We’ve all heard the same old money advice: “Cut out lattes,” “pay off all debt ASAP,” “buy a house as soon as you can.”

Sounds responsible, right? Not always. Some so-called “common sense” money habits can actually hold you back from real financial progress.

Here are the top popular pieces of advice that aren’t as smart as they seem — and what to do instead to actually get ahead.

Trending Now: I’m a Financial Advisor: My Wealthiest Clients All Do These 3 Things

For You: 9 Low-Effort Ways To Make Passive Income (You Can Start This Week)

“Numerous humans believe that the very safest thing to do would be to pay off mortgage early,” said Jeffrey Hensel, broker associate at North Coast Financial.

In his practice, he’s witnessed such client attempts tying up liquidity in such a manner only to run into issues of cash shortages when there exists an investment opportunity or an emergency.

“Repaying variable-rate mortgage with reserves or cash-generating investments can in most cases generate greater long-term security,” Hensel said.

Check Out: 3 Signs You’ve ‘Made It’ Financially, According to Financial Influencer Genesis Hinckley

The other typical practice is shunning any debt, Hensel said.

According to CNBC, credit card debt in the U.S. hits an all-time high of $930 billion.

“Whereas high levels of consumer debt are harmful, properly formulated real estate lending may result into better returns,” Hensel explained.

Hensel’s team records an average of 12% to 15% annualized returns on the projects they do with the aim of fixing and flipping by financing as opposed to utilizing cash sources to fund the projects.

Hensel observed that people are occasionally aware that it is conservative to maintain huge balances in one bank. “As a matter of fact, it is risk-focused,” he said.

According to his clients, he said their sense of stability is elevated, as they diversify the reserves within the institutions, maintain balances within an Federal Deposit Insurance Corporation (FDIC) limit to insurance.

Hensel observed that most investors put off estate or trust planning by thinking that it’s not worthwhile until they are older in life.

“In probate lending, I have famously seen families waste months and tens of thousands in litigatory waste,” he said.

He said placing trust documents with plenty of time saved those expenses and maintained directives.

Lastly, Hensel explained that focusing exit strategy on refinancing will go against you. “Any change in the market or stricter lending criteria sinks refinances and makes the borrowers vulnerable,” he said.

To strengthen this solution, he suggested it would be helpful to underwrite every transaction with two or more feasible exits (for instance, a refinance and sale to serve as protection against equity.)

In other words, relying on a single exit strategy — especially refinancing — can leave you exposed if the market shifts or lending rules tighten.

By planning multiple exit routes from the start, you’ll not only protect your investment but also stay flexible enough to pivot when conditions change. In today’s unpredictable economy, having options isn’t just smart — it’s essential.

This article originally appeared on GOBankingRates.com: 4 ‘Common Sense’ Money Habits That Aren’t So Smart: What To Do Instead