Balancing Act: Saving vs. Spending Wisely

Description

In this conversation, Gareth Shears discusses the critical importance of financial education and literacy, emphasizing the gaps in knowledge that many individuals face. He shares his journey from a career in the police to becoming a charter financial planner, highlighting the need for better financial planning and advice for young adults. The discussion covers the balance between spending and saving, the significance of understanding risk in investments, and the role of budgeting in achieving financial health. Additionally, they explore the impact of social media on spending habits and the pressures of side hustles in today's economy. In this conversation, Gareth Shears and Charlie Randell discuss the critical need for financial education, the distinction between good and bad debt, and the realities of home ownership versus renting. They emphasize the importance of teaching money management skills to the younger generation and the challenges faced in the current educational system. The discussion also touches on the resources available for financial education and the need for discipline in schools to foster better behavior and learning outcomes.

00:00:00 Intro

00:01:04 We Don't Talk About Money

00:05:20 Interest in Finance (Background)

00:07:35 Advice I Wish I Had

00:09:40 Investing and Stocks

00:13:46 Relationship With Money

00:17:36 Know Your Numbers

00:21:27 Running Blind

00:24:34 Dopamine

00:29:25 Side Hustle Madness

00:35:56 What to Change to Be Better Off

00:43:53 Good Debt vs. Bad Debt