10 Money Mistakes to Avoid in Your 20's

[@ElenaTaber]

To make it easier for you, here are the money mistakes to avoid in case you want to skip around to learn more about certain topics: 1:08 Not starting your retirement fund ( the earlier the better!!) 3:28 Not having an emergency fund 4:17 Get a credit card (but avoid debt) 6:20 Spending too much money on rent 7:33 Buying a new car 8:31 Not comparing prices 9:29 Not having a frugal mindset 10:15 Not having a budget 11:05 Having just one stream of revenue 12:04 Not having financial goals

[@mikejugo7630]

I reccomend this book: www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474

[@dhakafani8828]

😂😂😂💋0096898601124

[@albinpoly8044]

hello😍 From India..its really beneficial to watch your videos😊

[@TLauriks]

This was super helpful! Do you know any good books about this personal finance topic?

[@doodlesofdoodles]

@@TLauriks rich dad poor dad - the #1 best-selling personal finance book. have heard it's a great read

[@kyliep8176]

would kill to see a collab with Ashley (aka best dressed) now that she’s in nyc!!!

[@ButtonGirl22]

Kylie P yes!!! They've been hanging out a lot so it has to be coming soon (they've done one previously just fyi, idk if you've seen it)

[@skloise]

YES ESPECIALLY ABOUT FINANCES 💗💗💗 everyone needs this.

[@chenalindelossantos967]

yeeeeees pls

[@filansyel7298]

kzbin.info/www/bejne/fIvOo2qBa8ilpMk

[@nytcat925]

Yessss!! MAKE THIS HAPPEN 💖💖💖

[@smilesam]

Whenever I hear the critique of spending too much money on dinners, brunchs, drinks, etc., I feel like there's a failure to acknowledge how much eliminating such things would hurt your social life. It's a fair critique and most of us do spend too much, but you also can't just do movie nights at home all the time. Having friends and seeing them and having fun costs money. I think it's important not to spend too much, but also you don't want to be so concerned that you end up never seeing friends cuz you're unwilling to spend a few bucks on a cup of coffee for a catch up.

[@meghansullivan6812]

I’m with you!

[@pranavanand4305]

Well it depends on where you want to catch up. Often, instead of coffeeshops, I have groups of friends who congregate in someone's house for chatting, games, food, etc. We may even go out after that, but the point is to first eat and drink at a house, which is always cheaper, even when we split, and then head out. We occasionally even cook meals together. This way, hangouts rarely involve too much money but instead, more quality time together, and in private

[@katelynm4622]

This is so true! I fully believe in living your life how you want and using any money you have left over to be utilized in a portfolio :)

[@charlottehamilton7489]

It's also important to spend money at cafes and bars etc as it supports small local businesses and the economy, money needs to go in in order to come back out.

[@camilleshiii5880]

@@charlottehamilton7489 true! it's nice to spend money (not too much!) on small businesses (let's say maybe your friend or relative owns the place, which will help them!)

[@Katechap20]

As a 19 year old freshman in college, I feel SO unprepared for the real world!! My family never really talks about money and even when I have questions it's brushed off with "we'll talk about that when you're older." Um, almost 20 over here, trying to handle my money well with no experience or guidance. So thank you for making practical, well articulated videos like this!!!

[@katelynm4622]

I hear you!! I didn't know anything until I was like 22. I would have loved university to teach a required class on it at least! Lemme know if you wanna talk!!

[@samiarodriguez242]

I’m 17 and I started working when I was nine in the fields. I was so used to getting money from a young age and wasting it . This year I had zero money saved up and I was like how is this possible since I had made 10k last year (I had two jobs) . You should listen to Dave Ramsey and Chris Hogan! They are great

[@Katechap20]

Samia Rodriguez ah thank you! I will! I hate that this kind of stuff isn’t taught in school🤦🏻‍♀️

[@debtfree_living]

Makes sense

[@suzonmztd]

As a 20-year-old living in Europe (France) this video is not very relatable but still interesting to watch! We don't need to save for retirement ourselves since is taken directly from our salary (plus I don't worry about it too much because of the climate catastrophe), we don't use credit cards but only debit cards and I don't plan on a having a car since we have public transport available.

