We’d all like to feel better about and more in control of our money, but the most important step you can take to really understand your finances has very little to do with money, it’s entirely mental. If you, like me, have ever turned to the internet to figure out how money works, you were probably immediately inundated with all sorts of competing advice such as “it's not how much you make but how much you save” or “everyone can save $1,000 by avoiding lattes for a year,” or “you should invest in penny stocks to instantly become a millionaire,” and other types of questionable advice. It's hard to make sense of all the information that's out there if you don't already know what you want for your money. We don’t all start out at the same place financially. You may have to pay rent in New York City, make your income freelancing, or have a six figure loan from a liberal arts degree, but the one thing we do have in common is that we can gain control of our finances and be more comfortable thinking about the best ways to use our money by learning the basics of how money works. Here are a few resources I used to understand how to think about my money and what I should be doing with it:
To Understand Saving read The Millionaire Next Door by Thomas Stanley and William Danko Regardless of where we live or our financial background, we all ultimately want to have enough money to not have to worry about money. The Millionaire Next Door introduces the reader to average people with regular jobs who figured out how to make their money work for them without having trust funds or superhuman abilities, but by first changing how they thought about their money and then how they used it. Reading about ordinary janitors and teachers who became financially independent without winning the lottery, inheriting money from mommy and daddy, or eating ramen noodles everyday for ten years helped me clear the mental hurdle that wealth was reserved only for certain people and that being financially savvy required some sort of superhuman intelligence.
To Understand Spending read I Will Teach You to Be Rich by Ramit Sethi If you want to live your life without obsessing about money all the time, I Will Teach You to Be Rich is a necessary and vital guide. We all have different goals. I for example, don’t think life is worth living if I can’t have coffee as many times as I want, but I also don’t believe in buying expensive clothes. You might be partial to an Equinox membership but hate spending money on travel. This book helps you decide what’s important to you and then set up an automatic financial plan to help you spend money on things you love and cut down on things you don't care about. I Will Teach You to Be Rich basically sets up the foundation of your money skills by making you think about what you want to use your money for, and what you ultimately want to achieve.
To Understand Investing: If You Can by William Bernstein This is technically not a book but a free pdf (by the founder of Efficient Frontier Advisors) that provides young adults with an easy way to understand investing. Investing seems like a complex, scary world, but Bernstein sets up the basics of investing in an easy to understand manner. Even more fun, he introduces a week-by-week guide through all the books he used to understand money and if you read The Millionaire Next Door you'll already be one step ahead of Bernstein’s program. Knowing how money works is vital to helping us feel better and more confident about tackling our finances. Books on money might not be the obvious choice, but they’re the fastest way to learn from the best, set up a solid financial foundation, and also roll your eyes the next time you come across an article advising you to save money by skipping your latte.
Etinosa Agbonlahor lives in New York City and tweets here.
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MoneyLion’s consumer and enterprise businesses were recognized as winners of Benzinga’s 2022 Global Fintech Awards at this year’s Fintech Deal Day
New York, December 14, 2022-- MoneyLion Inc. (“MoneyLion”) (NYSE: ML), the go-to destination for personalized financial content, products and advice, is proud to announce that it has been named “Best Financial Literacy Tool” at Benzinga’s 2022 Global Fintech Awards. MoneyLion’s enterprise business, Even Financial, was also named as the winner for “Best API.”
MoneyLion and Even Financial were honored alongside other top Fintechs, banks, research companies and more. MoneyLion’s consumer business continues to push financial literacy through innovative and personalized content. With the MoneyLion app, users can view personalized financial content in short-form video format and receive personalized financial product recommendations such as loans, insurance and investing. As MoneyLion’s enterprise offering, Even Financial digitally connects and matches consumers with real-time personalized product recommendations from banks, insurance carriers, and Fintech companies on mobile apps, websites and other digital touchpoints through its financial product search engine and Embedded Finance Marketplace technology. This technology powers both the MoneyLion Marketplace, in the MoneyLion app, as well as more than 1,000 enterprise partners.
“We’re thrilled MoneyLion’s consumer and enterprise businesses were recognized by Benzinga,” said Dee Choubey, Co-Founder and CEO of MoneyLion. “Both awards showcase MoneyLion’s every time you money approach to helping our customers. The financial literacy gap is a huge problem for millions of Americans and we remain committed to reducing its effects through engaging, informative content and key partnerships designed to bring an elevated educational experience to all.”
