Exactly, the lengths people will go through to justify why people are broke when in reality it's just all stuff that's out of our control Also, never take anything from fintubers seriously is my mantra now, they're all shameless shills
I agree, I sat down and went over my records(I have spread sheets of weekly expenditures from 2016 to present), for the same bills, we are paying 38-72% more. We don't have car payments/student debt/credit card debt and were fairly comfortable until 2023 and this year is worse.
@@funsizedi88 I started saving receipts in November. It's eye opening. I wonder how I spend $1200 on basic food for one single person cooking at home per month. The internet says this is "wrong" and I am lying. It keeps being random things I didn't know would be expensive until I got to the register. $8 for salad dressing, all of a sudden a small jar of roasted peppers is $5. Who expects that? I used to just throw those in the cart because I thought they'd be cheap.
@@istvanpraha Goddamn eggs are $14 for a box of 60 at Walmart!!! That's ×2 the price it was just months ago and ×3 the price before our government shut us down during COVID!!!
Strangely enough, I’m not broke. I’m actually doing quite well on a modest salary. But then, I don’t have car finance, a phone contract, any TV subscriptions, gym membership, never use taxis, never buy coffee on the move, take my own lunch to work, rarely buy fashion, and keep white goods, TVs, cars, bicycles and so on until they are beyond repair. I get my clothes and shoes repaired when they show wear, and I only buy good quality stuff that lasts a long time before needing replacement. I grow my own vegetables, and we buy everything else from local farms and farm shops, even sometimes at the side of the road (eggs for example). I rarely eat out - mainly because I can make a tastier meal from good ingredients, for less money, at home. If I need exercise, I ride my bikes - I bought them years ago, maintain them, and they’re free to use - just need maintenance now and again. Same with cars - I run a 13 yr old car, paid cash for it, and I maintain it when it needs fixing, with good quality parts. It’s not hard to live well for not a huge amount of money, if you are prepared to be sensible and think about your spending habits.
I had to push 5 different cancel membership buttons to escape Amazon prime after the free month. How scary and controlling they didn’t hear no the first time.
Oh, they hear and SEE you--they just make is IMPOSSIBLE because it's revenue lost for them. They know exactly what they are doing. Whether it's ethical or not.
They make it a hassle to cancel. I believe they got sued a while back because of that very reason. Supposedly they were using sketchy tactics in making it hard for people to cancel their membership
Also, they make it so unfair to sign up accidentally when they have an auto-signup button when checking out and advertise the free shipping and put the charge terms in tiny letters. My mom got hit like 3 times with a monthly charge without knowing (shes not tech savvy)
2024 has been a terrible year. I broke my foot, my wife had to go to the ER and have surgery, my MIL that takes care of our kids, had a stroke, my AC went out and everyone is quoting $10k. My daughter had to have surgery for her tonsils, and my other one needs it too.
So sorry to hear everything you're going through! Hang in there, things will get better -- just keep doing the best you can. Sending up prayers for you 🙏🙏🙏
@unclewazza777 who said anything about religion? It's not even about that at all, it's literally how people are just trying to survive nowadays and these big corporations are literally sucking every penny that we have. We need something new to happen, we need to rewrite the system with our own money by supporting small businesses. Clearly if people keep buying from these big corporations and they dominate the industries, more people are gonna hear about them than small businesses. On top of stores like Temu who sell your data(Facebook does as well), to advertise the stuff towards you. They literally put stuff on discounts to make it cheaper than it actually looks like. Big corporations make so much money that if even a group of 10 robbers went into Walmsrt and stole $500 items EACH, they'd still be making money that day, unlike small companies who would take a toll and it could ruin them.
@@xpookiezx6152 Buying at local businesses, especially mom and pop shops, is something we all should do at least some of the time, even if we have to pay a little more. If you don't, you could easily lose those stores and any incentive for new ones to take their place. Happened in my small city. Everybody goes to Walmart and half the shops on our main streets are shuttered now.
Credit cards aren't bad as long as you are financially literate and don't carry a balance. I've accumulated over $2,000 in cash back/rewards without ever paying any interest. The problem people tend to have, and this goes with all credit (loans), is paying only the minimum. Too many people get trapped in thinking the minimum due is all that you should pay. So people rack up credit card debt because the min due is so low. Video subscription services are essentially a replacement for cable which shouldn't be an expense anymore bc you can get free local channels via digital antenna. Over subscribing to all platforms is an unnecessary problem. You don't need every service.
