WEBVTT 00:00:00.000 --> 00:00:02.339 Welcome to another deep dive from empowering 00:00:02.339 --> 00:00:05.940 your finance. Today we're focusing on personal 00:00:05.940 --> 00:00:08.500 financial education. That's right. Specifically 00:00:08.500 --> 00:00:12.019 the topic. Empowering Your Finance, a guide to 00:00:12.019 --> 00:00:14.539 financial education. And we're using their own 00:00:14.539 --> 00:00:17.039 materials as our guide. Yeah, diving right into 00:00:17.039 --> 00:00:19.219 the sword. Exactly. You know, sometimes finance 00:00:19.219 --> 00:00:22.219 feels like it needs, well, a decoder ring. So 00:00:22.219 --> 00:00:25.019 our mission today is to maybe decode some of 00:00:25.019 --> 00:00:27.920 that to really get what financial education is 00:00:27.920 --> 00:00:29.640 and how it can actually put you in charge of 00:00:29.640 --> 00:00:31.719 your financial life. Sounds good. So to kick 00:00:31.719 --> 00:00:34.899 things off, what's the like the central idea, 00:00:35.460 --> 00:00:38.420 empowering your finances, pushing here? Well, 00:00:38.520 --> 00:00:41.439 the core idea is, it's right there in the name, 00:00:41.960 --> 00:00:44.640 empowerment. They really emphasize that financial 00:00:44.640 --> 00:00:47.880 education isn't just collecting facts, it's the 00:00:47.880 --> 00:00:50.659 tool, the fundamental thing that lets people 00:00:50.659 --> 00:00:53.060 take real control. Control of their finances. 00:00:53.259 --> 00:00:55.600 Exactly, control their financial destinies. And 00:00:55.600 --> 00:00:57.619 this control, the way they frame it, it leads 00:00:57.619 --> 00:01:00.840 to more security, greater independence, and well, 00:01:01.020 --> 00:01:04.299 more opportunities in life. Security, independence, 00:01:04.859 --> 00:01:07.060 opportunities, yeah, those definitely hit home. 00:01:07.239 --> 00:01:09.900 They use that specific term, financial empowerment. 00:01:11.120 --> 00:01:12.900 Seems like it's maybe bigger than just one person's 00:01:12.900 --> 00:01:15.519 knowledge. It is, yeah. Their definition covers 00:01:15.519 --> 00:01:18.379 both individuals and, interestingly, communities 00:01:18.379 --> 00:01:21.280 too. Oh, communities. Right, it's about having 00:01:21.280 --> 00:01:25.640 the ability, the capacity to manage your economic 00:01:25.640 --> 00:01:28.689 well -being well. and make informed financial 00:01:28.689 --> 00:01:31.150 decisions. And what's really interesting is their 00:01:31.150 --> 00:01:33.329 point that it's not just about getting rich, 00:01:33.609 --> 00:01:35.890 it's more about building resilience. Resilience, 00:01:35.930 --> 00:01:37.829 okay. Yeah, and achieving that security that 00:01:37.829 --> 00:01:39.930 lets you handle your day -to -day needs and plan 00:01:39.930 --> 00:01:42.109 for the long haul. It's kind of about making 00:01:42.109 --> 00:01:44.829 your money match your life goals. So less about 00:01:44.829 --> 00:01:46.950 the dollar amount, more about feeling in charge. 00:01:47.010 --> 00:01:49.189 That feels like an important difference. Definitely. 00:01:49.450 --> 00:01:51.170 And they brought in a quote from Neville Goddard. 00:01:52.009 --> 00:01:54.709 Financial success is not a matter of luck or 00:01:54.709 --> 00:01:57.230 chance. It is a result of conscious thinking 00:01:57.230 --> 00:02:00.109 and deliberate creation. How does that fit? Well, 00:02:00.209 --> 00:02:02.989 that Godard quote, it really zeros in on the 00:02:02.989 --> 00:02:05.750 active part we play. It suggests empowerment 00:02:05.750 --> 00:02:08.310 isn't just handed to you. It's something you 00:02:08.310 --> 00:02:11.229 build. Through thinking carefully and taking 00:02:11.229 --> 00:02:13.830 deliberate steps with your money, understanding 00:02:13.830 --> 00:02:16.330 and applying the principles, that's what gets 00:02:16.330 --> 00:02:19.310 results. OK, so financial education is how we 00:02:19.310 --> 00:02:21.599 get empowered. But what does financial education 00:02:21.599 --> 00:02:23.960 actually cover? It's got to be more than just 00:02:23.960 --> 00:02:25.860 spend less than you earn, right? Absolutely. 