Codie SanchezFounder @ Contrarian Thinking

The WORST Financial Advice

21 Mar 2025 · 1 min

Watch on YouTube

0:38

A short YouTube monologue by Codie Sanchez warning against buying clothes on layaway. She argues layaway functions like payday loans, highlights the large scale of the industry, and advises viewers not to purchase items they cannot comfortably afford—encouraging waiting, working longer, or resisting materialistic pressure.

Chapters

This is the worst financial advice I've ever heard. If you love them, buy them. This is called layaway. Please, for the love of all that's holy, don't actually buy clothes that you can't afford. Let me tell you why these industries exist. Basically, they're payday loans. Look at the size of this industry. This industry is giant. Also. The problem with doing this is most people who buy things on layaway can't afford them. As you can see here. Please don't buy clothes on layaway. Even if they say interest free for X amount of time. If you can't buy it outright really, really comfortably, you probably shouldn't buy it and work longer and more until you can. Or ignore a bunch of materialistic stuff that people want you to buy and you absolutely do not need it.