Sound financial advice is important regardless of your financial situation. Unless you're so rich that you don't even have to think about money, there are always ways to cut back on spending, to spend your money more wisely, or to make extra cash.
While you'll find a wealth of financial advice on the web, a lot of it can be confusing, frustrating, or unapproachable. By contrast, these personal finance YouTube channels will help you manage your money in a sensible manner.
1. The Dave Ramsey Show
Dave Ramsey is a well-known financial guru. He focuses on helping families become more financially disciplined in order to get out of debt. In addition to writing several books, he also has a daily financial radio show that you can watch live on YouTube.
While he can come off as a bit brash at times, there's a lot of great financial advice here. And it will be especially useful for those really struggling to get their finances under control.
If you don't have time to watch or listen to the full three-hour shows, the channel regularly posts short clips from the episodes that cover certain topics. Dave takes calls from listeners, addresses interpersonal money issues, and more.
In the clip above, Dave talks to a caller whose girlfriend is hesitant to discuss money matters with him. He looks into how this could become a real issue for a couple, and discusses how vital good money management is in a marriage.
Another caller asks Dave what she should do with a $10,000 tax refund. It's a good illustration of Ramsey's "Baby Steps" plan, as he looks at the best things she can do with that extra cash flow.
For more advice on personal money matters, why not listen to these podcasts that will help you get out of debt.
2. The Financial Diet
This channel doesn't feature the deepest financial advice you'll ever find, but it does offer some practical tips for people looking to take a more proactive approach to their finances. It hosts three shows per week:
- Making It Work on Thursdays features video essays of success stories from real people.
- The Lifestyle Fix on Fridays looks at how to make your life better on a budget.
- The Financial Diet on Tuesdays covers general financial topics.
While you might think about personal finance as an unapproachable topic, you can break it down into smaller segments, helping you to get started. This video in The Financial Diet series discusses six ways you can make financially smart decisions before you even wake up.
We're all familiar with shopping on Amazon for the convenience and selection. But this Lifestyle Fix video points out some products that you should never buy on Amazon because you can save money by shopping elsewhere.
3. The Money Guy Show
The Money Guy Show is another money-focused show that offers live episodes as well as clips on all sorts of topics. You'll find everything from rates of return to tax penalties to 401(k)s and more covered. The channel has a huge archive of videos to browse through, so you can pick up the basics of many different spheres of finance.
Don't let the low subscriber count fool you. If you don't mind the two-host show format, there's a wealth of valuable content to mull over here.
The above clip looks at some common financial activities that you may have been fooled into thinking are smart investments, but which are actually gambling with your money.
Have you ever been confused by the world of retirement plans? This full video breaks down the different types of 401(k) plans so you can make an informed decision.
4. TruFinancials
Speaking of low subscriber counts, TruFinancials is a criminally underrated channel. Denis does an excellent job of explaining financial topics in an approachable manner. The advice here is well beyond what you'd expect from a smaller channel.
TruFinancials covers living frugally, credit cards, bank accounts, and more.
In this clip, Denis looks at how paying just an extra $100/month on a student loan can drastically reduce the amount of money you'll pay over the life of the loan.
Budgeting is vital for making a plan for your money and knowing where it's going. If you struggle with creating a budget, check out the channel's monthly budget planning and reports videos. This one looks at his budget plan for April 2019.
5. BeatTheBush
Our final channel is another smaller but high-quality channel full of relevant financial topics. The owner is an ex-engineer who strives to save as much money as he can and then share what's he's learned with other people.
This video looks at how you don't need fancy clothes to impress people. Instead, a budget wardrobe and good reputation can speak for itself.
A somewhat meta topic is covered in this clip. BeatTheBush asks how much is really enough, and how this ties into your financial life.
YouTube Is Just One Way to Manage Your Money Better
Of course, while there's a ton of good advice here, you should weigh up opinions from trusted sources before making any major money-related decisions. But these will at least help you start thinking about your finances in a more critical way, and make decisions to set yourself up for longterm financial success.
For more help with personal finance, check out these tools for people who hate managing their finances.