Optimal Finance Daily - Financial Independence and Money Advice 3398: What is Financial Literacy? by Jake Wengroff with I Will Teach You To Be Rich on Essential Finance Skills
Dec 24, 2025
Explore financial literacy redefined as a mindset rather than just frugality. Learn to automate savings and bills for effortless money management. Discover 'hidden income' through negotiation and strategic savings. Start investing early with simple strategies to build wealth over time. Understand the importance of credit in financial health and tackle debt with a practical five-step plan. Embrace side hustles and reinvest earnings to boost financial growth. Shift your mindset to make money management enjoyable and effective.
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Automate Your Financial System
- Automate recurring payments and transfers so bills, savings, and investments happen without thinking.
- You won't miss the money because it goes where it's supposed to go automatically.
Behavior Drives Most Financial Success
- Around 80% of long-term financial success is behavior; only 20% is technical knowledge.
- Focus on systems that reduce behavioral friction rather than obsessing over technical details.
Find Hidden Income By Negotiating Bills
- Call providers and negotiate rates on services like insurance, phone plans, and bank fees to reduce monthly costs.
- Treat the savings as hidden income to funnel into savings or investments.