The online landscape is littered with horrible personal finance advice: teenagers promoting day trading strategies, “influencers” flogging questionable investment schemes and people with dubious credentials insisting you shouldn’t invest in a 401(k).
Outrageous statements and flashy graphics grab attention, but there’s also plenty of sound, factually correct money content out there — and some of it is even entertaining. So if you want to learn more about managing your finances while having at least a little fun, here are some ways to go about it.
Audio worth listening to
With podcasts, you have a wealth of options (sorry, I couldn’t resist). One to try is “Stacking Benjamins,” which a Fast Company article accurately describes as striking “a great balance of fun and functional.” Former financial advisor Joe Saul-Sehy and certified financial planner Josh Bannerman mix news, banter and education with the help of regular contributors Paula Pant and Len Penzo, plus a wide variety of guests. (Full disclosure: I’ve been a guest on “Stacking Benjamins,” among other podcasts, and I co-host “NerdWallet’s Smart Money Podcast.”)
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Also, check out two public radio podcasts: “Planet Money,” which explains how the economy works, and “This Is Uncomfortable,” which describes itself as a podcast about life and how money messes with it. Public radio isn’t known for being a laugh a minute, but high production values and good storytelling will keep you engaged.
If you like learning by listening, the social media app Clubhouse also might be worth exploring. This voice-only app allows you to listen and often participate in live conversations about a seemingly infinite number of topics. Consider starting with the Personal Finance Club. (Clubhouse started as invitation-only, but now is open to all.)
Of course, as with all social media, proceed with caution. Having a lot of followers doesn’t mean someone is credible, honest or knowledgeable. Plenty of people pose as experts without the credentials or experience to actually be one. No one is required to disclose conflicts of interest, and your default assumption should be that what you’re hearing or seeing may not be in your best interest.
Information or advice shared on social media is not customized to your unique circumstances, says CFP Lazetta Rainey Braxton of Brooklyn, New York. Research the ideas to ensure they make sense for your situation, and consider consulting an appropriate expert such as a tax pro, CFP or attorney, Braxton says.
What to watch
Suppose you’re more of a visual learner. In that case, …….