Financial influencers — or "finfluencers" — are reshaping how people learn about money. Instead of textbooks or financial advisers, many consumers now rely on social media personalities for guidance on budgeting, investing, and paying down debt. While some offer credible and well-researched information, others blur the line between education and entertainment. And in some cases, they promote strategies that don’t actually work in the real world. Knowing how to spot the difference can make or break your fi ...

Core Insights - A young couple, Ashton and her partner, are facing significant financial difficulties after purchasing a fifth-wheel camper for $115,000 and a truck for $50,000, both of which they no longer use [2][3][4] - The couple's combined income is approximately $145,000 per year, but they are struggling with loans that are depreciating faster than they can pay them off [5][6] Financial Situation - The camper, originally purchased for $115,000, is now valued at about $90,000, with a trade-in offer from Camping World at only $63,000 [4][6] - The truck, which has a loan balance of $50,000, is currently worth around $42,000 on trade-in [6] Expert Commentary - Financial expert Dave Ramsey expressed disbelief at the couple being approved for such high financing at the age of 24 [5] - Ramsey highlighted the urgency of selling the camper, noting that the longer they wait, the greater the gap between the loan balance and the camper's value will become [6]

“What’s the best thing you can do with your money?” Read Next: I Asked AI To Make Me As Much Money As Possible: Here’s What Happened, According to Codie Sanchez Check Out: 6 Low-Risk Ways To Build Your Savings in 2025 It’s a fair question, no matter how strong your finances are. And many people are now asking it of AI instead of a financial adviser. So I posed it to ChatGPT to see what kind of money advice the LLM would give. ChatGPT’s Plan To Max Out Your Money ChatGPT’s answer was what you’d expect: ...

If boosting your wealth in 2026 is one of your New Year’s resolutions, this formula could be a great way to get started. Smart finance always comes down to the numbers, but the letters can also make an impact. Take, for example, the “cash flow” formula. While this simple calculation is more commonly applied to the business world, there’s no reason why you can’t apply it to your personal finances as well. Must Read But there’s a catch; this formula isn’t the actual treasure, but it could be the key that ...

If you’ve dreamed of becoming a millionaire, you’re not alone. To many, hitting this financial milestone signals you’ve “made it.” With assets valued at seven figures, you can wave goodbye to many of the financial stressors that nagged at you when you had less. However, with inflation eroding the value of the dollar with each passing year, being a millionaire doesn’t mean what it used to. As a result, there are more millionaires today than there used to be, and becoming one might be more within your reach ...

Core Insights - Boomers and millennials have experienced different financial trajectories due to the economic conditions during their formative years, with Boomers benefiting from stable jobs and affordable housing, while millennials face challenges like student debt and high housing costs [1] Group 1: Retirement Savings - Boomers are significantly more likely to have saved for retirement and contributed to workplace plans compared to millennials, highlighting the importance of prioritizing retirement savings for younger generations [3] - Automating retirement contributions can alleviate stress and ensure consistent savings over time [3] - Employer matching funds can greatly enhance savings, and Boomers tend to defer more money to take advantage of these benefits [4] Group 2: Employment Stability - Boomers generally hold their jobs longer than millennials, which can lead to increased salaries, better benefits, and more opportunities for employer matching contributions [6] - In a stagnant job market, millennials may benefit from staying in their current positions rather than seeking new opportunities [6] Group 3: Credit Management - Older generations typically utilize less of their available credit, resulting in lower revolving credit utilization compared to millennials, who have seen their credit card balances increase significantly [7] - High-interest credit card debt can lead to substantial financial burdens over time due to interest fees [7]

Core Insights - A 33-year-old woman from Los Angeles is beginning her financial journey, recognizing the importance of personal finance education despite starting later than optimal [1] - She earns $22 per hour working at a grocery store, which raises concerns about her financial sustainability in Los Angeles [5][6] Budgeting and Savings - A Redditor advised her to create a budget that tracks income and expenses, emphasizing the need for an emergency fund covering six months of expenses and debt repayment [3] - After establishing an emergency fund and paying off debt, the focus should shift to investing, with recommendations to save 15% to 20% of monthly income for savings and investments, and potentially 25% to 30% since she is starting at age 33 [4] Income Concerns - The $22 per hour wage translates to $880 per week before taxes, which is insufficient for living in Los Angeles, where the average rent for a studio apartment is $1,706 per month [5][6] - The high cost of living necessitates finding ways to increase income to allow for more investment opportunities [6]

