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THE REALEST FINANCIAL ADVICE I WISH SOMEONE TOLD ME 💰 | DamonAndJo
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- เผยแพร่เมื่อ 5 ก.ย. 2019
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Subscribe to Jo Franco channel ➡️ bit.ly/3ecJc3j Despite getting a business degree I didn't learn any of this financial advice in school. Since no one told me how to manage my money, I figured it out through trial and error and here's the advice I wish someone told me.
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Things you should click on that I mentioned in this video:
Racial wealth gap doc on Netflix called EXPLAINED, episode: Racial Wealth Gap
Download Acorns: acorns.com/inv...
Mint for budgeting: www.mint.com
Credit Karma to track your credit score: www.creditkarma.com
Video 1 → How we make money • HOW WE MAKE MONEY AS T...
Video 2 → How to save money for travel • HOW TO SAVE MONEY FOR ...
Video 3 → Thoughts on college • WHAT SHOULD OUR COLLEG...
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About Damon and Jo:
It’s Damon. It’s Jo. And It’s Damon and Jo. Ok so look, we got tired of all the boring, predictable lifestyle and travel content out there, so we took matters into our own hands and started filming our travels, and adventures around the globe, in 5+ languages.
THE REALEST FINANCIAL ADVICE I WISH SOMEONE TOLD ME 💰 | DamonAndJo
• THE REALEST FINANCIAL ...
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Financial advice you don't hear any TH-camrs mention: If you're still in school, try to maintain a decent grade point average because then you can qualify for interdepartmental scholarships/ bursaries that help you pay off the coming semester or year. You might not have a scholarship entering school but you can gain scholarships throughout your time there.
If I may add, some car insurance companies have student discount rates for 3.0+ gpa's, so, good grades may equal less expensive insurance!
Wow, I didn't know that! I graduated and maintained a GPA of 3.8-3.9. That would have helped me.
also sometimes working at the university could mean discounted tuition! in washington state, if you work on campus, you get 6 credits for free.
Attend! A! Community! College! Instead going to a state school and graduating with debt!!
Work your ass off on your GPA + on your SAT score. Many universities offer full tuitions and full rides if you have a +3.5 GPA and a +1300 SAT
Tips from an independent 19 year old:
1. Pay rent and bills early so you won’t accidentally loose out on that money having fun
2.Go to restaurants or coffee shops etc and take pictures of the recipes so you can make your favorite things at home ex: I make my own smoothies and salads from taking the recipes off menu boards
3. Buy in bulk because even if you live by yourself you will still need lots of supplies over time example: I live by myself but I buy family size toilet paper and trash bags etc so I hardly have to buy it
How do u earn money?
Melissa Rht a job
if you don’t already, use facebook to buy bundles for cheap (soap,detergent,toothpaste) it’s mad cheap! i’ll mos def use ur tips!!
@@AyasDiary01 Facebook? How?
7Mushrooms7 search local buy/sell groups for your area/city and join them. usually there’s a person who’s selling household bundles for cheap.
My best financial advice yet is to get rid of all leeches. Financial leeches,time leeches, emotional leeches everything. Spending time with people that have bad spending habits, that aren't in the same situation as you, with the same mentality never works out. That's the moment you notice people are insensintive and all you're doing is chasing a lifestyle, their lifestyle. It's always important that while you're with people to remember what tf your wallet look like and to maintain you're boundaries.
So true.
I agree!! Just did it and now I have so much money for travel!
levi THIS 🙏🏽🙏🏽🙏🏽🙏🏽
#bestadviceever
You are completely right!!! Could't agree more
Yo I just paid off my last piece of debt yesterday! Ayee savings and investments here I come 🥳
Ahh congrats that must feel so good❤
Nice!! I wish you all the best
Congrats!!! Now you can start the accumulation phase then move into the snowball - avalanche when you are investing and your invested money starts making money.
Congratulations!!
Huge accomplishment! CongratS!
Always live below your means, no matter how financially comfortable you think you are.
you're basically saying people shouldn't treat themselves as much (shopping for quality wigs, getting nails done, facials, vacations, or designer clothing that has good quality). These things may be looked as "not necessary" but it does have an impact on health. I try getting my hair done once a month because its damaged and I'm trying to get it healthy again. As well as see a cosmetic dermatologist. They both boost my self esteem!
simaya ehime really sis?😑 really? Quality wigs, designer clothes, facials, and getting ur hair and nails done impact ur health? Ur talking bout a whooole host of other things that have nothing to do with what u buy. Self esteem and treating urself aren’t things that have to be bought. Maybe try gaining a better source of self esteem and validation than material things? You sound like someone with caviar tastes on a ramen noodle budget.