[@klara2321]

I'm from Austria and i thought the exact same thing through the entire video!

[@Aaron-ir4he]

Climate catastrophe. Lol. What a moron

[@australianctzen]

@@Aaron-ir4he you good aaron? we are definitely in the midst of a climate catastrophe

[@lindseym329]

*says climate catastrophe really casually while really not casually freaking out about impending catastrophe*

[@suzonmztd]

@Emily Stansil 70? haha not in France luckily but either way I don't have an income yet since I'm a student and like I said I'm most probably never going to retire either

[@othermonica]

your hair.. ugh.. its just so beautiful!

[@janco333]

Its a wig

[@brahminiravi4717]

@@janco333 jelly?!

[@douloureux.]

Three points in and i realize i’m too european 😂

[@kyliebenson378]

Ashpyxiating same

[@ElenaTaber]

Hahah yes! Sorry it's coming from my personal experience as an American 😅 The points closer to the second half of the video are more broad

[@klara2321]

Same hahaha I'm very glad i don't have to worry about student debt, my pension or having to spend a lot of money for a medical emergency

[@axlk-hq8qf]

omg same, for a moment there i was like wait do i have a retirement fund??

[@katiemmm]

@@klara2321 How do retirement plans/pension generally work in europe? I'm intrigued haha

[@elizamitchell8950]

it’s nice to know what you should do, but HOW do you go about actually getting started? no one really talks about the specifics, the steps by steps, the practical tips. please make more detailed videos around this subject; so interesting!

[@churelle]

Eliza Mitchell there are actually sooo many videos on KZbin about finances. My favorite people are Dave Ramsey, Gran Stephan and Aja Dang!

[@rodriguezvillamilalejandra8015]

Dave Ramsey is AMAZING!

[@fictionaldarling]

@@churelle I think it's Graham Stephan actually if anyone's looking him up but yes!!! love them!!

[@tiffanyferg]

I recommend the channels Two Cents and The Financial Diet

[@idontknow3246]

@eliza mitchell omgggg ikrrr i was thinking the same thing

[@KiaraMadisen]

YES ELENA the retirement talk is so important 👏🏼 let's take control of our money ppl

[@frankiewilliams8046]

I make over 10 000 per month at FRO ZEN PA.C OM

[@AjaDang]

Thanks for the shout out! Love seeing other women on KZbin talking about finances

[@queenlyzzye1]

When I graduated from college, I couldn't find a job to save my own life. I wanted to work in the public relations industry, hotel industry, and the fashion industry. I applied to 100s of jobs. I was not successful after one year, because everyone wanted 5 years of experience for 30-40k a year! It was absolutely disturbing. I ended up going to law school and becoming a lawyer. It took me getting into 100s of thousands in debt to find a job that pays decent in order to survive. I would advise any 20 year old to not be so hard on yourself. It's tough being a millennial! I started working at 29, and I started saving for retirement at 30 (besides the 401k). Although its not the ideal situation, it's not too late to make sound financial decisions and prepare for your future!

[@emilybeeler5774]

can i ask what your major was? i am literally wanting to do the same things you mentioned...im scared, lol!!!

[@ladye2818]

How are you liking being a lawyer?

[@TaKyraMoonlight]

Hi I’d like to know too!

[@olgacotaga13]

"Buying a new car is one of the worst financial decisions you can make" --- sooooo true! Also, it's the second worst thing for the environment :)) It makes sense to not own a car in NYC. I live in London and here's the same. The car takes longer than the tube!!

[@natasha8208]

Elena, you're very smart and wise at such a young age. Your older self will thank you a million times over! Good for you!

[@matildaonvideo]

So glad you spoke about this Elena! Finance and spending within your means is such an important topic in your twenties. Working hard to have multiple income streams and staying in a saving mindset has been key for me. I also have a budget spreadsheet where I record *everything* and it's fascinating to see just how much the small things can add up! x

[@yj6118]

I’d love a full video on getting into the “college broke” mentally. I work a standard, minimum-wage part time job, but ever since I started college and was able to receive some grants, any money saving skills I had seem to have gone out the door :( I’d love a gentle reality check lol

[@starylize]

this is a great idea!!!

