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
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)
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
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.
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!
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
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
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
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
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
@@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.
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.
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.
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.
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...
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.
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.
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!
@@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.
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
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!
“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!
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.
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.
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! 💖
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 :)
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!
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!!
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.
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.
I would like a video on how to make money through social media/TH-cam!! Also more on this topic would be good, because financial literacy taught us this, but u do it better💕
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
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” 😭
It’s 3 am and me, a newly graduated 8th grader, is watching a 20 minute video on how to finance and surprisingly enjoyed it. I literlly hate reading, listening, or learning about stuff like this but you make it so interesting and just enjoyable! Idk how or why but keep doin you, I hope you make more content like this and thanks for the lesson! ^^
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!
These are more debt focused but they offer really good basic advice so you don’t put yourself in a bad situation financially . The Total Money Makeover by Dave Ramsey. Anthony O’Neal’s Debt Free Degree.
Watch Dav Ramsey and Graham Stephan. Dave has a book about this type of stuff and is regarded as the king of knowledge of personal finance in the industry.
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.
19:22 I can fill in a little here. There are 2 well known types of IRAs, the traditional IRA and the Roth IRA. Both are tax advantaged in different ways. The traditional IRA is an account where you put pre tax dollars into the account. So for example, if you work part-time, you can take money from your paycheck and deposit into an IRA. When tax season rolls around, the taxes withheld from the paycheck with return to you via tax return. You will end up paying ordinary income taxes on each IRA withdrawal after retirement. The early withdrawal penalty is, iirc, 10% on top of ordinary income %. With the same scenario, you can instead put your money from your paycheck into a Roth IRA. These funds are recognized as after tax funds and when retirement rolls around and you begin withdrawing cash, you will pay 0 taxes on any of it. There is an annual maximum contribution of 6000 for those under 50 as of 2020. And the actual maximum is whichever number is lower of your taxable year's income or 6k. So if you made 5000 after taxes, you can only contribute up to 5000 because you didn't make an additional 1000 to hit 6k that year. And conversely, if you made 10k after taxes, the maximum you can contribute is 6k. Also, both accounts are cumulative. You'd max out your year's contribution with 3k in a Roth IRA and 3k in a traditional IRA. A common strategy to determine which account to contribute to is how much you are going to be taxed that fiscal year. If my earnings sit within the first tax bracket, I would put money into the Roth IRA to take advantage of the fact that I'm only being charged 10-12% today instead of a potential 20%+ when I retire with the traditional IRA. If you are already earning in a higher bracket than what you predict you'll be withdrawing at when you retire, it may be more advantageous to defer your taxes via the traditional IRA. Another limitation to IRA is that the government tightens contribution limits to any IRA if your year's earnings starts exceeding, for 2020, $124,000. And at $139,000, you wouldn't be allowed to contribute a penny to an IRA. There are other small rules regarding spouses and stuff but the main gist is most young people earning within the first 2 tax brackets may be more inclined to go with a Roth IRA. IMPORTANT!!! You CANNOT contribute to any IRA unless the earnings are reported. I have to say I don't condone cash only work but if you do cash only work (in a video game... hehe like if you know the meme), this cash is not taxed and doesn't count towards your annual income.
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
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 ^^
Maybe this app can help you take care of your money Money Manager - Financial Report - Android App Features : • Record your income and expenses • Record your transactions • Save your transaction photos • Make your own transaction category • Create financial report in PDF and XLS • Multiple book / account • Line chart and pie chart • Back up data to internal storage • User friendly interface • Pick your own theme
I was thinking of starting a soap business. Id start out with melt and pour soap base, that I already have on hand, to finance buying cold process soap materials. This video will be so useful for me.
Budgeting is important to see what direction your money needs to go. Itbis also important to track your spending. It will tell you where you are hemorrhaging money. A business will not guesstimate how much they are taking in nor going out. They do not call it micromanagement of money .They call it business clarity. Personal finance savvy people will tell you to track every penny.
having professional mentor is also very important when it comes to trading, without proper mentorship, one trend to opt out of the market early enough. I do my investment with mrs Stacy Griffin I also recommend her to anyone looking for a reliable and trusted trading
@@philipastron4332 I'm glad you know Mrs Stacy. I was introduced to her by a colleague at the office, it's been an awesome trading experience with her, now I made profits twice my monthly paycheck
I need not to worry about loss if the fluctuating price of Bitcoin persist or not, expert Mrs Stacy Griffin got all the risk management needed for trade and steadily earning my profit
I can’t really focus on a job and do student work since having an invisible disability my energy is not as easily manageable. I would love to work as a barista part time but I get tired much quicker than most people, so since i am an artist ive been considering commissions as a way to earn extra income together with my monthly allowance.
i feel old watching this going into my sophomore year of college with 2 jobs 🤦♀️ about to move out and im scared lol. so glad i got a scholarship and financial aid
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.
