Don't Make the Same Mistake as Me
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- Опубликовано: 21 авг 2024
- Hey guys, today's video isn't normally what I upload but I was thinking about this all day so I figured I'd share my insight about something that is very important about growing up. Your credit score is very important and really isn't talked about enough. In this video, I try explain to you the importance of your credit score and how to start building credit. I hope this helps!
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Moral of the story: Don't buy cars new. And if you for some reason decide to, NEVER lease or finance. Buy what you can afford, never put yourself in debt.
GimmehMyMoney amen
Just save up cash for a new car so its impossible to go into debt
Never lease? Do you know how buying a car works? Nobody buys cars for cash anymore unless its a junker. There's nothing wrong with leasing.
GimmehMyMoney moral of the story is make your payments. I bought my car new and paid it off in under a year. Though to be fair like him I had the money to pay cash for my car.
Being able to make consistent payments on a larger purchase is a good way to raise your credit. His mistake was misunderstanding how the money he paid into it was being applied to the loan, then ignoring the communication from the bank. It isn't like he couldn't afford the car, or to even continue making payments on it.
um noooo, dont miss your fuckin payments and take care of shit when you need to.
I had bad credit. It took me three years to fix it. Now I own a house and my credit is stable. I started my credit line with Amazon, and Best Buy. Good video nade, glad you use this platform to educate young kids.
Yeshua Christ The beginning of your comment sounds like an ad for some scam company to "fix" my credit score
how did you start with amazon? i applied and didnt qualify
RevelryMusic try Wells Fargo
Any more info about starting with Amazon?
Andy Aristondo why say that? He's probably doing much better than most people in the comments
Advice for Nadeshot:
1. Get some PREPAID credit cards (you can get $2000 each card) and just buy small stuff on each...pay off each every month.
2. Write a letter to original creditor for the car, and ask to remove the derogatory mark from your credit score. If it is almost 7 years since the mark, forget it and just wait it out as it only lasts for 7 years. If it still persists after 7 years, send letters to all three financial bureaus and demand it gets removed.
3. Reduce your credit to debt ratio...you want to have 10% of your credit limit used at any given time. (70k in credit= 7k on cards)
4. DO NOT CANCEL ANY CREDIT CARDS EVER...just pay them down to 0 and never use them...but keep the credit line open.
Up vote so my boy sees this :)
MehdiNPartDeux smart man 👌🏽
MehdiNPartDeux how about pay cash for everything and stay away from debt, why are you going to take advice from a kid who's in their 20s that doesn't know what theyre getting into with debt
Good luck buying a house in cash
Jose Garcia you don't need a FICO score to buy a house
Brian A, you still need a good credit history to buy a car or house. Nade is on point here. I've gone through the same thing he has, other than missing payments.
If schools would focus on this important stuff our country would be better instead of learning math that 97% of us will never use in our entire life
too true our nation is to focused on teaching us math and science and a load of shit we will never use but however stuff like credit score and paying mortgages and paying taxes or just overall general life lessons young children will never be able to know what to do
That is a load of bullshit. Math is the main factor that goes into credit scores and mortgages. You want to learn how to deal with all your finances? Good luck doing that without the help of math. Why don't you go to an accountant who DID learn math in order to get the job done then. Our country would not be better off if schools chose not to focus on math. Technology will never progress, engineering would die out, medicine and health would be put at risk, etc. People with your logic are troublesome.
kanye!!!
I think he's talking about advanced math we don't use like advanced calculus. I think we all know you need basic math, but personal finance would be totally different. Math isn't going to teach you about mutual funds, investing, IRA's, secured credit cards and all that. I think we'd benefit from personal finance courses in school.
I was gonna like the comment but fuck Kanye
I bet you paying $700-$1000 per pair of yeezys doesnt help your credit score...
Mason Bonnell yep
Mason Bonnell why would that make a huge difference?
Mason Bonnell what would buying something affect your credit score? It's only if you miss payments
Mason Bonnell ......Did you really say that lol
Why are you all so uneducated in the credit world? Debt usage does effect your credit score. Debt to income is a huge factor. Payments made on time on make up about 30% of the score. You have to look at how much is charged on the cards, how long all trade lines have been opened, what type of trade lines you have, his often a hard inquiry is ran on your report... Credit score isn't just about making payments on time. It's about debt management all together.
