Blogs
Weakonomics.com
http://weakonomics.com
What is Weakonomics?
Weakonomics is a philosophy based on the following principles:
People lack financial education: Weakonomics aims to promote financial education in 2 ways. I aim to inspire others to learn about personal finance to enrich their lives. I also aim to promote personal finance education in our schools. In high school, I took 3 years of Spanish. I’m sure a few of those were required but I mostly took it for the easy A. The easiest A in high school should be a personal finance class. This needs to be a graduation requirement. I’m shocked that colleges do not require a personal finance class. There are a few schools that do, and as new schools are added this requirement I hope to hear about it.
The financial services industry is in shambles: If you have $1 million or more, it is possible to get great financial services at what is (relative to you) a good price. For the rest of us, finding good advice is like a diamond in the rough. There are gems out there, but you need to know how to look. Everywhere you go you encounter ads & salespeople promoting certain products and services. These individuals are compensated via commission and therefore their goals are not fully in line with yours. The industry is full of hidden fees that have become a primary source of revenue.
The government sets a bad example: This is not a political blog, but we will get into legislation around money. We will also talk about the problems with Social Security. I will support certain programs but I do not support one party over the other. We have Republicans that preach one thing and do another, while Democrats promise help for more citizens and fail to get legislation passed.
Weakonomics believes education is the most powerful tool to fix the economic problems we face. The educated consumer can avoid the bad financial services, thus making them unprofitable. The educated citizen can make informed decisions when selecting elected government officials. The educated consumer relies only on themselves for financial support. For additional information I have created the College of Weakonomics
