The 20-Point Checklist For Getting Good With Money In Your 20s | The Financial Diet

Chelsea provides the comprehensive 20-point checklist to getting your money together over the first decade of your adult life. Get even more tips in this video: • 12 Ways To Be Better W... .
Learn more about getting great credit no matter where you're starting from with CreditRepair.com: www.creditrepair.com/?tid=17191
Read about the TFD readers rebuilding their credit here:
thefinancialdiet.com/biggest-...
thefinancialdiet.com/how-one-...
Millennials worse off than previous generations: www.cbsnews.com/news/millenni...
50/30/20 budget:
www.thebalance.com/the-50-30-...
The financial buddy system:
• The Financial Buddy Sy...
Financial terms everyone should know: learnvest.com/article/23-fina...
Different retirement accounts to check out:
www.nerdwallet.com/blog/inves...
The savings accounts everyone needs:
• The 4 Savings Accounts...
How to save an emergency fund: • How To Save An Emergen...
Zero-based budgeting:
en.wikipedia.org/wiki/Zero-ba...
Broke Millennial’s guide to investing:
www.amazon.com/Broke-Millenni...
The emotional impact of debt:
www.debt.org/advice/emotional...
The different types of financial advisors:
www.marketwatch.com/story/the...
Watch more of The Financial Diet hosted by Chelsea Fagan here: • THE FINANCIAL DIET
The Financial Diet site:
www.thefinancialdiet.com
Facebook: / thefinancialdiet
Twitter: / tfdiet
Instagram: thefinancia...

[@thefinancialdiet]

You might be better with money than you think. Check out this video to find out: kzbin.info/www/bejne/jGWUqXl3os6NqbM.

[@prettystars88]

Didn't see a list so I made one. 1) Analyze Your Purchases @1:46 2) Create a Current Budget @2:24 3) Identify Your Goals @2:52 4) Create a Goal Budget @3:39 5) Get to Know Your Credit Score @4:36 6) Find a Financial Buddy @5:44 7) Work on Your Emergency Fund @6:17 8) Do a 1 Month Financial Cleanse @7:12 9) Known Your Professional Industry @8:09 10) Set Up an Additional Stream of Income @9:14 11) Get Over Your Fear of Credit Cards @10:05 12) Make Your Bank Accounts Smart @11:01 13) Learn to Speak the Language of Money @11:38 14) Set Up a Retirement Account @12:52 15) Write Out Your 5 Year Strategy @14:06 16) Work on 1 Major Money Hang-Up @14:58 17) Set Up Money Check-Ins @17:23 18) Refresh Your Budget Annually @18:00 19) Create Monthly Spending Challenges @19:16 20) Work with a Professional @20:03

[@SkyBound_Insights]

Thanks

[@n9185]

Thank you!!!

[@timewarptrio11]

thank you!

[@DsRWild]

Thank you! This helps a lot if I want to just see 1 or 2 points.

[@clAssIcAllymINdless]

Thank you!

[@AK-jt9gx]

Seeing Chelsea so happy about getting approved for a fancy card is the highlight of my afternoon... she has come so far and it’s amazing.

[@georgiaperisanidis]

Amelia Kalagher isn’t she gorgeous!

[@thefinancialdiet]

IT'S AMAZING!!!

[@airaira4639]

Chelsea: Many of you are just starting out in your adult life.. Me, a 29 year old woman: yup sounds about right

[@ashleywalker8101]

Aira Ira exactly lol

[@pleasantnezumi4909]

Same.

[@ramenchuu]

Yeaaaah. Didn't get those 20s savings in as I should've nor that financial knowledge and responsibility that I have now.

[@allysonfaithrebolanan4022]

Haha ❤️

[@perlarodriguez3676]

We're not alooone

[@addicted2mako]

Playing video games is a fun pastime, but it’s one that’s easy for me to waste a lot of potentially productive time on. One thing I was spending money on is $10.81 to start another one-month Playstation Now subscription. After I let my last one expire, I started feeling a familiar urge to fight off boredom by renewing the subscription and playing games for several hours. This time I went to my bank account, transferred that $10.81 to savings, and pushed myself into a cleaning frenzy. It’s a small thing, but it represented a struggle that I fight against. I still have that extra $10.81 in savings, my apartment is more tidy, and I’m feeling proud of myself for not giving into temptation.

