DMD 012: Why Traditional Financial Education is Dead
Discover how to take charge of your new financial success journey now.
Welcome to issue #012 of DMD.
Let’s face it. Traditional financial education is not only super boring but simply not working for the following reasons:
Not relevant: Too much focus on outdated concepts that don’t pertain to the digital financial world (banking, e-commerce, investing etc.) that we live in now.
Lack of Practical Application: You likely find yourself equipped with some general knowledge but lacking in actionable steps to manage debts, spend money intentionally, save/invest wisely, or navigate the intricacies of credit scores and taxes.
One-Size-Fits-All Approach: Traditional fin ed models do not address the diversity of financial situations and goals among individuals. Customized advice is often necessary to effectively manage personal finances in a way that aligns with various incomes, lifestyles, and priorities.
Financial Behavior Awareness: Traditional education underestimates the role of behavioral finance. Understanding psychological triggers for spending and saving, personalized budgeting hacks, and tailored financial planning are crucial for effective money management today.
The list goes on as we speak to and hear from so many people (regardless of age) on our nationwide Young Money University financial success speaking tour.
Money Moves
Speaking of the same old same old - this very informative DMD podcast with Kemba Credit Union CEO Dan Sutton is anything but the same financial education stuff. Kemba has over $1.8 billion in assets and serves over 130,000 members in Southwest Ohio, Southeast Indiana and Northern Kentucky area. Dan speaks about:
His one dumb and one smart money move when he was young - have to laugh at his “tricked out apartment” college story and how he paid for it. And he’s certainly not alone.
His version of the difference between a credit union and a bank - really good insight.
How fintech’s like Apple, Zelle, Cash, Venmo and Sofi are starting to be a real competitor to traditional banks and credit unions. But also, where these platforms lack too.
Why credit unions have the highest customer satisfaction compared to banks.
Why “sincere members vs. mere members” is a credit union’s goal to help anyone of any age achieve their financial goals and dreams.
Markets update (stocks and crypto)
The stock market has bounced back big time in the last 10 days.
The S&P 500 (where most of the stocks in your ETF’s and mutual funds are located if you have an investment account) is down 6.5% so far in 2025. It was down more than double that only days ago.
The Nasdaq (which has a heavy concentration of tech related stocks) is down nearly 11% so far in 2025 but far off its lows.
Stock in focus: Carvana (CVNA) - The stock of this online used car retailer where you can buy and sell used cars entirely online has risen 18% in 2025 and 203% over the last 12 months. Wow.
Bitcoin has ticked up to nearly 94,000 and is now almost break even in 2025 and 14% from its all time high (ATH) of $109,000. Let’s see if it breaks 100,000 in the coming days.
Top alternative cryptocurrencies Ethereum, Solana, XRP and Chainlink trade at $1,764, $154, $2.20 and $15.02 respectively with the total crypto market cap just over 3.0 trillion - about $900 billion from an ATH.
Word of the Week - Bootstrap
Definition: Bootstrap, in a business context, refers to the process of starting a company with personal finances or the operating revenues of the new company without seeking major external funding sources, such as investors or bank loans.
Importance: Understanding bootstrapping is crucial for young entrepreneurs (maybe you) who might not have access to substantial external funding or who prefer to maintain full control over your business. It promotes a discipline of cost management and innovation, pushing entrepreneurs to think creatively and work efficiently with limited resources.
Practical Example: If you have a business idea for a custom T-shirt brand, bootstrapping would involve using your savings to buy initial supplies, setting up an online store yourself, and using social media to market your products instead of hiring external agencies or seeking investors.
Side Hustle Differently - Virtual Event Planning
Overview: As businesses and individuals continue to embrace online meetings and events due to convenience and global reach, the demand for skilled virtual event planners is rising. This role involves organizing and managing webinars, workshops, virtual conferences, etc.
How to Get Started:
Learn the Basics: Familiarize yourself with virtual event platforms like Zoom, Microsoft Teams, or WebEx. Understanding features such as breakout rooms, polling, and interactive elements can enhance the event experience.
Network and Market: Start by offering your services to local businesses, schools, or community groups. Use social media, community bulletin boards, or platforms like LinkedIn to advertise your services.
Gather Resources: Develop relationships with vendors such as graphic designers for invitations or digital backdrops, and tech support specialists for larger events. Being able to offer these resources can make your services more attractive.
Offer Packages: Create various service packages ranging from consultation and planning to full management. This allows clients to choose what best fits their needs and budget.
