How to take charge of your money | Wendy De La Rosa

TED Business

TED

Business, Modupe Akinola, Ted Business Podcast, Business Leadership Podcast, Ted Talks Business, Ted Modupe, Ted Talks

4 • 1.2K Ratings

🗓️ 26 December 2022

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

We hardly ever talk openly about our money. Wendy De La Rosa thinks that’s a costly mistake. She is a behavioral scientist who helps people understand and rewire their relationship with money. A former researcher at The Wharton School and a private equity investor at Goldman Sachs, Wendy is now the co-founder of Common Cents Lab, which works to improve financial well-being for low- to moderate-income people. In this episode, Wendy shares actionable insights on how to prepare and invest in your financial future, explains why the emotional aspect of decision-making impacts how we spend or save, and breaks down why financial insecurity should not be a source of shame—and why the issue of wealth inequality cannot be solved merely by budgeting.

This is an episode of How to Be a Better Human, another podcast in the TED Audio Collective. For more episodes on how to be a little less terrible, follow the podcast wherever you're listening to this.

Transcript

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0:00.0	Ted Audio Collective
0:09.0	Hi everyone, I have a little something different for you today.
0:13.0	We're sharing an episode of how to be a better human, another podcast in the Ted Audio Collective.
0:21.0	It's hosted by comedian Chris Duffy and focuses on the big and small ways we can all learn
0:28.0	to be a little less terrible. Here's an episode we thought you'd like.
0:33.0	And if you want more, follow how to be a better human wherever you're listening to this podcast.
0:45.0	You're listening to how to be a better human. I'm your host Chris Duffy.
0:49.0	When it comes to money, one study found that 78% of people would rather disclose their full dating history
0:56.0	than their full financial history. We would rather have you know who has seen us naked than who has seen our credit score.
1:03.0	And now for me, this might be one of the areas where I'm a little bit of an outlier, actually.
1:08.0	You know, I've talked on the podcast before about how I can get very awkward when it comes to talking about sex.
1:13.0	But when it comes to money, I'm a lot more comfortable. And I think the reason for that is I've had so much practice at talking about money.
1:20.0	Right, I love to do work like giving talks, telling jokes and leading workshops.
1:24.0	But there's not exactly like a set price tag for any of those things.
1:28.0	And so I find out what I should be making by asking other comedians, by asking friends who do similar work.
1:34.0	I find out what I should be charging, what the prices should be, what the costs are.
1:39.0	And I could only do the work that I do by having those kind of open, candid, honest conversations with friends and co-workers.
1:46.0	And obviously, I'm really lucky to even be able to do that. Many people are just trying to survive.
1:51.0	But the flip side even for someone like me is that when I do get paid, it's at unpredictable times.
1:57.0	And it's often an unpredictable amounts. So I'm still learning how to even like chase down the money that I'm owed,
2:03.0	much less what to do with the money once I get it. Should I be saving it? Should I be spending it? How much should I invest in the future?
2:09.0	All of those questions are why I am so excited today to talk to Wendy Delarosa.
	...

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