hi friends welcome back to another youtube video in today's video I'm going to share my finance
literacy journey and how i actually came to realization that i need to
get better about managing my money especially as a working professional
there is a lot of money in tech and if you're working in tech you would are probably making
some amount of money and that was me it took me a few years to kind of realize that i need to take
better care of my money just instead of just blindly putting it in a savings account so in
this video i'm exactly going to do that i'm going to give a little bit of background in terms of
um what i was doing before and how i came to realization i need to learn about my finances
i need to get better at personal finances and what are the steps i took to learn i have two
books recommendations that i will be sharing here without let's get jump into the video make sure
to give this video a thumbs up and subscribe to my channel if you want to hear more about
data science tech lifestyle and everything else in between today's video is kind of like slash tech
lifestyle and everything else in between so i hope you like this if this is useful let me know i'm
happy to do more of similar videos specifically i got really good at managing my time so
and i did read a book for that so i really want to talk about it so let me know if this is
this at all is useful to you i will love to talk about it more so with that let's talk about a
little bit in terms of my background in terms of what background i come from growing up in a
culture that specifically encouraged things that men are the breadwinner and women are basically
stay at home people uh who take care of the home stuff i was not taught about financial
literacy at all i was not taught them how to manage my money i was not taught how to
grow my money and make them work for me so coming from that mindset and then when i started working
the only thing i started doing was like saving money in my account and the funny part was like
every and i had a lot of money saved like i work in data science and i have work i work in big
tech and the money is good like i'm not gonna lie the money is good if you want to know what
are the salaries for what people are making at fan company you can just go to levels.fyi and see like
um what people are making in terms of salaries so i was making a decent amount of money i was
in the industry for about seven and a half years and my bank account was obviously growing because
i was keeping everything in the bank account and i remember every time every time i would go to
my bank um and when i would have a question for them they would always treat me so nice
and because apparently they were making money off of my money because i had a lot of money in the
savings account and they were basically lending it to somebody else and making money out of it
so apparently i got a lot of good treatment i also wonder why are they so nice to me and then
i was like okay yeah maybe i just have a lot of money on my bank account so that's why anyways
long story short what ended up happening for me basically the transformation came
during um when 2020 when the pandemic hit and so there were two things that happened the pandemic
hit in 2021 i got to spend a lot of time on my own started thinking about my future my retirement my
10 years 20 years planned i think a lot of us did that did when this pandemic hit the second
was um there was this talk at google so i worked at google and there was this talk at google where
they invited this uh person named jl collin he's basically a writer he has wrote a few books and
he's a blogger he blogs about personal finance so i ended up watching one of his talks which i
think you can find here on youtube as well just google it jl call in at google and you'll watch
that interview so basically that was the interview that i watched which opened my mind that was like
that was my aha moment what i loved about jail colin and if you watch his videos the way he
talks the way he communicates it almost seems like your uncle or your uh somebody in your
family or your father is like explaining things to you which is like he's not trying to sell you
anything he doesn't have like a hidden agenda but the way he explains and simplifies things and puts
like uh highlights the importance of personal managing personal finance and investing that just
hit me very differently so i ended up getting his book which i'm going to show right now his book's
name is simple path to wealth so i got that books try reading that book the more i read about it
the more i started getting more excited and more interested in learning about personal finance
after and for me like a successful book is when i take an action so after reading his book i
actually invested twenty thousand dollars in the stock market also i set up my retirement account
which is the 401k plan gl collin was definitely influential in terms of like my personal finance
um the second was like the pandemic obviously made me think about what my long-term plans
and third is like being at google i realized like how much and i was new at google i joined google
in december 2019 and the pandemic hit in march 2020. at google i realized that
there was a lot of like these talks and sessions happening where
they teach you about financial literacy and there is also like advisor advisor services that
is free to all employees so you can talk to any financial advisor that they have in the directory
for free so i ended up setting up some time with those financial advisors to learn about and they
don't have any hidden agenda because they are not making any money off of selling you anything
because like google has paid them already so i ended up doing a lot of learning sessions with
those finance advisors one-on-one read jayla collins book before i jump further into it let
me actually show you the two books that i'm talking about so i read jail called a simple
call to wealth and then the second one i read was by ramit city so let me show you
so these are the two books i read i'm gonna zoom in so you can actually see it i'm gonna link them
below so you can get it as well so these are the two books basically what i i read some of the
chapters i have read multiple times on in simple past wealth that i will teach you to be rich
and these are the only two books read i thought about buying more books but i think these two gave
me plenty to get started and then what i ended up doing and this is my like learning process
for anything whether i'm learning something for data science related tech related or anything
so financial literacy i read these two books got my basics cost my fundamentals then if there were
topics that specifically i did not understand i would google them i would youtube them and
now i would watch videos um on them and then i read blogs on them took a long six months but
eventually i became educated to a point where i was able to figure out what i actually need to do
how i need to diversify my portfolio where i need to invest how i need to invest um and eventually
all that money that was sitting in my bank account is now invested in the appropriate places where
it needs to be invested uh besides the emergency fund i will share in terms of like which kind of
accounts i got educated on and i currently invest in there are five types of accounts that i invest
in one is 401k hsa backdoor roth factor roth is a good one you guys need to learn about it basically
uh irs loophole that you all need to figure out how to do if you are high income earner
then there is the individual stocks which i got educated on like which one to pick and how to pick
and then the crypto which i got educated on but i decided only to maintain keep a small portion
of my investment portfolio into crypto and the last one which doesn't apply to everybody is
the equity that i would get uh from the company so i last last class company was i was also i
have a lot of faculty from amazon and currently at google so bunch of equity from google as well so
learning how to manage this learning how to diversify my portfolio because i didn't want
to have a lot of my portfolio be specific to one company or two companies i don't know if this is
helpful to all of you or not but let me know like how do you manage your personal finances
the reason i wanted to talk about this because we all talk about learning data science we all
talk about learning tech but i think that is like something more important is like
at the end of the day we i mean sure i'm sure like yeah you're passionate about the field but we're
all working to make money but if we are gonna make money and we're not gonna manage our money
in a wise way then we're just wasting our basically hard-earned money you can keep it
in the bank you can save it but eventually it loses value to to inflation please please please
become financial literate because it is so so important it's a life skill just like cooking
or anything else it's a basic life skill to be able to know how to manage your money specifically
to be able to understand how to uh make it work for you i hope this was useful and inspires you
a little bit to at least learn about financial literacy and get educated in terms of how to
manage your money and how to make them work for you instead of you working for them working for
money you're working for money but make sure you get your money to work for you as well all right
with that thank you so much for watching i'll see you in the next video have a beautiful day