Part 2/10:
Minaj began by discussing the overwhelming noise of financial advice saturating social media—from crypto enthusiasts to NFT scammers. This barrage, which often preys on the financially vulnerable, prompted many to question their financial strategies. After years of managing his finances poorly, Minaj found himself in the same conundrum many face: What to do with the little extra money after bills?
In that pivotal moment, he stumbled upon JL Collins, who would introduce him to the "boring" yet effective principles of money management. Collins' straightforward rules resonate profoundly:
Spend less than you earn
Invest the surplus in an index fund
Avoid debt
These principles, while lacking the glimmer of get-rich-quick schemes, form the bedrock of financial health.