Shannon Terrell is a lead writer and spokesperson at NerdWallet and a former editor at Finder, specializing in personal finance. Her writing and analysis on investing and banking has been featured in Bloomberg, Global News, Yahoo Finance, GoBankingRates and Black Enterprise. She holds a bachelor’s degree in communications and English literature from the University of Toronto Mississauga.
- Share trading
- Merchant services
- Studying to become a Certified Educator in Personal Finance (CEPF)
- Author of over 400 personal finance articles
- Featured in publications, such as Black Enterprise and Yahoo! Finance
- Earned over 66,000 views on her Finder YouTube video features
- Interviewed key stakeholders in the investments industry, including co-founder of Thinkorswim and CEO of Tastyworks, Scott Sheridan and ArborCrowd co-founder and chief operating officer, Adam Kaufman
- Honours Bachelor of Arts (HBA), Professional Writing and Communication | University of Toronto Mississauga | 2014–2019
Industry insights from Shannon Terrell
We asked Shannon to demonstrate her expertise by answering a few questions about investments and personal finance.
Say you are handed $100,000. What is the most practical way to allocate a large sum of money?
Get an accurate picture of your finances, prioritize high-interest debt and open an investment account. You do not need to be debt-free to invest. If you have access to a 401(k) through work, max out your contributions. If you do not have a 401(k) or if this is your first time investing, explore beginner-friendly platforms that can manage your investments for you, like a robo-advisor.
What is the best way to keep from overspending?
Create a budget. It might be a pain, but it is worth it. If it feels too daunting to tackle with pen and paper, try a budgeting app: They are designed to do the legwork for you. All you need to do is sync your accounts to identify where you spend the most each month. Accountability is empowering and you can stow what you save in a high-yield savings or money market account. As your rainy day fund grows, so will your peace of mind.
What is the best way for first-time investors to break into the market?
Automated investment platforms like Acorns and Betterment are a solid way to learn the ropes. These beginner-friendly platforms are designed to pick and manage your investments on your behalf and provide protected exposure to the market. They can serve as a practical learning environment for anyone new to investing.
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