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Money is a tough subject. There are myths, attitudes, and behaviors that show us how we feel about managing money. The way we view and interact with money at home influences our confidence in forecasting and budgeting as stewards of the company we work for. Jess Dewell talks with Dan Andrews to discuss financial literacy and success.
Starting the Conversation…
How do we build our financial acumen?
How do our views filter in when planning and evaluating our part of forecasting and budgeting?
Host: Jessica Dewell
Guest: Dan Andrews
What You Will Hear:
Concrete desserts do relate to financial success.
State of financial literacy today.
Some money mistakes, and how we use money.
Good money habits – talk openly about money.
Money in organizations, more than a budget.
Statistic: people at age 60 or over have a lot of debt.
Compound interest and Einstein and other parts of life.
Two financial documents for life and work.
Net worth versus self-worth.
The most important thing when planning and evaluating finances.
We all have money weaknesses.
Bring in self-reflection and self-responsibility.
Questions to ask to avoid being taken advantage of.
Live Audience Question: Can you compare and contrast income vs wealth?
For those that have high confidence around finances, what can they do for a quick check-in.
It’s BOLD to be financially literate.
Notable and Quotable:
Dan Andrews: Money is so taboo that it isn’t even brought up as taboo.
Dan Andrews: We learn what a rhombus is in school but we don’t learn anything about paying taxes.
Dan Andrews: All decisions every human makes has a financial component.
Jess Dewell: My experience with money going into adulthood is from observing my mom and dad.
Jess Dewell: Budgeting and forecasting responsibility in companies is segmented, as there are more people involved.
Dan Andrews: People are so much more excited to talk about money in organizations: The Budget, The Budget, The Budget!
Dan Andrews: You make a plan and the universe laughs.
Dan Andrews: You can get a loan for college. You cannot get a loan for retirement.
Dan Andrews: Think about compound interest in other parts of life: compound skill and compound knowledge.
Jess Dewell: Money is only one part of what defines us.
Dan Andrews: Don’t compare yourself to others, have your money life reflect your values.
Dan Andrews: I felt an obligation to the people that come behind me to be confident about money.
Dan Andrews: Step back and have intentionality with your money life, personal life, and professional life.
Jess Dewell: When we label ourselves, it doesn’t mean it defines us for life. We can change as we change.
Dan Andrews: Do something with your curiosity to learn more.
Dan Andrews: Money is a 21st-century survival skill.
- Review Your Year: An Exercise to Reflect on Your Year’s Pros-and-Cons
- For Parents: How We Help Your Adult Children with Financial Literacy & Personal Growth
- Planet Earth 2
- National Finance Capability Study
- Money Quotient
Tags: financial literacy, transparency, soft-skill, mindset, confidence, responsibility, self-reflection, realistic expectation, pressure, cash flow, balance statement, positioning, prioritize
Join us LIVE on July 24 10amPT/11amMT/1pmET. You can watch us here, on youtube or Facebook LIVE