We're not taught any of these things, because of the 3 reasons. The system wants us to: 1 -- Be faithful employees 2-- Loyal consumers. 3-- Addictively reliant on credit. Did I miss something?
Yes, that school doesnt have to teach you how to be a human. Just be responsible for once and inform yourself ffs. Why do people want school to do everything? Is that what live is for you? If nothing is interesting to you, something has to force you? Well that´s your fault I guess
@@thetaomega7816 No1 is saying that and he isnt either. What every1 is saying is that the school system is so corrupt and just designed to make you a 9-5 worker and is designed for you to work for the goverment and just become poor. Just 30 mins of financial education a week could change a kids life and there would be so much less broke 16-18 year olds. And i could go on in literally hours of how and why the school system was made to be corrupt. yes the school cant do everyhting but what everyone is saying is that they didnt focus on the main things like financial education for example and the realy important stuff that will actually help you with. The reason why @40Duce Trey didnt even bother reply to you is because your not realising that what hes trying to tell is that overall the school system was fundimentally designed to make you a worker and very poor, in almost every angle literally to the smallest things you would never even think so. Watch robert kiyosaki on youtube and read rich dad poor dad to learn a bit of what im trying to tell you
@@SpI3eR123 ☠️BLACK BARON☠️I study money and finance every week and now I know how schizopsychodelico the money mechanics system has become. School teaches you only one thing. How to become the best subservient and how to think in a pre-defined pattern. I already knew in school that there was something going totally wrong.
@@SpI3eR123 it’s fucked up, true, but they need those broke 16-18 years old. Who do you think makes their businesses work? Not the rich CEO themselves who will take out the trash & take the orders. 🧠
Buying Your 1st Home Save, Save, Save Emergency Fund Budgeting Basics Compound Interest Secrets of Credit Rules of Insurance Taxes Guard Your Health College Debt Isn't 100% Neccessary
Plus how to get grants and loans from banks Why doesn't school teàch this? They also don't teach you that getting a GED is not bad as you think. I know plenty of buddies who got their GEDS earlier in highschool and they are now business owners, in the military as captains, etc. Plus Trades.
getting into Investing to create a passive income should be every wise man priority...i made my first million from having a diversified portfolio that spread across stocks, grade bonds, coins and etfs also with the help of a full service broker handling my portfolio. smart investing is key Mr bernardmoore_official is the man.
Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
Whichever firm you select, make sure you get your insurance from a reputable financial adviser, such as *PRISCILLA DIANE AIVAZIAN* who has dedicated her career to financial planning. Because they will assist you in escalating, navigating better, and completing the task in a safer manner.
@@harrisonjamie794 I want to build a diversified portfolio based on my personal income. I am easily triggered/highly emotional, which could be detrimental to my portfolio. I hope I am a patient and systematic person. day trading is not for everyone and multiyear holding is not for everyone. I know my strengths that's why I need proper guidance to be able to venture
@@georgerobinson2021 Very true, If you're looking for help building a retirement nest egg, you most likely want a certified financial planner with expertise in retirement planning. With the aid of a coach, I grew my reserve from $160k to almost $600k during this Red season.
@@harrisonjamie794 How can one find a verifiable financial Planner, I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
I took finance classes at the university and they didn't teach me anything useful other than working for a company :( So now I'm starting from the bottom learning finance basics and trying to achieve financial freedom as soon as I can. That's why I made this channel! We should all learn how to be a financially independent person instead of totally relying on the companies.
School teaches you corporate finance, financial statements, and economics. Personal finance (budgeting, loans, credit card use, mortgage, etc) is a different topic not taught at any school, unfortunately. I didn’t even know what a mortgage was until I was 20 years old.
A well explained video , It takes all this to improve your trading physiology as a beginner trader. 1 Get Yourself in the Right Mindset. Before you even start your trading day, simply remind yourself that markets are never constant. ... 2 Have a Great Knowledge Base. ... 3 Remind yourself that you are Trading in Real Money. ... 4 Observe the Habits of Successful Trader. ... Which is why I humbly recommend Mr *Romero* *pieto* in this field.
I became successful in the online trading market because I decided to do my homework and not enter the market as a novice Thanks to your mentoring program Mr Romero pieto.
7:04 That’s not what umbrella insurance is. Umbrella insurance is used for coverage in excess of existing policies, or for perils that those other policies don’t cover. It is not a substitute for other forms of insurance (auto, homeowners, life, etc.).
I was thinking the other day if an MBA is worth it. I came to the conclussion that it's not, because there is thousands of hours of interviews/talks given by the most successful people in finance on youtube alone. So instead of learning from someone who could be teaching because it has no better job opportunities (not always the case) I can choose my mentors and the content that I want to learn about. And the best thing, I can learn everything for FREE.
True, the mode of education is definitely changing however the value of face to face interaction / learning from your peers, building lasting relationships can often be under-estimated.
Tbh I disagree at some, MBA is great. It's not always the knowledge, it's the relation with other people who are in a great position and you can often learn from them.
Parents should be teaching finance not schools as real world examples are more relevant. My father had me counting his "tips" (restaurant worker) rolling them up in coin wrappers, writing his bank account number and writing up the deposit slip. Eventually he had me making deposits and balancing his check book. And this started when I was in 3rd grade. US schools only "teach" rote memorization so you can pass tests.
18 months before I retired I put all but $18 a week from my salary at my second career into maxing our Roths, maxing my company IRA including the extra allowed due to age and a regular account at Schwab. we had a pension from my first career, some VA money and two SS checks (I waited till 67 years old) Got every single thing from cars to house paid off. When I told my wife I was finally retiring she panicked. (she never paid attention to how I handled money) "how will we survive?" she said. I don't know baby can you handle a huge raise? I still see every cost per month x 12 from Paramount + to Disney. we use Amazon a lot but pay the Prime card 3 times a week. I have a large deductible to become somewhat self insured on cars and house with cash reserves to handle an emergency.
Do not buy a house larger than you need. Stay home. No one has ever bought a new car. You my test drive a new car, but once you sign for a new car it becomes a used car. Twenty to twenty five percent deprecation as soon as you sign. New car equals higher ins rate. Higher taxes. Pay for shipping. Buy 2-3 yrs old. Just the car you need. If you need a cell phone for work, get them to pay. You can live without one. Really you can. It just takes better time management. No tattoos. Learn to cook. Better food, much less cost. Cook extra for dinner, take the rest for lunch next day. Coffee is brewed at home. Consult the web for info on how to DIY. Repairs are easy when you know how to do them. Invest your money. Small savings. Enough for emergency that's it. No funds,or pros to do it for you. Too many fees. Buy the stocks they have in their funds that pay dividends, and reinvest them. A large expenditure is needed sell some stock. Treat stocks like a savings account. Sell only if you must. What I have described here is not what saved it's what that money becomes that makes the difference. Best of luck
Some basic tips I learned for saving money in college for first year's: - Do not go into the most expensive dorm. Ask on your college's reddit thread about the cheapest dorm with the best living conditions. If you were thrown into one, you can change it - and they'll refund you the surplus amount if you switch to a cheaper one (or at least, they should) - Don't get an unlimited meal plan, you're not going to use it as much-- trust me. Check your college reddit thread for the meal plan people actually get. Sometimes meal plans are optional, and if you don't get one you'll be saving a lot of money. Sometimes paying at the dining centers out of pocket is cheaper than paying for the meal plan. Do the math on it
I had a gr12 teacher, teach us about Canadian financial history and crisis', budgets, compound interest, and how his mortgage for 200k will in the end (with refinancing) cost him 650k. That was 10 years ago, I truly didn't find financial freedom aka the secret, until 4 years ago. But I am sure happy I have!
Glad someone made a video on this, i made soooo many mistakes and wasted key time in younger years, now approaching 40's and luckily back on track but i've often wondered why no one talks about this key topic that has massive impact on all our lives
I have an MBA but they NEVER EVER taught us ANYTHING ABOUT PERSONAL FINANCE and investing - EVER! Horrible. So thanks for sharing. We will have our kids on this soon.
I took personal finance in high school and college, college one didn't teach me anything, the one in high school I had a great teacher. I learned how to do my own taxes, balance a checkbook, start getting credit, how to invest and taught me about having emergency funds. I also learned to budget and we lightly grazed starting a business at very far length. I like that the video gets right to the point, I'm mainly here to give this video to my significant other who honestly isn't good with money. I taught him about savings, emergency funds, investing and getting credit, he was frozen like a deer in headlights, it about made him cry to save his first $100, yet has virtually no cost of living yet as his parents still pay for virtually everything, he's been living where 99% of his income goes to wants, I've been burdened with having to teach him about delayed gratification and why it's important. He took personal finance too he said, but he didn't understand it. I'm concerned about him trying to fully live on his own, because he's going to be in for a rude awakening where almost all his income goes to everything else and very little is left over for all the fun stuff. He has lofty ideas of having a car and a house of his own in the next year, but has 0 credit and I finally just got him to save his first $1k ever in his life. It's frustrating trying to get him to see the basics and why him still diddling around won't get his house or car, if he wants them he's gonna have to be more serious.
As an educator, I talk to people and program developers to get money math into the classrooms but it is really falling on deaf ears. I work at a school that lives near the poverty line. This cycle will continue to happen unless we teach them how to aim higher and how to get there.
You only need to follow one rule: pay yourself first. Put 20% or more aside the day you are paid and forget about it. Live on what’s is left no worries about budgets just make sure you don’t go overdrawn.
That generally worked for me, but it wasn't until I made a budget that I realized how much impulse spending I was doing. By making a budget, I was able to actually see how much money I was blowing and save even more money.
Miss Priss I tried setting budgets but the only budget that works for my wife is “if there is still money in the account then I can buy the ‘necessary’ stuff”.We been married for 28 years and I have never seen her buy something that wasn’t “necessary”...
Excellent information here. The education system is failing students. If you don't major in Accounting and Finance, you're missing out on crucial personal finance info. It definitely shouldn't be structured that way. Thank you for sharing!
Great watch! This information is so valuable, especially during these times when being financially stable is so important. Thanks for sharing such amazing information dear.
I don't understand how we can teach math geometry and calculus but never teach how to do money math that every person needs for daily living. We need money math for the rest of life.
Well I did do the math and if you double a penny every other day for 30 days it's not even close to $30 million. After 30 days it would only be worth $163.84.
I don’t understand why so many people aren’t getting this. You start with $0.01 then $0.02 then 0.04 then it keeps doubling and doubling 30 times, it’ll equal 5 or 10 mil, if you don’t believe me put in your calculator “0.01 x 2” and do it 30 times
@@marchofnature636 it’s because ‘every other day’ means every two days. So if you double something ‘every other day’ over a 30 day period, you are doubling it 15 times, not 30.
Thanks for all the detailed information you have provided in this video. I like your way of explaining every point. Keep sharing such great videos in the future also.
Good points with the exception of credit card advice. Most Americans don’t understand how to use credit cards or the risks of using them improperly. Don’t recommend using credit cards without detailed guidelines on how to use for individuals who are intentional and detailed. Having good credit is helpful yet it doesn’t signal wealth or financial literacy. It just signals ones ability to incur debt.
A credit score shows your relationship between income and expenses and your ability to control cash flow... so I think it does signal financial literacy. Those who incur debt and interest on a credit card clearly have low levels of financial literacy
@@mateus8676 wrong. It only shows your ability to accumulate debt. And you’re incentivized to increase your debt to raise your credit score. Based on your logic most Americans would be considered to have financial literacy and an ability to manage cash flow 🤣 … right with 50%+ who can’t find $1000 to pay an emergency bill and when the average American has 8k in cc debt 🤣
@@mateus8676 no it’s not. It’s a metic that shows how you can accumulate debt. Managing it is a component but it doesn’t face value demonstrate financial acumen. Plenty of people take out more credit cards to pay the previous ones or to increase their credit basis so they can manipulate the utilization rate
@@darbyohara The biggest portion of the FICO score (35%) according to the company is.... drumroll..... *payment history* Accumulation without repayment = loan default = lower credit score. By your logic the score would not change because it doesn't measure anything other than the amount of debt you have🤣🤣 Clearly this shows that Dave Ramsey is good for getting out of debt, but lacks financial education. How many of the multimillionaires and billionaires do you think got there by listening to Ramsey?😂 Without credit, I wouldn't have been able to purchase my rental properties, nor would I have retired at just 35 years old. Debt can be as much a tool as it is a burden. It's how you use it that makes the difference.
I remember in my early 20’s I applied for a credit card and was denied. My attorney friend offered to write a letter on my behalf to the credit company. I got my first credit card thanks to his support. Sadly he has cognitive problems and is homeless living on the streets. I pray and ask Jesus to keep him warm and fed 🙏🏽
The only thing I learned was how to established credit in highschool, didn't like credit cards until my late20s because my father never used them and when I did get one I paid it off in time. I did good in my credit but earlier I'd cosigned a loan that fund everything I worked for , my first vehicle. I shared this video because had I learned so much more. I feel I would be looking good .Also what a lot of videos don't talk about and that's relationships that can ruin you
Financial Planning is more than just good advice or investment returns. It’s about the guidance that you can trust. Financial Planning Services includes investing at right time, saving for future, start budgeting and spend only on important things.
I would advise anyone to do 2 years at community college... this is coming from a 1 yr community college transfer to a 4 year (so 3 years) it will save you about 10 k or more a year that you could invest or pay towards debt
my class says to not get a credit card and don’t use it because you’ll end up in debt and more debt because of interest and a credit score is just your debt history
Look at most billionaires, dropped out of school. Realized working for others only makes them rich. Rich people get others to work for them and make them money.
Who told you that there's no courses that sharpen your financial skills. That is why students should learn financial accounting and personal finance courses that are offered at your college
For sure. Doing your own research if you are interested in the topic is always an option too. Lots of good resources online these days. I actually just posted a video on my channel 15 mins ago that you might like. Check it out, i'd love to know what you think!
I didn't get a debit card until I was 17 lol without a Job. The problem is that school shelters kids to not save up earlier to get a car and then work temporarily on jobs that pay low so you can work smart. The average american doesn't know about Cash flow, but they learned 6 years of math etc in college. In the end credit is more important than scholarships and loans.
How do you leave out the most important thing? Taxes. It amazes me how ignorant people are about how they work. Credit score is overrated. When you apply for a mortgage the interest rate is locked in before they even do a credit check. Even if the lender is flexible on it they have no reason to give a better rate just because you have a good credit score. They're only looking for bad credit so they have an excuse to raise your rate.
☠️BLACK BARON☠️ The reason why parents put their kids in these "theory bunkers" to get rid of them over the wrking hours day. No need to teach them anything and focusing on doing their own money job.
"Savings" should really be tax-shielded or tax-free longterm investments, imo. It is saving in the sense that it's not to be used for expenses of any kind. Having a savings account is fine and great for accessible money, but noooooo way should you ever put 20% of your gross or net income into a savings account. This is like walking up an escalator that's going down. You get nowhere.
Trust me if any of you watching this had been working with a well experienced fund manager for sometimes you would have been making so much profit, I’m glad I did cause I made a considerable large amount of profit trading on my managerial portfolio.
Technologies are changing quickly, new jobs are being created all the time and schools just struggle to keep up... in 2023 everyone should learn personal finance!
Im so with you. my main thing is school teaches you about people. also, we want to learn from people who have done what we want to do, therefore your high school teacher is not going to teach you a lot... unless you want to become a highschool teacher.
pretty sure doubling the value of a penny every other day.... won't equal 10+ million after 30 days. if it doubled every day..... yes. I did the math... like you asked.
Yeah, that's only $327.68 after 15 doublings, assuming a 31 day month. I'd take the $3000. Now if it kept redoubling for another month, it WOULD be over $10 million
The Schools are an institution for peoples to improve theirs education & buildups theirs knowledges so they’ll understand which directions they’re heading for. If they’ve guidances on Good Cultures from theirs parents then they’ll achieved very well in the societies.
Could you imagine if we tried adding personal finance to high school/college curriculum? Our corporate lobbyists, who only want us to be smart enough to perform the jobs but not wise enough to know what to do with our paychecks, would stop it dead in its track. This will never be taught in schools. Smart money stays smart by ensuring a greater portion of the population is dumb with their money.
I agree there is so much about personal finance that schools just don’t cover and it’s unfortunate. I’m trying to bridge that gap also with my channel. Thanks for the great explanations. Which one do you think is the most valuable? I personally think understanding how to go to college without student loans is huge! So many students think it’s the only way they can afford college and never consider some of the options you mentioned. Great stuff.
Enjoyed the video? Check out my financial Education course 👉www.incomeliberator.com/s/store
We're not taught any of these things, because of the 3 reasons. The system wants us to:
1 -- Be faithful employees
2-- Loyal consumers.
3-- Addictively reliant on credit.
Did I miss something?
Yes, that school doesnt have to teach you how to be a human. Just be responsible for once and inform yourself ffs. Why do people want school to do everything? Is that what live is for you? If nothing is interesting to you, something has to force you? Well that´s your fault I guess
@@thetaomega7816 No1 is saying that and he isnt either. What every1 is saying is that the school system is so corrupt and just designed to make you a 9-5 worker and is designed for you to work for the goverment and just become poor. Just 30 mins of financial education a week could change a kids life and there would be so much less broke 16-18 year olds. And i could go on in literally hours of how and why the school system was made to be corrupt. yes the school cant do everyhting but what everyone is saying is that they didnt focus on the main things like financial education for example and the realy important stuff that will actually help you with. The reason why @40Duce Trey didnt even bother reply to you is because your not realising that what hes trying to tell is that overall the school system was fundimentally designed to make you a worker and very poor, in almost every angle literally to the smallest things you would never even think so. Watch robert kiyosaki on youtube and read rich dad poor dad to learn a bit of what im trying to tell you
@@SpI3eR123 ☠️BLACK BARON☠️I study money and finance every week and now I know how schizopsychodelico the money mechanics system has become. School teaches you only one thing. How to become the best subservient and how to think in a pre-defined pattern. I already knew in school that there was something going totally wrong.
@@SpI3eR123 it’s fucked up, true, but they need those broke 16-18 years old. Who do you think makes their businesses work? Not the rich CEO themselves who will take out the trash & take the orders. 🧠
@@SpI3eR123 👏good explanation to that "T O" 😂
Buying Your 1st Home
Save, Save, Save
Emergency Fund
Budgeting Basics
Compound Interest
Secrets of Credit
Rules of Insurance
Taxes
Guard Your Health
College Debt Isn't 100% Neccessary
You sir are a gentleman and a scholar. Thank you
Plus how to get grants and loans from banks Why doesn't school teàch this?
They also don't teach you that getting a GED is not bad as you think. I know plenty of buddies who got their GEDS earlier in highschool and they are now business owners, in the military as captains, etc.
Plus Trades.
Never save invest
@Linus Tech Clips you were right
Hi Eric. ... Good stuff, you have the right mindset.
Formal education will make you a living; self-education will make you a fortune.
You got that right! 💪
@Hi Y’all you're probably in a trash school or in normal classes instead of IV/AP classes
Yessir
Formal education doesn't even do that
getting into Investing to create a passive income should be every wise man priority...i made my first million from having a diversified portfolio that spread across stocks, grade bonds, coins and etfs also with the help of a full service broker handling my portfolio. smart investing is key Mr bernardmoore_official is the man.
So sad I was never taught what was important such as investing, they were so focused on finding the x than teaching how to grow real wealth.
😀😀 I think student curriculum should change.
School just prepare you for employment, that why many these days skip school.
Sad thing about school, after college most students have to pay up there college loans which is bad.
That's true, I have managed to stay debt free since I opened a stock trading portfolio with a pro brokerage.
@@michealvaughan8089 I have been thinking of venturing into stock market for a while but I lack the education, any tip would be very much appreciated.
Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
Whichever firm you select, make sure you get your insurance from a reputable financial adviser, such as *PRISCILLA DIANE AIVAZIAN* who has dedicated her career to financial planning. Because they will assist you in escalating, navigating better, and completing the task in a safer manner.
@@harrisonjamie794 I want to build a diversified portfolio based on my personal income. I am easily triggered/highly emotional, which could be detrimental to my portfolio. I hope I am a patient and systematic person. day trading is not for everyone and multiyear holding is not for everyone. I know my strengths that's why I need proper guidance to be able to venture
@@georgerobinson2021 Very true, If you're looking for help
building a retirement nest egg, you most likely want a certified financial planner with expertise in retirement planning. With the aid of a coach, I grew my reserve from $160k to almost $600k during this Red season.
@@harrisonjamie794 How can one find a verifiable financial Planner, I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
@@georgerobinson2021 Surf the web for her info it's easier to get on her webpage.
Takeaways:
*Personal finance is the background for all financial success
*Have good savings habit..
*Reduce expences
*Have emergency fund
Much appreciated!
I took finance classes at the university and they didn't teach me anything useful other than working for a company :( So now I'm starting from the bottom learning finance basics and trying to achieve financial freedom as soon as I can. That's why I made this channel! We should all learn how to be a financially independent person instead of totally relying on the companies.
To a financially independent life. 🍾
School teaches you corporate finance, financial statements, and economics. Personal finance (budgeting, loans, credit card use, mortgage, etc) is a different topic not taught at any school, unfortunately. I didn’t even know what a mortgage was until I was 20 years old.
Hi
Did you take a personal finance course? Every university/state college offers this course
Mine did not. ~13 books read later and I think got the basics though
A well explained video , It takes all this to improve your trading physiology as a beginner trader.
1 Get Yourself in the Right Mindset. Before you even start your trading day, simply remind yourself that markets are never constant. ...
2 Have a Great Knowledge Base. ...
3 Remind yourself that you are Trading in Real Money. ...
4 Observe the Habits of Successful Trader. ... Which is why I humbly recommend Mr *Romero* *pieto* in this field.
Mr Romero pieto has helped me greatly I can now earn and also learn how to improve my knowledge in trading.
Love his trading system , he ensure safe investment and better risk management.
Good good content.
I became successful in the online trading market because I decided to do my homework and not enter the market as a novice Thanks to your mentoring program Mr Romero pieto.
Stephanie Wilcox I'm from France 🇫🇷 does Mr pieto accept new investor or students ?
7:04 That’s not what umbrella insurance is. Umbrella insurance is used for coverage in excess of existing policies, or for perils that those other policies don’t cover. It is not a substitute for other forms of insurance (auto, homeowners, life, etc.).
Got bored and started missing school & homework, so I started taking notes on this video.. I would get an A!
I was thinking the other day if an MBA is worth it. I came to the conclussion that it's not, because there is thousands of hours of interviews/talks given by the most successful people in finance on youtube alone. So instead of learning from someone who could be teaching because it has no better job opportunities (not always the case) I can choose my mentors and the content that I want to learn about. And the best thing, I can learn everything for FREE.
True, the mode of education is definitely changing however the value of face to face interaction / learning from your peers, building lasting relationships can often be under-estimated.
Tbh I disagree at some, MBA is great. It's not always the knowledge, it's the relation with other people who are in a great position and you can often learn from them.
Saving money, budgeting, and having emergency funds is one of the most important.
Parents should be teaching finance not schools as real world examples are more relevant. My father had me counting his "tips" (restaurant worker) rolling them up in coin wrappers, writing his bank account number and writing up the deposit slip. Eventually he had me making deposits and balancing his check book. And this started when I was in 3rd grade. US schools only "teach" rote memorization so you can pass tests.
18 months before I retired I put all but $18 a week from my salary at my second career into maxing our Roths, maxing my company IRA including the extra allowed due to age and a regular account at Schwab. we had a pension from my first career, some VA money and two SS checks (I waited till 67 years old) Got every single thing from cars to house paid off. When I told my wife I was finally retiring she panicked. (she never paid attention to how I handled money) "how will we survive?" she said. I don't know baby can you handle a huge raise? I still see every cost per month x 12 from Paramount + to Disney. we use Amazon a lot but pay the Prime card 3 times a week. I have a large deductible to become somewhat self insured on cars and house with cash reserves to handle an emergency.
Do not buy a house larger than you need. Stay home.
No one has ever bought a new car. You my test drive a new car, but once you sign for a new car it becomes a used car. Twenty to twenty five percent deprecation as soon as you sign. New car equals higher ins rate. Higher taxes. Pay for shipping. Buy 2-3 yrs old. Just the car you need.
If you need a cell phone for work, get them to pay. You can live without one. Really you can. It just takes better time management.
No tattoos.
Learn to cook. Better food, much less cost. Cook extra for dinner, take the rest for lunch next day.
Coffee is brewed at home.
Consult the web for info on how to DIY. Repairs are easy when you know how to do them.
Invest your money. Small savings. Enough for emergency that's it.
No funds,or pros to do it for you. Too many fees. Buy the stocks they have in their funds that pay dividends, and reinvest them. A large expenditure is needed sell some stock. Treat stocks like a savings account. Sell only if you must.
What I have described here is not what saved it's what that money becomes that makes the difference.
Best of luck
Great video talking about Ten Financial Principles You Won’t Learn in School. Iwish u good luck
*Great tips about items we didn't learn in school. Self education will make you rich.* 😉
So true! #Taking our financial future into our own hands 💪
Just watched this for school. This video taught me more about money than anyone or anything has taught me in my life combined
Thank you a lot for this video. This is very interesting and informative. Keep posting like those amazing videos, this is awesome.
I am learning English. Your lecture on financing helped me a lot in understanding the usage of some of finance words.
Some basic tips I learned for saving money in college for first year's:
- Do not go into the most expensive dorm. Ask on your college's reddit thread about the cheapest dorm with the best living conditions. If you were thrown into one, you can change it - and they'll refund you the surplus amount if you switch to a cheaper one (or at least, they should)
- Don't get an unlimited meal plan, you're not going to use it as much-- trust me. Check your college reddit thread for the meal plan people actually get. Sometimes meal plans are optional, and if you don't get one you'll be saving a lot of money. Sometimes paying at the dining centers out of pocket is cheaper than paying for the meal plan. Do the math on it
A 10 minute video clarified how I should act with money better than any high school class I’ve taken
this video was shown in one of my hs classes
I had a gr12 teacher, teach us about Canadian financial history and crisis', budgets, compound interest, and how his mortgage for 200k will in the end (with refinancing) cost him 650k. That was 10 years ago, I truly didn't find financial freedom aka the secret, until 4 years ago. But I am sure happy I have!
My school taught me absolutely nothing about finance. Completely nothing. Zero. This subject was never even brought up, not even once.
Did you graduate middle school than go home?
@@shoeboi4596 Nope. I'm talking being around 19 and about to start uni. This is public education in Poland.
It’s really very amazing video on basic of personal finances.
Glad someone made a video on this, i made soooo many mistakes and wasted key time in younger years, now approaching 40's and luckily back on track but i've often wondered why no one talks about this key topic that has massive impact on all our lives
I have an MBA but they NEVER EVER taught us ANYTHING ABOUT PERSONAL FINANCE and investing - EVER! Horrible. So thanks for sharing. We will have our kids on this soon.
Best advice I ever read was Rich dads definition of asset & liability, don't spend your life paying off liabilities
I took personal finance in high school and college, college one didn't teach me anything, the one in high school I had a great teacher. I learned how to do my own taxes, balance a checkbook, start getting credit, how to invest and taught me about having emergency funds. I also learned to budget and we lightly grazed starting a business at very far length. I like that the video gets right to the point, I'm mainly here to give this video to my significant other who honestly isn't good with money. I taught him about savings, emergency funds, investing and getting credit, he was frozen like a deer in headlights, it about made him cry to save his first $100, yet has virtually no cost of living yet as his parents still pay for virtually everything, he's been living where 99% of his income goes to wants, I've been burdened with having to teach him about delayed gratification and why it's important. He took personal finance too he said, but he didn't understand it. I'm concerned about him trying to fully live on his own, because he's going to be in for a rude awakening where almost all his income goes to everything else and very little is left over for all the fun stuff. He has lofty ideas of having a car and a house of his own in the next year, but has 0 credit and I finally just got him to save his first $1k ever in his life. It's frustrating trying to get him to see the basics and why him still diddling around won't get his house or car, if he wants them he's gonna have to be more serious.
As an educator, I talk to people and program developers to get money math into the classrooms but it is really falling on deaf ears. I work at a school that lives near the poverty line. This cycle will continue to happen unless we teach them how to aim higher and how to get there.
You only need to follow one rule: pay yourself first. Put 20% or more aside the day you are paid and forget about it. Live on what’s is left no worries about budgets just make sure you don’t go overdrawn.
That generally worked for me, but it wasn't until I made a budget that I realized how much impulse spending I was doing. By making a budget, I was able to actually see how much money I was blowing and save even more money.
Miss Priss I tried setting budgets but the only budget that works for my wife is “if there is still money in the account then I can buy the ‘necessary’ stuff”.We been married for 28 years and I have never seen her buy something that wasn’t “necessary”...
VERY. Well. Said. 🤘
Your explanation was too good...Now I am knowing about all things of financing...thnku dear
I extremely like the video, man. Very helpful and informative. Thank you very much. It is presented so well too. Great, positive work.
Excellent information here. The education system is failing students. If you don't major in Accounting and Finance, you're missing out on crucial personal finance info. It definitely shouldn't be structured that way. Thank you for sharing!
I never went to college, or University, and high school was practically useless, in this department.
Couldn't agree more!! Most people don't know this!
Thank you for this information I really appreciate it. I wish I would have had this when I was 18.
Great watch! This information is so valuable, especially during these times when being financially stable is so important. Thanks for sharing such amazing information dear.
I don't understand how we can teach math geometry and calculus but never teach how to do money math that every person needs for daily living. We need money math for the rest of life.
Well I did do the math and if you double a penny every other day for 30 days it's not even close to $30 million. After 30 days it would only be worth $163.84.
Yep lol. Maybe he was using a really old version of Excel to do the calcs that didnt quite do math correctly ;)
I don’t understand why so many people aren’t getting this. You start with $0.01 then $0.02 then 0.04 then it keeps doubling and doubling 30 times, it’ll equal 5 or 10 mil, if you don’t believe me put in your calculator “0.01 x 2” and do it 30 times
@@marchofnature636 it’s because ‘every other day’ means every two days. So if you double something ‘every other day’ over a 30 day period, you are doubling it 15 times, not 30.
appreciate the information a lot
great video this should be the videos teenagers watch now
Me right now thinking if I should not go to school this semester and learn personal finance on UA-cam
I am thinking the same thing
It's really sad that some people who finished there college year's can't find a job some end up homeless
It's terrible. Honestly it makes me question if it's still worth it...
Thanks for all the detailed information you have provided in this video. I like your way of explaining every point. Keep sharing such great videos in the future also.
Good points with the exception of credit card advice.
Most Americans don’t understand how to use credit cards or the risks of using them improperly. Don’t recommend using credit cards without detailed guidelines on how to use for individuals who are intentional and detailed.
Having good credit is helpful yet it doesn’t signal wealth or financial literacy. It just signals ones ability to incur debt.
A credit score shows your relationship between income and expenses and your ability to control cash flow... so I think it does signal financial literacy. Those who incur debt and interest on a credit card clearly have low levels of financial literacy
@@mateus8676 wrong. It only shows your ability to accumulate debt. And you’re incentivized to increase your debt to raise your credit score.
Based on your logic most Americans would be considered to have financial literacy and an ability to manage cash flow 🤣 … right with 50%+ who can’t find $1000 to pay an emergency bill and when the average American has 8k in cc debt 🤣
@@darbyohara What I said is not an opinion... a credit score is a score of how well you manage to pay your debt by design
@@mateus8676 no it’s not. It’s a metic that shows how you can accumulate debt. Managing it is a component but it doesn’t face value demonstrate financial acumen. Plenty of people take out more credit cards to pay the previous ones or to increase their credit basis so they can manipulate the utilization rate
@@darbyohara The biggest portion of the FICO score (35%) according to the company is.... drumroll.....
*payment history*
Accumulation without repayment = loan default = lower credit score. By your logic the score would not change because it doesn't measure anything other than the amount of debt you have🤣🤣
Clearly this shows that Dave Ramsey is good for getting out of debt, but lacks financial education. How many of the multimillionaires and billionaires do you think got there by listening to Ramsey?😂
Without credit, I wouldn't have been able to purchase my rental properties, nor would I have retired at just 35 years old. Debt can be as much a tool as it is a burden. It's how you use it that makes the difference.
I remember in my early 20’s I applied for a credit card and was denied. My attorney friend offered to write a letter on my behalf to the credit company. I got my first credit card thanks to his support. Sadly he has cognitive problems and is homeless living on the streets. I pray and ask Jesus to keep him warm and fed 🙏🏽
The only thing I learned was how to established credit in highschool, didn't like credit cards until my late20s because my father never used them and when I did get one I paid it off in time. I did good in my credit but earlier I'd cosigned a loan that fund everything I worked for , my first vehicle. I shared this video because had I learned so much more. I feel I would be looking good .Also what a lot of videos don't talk about and that's relationships that can ruin you
Financial Planning is more than just good advice or investment returns. It’s about the guidance that you can trust.
Financial Planning Services includes investing at right time, saving for future, start budgeting and spend only on important things.
I’m an avid fan of wisdom about personal finance and this video satisfies.
I would advise anyone to do 2 years at community college... this is coming from a 1 yr community college transfer to a 4 year (so 3 years) it will save you about 10 k or more a year that you could invest or pay towards debt
Couldn't agree more!! Most people don't know this!
my class says to not get a credit card and don’t use it because you’ll end up in debt and more debt because of interest and a credit score is just your debt history
Look at most billionaires, dropped out of school. Realized working for others only makes them rich. Rich people get others to work for them and make them money.
The rich have money working for them.
@@makkan49 wow, I just realized.
(Seriously)
This is a amazing video, nice concept
You speak clearly,you well deliver the thought.thank you! this is amazing blog.
Couldn't agree more!!
THANK YOU SO MUCH FOR SHARING US 🖊😇💫✊
Great students make good employees, self-learners make great leaders.
We can be that game changer.
Let's stop the traditional cycle of school, work, and retirement @ 60 or 65.
A penny that doubles every other day would be $163.84 after 30 days, not $10,000,000...
If schools taught personal finance they'd ignore anything important and instead require you to know "what year did the stock market begin?"
Education is so important...thanks for helping spread this info.
100%
Who told you that there's no courses that sharpen your financial skills. That is why students should learn financial accounting and personal finance courses that are offered at your college
For sure. Doing your own research if you are interested in the topic is always an option too. Lots of good resources online these days. I actually just posted a video on my channel 15 mins ago that you might like. Check it out, i'd love to know what you think!
I didn't get a debit card until I was 17 lol without a Job. The problem is that school shelters kids to not save up earlier to get a car and then work temporarily on jobs that pay low so you can work smart.
The average american doesn't know about Cash flow, but they learned 6 years of math etc in college.
In the end credit is more important than scholarships and loans.
Yeah it's really unfortunate how in school personal finance is usually at best glanced over.
I wish one day schools would know how important this is
They know. They just do not want us to know all of these. Making sure we are financial dependent on jobs to work as slaves.
Never let school interfere with your education.
Get your money up! Inform yourself. Go with your gut. Stay positive!
That's the plan!
@@PracticalWisdom exactly!
How do you leave out the most important thing? Taxes.
It amazes me how ignorant people are about how they work.
Credit score is overrated. When you apply for a mortgage the interest rate is locked in before they even do a credit check. Even if the lender is flexible on it they have no reason to give a better rate just because you have a good credit score. They're only looking for bad credit so they have an excuse to raise your rate.
1 penny doubled every other day for twice the amount of time mentioned is still only 5 million and not 10 but there message is still there.
It's weird the way he worded it. He could've meant after 30 days of it doubling, meaning he was only counting the days it doubled.
lmao
yea i thought it sounded wrong and "did the math", in the method he mentioned, it would be 327.68$ by day 31
Love this!
Anyone knows in which app do they make their videos?
Lessons inschool is far more different from real life.
true
☠️BLACK BARON☠️ The reason why parents put their kids in these "theory bunkers" to get rid of them over the wrking hours day. No need to teach them anything and focusing on doing their own money job.
I love the insights! Thanks for this great & interesting video. 😉
Hi I am from India .
Nice video.
Thank you.
"Savings" should really be tax-shielded or tax-free longterm investments, imo. It is saving in the sense that it's not to be used for expenses of any kind. Having a savings account is fine and great for accessible money, but noooooo way should you ever put 20% of your gross or net income into a savings account. This is like walking up an escalator that's going down. You get nowhere.
Schools teach very little in the way of finances, personal interaction, social graces, etc.
Couldn't agree more!! Most people don't know this ---
Love this channel!
Thank you!
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Technologies are changing quickly, new jobs are being created all the time and schools just struggle to keep up... in 2023 everyone should learn personal finance!
You misspelled guard as "gaurd" at 8:49
Regarding high interest accounts (4:27), where are those found?
Such valuable information!
Formal education is a great trap.
Financial education is real knowledge.
Couldn't agree more!! Most people don't know this!
Whats the best high interest accounts? For compound interest
Im so with you. my main thing is school teaches you about people. also, we want to learn from people who have done what we want to do, therefore your high school teacher is not going to teach you a lot...
unless you want to become a highschool teacher.
Personal Finance Rules School Doesn't Teach You
Really good tips in this video
thank you,
Couldn't agree more!! Most people don't know this!
pretty sure doubling the value of a penny every other day.... won't equal 10+ million after 30 days. if it doubled every day..... yes. I did the math... like you asked.
Yeah, that's only $327.68 after 15 doublings, assuming a 31 day month. I'd take the $3000. Now if it kept redoubling for another month, it WOULD be over $10 million
The Schools are an institution for peoples to improve theirs education & buildups theirs knowledges so they’ll understand which directions they’re heading for. If they’ve guidances on Good Cultures from theirs parents then they’ll achieved very well in the societies.
I’m watching this for a school assignment, being early college.
Could you imagine if we tried adding personal finance to high school/college curriculum? Our corporate lobbyists, who only want us to be smart enough to perform the jobs but not wise enough to know what to do with our paychecks, would stop it dead in its track. This will never be taught in schools. Smart money stays smart by ensuring a greater portion of the population is dumb with their money.
If you don’t think anthropology is important for daily life, you really don’t understand anthropology.
Great video
good information.............😍😍😍😍😍😍
I like how I'm watching this video for school
Great video!
Love the animation on this video
Hello bro. Why did You leave making animated videos like this one?
Great idea!
There's just so much they don't teach you in school...that's the main reason I started my channel.
So much I wish I new 15 years ago...
I agree there is so much about personal finance that schools just don’t cover and it’s unfortunate.
I’m trying to bridge that gap also with my channel. Thanks for the great explanations.
Which one do you think is the most valuable? I personally think understanding how to go to college without student loans is huge!
So many students think it’s the only way they can afford college and never consider some of the options you mentioned. Great stuff.
I am going to watch in full screen. No distractions.
I am 10 and want to be smart 😎
When a person freely advises their age (I am 10), they are most often lying... Who are you trying to show off for?
@@mannythompson8800 what statistics do you have to back up that statement 🤔
Asking for a friend