The sad truth is that 2 out of 3 adults cannot pass a financial literacy test. We think that since you’ll be dealing with financial transactions for your whole adult life, it's probably a good idea to start learning about money early on. In this podcast we explain why.

In this episode:

• 14 is the age you should start learning about money [1:00]

• Money doesn’t buy happiness, but money problems can cause a lot of stress [2:00]

• A lot of stress about money is because people don’t understand money [5:00]

• If you don’t have a reason to not spend your money on a whim, then you will [6:30]

• Most people don’t want to talk about money because they don’t trust their decisions [8:00]

• Why it’s important to understand your own needs and habits around money [12:30]

• 2 of 3 adults cannot pass a financial literacy test [15:00]

• Since you’ll be dealing with financial transactions your whole life, you might want to become educated around money [19:00]

• Why it’s a good idea to have kids start work at 14 [20:30]

• The tale of two twin sisters with two different financial outcomes [22:30]

• You can decide you want to pay 20% more for everything or you can get a discount [28:00]

• Companies will try to sell you and addict you to anything [30:00]

• The art of minimalism and how it serves in identifying the important things in life [35:00]

• The one question you need to ask to determine a truly good deal  [41:30]

• Travel credit card hacks [51:00]

• Homework for this week on money [55:00]

  Resources:

Jessica Dickler, Cnbc.com. The first thing you should know about saving money

Claire Tsosie and Erin El Issa, Nerdwallet.com. 2018 American Household Credit Card Debt Study

Madeline Farber, Fortune.com. Nearly Two-Thirds of Americans Can’t Pass a Basic Test of Financial Literacy