Many years ago, when I still lived in the US, I started listening to Clark Howard‘s show on WSB. (For those of you aren’t familiar with him, he’s a Nationally Syndicated Radio Host who Specializing in Financial Advice). I recently came across some similar YouTube Videos/Channels and they reminded me how much of a beneficial impact the program had for me.
The advice was really good, but I think the best benefit was from the Empowerment and Explanation. Clark actually talked about changes that anyone can make, to save money and plan for the future. I took some of those steps and started some of the good habits he advised. (Even today I still practice some of the ideas (Right now I’m about 2 years ahead of schedule on my Mortgage, etc)). The show let me start taking steps for improve my finances and by extension my life.
The explanation allowed me to feel a certain degrees of confidence about how things worked and be realistic about how I could actually work in the system. In addition it helped to appreciate what was happening in the News and the Economy. Even when I dealing one on one with a Financial Advisor or Sales Person, I feel more empowered and in control that I understand what is going on.
I think one of the problems today is people who are not getting this background information, so when they see (or worse just hear) about dire financial consequences, they over react and fail to’t make the right decisions. Long ago I was with a friend who was a “Community Activist” she would ALWAYS listen to NPR, in particular she would listen to program where the narrator simply talked about events in an imaginary small town. She and her friends never listened to things like “Clark Howard.” She may have known about the injustices associated with the “Baby Formula industry in the Thrd World*”, but her knowledge of Personal Finance was a bit lack. (In hind sight, this explains why I was frequently giving her advice on those sort of things)).
Its OK, to listen to NPR, but one must expand your horizon. Listen to shows (or read web sites from people) like “Clark Howard“, or “Dave Ramsey” (He’s the one I just stumbled on on YouTube). Their advice can help to empower you. and give you more understanding.
Related YouTube Channels:
- Dave Ramsey (Full Show Episodes and Short Out-takes)
- Free to Frugal (Money Savings Tips)
- Jeff Rose (Ideas on investing and making money. (CFP)
(* Something like this is bad, but it is not something someone has direct control over and it contributes to a feeling of helplessness and has a cumulative negative effect. If your main source of info is just talking out things like this, you will get into the habit of thinking like that)