Reset Default Settings

01 - @danieljthomason on Personal Finance

In this inaugural episode of Reset Default Settings, I talk with economist and fintech professional Daniel Thomason [https://twitter.com/danieljthomason] about personal finance. We discuss why and how financial illiteracy is the cultural default for most places, and how an individual can respond to that landscape. Links mentioned in the episode: The Interintellect salon [https://www.eventbrite.com/e/personal-finance-1-money-the-thing-that-dare-not-speak-its-name-ii-salon-tickets-136426875457] I’m co-hosting with Daniel on personal finance, coming up on January 23 Three YouTube videos about the cost of living in New York City “Moving to New York City: More Affordable Than YouTube Told Me [https://www.youtube.com/watch?v=1sQvBKir5gU]” “New York City is Affordable: Part 1 of 2 [https://www.youtube.com/watch?v=EQyT8sNWYQ0]” “New York City is Affordable: Part 2 of 2 [https://www.youtube.com/watch?v=SnAKne5OmG8]” An example of a bad cost-of-living [https://www.nerdwallet.com/cost-of-living-calculator/compare/san-francisco-ca-vs-new-york-manhattan-ny] calculator for NYC (it gives the cost of a loaf of bread as $4+, which is bonkers, and under “transportation” lists the price of a gallon of gasoline…for a city where almost no one needs a car) Contents with timestamps: 1:28 — The personal finance cultural default 3:10 — What is the cause of the current cultural default attitude toward money 4:10 — Personal finance is not taught, or taught well, in school 5:45 — Parents don’t teach children about money, student loans, and more 13:08 — Institutional interests and cultural pressures that have an interest in financial illiteracy (colleges, car financing) 17:30 — A desire for financial wellness shortcuts; financial apps like Acorn and Robinhood 22:50 — Context dropping: all advice is dependent on context; financial advice is often divorced from context when it’s offered. 24:00 — Renting versus owning a home/apartment 30:30 — The cost of living in New York City 48:00 — What to do in a world where everyone provides bad advice and information about money and personal finance? 49:30 — I am hosting an Interintellect salon with Daniel on personal finance Subscribe at www.resetdefaultsettings.com [https://www.resetdefaultsettings.com?utm_medium=podcast]

Introducing: Reset Default Settings

Reset Default Settings: a podcast and newsletter about a fish learning to see the water, hosted and written by Daniel Golliher. Subscribe at www.resetdefaultsettings.com [https://www.resetdefaultsettings.com?utm_medium=podcast]