I’m not calling u broke coz I don’t know u but all those are complete non-necessities and a drain on people’s finances. Yes, u shouldn’t treat itself as much. If these things were more constant they wouldn’t be a treat that’s literally just a lifestyle. A lifestyle that is completely unsustainable for most people. There’s a spectrum between complete and utter deprivation of the finer things in life for the sake of better finances vs actually advocating that bougee and unnecessary ass items are actually necessary for self care and your health. You completely missed the mark and on the extreme end of one side of the spectrum. Jeez.
simaya ehime this isnt me telling u what to spend ur money on either, that’s ur business and ur choice but coming in here trying to rationalize them in a way that make it seem like it could be a detriment to mental health is just insane. Of course physical appearance can affect mental health. But again, There’s a balance and spectrum to it and ur response to it is just off on one extreme side of that balance. Just...no.
simaya ehime I think you’re being dishonest by saying she’s “basically saying” something she’s not saying. She never said to not treat yourself. Live below your means means that if you have 200$ at the end of the months expenses for entertainment you only spend 150 or ideally 100. You can still fit a couple of nice experiences or “treats” for yourself in there especially if you choose low cost treats. But it’s way better than spending the full 200 a month in the long run
@@nairabee245 *bousegie not bougee nor bougie!
School literally taught me nothing about finance (not even how to write a check). I honestly think that this is a part of capitalism, keep us dumb and spending frivolously.
Sh*t I still don't know how to write a check ! 😁
A freaking random math workbook taught me how to write a check in 4th grade and I don't even remember it and idk how money works AT ALL
@@carolinejung7881 Same! I was taught at 12 years old. Why tf does a 12 year old need to learn how to write a check.
There was a financial literary class in my high school as a choice for math but it was considered a bad decision to take it because it was a “Lower level class” and if you were a “good student” you were supposed to take calc or trig that year. I had to argue to take the only class that actually taught me a little...
It's not capitalism that keeps people dumb and spending frivolously. Thanks to capitalism we have innovations such as Google or access to this TH-cam video for financial advice. You've never seen any innovation or state-of-the-art technology to give access to instantaneous education come from a communist or socialist country that wasn't either a) stolen or b) unethically sourced by paying working substandard wages in horrific working condition (another plus of capitalism). Capitalism is also the reason you get to choose what you do with your money and you aren't taxed at 70% to 80% of your income by a socialist regime to serve "the greater good" which inevitably goes into the pocket of a centralized government and not evenly distributed to the people. Don't think for a second capitalism is perfect, but it's what gives you your freedoms, like the freedom for a well-balanced wallet!
Also if you use a credit card make sure you have the money to pay for it. DO NOT USE A CREDIT CARD IF YOU ARE BROKE!!!
"DO NOT USE A CREDIT CARD IF YOU ARE BROKE!!!" Actually, I encourage the opposite. If you are poor it's super important to build your credit up with a card. You'll need good credit to get better deals on places you'll rent and things that you'll want to buy. Credit cards are great. You just have to use them responsibly.
@@courtr1588 If you are broke, you wont be able to pay your balance in full. Your credit score will drop and also your balance will increase because of interests. So... yeah don't use credit card when you are broke. Only use your credit card when you know you can pay for it in full. If you want to build your credit and get better deals, just charge your credit card something small every month (i.e spotify $5). Set the autopay in full and start building your credit score. You dont need to spend a buttload of money to get good credit. You only need to pay your balance in full every month.
@@Pupito24 What do you consider broke? Zero income and zero assets [cash]? Even broke people have regular bills to pay in most instances, even if they're not completely self sufficient. This can be a cell phone bill, utility bills *in some areas, gum, even food. Most people spend money on food each month, no matter how much or how little. It's all about self control and setting up a system of assigning actions to the money you physically or even electronically have.
Court Rochon if you are poor, you dont have to money to spend with your credit card. For Credit CARds you at least be able to afford to pay for things.
@@Churros1616 What is your definition of poor? Zero assets [cash] and zero income? I know a lot of people not too far above that who can pay for things and who are building their credit including myself.
It makes me mad how few views your recent videos have. Whether you are an active traveler or not, this is quality content.
Tanvi Kejriwal she just posted it yesterday and already has 42k views lol. This video will get the views it deserves trust me lol
I feel like a lot of people don't like to talk about money because there's a lot of 'shame' surrounding it, especially if you don't have much and could be saving more, you feel guilty - I think thats why she gets fewer views - which sucks because this is SO helpful.
Well, there are a lot of videos on the same topic. But I'm sure it will get more views. Heck, I'm here because it showed up in my newsfeed and the sistah looked cute in the thumbnail😊
That's a fact 2 mins in I was like she's the shit. So real with the immigrant story. My mom was an immigrant and relied on Grant's and easy money. Still financially illiterate and in debt.
Great timing for this video, life is getting expensive 😫
yeah! im feeling it big time at the start of school right now!!! but we can do this!!!
I was thinking the same thing! I really need some financial tips,!😩😭
Getting? It is..
Lol, it's also funny how when older people talk about how far a very modest salary would get them back in the day in terms of housing costs, going to the movies, cars, and food.
No lies!
To everyone who is thinking of starting their own business, believe in yourself and never give up.Your future self will be thankful
Forex/Bitcoin trading is more profitable and a big chance to make more money nowadays.
Yes sure, forex is a more profitable online busines.
Forex? I had interest in forex trading and crypto stocks investments but was discouraged by friends and family, I was being ignorant though
I have been trading for over 7months now
with no good returns rather get loss account blown
You gotta see investors scared and loose funds due to ignorance
THANK YOU for giving tips to those of us who grew up in poverty AND are immigrants and POC. It's hard to follow typical books and tips because the audience is not us... THIS IS A GODSEND
Catherine Ortega omg I never thought I would find you on youtube! 😂😂 this is a small world
@@catamago98 Haha! Isn't this video great I've been trying to use them all. I need to watch it again to make sure I didn't miss any good tips
@@catamago98 If you need to find me again I am researching new baking recipes XD
Catherine Ortega it’s amazing! I love Damon and Jo, they always have great life tips I learn a lot
Catherine Ortega lol noted
To quote Mr. Beyoncé Knowles-Carter, "You can't afford something unless you can buy it twice"
Also: always pay your interest with your base payment. If you have a monthly bill of $100 for a loan, and the loan has 8% interest, your bill is not actually $100, it's $108. It also affects your credit score.
"Always pay your interest with your base payment"
I'm going to start doing this this month forward! What a great tip that I NEVER thought about!! Thank you.
whats a base payment?
@@junnieschapter8292 it's the outstanding amount due before interest is calculated: most of the time, the amount you see is the base payment, lenders will rarely list the money you owe in interest along with the base amount due.
If you are using a credit card correctly, you shouldn't be earning interest. If you buy stuff on your card, when you get that statement pay it down to zero. There isn't any interest tacked on unless you go a month only paying the minimum payment.
@@13Loverlies1 Except that I was talking about a loan, not a credit card
This financial advice for our generation is SO IMPORTANT! Thank you sm for doing this
I feel like TH-cam has been watching me struggle and brought me to you 😭
lol!
Research the 50/30/20 rule !! Basically, 50% of your income would go to your expenses/ debt,
30% to your investments,
and 20% to your savings 💫
If I had it to do over again. Starting in my 20's or even teens. I would spend 50% towards savings, 40% for investments, and 10% for travel or expenses/bills. That's because as you get older, you slow down or come across more unexpectant complicated life issues that could interrupt your long term financial or life goals as time goes on.
@@skywalker6648 Eh, realistically I don't think 10% would be enough to even cover bills in a month, at least when talking about what a teen or someone in their 20's would most likely make.
Yes! I personalized 50/30/20 in my own way. 50% go to my bills/debt/groceries, 30% go to my savings/investments, and 20% is my fun money/travel/going out to eat lol.
@@lauravsworldtattoos Lol, "realistically speaking", that could mean you are living beyond your means or not earning enough. Because if you are in your teens or 20's as I mentioned, you are most likely still living at home or college. So your expenses shouldn't be that high in the first place. If you are not living "at home" and living on your own. I still suggest spending as little as possible on your expenses. For example, get one or two roommates if need be, to divide the costs up while you build up your income. Take on extra gigs if you can. It can be done, you just have to make smarter decisions with your budget and stay fit as possible. Good luck and I get what you are saying. It's does take discipline.
Saving never makes sense to me tbh. Your return in securities is way higher than bank interest and the only reason to not invest banked savings would be that if you need access to a lot of cash in a down market swing you might be in trouble, but if you have enough invested, after a few years you should have enough that this isn't a worry.
