Question of the Day [LGBTQ+ Pride Month]: What action does "Bad with Money" podcast host Gabe Dunn recommend to better your financial habits?
Answer: "Go through your bank statements!"
Questions:
- What are bank statements and what can you learn from them?
- Like Gabe Dunn, have you ever kept track of your spending habits and transactions? How did you feel when reviewing them?
- What are other actions could you recommend to a friend who wants to better their financial habits?
Behind the numbers (Investopedia):
"Go through your bank statements," they replied, without missing a beat. "I highlighted things that showed up too much for my liking. It was painful, it took three days and I cried the whole time. But you have to do it because you can't start from a place where you don't even know what you're doing."
Their honesty about their own financial struggles and how intimidated they felt by the financial system as a young, creative person is probably more valuable than their advice to their readers. Their book carries an empowering message about the importance of financial education and taking control of your life. While they don't claim to be an expert, they aim to demystify concepts like the stock market. "I think they built it up to seem scarier than it is to keep people out, but it's not that intense. So we have drop the fear of it first. I call. I ask a ton of questions. I start at the very beginning. I don't even worry about looking dumb," they said.
In a culture where discussing money and money problems is seen as gauche or even rude, Dunn is encouraging young people who worry about money constantly like they used to, to shrug off their shame and embarrassment and find ways to make things better for themselves.
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To learn more about Gabe Dunn and the "Bad with Money" Podcast, their career, life with their partner, and more click here.
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For more information about how banks are supporting the LGBTQIA+ Community, check out this article from Investopedia
Updated April, 2023
About the Author
Mason Butts
After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.
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