This Flashback Friday is from episode 398 published last August 11, 2014. 

Zac Bissonnette is the author of, "GOOD ADVICE FROM BAD PEOPLE: Selected Wisdom from Murderers, Stock Swindlers, and Lance Armstrong." He previously wrote, "How to Be Richer, Smarter, and Better-Looking Than Your Parents", and "Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off My Parents."

Bissonnette discusses why car loans are for suckers and why leasing a car is a poor choice. 

He then talks about the influence parents have on their kids' decisions relating to financial management and the correlation between spending and watching television. 

Bissonnette finishes the discussion by analyzing some of the worst advice given in the modern day: 

“When you know what you are talking about, others will follow you, because it’s safe to follow you.” —Lehman Brothers CEO Richard Fuld, 2006

“Winning is about heart…. It’s got to be in the right place.” – Lance Armstrong

“The day you take complete responsibility for yourself, the day you stop making any excuse, that’s the day you start to the top.” –O.J. Simpson, 1975

“I think the most important thing is restore a sense of idealism and end the cynicism.” –future Illinois Governor Rod Blagojevich, 2002

“The best chance for the average investor is to put money in an index fund.” – Bernie Madoff

Zac Bissonnette is a personal finance writer. His first book, Debt-Free U, landed him on The Today Show, Sean Hannity, The Dave Ramsey Show, The 700 Club, and the Fox News Channel. The Washington Post called Debt-Free U "the best and most troubling book ever about the college admissions process."

It has been featured by The BBC, The New York Times, The Huffington Post, Bloomberg, Christian Science Monitor, USA Today, The Suze Orman Show, The Boston Globe, ABC News, and many others.

His second book "How to Be Richer, Smarter, and Better-Looking Than Your Parents" was a New York Times Bestseller. He was also the editor of the Warman's Guide to Antiques & Collectibles and he is a contributing editor with Antique Trader.

He has written for various media outlets including GLAMOUR, The Wall Street Journal, The New York Times Online, The Boston Globe, and The Daily Beast. His is currently working on his next book, the story of the Beanie Babies bubble of the 1990s.

Find out more about Zac Bissonnette at  www.zacbissonnette.net.

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