In this episode, I discuss different ways to think about allocating money during high school. How much do you spend on academics versus sports versus extracurriculars? What's the best use of money and why, especially if you don't have an unlimited budget.
0:01:46 Common goal
0:02:55 Are you tracking?
0:03:50 Not for everyone
0:04:45 4 categories of spending
0:05:01 Category #1:Academics
0:06:26 Unlimited book budget
0:08:30 Academics must be a given
0:09:30 Tutors
0:11:05 SAT/ACT prep
0:14:48 Category #2: Advice
0:17:25 Category #3: Sports
0:19:00 If money is no object...
0:20:47 If money is an object...
0:22:10 When to go all-in with your money
0:23:15 Pop quiz
0:25:40 Category #4: Experiences
0:26:50 Thought experiment
0:30:09 What not to spend on Follow us:
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Podcast Host: PrepWell Academy's Founder, Phil Black, has spent a lifetime cracking the code on the world's most competitive programs: Yale University, Harvard Business School, Navy SEALs, Goldman Sachs, Entrepreneurship, Shark Tank (2X), etc. Inside PrepWell Academy, Black teaches students everything they need to know about the college admissions process in a series of expertly-timed, 3-5-minute, weekly training videos starting in 9th grade and continuing through 12th grade [Note: this program can only be joined in 9th or 10th grade]. My specialties include military service academies, ROTC scholarships, Ivy League, and student-athletes.