[@noveialmanegorres5327]

I really appreciate the hard work the whole TFD team pours into this advocacy. It is indeed the era of financial literacy, and you all is instrumental to this progress. Thank you!

[@sarahlacorte1364]

If you haven't already, I think you should make a video on financial guilt... I don't know if maybe I am the only one, but I think people sometimes get into a cycle where they know they have bad spending habits, but they are too guilty to face the reality and change their behavior. I definitely know I wasted a lot of money in my early 20's (27 now) and did not make choices that would have put me in a better place now. I am now really overly frugal with my money, but still have a lot of guilt / self loathing around my past habits.

[@libraryminnie7674]

Sarah LaCorte Yes! So many people get hit with this, especially if your debt journey was on the long side. It is so natural, like having a half gallon of ice cream in your freezer after a long successful diet and literally being scared to have it there even though you know you can eat it in moderation. It is hard to give yourself permission to eat it guilt free.

[@shannon_d_r]

Forgive yourself

[@vanessabirrueta6972]

When I started budgeting I had the same feeling, and I’ve helped a few other people do/update their budgets and the way I’ve always been able to bring myself and others to do it is by convincing myself now that it’s better to face everything head on now than have a bigger problem down the line. This is the one way I’m able to actually get myself to sit down and revisit a budget often. After you’ve done that a few times, it gets easier to face these issues and helps you get control over your future/current soending

[@JaselOrtiz]

You mentioned that you've disputed dings on your credit score. You should do a video on how to do that!

[@sagejackson1072]

NO GIMMICKS: I raised my credit score via Self App, my credit score went up 133 points from April 2020 to now July 2020. I pay $48 a month towards a personal loan of $500 at the end of that payout I GET THE MONEY BACK! Yes, you get you money back AND raise your credit score I’m 22 years old with my first child on the way and I love my Self App! You can even pay as little as $24 a month (: Down below is a link so you can earn $10 towards your first payment. And they offer a credit card after your first 3 payments! self.inc/refer/17722731

[@neverdeadjustasleep7]

Literally just call your bank and/or the credit bureau. It's not rocket science.

[@antonea808]

Thank you. I literally teared up hearing that it wasn’t my fault for the massive student loan debt I began to take on at 18. For a long time my minimum payments were so high (private and federal loans) and pay so crappy I could see no way out. I’m digging myself out now and I’m not ashamed to talk about it. But for a long time I was really stuck and in a dark place because I couldn’t see a way out. I’m much better now but I’m sad for that girl and anyone else in that position. Thank you for always talking about it. The dialogue needs to continue if we’re ever going to stop the madness.

[@StefanieOConnell]

I love how you mention that even if you are in you 30's or 40's, you can start this now- it's not too late!

[@justjaynanne13]

TFD is the goat. I have been watching their videos since I was a freshmen in college and tomorrow I start my first day at my girl girl job as a recent graduate. I have loved learning from Chelsea and the TDF team. Thank you for all your honesty and guidance!! Adulthood here I come!!

[@tallicedlatte]

Please please make a video series on financial literacy for high school students just starting out with their first jobs! There's a lot of vocabulary and skills to learn around money that teenagers could learn!

[@CC-kk8yh]

I'm part of a 30-something couple and I truly appreciate every video from TFD. As an older Millennial who hay never had money to spare and is now married to someone makes a comfortable living but has never acknowledge his budget, it's been helpful for me to start strategizing our shared household income and expenses. Can you a video on newlyweds/couples combined budgeting? There are so many ways to do it that it's a bit overwhelming to choose one way over another and to be able to discuss the pros and cons of each possible budgeting strategy for dual or single income couples.

