On this episode of Two Frugal Dudes, we’re reviewing a book that Kevin recently read called Financially Stupid People are Everywhere by Jason Kelly, a book which was recommended by a previous guest on 2 Frugal Dudes!
Kevin has a rule that every time someone recommends a book, he adds it to his Amazon wishlist. Financially Stupid People are Everywhere was one of them. This book is fairly short, so doesn’t require a significant time investment.
If you have nothing else to read, it’s a decent book. However, it’s not one that Kevin would add to the top of his recommendation list. He didn’t like the way the book put people down and took on a negative tone. In the 2 Frugal Dudes experience, financially irresponsible people tend to make poor financial decisions based on a lot of factors, mostly not knowing how to improve or what options are out there. In Financially Stupid People are Everywhere, there’s a lot of blaming and belittling going on (if the name indicating that stupid people are everywhere didn’t indicate this) which isn’t productive.
The book dives into the housing market crash of 2008, how people fuelled the crash and how poorly it was handled. The book takes a tough love approach, which some people will respond well to and others won’t. Kevin feels that it takes on more of a conspiracy theory approach rather than being rooted in facts. Additionally, there is no actionable advice to help people stop being “Financially Stupid.”
Where Our Money Went
Kevin got his car inspected, which is mandatory in Virginia. He usually drops off the car and heads out to do some work. This time, he called an Uber to get home because the service center has been taking longer than usual lately. He got a call from the service center that his car was ready the moment he got home and ended up spending more than he had to getting back to his vehicle.
Sean soft-launched his app on Mastermindhunt.com so his money went toward hosting costs, which costs about $60 per month. The good news is that this approach has put him on the Amazon Free Tier.
Show Links & Related Episodes
- Frugal Cashmates Community
- Jason Kelly – Author
- “Financially Stupid People are Everywhere” on Amazon
Disclaimer: Kevin and Sean are not professional financial advisors. Do not take any advice they give without first speaking with a professional and performing your own due diligence.