I'll save you then minutes. he said he is gay...
LArry8 omg me to
LArry8 shut up lmao he was advising to take care of our credit scores
what the fuck?!
LArry8 lol
Lmao 😂
It's nice to see someone with a large platform talk about personal mistakes to spread awareness and knowledge to others, especially about credit- a subject that hardly gets touched upon during teen to early adult years!
Great video... you have a lot of power with all this followers. This is good explaining to does younger viewers how important credit is in this financial world. Great job nadeshot
It's a decent explanation, first off missing payments is bad, yes. But if ALL he did was miss 3 payments, and never had any other negative effects on his credit and and other loan was always paid on time, then his credit score will go back up. 6 years down the road on a more than likely paid off loan creditors won't usually worry about 3 missed payments if he's never missed a payment since. If he's having to pay a year upfront on an apartment then he's still got other issues going on that he simply doesn't care to share, because otherwise his credit score should be well above 600.
The biggest thing is yes, pay on time, don't default on credit and leave open accounts, and honestly, pay cash. With the exception of a home, there isnt anything you can't buy in cash. You can get a home loan fairly easy with no credit history.
Jeremy Howard it's not always the best idea to pay things in cash. It's pretty nice to have a magic card with all your money on it. Also I don't remember him specifying that it was only 3 payments.
He said he was 3 months passed due right around 4:48, if you're referring to a debit card as the magic card then that's fine, but credit cards are not needed. The only time I'd say use a credit card is if you pay it off every month and never carry a balance month to month,, but quite frankly you can get buy without ever needing credit.
A friend of mines step son can get a mortgage through his credit union right now and he has 0 credit history.
You should make more life lesson videos like this. They don't teach you shit about the real world in school, but hey, at least I know that the mitochondria is the power house of the cell.
Embracing Time They do. It's called Economics.
Julius Vasquez booooiii I had AP ECO and passed the AP test and all I learned was how money flows around businesses and the country and a shit ton of vocab and not once were we taught how to build credit or checking and savings
Julius Vasquez don't get me wrong though, maybe your economics class did actually show you this stuff but I'm just putting it out there that you're not completely correct
NOXHEL - My AP Econ teacher went full detail into it, mainly to brag about his credit and investments.
NOXHEL - I do see your point though, most teachers just read the textbook.
This doesn't make any sense. I'm confused. You had 78k. Why didn't you pay in cash? If you payed it off in 24 months then you are paying more than if you payed upfront.
Didn't pay cash so that the auto loan that I had would be paid off monthly and start my credit history with the banks and institutions
Nadeshot oh ok. I was confused because my parents always tell me that it's better to pay in cash for things than monthly. Thanks for the clarification
Bro you don't need credit. With the amount of money you make you should be paying cash for everything except a mortgage. Basically a fail safe for never going into debt
Dude, everyone needs credit. EVERYONE. If you have a lot of money, you don't pay for everything in cash because that locks up your money in other assets when it can be invested and making more money for you.
Nadeshot So you needed credit to build credit?
I'm about to be 19 and currently on the "how to start building credit" phase... thanks for the advice man, I'm glad you made this and informed all of us, especially knowing that you have tons of younger viewers.
why do people always have to go to a "dealership" for their first car and overpay for a 2 seater college student rust bucket, get into debt, when logically you can go and buy one second hand that is much nicer and one payoff. i dont get human logic.
GoonaTV why don't you take it to the next step and just build your own car?
yeah i bet building my own car is super easy and cheap! (sarcasm)
GoonaTV - You forgot to add, and doesn't go down in value by thousands of dollars as you drive it off of the lot.
Justin Albano right ^^
for your first car, you should go second hand. however, there is issues with that as well. both have their positives and their negatives.
Kind of shitty how all these things like credit isn't taught or explained in school. Really would help a lot of people out I think.
Habel Mamora its 2:17 Am Here
Habel Mamora yeah cus why have meaningful classes when we can have things like pottery! American school system is fucked
Habel Mamora in my school a finance class is required to graduate
your parents should teach you that
i went to a public high school and we had a whole project about credit cards and credit in general. idk if california schools are different than schools in other states.
*Its complete bullshit how they don't teach you anything about credit scores, mortgages, finances, loans and debit at school/college/university. What happened to it preparing you for when you leave?*
SteelRazorBlade // AdamSRB Its called Economics. Only class that teaches you everything you actually need in life.
Julius Vasquez Unfortunately true. Which sucks because I'm studying maths, physics and history but hopefully one day they implement the essential topics into PSHE.
Most of SECONDARY schools here in the civilized side of the atlantic have that discipline
SteelRazorBlade // AdamSRB my school does
KeyEfSea OG Which side is that exactly?
The sad thing is is that people think that credit scores are necessary. "You need good credit to get a car. You need good credit to get a house." I'm not professional but I've taken classes from people like Dave Ramsey and they explain how you can do all that with literally never having a credit card. He bought a used car while working, made some money, sold that and bought a nicer used one. He did this multiple times. Now he drives some nice car. He also explains how he bought a house without having a credit score. It's unfortunate that you are "weird" if you don't have a credit card/score.
Sam - Dave Ramsey listener and book reader here, and I agree with you 100%. People don't know the truth and are really into their credit score. A zero credit score is a positive thing that a lot of people don't know. Like you said, sad indeed.
Sam goid luck buying a house in cash. Or until your car breaks down and you need to borrow money to fix it, or you need home repairs, or anything. Basically any average person needs a credit score
I've listened to a couple Dave Ramsey's lessons on finances he actually did a sermon series on fiances at my church a couple years ago. The guy is very insightful
While it's true you don't necessarily need a credit score to get by, it does certainly make life a bit easier, especially in regards to as a form of background/history check. If you are a responsible credit card user and use it with the same mentality of using it like a debit card, you should be more than fine, but sadly some people don't see it that way.
What's funny is Nadeshot could pay cash for a lot of stuff. He could easily live without a credit score. It's the "normal" people who would need credit and if people were smart with their money, they wouldn't need one anyways. To bad a lot of people pay way to much instead of saving for things that they really want. Nadeshot probably needs credit because he spends hundreds of thousands of dollars on cars he doesn't need. It truly is sad to see that people believe all the lies that the marketing companies push out.
Hey Matt, normally a quiet subscriber, but just wanted to say that being 29, I've been through most of this shit and think it's great that you do this to help the younger gen as they grow up. I (like many I'm sure) didn't really listen to my parents and had a similar problem to this. Luckily, I applied through the courts to get my default 'struck off' and it was marked as 'satisfied' which meant I didn't suffer for half a decade, but still a good year or so. Nice one, mate.
Take a shot everytime he says "credit"
have fun
I plaid dis geam wile ediding nd now i think im drrunkk
lool
+Nadeshot you the best my dude 👌🏽
Nadeshot lmfaooo headass
lmfaooo
With 73k, why did you not just buy the car outright?
Blaze Clarke It's a brand new car. You lose half the value as soon as you leave the dealership.
Crooklyn's Finest but he got it on finance, using a personal loan right? I might have misheard. I guess if he got it by hire purchase or a lease then it wouldn't cost as much. You'd still lose out though. If I could afford it I'd always just buy a car outright, if I was going to get a new car. But then I'd usually just get somehting second hand haha
Crooklyn's Finest Who cares about value though, the point is that you want a car, not an investment. Bought mine new too, plan on using it until it falls apart. I don't care how much it is worth.
Why would you buy a car outright if you can get a interest rate super low. You get a low interest rate for the payment and you invest the money in something else.
*sighs, pinches bridge of nose and closes eyes* Because he needs to build a credit history that proves he is trustworthy with payments...
Real talk Nadeshot. I'm older than you and had to learn this lesson the hard way. This is probably the best vlog you've ever made. Use your position and ability to influence in order to help others and when it's over you will have lived a good life. Thanks for sharing this hard reality.
this is the type of video that needs to be on the trending page on youtube
Fucked up his credit. That is basically the whole video summary.
not really...
CTJ Life yeah, it is..
Channy if you think that, then your a dumbass. If you weren't an idiot and actually listened, you would know the point of the video was to teach young kids (like you, little guy) to start building their credit early so their lives aren't hassled in the future. Dip shit
Cannot thank you enough for this video. My dad died when I was younger and I never got the opportunity to talk about cars and credit with him. My mother, who has horrible credit and has always been horrible with money, is obviously not someone I should go to for advice on this topic. Thank you nade.
Nadeshot. I've been watching you since Black Ops 2, and you really got me started on watching gaming commentaries and I learned what I wanted to do for the rest of my life by watching your videos. And now your channel is mainly vlogs which I can't stop watching. I never thought they'd be entertaining but I look forward to them everyday. But bro. PLEASE do us a favor and setup that damn pc and let us see your setup at least once with it😂 Love your stuff though man, and what your channel has transitioned into is just phenomenal. 👊🏼
This is great! Not many people talk about super real life issues on RUclips. You took advantage of your audience analytics and went as real as it can gets. Super props, Matt.
It's fucking 1 am Nade WTH
TheGibshome lol same
TheGibshome 2 in east coast
I'm in Nashville TN USA it's 134 am lmao
josh same!
TheGibshome it's 11 in cali
Only in America something stupid as a credit score exists.
KGP187 Credit scores are in most countries, even those in poverty. The U.S. has it more open to the public than most countries, but most have credit line and history.
YoungTracks TheRapper i have a house and 2 cars. As long as you have about 10% of the amount of money you want to lend and a steady job , they will give it to you. At least here i the EU
Lol I find it funny that its always people across the Atlantic that talk shit about America's finances. Somebody is a bit insecure.
KGP187 you have the same in other countries. In the Netherlands you have something called the BKR and they keep your loanings and debts. If you are registered there you can't get any credit and such. Good thing to keep people out of big debts.
I pretty sure most countries have a credit score or something similar to it. Sure it may not be an proper official thing in your country but I think it's safe to say that if you're ever applying for a mortgage or loan or anything of the sort, banks/lenders will look at your history in terms of paying back your loans. So it's always just good to have a good and (edit)consistent history in that department of the economy.
finally, someone on youtube has something real to offer rather than just making videos of how they spend their money. Good shit Nate
credit is KEY, if youre young and are wanting to work for some nice stuff..listen to this man
Good advice! 👍 I still remember when you won CoD XP in 2011 those were the good ol days. I've been watching this channel for a looong time now. I remember when you promised to quit your job at McDonalds when you were going to hit 50K! Lol Proud subscriber and proud supporter of you Nadeshot
Big Tip!!
Don't take out to many credit cards to young! You start spending and spending next thing you know you start being in debt big time.
I'm so glad you did this video! I work at a credit repair company (Second Chance Financial) and I can't tell you how many people come to us not knowing how their credit score got so bad. A secure card is the best way to build your score and only use 30% of the balance on the card.
Nadeshot the type of dude to give solid advice regarding understanding your credit and it's affect on your life.
Who else cringed when Nade said "applicable"?
Theve Vlogs no because he pronounced it right
2goodforu100 nah he didnt
I cringe every time someone uses the word cringe unnecessarily just to be trendy
Lmfao word, idk maybe we pronounce it different in Canada.
cFc FiRe Haha, that is true!
Ok I won't quit competitive cod for no reason other than being board
How can someone be board?
*bored
Bored*
I mean people can be bored but I don't know how they can turn into a board
Lucas Parsons it was auto correct bud
I just wanted to post and echo what others have said, Bravo. My son being 18 and knowing he watched your videos I know he is going to see this. I have pounded into him the importance of credit so hearing this from someone he 'looks up to' will drive it home even more. Thanks!
get a credit card when you're able, use it like a debit card(a debit card is like a checkbook, but in the form of a card). never spend more then you have in your bank account. make sure you pay it a couple days before your bill is due to prevent interest being tacked on. the sooner you start building credit the better off you will be. you can have excellent in every aspect, but the main thing that will bring you down as a young adult is the time that has passed from your first credit development. Don't get too many big loans, or open too many credit cards because anymore than 3 will effect your score negatively over a 2 year span. One last thing, make sure when getting a credit card, you look into the reviews. Having a credit card reject you can hurt your score pretty bad(same as getting a loan request denied). You don't want to apply for one that you don't think you're guaranteed to get. It's SOO much easier to drop your score, then to raise it after it drops, BE CAREFUL. hope this helped somebody out.
Probably the best advice on RUclips!
The mistake was making the video 9.58 not 10 minutes for more $$$$$
I'm almost 29 years old. I myself have decent credit thanks to my parents helping me when I was younger. But this video is great. Very useful life tip to your younger crowd.
im glad someone out here is telling kids about real life problems props to you for influencing kids to improve on life, respect man.