I hope this app can help you Money Manager - Financial Report - Android App Features : • Record your income and expenses • Record your transactions • Save your transaction photos • Make your own transaction category • Create financial report in PDF and XLS • Multiple book / account • Line chart and pie chart • Back up data to internal storage • User friendly interface • Pick your own theme
I'm in 8th grade but i'm very intrigued but budgeting, i'm just trying to make sure that in the future I don't go into debt and I know how to properly use money.
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🙏
Wow, honestly what a coincidence, I've been researching about this topic for a week and have had a lot of trouble understanding some things because most of the videos/resources I find are aimed towards people with a more stable job. Thank you for this! It cleared a lot of things, and would love it if you made more videos like this
Very good video. A fair amount of young people don't understand personal finance. I dont blame this on school because nowadays you can look up a lot of stuff on the internet and learn from it. Also love the credit score segment. A low-limit credit card is very important to start building up your credit score, you just have to be very responsible with it.
Despite the economic crisis this is the best time to invest in crypto currency Bitcoin trading right now should be at the top of every wise individuals list, in few months you'll be ecstatic with the decision you made today
In a year and a half I'll be a legal adult and it's just so stupid to think about it. It's such a short period of time and I don't think that I (or almost any teenager my age) will "grow" that much to be considered a responsible adult, and I'm high key freaking out about it... I'm so not prepared for "the real world" specially not the world that's facing a pandemic and not the world in which I can't go out alone without a high chance of not returning home just because I'm a girl. And then I freak out again when I think about how school ain't gonna teach us anything about being an adult but will make us lose so much time doing useless homeworks (and useless teachers that assign those homeworks just to have us doing something) instead of providing tools that will actually help us be successful adults. This was a rant written by me.
As a person turning 20 soon you always feel your not old enough (and I've heard it sticks with you through life!) I wouldn't deep it to much and just try live the best life you can as ultimately that's all we're here to do.
![[Full] 4 ต่อ 4 Celebrity EP.910 | 22 ก.ย. 67 | one31](http://i.ytimg.com/vi/4TR3MVpOiw8/mqdefault.jpg)
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 😂
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!
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
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
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 :)
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 managing finance will always be a lifelong challenge😭 “You’re worth it” - thank you Jasmine!
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
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
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.
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 :(
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!
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 TH-camr’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 TH-cam chapters! The creator can add them by adding timestamps in the description.
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.
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
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!
“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!
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!
this gave me crash course vibes and i am ALL FOR IT
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.
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! 💖
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!
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
Personal finance for teenagers and college aged students is SOOOOO IMPORTANT!!! ♥️
watched the ads, personal finance 💅
thank u for supplying me with some finance
I’m a 54 year old lady and your tips have really helped me. 👍🤓🌎
jasmine being the financial advisor i never knew i needed 😭
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 ❤️
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 💓
I'm definitely interested in earnint money via the Internet. WOCs unite ✊🏾
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!!
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.
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.
I would like a video on how to make money through social media/TH-cam!! 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:))
I loveeee how u broke down exactly how to budget your money and went into details about everyday activities. thank you!!
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.
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” 😭
It’s 3 am and me, a newly graduated 8th grader, is watching a 20 minute video on how to finance and surprisingly enjoyed it.
I literlly hate reading, listening, or learning about stuff like this but you make it so interesting and just enjoyable! Idk how or why but keep doin you, I hope you make more content like this and thanks for the lesson! ^^
no wait sameeeee it’s 3 am and im also a newly graduated 8th grader
When you're not old enough to open a bank account but you still watch it bc its studyquill
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!
Does anybody have any books that they recommend for beginners who want to learn more about personal finance?
yea i need to kno too
She linked some in the description
The Richest Man in Babylon
These are more debt focused but they offer really good basic advice so you don’t put yourself in a bad situation financially . The Total Money Makeover by Dave Ramsey. Anthony O’Neal’s Debt Free Degree.
Watch Dav Ramsey and Graham Stephan. Dave has a book about this type of stuff and is regarded as the king of knowledge of personal finance in the industry.
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'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.
why did i take an entire semester of financial lit for you to teach me all this in 20 minutes
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!
