Chain of Wealth

E5 – David Weliver from Money Under 30

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David founded Money Under 30 in 2006 as a way to document his efforts to pay off $80,000 of debt, and to provide a free resource to help young adults make financial decisions with confidence.

David is a graduate of Bates College and worked previously at SmartMoney Magazine in New York.

Welcome David!

[1:23] So tell us something about you we don’t know.
·      Married with 2 kids
·      Lives in Maine

[2:10] How did you get started with Money under 30?
·      Moved home with parents
·      Needed to fix finances
·      Wanted to help others

[4:1] If you could go back in time and give the 18 year old version of yourself one piece of advice what would it be and why?
·      Don’t spend money you don’t have
·      Glad for mistakes- brought about Money Under 30

[6:21] You have a section on your website about buying cars—something everyone hates. What tips and tricks do you have for buyers?
·      Understand financing costs

[8:44] Do you recommend buying or leasing? How do you make the decision?
·      Most people should buy over lease
·      Buy a used car

[11:50] You had quite a hefty debt bill some time ago, what did you do to get rid of it?
·      $80,000 in debt (student loans & credit cards)
·      Moved home
·      Got a side job at Starbucks

[14:39] How long did this take you? What was the most challenging part?
·      3 years
·      Reduced life inflation

[15:46] What do you recommend to a person who is trying to raise/ improve their credit rate?
·      Pay on time
·      Keep debt minimum- no large balances
·      Get a co-signer
·      Secured credit card

[21:18] It seems like side hustles are the new big thing- what side hustles do you recommend that are easy to start?
·      Department stores


[14:8] Chain of Wealth – FREE Definitive Guide on Debt, teaching you everything you need to know to master debt and use it to your advantage.

Value Link Round

[24:47] What books or other podcasts do you recommend to our listeners?
·      Book: The Investment Answer
·      Podcast: Dough Roller

[26:31] What is the best advice someone ever gave you?
·      Put money into an IRA as a teenager

[27:40] What is your favorite word or quote?
·      Do one thing every day that scares you

[28:24] How can we find you?
·      Facebook
·      Twitter

[28:45] What is some parting advice you have for our listeners?
·      You don’t have to be a numbers person to make informed decisions about money.

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Chain of Wealth

Chain of Wealth

The Chain of Wealth podcast is a biweekly podcast boasting over 500,000 downloads. We interview inspirational guests about money topics. You can learn more about us here.

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