The Source Ep 26: Eric Lieberman, Author of Money Skills They Never Taught You: Achieve the American dream of financial independence at any age!

Eric Lieberman spent 23 years as a mortgage banker and broker and still filed bankruptcy in his 20s after racking up credit card debt traveling Europe. On this episode of The Source: Rule Breakers, Lawmakers & Influencers, Eric breaks down the financial education most of us never got: how the "minimum payment trap" keeps credit card companies profiting off your debt for decades, why credit utilization matters more than most people realize (the real magic number is 8%, not 30%), and the "24-hour rule" that can save you thousands in impulse purchases.
 
Eric is the author of the three-part series Money Skills They Never Taught You — written after a conversation with his 17-year-old daughter revealed just how little her generation (and most adults) understand about credit, debt, saving, and investing. In this conversation, Eric and Will cover:
 

• The difference between good debt and bad debt


• Why credit card utilization can swing your score by 100+ points


• The "convenience fee" trap of DoorDash, Uber Eats, and impulse spending


• How to build an emergency fund starting with $20-25 a month


• Simple ETF investing through the S&P 500 and NASDAQ 100


• Why even wealthy families lose generational wealth by the third generation


• The "vanity of money" — how social media distorts financial reality

Whether you're 17 and heading to college or 50 and still confused by your 401(k) match, this episode is a practical primer on money skills that should have been taught in school and weren't.
 
Learn more:moneyskillstheynevertaughtyou.com
Contact Eric: info@moneyskillstheynevertaughtyou.com
 
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