Finance expert: Life within means

 Yanely Espinal, director of educational outreach at Next Gen Personal Finance, gave financial advice to middle-school students at Beekmantown Central School District recently. She told them how to be careful with money once they start earning it.

PLATTSBURGH — Beekmantown Middle School students got a recent lesson in personal finance from a self-taught financial literacy YouTuber with more than 30,000 subscribers.

She also provided a cautionary tale for how to avoid a lifetime of debt.

Yanely Espinal, director of educational outreach at Next Gen Personal Finance, talked with 200 students in five home-and-career-skills classes about her experience growing up in New York City and becoming one of the first in her family to attend college.

Despite earning a full scholarship to Brown University, she rang up $20,000 in credit-card debt trying to keep up with her wealthier classmates.

“Every time I ran out of money, I got another credit card, maxed it out and then got another one,” said Espinal, whose MissBeHelpful YouTube channel is among the most popular in finance.

"You can avoid making the same mistakes I did by living within your means and training yourself not to spend money on things you don’t need, like expensive clothes and going out all the time.”


Espinal’s appearance in Beekmantown was part of CFES Brilliant Pathways’ Gear Up grant from the U.S. Department of Education, focused on helping students become college and career ready.

The day-long event was in partnership with Next Gen Personal Finance, a nonprofit dedicated to equipping students with the skills to lead financially successful lives, and the Center for Financial Literacy at Champlain College.

"We look forward to the day where no adult refers to personal finance as ‘the class I wish I had in high school,’” said Tim Ranzetta, co-founder of Next Gen.

“Partnering with organizations like CFES Brilliant Pathways will help us achieve Mission: 2030 so that by 2030 all students leave high school financially capable.”


Espinal explained to students how she got out of debt by being frugal and not letting her emotions lead to impulse buying or unnecessary purchases.

She guided them through a behavioral economics activity to illustrate how better decision-making allowed her to erase debt and save more than $50,000.

“Yanely did an outstanding job of engaging the students and using personal stories to teach the students about how challenging managing money in a responsible way can be,” said Erin Kelley, who hosted Espinal in her Home and Career Skills classroom.

Family and Consumer Science teacher Dawn Finley brought some of her high school students to hear Espinal speak as well.

“I thought Ms. Espinal’s presentation was very educational and interesting,” middle school student Christian Nelson said.

"It answered a lot of questions I had about money and college.”


Seventh-grader Anneke Rocheleau said she could relate to what Espinal said about people tending to buy things because other people have them.

“She taught me that you should save a lot of your money and really think before you buy,” she said.

“Ms. Yanely made me want to check out her YouTube channel, which I found to be very helpful,” added classmate Cameron Danville.

“She also talked about her life stories and a few scenarios that really helped me open my eyes and see that I can't just go around spending money from left to right.

"I really feel like she should inform other people and/or schools because they should know how to make money and how to use it.”


Espinal encouraged students to talk with their parents about setting up 529 College Savings Plans, the importance of maintaining good credit and being disciplined about putting a percentage of their first payroll checks into savings once they start working.

She emphasized that even little bits of money that you might save from birthday funds, an earned allowance or holiday cards can add up and grow over time.

"One of our main goals in helping students become college and career ready through the CFES GEAR UP grant is to educate them about how to pay for college so they can achieve their dreams,” CFES President and CEO Rick Dalton said.

"Financial literacy is a critical element to a student’s future success in college and beyond.”

Learn more about CFES Brilliant Pathways at: