If you didn’t already know it, YOLO is an acronym which stands for You Only Live Once. So far as we know, that is certainly a true statement. But when it is stated in connection with finances, it is also associated with a spendthrift attitude, which is probably best summed up with the phrase “spend now and worry later.”
The problem with following that path is multifaceted — with one of the biggest consequences being that all debts eventually come due.
Worse still, it could destroy your financial future.
Nicole Slavitt, CEO of financial services firm Kapitall, explains how to approach your money in a more sensible way in this video.
Read the full article on Forbes.
Constable is an economics/financial markets commentator. Currently, he writes the monthly “In Translation” column for The Wall Street Journal, and a weekly investments column for U.S. News & World Report. He also contributes regularly to Barron’s, TheStreet, Fortune, Forbes.com and other publications.
Prior to becoming a full-time economics journalist/commentator Constable worked in a variety of strategy/advisor roles for major corporations.
His first book, The WSJ Guide to the 50 Economic Indicators that Really Matter, won an economics category award in the 2012 Small Business Book Awards at Small Business Trends. It has been translated into multiple languages. He authored the Rudolf Wolff mini-guides to the London Metal Exchange, and the Real Money Guide to Investing in Gold.