Financial literacy is of the utmost importance these days. Simply relying on your paycheck isn’t going to cut it anymore. A lot of people have learned the hard way during this pandemic. But what alternatives are there? What if you only have a limited budget?
This week, financial journalist Chuck Jaffe stopped by the pod to talk about financial literacy. In part one of this interview, Chuck talks about the importance of properly allocating your money, why you should invest in the market, and how to invest regardless of your budget.
1:00 – Who is Chuck Jaffe and what is Money Life?
3:38 – Who is Money Life for?
6:16 – Trading vs investing, Schwab slices, and the growing popularity of financial podcasts
9:28 – How to save/invest when you don’t have a big budget and building an emergency fund
15:13 – How to remove the emotion from investing
20:21 – What you should do before investing in a stock
22:01 – Should you invest in the things that you use in your daily life?
26:19 – The impact of the pandemic on large franchises and small business owners
28:09 – What’s the right approach to money management?
30:52 – Best learning resources for new investors
34:13 – Should you purchase investment courses?
To listen to part two of this interview, click here.