Discussing the Impact of Financial Literacy with Ryan Harris

Author: Adam Contos
Published: Wed 15 Jul 2020
Episode Link: https://share.transistor.fm/s/cda588c6

Our guest on this episode of Start With A Win is Ryan Harris, a 10-year veteran of the NFL, Super Bowl champion, author, thought leader, and motivational speaker. Ryan has been a guest on the show before, discussing mindset and leadership. Today he joins us to discuss financial literacy. He addresses how most children are not taught how to handle money when they are growing up. So, when they grow up and have money of their own, they don’t know what to do, and they could potentially end up in trouble. You may have heard the statistics about the number of professional athletes and lottery winners who end up bankrupt within a few years of acquiring their wealth.

Ryan says that widespread financial literacy would change education, make our communities safer, increase homeownership, create a happier workforce, increase social justice, and reduce mass incarceration. Ultimately, positively impact the number of Americans with savings, and help more people experience the emotional aspects of having purchasing power. Regarding savings, in particular, Ryan says:

Saving money is the hardest thing you will have to do as an adult.
If you want something, delay your purchase for at least three months, and you might find that you don’t want it anymore, or you can get a much better deal.
Understand the difference between price and cost based on your budget.

In addition to the books listed below, Ryan recommends that you learn about financial literacy by reading about wealthy people and by looking around you. If you are considering buying a home, talk to a real estate agent about the tax advantages and to understand how it could positively impact your financial well-being. If you have some money and you want to learn more about the stock market, the best way is to invest a little bit and learn as you go.

Links:

“Think and Grow Rich”: https://www.amazon.com/Think-Grow-Rich-Landmark-Bestseller/dp/1585424331

“Rich Dad, Poor Dad”: https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194

“Millionaire Next Door”: https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474

“The Richest Man in Babylon”: https://www.amazon.com/Richest-Man-Babylon-George-Clason/dp/1505339111

Connect with Ryan:

https://www.ryanharris68.com/

https://www.youtube.com/channel/UCMeTDEXXqzpFVbT4SUq5O4A

https://www.instagram.com/ryanharris_68/?hl=en

https://twitter.com/salaams_from_68

https://www.facebook.com/ryanharris68/

Connect with Adam: