@@GR-le1ms Not if you make a high income. That's true for much of Dave Ramsey's "Advice" as well. If you make a lot more than your minimum needs to survive, it turns out you your quality of life is better and you can get out of debt faster (shocking, I know)
Last week was the 2 year anniversary of the completion of our debt free journey. No debt and our home paid off. We are all in investing on our 401Ks and brokerage accounts and a year + expenses in savings. This is the best way to live!
Agreed. But make sure you really lean into your investing. good formula to know you are investing enough is: (Age x income) ÷ 7 = How much you should have in investments.
*with over 10 years of tra ding experience, Mr Ricky has gained himself a good reputation by helping a lot of persons build their finances' through investments🇺🇸*
Kudos to you Leila , that is not easy getting people to open up about finances , and kudos to the two young people who seem to have a plan for their future .
My wife and I paid off our last consumer debt a few days ago. 30 month journey and we used the baby steps and Dave Ramseys method. Idk if it’s worth it yet but I know I get to keep 3 out of 4 paychecks out of the month now so we will see 😊
My general conclusion on this is that 1. Don't be afraid of debt for housing or education as those can pay off. 2. Focus on your career and your partner, they are your biggest investments that you have control over. 3. DCA your stock investments into ETF's. 4. Do this for 40 years and you will be fine. 5. Live within your means.
The first kid did the right thing. I racked up student debt when his age. I just got out of it at 35. Wish I had his train of thought. But back in 2007 I wasn't really informed everybody told me that's it's normal to get a loan didn't know any better. But I'm good now.
Great video. I've watched other personal financing channels, and this is my first time watching one of your videos. I think your interviews were insightful and done pretty well - especially being your first time. Kudos 👏
I went back and watched (and LIKED) the first video. You ask really good follow-through questions and did so in a very organic and in tune way. Good job!
This isn't directed at you... just a response to the sentiment of your comment. The Dave Ramsey philosophy of never getting a credit card is outdated boomer logic. It's not "commendable", it's very "sub-optimal" and short-sighted. There's NOTHING wrong with having a CC as long as you use it responsibly. If I told you I would give you a permanent 1%-3% discount on everything you buy (as long as you pay off your purchases every month - so things you can actually afford, like a real grown-up would) while you ALSO get the benefit of having a productive credit score to help you buy the BIG things you'll need (like a home or car) that you wouldn't be able to pay for up-front (like the MULTI-MILLIONAIRE Dave can), you would be a moron to not take it. It's only the immature, irresponsible, and financially illiterate people who shouldn't have and USE credit cards. Be a responsible adult. Have a little discipline. I wish people would stop pretending like the credit card is the problem. It's not - their BEHAVIOR is.
@ He’s currently in the job market/unemployed, so a credit card would not be a good idea if he doesn’t have the income to pay it. Hence why it’s commendable that he didn’t get one. I’m not against credit cards, but I am if someone doesn’t have an income to pay them.
@@OweEyeSea It's not like one example exemplifies, justifies, or absolves anyone for anything. Lots of people get things from others. Are we really going to isolate EVERY single individual example of someone getting a "thing" from someone else, and then use that to justify anything?
@@force_majeure4070 FACTS!!! Avoiding a credit card isnt commendable necessarily because you miss out on the benefits that come from using it responsibly!
Yes! Pay off debts first! Love the first guy! He knows Ramsey Solutions. The first one knows and take it to heart to follow the baby steps to get free from broke
I mean true but dude can just get a credit card and just buy what he needs. It’s not like once you get a credit card you automatically are in debt, everyone chooses whether or not to be in debt
Age of credit is one factor of your credit score. Get a credit card or two. Use them once. If you can't pay your bill in full each cycle put the cards up or destroy them but do not close the account. It's only if you realize you can't control impulse spending that you should not carry a credit card. Responsible use of cards will increase your credit score and open doors for future credit purchase. Credit scores are a game, learn the rules of the game and you will increase your score. No or little credit under your name is a handicap. Interesting video, good job.
@@hubster4477 In a way you are correct but a good credit score rather than no score will benefit most everyone. Credit scores play into many things. Even employment in some cases, plus cost of insurance to name two. Not having credit will effect you in more ways than it seems like you realize. If you don't have a credit history it is hard to get credit. Insurance companies hesitate to write you because they may think you will submit a false claim. Employers may not hire you because they think you may steal. It's a game easily played. "After the house" ... "after" being the key word. Having a good credit score will help you get a home loan or rent an apartment.
well to be fair by the time youre 55 you really shouldnt need to be budgeting. by that time you should have a good skillset that pays well and a large nestegg to fall back on. i feel like budgeting is over used. once you build the habits of saving and you have a solid income budgets become way less necessary.
@@titolovely8237 He has maybe a NW of 1.2M if he disclosed all of his debt with a 200K/year job. (2M in retirement - 700k in mortgage, plus credit cards) He needs to budget. He wants 5M by retirement, that means he needs to accumulate by saving or growth 380000/ year.
@@titolovely8237 depends what your financial goals are. The reality is, budgeting can help you save by cutting out unnecessary expenses. In the end, it’s about what’s more important to you.
To be fair you don’t know about the flashiness. To get enough points to pay for hotels and traveling you have to spend a lot. I wouldn’t be surprised if they have at least one luxury vehicle or top of the line truck. The key which he didn’t mention is having a high paying job which more than covers all his spending without thinking of budgeting.
I enjoyed the video a lot. It's nice to see younger people making smart decisions and how the older gentleman advised against trying to time the market. Great tips 🥰
One thing that occurred to me is that the advice to "live below your means" is good advice but leaves out that you should be very slow to let your spending go up, even when you get a big increase in pay. This is especially important for expenses that you get locked into for a long time, like a mortgage or a car. For instance when I bought my home I didn't think about how much money I could possibly borrow with my salary, or even how much what I wanted in a house would cost. Instead I figured out how much I could earn if I had to go back to unskilled labor, and based the maximum mortgage I would take on that. So if I lost my job and had to take whatever job I could get, I would still be able to pay the mortgage. That situation would obviously not work for everyone everywhere, but the principle is to keep your cost of living much lower than you absolutely have to. By doing that you can more rapidly build up a large savings account to cover six months of expenses and then start investing towards retirement or whatever other dreams you have. And if you lose your job and can't get another with similar pay quickly you'll be able to last longer before getting into serious financial difficulty.
People should start by buying a condo then they can upgrade to a house later. There is neither need nor sense to get everything right away if you cannot pay for it.
Use a credit card for everything, transactions can be disputed if fraudulent, and allows you to build credit ( which I don’t believe in ) but it mainly allows you to reap benefits IF you pay the statement off every month. Your buying food and gas no mat what, so just use it to take advantage of the system. Keep your debt low and your income high
Yup. I charge utilities, everything, to rewards cards and pay off every month. I usually get back well over $1000 a year in rewards. Let your purchases work for you 👍🏻
32 Started working at 29 No debt. Investments $55,000 Savings $18000 Total net worth $73,000 I save more than 50% of my salary because I lucked out on a cheap apartment that's just 25% of my paycheck.
If you consistently pay your credit card balance(s) in full a day or two before the STATEMENT DATE, rather than the Due Date, your FICO score will go up 20-30 points within 2-3 months. The catch is that if you slip one month, your score will drop 10 points or more. Getting back on track for 2 months will bring it back up.
Older gentleman gave good advice!! Don't complicate it..live within your means, have little to no debt other than a mortgage,6-12 month emergency fund,sit it and forget it in 401K and Roth IRA..keep it simple and you should have a comfortable life!!
I liked that he wasn’t afraid of credit cards like so many of the commenters here. I never use my debit card if I don’t have to and just pay the balances each month. Track debit card statements and get a baseline on how much you spend and can afford.
This was great! I’d love to see you analyze local ATL creatives (actors, comics, artists, filmmakers) finances, since those jobs very often come with lump sum payments rather than steady income streams.
Yes, privileged as a parent to do that for your child. I already have a Roth IRA set up for my 12 year old. She will then pay into it once she has a job. I already told her how this will be worth around $9-13 million when she retires. Start them young.
@@jacobmiller5834I don’t get how parents don’t make saving accounts just for future kids college/expenses. If you put 10k into a fund when your kids born when they are going to college it will be around 80k which is more than enough to make that payment.
a lot of people dont realize if you pay your credit card off right away (before the due date) you wont pay interest, you'll build your credit, and can get rewards like cash back (depending on type if credit card. that's how i built my credit at a young age without any debt.
These are great! It's nice to see the "how much do you make" videos, but that only tells one side of the story. It's much more helpful to hear about the debt too.
You should get a sign! As a shy person who has to talk to strangers a lot, if you have a sign that says what you’re doing, and a smile, people will voluntarily stop!
Good job! Good to see you hitting the streets. I also talk to people about finances (or try too) on my commute to work. People know they overspend -- but they just like the "things" too much.
be intentional and start early in saving, investing and earning, Time goes fast. for most of us the most important decisions in life are done in our 20s
Getting a credit card is smart, helps build credit and you can get % cash back. The stupid thing, is to not pay it off in full every month. Use it like your debit card, but only buy, what you can pay for in cash.
Exactly what I just said in another comment. If you can’t afford it don’t buy it. I have never carried credit card debt in the last 29 years. Paid off my mortgage in 13 years at age of 36
I have never carried credit card debt. If I don’t have the cash I don’t buy it. I am 47 and have been doing this since I was 18. I use credit cards because I get the cash back but pay it off every month. I also don’t have any student loan debt. I started with a company as an electricians helper and worked my way up to a foreman over approximately 6 years. Worked for that company for 23 1/2 years, i was at the end of the road for advancement. I quit and went to an electrical testing company and now make over $200k a year. Remember never had student loans. Just goes to show you that you don’t need to go to college to get a decent pay job you just have to want to work. Sometimes it’s not easy, working in heat or cold etc…. I also paid my new house off it 13 years and now live mortgage free.
You should definitely get a credit card as early as you can. Get one with rewards. Set a monthly budget you can afford. Use your credit card to pay for your expenses, pay your total balance every month. Get rewards and don’t carry debt, build your credit in advance so when you do eventually need a loan someday you’ll get the lowest APR and save a ton of money in interest payments.
I made the same mistakes as that teacher, in and out trying to time the market. The only time that I was right was 2008. I would have a lot more if I had just put it in and forgot it. One other suggestion. If you have responsible parents and a good relationship, your parent can put you name with them on their credit card, even if you dont have access to the account. When they make their payments it builds your credit. That only works if your parent is responsible though.
I've never had a credit card and it was easy to get a mortgage. You dont need a credit card or a high credit score to get a mortgage on a house at all. Most providers dont care at all.
I have a few just for the cash back, but the whole credit card thing to build credit is an old belief that is still alive and well for some reason. You absolutely do not need them. I’m older and am financially established, and I don’t pay one cent in interest, ever, but that is not most people. I would tell younger folks to be very cautious with them and only get one if you are 100% confident you will never miss a payment in full. Meaning you should never spend a dime on interest. The rewards are a nice gift, but they aren’t going to make you rich. Investing makes you rich.
I'd beg to differ, my credit score was the only thing that got me my mortgage at a young age. Try getting a mortgage at 23 with no credit score. My credit union with all my financial history (including a paid off auto loan) wouldn't even try to pre-approve me. 10+ lenders said not a chance. Finally got one to say yes and they made sure to let me know my 800 credit score was the only reason they said yes. I've also read some comments that echo mine. If you're gonna do it young, you definitely need it.
This must’ve been pre-2008. I can’t think of any reputable bank nowadays that would approve a mortgage without a credit check. Without building a credit score you’ll either get denied or get a rate 2% higher than someone who simply uses and pays their credit card on time.
Great video! You made everyone comfortable during what would normally be an uncomfortable subject to talk with strangers about. Off subject question, where did you get those shorts? I have the toughest time finding shorts that fit like that and we're a similar build.
Hey! I appreciate it! I’m happy to say I got a job and paying off my undergraduate debt as we speak! I’m also saving for law school now and my goal (as I’m saving towards) is to pay 30k-40k upfront! I also apply this coming fall so wish me luck! Take care!
If you dont have a credit history just get a prepaid debit card. I got the visa petal card. I had it for about a year and a half now and my credit score went from like 300 to like 720.
Getting random people on the street to talk about this stuff is really powerful. Well done.
Also dangerous too
It helps an avg looking female doing the approach. A guy would have 10x lower interview rate.
These people are nobodies. Plus, I’m sure 1K people ignored here.
Well that is rude. Just because you classify them as nobody's, Who are you? Why are you not a nobody?
They are all RESPONSIBLE young adults.
My son just started his first ever job out of college and immediately applied for a credit card - TWO actually. Is that bad?
That last gentleman delivered the goods.
No he did not. He said he doesn't budget. To achieve what he has, he has to have financial discipline. He wasn't100% honest.
@@GR-le1ms Not if you make a high income. That's true for much of Dave Ramsey's "Advice" as well. If you make a lot more than your minimum needs to survive, it turns out you your quality of life is better and you can get out of debt faster (shocking, I know)
@@jasonbailey6664 where do you disagree with what I wrote? I stated he must have discipline. Are you saying he doesn't?
Last week was the 2 year anniversary of the completion of our debt free journey. No debt and our home paid off. We are all in investing on our 401Ks and brokerage accounts and a year + expenses in savings. This is the best way to live!
Agreed. But make sure you really lean into your investing.
good formula to know you are investing enough is:
(Age x income) ÷ 7 = How much you should have in investments.
So if your income suddenly jumps by 20% you should suddenly have vastly more in savings? That formula is flawed. @jasonw8497
Thank you to Leila's boyfriend for encouraging this!
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments.
I'm in a similar situation where should I look to increase income? Do you have any advice? What did you do? Thank you
I will recommend Ricky Wen Investing Services to you. He is good at what he does.
Did someone just mention Mr Wen!? Damn! You just made my day; what a coincidence.. I've worked with him for over 2years and I can tell how good he is
It's great to see you guys talking about Ricky Wen, This man changed the game for me. Good Man❤️
*with over 10 years of tra ding experience, Mr Ricky has gained himself a good reputation by helping a lot of persons build their finances' through investments🇺🇸*
Kudos to you Leila , that is not easy getting people to open up about finances , and kudos to the two young people who seem to have a plan for their future .
I love these videos! So glad you are breaking out of your comfort zone 😊 Your boyfriend is amazing to support and encourage you - he’s a keeper ❤
👋🏻 thank you so much Katie 😊
My wife and I paid off our last consumer debt a few days ago. 30 month journey and we used the baby steps and Dave Ramseys method. Idk if it’s worth it yet but I know I get to keep 3 out of 4 paychecks out of the month now so we will see 😊
My general conclusion on this is that 1. Don't be afraid of debt for housing or education as those can pay off. 2. Focus on your career and your partner, they are your biggest investments that you have control over. 3. DCA your stock investments into ETF's. 4. Do this for 40 years and you will be fine. 5. Live within your means.
Overpaying for education is a big problem.
I am LOVING these!!! You're a natural!
Thank you so much!! 😊
@@PersonalFinancewithLeilagood job 🫶
The first kid did the right thing. I racked up student debt when his age. I just got out of it at 35. Wish I had his train of thought. But back in 2007 I wasn't really informed everybody told me that's it's normal to get a loan didn't know any better. But I'm good now.
Keep going. I see this becoming something. This is the transparency we need.
I loved this video, Leila! Would definitely watch more videos of this style if you choose to make them.
Great video. I've watched other personal financing channels, and this is my first time watching one of your videos. I think your interviews were insightful and done pretty well - especially being your first time. Kudos 👏
Thank you so much!!
I went back and watched (and LIKED) the first video. You ask really good follow-through questions and did so in a very organic and in tune way. Good job!
The 23yo future law student (in the job market and has NOT fallen into the temptation of getting a credit card) is commendable!
This isn't directed at you... just a response to the sentiment of your comment. The Dave Ramsey philosophy of never getting a credit card is outdated boomer logic. It's not "commendable", it's very "sub-optimal" and short-sighted. There's NOTHING wrong with having a CC as long as you use it responsibly. If I told you I would give you a permanent 1%-3% discount on everything you buy (as long as you pay off your purchases every month - so things you can actually afford, like a real grown-up would) while you ALSO get the benefit of having a productive credit score to help you buy the BIG things you'll need (like a home or car) that you wouldn't be able to pay for up-front (like the MULTI-MILLIONAIRE Dave can), you would be a moron to not take it. It's only the immature, irresponsible, and financially illiterate people who shouldn't have and USE credit cards. Be a responsible adult. Have a little discipline. I wish people would stop pretending like the credit card is the problem. It's not - their BEHAVIOR is.
@ He’s currently in the job market/unemployed, so a credit card would not be a good idea if he doesn’t have the income to pay it. Hence why it’s commendable that he didn’t get one. I’m not against credit cards, but I am if someone doesn’t have an income to pay them.
But was given a leg up with a "hand me down car".
@@OweEyeSea It's not like one example exemplifies, justifies, or absolves anyone for anything. Lots of people get things from others. Are we really going to isolate EVERY single individual example of someone getting a "thing" from someone else, and then use that to justify anything?
@@force_majeure4070 FACTS!!! Avoiding a credit card isnt commendable necessarily because you miss out on the benefits that come from using it responsibly!
Yes! Pay off debts first! Love the first guy! He knows Ramsey Solutions. The first one knows and take it to heart to follow the baby steps to get free from broke
I mean true but dude can just get a credit card and just buy what he needs. It’s not like once you get a credit card you automatically are in debt, everyone chooses whether or not to be in debt
Age of credit is one factor of your credit score. Get a credit card or two. Use them once. If you can't pay your bill in full each cycle put the cards up or destroy them but do not close the account. It's only if you realize you can't control impulse spending that you should not carry a credit card. Responsible use of cards will increase your credit score and open doors for future credit purchase. Credit scores are a game, learn the rules of the game and you will increase your score. No or little credit under your name is a handicap. Interesting video, good job.
No credit scores are not a handicap, after the house why would i ever need a credit card? To buy a camera? Phone? Car? Nope.
@@hubster4477 In a way you are correct but a good credit score rather than no score will benefit most everyone. Credit scores play into many things. Even employment in some cases, plus cost of insurance to name two. Not having credit will effect you in more ways than it seems like you realize. If you don't have a credit history it is hard to get credit. Insurance companies hesitate to write you because they may think you will submit a false claim. Employers may not hire you because they think you may steal. It's a game easily played. "After the house" ... "after" being the key word. Having a good credit score will help you get a home loan or rent an apartment.
Of course. Keep being a slave to the banks!
They'll eventually close the card out if you don't use it. Happened to me twice. No longer have a CC.
@13thCharacter that and it has to be updated every couple of years. Good job on no CC.
so happy for you that this is getting so many views! it's all paying off :)
The 8 minute guy doesn’t budget but he has a big shovel. He pays himself 1st and doesn’t finance flashiness.
well to be fair by the time youre 55 you really shouldnt need to be budgeting. by that time you should have a good skillset that pays well and a large nestegg to fall back on. i feel like budgeting is over used. once you build the habits of saving and you have a solid income budgets become way less necessary.
@@titolovely8237 He has maybe a NW of 1.2M if he disclosed all of his debt with a 200K/year job. (2M in retirement - 700k in mortgage, plus credit cards) He needs to budget. He wants 5M by retirement, that means he needs to accumulate by saving or growth 380000/ year.
@@titolovely8237 depends what your financial goals are. The reality is, budgeting can help you save by cutting out unnecessary expenses. In the end, it’s about what’s more important to you.
To be fair you don’t know about the flashiness. To get enough points to pay for hotels and traveling you have to spend a lot. I wouldn’t be surprised if they have at least one luxury vehicle or top of the line truck. The key which he didn’t mention is having a high paying job which more than covers all his spending without thinking of budgeting.
Budgeting is for young people starting out. At 55 it has become the usual routine for your life.
I enjoyed the video a lot. It's nice to see younger people making smart decisions and how the older gentleman advised against trying to time the market. Great tips 🥰
Leila this is great info! I love the realness of the interviews with everyday people.
A great video Leila and Sebastian! Thanks for being so bold. It has been very interesting. And I love the activity on the Beltline.
Great job! Real life experiences, examples, and growing pains are things you don’t learn in universities!
this is a great video, really enjoy seeing personal finance of every day Americans. great work
Hurry! Love these videos! Let see how it goes!
One thing that occurred to me is that the advice to "live below your means" is good advice but leaves out that you should be very slow to let your spending go up, even when you get a big increase in pay. This is especially important for expenses that you get locked into for a long time, like a mortgage or a car.
For instance when I bought my home I didn't think about how much money I could possibly borrow with my salary, or even how much what I wanted in a house would cost. Instead I figured out how much I could earn if I had to go back to unskilled labor, and based the maximum mortgage I would take on that. So if I lost my job and had to take whatever job I could get, I would still be able to pay the mortgage.
That situation would obviously not work for everyone everywhere, but the principle is to keep your cost of living much lower than you absolutely have to. By doing that you can more rapidly build up a large savings account to cover six months of expenses and then start investing towards retirement or whatever other dreams you have. And if you lose your job and can't get another with similar pay quickly you'll be able to last longer before getting into serious financial difficulty.
People should start by buying a condo then they can upgrade to a house later. There is neither need nor sense to get everything right away if you cannot pay for it.
@jocelynpouget6133 I'm currently saving to cash flow a house I have 14 years to go
@@jocelynpouget6133 Agree "starter houses" nowadays are huge compared to the needs of a starter family.
Great video! I've been a subscriber for awhile now and loved this. Keep 'em coming!
Great job! I love watching the older folks- very enlightening.
Use a credit card for everything, transactions can be disputed if fraudulent, and allows you to build credit ( which I don’t believe in ) but it mainly allows you to reap benefits IF you pay the statement off every month.
Your buying food and gas no mat what, so just use it to take advantage of the system.
Keep your debt low and your income high
Yup. I charge utilities, everything, to rewards cards and pay off every month. I usually get back well over $1000 a year in rewards. Let your purchases work for you 👍🏻
I really like these videos. It's a nice mix from your other videos. It's like salary transparent street- personal finance edition.
Been following you loosely for the past year. This video is top-notch. Do more of these.
Great video! I live in ATL as well and always wonder what industry people are in, esp higher income earners. The last guy spit some gems!
32
Started working at 29
No debt.
Investments $55,000
Savings $18000
Total net worth $73,000
I save more than 50% of my salary because I lucked out on a cheap apartment that's just 25% of my paycheck.
If you consistently pay your credit card balance(s) in full a day or two before the STATEMENT DATE, rather than the Due Date, your FICO score will go up 20-30 points within 2-3 months. The catch is that if you slip one month, your score will drop 10 points or more. Getting back on track for 2 months will bring it back up.
Keep going, would love more content seeing people talk about their debt and savings - love this
I really enjoy watching these!
Older gentleman gave good advice!! Don't complicate it..live within your means, have little to no debt other than a mortgage,6-12 month emergency fund,sit it and forget it in 401K and Roth IRA..keep it simple and you should have a comfortable life!!
I liked that he wasn’t afraid of credit cards like so many of the commenters here. I never use my debit card if I don’t have to and just pay the balances each month. Track debit card statements and get a baseline on how much you spend and can afford.
Good stuff Leila! Keep it coming and nice job!!
This was great! I’d love to see you analyze local ATL creatives (actors, comics, artists, filmmakers) finances, since those jobs very often come with lump sum payments rather than steady income streams.
