time, money, and gives you a nice woodsman appearance. Does make face mask effectiveness questionable.

I've tried it . . . but my beard grows very patchy and becomes increasingly itchy, causing my skin to break out.  The 15 cent razor every few months seems to be a lot cheaper than the skin care products I'd otherwise need.

[Travis]

Ok so here is a mustache based myth to start. The myth that razor blades become dull because they are used on tough beards. It is a myth propagated by macho advertising propaganda to benefit Procter and Gamble and Gillette. The truth is that razor blades become dull due to corrosion full stop. Bathrooms are the worst place to store them, and leaving them covered in water is beyond terrible. My latest 6 blade Dorco blade daily shaver has so far lasted 11 months - and is still as sharp as day 1. After use I rinse it off, dry it with a hair dryer and store it in a cup of Johnsons Baby Oil that I change every week. The oil is quite nice to shave with too.

I'm not saying you're wrong, but a university study just recent done (can't remember which one) looked at razor blades under a high powered microscope after shaving and found that hair actually causes micro fractures in the blades, causing the surface to become rougher over time. It was a surprising result, and they're unsure why human hair would chip steel blades. It was an interesting read!

Reality is probably somewhere in the middle. We definitely don't need to change out our razor blades as often as advertised/recommended.  My generic brand three-blade razors which come in a box of 12 last me over a year. The box expects you to only use one for a week or so.

I use standard DE razor blades and remove them from the handle/dry them off completely after use.  They're good for 2-3 months out of a blade, but the blades become noticeably dull after that point.  I'm pretty certain that this is the result of dulling from use.

I shave once a year whether I need to or not. My trusty single blade disposable from the hotel bathroom I picked up a couple years ago is still going strong.

I highly recommend just not shaving. Saves time, money, and gives you a nice woodsman appearance. Does make face mask effectiveness questionable.

Daily shaving still a job requirement for a couple more years.

[Travis]

Bottled water. "Fresh from a mountain spring" *


*After it has run through conventional city plumbing to a bottling plant, run through a simple filter, bottled in plastic that will almost certainly be thrown in the trash, and priced several times higher than gasoline.

[John Galt incarnate!]

I've heard that ICE that power vehicles will meet their specifications when they burn "regular" gasoline although higher octane, more expensive  gasoline is specified.


IDK if this is true.

Not true. 

If your engine specifies higher octane fuel, it is designed to be able to perform better with it, although you don't necessarily have to use it.  The myth is that paying more for premium fuel will improve mileage or performance in a car that isn't designed to use it. 

Basically, "premium" gas is just gas with a higher octane level.  People make the mistake of thinking that the higher octane level translates to higher performance.  That just isn't the case.  The amount of energy in the gasoline doesn't change with the octane. 

All higher octane does is prevent engine knock in higher compression engines.  If you had a high compression engine in a muscle car in the 1970s, it would have run better on high octane gas than it would on regular, at least if you were using the engine at anywhere near its capability.  These days, even economy cars make more horsepower per liter of displacement than most old muscle cars, and a lot of cars are designed to benefit from higher octane fuel.  The big difference is that modern engines are controlled by computers.  If your motor is designed to benefit from (and is using) higher octane fuel, the engine controller can produce engine parameters that will improve performance.  In most cases, if you are using a lower octane fuel, the computer will adjust engine parameters to reduce performance, but there should be no risk of damage to the engine. 

It really comes down to reading your owner's manual.  If your car "recommends" premium, you can probably choose whether the increased performance merits the higher cost of premium fuel.  If your car "requires" a certain octane, I would plan on using that, although I doubt you'd cause any damage by using lower octane if that was all you could get.  I'd try to avoid pushing the engine very hard and would add the appropriate octane fuel at the earliest reasonable opportunity, though.

Noted.

[OtherJen]

Emergency Funds - I don't know why this silly idea is so popular, it loses you money for no reason.

Please explain why you believe emergency funds to be a bad idea. Is it the idea of having cash in a chequing account earning no interest, or the broader idea of having easily accessible money to handle emergencies / unexpected expenses with?

There is a huge and predatory market for the issuance of high-interest loans to people who find themselves in a bind without an emergency fund. Are you suggesting that no one needs an EF, or just that some people don't?

If you have 5X, 10X or 20X annual expenses saved up that is your emergency fund.  An emergency happens you can put it on a credit card, sell some stocks/bonds, even take a margin loan against your securities.  An emergency fund sitting idle just looses you return.

OK, if you have 20x annual expenses saved, maybe you don't "need" a separate emergency fund.  5x or 10x?  I'm not so sure.  I guess a lot would depend on where you have your money.  If it is in a 401k or IRA that will assess a penalty for early withdrawal, having an emergency fund might be a good idea. 

