For not being british citizen you have a great understanding of UK financials. Your investment knowledge also spot on, well done with your research and putting this together. 👏
For a 20 something, I'd say the most important investment is in your training, whether it is an apprenticeship, university or a trade. It may not be comfortable to live like a student for a few more years, but you'll easily earn more in later life, as a professional. Savings, bonds and mutual funds are just investment products, similar to different jams and jellies you find in a supermarket. Someone else is using your money to build a business or increase their skills, and paying you a return. They are good and useful -- especially for tax savings -- but you need a salary to fund those things, and you should also think about how much more money you can make with better job qualifications. They earlier you complete your training, or the more relevant work experience you have the more it will pay off, and often far more than any investment product.
For budget I would just add that you should do a spreadsheet that includes monthly cost (rent, phone bill), quarterly (if applicable, for me that's some subscriptions) and annual (insurances mostly). For quarterly and annual you calculate how much money you need to save each month to be able to pay your bills when they come at the end of the quarter/year. That way you don't end up getting a large bill in January that you cannot pay. Might be obvious to some, but wasn't to me.
It’s brilliant to see how young people now are thinking about these things and educate themselves about it. I was raised very traditional, be careful with money and save. Now there is nothing wrong with that obviously. But I was never thought about investing and diversifying savings, I was raised with the idea that it’s to risky. Where did this idea come from? My great-grandfather who lost a lot of money during the Great Depression (the crash in 1929!), that fear was passed on from generation to generation. Now for my grandparents this very careful approach was fine, savings had high profits. (And loans were very high, much higher than now). Only when I reached my 30s did I start learning and understanding about different kinds of investment and how much risk in involved in each. Guys, believe me, if you are in year early 20, save traditionally, but invest, leave it there, older you will be delighted.
Hi thanks for making this helpful videos, I really love your videos and I'm trying to get my kids to watch them too. It's so inspiring ❤ I don't know who needs to hear this saving for a better investment is a great step to financial freedom. You're saving a day off work
There are numerous investment alternatives available, including real estate, equities, cryptocurrency, and exchange-traded funds (ETFs), but my best recommendation is to hire a professional to guide you through the process and help you make sound financial decisions
Investing should be prioritized by everyone as a means of achieving financial independence. Investing is an excellent one; I felt the heavens the first time I got my investment dividends 😁...been on it ever since
I’ve been trying to get it together financially and have binged your Tiktok videos. Just discovered you have a YT channel too so I’m excited to eat up all the long form content 😍
When you keep saying mortgage, I think what you really mean to say is a deposit , a deposit for a house. In other words, downpayment The mortgage is the amount you pay monthly.
Thank you so much for this video! It might be not much for some, but it’s really helpful as someone who’s a young adult. Btw, if its not much Macerly, for the future there would be english subs? Just so we’re able to write along your tips? ❤
honestly? being pretty miserable. you prioritise small saving over pleasure, so that 20% she speaks about is actually taken from the 30 she says you need to destine for pleasure. at least that's what I had to do for a long while. it sucked.
What is the savings or budgeting software that you us? You show it on one of your shorts moving money into your mortgage savings and Latin America trip fund. Thanks!
One of the best things I did was getting a credit card when I arrived in London, after three years here I was able to book a business flight for free back home to Australia which would normally be like £5k! Only wish my credit score transferred home 😭
@@paintspot1509 that’s true, it’s more so her financial budgeting and planning that’s inspiring tbh. bc if i had the money she had i wouldn’t know what to do with it 😂
I often use credit cards and pay balance every month to get cash back or airline points. For me I prefer cash back as it really adds up. Also, I wouldn't put money in the stock market even index funds. Its going be really bad for the economy and stock market..sorry for the bad news
Financial advisor here, you can definitely put money in the stock market. You never want to time the market, it’s always time IN the market. If you have a long term target, ETFs with buffered options as well as SMAs will do very well. Some portfolios have income strategies that beat out the market and have downside protection for economic situations such as this. Not sure what is offered in the UK but my knowledge of the US market is that the top 7 stocks in the entire S&P are driving the market forward, all tech. If it weren’t for those stocks it would certainly be in the negatives by now.