19:22 I can fill in a little here. There are 2 well known types of IRAs, the traditional IRA and the Roth IRA. Both are tax advantaged in different ways. The traditional IRA is an account where you put pre tax dollars into the account. So for example, if you work part-time, you can take money from your paycheck and deposit into an IRA. When tax season rolls around, the taxes withheld from the paycheck with return to you via tax return. You will end up paying ordinary income taxes on each IRA withdrawal after retirement. The early withdrawal penalty is, iirc, 10% on top of ordinary income %.
With the same scenario, you can instead put your money from your paycheck into a Roth IRA. These funds are recognized as after tax funds and when retirement rolls around and you begin withdrawing cash, you will pay 0 taxes on any of it.
There is an annual maximum contribution of 6000 for those under 50 as of 2020. And the actual maximum is whichever number is lower of your taxable year's income or 6k. So if you made 5000 after taxes, you can only contribute up to 5000 because you didn't make an additional 1000 to hit 6k that year. And conversely, if you made 10k after taxes, the maximum you can contribute is 6k. Also, both accounts are cumulative. You'd max out your year's contribution with 3k in a Roth IRA and 3k in a traditional IRA.
A common strategy to determine which account to contribute to is how much you are going to be taxed that fiscal year. If my earnings sit within the first tax bracket, I would put money into the Roth IRA to take advantage of the fact that I'm only being charged 10-12% today instead of a potential 20%+ when I retire with the traditional IRA. If you are already earning in a higher bracket than what you predict you'll be withdrawing at when you retire, it may be more advantageous to defer your taxes via the traditional IRA.
Another limitation to IRA is that the government tightens contribution limits to any IRA if your year's earnings starts exceeding, for 2020, $124,000. And at $139,000, you wouldn't be allowed to contribute a penny to an IRA.
There are other small rules regarding spouses and stuff but the main gist is most young people earning within the first 2 tax brackets may be more inclined to go with a Roth IRA.
IMPORTANT!!! You CANNOT contribute to any IRA unless the earnings are reported. I have to say I don't condone cash only work but if you do cash only work (in a video game... hehe like if you know the meme), this cash is not taxed and doesn't count towards your annual income.
I'm a teen and in my country, we are allowed to have bank accounts, so this is indeed helpful to me too, thank you for this!
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
"you're worth it" thank you so much 💜
15 watching this to prepare of making my own money and saving to leave my toxic household
i just graduated from college and this video..... yeah, i need this lmao
dude this is actually so helpful. more teens/young adults should watch this. thanks jasmine!
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 ^^
You are NEVER too young to learn about finances. Those that wait until they have an income stream to learn how to manage money make the most mistakes.
I’m not a student but this video is still really helpful!
thank you for this, it’s extremely informative! You’ve seriously helped me through highschool
hey queen! girl, you have done it again. constantly raising the bar for us all and doing it flawlessly :')
Becoming a personal finance you tuber made me a better saver I have come to realize that most people do not take care of their money
Maybe this app can help you take care of your money
Money Manager - Financial Report - Android App
Features :
• Record your income and expenses
• Record your transactions
• Save your transaction photos
• Make your own transaction category
• Create financial report in PDF and XLS
• Multiple book / account
• Line chart and pie chart
• Back up data to internal storage
• User friendly interface
• Pick your own theme
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I was thinking of starting a soap business. Id start out with melt and pour soap base, that I already have on hand, to finance buying cold process soap materials. This video will be so useful for me.
good luck! I think that could be a really successful business 💖
Budgeting is important to see what direction your money needs to go. Itbis also important to track your spending. It will tell you where you are hemorrhaging money. A business will not guesstimate how much they are taking in nor going out. They do not call it micromanagement of money .They call it business clarity. Personal finance savvy people will tell you to track every penny.
This is very helpful as a beginner. It has helped me understand terms very well compared to other ways they've been defined :)
Been trying to learn this forex trading
So I wanted to buy Bitcoin and trade on my own but I still can't grasp the entire concept
having professional mentor is also very important when it comes to trading, without proper mentorship, one trend to opt out of the market early enough. I do my investment with mrs Stacy Griffin I also recommend her to anyone looking for a reliable and trusted trading
@@philipastron4332 I'm glad you know Mrs Stacy. I was introduced to her by a colleague at the office, it's been an awesome trading experience with her, now I made profits twice my monthly paycheck
i never knew crypto trading was this lucrative. I'm still overwhelmed because this exceeded my expectations, I lack the skill but I earn while I learn
I need not to worry about loss if the fluctuating price of Bitcoin persist or not, expert Mrs Stacy Griffin got all the risk management needed for trade and steadily earning my profit
my winning ratio on expert Mrs Stacy Griffin platform has been exponentially propounded thereby allowing a swift withdrawals method
I can’t really focus on a job and do student work since having an invisible disability my energy is not as easily manageable. I would love to work as a barista part time but I get tired much quicker than most people, so since i am an artist ive been considering commissions as a way to earn extra income together with my monthly allowance.
i feel old watching this going into my sophomore year of college with 2 jobs 🤦♀️ about to move out and im scared lol. so glad i got a scholarship and financial aid
All the best! I’m 25 😮💨
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.