But most people don't have 5 or 10 times annual earnings saved up, much less 20.  The Federal Reserve Bank published a study that said that 39% of people couldn't cover an unexpected $400 bill without borrowing, and 17% of adults expected to forgo payment on some of their bills in the month of the survey.  In the real world, an emergency fund is a great idea for the vast majority of people.  I suspect that right now there are a lot more Americans who wish they had a healthy emergency fund than there are Americans who are beating themselves up for having too much money sitting unproductively in their emergency fund. 

As an aside, I wonder how many people who have 20x savings got there without having an emergency fund beforehand?  I tend to think the "emergency fund" is one of those cases where the conventional wisdom is pretty good.  How much you need to have depends on your circumstances. 
5

Yeah. We got a late start and don’t yet have 5x our annual earnings in savings (which would be halfway to FI for us). We do, however, have a 6-month emergency fund in a “high”-yield savings account. When the economic fallout of the pandemic smooths out, we might reduce that to 3 months and invest the difference. Until then, it’s worth it for the peace of mind. It’s so much easier to make other wise financial decisions when one isn’t stressed about how basic daily expenses would be covered in an emergency.

[YttriumNitrate]

Here's one that has been popular among the younger crowds for at least the last 40+ years:

Social Security won't be there when you retire.

Sure, benefits might go down a bit, or retirement age might go up a bit, but the chances of it being scrapped all together are vanishingly small.

[Queen Frugal]

Beds are beneficial to your back and/or help you to sleep.


A blanket on the floor takes a while to adjust to, but is better for your back and (after a couple weeks adjustment period) will improve your sleep.  All while saving you money.

^^^ This!!! I bought a house a year ago and the floors are cold in the winter so I bought a 'regular' bed to stay warm. I hate it!!! Before that, I slept on concrete floors for years. I did use a backpacking-style thin blow up mattress because I like to sleep on my side and that made it more comfortable for me. SO much cheaper and SO much more comfortable - once you adjust.  I would get rid of my bed in a heartbeat if I could figure out how to keep the floor warm. :)

Here is another - your hair won't look good unless cut by a professional. 

[MilesTeg]

I've heard that ICE that power vehicles will meet their specifications when they burn "regular" gasoline although higher octane, more expensive  gasoline is specified.


IDK if this is true.

Not true. 

If your engine specifies higher octane fuel, it is designed to be able to perform better with it, although you don't necessarily have to use it.  The myth is that paying more for premium fuel will improve mileage or performance in a car that isn't designed to use it. 

Basically, "premium" gas is just gas with a higher octane level.  People make the mistake of thinking that the higher octane level translates to higher performance.  That just isn't the case.  The amount of energy in the gasoline doesn't change with the octane. 

All higher octane does is prevent engine knock in higher compression engines.  If you had a high compression engine in a muscle car in the 1970s, it would have run better on high octane gas than it would on regular, at least if you were using the engine at anywhere near its capability.  These days, even economy cars make more horsepower per liter of displacement than most old muscle cars, and a lot of cars are designed to benefit from higher octane fuel.  The big difference is that modern engines are controlled by computers.  If your motor is designed to benefit from (and is using) higher octane fuel, the engine controller can produce engine parameters that will improve performance.  In most cases, if you are using a lower octane fuel, the computer will adjust engine parameters to reduce performance, but there should be no risk of damage to the engine. 

It really comes down to reading your owner's manual.  If your car "recommends" premium, you can probably choose whether the increased performance merits the higher cost of premium fuel.  If your car "requires" a certain octane, I would plan on using that, although I doubt you'd cause any damage by using lower octane if that was all you could get.  I'd try to avoid pushing the engine very hard and would add the appropriate octane fuel at the earliest reasonable opportunity, though.

Premium gas also has (or has more) dexron or other similar additives that are designed to clean and remove corrosion from your engine. Such additives can be effective in some cases but I am not convinced of their efficacy when added in relatively small amounts in any grade gasoline.

[ROF Expat]

I've heard that ICE that power vehicles will meet their specifications when they burn "regular" gasoline although higher octane, more expensive  gasoline is specified.


IDK if this is true.

Not true. 

If your engine specifies higher octane fuel, it is designed to be able to perform better with it, although you don't necessarily have to use it.  The myth is that paying more for premium fuel will improve mileage or performance in a car that isn't designed to use it. 

Basically, "premium" gas is just gas with a higher octane level.  People make the mistake of thinking that the higher octane level translates to higher performance.  That just isn't the case.  The amount of energy in the gasoline doesn't change with the octane. 

All higher octane does is prevent engine knock in higher compression engines.  If you had a high compression engine in a muscle car in the 1970s, it would have run better on high octane gas than it would on regular, at least if you were using the engine at anywhere near its capability.  These days, even economy cars make more horsepower per liter of displacement than most old muscle cars, and a lot of cars are designed to benefit from higher octane fuel.  The big difference is that modern engines are controlled by computers.  If your motor is designed to benefit from (and is using) higher octane fuel, the engine controller can produce engine parameters that will improve performance.  In most cases, if you are using a lower octane fuel, the computer will adjust engine parameters to reduce performance, but there should be no risk of damage to the engine. 

