There is a fundamental problem with personal finance that will forever limit its potential to interest our culture. PF is dorky, or at least that’s how most see it. Try walking up to that girl you have a crush on and tell her she’s got nice assets and see what happens. My guess is things wont work out in your favor.
Few people wake up every morning, excited to check their savings account balance. Or see how their Individual Retirement Accounts are performing. Or calculate how much of their credit card payment is going to interest instead of principle. Moral of the story mi amigos, finances aren’t sexy…yet.
Fortunately, there is a light at the end of the tunnel. PF is making a comeback. Well not exactly, but the crappy economy has definitely helped spark some interest. Did you know the Dave Ramsey show is currently the 8th most popular radio show in the US? Regardless of how you feel about Dave’s teachings, it’s at least encouraging to know people are taking interest in getting some financial education.
Heck even the celebrities are doing their part to teach us a thing or two about money. Take for example Nicolas Cage. According to Forbes magazine, his income from July 08 to July 09 was $40 million. Cage can teach us all a fundamental financial principle, it’s not what you make, it’s what you spend. Even though Cage’s income is exceptionally high, he’s got over $9 million in bad debts and is facing bankruptcy. Thanks Nick for taking the time to teach us we can’t live outside of our means 🙂
While personal finance may not be the most titillating subject out there. I believe we (the financially less stupid) have a responsibility to make personal finance less boring. We have to come up with silly blog names to attract the younger crowd. We have to make ridiculous rap songs about our financial journeys. We have to draw silly cartoons that have nothing to do with finance. Basically, we have to repackage the boring personal finance we all know and dress it up, put it in a pair of high heels, some low rise jeans, and an Ed Hardy t-shirt. We have to make it attractive!
What ways have you discovered that make PF less boring? How do you get people interested in their money? If Jay-Z rapped about retirement, do you think the 20-something would jump on board?