I'm around nades age and want to add to what he said. To start building credit, get a credit card with a 500 to 1000 dollar limit. Use it for small purchases and never use it for money that you don't already have to pay the card off. Pay it off every month in full. Credit history is what helps your score the most. A big misconception is that phone, car, and utility bills count towards your credit. They really dont. A small credit card is the best way to build up your score. I cannot stress enough, never use it to buy things you don't already have money in the bank to buy the item. The only exceptions are emergencies, which it better be a damn good one. Not that you need those new yeezys asap, not an emergency. That is how people fuck themselves and can't get out of debit. Do your research and be smart with your money.The amount you use and pay off on the card doesn't matter to your score either, unless you arnt making your minimum payment. The length of time you have had the card is the most important aspect. Also remember, if you don't use the card and have no balance on it after a certain amount of time, usually 12 to 24 months, the card account will automatically be closed. Use it to buy small bullshit for a few dollars every now and then. Always pay the amount off every billing cycle!
The credit system is bullshit. ... Its crazy.
THRIQUILLED not really, it's actually pretty fair
And you can even game the system if you're know what you're doing with the airline cards
PSCproductionz how exactly is it a scam? You prove you can be indebted to someone, in order to take on a larger loan. Seems pretty fair to me
PSCproductionz okay but how? Credit is effectively trust between consumer and a company. Credit card interest shouldnt ever be needed if the buyer is responsible, and so not "trustworthy"
PSCproductionz yes but you don't pay the interest unless the balance payment on your card is missed for that month. So if youre smart, the interest isn't ever paid
And fhat my friends is why matt is awesome! Thanks man, iva had questions about this but never really cared and now im aware of a lot of things. I just turned 18 and graduated so this is right up my alley, thanks again man.
Matt you're so real for this. Keep it up my dude
Has a nice sofa
sits on the floor
Probably no good cmera angles for the height
Callum Oneil rich people
Im 18 and tryna get a Dodge Challenger rn lmao i aint got shit for credit wish me luck
Maul goodluck bud lol insurance is gonna be high as hell though lol
GreeneSkater my dad got me covered for that
Maul just blow the sales rep
Maul why the fuck would you buy a car worth more than a thousand dollars at 18 go to college dumbass
Ryan Kueter mmm. If that is bad then I don't know what you would think of me at 16 having a 25K car.
It's nice seeing a big RUclipsr share some of their negatives in life as a lesson to some younger people who might not know these things. Not many tend to share that aspect of their life, which could help others.
More of these kind of videos please!
I love your advice. Very insightful.
All you kids need to learn about Dave Ramsey, don't listen to this kids advice just because he's "rich" doesn't qualify him to talk about finance advice because this is the worst you can do to ruin your future is get a car loan
Thank you so much Nadeahot I just learned something today that I'm gonna use in the future 👌👌
Been watching you for years Matt and I have to say this was a fantastic video. With you coming from a gaming background you obviously have lots of younger people who watch you and this is incredibly great knowledge to put out there. Soak it up everyone. Good credit can make your life waaay easier when your bills aren't as much as they could be for someone with bad credit. It's all about money in the end.
I like this side about Matt. He's just the realist RUclipsr out there when it comes to money, and advice.
moral of the story buy a cheap car and build it yourself
Hoopties Limited not really
I miss your h1z1 videos bro :(
Glad to see someone talking about this. I've been saying for years that this stuff needs to be taught at school. Most people don't understand the difference between a standing order and a direct debit let alone understand credit scores and interest rates and this shouldn't be the case.
i have a huge amount of respect for you, you dont know us but you still care about our well being
You have cash? No need for credit, people with good credit just means they take a lot of loans out...
lol fucking dumbass
slimsweezy you are an idiot 😂😂
slimsweezy you are so right, these kids don't know how serious debt is and getting involved, if you can't afford to pay cash you simply can't afford and if you say you can afford the payment every month that's not the same you still can't afford it, feel sorry for this generation growing up that debt is good
I agree. This generation is going to be broke and in debt without any retirement money later on in life. So sad. I am curious how these RUclipsrs after buying these fancy cars and all will be surviving after 20 years when they're in their late 30s or 40s. This RUclips thing will only sustain them an income for so much.