It really comes down to reading your owner's manual.  If your car "recommends" premium, you can probably choose whether the increased performance merits the higher cost of premium fuel.  If your car "requires" a certain octane, I would plan on using that, although I doubt you'd cause any damage by using lower octane if that was all you could get.  I'd try to avoid pushing the engine very hard and would add the appropriate octane fuel at the earliest reasonable opportunity, though.

Premium gas also has (or has more) dexron or other similar additives that are designed to clean and remove corrosion from your engine. Such additives can be effective in some cases but I am not convinced of their efficacy when added in relatively small amounts in any grade gasoline.

I think it is true that additives can make a positive difference.  I've seen some articles that indicate that buying gas from retailers that use additives (generally, any name-brand gas station) results in cleaner engine components over time than using gas from cut-rate sellers that don't use additives.  However, I have not seen anything (outside of implications in advertising) that indicates that more additive in "premium" gas rather than what is in the same company's standard gas makes any measurable difference.  I think I have also heard that you get most of the benefit of those additives with just occasional use of a tankful of gas.   

[Just Joe]

Here's one that has been popular among the younger crowds for at least the last 40+ years:

Social Security won't be there when you retire.

Sure, benefits might go down a bit, or retirement age might go up a bit, but the chances of it being scrapped all together are vanishingly small.

The fear might be a good motivation though.

[Taran Wanderer]

I’ve driven multiple cars to 200,000+ miles on name brand fuel (Chevron).  No engine problems at all. I kinda like it.

[ilsy]

Emergency Funds - I don't know why this silly idea is so popular, it loses you money for no reason.

+1

I religiously kept 6m emergency fund (EF) until I got my rentals and realized that investing the EF at 16% annual return is much better than keeping it at 3% in Money Market (not today's rate). Since I have been financing my rehabs with my CCs at 0, 2, or the max 3%, I know I can get 3-5 times more than my calculated 6m EF in a heart beat deposited to my bank for up to 24m before I need to repay it. And after the initial 24m, I can transfer this debt to another card s at 3% for another 18 or so months.

And that's if I loose my job, my rental income from all my properties, my TLs' income and a couple of other income producing things at the same time - that should be some big time emergency (one of those that I would need to sell one of the properties to buy a bunker). I could title my car (still worth something like $7k), sometimes it's 0.9% APR for 3 years in our local bank. I could HELOC line of credit my primary or any of my free and clear rentals. So, when it comes to emergency fund I have many options to choose from, depending on how soon I need the money, and the min interest I would like to pay.

[DadJokes]

Everyone bashes emergency funds during good times. It's very different when you're in bad times.

Personally, I use my emergency fund to churn bank bonuses and earn more than I could get in the stock market anyway with less risk. It's win-win.

[MudPuppy]

Everyone bashes emergency funds during good times. It's very different when you're in bad times.

Worth quoting!


6 months is maybe too much for some people, especially those with easy access to other assests or who work in very stable careers, etc. An emergency fund that’s at least your insurance deductible is advisable for almost everyone.

[nereo]

I'm shocked no one has mentioned health care yet.

Specifically, the myth that we cannot afford to offer basic health care to everyone in the US, or that doing so would be prohibitively expensive. Fact is we are already spending this money (and spending it about as inefficiently as possible).  Most of it is spent by employers - compelled by legislation - which amounts to a health care tax anyway.  For the uninsured (e.g. for someone recently unemployed), forgoing routine and preventative care winds up costing everyone more down the road.

[ilsy]

Everyone bashes emergency funds during good times. It's very different when you're in bad times.

I thought now are the bad times, but I guess I'm missing something.

Per definition emergency fund is 6x monthly expenses. In my case it's ~$11.5k (that's for 6 months).

1. My expenses are lower than my salary
2. My rental income is higher than my salary (all properties are free and clear)
3. I can get CC line x3-5 times my emergency fund today in cash if I have to
4. I can HELOC my rentals and my primary to get x40 times my emergency fund.
5. there are actually other places I can get money, too many to list (one would be titling my car, since its free and clear and is still worth about $7k)

I cannot imagine an emergency in which none of the listed sources will work and I would need to keep $11.5k in the bank. An emergency in which I loose my job, my tenants don't pay, I cannot get money on my CC, and can't get any line of credit on my real estate. That would be a zombie apocalypse and in that case I would need not cash in a bank, but a bunker deep under the ground.   

[nereo]

who's definition?

[ilsy]

who's definition?

not sure....Suze Orman?

What's your definition?

[Metalcat]

who's definition?

not sure....Suze Orman?

What's your definition?

Everyone has to have their own definition of what amount an emergency fund is. There is no actual definition