This was great! You're breaking the stigma.
The older gentleman was great! What an inspiration and openness to answering your questions 👏 🙌
I like these interviews w/ real people.😊❤😊. The guy not budgeting totally tricked me.
You're privileged if you have parents financially helping you out and creating money market accounts for you.
It should be normal. It shouldn't be thought of as privileged.
lol yup
And you’re privileged for being able to type that comment!
Yes, privileged as a parent to do that for your child. I already have a Roth IRA set up for my 12 year old. She will then pay into it once she has a job. I already told her how this will be worth around $9-13 million when she retires. Start them young.
@@jacobmiller5834I don’t get how parents don’t make saving accounts just for future kids college/expenses. If you put 10k into a fund when your kids born when they are going to college it will be around 80k which is more than enough to make that payment.
a lot of people dont realize if you pay your credit card off right away (before the due date) you wont pay interest, you'll build your credit, and can get rewards like cash back (depending on type if credit card. that's how i built my credit at a young age without any debt.
The last guy was awesome!
Yes, please do more of these!
These are great! It's nice to see the "how much do you make" videos, but that only tells one side of the story. It's much more helpful to hear about the debt too.
You should get a sign! As a shy person who has to talk to strangers a lot, if you have a sign that says what you’re doing, and a smile, people will voluntarily stop!
I'm a Wealth Planning Advisor and smiled when he said he tried to invest himself and beating the market
Good job! Good to see you hitting the streets. I also talk to people about finances (or try too) on my commute to work. People know they overspend -- but they just like the "things" too much.
When former biologist Leila says: “so what do you want to do with that?” 😂💀
Right?! 😂
You should do more! Great Job Leila!
LOve this hope to see this turn into a series! As a GA resident it would be cool to even stumble on this one day!
I'll be sure to announce the next time I'm filming at the Belt line!!
Please do more of these types of vids! This is awesome! 🤘 You're a natural!
Thank you so much! I definitely will, gotta wait for some warmer weekends!
Really nice video, I do love to hear honest comments from real people, particularly those doing well 👍
Excellent video, great conversation with the last guy about where to put your money, index funds versus trying to predict the market
First guy is going to go far!
He has no savings. He'll be paying off law school debt for 5 to 10 years. But good luck to him.
be intentional and start early in saving, investing and earning, Time goes fast. for most of us the most important decisions in life are done in our 20s
For some reason I didn't think this would go well, but it was great! Solid follow up questions. Subbed.
I appreciate that!!
Getting a credit card is smart, helps build credit and you can get % cash back. The stupid thing, is to not pay it off in full every month. Use it like your debit card, but only buy, what you can pay for in cash.
Exactly what I just said in another comment. If you can’t afford it don’t buy it. I have never carried credit card debt in the last 29 years. Paid off my mortgage in 13 years at age of 36
Loved this video!! :) This was really interesting!
You are doing great! Please do more on this series! ❤
Good job in your interviewing skills, gained a sub, good luck
Good content. Real-life scenarios and "average" people. Keep it up.
You did good. Do some more!
2:20 dude is financially smart!
Never give up!
Love it! Great job Leila and Sebastian
CRUSHING IT!
Thanks Austin 😊
I have never carried credit card debt. If I don’t have the cash I don’t buy it. I am 47 and have been doing this since I was 18. I use credit cards because I get the cash back but pay it off every month. I also don’t have any student loan debt. I started with a company as an electricians helper and worked my way up to a foreman over approximately 6 years. Worked for that company for 23 1/2 years, i was at the end of the road for advancement. I quit and went to an electrical testing company and now make over $200k a year. Remember never had student loans. Just goes to show you that you don’t need to go to college to get a decent pay job you just have to want to work. Sometimes it’s not easy, working in heat or cold etc….
I also paid my new house off it 13 years and now live mortgage free.
Love it! Great video Leila and Sebastian!😊
You should definitely get a credit card as early as you can. Get one with rewards. Set a monthly budget you can afford. Use your credit card to pay for your expenses, pay your total balance every month. Get rewards and don’t carry debt, build your credit in advance so when you do eventually need a loan someday you’ll get the lowest APR and save a ton of money in interest payments.
