Financially Well Off

Crushing Debt Can Lead to Amazing Results

Robert Farrington a successful online entrepreneur. His work has been featured in major sites such as Forbes, Huffington Post, and many more. He's dubbed as America's Millennial money expert and is the founder of The College Investor--the go-to resource for Millennials looking to improve their finances.

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Resources Mentioned

3 Key Takeaways

  1. Start investing as early as possible–you won't regret it.
  2. Know your financial numbers to make smarter decisions.
  3. Investing in yourself through books, blogs, and other forms of content is important to improve your finances.

Podcast Interview Notes:

1. What would you recommend for students who have accumulated debt?

Get organized. I find that most people who are struggling with debt haven’t laid out their numbers. It’s important to create a budget to know where they stand–to make smart financial decisions.

2. What would you recommend to a student who wants to apply for scholarships? Is that even a realistic approach?

Scholarships are amazing–sadly too many go unclaimed. The problem is many people fail to follow instructions and disqualify themselves form receiving aid. I had a friend who earned over $100,000 in scholarships and paid for all of his school with free money. If you want to earn scholarships, follow the instructions and share your story.

3. What would you consider a worthwhile investment for your life or your career that has impacted you in a positive way?

I read a lot. I read books, I blogs, Reddit, and how-tos. Number two I would say networking. Although I consider myself an introvert, getting out to meet people, emailing, and reaching out has been the best thing I’ve done.

4. What is the best financial advice you've received?

Save until it hurts. It’s not the same as saving 10% or 50% of your income. You save until you don’t know how you’re going to pay the bills–because you’ve put so much money into your 401K or savings account.

5. Is there any book(s) that you'd recommend?

The Daily Stoic by Ryan Holiday. I’m a big believer in stoic thinking and having the mindset of the world around you doing its thing. Another book is Your Money or Your Life by Vicki Robin. It’s all about your relationship with your money, your life, your goals. 

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About the Author Chris

Chris writes personal finance and productivity articles for software companies. He gets fresh ideas through continuously investing in himself and interviewing successful entrepreneurs.

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