[@emilyhutchinson5457]

Hey! I graduated last year and i'm working a full time job in my field, meaning I am no longer "college broke", but I still spend very little and save/invest approx. 50% of my salary. If you make goals for your savings, it helps to view your income as smaller (ex. if your paycheque was $1000, but you make it a priority to put $400/month into your savings accounts, it's easier to accept that your income is only $600, aka you still feel broke, and spend accordingly).

[@meghansullivan6812]

Me fucking too!! This stresses me out sooo much but I need it ugh

[@cassidymartin2491]

It’s just too easy to spend money that is sitting in my checking account. I set up an autosave rule on my checking account that transfers a certain amount of money to my savings account whenever my paycheck is deposited.

[@martineskaret]

My favourite moment of the month is sorting my salary into different saving pots so I absolutely loved this video PERSONAL FINANCES HECK YEAH

[@ElenaTaber]

Martine Skaret YES SAME

[@evanashley1944]

i’m currently dropping out of college because i can’t afford it. i truly needed this video now to try to help me figure out what i need to do to move forward. this video is much appreciated!

[@jessefloyd9313]

Evan Ashley same bro

[@debtfree_living]

Agreed

[@ThePinkApartment]

@evan Ashley look into cloud computing jobs!!!

[@Julianna365]

This is so fantastic, I too am a recent graduate and 23yrs old. Everything you've said needs to be blasted to our generation. I would also recommend for anyone who's going in to their first salary paying job to immediately go see a financial advisor at the bank with whom you have a checking account with already. They absolutely LOVE it when you come in and they give you FREE 101 guidance, whether its opening your first retirement account, or opening your first credit card. Thanks for this content definitely important!

[@AbigailSmith]

I like that you’re talking about finances and agree that not enough of us talk about them! Budgeting helps with saving so much, and even just looking at the numbers and roughly tracking them is helpful.

[@kaitlinmiller6279]

Okay, I just want to give a formal THANK YOU!!!! 🙏 I’m 22 and completely freaking out about my finances. I‘m almost finished with college and I still feel inadequate with my finances. I’ve been so stressed out about it, but now I feel like I have some clear steps to follow for the future! Great video 😃

[@cutpastetiedye]

Honestly, I feel like I should be taking notes, so I'll defiinitely revisit this later. A lot of times people have these videos with unhelpful/basic info, but you started out with retirement and emergency? Stuff that honestly my parents aren't even good at or open to sharing with me, so thanks.

[@ElenaTaber]

Ah yay! I'm do glad to hear this was helpful

[@EinfachxAnna]

very important theme... i am investing since i am 18 and doing budgeting for 2 Years since today

[@caitlinnicole7575]

I know this is SUCH an old video, but for those who are younger and maybe starting college or are in college, student loans will also build your credit if you didn’t know that!! I don’t trust myself to have a credit card (hence why I’m watching this video, lol) but I make small interest payments monthly (like seriously, less than if I were to go out to dinner) and I have pretty decent credit for a young adult who just graduated and has never had a credit card! It’s helped me get lower interest rates on my later student loans and offers from credit card companies for relatively low interest. It’s hard to get on our feet as a young person sometimes. We can do this y’all!

[@hannahlewis6509]

I would suggest to everyone, listen to the podcast she’s on the money 🙌🏼 it is a podcast all about empowering and educating girls to be financially independent x

[@Harnishchappy]

Where can we find that?

[@febryauliya6648]

@@Harnishchappy You can find it on spotify

[@debtfree_living]

agreed

[@alarud]

There are 2 of them with the same name :) which one you can recommend - with Molly Benjamin or Victoria Devine?

[@hannahlewis6509]

@@alarud The one with Victoria Devine. You can access it on Spotify :)

[@LILYLEFFINGWELL]

These tips are so accurate. Thankfully my parents raised me like this and it helped SO much starting my first job out of college this year

[@ledanph]

I don't know why not a lot of KZbinrs talk about these. So thankful for these tips. I feel like I know them, but it's nice to be reminded and really keep these in mind. Thank you!!

[@kirabreeden3214]

Hi Elena, I so rarely comment on youtube (I am definitely a silent viewer) but I just want you to know that I am SO GLAD you shared this with us. You are so right that this sort of thing is not talked about enough among us 20-something-year-olds and it should be! These are seriously great tips! Great video!

