Personal Finance Management For Beginners

For many, personal finance management can seem like a confusing mess. What is my net worth? How do I create a budget? How much do I need to start investing? How do I get rid of debt? But luckily, personal finance isn't nearly as complicated as it may seem. In this video, I give you crucial tips to manage your personal finances and take control of your life!

I’m going to discuss how you need to get organized first by understanding your assets (what you make each month) and liabilities (what you pay each month) and determining your net worth.

Next, I’ll dive into the best approach for paying off your debt and helping you understand the different approaches you can depending on whether you have high interest debt and low interest debt.

Once you know your net worth and have your debt consolidated, I share three investment accounts you need to have.

What I discuss:

1:25 - The 3 phases to getting started
1:50 - Comparing your Assets vs. Liabilities
2:40 - What to do with high interest debt
3:25 - What to do with low interest debt
4:15 - Do you have an emergency fund?
4:45 - 3 types of accounts you need to know about
5:00 - Who should have a 401K?
5:25 - What is a Roth IRA?
6:25 - What is a taxed brokerage account?
6:50 - Recap of everything discussed

Links mentioned:

FREE Budget Tracker:
Net worth Tracker:
Debt Payoff Tracker:
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