Financial Literacy

It's really surprising how little my peers know about personal finances and how credit works. It seems that the generation before us found it very taboo to discuss such topics and now we're in the situation where many millennials are financially illiterate. This is particularly troublesome as the average higher education debt is at an all-time high; this generation needs more control of their finances more than ever. With the Internet, we have access to the tools to make it all simple.

For me, I find conversation about personal finances extremely constructive when all parties is willing to do it in a proper fashion (mostly willing to listen just like any other conversation). It's the most satisfying when the discussion enlightens others about how personal finance works and how simple it can be using the right tools. 

There are myths that get passed on from previous generations that can harm your financial situation. For example, I know plenty of people that refuse to get/use a credit card because "credit cards are bad". But credit cards are great for building credit, purchase benefits (e.g. extended warranties), and earning rewards as long as you pay them off every month. FYI, debit cards do NOT have the same benefits.

Have any questions about personal finances, credit, or other financial aspects? Shoot me an email, tweet (@matthewtwhuang), or call me. I would love to chat with you. I'm not a professional but an avid learner about finances. Maybe I'll even do a weekly Hangout of some sort (The New Yorker suggested it!).