Financial Influencers Launch Podcast to Promote Financial Literacy
Financial influencers Rashad Bilal and Troy Millings have launched the podcast “Earn Your Leisure” with the aim of promoting financial literacy and entrepreneurship. The duo, who have backgrounds as a former financial advisor and teacher, respectively, started the podcast almost five years ago to address the lack of financial education provided in schools.
According to the National Financial Educators Council, about one in seven people lost over $10,000 in 2022 due to a lack of financial literacy. Recognizing this issue, Bilal and Millings set out to fill the gap by creating content that educates people about money and empowers them to make smarter financial decisions.
Since its launch, Earn Your Leisure has expanded to include multiple podcasts, live events, and an online educational platform called EYL University. With 1.4 million Instagram followers and 1.4 million YouTube subscribers, the platform has gained a significant following. Its flagship podcast alone receives an average of 3 million downloads per month. In addition, the duo is developing a financial literacy curriculum targeted at high schools.
In a recent interview with CNBC, Bilal and Millings discussed some of the common mistakes people make with their finances and the importance of investing. They emphasized that investing is not exclusive to the rich and wealthy, but rather something that anyone can participate in. They encouraged individuals to start with smaller balances and engage in dollar-cost averaging.
The conversation also touched on the concept of financial freedom and the amount of money needed to achieve it. While the duo suggested that the figure varies depending on an individual’s circumstances, they mentioned that a net worth in the eight-figure range would provide a level of comfort in suburban or metropolitan areas. They emphasized that financial freedom means having enough resources to cover living expenses, support one’s desired lifestyle, and create generational wealth.
When asked about making financial education “cool,” Bilal and Millings highlighted the importance of authenticity and relatability. They strive to present finance in a way that is accessible and relatable to a wider audience, rather than exclusive to the elite. By showing up as their authentic selves, they aim to create a positive learning environment and encourage engagement from their audience.
In their podcasts, Bilal and Millings have also interviewed famous and wealthy individuals from various industries. They observed that even those with significant wealth often lack a full understanding of finance. They emphasized that money does not solve all problems and that financial literacy is essential regardless of one’s financial status.
Through their podcast and other platforms, Bilal and Millings are working towards their mission of promoting financial literacy and empowerment. They believe that educating people about money and entrepreneurship is crucial in helping individuals make informed financial decisions and achieve their financial goals.
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