Idk, this is just me. I don't have a savings account even though I don't have enough in investments as a cushion, but I also know I have the privilege of my parents who are well off.
So many people act like immigrants and low income people are just sitting around and not doing anything which is not true at all! We need to show the new generations of children that they can break the cycle💗🙌🏾
Let me say 🙏🏿🙏🏿🙏🏿 amen.
This generation NEEDS to listen to this. In every language ASAP. Thank you Jo, because this is so real and so frustating to people that start under 0. My life is starting now that I passed that line. I'm investing in studies now, going to college to start growing from that. That's what I love to do and with this tips, I think I'm going higher with them. So thank you ❤
Tales Felipe Agreed. What are you studying, if you don’t mind?
@@anastasiah8683 Administration
Anastasia H a
Anything in the field of accounting, engineering, medicine, law, and computers will get you far with a GOOD salary. Since you didn't specify what kind of Administration you are studying, I would advise you to either change to the aforementioned fields or at least add classes related to them and get as high of GPA you can get. Good Luck.
I feel like being financially responsible isn’t something that’s talked about enough. Super good vid, can’t go wrong w/ some more 💰 tips
Solo-traveled through Europe by train at age 18 and kept my bank account still PHAT, totally an experience. Being financial independent is the way to go :)
You ought to do a video on how you did it
@@dahenry8888 true. Would help many young people.
How advice please 😭😭
please let us KNOWWW 😭
I would so definitely do a video about it if I wasnt so awkward INFRONT of my camera! But lemme try, if not, I will just tell you guys here :)
I got my first credit card in college when I had very little income and I got trapped by paying for expensive books and only paying the minimum.
I also had no system for when to buy things with cash, debit card, or credit card. I was all over the place.
As soon as I was able to I paid off my credit card and switched to only using the credit card for how much I could afford to pay off of the previous balance IN FULL by the time it was due.
I now rarely use my debit card because it's the account I pay my credit card with. I just pay for everything with the credit card so I can get those points for stuff I'm already buying.
So basically now instead of owing interest for using the card I'm making more money to use it.
That's winning at credit cards!
Lol, I always got my books on amazon, sometimes used or at the library and saved a lot of money. I hope you at least resold those books. That's good you learned how to use your credit card responsibly.
I am usually a silent watcher but damn I have always wondered about these questions and you explained it in such an easy way.
All I want to say is thanks Jo, you' re kinda like the big sister I never had.
Thanks and lots of love from Germany ❤️🇩🇪
P. S.: Now I can keep my *shmoney* growing 💲💲💲💯
use your credit card like a debit card!!!!!
Hi explained this more please I have both I am not sure I understand I have -4 credit card plus debit thank you for your help..
I have challenged myself to put away 50% of my monthly income into dividend stocks which is quite easy since I live frugal without debt. I work as an account executive, and make over $20000. $10000 goes into dividends, and the other $10000 covers my my food plus living expenses monthly. I am seeing improvements in my portfolio, dividends look certain, but I have to attribute this to only to guidance of a licensed fund manager who allocates funds to a plethora of assets. I have to stay disciplined, and remember that I’m in it for the long term. Good luck to everyone and thanks for the great video.
Sharing his details here on the comment
section might be a bit cringe but since you really want it, reach him *Alecpayden (a) g ma il. Com...* Came across him at an investment webinar. You can get all the information you need, just leave him a message.
Thanks for pointing this out. I usually skip past those since everyone can tell a spam. I also wrote him. How quickly does he respond? I will be patient though. Also, have you made any significant profit so far?
I have made over $25,000 from profits during the pandemic, more so because I was reinvesting every two weeks. His strategies cuts across major financial markets which cuts across major financial markets which I found generates more profit.
Wow that’s quite impressive!
I’m 32 and trying to get a good job and earn at and save up for the first three years, and invest more.
Graphic design is definitely NOT passive income... You can work remotely but you have to work to find the contract and to do them so not passive at all
It can be passive depending on how you work with it. Some designers have their own website, put their stuff there to sell and "that's about it" - of course that at the begining you need to do the whole marketing and SEO of your product, but you get the point
You can sell your kits. Branding kits, luts, workbooks, courses. That’s passive income
selling templates and stuff is passive
"If the money is yours, the decision is yours" THATS A WHOLE MESSAGE RIGHT THERE!!!! 🙌🏾✨
That gap is CLOSED in my family PERIOD ‼️
PERIOD. I'm gonna make sure I educate my children on finances when they're old enough. They wont struggle at all.
