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Personal Finance 101

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Introduction

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a la Shmoop

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Hi, welcome to Personal Finance 101.

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We're here with David Siminoff, the founder of Shmoop.

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David did not only found Shmoop,

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but he also spent about 20 years on Wall Street.

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So if you wanna learn about money,

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this is the guy to hear it from.

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So we're gonna get you started with the basics

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in Personal Finance 101.

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And the first question we wanna talk about is just

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why, when you're in high school, should you care about personal finance?

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Why do we have to start thinking about it early?

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Well, it's like anything. If you start early,

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you get to be good over time.

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And the weird thing about the world today

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is that the penalty for not being good,

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for not basically understanding how money works,

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is that you wake up one day

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and you're too old to do anything about it.

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If you know about things in high school,

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your outlook on the world can change a little bit.

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You probably hear a lot of adults say,

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"Boy, if I knew then what I know now,

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I'd live my life differently."

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So our goal is to get you to live your life differently

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and just give you the information.

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If you decide you don't really care about money,

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you wanna be -- And it's okay being poor.

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If you've got really wealthy parents or something,

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good luck. Go cure cancer with that money.

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But if you're not, and you actually need to work for a living and so on,

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then you oughta know at least how the game gets played.

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Awesome.

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[ whoop ]

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Why should you care about personal finance when you're still in high school?

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[ woo! ]

Full Transcript