the student guide to personal finance 💸 adulting 101
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- Опубликовано: 3 июн 2024
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in today's video we shall discuss jobs for teens, budgeting, saving, and the basics of money management. let me know if you would like more videos on any of these topics!
→ TIMESTAMPS
0:00 intro
0:43 the bare bones basics
1:50 income + jobs
3:16 grammarly demo (ad)
4:26 income + jobs, continued
5:09 checking accounts + how to avoid losing money to them
7:58 budgeting + a simple template
9:15 must-have spending (student loans, bills, groceries, etc)
10:58 nice-to-have spending (going out + shopping)
12:34 credit cards + building your credit score
14:21 savings in high-yield accounts
16:23 investing in stocks + bonds
19:09 retirement + why to start saving ASAP
20:31 final recap
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→ HELPFUL RESOURCES
⋅ the financial diet (youtube channel)
⋅ mint.com - a budgeting + spending tracker app
⋅ broke millenial by erin lowry (book + blog)
⋅ all your worth by amelia warren tyagi + elizabeth warren (book)
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thanks grammarly for sponsoring this video! visit grammarly.com/studyquill to get started + get 20% off a premium subscription. timestamps below ↓↓↓
→ TIMESTAMP
S
0:00 intro
0:43 the bare bones basics
1:50 income + jobs
3:16 grammarly demo (ad)
4:26 income + jobs, continued
5:09 checking accounts + how to avoid losing money to them
7:58 budgeting + a simple template
9:15 must-have spending (student loans, bills, groceries, etc)
10:58 nice-to-have spending (going out + shopping)
12:34 credit cards + building your credit score
14:21 savings in high-yield accounts
16:23 investing in stocks + bonds
19:09 retirement + why to start saving ASAP
20:31 final recap
Your videos are very helpful
studyquill I’m so glad you make this video, and still I don’t have a job. :’)
Hello!
Thank you for making this video it is really helpful. I was wondering if you could please make a video more into detail about retirement account especially if you want to start this at a young age (20+ years old)
Thankyou so much for this, honestly should’ve watched this right after graduation 😅better late than never
You should really think about helping you of all genders and people not just women cuz they're young men out there too we're trying to build well thank you
Why am I watching this? My only stream of income is getting red packets from family and friends during Chinese New Year
Jelly Fish lmao sounds like me
Omg same
MEEE
my only income is asking my parents for money when a bake sale rolls around and then blowing it on other types of food at a supermarket before school
Sis exposed everyone in the comment section 😂
A couple things:
1. Jasmine, your makeup looks bomb!
2. Can you make "Adulting 101" a series? Like school doesn't teach us personal finance, taxes, how to apply for jobs, how to live on our own, etc. and those things are really important!
thats a really nice suggestion! I hope she does that
that’s a great idea! looking for her to do that.
i had an entire course in high school 101 on finance and money management lol what i thought this was mandatory for everyone
YESSSS please jasmineb
Jasmine teaches us more than school lol
Biggest tip to everyone - ALWAYS ask if there is a student discount. So many places have them and no one even knows. Even a lot of online websites have discounts. Local food shops, movie theaters, clothing stores, ect will have student discounts that they don’t necessarily promote.
Really? They do??
@@leesu4379 yep
Places like staples do, so do some book stores
This is how I got Spotify and Hulu for five dollars total lol
Y'all SHEIN has a highschool and uni/college student discounts!
everyone's favorite college role modelis teaching 12 yo me how money works. yay thanks
Same honestly! 😂
man I be 11 years old
Same lol
same haha
Omg same I'm young for my year sooo yeah
The tip to reduce your telephone bill/Wi-Fi is really effective. I called the company months ago saying that I wont avail their service anymore and they reduced it 30% of the bill
wOw
this!! Sometimes wi-fi company just suck out your money while (sometimes) giving shitty connection. Then I called saying I won't use their services anymore, they just gave me 50% off for a year lol
Im gonna have my parents do this to save money. Oh also i could help my mom get a new phone since hers sucks right now lol
This in Argentina is a basic. The cellphones bill went up a lot during this year and we couldn't afford 3000 pesos if we weren't using it at all so my mom called to cancel 2 of the 3 lines we got since my dad needs it and we got 50% off in all the lines. Also did it with the internet company and got a 30% off. If you can negotiate do it and if it still is too much say you will cancel, they know you will find a better promotion somewhere else and will give you anything you want practically.
Personal Finance in 9th grade taught me to follow the 50-20-30 rule 😅 50 percent of your income goes towards things you need (bills and things like that), 20 percent goes to your savings, and 30 percent is personal
That only works if you earn enough :(
Check out Financial Nutrition for more finance content!
@@Jordan-db2og You can always adjust the numbers to fit how much you make
I’ve heard of that in 6th grade
I learned that a few months ago (I'm in 11th grade) in my Business Admin. Class. Sadly it's not a required class so there's practically no students that take it
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking the bold steps we need in other to reach our goals.
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name *PRISCILLA DIANE AIVAZIAN* and everything changed. I started enjoying huge returns from my investment.
Alright, thanks but how can I reach out to PRISCILLA DIANE AIVAZIAN?
Surf the web for her info it's easier to get on her webpage.
Thank you so much! Found her webpage and left a message. Hopefully, she responds.
I feel like the faster you accept responsibility is the faster you become an adult no matter what age you are. I swear I became the most happy when I became self sufficient. There’s nothing more fulfilling then listening to your self and supporting yourself. I recently just did a video on the same topic pretty sure y’all will like it. Much love ❤️
Hey! Important advice for under age 18:
If you're parent/guardian has a credit card, they can add you as an authorized user. Then, when they pay the bill on time every month, by the time you turn 18, *boom* 800+ credit score.
Edit: read the replies
Ooooh what age should you start that?
@@lyoona1832 typically 14 or 15 is when you can legally become an authorized user, so anytime between that and 18 is good. Even if you're 17 it's still worth it in my opinion.
Meadow Conner okay, thanks!
What if they don’t? I mean I don’t really know what they do exactly but if they don’t then what? Will that also affect you?
Unless they’re financially irresponsible like mine lpl
You teach me things. You are my internet big sister. I do earn money with my internships but it somehow disappeares .I am a junior and your advice is gold for me.
yay i'm glad to help!! congrats on getting your internship -- good luck with everything :)
My school actually went through the trouble of teaching us most of this information, setting aside a week during the end of the semester to teach us. Thanks for the video. It’s really helpful.
your school smart
It is quite unbelievable for the fact that there are kids job you've mentioned which can really earn money.
In my home (HK), there is no such things, and we cannot work if we are under the age of 16. We will opt for part-time jobs such as working in the convenient stores, but usually most students will tend to earn money as tutors and teach primary students' homework, as academic results are emphasised by the society here.
Pak Candy i know! I'm from Hong Kong too, and it's so interesting to learn about the differences in cukture and lifestyles of different countries:)
Haha yeah I’m in hk and I’m 13, the best I could do was convince my local vet to let me work there (so I can gain experience) but then I wasn’t paid
emoghost :D still that work experience is really useful in the future!
In Argentina you cant work legally until you are 16 (15 if it is for your family) but if you get paid on cash technically you can work. The thing is it has to be culturally accepted too...
I think that’s understandable though so as to stop child labour. I just used to work for family or family friends
I feel like managing finance will always be a lifelong challenge😭 “You’re worth it” - thank you Jasmine!
I personally agree on one of the comments that says she need to do a adulting101 series! It is a good content because there are many teens that doesnt know what to because school isnt teaching us!
so true. no one ever taught me :(
“Unexpected emergencies” I’m so glad I saved my whole life bc when the pandemic hit I lost my job (waitressing) and didn’t get much from unemployment but I could pay rent still and buy food for 2-3 months because of my savings!
One thing I like doing for the "nice to have" section: as a collector, when I see something nice that's not necessarily in my wishlist atm (also thats not a limited edition cuz that's a whole other thing😂), I wait until the last minute before I decide on buying it. It helps me prevent impulse purchases! I have this mindset that if I do not remember the item after X time, then i really do not want it. I just wanted it in the moment thus more likely ending with an impulse purchase.
It really helps when there's like a deadline such as pre-order item. If not, can set a personal one like a week or until you get paid. In regards to limited edition items, usually they're announced or leaked in advance; can give you a lot of time to think about it or remember it by the launch date😂
I also do this. I write the item I want (in the moment) in a list and then wait a few days, a week or even 2 weeks until I look at that list again. If I no longer feel that want for the item, I simply remove it from the list because that means it was something I didn’t really need.
Don’t feel bad about wanting to share your skill set with others! Until we fix the “broken system”, we have to learn how to swim in it!
Why do I have such a hard time understanding anything money related?? 😭😭
it's the maths
Because you dont work
@@devinotero1798 sheesh
@@devinotero1798 bc money is complicated and hard to completely understand at first
@@devinotero1798 Then what do you recommend? I have a paralysing fear towards most stuff relating to money and it’s starting to be really detrimental, I really need help.
