For detailed show notes:David Weliver: Money Under 30

 

David founded Money Under 30 in 2006 as a way to document his efforts to pay off $80,000 of debt, and to provide a free resource to help young adults make financial decisions with confidence. David is a graduate of Bates College and worked previously at SmartMoney Magazine in New York.

 

Welcome David!

[0:54]So tell us something about you we don’t know.

• Married with 2 kids
• Lives in Maine

 

[1:41]How did you get started with Money under 30? 

• Moved home with parents
• Needed to fix finances
• Wanted to help others

 

[3:32]If you could go back in time and give the 18 year old version of yourself one piece of advice what would it be and why?

• Don’t spend money you don’t have
• Glad for mistakes- brought about Money Under 30

 

[5:52]You have a section on your website about buying cars—something everyone hates. What tips and tricks do you have for buyers?

• Understand financing costs

 

[8:15]Do you recommend buying or leasing? How do you make the decision?

• Most people should buy over lease
• Buy a used car

 

[11:21]You had quite a hefty debt bill some time ago, what did you do to get rid of it?

• $80,000 in debt (student loans & credit cards)
• Moved home
• Got a side job at Starbucks

 

[14:10]How long did this take you? What was the most challenging part?

• 3 years
• Reduced life inflation

 

 

 

[15:17]What do you recommend to a person who is trying to raise/ improve their credit rate?

• Pay on time
• Keep debt minimum- no large balances
• Get a co-signer
• Secured credit card

 

[20:49]It seems like side hustles are the new big thing- what side hustles do you recommend that are easy to start?

• Department stores

 

 

 

Value Link Round-

[24:18] What books or other podcasts do you recommend to our listeners?

• Book: The Investment Answer
• Podcast: Dough Roller

 

[26:02]What is the best advice someone ever gave you?

• Put money into an IRA as a teenager

 

[27:11]What is your favorite word or quote?

• Do one thing every day that scares you

 

[27:55]How can we find you?

• moneyunder30.com

 

[28:16]What is some parting advice you have for our listeners?

• You don’t have to be a numbers person to make informed decisions about money.

 

 

 

 

 

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