That awesome!!! That gap is Closed in my family as well. We have property and I taught my daughter how to budget based on 50%/30%/20% rule. She is doing awesome makes her mistakes of course but knows how to course correct in the right way.
I love how you brought up POC wealth gap on some real, real it’s REAL , REAL !
The best financial advice I was given was pay yourself first!
👏👏👏👏 have it on automatic don't even realize that it's Missing
I already know I need to focus and take notes ! You and Damon give the reaaaaalest advices
Girl can you add subtitles in Spanish because I want to share this with my aunts and uncles. Also can't wait for your first book :)
Tell your young viewers about retirement! Those thinking Social Security will be enough have another thing coming. Younger people have less $$$ to buy a house, much less have kids. It’s a good thing to plant in people’s heads.
The Financial Diet on youtube is also such a great online resource and informational tool!
Love them so much!
IT IS NOT. They just advice you to live with your parents.
Well if that is all you got..
I wish ten years ago someone had told me that college loans are predatory and WILL RUIN YOUR FINANCIAL FUTURE!! I'm almost 30 now and I will likely never be able to buy even a small house because I was told by every adult standing over me to "follow my dreams" whether it meant going to the most extravagant college or seeking a degree with low capitalistic value.
I am an immigrant, single parent, struggling just like your mother, and my 11 yo girl is on top of the financial games. She is learning early.
👏🏾👏🏾👏🏾 Well done!
Y’all have been pumping out content left and right this week. Not one complaint!
I started watching yalls videos when I was only 15! I’m 22 now and have learned soo much from both of y’all. I also remember posting a comment about visiting Texas and y’all responded.
Very happy for y’all keep up the good work ooh I also am very advanced in French by the way.
Running omg i’m from texas too! don’t know you but so proud of you for getting to level in french hope to get there one day too!
Mon Cheri hey y’all, i’m also from texas! 🤠
im obsessed w financial literacy/independence. can't wait to start investing 🤪
People see silly TH-cam videos and think it's easy but they don't see the work and business skills it takes behind the scenes! Great video.
The financial aha moment is so relatable. You are on your own as much as your family loves you.
re: the racial wealth gap & property ~~ GREAT BOOK on this: The Color of Law by Richard Rothstein
Ruth Hollenback
A book I will recommend is The Color of Money : Black Banks and the Racial Wealth Gap by Mehrsa Baradarah
That point about how having your own money means you can make the decisions is 💯💯💯 factsssss!! I know that's what I need in my life right now. I'm so glad you mentioned ethics and morals and respecting our parents too because that is very real too.
i wish i had met you when i was 16! now im 36 and not a complete financial mess but in making sure i have my finances in place i didnt quite live the life i wish i did. living by the dollar hour cost me many precious life moments
America is really a country of entrepreneurs. It seems to me it's way easier to just open up a business over there than it is in most European countries.
Flo Punkt yeah but you can live better with service in Europe
@@serendipitygate9223 the majority of people have a more comfortable life, yes I agree. But it would hardly be possible to become wealthy the same way as Damon and Jo in Europe.
@@flopunkt3665 you're limiting yourself if you think that way
Here in the Netherlands aka part of Europe, you literally walk into the KvK office, walk out half an hour later, and boom you now own a business.
Estonia has the most streamlined bureaucracy. Everything is online - they even have "virtual citizenship" that allows you to open businesses there without even entering the country.
To piggy back off your coffee machine comment, I legit went and bought a starbucks reusable cup and put my coffee from my machine in there because yolo. Starbucks is over priced and my regular decaf coffee tastes just as good XD my 5$ coffee dust lasts me so much longer XD
Good change
We love you Jo. Can you share more of your childhood experiences? I ran away as a child too and I think hearing more stories would help me a lot. Plus I'd just love to hear how you became the person you are now!
K wow how did you live
I adore how Informative you have always been!!! And damn 16 and on your own that’s major you’ve come so far I give you that !
This is so appreciated, not enough people get the financial education they need to thrive, and getting it from someone who has come from a harder background is so helpful so thank you (:
Racial wealth gap is a phrase that we need to hear more! Keep up the good work educating the chillun
Please start touring college campuses (if you haven’t already). POC students need you!!!