00:02:26.620 --> 00:02:31.000 Empowering your finance sees it as a whole process. 00:02:31.539 --> 00:02:33.780 Acquiring knowledge, yes, but also building the 00:02:33.780 --> 00:02:36.539 skills. And getting a real understanding of how 00:02:36.539 --> 00:02:38.560 to manage your personal finance as well. That 00:02:38.560 --> 00:02:41.400 means principles, concepts, strategies, the tools 00:02:41.400 --> 00:02:43.900 you can use. The whole toolkit. Exactly. For 00:02:43.900 --> 00:02:46.120 making smart choices about budgeting, saving, 00:02:46.400 --> 00:02:48.780 investing, and really importantly, planning for 00:02:48.780 --> 00:02:52.129 what's next. your future. So knowledge and the 00:02:52.129 --> 00:02:54.110 practical skills to actually use it and the goal 00:02:54.110 --> 00:02:55.969 is to give you that so you can take the wheel 00:02:55.969 --> 00:02:59.169 financially and well reach your goals. Precisely. 00:02:59.389 --> 00:03:02.050 They quote Napoleon Hill too. Financial education 00:03:02.050 --> 00:03:04.469 is a powerful weapon. That sounds pretty strong. 00:03:04.849 --> 00:03:08.250 It is strong language. With it you can navigate 00:03:08.250 --> 00:03:10.729 the complex world of money and make informed 00:03:10.729 --> 00:03:13.009 decisions that will shape your financial destiny. 00:03:13.210 --> 00:03:15.550 Yeah, that really paints a picture of the impact, 00:03:15.789 --> 00:03:18.349 doesn't it? It does. Hill's point is that this 00:03:18.349 --> 00:03:21.870 knowledge isn't just academic. It's a real asset. 00:03:22.789 --> 00:03:26.030 It helps you navigate the, let's face it, often 00:03:26.030 --> 00:03:28.610 tricky financial world and make choices that 00:03:28.610 --> 00:03:31.389 actually help you long term. Okay. Which brings 00:03:31.389 --> 00:03:34.469 up the next question. Why is this education so 00:03:34.469 --> 00:03:36.469 needed right now? Are people generally doing 00:03:36.469 --> 00:03:38.810 okay with this stuff already? That's the logical 00:03:38.810 --> 00:03:41.330 next step, isn't it? You'd kind of hope so, but 00:03:41.330 --> 00:03:42.889 I guess the fact we're talking about it suggests 00:03:42.889 --> 00:03:45.590 maybe not. Yeah, unfortunately the info from 00:03:45.590 --> 00:03:48.830 empowering your finance points to, well, a pretty 00:03:48.830 --> 00:03:51.389 big gap. A gap. Uh -huh. They mentioned nationwide 00:03:51.389 --> 00:03:53.289 testing showing that lots of people lack even 00:03:53.289 --> 00:03:55.949 basic financial know -how. The kind needed for, 00:03:55.949 --> 00:03:58.129 you know, qualified financial decisions. Wow. 00:03:58.250 --> 00:04:00.050 It really highlights why resources like theirs 00:04:00.050 --> 00:04:02.770 are so important to help fill that gap. That 00:04:02.770 --> 00:04:04.780 is a bit of a wake -up call. makes you realize 00:04:04.780 --> 00:04:06.879 you probably need to actively look for this stuff. 00:04:07.439 --> 00:04:10.900 They also use a Sir John Templeton quote, something 00:04:10.900 --> 00:04:14.060 about dangerous words. Ah, yes. The four most 00:04:14.060 --> 00:04:16.879 dangerous words in investing are, this time, 00:04:17.279 --> 00:04:20.399 it's different. How does that connect to needing 00:04:20.399 --> 00:04:23.079 education? Well, Templeton's quote is a great 00:04:23.079 --> 00:04:25.939 reminder that some financial principles are just 00:04:25.939 --> 00:04:28.819 timeless. Right. Markets change, economy shifts, 00:04:29.019 --> 00:04:32.819 sure. But the core idea is about risk. reward, 00:04:33.279 --> 00:04:36.279 smart planning, they tend to stick around. Education 00:04:36.279 --> 00:04:38.540 helps you grasp these fundamentals. So you don't 00:04:38.540 --> 00:04:41.060 fall for hype. Exactly. Makes you less likely 00:04:41.060 --> 00:04:43.540 to chase trends or think that the basic rules 00:04:43.540 --> 00:04:46.019 don't apply anymore, which can be costly. Makes 00:04:46.019 --> 00:04:49.439 sense. So given this need, what does empowering 00:04:49.439 --> 00:04:52.480 your finance actually offer people? Well, they 00:04:52.480 --> 00:04:54.300 definitely position themselves as experts. They 00:04:54.300 --> 00:04:56.120 say they provide the best financial empowerment, 00:04:56.560 --> 00:05:00.000 education, and planning. Big claim. Looking at 00:05:00.000 --> 00:05:01.959 their materials, it seems like they cover a really 00:05:01.959 --> 00:05:04.279 wide area. Yeah, the scope looks pretty broad. 