[@mashumedina9165]

I will literally turn 20 in 10 minutes, I would definitely use some of this tips

[@camaronious24]

mashu M. Happy birthday!

[@ashtonfaith]

happy birthday!!

[@ElenaTaber]

Happy birthday!!

[@ellaontheisland]

Happy birthday!

[@emmarushworth3016]

Happy Birthday!!

[@jordynlove3746]

When it comes to groceries I tend to buy the off brand essentials like rice and pasta. And also try to not buy too many quick meals they tend to be more expensive and you’ll go through it quickly

[@sarahweigel4361]

12% annually is far too high. 6.5% is the recommended average return to use when calculating your money's future value.

[@allmyothersubscriptions]

I agree!

[@mariep1998]

Everyone living in the US does have Social Security as well (if you work, you pay FICA taxes which funds our SS and Medicare programs)!! The point she's making when saving for retirement is to save for yourself and not relying 100% on SS because it might not be enough to sustain your lifestyle during retirement. I am 21 and I love that were becoming more open about talking about personal finances! Especially bc this is literally what I'm getting my degree on and graduating in 3 months yeeeee, love this content Elena!

[@Kwno0La]

It's really nice to have spare money to save for retirement. I live in Greece and the minimum wage that you usually get when you start working in your 20s is barely enough for monthly rent and food :)

[@cherie4665]

I think the content in this video is wayyy more useful than others out there. This is about actual financial management, not just "cut down on buying xyz" kind of stuff

[@amandaperez1242]

Money gives me anxiety , this makes me even more anxious :(

[@eyitsyaboi4527]

Same i don't like dealing with money lol money and people give me the most anxiety

[@debtfree_living]

Learn how to make it work for you

[@kelseyfoster1880]

I find some of these tips/mistakes so interesting, as an Australian. This video definitely gave me a privilege check! Realising how lucky I am not having to worry about my own retirement fund outside of where it gets invested & having great healthcare as a minimum standard. Just those simple things being taken care of makes my financial goals easier to achieve and I can focus more on saving when I'm not worried about medical emergencies etc! Great video though, I'm sure many Americans found this really helpful!

[@lenajung4915]

feel the same as a German! I'm so happy with our healthcare and retirement system (or at least I'm happy we have something like this) so I don't need to worry toooo much about stuff like that. But the rent thing for example was really interesting :D

[@sarahshiang3095]

Thanks for creating this video!

[@KateCunningham]

okay as someone approaching their 20s this video is OH so good to hear

[@midwest_loner]

The biggest things that’s hard for me, is finding side hustles. I live in a small city, and I don’t know what websites to look on for small odd jobs. I need help with this the most.

[@TheBitcoinExperience]

If you have any particular skills, you can do freelance work on Fiverr or UpWork. Alternatively, if you're good at something that you can teach, why not create a video course and upload it on Skillshare? Once it's uploaded, every minute watched by users earns you money and it's free for you to upload classes. Do the work once, get paid for however long people are watching your class.

[@dennismiller9681]

All good advice. You may want to customize for your own situation, but also realize that you are making choices and trade-offs. Spending now reduces how much you have later, and when you are much older you will likely have a hard time earning as much as in your prime. So save, invest, plan ahead. Listen to Elena's good advice. It has been said "A penny saved is a penny earned" but I say "A dollar saved is two dollars earned, especially after taxes."

[@girlsgeneration3169]

Okay, as soon as the video started, I was awestruck by her beauty.

[@byoun..]

I loved this video. Regarding the emergency fund people say you should have at least 3 months of EXPENSES saved rather than income

[@carlaroca2300]

I find this video very helpful! I'm a big believer on the "spend like you're broke"? mindset and that has helped me save quite a lot of money without even thinking about it!

[@jordanthomas1767]

Loving how more influencers are talking about money! I work in public accounting and just recently passed all my CPA exams so I really appreciate that finances are striking a chord with a lot of people. Thanks for the video!!

[@ElenaTaber]

Yess, so important!

[@emilylouden6451]

This was such a great video! I feel like many people think these points are common sense, but if we aren't taught it in school or by our parents, it's so easy to make these mistakes. Definitely reminded me of some things ive been procrastinating on (like a RSP) so thank you Elena!!

