Thanks to Jason Vitug, founder of Phroogal and author of recently released You Only Live Once: The Roadmap to Financial Wellness and a Purposeful Life, for joining me on the NGPF podcast.  Jason shares his personal story of how he went from a senior executive role in financial services to devoting his time and talents to improving financial literacy. While many focus on the mechanics of how to be financially capable, Jason takes a more philosophical approach. He highlights the importance of creating a long-term vision for one’s life as a starting point to setting any financial goals.  Jason also shares some entertaining stories of what he has learned on his “road trips” over the past two summers. Enjoy!

Details:

• 0:00~1:41 – Introduction
• 1:41~6:01 – Jason’s summer travels
• 6:01~9:16 – Philosophy and approach to financial literacy
• 9:16~13:48 – Envisioning the life you want to live
• 13:48~17:37 – Emotions and money
• 17:37~20:28 – Experiences and money
• 20:28~26:25 – What’s on students’ minds?
• 26:25~26:44 – A word from our sponsor, Next Gen Personal Finance
• 26:44~36:43 – Jason’s life story
• 36:43~39:23 – Best presentation on the trip
• 39:23~40:55 – Jason describes his company, Phroogal
• 40:55~41:18 – Favorite financial habit
• 41:18~42:25 – Favorite budgeting app
• 42:25~43:31 – Right age to get a credit card
• 43:31~43:41 – Index funds vs. stocks
• 43:41~44:06 – Favorite item he has purchased for under $10
• 44:06~44:44 – Billboard in front of every high school in America; what would it say?
• 44:44~46:16 – What to teach if you only have 45 minutes  with high school students?
• 46:16~48:17 – How can you teach students to envision their futures? Activity ideas
• 48:17~48:58 – Final thoughts
• 48:58~50:08 – Conclusion

• Jason’s recent book: You Only Live Once: The Roadmap to Financial Wellness and a Purposeful Life
• Jason’s company, Phroogal
• Apps
  • Digit.co
  • Acorns

• “Money is personal, money is emotional. The numbers are important and you need accurate numbers, you need an accurate understanding of your financial situation but we also need to have that conversation about emotions. It sounds philosophical but it is important because most of us spend the way we spend because of our emotions”

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.