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We are lucky enough to live in a world with so much content at our fingertips. Millennials especially should take advantage of living in a technological world and use this to help grow and develop. Being a teacher it’s no doubt that I love learning. When I can learn something new not only does it benefit my life, but my students as well.
In college, we watched a lot of TED talks. TED talks are a great way to learn about ideas and watch them in a short amount of time. Below are TED talks or TEDx talks that I have personally watched and have provided my review.
Unconventional Ways to Save Money | Kerry Taylor
Review: Kerry Taylor moved from city life to rural life in Canada. Based on this move she was able to change her perspective on money. The one statement that really stood out to me from this TEDx talk was “We all build wealth one dollar at a time.” Such a true statement that really made me think. The title of this TEDX talk is Unconventional Ways to Save Money and it does fit this talk nicely.
Kerry starts by discussing the idea of collections and how they can cost money. Even if they are not a limited edition they can still run you up in cost. Kerry also connects to needs vs. wants when spending money. Throughout the rest of the talk, Kerry breaks down cost saving tips by switching out disposables, buying clothes from second-hand stores, and wraps up comparing material things that we buy to the cost we make per hour. Is it really worth 30 hours of work to pay for a materialistic item? Watch to find out!
Savvy Connection: The biggest takeaway was a connection to an article that I previously wrote on stores tricking you with your “savings”. Kerry talks about a pair of jeans that were $100, but on sale for 60% off leaving you with only spending $40 on the pair of jeans. Just like Kerry says, “What did you save? You just spent $40.”
When money isn’t real: the $10,000 experiment | Adam Carroll
Review: Adam begins this TEDx talk discussing the unconventional way that his children play Monopoly (one of The Savvy Couples favorite games). Adam introduces the concept of “Financial Abstraction” which he goes on to define as “when money becomes more of an idea or more abstract, it changes the way that we interact with it on a daily basis.” Adam decided to try an experiment on the money decisions his children were making. He changed out the fake Monopoly money to $10,000 real American cash!
Based on this, he saw how it changed two of the strategies of how his children played. Adam wraps up the talk sharing the perspective of using digital currency and the effect it has on millennials and the generations to come. The importance of teaching the younger generations how to save and interact with real currency. Great one to watch if you have children!
Savvy Connection: We have talked about the idea of not needing to balance a checkbook anymore like our parents have. BUT what Adam says about Financial Abstraction makes a lot of sense toward millennials. The concept of not interacting with currency in a tangible way leads to more spending. If you are spending more because you are using credit cards, maybe try a cash system and see how much you save. Dave Ramsey states often that when you use credit cards you tend to spend on average 18% more.
The future of money | Neha Narula
Review: Neha states many of the connections about digital currency like Adam Carroll in the above TEDx talk. Most of us put our money into these institutions that house our money and it is just a database that changes around the zeros. The money transfers from institution to institution without us ever touching it.
With the advancement of systems like cryptocurrencies, the way that we use digital currency allows us to make the transactions of money without the use of these institutions. Cryptocurrencies like Bitcoin and Ethereum are the money of the future. Tune into Neha to learn more about where we might be headed in the future with money and currency.
Savvy Connection: The future of the money can be a scary thing. Everything in today’s world is turning digital. You can literally swipe your phone as a credit card! It’s always a good idea to stay on top of the ever-changing world of technology, especially when it comes to money.
How to Become a Millionaire in 3 Years | Daniel Ally
Review: A somewhat deceiving title lands this TEDx talk in the living free section. Daniel opens up about his past history and how it has led him to the success he has now. One statement that he says that couldn’t be any truer is, “Success means different things for different people.” What one person finds successful might not be how another person views success.
Daniel focuses his talk on promoting inner motivation and not doing things for other people. He holds three key aspects to being successful: (1) reading books, (2) surrounding yourself with people who motivate you, and (3) set higher goals. Packed with a lot of examples coming from an energetic speaker, this talk will definitely inspire you to start living your life in a new perspective.
Savvy Connection: Living a free life! We have put some of Daniels key ideas to be successful into action. He does a great job at making you think about being successful in your own life. One of his major talking points is on the importance of reading books. We try to read more all the time because we know how beneficial reading is. Some cost saving tips on books are to take them out of the library, garage/ book sales, audible books and downloading free books online.
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What if you could trade a paperclip for a house? | Kyle MacDonald
Review: A very cool concept that Kyle had that all started with a red paperclip. Kyle trades many different items/experiences along the way of this “experiment” to see if he can trade all the way to a house. And he does! The lesson of this experience was building relationships and have people from all over collaborate. Life is about the journey.
An everyday item doesn’t have to be just that. Think outside the box and start living the journey. With over 1.5 million views, this is a TEDx talk that you wouldn’t want to miss!
Savvy Connection: The Savvy Couple’s mission is to help others live frugal & free. Kyle preaches about the importance of the journey and making something out of a situation or item that does not seem like it would make an impact. Take risks and try new things! You never know what types of experiences you partake in.
6.How To Multiply Your Time | Rory Vaden
Review: We live in a time now, especially millennials, where everything is moving faster and we have more options to be more productive than in the past. But, why are we not able to get things done in a faster manner. One of the biggest reasons that Rory says, “How we choose to spend our time isn’t just logical, it’s emotional.”
Throughout the talk, Rory breaks down the history of time management and what steps we can put into place to multiply time. The most important way: “What can I do today that will make tomorrow better?” Interesting spin on time and how we can use it to our advantage.
Savvy Connection: In order to live free, you need to make time to live free. Life is not all about catching every episode of your favorite show when it airs or over work yourself with a project at work. Be spontaneous, say yes more to experiences, take more time to be with family and friends.
What have you watched or read lately that has motivated you to get $avvy with your money? Comment below!