Older person here: you explained retirement accounts perfectly-- tax advantage means you don't have to pay taxes when you take that money out and you don't have to pay taxes on it each year when you file your taxes (aka, income tax on however much that money has grown ). It's just money that builds over time and is yours when you're old. It's also the money that's going to support you after you retire, so every cent you put in now is directly correlated to the lifestyle you'll live when you're older--If you want to be financially comfortable post-retirement, save save save!
wth since when did youtube section off their videos based on timestamps?? is this new or have i just not noticed this for a long time?
It is new. I think the creator of the video can add them if they’d like. I think it’s really cool and helpful!
i think they added them in around a month ago?
It’s not new. Many RUclipsr’s don’t do this but can be helpful. If you want to revisit and rewatch something you didn’t fully grasp.
I literally just noticed these too HAHAHA
They're RUclips chapters! The creator can add them by adding timestamps in the description.
this gave me crash course vibes and i am ALL FOR IT
watched the ads, personal finance 💅
thank u for supplying me with some finance
I love the content of today's video bc is pretty usefull for us teenagers/young adults. Please keep doing content like this. Thank You.
Check out Financial Nutrition for more finance content!
As someone who’s about to become a high school freshman this video definitely helped me out, and I would love to see one on making an income through the internet
Yeah, I'm a freshman this year too, honestly I'm kinda worried about money and this video was really helpful 💸
same
Are you a senior now or in college?
@@nonnynani2766 I'm a senior right now! it's crazy how time flies lol
When you're not old enough to open a bank account but you still watch it bc its studyquill
Personal finance for teenagers and college aged students is SOOOOO IMPORTANT!!! ♥️
I'm definitely interested in earnint money via the Internet. WOCs unite ✊🏾
Love the breakdown Jasmine. I've gradually built my finance and made my first $100k through investing as a single mother juggling work and nursing school, and with what I’ve learned investing, given enough time, solid investments have the potential to double the initial principal amount, but many investors are instead attracted to the lure of high yields in short periods of time despite the possibility of unattractive losses before even getting out. So the onus is on newbies to beware.
@Vicky Basnight As long as you diversify your portfolio, any single stock that you own shouldn’t have too much of an impact on your overall return. If it does, buying individual stocks might not be the right choice for you, as you can also try out the Roth IRA or I series bonds. Even index funds will fluctuate, so you can’t get rid of all of your risk, try how you might. With guidance, these are achievable. Levi Clemans, a pro Fiduciary oversees my portfolio. You can look him up online, and connect him.
Another gem about is that successful investment is never about being right. It's about doing thee right thing and sticking to "YOUR" plans and strategies. That's what smart investors do.
I have not written this sort of comment before but I feel compelled to. Just wanted to let you know that you’re doing a great job Clemans. You have made a difference in my understanding of the stock market.
@@mendeleyborisov92Right? But is it possible to beat the market?
Definitely! It’s no secret how rewarding and profit worthy investing in the trade market can be speaking for myself I’ve never considered going into it but I think it’s time for a change of mind. I wanted to learn how to do it myself, but I believe in mentoring, I’m only getting a rough sketch the framework. I’m most certain that I’ll make profit investing with guidance.
Honestly, any videos on how to transisition from school to adult life without smacking head first into bankruptcy would be fantastic.
I plan to move out of my mother's house when I finish my education and want to have a rough idea of what to do before then :)
oh yeah i would love to see it!
Investors looking for steady and consistent returns should consider growth stocks, a handful of stocks have garnered consistent, positive returns without wild changes in value.
Stocks is no doubt one of the simplest forms of generating passive income. I’m focused on buying top stocks breaking out past correct buy points.
Identifying the best stock is tasking, couple with so much volatility with most headline stocks. I'm at least somewhat leery of investing too much more money in the market right now.
@@rahultoggi4672 Picking the best in any category requires some work. You have to look at all the viable candidates. Then you whittle down the list to a handful of the top alternatives. You compare, contrast, and consider all of their pros and cons to settle on one winner. Most metaverse stocks are doing well.
@@seanroger6954 this is exactly why I opted for a FA Dan Raziel, he guides my investment decisions and makes research on stocks that will generate massive gains, and does the heavy lifting for me, covering every facet of investing including trading options and stocks picks for monthly and yearly gains.
