Around kitchen tables and family WhatsApp groups, certain financial “truths” pass unchallenged from one generation to the next. “Property always wins.” “Cash is king.” “Insurance is a scam.”

These sayings often carry the tone of experience, yet they can quietly sabotage modern financial security.

Take the old belief that property never loses value. That held when interest rates were low, wages were stable, and municipal services still worked.

But today’s buyers face rising rates, unreliable utilities, and stagnant prices in many suburbs. The truth is that not every brick builds wealth anymore.

“Cash is king” once made sense in volatile economies. But sitting on savings that lose value to inflation means your rands are eroding while you sleep. The same goes for shunning insurance or medical cover. A single hospital stay can wipe out years of careful saving.

Psychologists say these inherited beliefs stick because they come wrapped in trust and emotion. When a parent warns you about debt or risk, they’re passing on caution born of struggle, not malice. Yet clinging to outdated wisdom in a modern economy becomes its own risk.