[@cherrytung]

*I just like seeing Chelsea on this channel...*

[@lorigrace5549]

yes

[@missannebaron]

Same

[@thestylebrain7144]

Same stopped watching the others

[@mikek545]

I like seeing your bold fonts

[@cherrytung]

@@mikek545 lolll hahah thanks

[@6lu5ky86]

My credit score took a while to improve but it's in the 800s now. I don't have any outstanding credit, vehicle, or medical debt. I've also managed to save three grand in savings over the last six months.

[@astgoddess]

Christopher Merritt Welcome to the 800 club! It's a good feeling, isn't it? 😁

[@6lu5ky86]

@@astgoddess It gives me a warm fuzzy feeling haha. As long as I can afford to pay it down, I can have anything I want. Though more often than not I'm comfortable with saying no to impulsive spending. That too feels incredible, to be able to walk away without buyers remorse.

[@daejonmoody3304]

Right on!!! ✊🏾

[@jazcaddell2443]

I got all the way up to 785 right before my wedding and had to put some travel on my card. 🙃🙃🙃 Hopefully I can get back up before Christmas since my utilization is only 28% and I'm lowering it daily.

[@6lu5ky86]

@@jazcaddell2443 I let my utilization drop a bit on a few cards plus I had two inquiries to finance a new computer. In the end I'm at 776 and I'm working on my utilization and scheduling payments. Like my grandmother told me, life is a game, use the other guys game piece. Basically the other guys money lol.

[@laurenconrad1799]

Congrats on that big credit card achievement! I’m obsessive about doing things on time in life, which helped my credit to begin with, but this channel certainly helped me to know how to make it better and how to use credit utilization and points to my advantage.

[@samaria__]

Can we get this channel to a million subscribers already???

[@leila_de_hautjardin]

People prefer watching lolcats instead of trying to improve their finances 😥

[@completehere]

I don’t usually comment on videos, but I just had to do it this time. This is for real one of the best financial content online. Thank you for talking about money in a way that is realistic and that promotes change, not only for the individual but also for society. I’m from Brazil and not all the videos apply for me, but I love to hear you talk about money. I hope you can reach more people, the message you are promoting needs to be heard. Thank you Chelsea and TFD team 💜

[@katefromouttaspace378]

OMG yes - I was pushed into studying when I wasn't ready. And to take a job I didn't want, which I later found out was illegally underpaying me. But I felt the guilt on my shoulders all the way through when these things left me struggling. I should have trusted my internal compass and instinct. But I allowed myself to be working-class guilted. Only recovering from these setbacks in the last few years. Your channel has helped so much! Thanks for helping us all to think and to heal from the burdens of the past. Now we can see the possibilities of the future and can take charge. I'm actually hopeful again and looking forward to success in finding financial liberation.

[@Jibblymamma08]

I want to thank you. This video and a sink fund video are what made me decide to try to start a separate savings for an emergency fund. I started it at the beginning of the year because i knew that i struggle financially towards the winter/fall because of the nature of my work. I was only able to save up about 400 dollars, but its been a HUGE help rn. I havent needed to touch my actual savings acc. And using my emergency fund for stuff like gas and groceries.

[@nickkeyp]

Love this I’m trying to pay off my credit card rn which is $700 and once I pay that off I’m going to build my emergency fund!

[@knittingarch]

I'm 40, and I needed to hear #16. I live in NY and I'm able to live alone but not save much while I know folks who own houses or condos etc. Yesterday I decided to focus on me and improving my situation which is why I'm watching this now. Thank you 🙌🏿

[@Quemiibo]

I’m sure this video was a ton more work, but I really enjoy and appreciate listening to this while at work. Thank you plus I’m re-motivated to keep my financial stability intact!

