Watch-it-Wednesday: TED Talks - One Life-Changing Class You Never Took
In this inspiring TED Talks, Alexa von Tobel, founder and CEO of LearnVest - a leading personal finance website - discusses the importance of financial literacy.
She opens with some startling statistics:
- Money is the number one thing young people worry about.
- 76% of people feel out of control when it comes to your finances. That's three out of four of your friends, classmates, family members, or co-workers!
- 61% of Americans live paycheck to paycheck.
She goes on to say that:
- 25% of all home loans are rejected - namely because those applying have not taken care of their credit score.
- 31% of American's have no retirement savings.
- Money is the number one cause of fights in marriages.
However, by seeking out financial literacy and becoming as educated as possible about our money matters - and passing this knowledge onto future generations - we can fight debt, retire on time, and sleep easier knowing that we're financially stable.
Alexa von Tobel's Five Money Principles to Live By:
- Follow a budget. Live beneath your means.
- Be debt free. Pay cards in full.
- Have an emergency savings account.
- Negotiate your salary.
- Save for retirement - now. (Yes, in your twenties!)
What's the best money advice you've ever received? How (who, where) did you learn it, and how has it changed your life for the better? We'd love to hear about it!