Among the factors I struggled so much with cash in the past is since no one ever really sat down with me to reveal me how to avoid of debt, conserve, invest, and just total be good with cash. Which's why I wanted to do this video.
You can think about me sort of as your buddy or your big sibling, simply sitting down to reveal you all my things so you can get some suggestions for how to much better manage your financial resources!
TIMESTAMPS
00:01:05 – How I budget
00:08:15 – How I save
00:11:55 – How I invest
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*** THINGS DISCUSSED IN THIS VIDEO! ***.
Investing for Novices (your first $1k):.
Backdoor Roth individual retirement account tutorial video:.
HSA discussed:.
Index Funds vs Mutual Funds vs ETFs:.
Life Insurance:.
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*** BOOKS I ADVISE ***.
I Will Teach You to Be Rich (funny how-to book on personal finance for millennials).
The Little Book of Good Sense Investing (Jack Bogle's traditional suggestions on index funds).
InvestED (detailed, millennial-friendly recommendations on how to choose stocks like Warren Buffett).
Unshakeable (this book = nerve. blast ALL the fears & mistaken beliefs you have about investing).
Rich Daddy Poor Daddy (# 1 selling individual financing book of perpetuity … need I state more?).
Think and Grow Rich (the supreme book on money frame of mind and wealth awareness).
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*** MY FAVORITE MONEY TOOLS ***.
YNAB (I actually can't live without this budgeting app, so consumed).
Wise (like Venmo but for global currencies – I utilize this app a LOT for my life in Mexico).
High-Yield Cost Savings Accounts (do not choose 0% when you can get 4%+ on your cost savings).
Ledger Nano S (crypto storage hardware wallet, since "Not Your Keys, Not Your Crypto"!):.
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DISCLAIMERS & DISCLOSURES ❤.
This content is for education and home entertainment purposes only. Rose does not supply tax or investment guidance. The information is existing without factor to consider of the investment goals, danger tolerance, or financial situations of any specific investor and might not be suitable for all financiers. Previous efficiency is not a sign of future results. All investing involves risk, including the possible loss of principal.
This description contains affiliate links that permit you to discover the items discussed in this video and support the channel at no cost to you. Investing With Rose is a participant in the Amazon Providers LLC Associates Program, an affiliate marketing program designed to supply a means for sites to make advertising fees by marketing and linking to www.amazon.com. Thank you for your support!
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Budgets sound like a lot of work. Its good that it helps some people. Thanks for making this video, it is a good community service.
It’s not much work once you have a system in place. I maintain a personal budget roughly as detailed as the one Rose presented. It takes me about 30 minutes once every month. Once you have a system in place, and assuming your savings, investments, and expenditures don’t change drastically month by month, it almost drives itself after a while and it just becomes a matter of fine-tuning.
Rose, I learned a lot on personal finance by watching your videos. Although I am in a totally different financial environment (other side of the world), I am inspired for my next investment moves by following your example. Thank you. Please carry on the series.
Love to hear it <3 and will do!
Hi there! definitely please keep doing net worth updates, budgeting – everyone likes to see the real numbers and how the reality of making goals happen works!
Ahh gotcha! That sounds fun, I will do that!
I think I’ve watched all of your videos and I’ve learned a lot. I read several of the books and am trying to implement some changes. I love your vibe. My biggest problem is that I cannot stomach investing in the SNP500 or another big index fund because that would mean supporting (and profiting from) companies that are, in my opinion, doing harm. I’m an activist and would become a hypocrite if I was investing in companies that are doing the actual thing I’m an actively working against. So do I just cherry pick individual stocks? Did I miss any videos about this dilemma? Would love your perspective.
I understand how you feel and respect you sticking to your principles! I did a video on socially responsible investing a while back: https://youtu.be/3bvm-Afa6Y0 – other than that, you’re right the other option would be to cherry pick individual stocks
Automatic transfers to savings are the way to do it. I never miss the money, and the accumulation always surprises me. I spend less if I think I earn less.
Exactly my point! It’s a sneaky lil money hack lol
I think the monthly videos would be awesome… we could all make eachother accountable in a weird way without even knowing it!
Right that’s what I’m thinking!! Sounds fun, let’s do it!
Love this format with super helpful info. Thank you for sharing Rose!
Hi Rose! Thank you so much for the financial education. You’ve made such a positive impact on my life, you’re like a financially smart, educated, cool big sister. You are an inspiration to me!
Rose, great content and it’s good to see you posting regularly again. After divorce and starting over it was your videos that encouraged me to get started again, opening my accounts at Fidelity and starting my journey over. I wish you the best in everything and would love to see this become a regular content from you. Take care and stay safe.
Another interesting and helpful video. I definitely like the idea of this becoming a monthly series!
All right then monthly series here we comeeeee! 😀
Very informative video! My wife and I have a cash fund in our budget! I take out $200 a month and it’s put in a container. You’re allowed to take $40 a week and use any way you want. If you want to stop by a coffee, candy bar or donuts for the family. When this money is gone, that’s it till the next month. If there’s any money left over stays in the container for the next month. Now this is all for small purchases.
I love that! Very sweet that you and your wife have created your own system that works well for your family 🙂
Hi, Rose. Thank you for putting this type of info. I have learn a lot from you. You are absolutely right. This is the type of information that nobody really teaches you in depth or show you real actual example. Looking forward to more videos. Be well and thanks 😊
Great video Rose! I am now since being retired to help my teenage grandchildren budget, save and invest. This is the perfect video, plus we all have Fidelity accounts.
great work. My husband and I started seriously investing only 15 years ago after we paid off our house. For the last 10 years of those 15, we have put in the max allowed in our 401K’s. having a paid for home allows you to really accelerate your savings rate. The earlier you begin to seriously save in your 401K, the quicker you will be able to live off of dividends.
You should be investing into dividend etfs and dividend growth stocks in a roth IRA as well!
That’s amazing and very inspiring to hear! Thank you for sharing!
Rose, you are one of the best ones on YouTube. Thank you so much for sharing your knowledge and expertise with us.
That means a LOT to me. Thank you!! ♥️
PLEASE continue with the series! Just listening to your thoughts and reasoning behind doing what you do really does help when considering things for my own financial journey. Also, it steers me out of the direction of making extra mistakes that I don’t have to.
I love your channel. I always know im going to learn something when you upload.
I love that, your feedback means a lot to me!!! Will definitely continue this as a series, can’t wait because I think it’s gonna be fun 😀
Having a separate emergency fund is so nice because you dont really see it until you get the statement from the bank and it is great to see the money grow. Yes please to the money diary I think it will be interesting and maybe helpful. Thanks.
Hey Rose. This video is very helpful, and I watched it until the end. I like how you explained each item in simple details for those of us who are not familiar with “finance lingo”. Yes, please create a series bc my daughter and I are here to learn it all. OAN: I LOVE purses; I am a purse girl! Please show us your new Prada when you get it. Thank you! ~Myra
Awesome, love that you loved it and that you’re learning with your daughter! I’ll definitely make this into a series, stay tuned! I may change my mind about the Prada purse as there are some other brands I’m considering too but I’ll keep ya posted 🙂
Thanks for the emails I aprenciate you being vulnerable and so honest about relationships and personal growth. Thanks for helping me invest with your investment videos
Yes please re: making this into a series! Your transparency, thoughtful explanations, and clarity is so helpful for those of us trying to get to where you are. Thank you for your content!