THIS WAS AWESOME
The racial wealth gap is REAL! I've done a video on it myself. This was great. -Akeiva
I appreciate that you identified the fact that there is a vicious financial cycle (the rich get richer, and the poor stay poor). It is sad, but true, and many people don't like to point this out.
The most important financial decision I made in my late 20s, early 30s was consolidating my student loans and locking in a lower interest rate. For so long I had an 8.25% interest rate on my loans, so I'd make a payment of $200, and like $10 would go toward the principal and the rest would go toward interest. Which means I wasn't making ANY progress. Once I was able to cut the interest rate in half, I finally saw the balance start to go down and now I'm all paid off.
my bank account has a round-up type of option where for every purchase i make through my checking account, it will round up that purchase to the nearest dollar and put that extra money directly to my savings account. it's not much but i've been using it for a few weeks and it's added up to about $20! i know there's apps that do this as well that i've heard good things about.
i also SWEAR BY keeping a list of my monthly finances! i put what i owe each month, who i owe it to/where i pay it off, what day it needs to be paid/will be auto-drawn from my account, the total amount i pay each month, how much i get paid and what days, and how much i've paid so far, then add in extras of whatever big purchases are happening that month. it's made SUCH a difference and keeps me super aware! credit karma is also amazing, plus you can file your takes through them which makes it super easy
definitely looking forward to the podcast & more financial talks!
So much TRUTH in this video!!! "I love a good glass of wine and it can open up my writing chakras..." 😂Thank you for this video. Love your energy!
It's great to bring these issues out in the open and get people thinking and talking. You hit the important point that those you hang out with affect your spending. If everybody pushes for expensive meals, drinks, and entertainment, you'll soon be broke and overextended. Same is true of how you pick your friends. Look for people who lift you up and want to be creative and responsible in building strong finances. Do potluck dinners, go hiking, visit museums, make music, look for free and low-cost entertainment. It's all around you, if you seek it out. The earlier you start making small positive changes, the faster you'll build a great financial future. Bravissima!
This is so helpful omfg thank you
I love this! I am so here for people of color being part of the conversation regarding financial literacy. On a side note- online banking delivers way better APYs than brick and mortar banks. Ally bank for example, as well as cash accounts through Wealthfront. Tommy Bryson is another TH-camr (and accountant) of color that talks more about this. This is the content we need! Bless you sis!
Thank you for uploading this. I think a way to make this series of videos more legitimate while maintaining your brand (assuming you want to continue doing them), is to bring working professionals onto your channel that work in other industries while traveling. They could provide both insight into their work and show another avenue that working adults utilize to travel the world.
where have you been all my life oh my god. my mom is also an single immigrant mom who has never taught me anything about money and savings yet yells at me constantly about my bad spending habits and how i need to save. i’m in so much debt honestly and it’s embarrassing but growing up i just never had anyone there to teach me about saving, credit card interests, etc. i blamed it on my mom all this time but you made me realize that i shouldn’t use her as a scapegoat and take accountability for my actions and educate myself to be more financially responsible because it really literally falls down to me to have my own back. soo sooo happy that this came into my recommendations i loved all the advice and tips you shared they were very realistic and practical. i’ve subscribed and can’t wait for more content! thank you for keeping it real and breaking down the stigma of the money talk 👏🏼 love your personality and energy as well ❤️
My advice is What’s good for the earth is usually good for your wallet. Invest in a water bottle don’t buy bottled water, get cleaning products you can refill. A €10 bar of soap will last 10X longer then a bottle of body wash. Lots of big brands take back there empties, saves you paying to dispose of them.
Such great advice for kids of immigrants and first gen college grads. It’s so hard navigating a system blindly.
THANK YOU FOR THIS!!! especially the part for people of colour. you're like the older sister i never had, always giving us great advice.
honestly, to me, seeing you hustle motivated me so much. I knew most things alread, I just dont know why i've never done it. Gonna start now, thank you!
So truu, bout "the vicious cycle of the richer get richer and the poorer just stay poor". lately, many of us have been checking our privilege.. and I was fortunate to grow up in a middle class home. BUT I have ALWAYS had so much admiration seeing successful people like you -- who took it upon themselves to learn everything from scratch. Thanks for sharing your story and advice!! Super informational !
we honestly need more of this, we dont really learn how to handle finances in school and it is one of the biggest aspects of our adult lives
THE EARLIEST i’ve been and it’s a Jo video wthhhhh ❤️❤️❤️
"When someone else is gonna pay you don't even get to have opinions"
That's so fucking true, that's why when I turned 18, I dropped out of fucking college and lived on my own because i can't afford college and I don't wanna live with my mom anymore so I made the decision to plunge in head first and until now I'm still learning but it's worth it. I learned more shit in 2 years than I have ever learned anything at school or in the comfort of my mom's house
I absolutely loved this video! My friends and I have been having these types of conversations a lot as we enter our last year of uni and attempt to figure out how to survive life after student loans. The source of most of my “financial independence” has been from these loans and it can be extremely discouraging to think that every penny I have earned, saved and invested over the past few years will have to go straight to paying it all back. Starting at a negative is tough but I’m committed to manifesting good money mindsets. Good luck to everyone else on this journey!
