Of all the challenges facing millennials, there is one that feeds into all the others combined, and that is financial illiteracy. MeaningfulMoney was set up to address this because understanding overcomes inertia; with knowledge comes power. Today I want to talk about what I think should be done to address financial illiteracy, and to share a bunch of resources that I know you will find useful.
Watch the video of the podcast
This podcast is brought to you with the help of Seven Investment Management, who specialise in multi-asset investing, something I talk about a lot, and which I think should form the core of most people’s investments. 7IM have been helping me out here on MeaningfulMoney for ages, and I'm very grateful.
You can see what they’re up to at 7im.co.uk
Millennial Challenge #6 – Financial Illiteracy
Most of us leave school with no formal financial education. If we're lucky, we may have sat through some PSHE lessons, with a well-meaning teacher trying to teach us what APR is, while trying to maintain control of a disinterested class.
Some of us have parents who taught us how to handle money, but many of us never had that experience. I for one had precisely zero financial education from my parents, though they taught me well in many other areas.
Let me talk first about what I would like to see happen to improve financial education for school-leavers, and some other thoughts, for what they are worth. And then I’ll cover everything you need to do to improve your own financial savvy.
Resources mentioned in this episode
Book: Reset by David Sawyer
Blog: Money To The Masses
Blog: From Pennies to Pounds
Blog: Much More With Less
Blog: Charlotte Musha
Blog: The Escape Artist
Blog: Mr Money Mustache
Podcast: Maven Money
Podcast: The Financial Wellbeing Podcast
Podcast: Informed Choice Radio
Podcast: Money To The Masses
Podcast: Smart Passive Income
Podcast: The Janet Murray Show
Podcast: Money with Rob Moore
Podcast: The Dave Ramsey Show
YouTube Channel: Mama Fur Fur
YouTube Channel: Financially Wise Women
YouTube Channel: Our Rich Journey
Website: Meaningful Academy
Course: Learn How To Invest– Don't forget the discount code of PODCAST25 when you sign up
And for a transcript of today's show, click the big blue button below!
Share the love
If this show is of any use to you, it would help me massively if you would take the time to leave me a review on iTunes. This has a huge impact on keeping me near the top of the rankings, which in turns helps more people to find the show and to subscribe. Just click the button below: