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In this video, I cover 5 things about money I wish we learned in school!
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0:00 Intro
0:23 Rent
1:56 Mortgage
2:47 How to Build Credit
5:29 How Much to Save for Retirement
9:00 How to Budget
11:12 How to Invest
12:19 Final Thoughts
source
hitting the thumbs up on this video = 2 credits at youtube university
βNOT ROBINHOODβ haha
Money can be trade for goods and services
great video man. thanks daniel!
I always thought you were the Doctor Dividend youtuber. π
Are you going to make a video about what schools DO teach you about money? It could just be a one second video where you say "nothing"
yessss
I really want my portfolio to be up to $100,000,000 before a year, I guess it can be possibleπ
All solid tips and crucial for navigating adulthood. β
You should add how to buy a house or how to do your own taxes
Why do you hate Robinhood π€
7:26 I thought you worked for yourself?
YNAB has single handedly changed our finances forever. Can't recommend it highly enough!
Gotchu w the 200th like
The philosophy of the rich and the poor is this. The Rich invest their money and spend what is left. The poor spend their money and what is left
The number one thing they don't teach you in school about money is to save at least 10% of what you make. Sad to see that you didn't include that at the beginning and when you did include savings it was surrounded by additional debt payment. Kids, if you are still in school and have a job, keep it simple. Save your ENTIRE CHECK (except $20 for your expenses) until you get $1000 saved up. When you get to $1000 buy yourself something fun and nice and start saving at least 25% of your paycheck, and NEVER TOUCH THAT SAVINGS ACCOUNT, except for emergencies and to buy a home. Get that habit established EARLY and you will get into the habit of valuing your REAL MONEY and YOUR TIME.
Thank you so much π€πΎ
Housing cost (rent or mortgage) should be 25% of your take home pay (net). They raised it to 30% rule because they stopped paying people as much, and what's more insidious is that they expect you to have two incomes to make that amount.
New mic? Voice sounds deeper than usual
β¨π
5 things school and college taught me about money:
Nothing. We didn't cover anything financial-related in school or college; had to learn it all on youtube. But i can tell you the value of Ο!…
Great stuff. Question on credit if anyone knows. If I'm paying off, for example, a TV with monthly payments on a Best Buy Credit card and on a 12 month plan, would my credit go down if on month 4 I end up paying off the rest ahead of time to not worry about it anymore? This is something I have heard various times and want to know if its a myth.
I absolutely wish I'd been taught about 'How to Invest' at school. Even just the basics of compound interest, ETF's, funds, and tax efficient investing would have made such a difference. I'd have definitely started investing a proportion of my Saturday job income at 16 if I'd known about this crucial investing information.
Awesome video as always Daniel!
If our βeducatorsβ had dedicated half the time theyβve spent promoting white guilt to finances and money management, our country would have a future.
In Germany there is NO school teaching you about money, not really, but Roman Latin β¦
You forgot memorizing that the mitochondria is the powerhouse of the cell π
Daniel always π₯π₯π₯
Great video just sent it to my kids to watch. Both are in high school now.
Daniel, love the transparency and love your videos. Thanks for all the advice!
So Iβm guessing 10am is the best time to post YouTube videos? I swear 8 videos popped up on my feed within the last 30 minutes lol
2 things: Daniel is so good at financial education he narrated a 13 minute video within the same minute according to his clock (Yay for palindromic times!)
Also, yes, re: budgeting, cancel that gym membership and work out to Rachel Gulotta Fitness instead!!
i don't think school taught me anything about money! Looking foward to learning what I should have in this vid π
Same over here