You're with an apostrophe is a contraction. It stands for you are.
You is a pronoun like he or she. Are is a verb which can be used when talking about plurals or with 'you'.
Notice that with the following examples you can simply substitute you are with you're.
You are going to be late for the concert. (correct)
You're going to be late for the concert. (correct)
You are an awesome friend. (correct)
You're an awesome friend. (correct)
Remember though that you were cannot be contracted to you're. You're is always used in the present form.
You were late for yesterday's meeting. (correct)
You're late for yesterday's meeting. (wrong)
Your is a possessive form of you.
Your is used when talking about something that belongs to you. Here are some examples:
I think your ideas are brilliant!
Your favourite grocer is over there.
Your chooks are adorable!
Think of the our in your. Our is also a possessive, just like your. So if you’re talking about something or someone belonging to you, use your.
You're is a contracted form of you are. So if you can substitute you’re with you are, then you’re is correct.
You're going to be late for the concert. (correct)
You are going to be late for the concert. (correct)
Your going to be late for the concert. (wrong)
You’re an awesome friend. (correct)
You are an awesome friend. (correct)
Your an awesome friend. (wrong)
