Isn't it expensive for banks to keep a separate and special Minor account? Here in Finland, parents can open an account for a minor even before the child is born, and it is a normal bank account that is in the parents' name until the child turns 15, when it is transferred to the young's name and the young gets a bank card (because in Finland, many move out of their home at 16 for secondary school studies but also because Finland is committed to complying with UN children's rights). However, you cannot get a student loan guaranteed by the Finnish government until the same year you turn 18. But all the time it's just a regular bank account.
I'm fortunate enough to be in the situation where I can live for free with my parents while commuting to my public in-state university. That in combination with me working since 16 (part time during school, full time during summers and breaks) will likely allow me to finish my degree debt free. Obviously this is a privileged position and not one that everyone has access to, but if you do have access to it it can make a massive difference
Totally true - this is a really great strategy if you are able to pull it off. I'm glad it's worked out for you! Here's hoping it will get easier for future generations.
@@AlexQuinnYT it’s literally my go to reference (referencing Gucci, Louis V, etc) or that Stonks only go up. So don’t take it personally it’s just a joke
All very important points.. A thought crossed my mind (that's rare these days) ... I think your target audience for this video are all on Tik Tok (barf)
Great tipss! And yeah sooner you make those decisions the better!
Thanks for watching!
Learning all you can before you enter the real world is great advice.
I wish I had this information when I was a teenager. Great stuff!
Thanks so much!
Information is power!
Isn't it expensive for banks to keep a separate and special Minor account? Here in Finland, parents can open an account for a minor even before the child is born, and it is a normal bank account that is in the parents' name until the child turns 15, when it is transferred to the young's name and the young gets a bank card (because in Finland, many move out of their home at 16 for secondary school studies but also because Finland is committed to complying with UN children's rights). However, you cannot get a student loan guaranteed by the Finnish government until the same year you turn 18. But all the time it's just a regular bank account.
Going to show this to my 12th graders in homeroom tomorrow!
Oh wow that's awesome, thank you! Hope they enjoy. :)
@@AlexQuinnYT They asked a lot of good questions!
I'm fortunate enough to be in the situation where I can live for free with my parents while commuting to my public in-state university. That in combination with me working since 16 (part time during school, full time during summers and breaks) will likely allow me to finish my degree debt free. Obviously this is a privileged position and not one that everyone has access to, but if you do have access to it it can make a massive difference
Totally true - this is a really great strategy if you are able to pull it off. I'm glad it's worked out for you! Here's hoping it will get easier for future generations.
So your telling me maxing out my credit cards will affect my credit score? Time to cut out the impulse Louis Vuitton purchases
Something about your last few comments on my videos makes me think you just really love women's designer purses... 😂
@@AlexQuinnYT it’s literally my go to reference (referencing Gucci, Louis V, etc) or that Stonks only go up. So don’t take it personally it’s just a joke
All very important points.. A thought crossed my mind (that's rare these days) ... I think your target audience for this video are all on Tik Tok (barf)
I know!! My younger sister keeps telling me to make a TikTok.