00:05:04.480 --> 00:05:06.279 Yeah. They talk about primary financial education 00:05:06.279 --> 00:05:09.459 like the real basics. The essentials. Right. 00:05:09.639 --> 00:05:12.160 All the way up to more advanced personal finance 00:05:12.160 --> 00:05:16.060 stuff, college costs, retirement planning, investment 00:05:16.060 --> 00:05:19.220 strategies, even business and economic news, 00:05:19.660 --> 00:05:22.759 and understanding the global economy. Wow. That's 00:05:22.759 --> 00:05:24.699 comprehensive. It really seems like they're aiming 00:05:24.699 --> 00:05:27.379 for a full picture. And they have these specific 00:05:27.379 --> 00:05:30.259 sections too, like financial counseling education, 00:05:30.759 --> 00:05:33.199 college planning education, retirement planning 00:05:33.199 --> 00:05:35.860 education, and investment planning education. 00:05:36.139 --> 00:05:39.160 Each one has a learn more link. Yeah, those breakdowns 00:05:39.160 --> 00:05:41.579 suggest a more structured, targeted approach, 00:05:41.600 --> 00:05:43.600 don't they? Definitely. Like you can pick your 00:05:43.600 --> 00:05:46.459 path. Exactly. You can focus on what's most relevant 00:05:46.459 --> 00:05:48.959 to you right now, your stage of life, your goals. 00:05:49.439 --> 00:05:51.500 It recognizes everyone's needs are different. 00:05:51.680 --> 00:05:53.600 Right. Not one size fits all. And they're also 00:05:53.600 --> 00:05:56.060 on Flipboard. That's kind of neat. Yeah. A magazine 00:05:56.060 --> 00:05:58.740 called Financial Education. From debt to financial 00:05:58.740 --> 00:06:01.000 freedom. Sounds like a good way to get information 00:06:01.000 --> 00:06:04.439 in maybe shorter bursts. Articles, videos, news. 00:06:04.579 --> 00:06:07.459 Yeah, that multi -platform thing caters to how 00:06:07.459 --> 00:06:09.779 different people like to learn, right? Some want 00:06:09.779 --> 00:06:12.420 a deep dive article, others prefer a video or 00:06:12.420 --> 00:06:14.379 a quick news hit. Makes it more accessible. For 00:06:14.379 --> 00:06:16.120 sure. It's about meeting people where they are. 00:06:16.560 --> 00:06:18.300 And then there's the big one, their online learning 00:06:18.300 --> 00:06:21.879 center. Right. The Evolve Personal Finance Education 00:06:21.879 --> 00:06:26.060 eLearning Center sounds massive. Over 108 topics, 00:06:26.279 --> 00:06:28.560 10 subject areas. And tailored for different 00:06:28.560 --> 00:06:31.920 groups, too. Yeah. Individuals, couples, families, 00:06:32.480 --> 00:06:34.199 college students, even high school students. 00:06:34.360 --> 00:06:36.839 That tailoring is key. It shows they get that 00:06:36.839 --> 00:06:40.120 financial needs change over time. And the range 00:06:40.120 --> 00:06:43.740 of topics, budgeting, saving, investing, taxes, 00:06:44.139 --> 00:06:49.149 it really points to a holistic approach. It really 00:06:49.149 --> 00:06:51.329 does seem like they're trying to offer multiple 00:06:51.329 --> 00:06:53.930 ways in, you know, to learn about managing your 00:06:53.930 --> 00:06:56.689 money. Yeah. So looking at all this stuff from 00:06:56.689 --> 00:07:00.310 empowering your finance, what are the main takeaways 00:07:00.310 --> 00:07:02.490 for someone listening? Well, I think the biggest 00:07:02.490 --> 00:07:04.310 one is that financial education, the way they 00:07:04.310 --> 00:07:06.389 present it, is really about getting control. 