@@joerobert1801 I’ve read about Dan Raziel, the reviews are impressive, how has he enhanced your earnings?
i'm high school student and I've started thinking about the future financially but money and saving and investing is such a complicated topic for me 😅i had a hard time trying to figure things out on my own, but this video was super helpful and easy to understand! thank you jasmine! 💖
This video is so refreshing compared to all of those “rich people make smart decisions” “passive income” “risky investments” personal finance videos
I just turned 18 last week and I've also just got accepted into college AND got accepted for my first job today...a lot is changing😅
how's the job going? mine's starting on wednesday
Thank you so much for this video!
I've always wondered how on earth teens transition from school to adult life without some form of guidance. I had to take getting a prepaid card into my own hands because my mother didn't care enough to take the initiative.
I'm learning more about how to secure my future from angels like you than in my own family.
I learned more in this ~20-minute video from Jasmine than I learned in my entire financial and professional management class in high school from my teacher who has a business degree... thank you so much!!
jasmine being the financial advisor i never knew i needed 😭
Also with optimizing costs: if you have medical bills/expenses that your insurance won’t cover, CALL the billing office at the facility the bill is from (for me it was the radiology center from the ER where I was in school) and explain that your insurance won’t cover the bill. They’ll usually either chop the cost down hella or write off the bill entirely, cuz they mainly charge so much under the assumption that insurance will pay, so, if it won’t, they’ll cut down the cost so they still get something, or write it off entirely so they can just get the paperwork out of their system.
thank you for this, it’s extremely informative! You’ve seriously helped me through highschool
I’m a 54 year old lady and your tips have really helped me. 👍🤓🌎
hey queen! girl, you have done it again. constantly raising the bar for us all and doing it flawlessly :')
this is EXACTLY what i needed!! i just recently started getting an income and wanted to know how to sanction that off. thank you so much!
i just wanted to say that i found this super helpful! my brain easily gets bogged down with all the different terms and complications, but this made it way easier to understand-thank you!! i'd love to see any more money-related/"adulting" topics!
As a hs student who has not taken an economics or personal finance class yet, this was an amazing video! Thank you for sharing ❤️
I would like a video on how to make money through social media/RUclips!! Also more on this topic would be good, because financial literacy taught us this, but u do it better💕
thank you for the feedback hehe! i'll add these topics to my idea list
@@studyquill great and thxx:))
Thanks so much for your effort!
Having everything layed down is such a help. The best part is having somebody your age talking to you. It makes everything more on ease. Thanks so much Quill!
Sending love from germany
literally my dad talked to me about the importance of investing and putting away x amount of income each month for retirement when i was *13*
also considering my parents made lots of money investing in stocks, theyd be very disappointed if i ever lost money from investing, and very disappointed if i ever went into credit card debt.
At least yours are educated in the world of stocks and they can give out advise. My parents think it's all a big scam and gamble. Gonna have to learn by my own with my big sister's help since she's also interested
Same except they taught me since I was about 10 and I’m 13 right now lol
@@sheria447 same my parents don’t even have a card and refuse to open one
@@Balls308they refuse to open a credit card? Thats what raises your credit.
@@Bananahotsauce330 I know nothing about banks because my parents simply never opened any accounts like ever.
I'm a rising sophomore and although I took both accounting and personal finance in freshman year, I still found this video helpful and a good refresher.
jasmine you have no idea how perfectly timed this was for me! i’m 16 and i just got my first job and need to open a bank account!
I'm so glad that I stumbled into this video since I'm still touching up on 'adulting', especially on the financial aspects. I'm weighing my pros and cons (also watching a bunch of videos about the topic) when it comes to diving into the stock market.
4:31 please YES! I have come across many internet articles but I don't want to take a risk by trusting their advice. You offer genuine content based on proper experience and research. So I would love to hear more from you about this topic ^^
Thank you for the tips! I'm freshly 18 and I started a savings and checking account at my local credit union. I love it, and online banking saves time from going to the right credit union and manually placing your money there. I'll have to do a lot more research than what this video can provide, but you made it so easy to understand big fundamentals in money management, so thank you!
Thank you so much for this video! Your analogies of the streams and the airport helped me understand these concepts better. Really helpful and engaging.
This is super helpful, even a year later! Thank you for putting so much hard work into this, I benefitted from all of the information! 💙🦋
This is very helpful as a beginner. It has helped me understand terms very well compared to other ways they've been defined :)
this should be a series! i'd definitely watch every video because this one was so helpful!
Thank you so much for this video. Super helpful and well-presented. Your time and effort is most appreciated!
thank you so much for making this video! it’s a tricky topic yet you’ve made it totally enjoyable to learn :)
You explain things so well.