Be a bank slave as early as you can.
Please do more of these! This is great content!!
This is solid i make sure i look out for you next time im skating up and down the belt line
Very positive and always informative regarding financial advice
real news... nice work
I made the same mistakes as that teacher, in and out trying to time the market. The only time that I was right was 2008. I would have a lot more if I had just put it in and forgot it. One other suggestion. If you have responsible parents and a good relationship, your parent can put you name with them on their credit card, even if you dont have access to the account. When they make their payments it builds your credit. That only works if your parent is responsible though.
Wasn’t he a data analyst? Where did you get teacher from?
@mplslawnguy3389 You are correct I am not sure where I got the teacher from.
Thanks, I enjoyed this!
I avoid paperwork like the plaugue so it never occured to me to apply for a credit card. All my credit came from car loans.
I've never had a credit card and it was easy to get a mortgage. You dont need a credit card or a high credit score to get a mortgage on a house at all. Most providers dont care at all.
I have a few just for the cash back, but the whole credit card thing to build credit is an old belief that is still alive and well for some reason. You absolutely do not need them. I’m older and am financially established, and I don’t pay one cent in interest, ever, but that is not most people. I would tell younger folks to be very cautious with them and only get one if you are 100% confident you will never miss a payment in full. Meaning you should never spend a dime on interest. The rewards are a nice gift, but they aren’t going to make you rich. Investing makes you rich.
I'd beg to differ, my credit score was the only thing that got me my mortgage at a young age. Try getting a mortgage at 23 with no credit score. My credit union with all my financial history (including a paid off auto loan) wouldn't even try to pre-approve me. 10+ lenders said not a chance. Finally got one to say yes and they made sure to let me know my 800 credit score was the only reason they said yes. I've also read some comments that echo mine. If you're gonna do it young, you definitely need it.
This must’ve been pre-2008. I can’t think of any reputable bank nowadays that would approve a mortgage without a credit check. Without building a credit score you’ll either get denied or get a rate 2% higher than someone who simply uses and pays their credit card on time.
If someone walked up to me like this I would not reveal anything
Americans are next level stupendous, bravo
This is cool & you’re doing a good job.
Thank you!!
These are very interesting. Everyone is on a journey.
Good on you for going outside of your comfort zone!
Thank you!!
Just found your channel, awesome video. You just gained a new sub.
More of this please!!
Great video! You made everyone comfortable during what would normally be an uncomfortable subject to talk with strangers about. Off subject question, where did you get those shorts? I have the toughest time finding shorts that fit like that and we're a similar build.
Thank you so much! Hollister! Ultra high rise 90s denim shorts, they're the best!!
@PersonalFinancewithLeila Thank you so much!!
great video! Could you please make a video about cost of leaving in your area with house prices and rent!
I just subscribed to your channel. Good interviews! :)
If I was approached and asked about my personal finances, I'd hesitate, then say "Well..... maybe.... but you'll have to buy me dinner first!" 😉
Loved it. I rarely subscribe but did for you. Great idea!
Thank you so much!
Great video!
That first guy has it gonin on if he holds to his plan 💪🏻
Hey! I appreciate it! I’m happy to say I got a job and paying off my undergraduate debt as we speak! I’m also saving for law school now and my goal (as I’m saving towards) is to pay 30k-40k upfront! I also apply this coming fall so wish me luck! Take care!
The first guy should get the fizz card. It helps build credit without spending more money than you have.
Love the Capital one VX
love your vids,keep it up!!!!
I’m very open about finances and live in the Atlanta area. Would be happy to have a chat anytime!
If you dont have a credit history just get a prepaid debit card. I got the visa petal card. I had it for about a year and a half now and my credit score went from like 300 to like 720.
Imagine they ask the interviewer back “So what are your life aspirations?”
And she says back “Well……this 🤦♂️”
🤷🏿♂️🤷🏿♂️🤷🏿♂️