Concerned about the number of posters giving bad financial advice

[flipent]

I've seen a few threads recently where posters are concerned about debt and their financial situation.

I am really concerned with the number of people giving dreadful financial advice. The worst has to be 'consolidate you debt with a re-mortgage'.
This is terrible advice and no one should ever turn an unsecured debt into a secured one.

The lack of financial education in general is terrible and is why so many people get into difficult financial situations - but some of the advice is dangerous.

Someone on another thread yesterday advised someone to change the paperwork in their husbands assets from their husband’s name to joint names, to avoid paying for her husband’s potential care (he’s had a mental breakdown). It’s that kind of idiotic advice that annoys me.

I think probably the biggest thing I’ve learned as I’ve tried to be more financially savvy and using online forums over the years is to google the topic, perhaps go to see a solicitor, before taking a stranger’s word for it. Sounds obvious, but when you’re vulnerable you don’t always think straight.

debt advice can be a bit like weight loss advice oh you just need to eat less and move more the debt equivalent being you either have to increase income or decrease expenditure on a very simplistic level it maybe partially true but there are physically factors maybe someone can't exercise much or can't afford to maybe they can't get overtime or increase hours, expenditure may already be aldi and yellow labels
emotional factors food temporarily soothes distress even though it makes problem worse long term, so do small treats that cost a few pounds when you don't have a few pounds to spare
in both cases we know just willpower often isn't enough, neither is just accurate maths
Psychologically most of us manage better with shorter achievable goals than massive ones
When under pressure or stress our decision making is not as good,
long term financial discipline is hard as is long term exercising / diet ( hence popularity of crash diets to lose 7lbs for Christmas)
and financial advice like all other advice is rarely one size fits all, though the general principles might apply to all the best way for Person A is not necessarily the same as person B