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What's up, Mitu Familia?
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My name is Tomas and we're out here at Zuma Dero Fest
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and we're just gonna be asking people what financial advice they would
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have told their younger selves.
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Let's go. What's one financial advice that you would give your
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younger self? Think about budgeting.
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I never had a budget when I was younger.
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I literally just spent and spent and spent.
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00, I got a high credit card this month.
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So I think the idea of planning is really,
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really important when you're younger.
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Don't be afraid to ask questions.
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Not everybody knows even the basic terms,
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just ask interest stocks,
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all of it. Just go ahead and ask people ask everybody
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actually save, save,
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just start saving, save that money.
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Even if you are only saving $2.05 dollars over a course of
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time that is going to compound into financial independence and impact in
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a way that if you wait until you're in your thirties or
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forties, I would have loved to start investing as early as
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possible and to really learn that magic of free money with compound
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interest, compound interest.
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Can you tell us just basic what it is.
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Tell the viewers what it is.
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It's like interest on the interest.
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So if you invest $10 in 10 years,
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It could be $1000 100,000 dollars,
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depending on what interest rate you have,
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the interest that you keep gaining,
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that keeps reinvesting itself.
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And then all of a sudden you're like,
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oh my God, I'm a millionaire.
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And you can't imagine that if you're just been saving like $20
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but never under the mattress,
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Because that will never grow.
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Justin invested all the money spent on shoes and cars and girls
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20 years ago. I mean,
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I don't think I'd be in a much better place right now
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If you could have received any financial advice when you were
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younger, what would you have liked it to be?
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Receive the money you deserve for the effort and the energy that
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Mitu familia, you heard it here first.
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Learn how to say properly,
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get you some of that compound interest and know your worth.
Series