Even Staff

2016-06-08

Millennial Perspective: Changing How You Think About Money

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.etinosaagbonlahor

Disclaimer: The material provided on this site is not intended to provide legal, investment, or financial advice or to indicate the suitability of any Even Financial product or service to your unique circumstances. For specific advice about your unique circumstances, you may wish to consult a qualified professional. Any information or statistical data sourced by Even Financial through hyperlinks, from third-party websites, are provided for informational purposes only. While Even Financial finds these sources to be accurate, it does not endorse or guarantee any third-party content

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Even Financial Partners with Figure to Add Blockchain-Enabled Personal Loan Products to its Financial Services Marketplace
EVEN
Even Financial Partners with Figure to Add Blockchain-Enabled Personal Loan Products to its Financial Services Marketplace
New York, New York – June 2, 2021 – Even Financial (“Even”), the leading search, comparison, and recommendation engine for financial services, has announced a new partnership with Figure to launch the company’s personal loan products on the Even platform. Leveraging machine learning and advanced data science, Even solves a significant pain point in financial services acquisition by seamlessly bridging financial institutions and channel partners via its industry-leading API and embeddable solutions.   Figure is a fintech company that leverages AI, blockchain, and analytics to deliver innovative consumer financial products with speed and ease. Figure has dramatically decreased the time it takes for consumers to secure loans and has significantly reduced the costs associated with loan origination, servicing, financing, and capital markets execution. The company was founded in 2018 to unlock new access points for consumer credit products that can transform the financial lives of its customers. In addition to personal loans, it provides mortgage refinancing and home equity release solutions, including home equity lines of credit, home improvement loans, and home buy-lease back offerings for retirement.   Figure is an exciting, advanced provider that is driving transformational change in consumer credit,” said Phill Rosen, Founder and CEO of Even Financial. “We’re thrilled to welcome them to Even’s unparalleled network of loan products.”   Shwetabh Gautam, Director of Financial Institution Partnerships at Even added: “We continue to see a strong resurgence in the demand for lending products across the millions of consumers Even surfaces offers for each month. The addition of cutting-edge partners like Figure strengthens our ability to connect consumers with the loans best suited for their unique needs.”   Even offers the largest network of premium, API-connected loan providers. Enterprises and established publishers such as MoneyLion and TransUnion partner with Even to power financial product offers for loans and other financial services including insurance, credit cards, and savings. Within loans, Even continues to expand its vast offering, recently launching products for secured lending, line of credit, and auto refinancing.   The launch of Figure on the Even platform enables consumers to get matched with personal loans of up to $50,000. Figure offers a 100% online application that allows applicants to apply and see their rate in minutes and access funding in as few as two days.   “Phill and the team at Even share our vision of leveraging blockchain technology to make financial services simpler, faster, and personalized. Through the Even platform, we will be able to reach a broader and more diverse set of consumers seeking our innovative credit products,” said Brad Simmons, CMO of Figure.   Even has continued its rapid growth trajectory in 2021, facilitating over $3 billion in consumer credit issued through its API and expanding its platform to over 400 partners. Earlier this year, Even was named one of “America’s Best Startup Employers'' by Forbes for 2021 and placed in the Top 50 of the 2020 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world.    About Even Financial Founded in 2014, Even Financial is a B2B fintech company that is transforming the way financial institutions find and connect with consumers. As the leading search, comparison, and recommendation engine for financial services, Even seamlessly bridges financial institutions (including American Express, Goldman Sachs, and SoFi) and channel partners (such as MoneyLion and TransUnion) via its simple yet robust API and embeddable solutions. Even turns any consumer touchpoint into a comprehensive financial services marketplace with full compliance and security at scale. The company is backed by leading financial services firms and VCs, including American Express Ventures, Canaan Partners, Citi Ventures, Fidelity’s F-Prime Capital, Greatpoint Ventures, Goldman Sachs, LendingClub, and MassMutual Ventures. Learn more at www.evenfinancial.com.  About Figure Figure is transforming the trillion dollar financial services industry using blockchain technology. In three short years, Figure has unveiled a series of fintech firsts using blockchain for loan origination, equity management, private fund services, banking, and payments sectors – bringing speed, efficiency, and savings to both consumers and institutions. The company was founded in 2018 by serial technology entrepreneur Mike Cagney, who also founded SoFi and built the company into a multi-billion dollar business under his leadership as CEO. Learn more at www.figure.com.   Media Contact media@evenfinancial.com
PYMNTS: Even Launches Embedded Finance App on Salesforce
PYMNTS
PYMNTS: Even Launches Embedded Finance App on Salesforce
Now, financial advisors and other businesses will have a way to leverage Even’s platform for their clients. ‘Financial Products for Salesforce’ - Powered by Even, a plug-and-play app available on the Salesforce AppExchange, matches consumers with real-time, personalized financial product offers.   Click below to read more at PYMNTS.com.
Even Named to Forbes’ List of “America’s Best Startup Employers” for 2021
FORBES
Even Named to Forbes’ List of “America’s Best Startup Employers” for 2021
After evaluating 2,500 American startups with at least 50 employees, Even has been named in the Top 500 of Forbes’ second annual list, which recognizes companies that stand out in: employer reputation, employee satisfaction, and growth.   Click below to see full listing.