A buddy was doing a questionary about what restaurants I used in UberEATS. I told him I didn't. He was confused. I had to tell him I didn't spend money on that! Unlike him, I didn't have money to waste. I eat at home!
I like to think of subscription services as a pay decrease, because that's what they are. If you have $100-200 a month of subscription services, hell even $10, that's a decrease in your pay check. There's a reason why subscription services are always set to auto renew, because they know a good chunk of people will "set and forget."
But plenty of subscription services are actually a decrease on what people used to pay. Subscribing to a couple of streaming services is significantly cheaper than subscribing to cable, for example. Spotify is cheaper than it used to be to buy one album a month, and I don't know many people who didn't do that. There are subscriptions that convince people to buy things that they wouldn't have done otherwise, like Adobe. I don't know many ordinary people who bought Adobe Photoshop for $600 back in the day, but plenty of people will pay $50 a month for the whole Creative Cloud. And a bigger issue is things bought on credit that people have convinced themselves is just a subscription. Like the 2 year phone subscription that comes with a 'free' iPhone. But for most people, there are far bigger budgetary issues than a few subscriptions.
They are fine, if you have the time to binge on gym or TV. If you have that much time, you should either be retired, or you actually shouldn't be wasting that much free time...
@@sprinkle61 If you actually use them and get something out of them, I'd agree. Problem is, most people get a dopamine hit from subscribing, use the service once or twice, then forget and just continue paying. How do I know? I used to be that person.
@@fafa1648 Yes, the value just isn't there, unless you binge the hell out of them, and most working people really shouldn't be spending that time watching old or bad shows...
One of my realtor friends told me how often he came to a home with all these piled up Amazon boxes and junk. It’s just too easy to buy things you don’t need & also the whole “I don't save because there’s no point” mindset can be a self-fulfilling prophecy.
Also the doomsday philosophy a lot of people I know live by which is I won't live long enough to need to save. I myself was living like that until a year ago I never believed I'd live long enough to need to as well. Hard mindset to get rid of health kinda goes a long with saving $ and is probably what people who believe in the doomsday theory need to focus on before they take steps to saving. Everyone is different though @@jessicah3782
Buying silver and gold is easy, but it is renowned for stability during economic hard times like this. The main problem is investing in stocks, dividends and even cryptocurrencies to grow your portfolio.... I’ve been trying to grow my portfolio of $190K for some time now, my major challenge is not knowing the best entry and exit strategies ... I would greatly appreciate any suggestions
Just try to diversify your portfolio to other market sectors, that way your portfolio is balanced and you don’t get to make so much losses. Also engage the services of a financial advisor to walk you through
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
once you hit a big milestone, the next comes easier.. would you mind dropping info of your invt-advisor please? i'm in dire need of proper asset allocation in order to achieve an optimal portfolio till year end, thanks in advance ..
Well, we are paying for every little thing. In the old days, no cable bill, barely a phone bill, and you only needed 1 decent job to support your family.
Well, you are living with too much extravagance to fit your measly budget 😂 "In the old days, no cable bill" - I have a heap of money just sitting in the bank, because I have no TV to watch cable on, or pay for netflix or other streaming service(s). - Reflect on that for a second, if you will -
In the old days almost everyone who could possibly afford it got cable, and it was very expensive, especially adjusted for inflation. Today, a lot of young people don't even watch TV, they watch youtube or pay 15 bucks a month for a streaming service(probably both). Phone bills were pretty high too. When I lived in Los Angeles, calling someone in "the valley," just a few miles away practically, cost as much as calling New York. It was expensive enough that we watched our minutes VERY carefully. Now I can call all over the U.S. for the same price.
The US dollar is losing value due to inflation, while other currencies are gaining strength, creating uncertainty. Nonetheless, many people remain confident in the Dollar's perceived safety. I'm concerned that my 420K retirement funds may lose value, therefore I'm looking for other financial stability.
With my stressful career, I don't have time for investment analysis. For seven years, a fiduciary has managed my portfolio, responding to market situations, ensuring for effective navigation and informed decisions. Consider taking a similar plan of action.
I recommend looking into her qualifications further. She has extensive knowledge and is a treasure trove for anyone seeking to manage the financial markets.
