Brandon Brumage came into personal finance the way most people do: he made a few mistakes before having that “aha” moment and wondering, “Why didn’t I learn this stuff sooner?” That question inspired his inner journalist to write a book about the financial trials and triumphs he learned growing up. With his book, Brandon hopes that his words of wisdom will help students prepare for the rest of their financial lives. From discovering how to be mindful about purchases to talking with students and not at them, Brandon leaves listeners excited to change the way they view money.

Details:

• 0:00–1:03 Introduction
• 1:04–4:23 Early money lesson: always have a backup plan
• 4:24–5:27 First few jobs & why it’s important to save
• 5:28–8:48 Advertising & nursing: an interesting pair of majors
• 8:49–14:56 Putting pen to paper
• 14:57–17:49 Deep dive into Strugglehood
• 17:50–20:06 Why personal finance isn’t taught in schools
• 20:07–21:57 Brandon’s approach to budgeting
• 21:58–22:27 A word from NGPF
• 22: 28–28:16 Building great credit from the get-go
• 28:17–30:36 How mental accountability plays into making wise purchase
• 30:37–36:46 Making retirement planning relatable for high schoolers
• 36:47–40:26 Advice for novice investors
• 40:27–44:24 How his family’s financial life has changed
• 44:25–46:49 Talking with kids, not at kids
• 46:50–48:48 Parting words to the educators
• 48:49–49:45 Conclusion

Resources mentioned: 

• Book: Strugglehood: A Practical Guide for Financial Situations No one Bothered Teaching us

Favorite websites: 

• Investopedia
• Nerd Wallet
• Mint

Other sites mentioned:

• Peer-to-peer lending
• Upstart
• REIT (Real Estate Investment Trusts)
• FundRise
• Google Sheets: monthly budget spreadsheet

QUOTES:

• “I really want to change the way [personal finance] is taught and help people at a younger age. It’s so important and it’s just not realized… it’s not made relatable. The important of all that retirement planning, filling out your tax paperwork properly, just saving—I had no idea.”
• “I made it through two undergraduate degrees and one masters degree, and I never took a class on personal finance. It’s very lopsided, and I’d love to see this change…”
• “Find ways to incorporate personal finance in your class. If you can’t teach the class directly, there’s so many different ways you can bring it into your teachings.”

About the Authors

Danielle Bautista

Danielle is a native of Southern California and a recent graduate from the University of Maine, where she braved the frigid winters—a feat in and of itself—and earned her Bachelor's degree in International Affairs. She has a passion for working with non-profit organizations and serving populations in underprivileged communities. When Danielle isn't writing NGPF blog posts, spearheading various outreach projects, or managing contests and flash surveys, you can find her doing some sort of outdoor activity, learning a new hobby, or cracking what she thinks are witty puns!

More posts by Danielle

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

More posts by Tim