💵 Guide to SAVINGS for BEGINNERS (what, why, how) | Finance from Scratch 💰

Welcome back to an episode of Finance from Scratch — where we learn finance concepts, from scratch. In this video, we'll be talking all about SAVINGS.

Saving is one of the PILLARS in personal finance. It’s a pretty basic concept that some people struggle with, but it’s important to master this skill to help you manage your money and set you up for financial success. We’ll be talking about a lot of things: First, we’ll define WHAT savings is, then we’ll talk about WHY we need to do it, then we’ll talk about HOW you can start saving, as well as some tips and systems to help you reach your savings goals!

This is Finance from Scratch: a new series where we'll talk and learn about finance concepts from scratch! Guaranteed — Beginner bobo friendly 👌✨

We’ll cover the stuff I talked about more in-depth in future videos. Share your thoughts, comments, and feedback in the comments section!! What do you think of this new series? What other topics do you want me to cover?

If you want to work with me, help me, or collaborate with me in making this series the best it can be, reach out to me through email! I'd love to explore potential ways we can work together 🍞

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Note: The section above contains affiliate codes/links, which means I may get a reward when you use them. Don't worry, there's no additional cost to you, but these help support the channel. So, thanks in advance 💙

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🕰TIMESTAMPS
00:00 Introduction
00:49 Video Outline (what, why, how)
01:57 Important Disclaimers
02:21 WHAT is saving?
02:46 Important Investing Concepts: Savings vs. Investing
05:12 Important Investing Concepts: Savings Rate
07:19 Important Investing Concepts: Reduce Expenses & Increase Income
08:11 WHY do we save: Lessen financial stress & anxiety
08:46 WHY do we save: To plan for short-term & long-term goals
09:14 WHY do we save: Financial Freedom
09:34 WHY do we save: Savings are financial building blocks
09:57 HOW do we start saving: When and Where
09:57 HOW do we start saving: Regular vs. High-Interest Savings Account
09:57 WHERE do we save: GoTyme
12:19 HOW do we start saving: Actionable Steps
14:55 What do you think of this series? Comment thoughts & future topic requests!

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🤝 Where to find me

🚀 Subcount: 443,488

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Guide to SAVINGS for BEGINNERS (what, why, how) | Finance from Scratch 💰

Finance from Scratch / Learn Personal Finance for Beginners / Personal Finance Philippines / How to Personal Finance / Step-by-Step Personal Finance / Financial Literacy / Financial Education / Financial Education / Easy Guide to Personal Finance / How to Save Money / Savings Account Philippines / Filipino Guide to Savings 101 / Personal Finance 101

FTC: This video is sponsored by GoTyme Bank

Disclaimer: This video is NOT financial advice. Form your own opinions so that you can properly decide on what to do with the information you learn from this video.

[NicoleAlbaYT]

⚠ WARNING: Be careful of FAKE ACCOUNTS and SCAMMERS pretending to be me on Facebook, Instagram, Tiktok, and other social media platforms.

I will NEVER message you about any trading or investment opportunity. I do not have any backup accounts. Be careful of SCAMMERS who have been stealing my photos pretending to be me. These are the links to my OFFICIAL social media platforms:


Hi guys! It’s been 2 months since my last upload. Life has been busy 😅 I’m super excited about this episode because SAVINGS is an important pillar in personal finance. I hope that this video helps you guys better understand what savings is, reasons why we save, and how you can start saving. Hope you guys learn something new! See you guys in the next video 👋

What do you think of this new series? What other topics do you want me to cover? Share your thoughts, comments, and feedback in the comments section!!

💙 Thank you to GoTyme for their support in working with me which made this video possible.

[jm]

It's so hard to even think about saving much more investing when you're just surviving.😭

[angeltaloyo]

I automate my savings. I learned to pay myself first and consider savings as an expense. I tell my friends and family there's three types of savings; save for an emergency, save for what you want, and to save to invest. I also teach my family and friends the virtues of compound interest and what is an asset and a liability. I made mistakes with my investments, I thought I was secure, then I realized I wasn't. I ramped up my investment and savings. I also took advise from Dave Ramsey about having a financial advisor to manage my portfolios; I never looked back. My savings rate at the moment is at 32 percent and reaching 35 percent since I put away money that's left over for the day, week, or month is left from budget.

[isoclouds]

Right on time! needed this guide thanks

[mariamaria-ekdt]

Hi Nicole, it's been awhile and i felt like i was being derailed from a motivated good financial decision maker into "don't know where i'm at now after a year" and so i decided to go re watch ur vids on savings and it hit me with a huge guilt. please do more videos as I did learn a lot from u when i started to subscribe frm ur channel. i need more ❤thank you

[pennylane]

Love your vids coz always concise. Short and jampacked with value. Easy to understand, straight-to-the-point. No time wasted.

[jonsenilla]

Ang dami ko talaga..natutunan sayo about financial life...kaya laga ako nanonood ..ang galing mo mag paliwanag...

[TrangeTahop-yewz]

Hi! I'm a new subscriber. I've been focusing on my finances for the past year and I stumbled upon your channel one day. I how light and casual your videos are. The way you explain makes information easy to retain and strategies are fairly easy to execute too, especially as a beginner. I have a really poor attention span and I skip videos/movies/shows that I watch EXCEPT yours. I love every second of it!

[xenaik]

good day ms Nicole I really admired ur thoughts about financial matters😊👍🥰

[sophiaisabelle]

We appreciate your advice to us. Handling finances well can definitely make a huge difference in our lives.

[ADJ]

Just in time. Looking for a new digital bank for savings. Thanks!

[yvanregesconde]

Thanks for sharing us you ideas regarding savings...god bless

[fyyqyrg]

omg, i just watch your videos early morning, and now you have uploaded ❤❤❤

[Lostsoul]

Yes.. we choose either the pain of regret or the pain of decipline.. Thanks for this!!!

[syntheticmood]

super knowledgeable talaga ng mga vids Next topic naman yung mga banks/e-banks na recommended mo with high interest aside from gotyme. Been watching your videos nung wala pa work and wala pa masave hahahaha but now I have work na and willing to achieve financial stability

[elajamias]

Eye opener ulit ❤️❤️❤️ Magseseryoso na po magsave, promiee. Hehe

[WhyNot.whatnot]

Thanks for sharing, for someone who is old(age) like me but not very financially literate; could you enlighten me more about how can one build his/her emergency fund? I love how you organize your content it is clear and yah beginner bobo friendly LOL

[roselleparagas]

Miss this kind of your video Nicole ❤ I started saving coz if you last 2021 hehe

[Frklenton]

God bless your videos are great I subscribe this.watching from Canada

[ineedacomebackfromtheartis]

Definitely one of my favorite videos I’ve watched. You explained it very clearly and accurately. Also, I agree with you, spending should be the last one and should have small allotted amount of money 🤣 like girl, I don’t wanna suffer when I’m gonna enter in my 30’s era. My goal is to buy everything I want when I turned 30. Thank you, this helped me a lot.