Justin Albano right, RUclips will pay there bills so far and I don't wish them the worse but unless they keep making a lot of money like they do now they will get screwed when they don't make enough to pay for all their stuff they had when they were making big money kids these days don't think about the future they just think about now
Last time I came this early nadeshot was still in OpTic.....
Good video. Nice change of topic. I've been working on my credit for 1 year and a half, and finally have mine at 753, and man does it feel good to be able to walk in literally anywhere and get approved for whatever you want. Keep working on it. Also Nade, I have credit tips to get your credit up. I've personally done it and it has skyrocketed.
Amen! I went through the same shit 8 years ago. Credit is finally back to being considered "Excellent". It's amazing how 1 or 2 smaller mistakes turns into YEARS of headaches and bullshit.
Yes, if only high school actually prepared kids for real life. It's unfortunate. My credit was ruined the day I took out a big private loan to pay for the 1st year of college at age 17, not knowing any better. So, 10 years ago, and it's still messed up. I'm paying $210 per month car payments and only $160 of that goes towards the actual car payoff.
The mistake was not making the video 10 mins long for add moneys
just learned about this in personal finance and I will say you explained it way better
My high school has a class called Personal Finance and it explains everything you said in this video. It is a required class to graduate, but it is so much easier to hear it from someone with experience, instead of a teacher.
Why didn't you just pay it all up front
Because he doesnt want to.
Spxktrum ok
he probably wanted to build credit or at least he should have been thinking that at the time.
+JEFFREY Yeah, paying thousands of dollars in interest to start building credit is very logical and not an idiotic thing to do at all.....
I don't understand either... maybe because i'm not a globalized USA citizen ^^
Thanks for sharing the wisdom!
Cringe dude I swear I seen you in another comment section in another cod vid
yeah lol i love the cod community
From the last video, I wondered if credit was an issue, but didn't want to touch on it, since it's a pretty sensitive subject. Shouts to him for his transparency.
Yo, this is so nice of you for coming out and saving your fans. Bro, love you for this.
Nadeshot thanks for this advice and i feel this is somethng school should tell us in our senior year, i know algebra amd all these but were do i learn to rwgister to vote? get a driver license? pay taxes? We need to change our school teachings!
Tazr my school has a class for all this adult stuff lol like credit all the insurances taxes stock market.
NFM89 yeah we do too, buisness, legal studies, accounting, math (they teaches us parts about taxes and stuff) I live in Australia. And we all do get taught this stuff, not necessarily core subjects but they do teach us it.
NFM89 they might have these classes but there probably not mandatory and no teenager wants to take these boring classes
This is what I don't like about high school, they don't teach you these kind of things when in a few years or less your going to need them
nick garcia They do. It's called Economics.
+Julius Vasquez I'm a junior and economics isn't until senior year so my bad
nick garcia That's why it sucks, the only class you learn most things about the real world is in senior year. And if it's not AP they don't really teach you much.
when I was 16 my dad told me literally everything you just said including the thought as to why aren't these core life fundamentals taught in school? I was fortunate enough to take it to heart and I hope everything works out for you in the future man.
Good on you for putting any potential pride aside and sharing this major life lesson. So helpful to your "younger" viewers. Most people wouldn't be this transparent with people especially when they don't have to be.
I hate credit. They need to start teaching kids about it going through high school. Also in this video you didn't really talk about the fact that even if you have high/good credit doesn't mean banks or anything will just hand you money.
i mean isn't that why a lot of high schools have you take economics? So you know about taxes and credit.
Well use credit karma it's free
This is a really straight up, person to person talk. This guy is giving his experiences that's fucking legit...
GOOD JOB NADE on talking about credit! Its super important in life.
C L I C K B A I T
Why didn't you just buy the whole car with cash? Didn't u win $70k?
Because reasons...
LifeStealer just coz you have the money there doesnt mean you have to spend it. plus maybe had heaps more bills, rent and life stuff to worry bout
great video man. younger people always need to hear this. i grew up not knowing anything about credit.
its a good idea to check your credit randomly. i had a $100 hospital bill that was left unpaid for 6 years and i never recieved a bill about it. i always pay everything on time but sometimes hospitals make mistakes. unfortuntely it doesnt matter who is at fault and it damaged my credit score.
