VIDEO TRANSCRIPT: Focus Group Financial Opinions

Introduction

SPEAKER: Welcome to Focus Group. I'm a crypto enthusiast. I dabble in banking, but more so in crypto. I have a degree in economics, but I'm not an expert. I am a college student. When it comes to banking and financial stuff, it really revolves around student loans for me right now. And now we're going to play the overrated or underrated game.

Overrated or Underrated Game

SPEAKER: TikTok for financial advice, overrated or underrated? Do I need to answer? It's totally overrated. You just don't know who to trust online. Anyone can say their opinion, and I'm not going to take one person's opinion on TikTok.
SPEAKER: Honestly, underrated. For people my age, we're on TikTok a lot, and sometimes they'll be the perfect financial TikTok that gets to me in other ways that maybe when I otherwise hear it, it wouldn't really have the same impact. Do your research. Try and find an accumulation of people that kind of have the same idea rather than just their one thought. I mean, would you take financial advice from some random influencers now?
SPEAKER: Having multiple credit cards. I'm going to say overrated. I know people have a ton of them for all the points and benefits. I take advantage of the perks. I don't fall in the trap. I don't owe them money. I don't pay their 25% interest, and that's great.
SPEAKER: I personally don't even have a credit card yet. I think that multiple credit cards, it would be a financial burden in the future.
SPEAKER: Mobile banking, underrated. I know I'm a crypto guy, but I still have banking online. Most of my banking that I do is through my phone. It's just way more convenient than having to go to the bank all the time.
SPEAKER: Having cash. Honestly, underrated. I feel you always do need cash. Some places still only take cash. You know, to keep a certain amount of money cash is not a bad thing. I wouldn't keep most of your money cash. Having cash as that backup is really important.

Rapid Fire Round

SPEAKER: This next round is rapid fire. NFTs, underrated.
SPEAKER: Overrated.
SPEAKER: Overrated.
SPEAKER: Big banks, overrated.
SPEAKER: Overrated.
SPEAKER: Overrated. I would personally want to seek out a credit union.
SPEAKER: Cryptocurrency, underrated.
SPEAKER: Overrated.
SPEAKER: Overrated. The idea of cryptocurrency is great per se. It's just that there are so many projects that literally make people lose faith in this technology. Crypto and the technology didn't fail. It was the people behind it that did. You want to invest in the technology. You don't want to throw your money in there to just try and get gains.
SPEAKER: Elon Musk. I don't know how to answer this one. I'm sorry.
SPEAKER: Dogecoin. Overrated.
SPEAKER: Underrated. In the past, I would say overrated. Now people are making more and more improvements on it, so I'm going to say underrated.

This or That

SPEAKER: And the next round is this or that. Robo-advisor or in-person advisor.
SPEAKER: In-person advisor.
SPEAKER: In-person advisor. When you deal with a person face-to-face, you might be induced to make a certain choice. The psychology of dealing with a seller or just having the information making the decision on your own.
SPEAKER: Venmo or Cash App. Well, I only have Venmo, so... Equivalent. I don't use either.

Physical Challenge

SPEAKER: And it's time for the physical challenge. Your challenge is to write a check to the landlord for $1,326. I've never written a check before. I hate checks. I never write checks. I really hope I'm doing this right. Bam. Is it close enough? Somehow? A little? $1,326 and 00100. Rent, signature, date to the landlord. Anybody have the dollars? Oh, sh**. I honestly just based it off of watching my parents growing up and trying to see what I could remember from that. In 10 years in the United States, I never had a checkbook. I do not do checks. Well, I hope I didn't do too bad.