[@Lavida-melody]

This video is my favorite TFD video! Keep up the amazing work

[@TheBemused]

This was a pretty good checklist! As a CPA and CFP candidate, I appreciated your description of the two in item #20! -Akeiva

[@Nerdfighter21]

1:37 - number 1, analyze your purchases 2:22 - number 2, create a current budget 2:50 - number 3, identify your goals 3:38 - number 4, create a goal budget 4:35 - number 5, get to know your credit score 5:52 - number 6, find a financial buddy 6:16 - number 7, start working on an emergency fund 7:12 - number 8, do a one month financial cleanse 8:08 - number 9, know your professional industry 9:11 - number 10, set up an additional stream of income 10:03 - number 11, get over your fear of credit cards 11:00 - number 12, make your bank account smart 11:36 - number 13, learn to speak the language of money 12:49 - number 14, set up (at least one) retirement account 14:03 - number 15, write your strategy 14:56 - number 16, work on one major money hang up 17:20 - number 17, set up money check-ins 17:58 - number 18, refresh your budget annually 19:15 - number 19, create monthly spending challenges 20:00 - number 20, work with a professional

[@josephvolgyi3382]

I really enjoy your voice, your tone, your intelligent grammar. I like listening to you. I get what you are saying. You make it very easy to understand your points of view. I have learned a lot from you. Thank you so much.

[@fluteplayervictoria4100]

Your channel has helped me become financially independent. 💕 love your channel

[@alexandrakershner4463]

Side note, many millennials are heading out of their twenties and gen z’ers are heading in, just thought I’d mention, love the channel!

[@andreamoore7035]

As a Gen-X person, I have a different experience than the target audience, and still find this advice valuable. I have two adult children living at home and going to, or readying-to-go to college and use a lot of this advice to help ready them for independence.

[@mikeg9b]

Yes. I turn 50 this summer, so I'm an old Gen-Xer and I like this channel to reinforce good attitudes towards money. I think it's the best channel of its kind on KZbin.

[@andreamoore7035]

Michael, I agree on the reinforcement, so much. Funnily enough, I find it hard to relate to the term Gen-X. The first time I heard it was when the movie, Reality Bites, was out. Those actors and characters were older than I was, and I couldn't exactly relate to their problems. Now I realize I was just a younger one lumped in a 'range'. My mother is a Boomer; so is my husband. At endpoints of the range. That gave me perspective. My mom has some Gen-X behaviors and beliefs; my husband and I both have values closer to millenials than our respective "generations". I frequently get annoyed at people of any generation who generalize (negatively) about other generations. I guess I just don't like hearing anyone put down for how their experiences and circumstances shape their values and choices. My younger child is more like my grandmother, who was four when the Great Depression struck. That kid is frugal, and furiously writing scholarship applications in fear of college debt. If the cycle is repeating, I have hope successive generations will learn each time.

[@mikeg9b]

@@andreamoore7035 I was in the U.S. Army from 1996 to 2016. I would guess the median age in the Army is 25 to 35, so I started out being average and ended up being "old." So, I'm more used to being around 20 to 30-year-olds than any other age group. After I retired, I started working on another degree, so I was still around 20-year-olds. I admire them. They're smart, hopeful for the future, and will make our country better.

[@alyssac9280]

Thank you for making my day a million times better and for keeping me on track. I find it hard to stay motivated and I feel like giving up, but your videos remind me that the results of discipline are well worth it 😊

[@lucindaevert2739]

Thank you so much for this video. Can not tell you how much this meant to me and how much I've learned. Keep up the good work!

[@user-li2vl4yd1x]

Great reflections, Chelsea. True, a lot of things haven't changed and they aren't going to either!!!! A great motto is 'Make the most of what you've got and where you are'!!! It alters everything.

[@princessdyn]

I love your channel and support your growth with collab with other vloggers. I really love the lifestyle fix for example. This contribute to the variety of your channel, which is difficult to achieve given the high number of vids per week! Keep them coming!

[@BolanleJenny]

Thanks! This really helps, because I've been trying to figure out where to really start good money habits.

[@LaynaCastro]

The "No shame" part is so simple but so important, being ashamed is not going to help, you're SOOOOOOOOOOOOO right!

