Do you need a Credit Card? Are Credit Cards Good or Bad? These questions and more will be answered in the video. Moreover, I will talk about 3 types of individuals depending on their behavior and if they should, or shouldn't use a credit card. With credit card debt reaching the 1 trillion dollar mark (That is trillion, with a T) by the end of 2019, it is very common for people to want to avoid credit cards at all costs. However, let's take an objective approach and look at the pros and cons of a credit card. Ultimately, the goal for everyone should be to become financially responsible in everything related to personal finance, credit cards are no exception. The video is long since it also covers the basics of a credit card, such as the credit card statement and some of its components. Please be aware that debt is one of the major causes for divorce in the United States, second only to infidelity. Being educated in personal finance will not only help your pocket, but also your relationships. Everybody is unique and behaves differently. Nonetheless, proper money management can be learned by anyone. It doesn't matter if you are a high school student, a college student, a young adult recently graduated or are supporting a family. Learning how to properly use a credit card is imperative for your (and your partners) well-being. - Oscar. New videos every Wednesday! 0:00 Context 0:54 Important terms related to Credit Cards 2:58 Benefits of Credit Cards 8:38 Drawbacks of Credit Cards 11:10 The three behavioral groups 13:41 My opinion on 'Do you NEED a Credit Card?' 13:49 Changing the question and Key Takeaway Links Utilization rate information 1. https://www.nerdwallet.com/article/finance/credit-utilization-ratio-high-hurt-score 2. https://www.transunion.com/blog/credit-advice/why-did-my-credit-score-drop A bit of credit card debt information 1. https://www.debt.org/faqs/americans-in-debt/ 2. https://www.cnbc.com/2019/05/17/55-percent-of-americans-have-credit-card-debt.html 3. https://www.cnbc.com/2020/05/04/almost-half-of-america-now-carrying-credit-card-debt-and-more-of-it.html I am not a Certified Financial Planner. The content explained is based on my life experience and should not be taken as professional advice.

One of the first things that beginners should understand when starting to invest is the 'Rule of 72'. It is proof that simple math and patience is sufficient to plan for long term financial goals, most importantly, your retirement. Additionally, it can help you make better decisions sooner rather than later. This is based on the foundation of compound interest and the effects of time over money. This video is not only meant for beginners, but for those who have never heard the term 'Rule of 72', even though they are most likely applying it. Here I will try to explain four (4) topics: The components of an investment, simple interest vs compound interest, two examples to understand easier and finally, the Rule of 72. If this sounds interesting, please consider subscribing for more weekly content regarding personal finance. - Oscar Recommended Videos: 1. Emergency Fund: Start here. https://www.youtube.com/watch?v=Nz8sXb0-mYM 2. New to investing? Start here: https://www.youtube.com/watch?v=UNvDMDRXV2Y Timestamps: 0:00 Topics, Structure and Components of an investment 3:31 Simple interest vs Compound interest, Example #1 6:28 Simple interest vs Compound interest, Example #2 10:01 Rule of 72 and Key Takeaway I am not a Certified Financial Planner. The content explained is based on my life experience and should not be taken as professional advice.

Black Friday has been the busiest shopping day in the US since 2005. It can be tempting to overspend under the excuse of 'getting a deal'. However, if you take a moment to understand the behavior of the consumer and how it can be manipulated, you can have a clear head when Black Friday comes and avoid spending more than you intended to, ultimately leading you to save money. In this video I explain 3 things you should do, and 3 things you shouldn't do in Black Friday / Cyber Monday. If this sounds interesting, please consider subscribing for more weekly content regarding personal finance. - Oscar Price Tracker (CamelCamelCamel) link: https://camelcamelcamel.com Recommended Videos: 1. Emergency Fund: Start here. https://www.youtube.com/watch?v=Nz8sXb0-mYM 2. New to investing? Start here: https://www.youtube.com/watch?v=UNvDMDRXV2Y Timestamps: 0:00 Context - Marketing and Behavioral Finance. 1:19 What you SHOULD do. 3:57 What you SHOULD NOT do and Key Takeway. Shot on iPhone X. I am not a Certified Financial Planner. The content explained is based on my life experience and should not be taken as professional advice.

