229: The 6 Money Mistakes High School/College Students MUST Avoid

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.5 • 3K Ratings

🗓️ 6 September 2021

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Most college students know next to nothing about money. Even worse, many of them sign on to expensive student loans with almost no plan on how they’re going to pay it back. While this is the average, some people, like Nathan Kennedy, host of The New Money Podcast, did things differently. Although he overspent a bit going out in college, Nathan graduated with a degree and $40,000 in cash, a MASSIVE amount for any college student. Through applying for grants, working at on-campus jobs, and collecting tip money as a bartender, Nathan was able to graduate in a solid position, allowing him to invest heavily in the stock market during the 2020 crash. Now, Nathan teaches others how they can strengthen their financial position through hard work, planning, and constant content consumption. If you have children who are in high school, college, or are newly graduated, send them this episode so they can have a leg up on future finances! In This Episode We Cover The importance of tracking your expenses and budgeting properly Vision boards, daily logs, and other ways to plan for your success Pursuing grants and scholarships WHILE school is in session Becoming a constant content consumer Money mistakes that many college students make (and how to avoid them) Making time for health, fitness, and no-phone relaxation And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the Bigger Pockets Money Podcast, show number 229, where we interview Nathan Kennedy
0:05.6	from the new Money Podcast and get some advice for our younger listeners to help put them
0:10.2	on the right path financially straight out of high school or college.
0:14.5	I always talk about in content that yes, you're young and you've got a lot of time, but
0:18.3	that's all the more reason to get started now because it'll be easier along the way versus
0:23.2	kind of backloading it and then having to, you know, I don't know, invest like $5,000
0:27.9	a month just to make retirement, you know, and there's a lot of scenarios where that happens.
0:32.5	Hello, hello, hello, my name is Mindy Jensen and with me as always is my high flying co-host
0:37.7	Scott French.
0:38.7	Thank you for, as always, for piloting these interests, Mindy, that I'll always a new one
0:42.7	every week.
0:43.7	I'll do better next time.
0:46.1	Usually, you're pretty good.
0:49.5	Scott and I are here to make financial independence less scary, less just for somebody else to introduce
0:55.1	you to every money story because we truly believe financial freedom is attainable for everyone,
1:00.0	no matter when or where or how young you're starting.
1:03.2	That's right, whether you want to retire early and travel the world, go on to make big time
1:06.2	investments in assets like real estate, start your own business, or maximize your potential
1:10.9	in your early 20s.
1:12.0	We'll help you reach your financial goals and get money out of the way so you can launch
1:15.5	yourself towards those dreams.
1:25.5	Scott I am so excited to talk to Nathan today.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.