Today i'm going to be giving you the BEST Investing Advice for Teenagers and Beginners such as opening a credit card, learning how to save money, learning how to invest, making life decisions etc.
Learn the best way to save for you - 00:00 - 02:48
A lot of people behave very differently when they start earning money. Some people find it very easy to save but some people really struggle and cant help themselves with spending. Its best to consider whether you really need something before you buy it. Maybe open a separate bank account which is harder to access to help you with saving money.
Its also best not to increase your expenditure just for the sake of it. Focus on saving more when you get a pay-rise.
Learn the basics to invest for the long term - 02:48 - 03:53
Invest sensibly in more secure products such as ETF's or large cap stocks and invest for the long term (with a 5-10 year intention in mind). Focus on large cap stocks which consistently generate billions in profit such as Apple or Coca Cola or American Express. I would definitely advise doing some research into different stock trading platforms and find which one works best for you.
Get a credit card and improve your credit score - 03:53 - 05:32
Credit cards are great when used correctly. Having a high credit score means a bank will lend you more money for a mortgage or a loan and the bank will even give you a lower interest rate. Credit cards are also great for getting you out of sticky situations such as a car breakdown if you don't have enough cash in your account.
Stay out of expensive debt - 05:32 - 07:06
Some debt like low interest rate mortgage debt or a low interest rate business loan are both very good and cheap debt. Some debt like high interest rate credit cards or pay-day loans are terrible expensive debt. Avoid expensive debt as you might have to re-pay many times over what you borrowed.
I did say that credit cards are great, and they can be when used correctly. If you pay off your credit card on time then you will incur £0 interest. Whereas if you miss or forget payments you will start incurring interest at a rapid rate. So don't forget to pay off your credit card!
Plan your future - 07:06 - 08:35
Its really important to make the correct decision whether to go to university or to get a job/apprenticeship. Some jobs absolutely require you to go to university such as teaching/scientists/doctors/vets etc. But, some jobs gain zero benefit/advantage from going to uni, such as accounting. As such, make the decision which is best for you. Finance is a big consideration when deciding on university due to the very high uni debt levels in the UK. However, there are also other things to consider (like fun!)
Consider starting a business when you have little risk - 08:35 - 10:00
When you're 18 you probably don't have a family to care for, such as a wife that doesn't work and 3 kids to feed and clothe. You probably also don't have a large mortgage and 2 cars to pay for. Therefore, you can start a business, try it for a few months, and if it doesn't work, so what? you might lose a few hundred/thousand and you can try again. But if you make big, un-calculated risks later in life it can have significant consequences.
Have Fun! - 10:00 - 10:39
Social media
Instagram - ThomasJamesYT - https://instagram.com/thomasjamesyt
TikTok - ThomasJamesYT - https://tiktok.com/ @thomasjamesyt
Subscribe for more property related content - https://youtube.com/channel/UCRTndpz_fpcVcoVe0QF1IgA
The information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Thomas MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Thomas' videos. If you need such advice, please contact a qualified accountant, solicitor, insurance agent, contractor/electrician/engineer/etc. or financial advisor.
This is not an advertisement of property for sale and shall not be construed as anything other than an opinion for entertainment purposes only.
Inspired by Graham Stephan, Meet Kevin, Shaf Rasul, Andrei Jikh, Nate O'Brien, The Credit Shifu and more
#InvestingAdvice #InvestingForBeginners #InvestingForTeenagers
Learn the best way to save for you - 00:00 - 02:48
A lot of people behave very differently when they start earning money. Some people find it very easy to save but some people really struggle and cant help themselves with spending. Its best to consider whether you really need something before you buy it. Maybe open a separate bank account which is harder to access to help you with saving money.
Its also best not to increase your expenditure just for the sake of it. Focus on saving more when you get a pay-rise.
Learn the basics to invest for the long term - 02:48 - 03:53
Invest sensibly in more secure products such as ETF's or large cap stocks and invest for the long term (with a 5-10 year intention in mind). Focus on large cap stocks which consistently generate billions in profit such as Apple or Coca Cola or American Express. I would definitely advise doing some research into different stock trading platforms and find which one works best for you.
Get a credit card and improve your credit score - 03:53 - 05:32
Credit cards are great when used correctly. Having a high credit score means a bank will lend you more money for a mortgage or a loan and the bank will even give you a lower interest rate. Credit cards are also great for getting you out of sticky situations such as a car breakdown if you don't have enough cash in your account.
Stay out of expensive debt - 05:32 - 07:06
Some debt like low interest rate mortgage debt or a low interest rate business loan are both very good and cheap debt. Some debt like high interest rate credit cards or pay-day loans are terrible expensive debt. Avoid expensive debt as you might have to re-pay many times over what you borrowed.
I did say that credit cards are great, and they can be when used correctly. If you pay off your credit card on time then you will incur £0 interest. Whereas if you miss or forget payments you will start incurring interest at a rapid rate. So don't forget to pay off your credit card!
Plan your future - 07:06 - 08:35
Its really important to make the correct decision whether to go to university or to get a job/apprenticeship. Some jobs absolutely require you to go to university such as teaching/scientists/doctors/vets etc. But, some jobs gain zero benefit/advantage from going to uni, such as accounting. As such, make the decision which is best for you. Finance is a big consideration when deciding on university due to the very high uni debt levels in the UK. However, there are also other things to consider (like fun!)
Consider starting a business when you have little risk - 08:35 - 10:00
When you're 18 you probably don't have a family to care for, such as a wife that doesn't work and 3 kids to feed and clothe. You probably also don't have a large mortgage and 2 cars to pay for. Therefore, you can start a business, try it for a few months, and if it doesn't work, so what? you might lose a few hundred/thousand and you can try again. But if you make big, un-calculated risks later in life it can have significant consequences.
Have Fun! - 10:00 - 10:39
Social media
Instagram - ThomasJamesYT - https://instagram.com/thomasjamesyt
TikTok - ThomasJamesYT - https://tiktok.com/ @thomasjamesyt
Subscribe for more property related content - https://youtube.com/channel/UCRTndpz_fpcVcoVe0QF1IgA
The information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Thomas MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Thomas' videos. If you need such advice, please contact a qualified accountant, solicitor, insurance agent, contractor/electrician/engineer/etc. or financial advisor.
This is not an advertisement of property for sale and shall not be construed as anything other than an opinion for entertainment purposes only.
Inspired by Graham Stephan, Meet Kevin, Shaf Rasul, Andrei Jikh, Nate O'Brien, The Credit Shifu and more
#InvestingAdvice #InvestingForBeginners #InvestingForTeenagers
All solid advice. I always wonder if the majority of UK people always had this MO of making it then spending it. Talking to my parent's generation they seem to have a saving mentality.
Massively helpful video, thank you! I’ve been waiting a while😅 I love all the little things you’ve added in the editing, it really just finishes the video off. I will take you’re advice and let you know how it all goes!
Excellent vid. I put aside 10% of my pay each month into savings and another 10% into an investment pot. Seems to be working well for me. Really looking forward to the coming stock investment videos! Also, the last tip to have fun is really important to remember!
Love the uni vs apprenticeship example🤣
My top tips are to have a budget and automate your savings and investments.
Use the technology that you have access to guys and your life will be so much better and you'll have more money.
What are your top tips for investing/saving?