Wow this is something I needed to hear (fresh out of college and freaking out how I will survive as a first generation)
Just got back from 35 days in Europe, spent beaucoup bucks yall...
Not trying to keep up with friends that have more money than you is something EVERY college kid NEEDS to hear! It’s so key! 🔑 I swear it’s the reason why so many college kids that don’t come from a wealthy background are broke, other than college just being expensive AF of course. Thank you for highlighting some people definitely needed to hear that
This was more information about money in 25 minutes than I have received in nearly 25 years of life. Thank you for sharing!
This is a REALLY good and important video ! I think this could really help a lot of people!!!! Thank you for making this
Teach me bcz I’m a financial mess!!!! Why can’t we have both avocado toast and lattes! *cries in un-wealthy
JoshInRealLife ahahahahhaaaaaa
JoshInRealLife josh check out Graham Stephan’s videos in regards to money and investing. AS WELL AS GETTING THAT AVOCADO TOAST AND COFFEE
You can make your own avocado toast and coffee.
Learn to make them yourself then you can sell them to your friends 😜
Great advice from a young lady. If it was not for free thinking business women who gave me time and advice I would not be a homeowner today. Knowing who to trust with financial information and decisions was always my biggest hurdle, and still is! My rule of thumb: only spend what you can afford to lose. Know your impending bills 6 months into the future . Watch others and learn from their mistakes; you can pray for them but you have a responsibility to yourself not to behave like them.
I got so emotional with this video. I’m a black Brazilian girl, and my background is similar with yours: if something happen, I have to have my back. And I also have to help and got my family’s back. It’s scary and sometimes I just wanna to run, but then you remember that yourself are the place that everyone will run for. We learn how to organize our financials, because we need to survive. Thanks for sharing this tips!!! Love u
Where have you been all my life?? I’m currently struggling with debt, so thank you!
wow i just started my financial diet! what great timing! 💖
Everyone has different weaknesses with their spending - personally i would rationalise buying too much at the grocery store and then not eating half of it and have it just sit in my cupboard/ fridge. Obviously this is only going to apply to some people, but my most helpful lesson i learnt this year was to only buy things as I need them. Ignore sale items unless you KNOW you will use it ... otherwise you’ll have some random food items in your house and they become a null cost. It saved me SO much this year
Cakesandrainbows Rainbowsandcakes one of my casual jobs while im studying at uni is at a grocery store so it’s always in my face :(
“Your not starting at zero boo boo” FACTS 💯 subscribed 👍🏾
Vanguard is also a bomb investment company to use. My great-grandmother uses them, as do I, and no complaints. They are really friendly and helpful as well!
Lilith Eleanor I prefer fidelity but I buy Vanguard ETF"s in my Robinhood account for the diversity. Roth IRA will always be with Fidelity because of the no fee mutual funds. I wish she wouldn't use Acorn. Have to take time to learn about investing. Don't rely on Robo advisors. Do some of the stuff yourself.
thecreoleson I only use vanguard for Roth IRA and then I use M1 for stocks- not a lot in that one because I’m still learning about the stock market but it’s definitely a good way to learn. M1 is good, I like them! M1 retirement accounts have a fee, but I certainly don’t use that aspect. Retirement funds in general, especially for an entrepreneur, always have me concerned because who knows when you will actually retire. That’s why I don’t plan on having an actual retirement account for my retirement money!
@@TheCreoleSon89 Do you have a site where I could learn more about this? I have my debt and savings down, but i'm now wanting to learn about making passive income for the future (the whole "make money while you sleep" thing). Any resources that can explain in simple terms would be amazing.
@@wakaflacamar I gotchu Mariana, To start, Sugar Mama Tv has a lot of videos about passive income and investments. Theeverygirl website has a financial section on financial literacy topics(great topics). Clever Girl Finance on TH-cam is also a fantastic resource. Farnoosh Torabi is also another great financial person to look up. Hope these help. For Podcast look into Jean Chatzky and WSJ secrets of wealthy women. I hope you can find resources helpful.