Stop buying stuff, no matter how tempting. Just groceries! Buy groceries mindfully with an eye on sales and no junk food. Cook around what’s on sale. You will see a big difference in no time.
I know so many who have bought way too much house and cars! They are stressed every month over the bills that come along with it. While we can blame some things on inflation and shrinkflation but at some point you have to take some personal responsibility and decide to alter your purchases or expectations or educate yourself so you can afford the things you want in life.
I agree with you 💯. 5 years ago we moved countries and we decided to buy rather than rent as my husband qualified for a tax break. We set a budget and had a wishlist of what we wanted and needed for our new home. We were willing to do renovations to get a home we enjoy. We could have spent double, but we kept our ego in check and we are so glad that we did. We did a large renovation almost 3 years ago and we enjoy our home. We also have small electric cars that we bought second hand with very low mileage 😊
Make under 30k a year...no credit card debt..no car debit..and even my house is paid off....worked 2 jobs for 7 years in order to pay my house off early. Live below your wage...know the diffrence between a want and a need.
So you have no car, and walk everywhere? I make 60k a year and don’t buy anything I don’t NEED, and can barely pay my bills at an APARTMENT. You’re the problem.
@parkerC1990s no I own 2 cars..NO CAR DEBT..I also OWN my home outright and pay no rent...I'm not the problem...I'm an example of the solution. I worked 2 full time jobs for 7 years...renting the cheapest room available..I worked..ate..slept and Not much more in order to PAY CASH for what I wanted/needed...now for the rest of my life I can leisurely work a job I like only 40 hours a week.
BS, I'm not broke! We're not all stupid without any financial acumen! GET OUTA DEBT and STAY outa debt (including your mortgage!) Learn to cook!! Eating out (paying someone else to supply and cook your food) is EXTRAVAGANT!
Look at the deductions on your paycheck. Look at the tax on whats left of your check when you purchase something. Look at the tax on things you've already paid for. Government has become way too big and expensive.
I work in tech. If my device works, it stays. If it doesn't work, I figure out why and fix it. I order from places that offer used goods (not food) and they are always primo, and I'm not sending something to a landfill. Keeping and fixing and buying second-hand saves a boatload of money for me.
That’s terrifying! I remember before streaming, we had a cable bill. My first wife threatened to divorce me if I cut it. Yep my 2nd wife thinks cable is a waste of money
This was so good!! Financial education is so desperately needed, and it really matters who you surround yourself with. If you’re surrounded by people who have “the little man can’t get ahead” mentality, that impacts you in a hugely negative way. But, if you surround yourself with people who take action and look for opportunity and carry themselves with optimism, that’s going to impact you and your outlook and the decisions you make in a positive way. Thanks Gabe! 😊
That’s what RUclips comments have become…everyone complaining instead of taking opportunities to up their income. They flock to those kinds of videos for confirmation bias…comments from their MacBook or iPhone (whatever is the new one)..while scrolling IG comparing themselves to others.
The anti-consumerism movement has been around a very long time, the 99%/ Occupy Wall Street protests were one of many such manifestations. One of my favorite reads are the works of Thoreau, an anti-consumerist from the 1800's. Even Ecclesiastes and Proverbs go into the fact that our amassing of possessions does not produce true joy.
I remember the Occupy Wall Street movements. They happened in 2011. I was living in Boston at the time, and they called it Occupy Boston. They had tents set up everywhere. I totally agreed with what they stood for and wish that the movement hadn't died out.
It's a mental disorder. Speaking of our parents, buying a house in the 1970s, it is $20 to $25k in burbank, CA. A brand new car was $4k. When knowing that people decades ago had lower inflation, it makes it so upsetting to live today, especially when hourly rates in the 1970s was $2.50 an hour. Do the math from what I wrote here to today's cost of living, buying a new car and home and it makes you want to cry, but what I am saying is the truth because I was alive at that time.