[@nicholasjdemoI]

Packing lunch is my favorite. Helps reinforce a frugal mindset!

[@ElenaTaber]

Ooo yes this is such a good one!

[@Jasaminajaca95]

I am so so SO happy to finally see someone pose something useful and helpful and not some mindless haul telling people to waste more money reinforcing consumerism!

[@michaelcheng4985]

Very good tips. I work at Bloomberg and I interned at JP Morgan Asset Management and from a finance perspective, definitely good tips. I would probably change the order you discuss the topics to highlight the order you should do each. Here's my top in order of importance. 1. Budget (I use mint too :)) 2. Build an emergency fund 3. Pay down debt (esp student loans!!) 4. Build credit (get a credit card, pay on time, etc) 5. Saving/Investing (I'd recommend index funds) I recently graduated from University so I definitely understand the struggle, but self discipline is key! Great video and you're really cute so...

[@donna_irene]

Love all these tips, these are the same ones I would have said! I ESPECIALLY stress the credit cards and having multiple. I was always told that was a bad thing and that will hurt your credit when you close accounts, but it's what has allowed me to build an amazing credit score in just a few years! Plus I prefer seeing a bill at the end of the month instead of money leaving my account by using a debit card cause it makes me more aware of how much I spend every month!

[@juliashoop961]

I would just note that you didn't consider that buying an old/used car can come with a lot of expenses as well. I'm not sure I would say to not buy a new car altogether. Maybe consider a lease, if your commute allows for the mileage limits. You give yourself the flexibility to change cars within a 3 year period, you don't pay nearly as much up front, and you avoid maintenance fees. Some leases are as low as $80 a month.

[@JustShade]

Totally! So many things we don’t think about that really set us up for financial freedom at an earlier age!

[@emmarushworth3016]

I literally needed this video! My dad is a financial advisor so I’m semi aware of things I need to be doing but it’s good to see it being discussed in a way that’s more relatable (not just my dad lecturing me)

[@agens6449]

Maybe your dad will show you actual data and sources, here Elena used 12% annual interest, that is impossible to get for over 40 years. Historically interest was about 6%, so by saving 100 dollars for 40 years, you will have $190k for your retirement, which is like...5 times too few. Also in 40 years, your $190k will be worth maybe $50k, cause things gets more expensive over the years, and think 40 years (you can check inflation for the last 40 years - things got 19.69 times more expensive!)

[@emmarushworth3016]

Agens congrats, you’ve won the award for reply no one asked for!

[@ciannacoleman5125]

Totally agree with basically everything you are talking about. I had a good financial education growing up and now with my first job I am making an effort to put all these habits in place from the very beginning. I will say that while $200 is a bit much for shoes I have found that comfortable ones are rarely under $100 unless on sale. I get a pair of shoes I like and wear them until they die though so get full benefit from the money spent (typically 5-10yrs depending on the shoe).

[@isabellakoch5564]

For groceries I find deciding what I care the most about is important. For example: I don't mind buying store brand rice but non organic eggs and meat taste weird to me so I spend more on the organic versions. Also I make my own bread and pasta! Flour and salt are so much cheaper than a loaf of bread.

[@evelandry3661]

Elena : Invest in something that makes you feel happy Me : *instantly thinks about buying new shoes* Elena : I've seen people spend 100$ to 200$ on a single part of shoes.

[@dwaynelove3820]

Shoes make me happy! Seems worth it to me *shrug*

[@natha2979]

Ocean eyes and wise advice, I find you kind and elegant

[@ashleywessel780]

Such a wise woman! Great advice(: Thank you for this

[@Buaastroctyes]

I love finance topics! I used to struggle paycheck to paycheck and sometimes I would pump $5 in my gas tank. I would borrow money from others. My parents never taught me how to save money at all...I have learned the hard way :( finally I’m able to save this year! ;) so far I save over 10k. Which 3k I invested. Also I’m going to look into retirement as well. I’m 25.