Build a Portfolio: As you gain experience, create a portfolio showcasing your best work, including details like attendee numbers, types of events, and client testimonials.
Potential Earnings: Pricing can vary greatly depending on the event’s size and complexity. Starting with small events, you could charge a flat fee of $150 to $500 per event. As you build expertise, you can manage larger events or even multiple small events per month, significantly increasing your earnings.
Why It Works:
Adaptable Skills: Skills gained in virtual event planning, like project management and digital communication, are highly transferable and in demand.
Remote Flexibility: This hustle can be managed from anywhere, appealing to those looking for work-from-home opportunities.
Growth Potential: As you gain reputation and expand your network, you could move on to larger, corporate clients with bigger budgets.
Action Tip: Start by volunteering to plan a few small-scale events, such as a workshop or new product launch, to get hands-on experience. Use these as case studies to showcase your capabilities.
Virtual event planning is not just timely but offers a scalable path that could even turn into a full-blown business. With organizations looking to engage and connect remotely, adept virtual event planners can carve out a lucrative niche. Let’s go!
The DMD portfolio (stocks and crypto)
I share my personal investments of stocks and crypto and if I make any changes I share why. I automatically invest weekly or monthly into my Roth IRA, SEP-IRA and one of my personal investment accounts (Acorns).
Stocks
ROTH IRA (held with Robinhood)
I own the following ETF’s: VOO (tracks 500 stocks that make up the S&P 500 index), VTI (total stock market that tracks 4,000 U.S. stocks) and VYM (tracks high dividend paying stocks).
I own the following individual stocks as of April 22, 2025: Marathon Holdings (MARA), IonQ (IONQ), Celestica (CLS) and Robinhood (HOOD).
SEP-IRA (held with the Acorns saving and investing app) - this is my “401(k)” because I’m self-employed.
Vanguard S&P 500 ETF (VOO), iShares Core S&P Mid-Cap ETF (IJH), iShares Core S&P Small-Cap ETF (IJR), iShares Core Total International Stock ETF (IXUS), iShares Core U.S. Aggregate Bond ETF (AGG)
Personal investment accounts (Acorns, Robinhood, E*Trade)
Moderately aggressive portfolio (mix of stock and bond ETFs) inside my Acorns account along with individual stocks of Tesla (TSLA), Nvidia (NVDA), Stryker (SYK), Adobe (ADBE) and Visa (V).
MARA Holdings, Robinhood and Money Market (cash) inside my E*Trade account. Another long term investment account.
Basic tenet of investing in stocks - when you automatically invest weekly or monthly into solid growth stock ETF’s and mutual funds like the S&P 500 index you don’t have to worry about the ups and downs of the stock market. Time, based on historical evidence of the U.S. stock market, does the heavy lifting of wealth creation for you. Stocks are your primary foundational investments to winning the money game over time.
Over the last 150+ years the U.S. stock market has given investors about a 10.2% annual ROI. Over the last 50 years, the annual ROI has been closer to 12%. Fantastic annual returns that compound into significant wealth.
Crypto
I now only own Bitcoin (BTC) and Chainlink (LINK).
I have strong beliefs about Bitcoin, to me, represents a store of value asset like gold but even better. Unlike gold, BTC has real scarcity as there only 21 million Bitcoins available. And who knows, with the current global trade war maybe Bitcoin becomes a global settlement currency as some countries are trying to shun or work around the U.S. dollar. Stay tuned.
Chainlink, as their website states, is the backbone of blockchain technology that continues to grow rapidly among various industries to create significant efficiencies. I liken Chainlink to railroad tracks. If you build the blockchain “tracks”, then companies have little options to use potentially the only tracks in town to get from A to B.
Crypto is part of my high risk, high reward investment portfolio as it has the potential to accelerate my overall investment returns over time. Do your own due diligence and certainly not financial advice.
I’ve been using Acorns as one of my investment accounts for years. We have helped thousands of people like you begin their stock market investing journey safely and securely with Acorns.
With over 12 million users and growing, Acorns is one the best ways for new investors (young and old) to own a diversified portfolio of stocks.
In addition to recurring weekly or monthly investing, Acorn’s “Round Ups” feature allows you to also invest your spare change into this same portfolio of stocks/bonds from regular daily purchases like coffee, gas, fast food, etc.
Click on the Acorns logo above or click this link to get started on your investment journey. You will receive a special $40 bonus as long as you set up at least a $5 or more weekly or monthly recurring investment.
Until next time, thanks for being a valued subscriber to DMD and choosing the path of financial rebellion to create a better life for you and others.
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Todd