5 Things You NEED To Do Before College

All about the things you NEED to be doing before you enter college - or if you're a young adult (18-25) and haven't done this yet - this video is for YOU. These are my best tips for personal finance and starting College or being a young adult.

1. Open a Bank Account
- Try to pick a bank account that has branches near campus
- Low ATM fees or none
- Student accounts are popular, if you're under the age of 18 you may have a joint account with your parent or legal guardian
- This will help you manage your own money, and have a sense of ownership about the account, and allows you to hopefully get a secured credit card

2. Get a secured Credit Card
- Credit is just how likely you are to pay a loan or bill back to a lender, the higher it is, the more benefits ther eare in the long run
- A secured credit card allows you to get a credit card in exchange for collateral
- You'll use it for 6 months, spend some money, and always pay it in full

3. Make A Budget
- Making a budget is pretty easy once you know what you spend money on
- I encourage you to track some of your expenses, or at least plan for some of the expenses you might get in college, if you want to join a frat/sorority, supplies, textbooks, eating out, etc.

4. Start an investment account if you can and regularly commit to saving and investing. I like to use Robinhood or Vanguard.
- Some popular free online brokers include Robinhood, Etrade, Fidelity, Charles Schwab, TD Ameritrade
- Investing strategies are dependent and suited to the person. Depending on your risk level and your goals
- But one thing is for certain, if you regularly contribute to your savings and investments account, over time with the power of compound interest you will be financially stable!

5. Research Side Jobs or Jobs you can do while in College
- Start by looking at your university town on craigslist, or by navigating your school's website for on-campus jobs
- The most important thing here is to build skills for the long run, and to try a variety of things
- Trying things helps you gain more exposure to different tasks and you can figure out what you like to do in the long run
- College is all about experimentation and trying to see what you naturally gravitate to!

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Disclaimer: I am not a financial advisor, any investment commentary are my opinions only.

[humphrey]

Hey guys! Let me know what other types of videos you’d like to see in the comments!

[harshpatel_]

Can you please do more videos on how to invest in stock and real estate in depth? Thanks in advance.

[hattgeorge]

Great content, man! Can you do a video (or just put up a list somewhere) about what kind of literature on finances you read that may be not as well known as for example “rich dad, poor dad”, but is worthy attention. Or just generally what do you read. Cheers!

[meliiit]

This video was so helpful, thank you !

[clair]

Thanks for the info! Can we get more info on investments like the S&P 500, Target Date funds, ETFS, the difference between them, services and how much to start with?

[anar]

This is great advice and important information! I am currently a college student and I was wondering if you could make a video discussing student loans? Possibly things to pay attention to while searching for best bank or credit union to apply for them? I would really appreciate it!