@Joe Robert I’ve read about Dan Raziel, the reviews are impressive, how has he enhanced your earnings?
I’m a 54 year old lady and your tips have really helped me.
my friend made me promise that i'm gonna take some quality 'me time' today, so here i am, binge-watching studyquill.
I hope this app can help you
Money Manager - Financial Report - Android App
Features :
• Record your income and expenses
• Record your transactions
• Save your transaction photos
• Make your own transaction category
• Create financial report in PDF and XLS
• Multiple book / account
• Line chart and pie chart
• Back up data to internal storage
• User friendly interface
• Pick your own theme
th-cam.com/video/mrrSF_vDF3Qh/w-d-xo.htmlttps://th-cam.com/video/mrrSF_vDF3Q/w-d-xo.html
I'm in 8th grade but i'm very intrigued but budgeting, i'm just trying to make sure that in the future I don't go into debt and I know how to properly use money.
Ok but you actually convinced me to get grammarly
I would love to hear more about making money on the internet, I think that would be a great topic to talk about since you're so inspirational. :)
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!
U make everything so simple n interesting like why am I excited about personal finance rn
thank you, this is super helpful! and i think we’d all love to see tips for monetizing online side hustles!
Im a freshman in high school and i want to invest as soon as possible 😊🙏 tysm for this video it is so helpful..
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🙏
Im happy to learn a little bit about finance in a quite young age,because ive been earning some money on my doggie duties!
Wow, honestly what a coincidence, I've been researching about this topic for a week and have had a lot of trouble understanding some things because most of the videos/resources I find are aimed towards people with a more stable job. Thank you for this! It cleared a lot of things, and would love it if you made more videos like this
Oh oh! I just saw your instagram post! I'd love to see more budgeting spreads and journaling systems for personal finance
students these days are definitely lacking that financial education! But its getting better! Thanks to youtubers :)
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!
I just completely a whole summer course for personal finance last week, and this vid essentially sums up that 5 week course
Idk about everyone else in the US, but area requires all students to take personal finance in order to graduate HS
Very good video. A fair amount of young people don't understand personal finance. I dont blame this on school because nowadays you can look up a lot of stuff on the internet and learn from it. Also love the credit score segment. A low-limit credit card is very important to start building up your credit score, you just have to be very responsible with it.
jasmine teaching us more life skills than school ever will
Despite the economic crisis this is the best time to invest in crypto currency
Bitcoin trading right now should be at the top of every wise individuals list, in few months you'll be ecstatic with the decision you made today
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Ᏼ • Ꮖ • Ꮯ Ꭺ • Ꮑ • Ꭰ • Ꭼ • Ꮖ • Ꮋ ....
In a year and a half I'll be a legal adult and it's just so stupid to think about it. It's such a short period of time and I don't think that I (or almost any teenager my age) will "grow" that much to be considered a responsible adult, and I'm high key freaking out about it... I'm so not prepared for "the real world" specially not the world that's facing a pandemic and not the world in which I can't go out alone without a high chance of not returning home just because I'm a girl.
And then I freak out again when I think about how school ain't gonna teach us anything about being an adult but will make us lose so much time doing useless homeworks (and useless teachers that assign those homeworks just to have us doing something) instead of providing tools that will actually help us be successful adults.
This was a rant written by me.
As a person turning 20 soon you always feel your not old enough (and I've heard it sticks with you through life!) I wouldn't deep it to much and just try live the best life you can as ultimately that's all we're here to do.
this is the refresher that i needed!
This is helped a lot. Thank you Jasmine.
Wait.
All your videos are helpful...
i love your voice its so calming
You really out here teaching us what schools don’t, thank you
i’m still in middle school but i think i’m prepared to fight debt because of jasmine educating me (*¯︶¯*)
she explains it better than the high school classes
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
Thank you for this video ❤️❤️🦋
this video was very helpful!!! thank you so much 💕
I love *#grammarly* helps me alot to improve what I wrote.