These awards follow the October announcement of MoneyLion University, where MoneyLion launched its latest initiative aimed at closing the gap in money and financial education across the United States.
“We could not be more pleased with Benzinga’s recognition of our company’s API technology,” stated Phill Rosen, CEO and Founder of Even Financial. “Our technology natively integrates real-time credit decisions and product recommendations from the industry’s largest network of connected financial services providers, offering access and choice to consumers searching for financial products. Our elegant Embedded Finance Marketplace, API and search engine enable any company to add trusted, personalized financial products and services to their business, reaching people when and where they need it.”
Even Financial has been named a listmaker for the Benzinga Global Fintech Awards for the last two years and was a previous award winner. In 2021, Even was selected as a listmaker for Best API and, in 2020, selected as a listmaker for both Best API and Best API Platform. In 2019, Even was awarded the Benzinga Rocky Award.
The annual Benzinga Global Fintech Awards take pride in recognizing and honoring the companies and individuals who are propelling the Fintech and financial services industry forward with the most impressive technology advancements and innovations. A panel of industry experts from a wide range of companies reviewed and judged the nominations. Winners were announced at Benzinga’s Fintech Deal Day on December 8, 2022, where MoneyLion’s Chief Customer Officer Cynthia Kleinbaum spoke on the panel, Expert Growth Hacks For Reaching Underserved Markets.
About MoneyLion MoneyLion is the go-to destination for personalized financial content, products and advice. MoneyLion’s mission is to rewire the financial system to positively change the path of every hard-working American. MoneyLion uses its proprietary data advantage and technology to empower its customers. MoneyLion engages and educates its customers with daily, hyper-personalized money-related and money-adjacent content that is delivered through each customer’s own content feed. MoneyLion provides its customers a full suite of financial and non-financial solutions, bundling its proprietary, low-cost financial products with products that are offered through its marketplace technology and network affiliate partners. MoneyLion also leverages its distinct data, technology, and network advantages to deliver leading embedded finance and marketplace solutions for enterprise customers. Since its founding in 2013, MoneyLion has empowered millions of Americans to take control of their finances and live their best financial life, every day.
For more information about the company, visit https://www.moneylion.com/ and https://www.evenfinancial.com. For investor information and updates, visit investors.moneylion.com and follow @MoneyLionIR on Twitter.
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New York, Jan. 11, 2023 -- Even Financial ("Even"), an independent subsidiary of MoneyLion Inc. (NYSE: ML), and a leading embedded finance marketplace platform, is proud to announce that it was honored in Built In’s “2023 Best Places To Work” Awards. Specifically, Even earned a place on the Hybrid Best Places to Work in New York.
The Best Places to Work Awards, now in its fifth year, honors companies across numerous categories, sizes, remote-first employers as well as in person and hybrid working companies across the U.S.
Built In determines the winners of Best Places to Work based on an algorithm, using company data about compensation and benefits, and also weighs criteria like remote and flexible work opportunities, as well as other people-first cultural offerings.
This announcement follows Even’s recent win at the Benzinga Global Fintech Awards for “Best API.”
About Even Financial
Even is the industry-leading embedded financial marketplace and independent subsidiary of MoneyLion Inc. (“MoneyLion”) (NYSE: ML). MoneyLion is a leading digital financial services and lifestyle content platform serving both consumer and enterprise customers. As part of MoneyLion’s enterprise offering, Even digitally connects and matches consumers with real-time, personalized financial product recommendations from banks, insurance carriers, and fintech companies on mobile apps, websites, and other digital touchpoints through its marketplace technology. Even's infrastructure leverages machine learning and advanced data science to solve a significant pain point in financial services customer acquisition, seamlessly bridging financial services providers (such as SoFi) and channel partners (such as TransUnion) via its industry-leading API and embedded finance marketplaces. Even enables any company to add financial products to its business, with full compliance and security at scale. Even was named one of "America's Best Startup Employers'' by Forbes for 2022 and was named to the 2021 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world. Learn more at www.evenfinancial.com and investors.moneylion.com.