[@HelloThere604]

This video just randomly popped up in my recommendations and I am so happy it did. There is so much terrible and honestly just unreasonable financial advice out there. Most of it is a bunch of smoke and mirrors as well and they throw around numbers and terms that mean nothing. This video is absolutely perfect for 20 somethings. Simple tips with a great explanations that are easy and sensible to follow. Nailed it!

[@artyshefartsy]

You are so amazingly well-spoken and I really appreciate this video! Finances are criminally underrated in our 20s and I think it's so important to have someone guide us in the right direction! Especially someone who is going through the same things we are.

[@nataliavazquez2057]

Great video, Elena! And so so so helpful. Can’t believe I’m almost 22 and haven’t ever really thought about this! I would love to see more videos on this topic, maybe in a little more detail. Truly appreciate your wisdom and eloquence!

[@Wetlandexplorers]

Wow, these are all really great tips. I was losing sight of my finances after graduating. Now it's time to get back on track!

[@TheBitcoinExperience]

As a European myself, I'm shocked by how many here seem to believe that relying on the government to take care of you when you retire is responsible. You need to make sure that you will be comfortable when you retire, if that will even be a thing in 20, 30, 40 years. All I'm saying, guys, is that just because there is currently such a thing as state pension, doesn't mean it will still exist for when your time comes. Not to mention that the whole state pension thing is a house of cards... If there's anything you take away from this comment, let it be this. Don't rely on anyone else to provide for you! :)

[@atelierirae]

Exactly and some will only have like 600 € per month. Now try to pay rent and all the other bills with that...

[@TheBitcoinExperience]

@@atelierirae try and pay for anything with that amount when its value will have been more than halved because of inflation and money printing.

[@terilyte3152]

@@atelierirae Yeah, they're designed to be enough to survive on if you own a house and have already paid off your mortgage by the time you retire. That is pretty difficult for anyone our age so either save enough for retirement or ensure you have enough by the time you retire to buy the place you want to live in, possibly a half paid off mortgage on a larger house you can then downsize when you leave your job.

[@halfmoon3017]

That's true but we don't have things like Roth IRA, we can save but money loses value too I js don't know what to do at this point

[@Jaji813]

Hello! I'm a Graham fan....yes, I subscribed and hit the like button ;) I love your videos because I think they will resonate more with my nieces. This will be great for them! Thanks!

[@onlyvivienyouknow]

Loved this! You should do a video talking more in depth about how you got into doing side job/freelance media work!

[@milliondollarlady]

The 50, 20, 30 budgeting rule sounds like a great idea!

[@debtfree_living]

I know right!

[@tiffthrifts]

Thank you soo much for making this video. It's such an important topic in adult life that doesn't really get explained to you unless you seek it out. Some really great tips as well. I hadn't considered starting a retirement fund until later in life, but after hearing you talk about it I plan on starting one soon.

[@brbmaybe]

This video is seriously one of the best financial tips videos that I have seen! It lightly touches on 99% of the *most* important topics.

[@anapaiva8413]

Coming from a country where there's social security, opening accounts for retirement and being so worried about it is so weird to me... 😅

[@annasmith6090]

There's social security in the US but most people still invest, so they can have more for retirement. It'd be real hard/unfair for social security/the taxpayers to pay for everyone to vacation or live luxuriously throughout their retirement like a lot of people want to do. So those people plan ahead and save for extra retirement money. (not an expert but I think this is right)

[@thokozanixaba]

Anna Smith So true!

[@NathanielGE]

Research the amount you will get per week/month with that social security in your country and you will probably be suprised. It Would be to your advantage to save in a private pension as well for a better quality of life when you reach retirement.

[@sofie1011]

@@NathanielGE exactly... I am Portuguese too and knowing what my grandparents get from social security for their retirement makes me very worried lol having to pay social security plus saving on my own actually feels worse than only doing the latter

[@annasmith6090]

@@sofie1011 I honestly would rather just save for myself! I don't really trust the gov to handle social security well considering what a mess the public pension is🤦

[@soraiamoreira4131]

I’m from Portugal, and here is currently 1am... What am I doing awake? Just casually watching elena’s video 💛

[@miavila-cha]

Same, literally. Also from Portugal lmao

[@juliane.w]

Same haha, I’m from Germany

[@reganwing]

I use YNAB (You need a budget) and I LOVE IT! It's great to help understand budgeting and your own spending habits. Mint is good to track, but not the best for keeping yourself accountable. I recommend YNAB to anyone looking for a new budget system and wanting to create a healthy money mindset.

