I'd definitely recommend using your phone, provided you have a mid-range smartphone or better.
Advantages:
-Quality is more than good enough for vlogging, etc., potentially even good enough for a short film if you use it intelligently. Good quality content is much more important than good quality video, anyway.
-Most phones handle auto focus and auto exposure surprisingly well, leaving less to worry about when filming.
-Most people have one on them at all times, and have a very low set-up time. Just have a shortcut to your camera on your lockscreen and you should be ready to record in seconds in almost any occasion.
-Great live view screen.
-No extra cost if you've already got one.
-No need to worry about lenses.
-If you feel like you need better audio (something which is often neglected), you can pick up a smartLav on Amazon. This is a good quality lavalier mic, which plugs directly into your phone. It should be easily afforded from the money you've saved not having to buy a new camera.
Disadvantages:
-If you're a social media addict, battery might be a problem.
-If you're shooting handheld, it can get a bit shaky and jittery, but viewers probably won't mind or notice if it's a vlog or similar. A selfie stick reduces this problem quite well, but you sometimes run the risk of looking a bit silly, and you probably don't want to be carrying one everywhere.
-You may need to get creative with some tape if you want to mount it to a standard tripod.
-Storage space might be a problem if you've got a phone with a small memory and no external sd slot.
All in all, if you've already got a phone with a decent camera you've got nothing to lose. If you don't, it's worth thinking about next time you're buying a phone. I got a second-hand HTC One m7 on ebay for €170 and the picture is probably as good as a point-and-shoot you'd get for the price with two advantages: the front-facing camera means I can see the picture on the screen when I'm shooting a vlog or somthing similar; and it's also a top notch phone for a great price. I often use it to shoot videos here and there in favour of my Canon 550d.
Hope this helps!