The Advice That Cost Me: Why Good Financial Advice Isn’t Always Right for You

November 2, 2025

My mom often says, “Show me your friends, and I’ll tell you who you are.”

Growing up, that meant something specific: If you kept company with friends who were “wild” or lacked manners (what we’d call “no home training” in Jamaican culture), people assumed you didn’t come from a good home.

But as an adult, I’ve learned this truth also applies to money.

The people around you, your family, co-workers, or friends, can deeply influence how you think about money and the choices you make. And that influence isn’t always negative, but it’s not always right for you, either.

The Moment I Learned That Lesson the Hard Way

A few years ago, my husband and I wanted to replace our backyard desk. The cost: about $5000.

We had saved most of it, and the debate was whether to use our savings to cover the rest or keep saving a little longer.

Then a coworker chimed in:

“Why use your money? Use their money, the bank’s and keep your cash free for other things.”

At the time, it made perfect sense. We borrowed the full amount through a personal loan at 12% interest. The deck looked great, but the decision didn’t age well.

The Hidden Cost “Smart” Advice

What I didn’t consider was the interest. Over the life of the loan, we paid far more that what we would have spent if we’d simply used part of our savings.

If we’d use our own money, my automatic savings plan would have replenished it within months. Instead, the loan added to our existing student and car debt, stretching us even thinner.

The truth is, my coworker’s advice wasn’t bad. It just wasn’t right for our stage.

He made over $130,000 a year, owned investment properties, maxed out his retirement plan, and had brokerage accounts. He could afford to leverage debt strategically. We were still crawling out of ours.

The Lesson: Advice Needs Context

I realized that sometimes, even good financial advice can be bad for you if it’s applied at the wrong time.

Just because someone seems successful doesn’t mean their strategy fits your current financial reality.

It’s okay to listen, but also okay to pause and store that advice for later, for when your income, goals, or debt-to-savings balance align.

Jumping ahead in your financial journey can cost you dearly.

What Could Help You Right Now

If you find yourself surrounded by different voices and “money experts,” take a step back and assess your own situation first:

1️⃣ Ask: Does this advice fit my financial goals today?

2️⃣ Run the number: What’s the total cost (interest, time, opportunity)?

3️⃣ Stay grounded: What’s good for someone earning six figures may not serve you right now.

For more practical insight, check out my Island Money 365 podcast episode:

🎧“Episode 30: Who’s Spending Your Money? The Hidden Influence on Your Financial Life.” In it, I share simple ways to evaluate financial advice and build a circle that supports your long-term goals.

Final Thought

Seek wisdom but always filter it through your own season of life.

Financial freedom isn’t about doing everything “right” it's about doing what’s right for you.

💚 Keep your money Irie.

About Petra-Ann Brown

Petra-Ann Brown is the founder of Brown Financial Solutions, LLC, a financial coaching practice that empowers individuals to take control of their financial lives. She is also the host of Island Money 365 podcast, where she shares inspiring immigrant stories and provides invaluable financial resources to the community.