[@ciannagarza1977]

This is so helpful!!!!! Definitely recommend the side hustle part

[@FaithBetta]

I got my first credit card at 19 and my BIGGEST tip for your first credit card is to get a store credit card (I got one for the store I work for), one you can only use at a specific store, and if you can't actually afford what your purchasing then don't get it. Also, try to pay off your cc with cash if you can. Keep your cc limit usage at no more than 30%!

[@debtfree_living]

Now that you started to talk about finance, subscribed!

[@sophiebellham1727]

My company’s retirement plan is insane. I contribute 3% and they contribute an additional 8% each month. So grateful honestly 🙏🏼

[@vidamorenita5946]

Definitely bought a used car from the dealership in my 20's and I was financing the car (2015 Jeep). I had 2 jobs that sustained the payments each month and I'm not going to lie, it felt good the first like 6 months but I had regular hourly wage jobs and at one point I burned out. I was able to drop down to 1 job where I would gain commission in sales, so that helped a lot. Then life came my way and I had other things where I had to set my money for. I'm proud for keeping up until now (I'm half way there -currently) but dayumm I would've and should've bought a used car cash and dedicate most of my earnings into investing! I'm now 23, so I'm still young and I'll be fine butif u are reading this....make wise decisions!

[@jordanhollady7217]

YES OMG. Ok, not that I didn’t have tons of respect for you before, but even more respect for you after this video!! I love that you’re using your platform for great advice that some might not hear enough/at all! I feel like people our age (at least in the US) are really going to be in trouble when we get to retirement and it’s so important to start early and be smart about money. And the fact that any little bit helps in the long run - no matter what your capacity to save is, as long as you discipline yourself within reason and make sacrifices if you need to within reason! And also - the importance of spending money on experiences versus material things while we aren’t tied down, and arguably have the most freedom that most will have for the rest of our lives (families, aging, etc.). PREACH!❤️

[@sage9756]

I love these tips and love the quality of the video, not only the camera quality but all the visuals are really nice

[@genericjohn972]

Although some cars CAN gain value over time but it takes a long time for that to happen and you cant really foresee the future. A good example of this is if you were to take a 1970 VW Beetle and look at the value of it when it was new and the value of a same year Dodge Challenger and look at the value of them today. 1970 Challengers are crazy expensive compared to a 1970 VW Beetle

[@MissDoktor]

Thanks for the video, I find it super hard to save as a single mother. I am desperately searching for videos like this to motivate me and get some guidance. Thanks again

[@ChicagoAngeljai19]

This was extremelyyyyy helpful! So much insight and thorough explanations. Most of these types of vids I've seen have been just like don't buy designer or something. Great vid, as a 20 year old I found it very beneficial!

[@starangelzz]

I've never bought a new car ive always gotten them used through fb or by people and its the best decision I've ever made.

[@junexo108]

Really love your financial education videos! ❤️ hope to watch more of this category! ☺️

[@kasadilla_katelyn]

Thank you for all of this! Bunch of super helpful tips in an understandable format. I am going to have my first full time job soon and this was all good stuff to hear.

[@sophiacastano7501]

Loved loved loved this! This was my favorite video you've made, maybe ever (hard to say). It was perfect advice for where I am at in my life right now, and I made my boyfriend sit and watch it so he can benefit too.

[@ElenaTaber]

Aw yay amazing! I'm so glad you enjoyed it !!

[@maryellizabethauthor]

IM OBSESSED WITH YOUR CHANNEL. PLEASE NEVER STOP MAKING VIDEOS !! (: -much love from california !!!

[@AmieTrepanier]

I totally made alot of these mistakes will 100% pass these down to my future children!

[@churelle]

Elena this video is so helpful for others our age I feel ❤️ I’ve done a lot of the things that you said! I feel that although it’s tempting to rush into buying the next best things, all of these tips will help us be stress free in the future!

[@mroseleiyud]

Very informative! thank you so much for this video!

