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. 📌 Get higher interest on your savings with GoTyme Bank and get a chance to win free flights and Fly Free for a Year. Learn more at https://bit.ly/3NgMMhC 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! 📚 Additional Resource: The Shockingly Simple Math Behind Early Retirement https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/ 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? 💰 Previous episode https://youtu.be/QBlyBkUxOos 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 🍞 Email: alba.nicoleee@gmail.com ====== 💳 Apply for Citibank Credit Cards Rewards https://bit.ly/3upS68U Simplicity+ https://bit.ly/3Gq9Ao7 Cash Back https://bit.ly/3uxoGpk 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 💙 ====== 🕰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! ====== 🤝 Where to find me Facebook https://www.facebook.com/alba.nicoleee Instagram https://www.instagram.com/alba.nicoleee/ TikTok https://www.tiktok.com/@heynicolealba 🚀 Subcount: 443,488 -- 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.