This is so helpful ✨
thank you, this is super helpful! and i think we’d all love to see tips for monetizing online side hustles!
I've been waiting for a content like this from you and now you gave it 😊 thank you!!
thank you so much for this video. i got the basics so I can dig deeper afterwards. actually, I felt like that was a nightmare to sort out such things, but your way of explaining is very effective! thank you again, I've always wanted to become more responsible with my money, so that's a great start!
Hey I'm a 16 year old girl in 11th grade and your video here really helped me! Thanks 👍🏾❤️💜
You teach me many things. You are really motivating and all your videos are so helpful. Thanks for being such an amazing role model❣
dude this is actually so helpful. more teens/young adults should watch this. thanks jasmine!
Great info. and sharing with my teenage twins now! Now is the time to learn money-smarts, not waiting until they are adults and in debt!
Thank you so much!! Your videos are so helpful and informative, I really enjoy watching them 💗
Love this!! You really broke everything down perfectly!!
Thank you Jasmine for creating such a informative video. The knowledge and tips that you shared in this video are not known to lot of adults till later in life .I came across this video while trying to teach my 11 y/o daughter basic knowledge on finance .would love to see more videos this like that are so content rich.
This video was not only really helpful, but you're really engaging and funny the whole time. Also your makeup looks nice. Excellent content, 10/10 would watch again! :)
You must be very sensible with your finances and it just makes total sense to cut your expenses to a more affordable level. Great video!
This was actually really helpful and easy to understand. Great video!
thank you so much for breaking down how credit cards work, i’ve asked like 3 different people and none of them could explain it in full, the best i’ve gotten until this video is “oh, it’s like spending future money. it also builds your credit if you’re responsible” 😭
I started following you for your neat handwriting quite some time ago (you were only on tumblr at that time I believe) and I'm always happy to see your platform grow and going well. You're going to be such a good inspiration for a lot of kids and that's wonderful.
U make everything so simple n interesting like why am I excited about personal finance rn
So awesome seeing you chat finance at such a young age! Time is your best friend when it comes to building your wealth! (:
Hey, yeah I would really appreciate a video in ideas of business that you can do online! Thank you! Loved your video! Learned a lot! 🌻
JASMINE!!! YOU SAVED MY LIFE!!! FINALLY!! IT ALL MAKES SENSE IN A WAY I UNDERSTAND! Your analogies were SUPERB and you REALLY explained it well for a lay audience (AKA me!!). Please please please make so many more videos like this, you earned an INSTANT sub THANK YOU once again🙏
This was on my watch later for so long and now all social media is down so here i am 👍😃. Very informative video btw thxx💗
Awesome stuff! Thank you for sharing your knowledge with all of us!
I did change banks a few months ago, but you’ve encouraged me to change to an online bank for a higher interest rate on my savings account
this was such helpful overview to my gov/econ class, thank you jasmine!!
I like your video presentation. It is informative too, at the same time. Thanks a lot for your guidance!
I love your videos. You've totally inspired me to start my own channel as well. I hope to be just as big and to positively impact others just like you do 🙂. Great content and keep up the good work.
"you're worth it" thank you so much 💜
this is the refresher that i needed!
Adulting sounds real scary tbh...so thanks so much for this video! Love u jasmine and stay safe! 💗
Itisyixuan EXACTLY
lol i'm scared too... but i'm tackling it bit by bit! should i make "adulting 101" a series? anyways, stay safe
studyquill yes please! That would be so cool 💓
this video was very helpful!!! thank you so much 💕
i love your voice its so calming
Your video quality has been 👏🏼 STEPPING👏🏼UP👏🏼
thank you for this video 🥰🥰 the analogy is so helpful !
Yes that would be great to do more videos like this. Also could you make a video about getting good grades and /or a long study with me session
Hugely useful! I have decent financial knowledge and everything you've said is 10/10. A great review for me!
This is helped a lot. Thank you Jasmine.
Wait.
All your videos are helpful...
I thoroughly enjoyed this video! Just clicked the like button and subscribed - looking forward to more great content from your channel!
Thank you girl!! This was very helpful!!
this was really informative!! i just took a financial literacy class and this vid covered all the content we learned up until March, watching this was like a nice review :) i'm sad we couldn't learn the last unit about Insurance bc i barely know what that is lol
wow this is actually super helpful! i thought i knew all that i needed to know for the basics hehe
Thanks🙏 it was genuinely informative!
Your videos are amazing!
They always help me