Lilith Eleanor I love M1. Buying fractions of shares is so great. I used Fidelity for stock research and I have a Webull account too just for extra play money to do my own stuff. I am thinking M1 is a better option because it is free too but I just love Robinhood so much I can't leave lol. Great to hear young investors do what I do even though we travel. You have to if you want to be able to take complete control of your life.
Awesome vid! I'm obsessed with financial videos lately! Thanks!
I like the way you start out with the young Joanna and what you know now. Financial background counts for a lot. Everybody needs to analyze their family financial history. Great video
Just rediscovered this video again. It just made me get off the couch and start taking care of my finances again. Love it
! AMEN TO FINACIAL LITERACY ! thank you Jo
Yassss!
Omg this was bloody great^ even though I knew most of this stuff (from your earlier videos and advice ) it really just clicked with this video.
It's coming up to 4pm right now. Hopefully by midnight I'll have a plan and motivation and be back on the right mind set.
Recently I've been living paycheck to paycheck and hardly thinking of the long term... not even considered career goals or anything... so I'm gonna take a ride on this flow and take a few steps forward!
Thanks Jo x
I never got this talk from my parents, them being illegal immigrants going through almost the same thing you explained about yours. I've tried to talk to them and bring up the conversation but its not working. We've never been the type of family to sit and talk. You making this video and breaking things down for me is more help than you could ever imagine. I can come back and reference when I need to. Not only that, you have su ch a golden personality and it's so comforting to a point where I don't feel it very often with my parents. I feel like I'm in a safe environment on your channel and can trust the information I am taking with me. Thank you so much!! I'm 17 years old starting at practically zero, but you motivate me to keep learning because of the ease I feel through your vibe
Totally agree with all these points!
What helped me was saving as much as I could, making food at home, buying bulk, re-using or recycling clothes, and one thing that helps me all the time is if I want to buy something, I give it some time to think will I use this as much as I think I will and will this add any value to my life?
Not a lot of people, especially those well-off would even want to share financial advice, so thank you Jo!
the BIG SIS advice on real life finance the world needs.
*knowledge is power and that means financial power too!! And I'm so here for mama Jo with the monies talk, YESSS* 👏👏 more please, a series please!!! from a 21 year old with the dream of travel and financial freedom, just like any other Gen Z :)
Such quality content! Straight 25 mins of honest and actually useful advice. Thank you Jo, needed this
Wow this video really got me thinking because currently I’m struggling with money and I’m only 18....so glad I clicked this video thank you jo!
i don't usually comment on videos but this was so rich with such useful information, thanks for the great content!!!! you go girl
We just had our BABY SHOWER after two miscarriages 💕 and loved your tips
Christina & Josue congratulations!!!!
stop looking for attention by commenting this on everyone’s videos. congrats to your family, but keep it on your channel stop attention seeking
@@user-es2ip2gs9n one of the major mantras of d+j is to sell yourself and promote yourself bc no one will believe in you if you don't believe in yourself. props to these two for pushing the envelope and encouraging people to check out their channel (and congrats on your baby). if you're not game for self-promo i think it's best to just keep scrolling lol no harm in ignoring the things you don't like.
@@jesstucker6201 EXACTLY 💕💕💕
@@user-es2ip2gs9n this!
Financial advice I learned from my grandma: he who has the gold makes the rule...always make your own gold.
Jo, you killed it with wisdom!
Best thing I ever did was keep a monthly spreadsheet that lists my expenses and debt. It’s nice to see everything in one place so you always know what’s going on.
Thank you for this device! Jo, you are honestly one of my biggest role models and have been since I was a teenager. Thanks for keeping up the content :)
This advice came at the best time in my life omg Thank You, God sent
I’m 22 and this is still VERY helpful. There will never be a point in existence when this video is not extremely helpful, but man, I WISH I had this video back in high school.
I started at -999999 my self too at 17. Plus since then, I've been financially supporting my parents that don't live in the USA. I've been struggling to financially grow because I've always had so many responsibilities. Thankfully, slowly but surely, I've been able to increase my income as the years go by. it's been 10 years now and I've very proud of my accomplishments, even if they might seem small to some people. I've learned not to compare my self to my others since everyone's background is different, and also to accept, be thankful, and to not victimized my self.