When it comes to budgeting , advice is everywhere: Your favorite money blog, that one TikTok finance guru, even your well-meaning cousin who swears by cash-stuffing envelopes.

But not all budgeting tips are created equal. In fact, some of the most common ones can actually hold you back, stress you out or just plain not work for your lifestyle.

For You: Mark Cuban Says Trump's Executive Order To Lower Medication Costs Has a 'Real Shot' -- Here's Why

Discover More: 8 Frugal Habits Americans Are Ridiculed for — and Why You Shouldn’t Care

GOBankingRates spoke with Dennis Shirshikov, professor of finance at City University of New York and head of growth and engineering at GrowthLimit , to take a look at a few popular budgeting “rules” that might be worth rethinking.

“Budgeting is a key component of financial management and all advice is not created equal. Through the years, there have been a couple misguided ‘tips’ that people really ought to ignore,” Shirshikov remarked.

Below are the top ones he recommends avoiding .

‘The Best Way To Save Is To Eliminate All Discretionary Spending’

And while reining in things like dining out or entertainment might sound like a quick fix, it can actually do more harm than good.

“ Extreme frugality can cause people to burn out or, worse, leave their budgets all together,” said Shirshikov.

A more measured response would be to appraise discretionary spending and strike a balance — cutting out non-essentials, but still allowing for things that bring happiness and value.

After all, budgeting is not only about denying yourself pleasures; it’s about focusing your spending on your long-term goals.

Check Out: 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses

‘You Need A Cash Cushion of Six Months’ Expenses Before You Do Anything Else’

It’s well-intentioned advice that has been shared widely, but according to Shirshikov, it can be unrealistic for a lot of people, especially when you are just starting out.

Trying to save six months’ worth of living expenses might sound like a worthy ambition, but the reality is, it can take a long time to achieve.

In fact, CBS reports that most Americans can’t afford a$1,000 emergency expense.

“Instead of worrying about a certain number, I’d suggest creating a small emergency fund first, the kind that can get you through a month or two of must-haves.”

With that in hand, he said you can progress to building up your savings cushion little by little. Progress, not perfection is the key.

‘You Have To Know Where You’re Spending Every Dime’

While it’s important to keep track of where your money is going, obsessing over every little purchase can be counterproductive and overwhelming.

“Most people feel smothered and defeated if they have to keep track of everything — including the coffee and the parking meter,” Shirshikov noted.

A better approach may be to use budgeting software or apps with fancy algorithms that automatically do the categorizing for you, saving you the hassle of tracking every penny. The aim should not be micromanagement, but insight.

‘Investing Is Only for the Rich or People Who Can Afford It’

“The notion that you’ve got to have a ton of money to invest with is both an outdated one, and also a harmful one,” said Shirshikov.

The sooner you start investing, the more time your money has to grow. Even small, regularly occurring investments in low-cost index funds can amount to big returns over time, thanks to compound interest .

This myth often prevents people from creating wealth as it makes them think they have to have a big amount of money to begin with — and that’s just not the case.

‘Paying Down Debt Always Comes First’

While debt elimination is unquestionably essential, it isn’t always the most intelligent long-term play to throw extra funds at high-interest debt while ignoring the need to save and invest.

“So many people only end up paying off their credit card in a cycle and never actually growing their wealth,” Shirshikov explained.

He said a better balance would involve splitting your efforts between saving up for emergencies and paying down your higher-interest debts so you don’t fall behind in other important areas of your financial life.

Remember: Budgeting should empower you financially, not limit you.

It’s all about designing a system that services your needs best, and leaving enough space to alter it as your life changes.

More From GOBankingRates

This article originally appeared on GOBankingRates.com : I’m a Financial Expert: 5 Common Budgeting Tips You Shouldn’t Follow