Credit, Debt, Compound Interest, Creating Savings and Growing Investments

Produced & Hosted by Amanda Leader

Co-Hosted by Cate Morris of Scout Financial Solutions

In this episode of Masaska, hosts Amanda Leader and Kate Morris reflect on the transition between seasons and the storytelling traditions within Indigenous cultures before turning to the key topic of financial literacy. In the final week of Financial Literacy Month, the discussion focuses on essential personal finance concepts such as credit, debt management, savings, and the power of compound interest.

Joined by co-host Lindell, they provide practical insights on understanding and using credit responsibly, covering topics like the difference between credit scores and credit reports, the impact of credit utilization, and how to build credit strategically. They dive into the importance of distinguishing between hard and soft credit inquiries and offer tips for young adults transitioning into managing their own finances.

The conversation also highlights the dangers of unmanaged debt, particularly when compounded interest increases financial strain, and provides actionable advice for keeping debt in check. They emphasize the significance of building an emergency fund, creating a budget, and being mindful of consumer debt. Additionally, the episode discusses how saving for long-term goals, like retirement, and understanding the role of investing can help foster financial security.