This is the first of a multi-part series on teens and personal finance. The first part of the series is interview oriented, later episodes will be focused on answering some of the questions posed in the interviews. The recording quality isn’t what I’d like due to the fact that I had my MacBook Pro and that was it for recording so there is some background noise.
Questions for listeners and readers:
What is the number one source you would recommend learning about personal finance from? Blogs, books, videos or mentors?
What is the number one mistake you see over and over from people (and maybe yourself) that keeps people from financial growth?
#1 – There are good books out there, of which I have read zero. I tend to get my knowledge from others. That way, I can learn from their experiences and mistakes and my knowledge comes to me previously tested and proved.
#2 – The three most important things anyone must learn, financially speaking, are: 1) Credit cards are evil. 2) Credit cards are evil. 3) Credit cards are evil. There is a reason that banks and retailers throw credit cards offers at you all the time. It’s because they make huge amounts of money off of your bad financial discipline. I think everyone should have one credit card with no balance, for use when nothing else will due (like reserving a hotel). But unless you have serious self-discipline, you shouldn’t *ever* carry a balance on a card.