The Intricacies of Interest: The Backbone of Mastering Your Finances

Author Jake Cousineau explains why it’s important to teach interest and budgeting to students — and how to learn as an adult.

How can you understand complex personal finance topics as an adult?

What strategies can young people use to achieve financial independence?

Personal Finance Nerd Kim Palmer talks to Jake Cousineau, author of How to Adult: Personal Finance in the Real World, about the significance of personal finance education and the intricacies of interest rates to help you understand the impact of financial decisions on your future. They begin with a discussion of the importance of teaching personal finance to high school students, with tips and tricks on budgeting, investing, and managing credit. Then, they discuss the impact of APR on loans, the long-term financial effects of interest rates on major purchases, the financial impact of having a good or bad credit score, and the transformative power of automated savings and index fund investments.

In their conversation, the Nerds discuss: personal finance, investing, budgeting, financial literacy, credit score, compound interest, index funds, retirement savings, student loans, APR, financial education, wealth building, financial independence, automated savings, money management, financial health, financial planning, loan repayment, interest rates, saving for the future, debt management, financial freedom, budgeting pitfalls, financial knowledge, credit management, financial wisdom, financial illiteracy, personal finance books, managing money, smart budgeting, housing costs, transportation costs, food budgeting, and financial confidence.

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com.

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