Financial Education is Your Road to Financial Salvation with John MacGregor #5338
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Summary: Lack of financial education creates some of the most pressing problems that people face in their lives. I sit down with bestselling author and financial expert John MacGregor to discuss how to tackle this, and what you can do to get on the right track. When it comes to finances, it can be helpful to learn from the mistakes of others and look for advice on how to avoid financial mistakes. Tune in to hear more on the philosophy behind better financial decision making and to learn how you can change your mindset and practices. Highlights: -Lack of financial education is causing a lot of problems amongst individuals -The percentage of people living paycheck to paycheck has gone up significantly -Many people know what to do with their money but don’t do it—it’s more of a behavioral problem -Learning from people’s mistakes is genius—it’s important to learn why people suffer financially and how to avoid this -There are many underlying beliefs that make us form bad spending habits, and it causes people to get stuck in a bad cycle -Other aspects of your life improve as well when you improve your financial habits and mindset -“Above the line, below the line” is a mentality that helps -Many people think that there is a quick fix to your financial problems—or hope in a box -Small things you do on a daily basis can transcend your entire life -Be, do, and have—it’s important to do all of these things -For many people, it’s not enough of a priority to make the changes they need to make until it’s too late -It’s important to understand what drives people to make specific financial decisions, and what their beliefs are -There’s a direct correlation between financial disorganization and financial destruction -Hope is not a retirement strategy—it’s important to start thinking and planning now for your future Useful Links: Financial Survival Network John MacGregor Bullish on Gold? Why Not Own the Gold Mine? – Robert Kiyosaki, Peter Schiff, John MacGregor Wall Street is Gambling with Your 401(k) – Robert Kiyosaki, Ted Siedle, and John MacGregor