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We've all had it, that sick in the stomach feeling that tells you you've just made a bad decision. It can come right after a major purchase or just after signing a contract for services. The questions is, how can we avoid it? What are some warning signs that will keep us from walking into a situation and over a cliff?

Here are 10 signs you are getting bad financial advice.

1. The pitch starts off with the words "It's so simple..."
2. The person talking is perpetually borrowing money from you
3. The words "it's not that much debt when you think about the long term" or something like them are involved.
4. The advice centers around best case scenarios
5. The worst case scenario involves you going to jail
6. The scheme will allow you to avoid all those pesky taxes "normal" people pay
7. The person talking makes more money off providing advice than taking the advice they are offering
8. It involves going into business with family
9. At some point you say to yourself, "Why isn't everyone doing this?"
10. The person explaining the advice can't answer all of you questions

Now, it is possible to get good advice that still meets some of the above criteria. However, if you are finding more of the above are true than are not, run. By thinking carefully about the advice before you take it, you will avoid the "What have I just done?" feeling.

Learn more about this author, Elizabeth M. Hammons.
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