Core Insights - The article discusses common financial misconceptions that individuals have about their spending habits and budgeting practices, emphasizing the importance of tracking actual expenses to gain a clearer understanding of financial health [6][15]. Group 1: Budgeting and Spending Habits - Many individuals believe they have a budget based on rough estimates for categories like food and entertainment, but they often do not track their actual spending, leading to "financial amnesia" [4][5]. - The average American household spent nearly $4,000 on food away from home in 2023, reflecting an 8% increase from the previous year, highlighting the need for better tracking of dining expenses [12]. - Using credit cards can lead to increased spending, as research shows consumers spend an average of $112 when using credit cards compared to just $22 when using cash [9]. Group 2: Emergency Funds and Savings - Many people mistakenly believe they have a rainy-day fund, but they frequently access it for non-emergency expenses, which undermines its purpose [7]. - It is recommended to find a highly liquid account with a competitive interest rate for emergency savings, emphasizing the importance of liquidity for unexpected financial needs [7]. Group 3: Financial Tools and Apps - Budgeting apps like Monarch Money can assist users in tracking spending, account balances, and transactions in one place, making it easier for couples to manage finances together [2]. - Platforms like Acorns allow users to invest spare change from everyday purchases, promoting a more productive use of money [10][11]. - Upside is an app that provides cash-back on various expenses, including dining, which can help optimize spending without sacrificing enjoyment [13].

Core Insights - Codie Sanchez is on a mission to create 1 million financially independent individuals through business ownership, leveraging her nearly two decades of experience on Wall Street [1] - Sanchez provides practical advice on building multiple income streams while maintaining a regular job, emphasizing the importance of diversifying income sources [2] Group 1: Income Sources - The first $100,000 earned typically comes from corporate wages, with a breakdown of 20% salary, 30% carry, 35%-40% bonuses, and 10%-15% commission, highlighting the reliance on earned income [3] - Sanchez emphasizes that salary should not be the sole income source as it may become unstable over time [3] Group 2: Leveraging Time and Expertise - Time can be leveraged to increase earnings, with Sanchez stating that trading time for money is a powerful strategy [4] - A service business can be initiated to help others, as demonstrated by Sanchez's own experience in creating business connections in Latin America [5] - Consulting is another income mechanism, where expertise can be monetized, with potential earnings averaging over $8,000 per month depending on various factors [6][7]

Core Concept - Financial management is no longer exclusive to the wealthy but is a fundamental skill everyone should possess, focusing on systematic learning to avoid financial pitfalls and optimize fund utilization [1][6]. Group 1: Importance of Financial Management - Financial management ensures basic living standards by planning income and expenses to avoid deficits [4]. - It prepares individuals for unexpected situations by maintaining emergency funds for risks like illness or unemployment [4]. - It aids in achieving life goals such as home ownership, education, and retirement through early planning [4]. - Financial management serves as a crucial tool against inflation, as mere savings can lead to devaluation of funds [4]. Group 2: Basic Steps in Personal Financial Management - Define financial goals, such as purchasing a car in three years or retiring in ten years, which will influence fund allocation [7]. - Record and analyze income and expenses using tools like accounting software or spreadsheets to clarify monthly financial flows [7]. - Develop a financial plan that includes fixed savings amounts, investment ratios, and insurance choices [7]. - Continuously optimize and review financial strategies and budgets based on income changes and market fluctuations [7]. Group 3: Common Financial Tools for Beginners - Savings accounts offer the highest safety and are suitable for short-term fund storage [8]. - Bank fixed deposits provide slightly higher returns than current accounts but with lower liquidity [8]. - Money market funds, such as Yu'ebao, offer strong liquidity and very low risk [8]. - Bond products, including government and corporate bonds, are suitable for conservative investors [8]. - Index funds typically outperform most actively managed funds over the long term and are ideal for long-term holding [8]. - Commercial insurance, including critical illness, accident, and life insurance, forms the foundational logic for family protection [8]. Group 4: Common Misconceptions in Financial Management - The desire for quick wealth can lead to high-risk investment traps [9]. - Following investment trends from social media or friends can overlook personal risk tolerance [9]. - Lack of insurance coverage in financial management is akin to gambling without limits [9]. - Failing to diversify assets by investing all funds in a single product exposes individuals to systemic risks [9]. Group 5: Enhancing Financial Management Skills - Learning basic financial knowledge through reading finance books and news helps in mastering relevant concepts [10]. - Engaging in simulations and small-scale investments, such as purchasing money market funds, builds experience [10]. - Choosing the right financial channels, prioritizing reputable banks and brokerage platforms, is essential to avoid unlicensed institutions [10]. - Setting and adhering to financial goals is crucial, as financial management is a long-term endeavor requiring persistence [10].