“Get a Degree, Get a High Paying Job, & All your Problems Will Be Solved” They Say…

Raise your hand if you have ever heard this from a parent or family member? I bet its literally the only money advice we ever recieve from our parents because asking or discussing anything else about money is off-limits. Or you will be met with a hard smack and called disrespectful.

What I learned is even worse, is believing in this rhetoric. Do you know why? It is stated in finance textbooks all around the world that if you need to have multiple sources of income to live comfortably in today’s economic climate regardless if you make six-figures or more. Take a moment to re-read this fact. This is the second-biggest upset in my Life after learning the first one that there are legit rules to money. When I learned this, my mouth hit the floor followed by anger and anxiety. This means as long as you have one job, no matter how many hours you put in nor how much you are paid, you will never live comfortably.

So what are we supposed to do? From personal experience, being a victim of believing in this “family advice” is that they are not telling us the whole story. Getting a degree can help you skip the line of a minimum wage but it doesn’t teach you financial literacy aka money education for your personal finances. Financial literacy is a start to curb our depression from always struggling to make it to the next paycheck, being overwhelmed by debt, stopping predatory money practices from financial institutions. To teach you multiple methods of creating passive income so you can make money while you sleep.

Within this blog, I dedicate myself to give you the money & Life Skills talk that we all needed growing up. To stop passing on bad financial advice that reinforces generational poverty. To give you a starting point in the confusing finance world and help achieve your vision of wealth. All you have to do is read and ask questions, and I promise your finances will improve tenfold!

-K. Kenneth Davis, #TheTransCapitalist