[@katfangtastic1420]

I'm only just starting to watch the video, but FYI the thumbnail says UTLIMATE, not ultimate. The typo's funny cause it's even underlined for emphasis :D. Ok, back to the video - I'm sure it's great, Chelsea's wonderful.

[@marynbooks0622]

I will have to rewatch this video like 4 times this year!

[@marabookstagram]

Great tips! However, I wish I could afford to use 20% on wants! My fixed expenses are really high because I have two young children in daycare and private preschool.

[@Pat097]

Thank-you for the comprehensive list Chelsea! 💖 💵 👍🏼🙂 I’m 21 and this is so helpful in helping me figure out my financial situation. And in helping me try to figure out what big picture items I want in life, roughly how much it’s going to cost so I can plan for it.

[@jj-qr4ro]

Love this video so much! I’ve also really been enjoying the tfd Instagram... it reminds me to stay on track and is really motivating :)

[@alexg3348]

Great video. Very common sense and great way to also look ahead and make plans. Another great video by TFD!

[@looking4leasuretime]

Such a great reminder. Thankyou

[@MassEffectFan113]

More Chelsea please! Looking ravishing as always! Thank you for the tips!

[@LifeOfKells]

Im going to start out 2020 with the 1 month financial budget cleanse. Thanks for the great video!

[@angm76]

Love this channel, thanks for everything you guys do

[@Harzeezreport]

yeah i learned about zero budgeting (the term mainly) from mama's got a budget and i do my budget while listening to e. michelle and shay budgets. i make my financial plans while listening to dave ramsey, his and her money and afrobeats

[@ThineIceQueen]

Can you post a version of this checklist that we can print?? :D

[@k700i]

I love your channel! Thank you so much for the amazing tips 💞💖

[@mercyfae17]

I ended up using 65/5/30, and it’s been working well.

[@loafuscrumbwell3315]

Great Video really appreciate the personal anecdotes. They were very reassuring.

[@missymouni]

Apart from the content which needs no introduction, just looking at Chelsea so dapper and professional is so nice! I wish I had your dressing sense, Chels! 😍

[@SunnyDaysRComing]

I haven't heard of the goal budget before! That's so interesting!!

[@TaraWagner]

I love the checklist! Especially #20, because unless we want to devote massive amounts of time to learning all the ins and outs, it just makes sense to find a trustworthy advisor. But definitely know enough that you can't get screwed by them too. It's a fine line between knowing too much and not enough. 😂

[@bestblessing4330]

The way you talk really works for me. Thank you.

[@Ally-ug3nq]

Such a great, raw and real video!!!

[@Gypsy415]

I realize you're targeting 20 somethings but these are good advice, and practical, for any age. If I had this type of info at your age I might be in better financial shape now and likely would have avoided some painful $$ lessons. I worked in Compensation Strategy/Design for over 20 years and still lost everything twice.

[@BudgetsWithELMA]

Loving this list ❤ Great video 😊

[@angelrosales8792]

Yay new video! Great points as always. 😄👍

[@vijo461]

I love that what you said about 1/2 of the people in Manhattan.....So true

[@ashlerenee420]

I usually don’t comment but this list was pretty awesome 👏🏾 great advice!

[@devlinfae]

Coming back to this video after slowly starting to get better with money again.

[@chloelim8431]

These are great tips! I wish I learns this when I was younger.

[@stephaniequiroz9426]

Very useful!! Thank you!

[@jensohma7787]

This is a really helpful and fantastic video! Thank you for sharing all your knowledge and simplifying it for your audience!

[@CulinaryGuide]

I love this video!!!!! I took (written) notes.

[@sami_tibbs]

This was a great video!!

[@fnitupwitherickafncutlass6982]

This is an amazing video!!!

[@cherkkiable]

great video! thanks 😊

[@NoraTKD]

Great video Chelsea, very insightful! Good job getting approved for a new card! :)

[@shipwrecker37]

This video was awesome. I'm impressed.

[@LiveDangerously77]

you are my new favorite youtube channel lol.