@Nadeshot Thank you so much for this video :) even though it ain't gaming related I'm still happy you took the time to explain this because yes a lot of us younger people who don't necessarily know these things about the " adult life " I'm 18 now and I still don't know a lot about these stuff lol and you're right no one actually teaches you things .. THANKS MATT!
btw you should make more videos like this and put them in their own Playlist on your channel making it easier to find, It'd be really Great
"You don't learn about this in school" comments lol you learn this in economics.
Chamous x economics isn't a mandatory class
Chamous x only pooftas take economics
or Financial Studies. That's where I learnt it from :P
i dont....
Then take an Economics of Financial Studies class...
better off putting the 10,000 in a bank account and paying an extra $100 every month... also pay one day before its due. That will raise your credit score. Yep so pay your bills.. pay them on time. It will save you a fortune interest... even you car insurance rates are based largely on your credit score.
Your a very smart man ....
he isn't your a dumbass
I'm way older than you, and female. Really appreciate this video man. Much respect for you using your videos and popularity to teach younger kids. Wish I had RUclips peeps to look up to growing up.
I'm glad I grew an interest for my future finance when I was younger. I found out about all these things. currently I'm building my credit history.
Ok Nade! Thanks man xD Is it the same with debit cards? Idk how to 'build credit' :D
No debit cards aren't for borrowing; Debit cards spend money directly from your account, where as with credit cards, your paying for things with borrowed money that isn't yours, so you pay it back at the end of the month. If you've spent too much credit on a credit card and don't have enough to pay it back, they will charge you for it (called interest) and will decrease your credit score. Overall, with a debit card, you cannot affect your credit history so if you only have a debit card, do not worry because you will not have credit history yet ;)
He regrets leaving Macdonald's or leaving OpTic lol
In my school we are required to take an online class that explains everything that was in this video and more! At the time I didnt realize how important it was to learn, but now I do. Thanks Nade
thank you so much for making this video. Im only 13 but I've been consimplating about life and my future and this video answered alot of my questions. I'll never forget this video. thx so much
+Nadeshot Just went and paid my credit card because of this video Nade lol
What was your balance?
Nade taught me more about real life then school ever did just now. Respect
kev987player How old are you?
This really shows that you care about your fans unlike a lot of the big you tubers. Good Guy Nade : )
Nadeshot. I'm 24 years old, and while I feel where you are coming from. One thing you need to understand is that not many people around our age make enough to ever be able to even think about finance options or credit. It's paycheck to paycheck out here!!
#FirstWorldProblems At least you can afford a 2012 car...ive got a 2001 car, im 23 and it took pretty much all my money...be happy you have a car.............
The video is not about the car it's about how the car messed up his credit score
At least you have a car most people have to use the bus. Have a great day! 😊👍🏽
I'm God
1. He's not complaining about his car. He's teaching people about credit scores
2. You have a functional car, and you're complaining about it. That's what a first world problem is.
***** I didnt say anything about anyone complaining...but atleast he can afford an expensive car, there are also people who worry about their credit score and drive a wreck...who then also have to worry about other stuff. Also my car is barely functional and I have to pay double car taxes for the coming 5 years because of an small accident that was barely even my fault...
***** Trying to say is, he shouldnt make small issues bigger then they are...
I thought he was gonna say don't pull out the HBR but I was wrong........................
My parent's bought me a car and financed it, I co-signed so now my credit is growing for me at a low age. So thankful we did it that way.
I work in Finance at a car Dealership. He is giving good advice. Buying cash in this day and age gets you nowhere because everything is based on credit now. Best way to start and build your credit is to get a low limit credit card and use it for everyday purchases instead of cash. You can charge the card all the way up in a month as long as you pay it down below 30% every month. That is the fastest way to shoot your score up. I did it when I was 18 and a year later I financed my first car without a cosigner, got a single digit interest rate, and the payment was right in my budget .
Pssh, why can't I just open one credit card and then buy a shitload of stuff and open another to pay that credit card off???? That will totally raise my credit score, and I'll never have to pay a bill...
TheEpicTurban This reminds of those stereotype rich Beverly Hills girls with 200 cards
No one cares if you're first :)
SectorYT first
This video is just so insightful, I hope you make more of these vids talking about day to day lessons or purchases in the "grown up" world. Stuff they def dont teach you in high school. Thanks for the content and consistency.
Thanks for the info Nade. Your one of a very few amount of RUclipsrs that would help their fans and be so open like you are. Thanks!