Where to keep your Emergency Fund should be your first decision after you have started saving for it. In this video I will explain various alternatives of where store your hard earned dollars so that they are readily available when you need them, but also that they don't lose their value over time. - Oscar New videos every Wednesday 0:00 Intro 0:54 Definition - Purchasing Power 1:19 Definition - Inflation 2:01 Definition - APY (Annual Percentage Yield) 2:36 Why are these terms important? 3:16 Alternatives - Where can you save your money? 3:24 Alternative 1 4:12 Alternative 2 4:50 Alternative 3 5:39 Alternative 4 6:34 Alternative 5 7:50 High Yield Savings Account Rates vs Inflation Rates 8:29 KEY TAKEAWAY Links: - Investopedia High Yield Savings Accounts: https://www.investopedia.com/best-high-yield-savings-accounts-4770633 Sources: - Bureau of Labor Statistics Data (Filter by year and include the yearly change column): https://data.bls.gov/pdq/SurveyOutputServlet - Ally Bank High Yield Savings Account: https://www.ally.com/bank/online-savings-account/ - Fitness Bank High Yield Account shown in video: https://www.fitnessbank.fit/goals-and-rates/ - FDIC Deposit Insurance: https://www.fdic.gov/deposit/deposits/faq.html Music Credit: LAKEY INSPIRED Track Name: "Blue Boi" Music By: LAKEY INSPIRED Official SoundCloud https://soundcloud.com/lakeyinspired Official YouTube Channel: https://www.youtube.com/channel/UCOmy8wuTpC95lefU5d1dt2Q License for commercial use: Creative Commons Attribution 3.0 Unported "Share Alike" (CC BY-SA 3.0) https://creativecommons.org/licenses/by-sa/3.0/legalcode Music promoted by: Chill Out Records @ https://goo.gl/fh3rEJ www.ChillOutMedia.com / www.LoFi-HipHop.com DISCLAIMER: I am not a certified financial planner. This is my personal opinion based on my life experience and is not meant to be taken as professional advice.

This is a personal finance video explaining why the general rule for the emergency fund is, in my opinion, flawed. The amount of money that needs to be saved is not as simple as 'N amount of months' as there are many other factors to consider when building a proper emergency fund. In this video I explain why most people are building their emergency fund the wrong way and are not even aware of it. - Oscar. New videos every Wednesday 00:00 Intro 1:10 1 - Define your 'known' emergencies 1:40 - Transportation 2:23 - Medical 2:48 - Assets 3:20 - Living expenses 3:36 - Known unknowns 4:01 - 'Known Emergencies' Recap 5:26 2 - The cost of an emergency depends on your country 7:16 3 - The time of your life 7:47 - Key Takeaway DISCLAIMER: I am not a certified financial planner. This is my personal opinion based on my life experience and is not meant to be taken as professional advice.

This video is meant for beginners who want an introduction to investing. Whether it be for building wealth, saving for retirement, buying a big ticket item such as a home or any other long-term objective a person might have, properly investing is a necessity to be able to achieve these goals. In this video I try to explain investing for the absolute beginner, using a flower garden analogy, comparing building a garden to building wealth. This is more trying to explain the definitions of investing, instead of going into specific topics such as real estate investing or stock market investing. In addition, I go over four (4) prerequisites that should be completed before deciding to start investing. Yes - everybody should start young, everybody's life is different. You might have debt, nothing saved for an emergency, or simply need some guidance and education in what to do. Whatever your case might be, I explain some things you should do before starting to invest. If this sounds interesting, please consider subscribing for more weekly content regarding personal finance. - Oscar Recommended Videos: 1. Emergency Fund: Start here. https://www.youtube.com/watch?v=Nz8sXb0-mYM 2. Do you need a Credit Card: https://www.youtube.com/watch?v=QBfvm_2Maeg Timestamps: 0:00 It takes money to make money 0:44 Investing definition 1:14 Garden flower analogy 5:26 Why invest? 5:50 Investing vs Trading vs Saving 6:58 Before investing checklist and Key Takeaway I am not a Certified Financial Planner. The content explained is based on my life experience and should not be taken as professional advice.