[@mikeg9b]

4:41 OMG Chelsea, you're so cute. hahaha! That's why I love this channel. And the good advice too.

[@nativekesh]

New here- I’m loving your videos! Binge worthy and relatable. Just subscribed ❤ btw, the book Get Good With Money, by Tiffany Aliche, is my favorite personal finance book, highly recommend

[@lucietan5990]

Your story and your advice about how to get the best use of our money are really inspiring ! I'm in my 20s and that's a good checklist to look at when I manage my money even thought I'm still a student and don't have a lot of income. I'm using an app My Wallet on iOS (its free) to note every single purchase. It comes with a calendar and categories, it's not link to my bank so I'm sure it's safer that other apps! I'm just a little sad about on point of the video : I'm French and I know that you are speaking to Americans but some advices are confusing or are not reflecting a part of my life. For instance, there is not a credit card culture here. Anyway, thanks for the video and I cannot wait the next one :)

[@VickiPzxc]

Hi, Chelsea! Love your videos and seeing women who are empowered to talk about money. 🤗 Do you have a video on how to do a financial cleanse? I checked the description box, but didn’t see anything on the topic I

[@miseconor644]

First Item on the Checklist: Proof read the title photo for the video.

[@cherymarykids8775]

Love you Chelsea..good to see you here.

[@lorigrace5549]

agreed. the other chick is a snob😐

[@serena6477]

Very helpful Chelsea!!

[@magicbymelanin]

I’m so surprised TFD isn’t over 1 million subs yet.

[@hanaharada]

Thanks for the great listing. Love the way you explain stuffs and help woman out there to learn about controlling their financial life in the most human way possible. I'm interested in the way how you solve your debt issue long time ago. Is there any video about it?

[@stcrl]

Thank you! 👏🏻

[@sammierose1150]

I have to say, I like this passionate side of Chelsea 🤗

[@modernadulting6857]

As you use your credit card and pay your debts you will demonstrate your trustworthiness. In turn they will be willing to lend you more, at lower interest rates

[@LiveDangerously77]

Thank you so much

[@leejay2418]

Congrats on your credit score. It sounds like you have worked really hard.

[@user-ih3qy2mg5v]

Can you please do a video on how to stay budgeted as an intern?

[@DavidLopez-qi2zi]

This girl is spittin’ straight BARS

[@gabyflores9412]

It never occured to me to have 2 banks for separate accounts! That's been my main weakness in my savings *edit: I always feel so empowered whenever I watch these videos

[@markscheepers977]

Chelsea thank you for your work but please know I'm 42 in South Africa and single and all of this still apply to me.

[@myleonisd]

Hi, could you please turn on the auto-generated subtitles? It would be very useful to me, thanks!

[@KimberlyGraceArcher]

Anyone else want a video on independent contractors? It's hard because you have to do everything yourself, and I can't find any good overviews on KZbin. Things like taxes, laws, overtime, healthcare choices, etc. It's all so different for independent contractors and so frequently you mention things that I'm 99% sure don't actually apply to independent contractors. But anyway, thanks for this video and all the rest, you guys are great! (:

[@thecreativestylist]

hello- new subscriber from Greece- i am not starting now nor i am in my 20's but i wanna learn more...!

[@carolyngarcia2033]

I love this!!!

[@evelynfranca4992]

Omg Chelsea is so electric in this video, I checked if I had accelerated the speed

[@Ellie-vc5ow]

I makes about $150 at my regular job a week, I earned $110 in the same week by my side jobs. Busy week but it was nice to see the bank account number rise.

[@ticsxlol8155]

you really know what you are talking about. hehehe good thing you talk pleasantly and pleasing to look at. will do the things being talked in the channel. thank you :)

[@dindranew.6808]

I need one of those for being good with money in my late 40s...

[@chrysafinE97]

i'm sure someone has pointed this out already but just in case, the thumbnail has a typo, it says utlimate instead of ultimate. love this video nevertheless

[@georgehowelliii5666]

Great video