Against the Rules with Michael Lewis The Invisible Coach
22 snips
May 5, 2020 
Jason Brown, an entrepreneur and creator of the Tally app, discusses the hidden pitfalls of the credit card industry and how many are ensnared by confusing financial rules. He shares his unconventional upbringing focused on experiential learning, which shaped his innovative approach to money management. Brown emphasizes the importance of financial coaching, showcasing how tools like his app empower users to tackle debt anxiety. The podcast also highlights engaging anecdotes about overcoming financial struggles and the critical conversations needed in relationships about money.
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Katie Hyland's Story
- Katie Hyland, a public school teacher, struggled with student loans despite qualifying for forgiveness.
- Her loan servicer profited from her debt, causing financial and emotional distress, even affecting her children.
Finance as a Sport
- Think of finance as a competitive sport where companies profit from consumers' financial weaknesses.
- Ordinary people need financial coaching to level the playing field against these companies.
Coaching Inequality
- Richard Thaler suggests that the wealthy receive significantly more coaching than ordinary people.
- This disparity contributes to the widening wealth gap, leaving those who need financial guidance most vulnerable.