Dumb: "Econ majors know personal finance"
I like hearing dumb things because then I mock them and the person who said them. Here's the latest: "I'm an economics major! I don't need to learn about money!"
Just because you're an econ major doesn't necessarily mean you know personal finance. That's like saying if you're a programmer, you're expert at using Microsoft Word. Give me a break, please.
Economics is more theoretical and really valuable for some things--and econ majors understand the theory and usually pick up nuances of personal finance that other people don't. But studying economics doesn't directly translate to managing your money--just because you understand multicollinearity or Kaldor-Hicks efficiency doesn't mean you understand how to buy a stock.
Who will I mock next? Send more dumb things my way: ramit@stanford.edu
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