00:07:06.529 --> 00:07:09.129 Control. OK. Yeah. It's not just theory. It's 00:07:09.129 --> 00:07:11.230 about getting practical skills and knowledge 00:07:11.230 --> 00:07:13.449 that let you actually manage your financial life 00:07:13.449 --> 00:07:15.509 and future better. Right. Building that security 00:07:15.509 --> 00:07:17.920 and independence we mentioned earlier. Exactly 00:07:17.920 --> 00:07:20.459 that. And I think a second key thing is just 00:07:20.459 --> 00:07:23.480 the variety of resources they have. Whether you 00:07:23.480 --> 00:07:25.759 like reading articles, taking online courses, 00:07:26.199 --> 00:07:28.399 or need help with something specific like college 00:07:28.399 --> 00:07:31.480 or retirement, it seems like they offer different 00:07:31.480 --> 00:07:34.240 paths, caters to different styles, different 00:07:34.240 --> 00:07:36.279 needs. That's really important, isn't it? That 00:07:36.279 --> 00:07:38.040 flexibility, you can kind of pick and choose 00:07:38.040 --> 00:07:40.680 what works for you. And those quotes they included 00:07:40.680 --> 00:07:43.300 are pretty powerful too. Warren Buffett's advice. 00:07:43.560 --> 00:07:46.420 Do not save what is left after spending, but 00:07:46.420 --> 00:07:50.420 spend what is left after saving. So simple, but... 00:07:50.420 --> 00:07:54.040 It's fundamental. Buffett's quote just nails 00:07:54.040 --> 00:07:57.660 a core idea education tries to teach. Makes saving 00:07:57.660 --> 00:08:00.139 a priority, not just, you know, whatever's left 00:08:00.139 --> 00:08:02.480 over. Treat it like a bill you have to pay, almost. 00:08:02.759 --> 00:08:04.879 Kind of, yeah. And then Robert Kiyosaki adds 00:08:04.879 --> 00:08:07.970 that other layer. If you want to thrive... You 00:08:07.970 --> 00:08:11.370 must challenge the status quo and get the financial 00:08:11.370 --> 00:08:14.529 education necessary to succeed. That's really 00:08:14.529 --> 00:08:16.730 a call to action, isn't it? It really is a reminder 00:08:16.730 --> 00:08:18.470 that you need to be proactive about learning 00:08:18.470 --> 00:08:21.009 this stuff, especially today. It's not just nice 00:08:21.009 --> 00:08:24.350 to have. It's, well, necessary. Yeah, essential 00:08:24.350 --> 00:08:27.069 for long -term success in this economy. So when 00:08:27.069 --> 00:08:29.509 you look at empowering your finances resources, 00:08:29.750 --> 00:08:31.810 it really comes down to building that foundation, 00:08:32.470 --> 00:08:34.429 understanding the basics and then just keeping 00:08:34.429 --> 00:08:36.610 learning. Absolutely. It's an ongoing thing. 00:08:36.750 --> 00:08:40.029 And the huge range of topics they cover, from 00:08:40.029 --> 00:08:42.909 the simple stuff to complex investing and retirement, 00:08:43.409 --> 00:08:46.149 it really does suggest a very complete approach 00:08:46.149 --> 00:08:49.070 to, well, empowering your finance. Yeah, it covers 00:08:49.070 --> 00:08:52.389 a lot of ground. We hope this deep dive has maybe 00:08:52.389 --> 00:08:55.149 made things a bit clearer about what financial 00:08:55.149 --> 00:08:58.029 education involves and what places like empowering 00:08:58.029 --> 00:09:01.029 your finance offer. So thinking about your own 00:09:01.029 --> 00:09:03.769 situation, what feels like the most important 00:09:03.769 --> 00:09:06.370 first step you could take on your financial education 00:09:06.370 --> 00:09:08.470 path? That's a really good question to mull over. 00:09:08.529 --> 00:09:10.929 Maybe checking out one of those learn more links 00:09:10.929 --> 00:09:14.289 that jumped out. College funding, retirement, 00:09:14.750 --> 00:09:16.809 getting a handle on investing. Whatever feels 00:09:16.809 --> 00:09:18.929 most relevant right now. And maybe a final thought 00:09:18.929 --> 00:09:22.059 to leave you with. How might actively going after 00:09:22.059 --> 00:09:25.259 this financial knowledge do more than just improve 00:09:25.259 --> 00:09:27.740 your bank balance? How might it give you a greater 00:09:27.740 --> 00:09:30.299 sense of control and freedom in your life overall?