In this episode of Growing Money with Sean Trace, I sit down with Michigan State finance professor and registered investment advisor Steve Schiestel to talk about personal finance basics that actually stick, especially saving habits, wants versus needs, building an emergency fund, and why most people do better being consistent savers than trying to be genius investors.

We start with kid level money questions like what money is, how to save even a little, what to do with ten dollars, and how kids can earn money, then we zoom out into the real gaps in financial education, the psychology behind spending and investing, and why money behavior is often simple but not easy. I share a real dad moment trying to explain banks, limits, and saving to my daughter when she wants a gaming PC, and we get practical about budgeting rules of thumb, how much to save, housing cost targets, and why emergency funds can save a family when life hits. Steve breaks down common money mistakes like not saving early and trying to time the market, explains why low cost index investing and long term discipline beat chasing hype, and we connect it all to the casino style dopamine loops that make investing feel like a game.

We close with a clear guide for choosing a financial advisor, including fiduciary duty, fees versus commissions, credentials like CFP, and the trust factor, plus Steve’s advice to his younger self about taking smart career risks while still building long term financial security.