When thinking of money, people often think of two things: the ability to buy happiness, and the root of all problems. But, these problems must start somewhere before the money, right? For the “Finance Bros,” it most likely starts with a single click of a button. The financial industry can be an exciting thing, but oftentimes the allure of wealth conceals the harsher reality of its influence. Jan. 1, 1983 — when the internet began —, was the true birth of the ‘finance bro’ mentality, bringing millions of “finance bros” along.
“The ‘finance bro’ mentality is kind of this prioritization of getting money over anything else. No passion in building anything or doing anything, just doing things for money’s sake,” Miami Palmetto Senior High junior Rodrigo Duran said. “Doing whatever you need to do to get it.”
Money is blinding; it is often portrayed as the light at the end of the tunnel, but right before one gets there, the tunnel might collapse. The point is, monetary decisions — especially at a young age — must be carefully thought out.
While investing may be successful in certain instances, that might not always be the case. Relying solely on income from investments can be risky and can reduce the sense of fulfillment that one gets from a traditional job. Making a quick buck one week does not guarantee the same success the next; weeks may pass without earning a dollar. Traditional jobs offer stability and consistency, which is often necessary.
“[The mentality] decreases the cultural acceptance of getting a normal job, because people are like ‘I can make $1,000 in 20 minutes,’ and you can, but I don’t think you will,” Duran said.
As Generation Z grows into young adults, they are more drawn to the idea of fast wealth. The “Finance Bro” mentality can cause these young individuals to lose not only their work ethic but their sight of what matters. For high schoolers, it is pivotal to stay educated about the financial world because going into it with little prior knowledge can lead to detrimental decisions. Apart from the required sophomore Personal Finance class, the Finance Club at MPSH is a place for students to do so.
“You don’t want to become degenerate and lose money. Learning the importance of winning and losing is good because in investing, you have to learn how to take a loss just as much as taking a win or having a gain,” senior and Finance Club President Jack Diemar said.
As president of the Finance Club, Diemar does have personal experience with investing. He might not be classified as a ‘Finance Bro,’ but he currently invests and goes into it with pure intentions. Multiple finance club members invest as well and approach Diemar with questions, confident that he will have the answer.
The mandatory Personal Finance class for sophomores is a chance to equip students with the knowledge to avoid “Finance Bro” qualities and habits. The herd mentality is a large factor of the “finance bro” mentality, and learning about it could save students from future financial struggles.
“Herd mentalities are basically monkey see, monkey do. I don’t go by herd mentality, I go by my own individual premonitions,” Personal Finance teacher Tony Bermudez said. “The most important thing is being educated, so that you aren’t going into [the financial industry] blind.”
The key to overcoming the “Finance Bro” mentality is simple; recognize personal limits and resist the temptation. Enjoy the journey to building wealth instead of just the wealth itself.