[@basedadri]

These are really good tips !! Thanks for recommending those apps to buy furniture off of, I’m looking to move out on my own and don’t want to spend ridiculous amounts of money furnishing the place so thank you!

[@autumnblair8065]

I’m 21. I got my first car (used) when I got my license, & it broke down right after my husband joined the military and left for BMT, so I bought a NEW car thinking I was getting a good deal, and now we have to ship overseas (3 months after I got my new car) & I have to default on a $19,000+ loan 🤦🏻‍♀️ If I tried to sell it back I would be almost $13,000 in debt for a car I don’t even have anymore... Listen to Elena. Don’t buy a new car. I didn’t know this & had to learn the hard way.

Awesome! Thx for the tips :)

[@whtsap7276]

Inquiries&guide📊🆙.

[@williamblakeestell]

These tips are life saving! I am wondering though, does anyone else live in an area where it is impossible to only spend 30% of their monthly income on rent? I live in an area where minimum wage is $7.25 and I make $15 (which I know is not a lot at all but I am super thankful for 🙏🏼) but a one bedroom apartment is $850 on the low end...

[@gwynneio]

Girl with you.... our minimum wage is 12 (I make a bit more and am full time) but studios are 1000-1400!!!

[@scottmosier3183]

I live in Miami, and the cheapest rent is like $1000, and those places are so far from where I work, so I end up paying an extra $200 on gas just to get to work and back home and then $100 on tolls every month. I make $17/hr, and after taxes, insurance, and 401k im not left with much to spend for rent, food or anything else. Also dont forget little payments that add up, like phone, grocery's, minimum payments on your credit cards, car payments, just those little payments can equal up to $400+ a month.

[@anjaniepriya]

Im in South FL, I'm 28, I live paycheck to paycheck and get paid $14 an hour. I live with my bf who makes the same amount and our rent is $1200. Car insurance, phone, gas, groceiries, laundry, internet, water, electric, student loan payment and gym membership all add up to almost a week's paycheck and it also takes 3 weeks to save for rent. There is no rent cheaper than $1000 and those under $1200 do not have central ac and other amenities like a dishwasher and washing machine/dryer. I just have central ac. I work at a corporate job and I cannot save enough "emergency fund" to be able to leave it and survive orientation/training waiting for a check elsewhere.

[@scottmosier3183]

@@anjaniepriya I forgot to include things like internet, tv, water, electricity, etc.. its nuts in south Florida, unless you live in pretty dangerous areas like over town, Florida city, liberty city, etc.. cause you can live in the beans for $800, but there are shootings everyday.

[@AmyyLynnKemp123]

agreed! this point mega annoyed me because for me it was super difficult to find a reasonable balance between spending loads on commuting to work and not spending insane amounts on rent... like no one aims to spend loads on rent

[@richbitchfinance9747]

Yes! I waited to start contributing to my 401K at my first job and that’s my biggest money regret! Compound interest is seriously amazing. I just posted a similar video on my 3 biggest money mistakes I made in my 20s. Ugh! You live and you learn! Great video!

[@byari]

I’m 17 now but these tips definitely come in handy as I’ll be studying overseas and I’m trying to be financially independent! xx

[@juni999]

Thanks, Elena! This is so important for me especially for manage cash flows! it’s simple but i think I always forget about my daily spends.

[@ElenaTaber]

Yes, I still do all the time! Such an important thing to keep in mind

[@nottheshreeyouknow]

thankyou SO MUCH Elena! this is SUCH an amazing video!

[@genericjohn972]

This was a really well done video, I really like how you explained this and being only 20 I need to understand how money works and how to save it more

[@peymanforooghi6642]

I make huge profits on my investment since i started trading with Kodyfxt on insta, his trading strategies are top notch coupled with the little commission he charges on his trade.

[@olazurike]

thank u so much elena

[@emrysam]

My main problem is trying to keep my rent low. I live in a shoebox and it's expensive but at least it helps me save on transportation which is also very expensive where I live. I guess you have to consider all of your bills that will also depend on the kind of house you choose to live in! And do consider your mental health: if it makes you unhappy to live in a shared apartment, don't do it unless you have no other choice.

[@AllySheehan]

Such a great, helpful video dude!! Since this is finance based, I hope your CPM on this is SKY HIGH