Many people, because of their lack of knowledge on how money works, ask the wrong people for specific advice. They may ask them because they are friends or feel comfortable with them, not because they have good money skills.
Time and time again I have seen the results of when people have asked their friends, who had bad credit ratings, about buying a car.
One man a took friend with him to buy a car and ended up with a loan of 29.5 per cent ... all because he asked the wrong person. So instead of paying $5000 for his car he ended up paying $10,000.
To make matters worse, if he tried to sell his car after three years it would be worth about $3000.
The scenario could have been avoided if he had sought advice from a person with good money management skills such as a budget adviser.