I have been saying for years how we are setting ourselves up to pay high prices by buying from companies that are out to get the monopoly by selling things really cheaply. In Australia and I’m sure everywhere else big companies with lots of money behind them come in cheap and pop up everywhere and push out the little shops, then when the little shops are all gone prices skyrocket and we all complain. An added layer to that is they all sell the same items because they are cheap for them to buy in bulk and we all end up looking like little clones of each other or having houses that are all decorated the same and we lose our choices and individuality. It’s the same with online purchases allowing you to be able to return things that don’t fit etc for free. Once they have the monopoly and you can’t go to a physical shop because they have had to close due to not being able to complete with the online stores low overheads free returns will stop too. Then everyone will complain about how things don’t fit because you can’t try them on but it costs a fortune to send them back. 🤦🏼♀️We are buying into this ridiculous way of living and before long it will be our only choice.
Very on point re what Amazon has done. Prime used to be pretty cheap, but now that Amazon owns retail, the price keeps going up and up, and now they want an extra fee just to not run commercials -- on a service that used to be commercial-free in the first place! Once they've got you, they've got you, and they know it.
It's also a lack of financial education in the schools. Schools intentionally don't teach us how to manage money because the modern education system was created during the industrial revolution.
THIS. I own up to everything I have done in my life. But, I will also say that I had basically NO financial education for most of my life and I had to learn things the hard way only after enduring the consequences.
You are spot on about younger people thinking they can spend as much money as older people. I'm relatively old- 50- and I am just now starting to spend money, even though I have been making six figures for 25 years. I was still driving an old 1996 Honda Accord until a few years ago. Once I saved a 7-figure nest egg, I sold the Accord and bought a fancy German car that is paid for essentially by the interest I earn on my savings account. In fact, with interest rates as they are, the interest I earn is almost enough to pay my mortgage. But until 10 years ago, people looking at me would have thought I was barely scraping by.
You think 50 is relatively old? I just turned 55 in June and I still feel like a teenager. 50 isn't old unless you live a lifestyle that makes you look and feel it.
@@josebro352 A lot of that depends how physical your work and the rest of your life is. We all age out of many things eventually. And even if we can still do them, recovery time increases noticeably.
@user-ps1ft1hy4j I agree to a point. Not sure if you've heard of Cambridge, Massachusetts but it's where Harvard University is located and it's a pedestrians paradise. I just walked from one side of it to the other side yesterday. Took me two and a half hours. I'm 55 and it makes me feel like I'm still in high school. Just keep active and eat a lot of fruit l guess. Thanks for your reply.
@@josebro352 I do a very physical job that a lot of people in their 20's have trouble keeping up with, and I usually do it as well as they or better, sometimes much better. But I think they feel less sore and simply worn out than I do before, during, and after. My secret weapon is that while some of them quit and some of them get fired, I show up every day. And I've already long taken it for granted that life is tough.
A lot of SCAMMERS on here talking about VALSKOV. I guess they target RUclips videos that are likely to be watched by people in desperate financial situations.
LA Fitness was the worst to cancel. Not only did I have to go into a location to get the cancellation form, then you have to mail the form back to corporate. You can't just give it to the location. I ended up paying a year longer than I needed it.
Houses are 55% larger than in the 1980s. People could survive on 1 income if they had a smaller house, lived closer to work so they could walk, bought older used cars instead of new $50,000 cars with $700 car payments on average and also cut all the subscriptions.
I have ZERO subscriptions. No streaming services. Rarely eat out - 2-3 times a year - maybe. And when I do because it's a social gathering - I feel ripped off.
This seems like the worst period. Even the market are now very unpredictable. Started investing recently when the market prices were a bit high,today I am more than 60% down!..
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Lorett Logan
I really appreciate the dedication in each video you post. Building a steady income is quite difficult for newbies. Thanks to Natalie Rose Strayer for improving my portfolio. keep up with the good videos.
I'm surprised that you just mentioned Natalie Strayer here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
Natalie Strayer has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
Her good reputation already speaks for her .I’m also one of the beneficiary of Natalie Strayer. So happy I gave it a trial after being skeptic of the process.
When did simply "working hard" ever get anyone where they wanted to go? Never! When people say to work hard, they don't mean to dig ditches in the Texas heat all your life.
But it's true. Working hard, long hours doesn't get you ahead. Lots of people working hard at McDonald's and will have nothing to show for it. Hard work has to be paired with marketable skills. Hard work alone doesn't get you anywhere.
@@runningfromabear8354 Agreed. Part of that "hard work" is finding opportunities and getting the knowledge and experience to make yourself more valuable. Anyone can work a shovel - it's blasted hard work (I've done it, it's not fun) but it doesn't take a lot of effort to figure out how to do it. So I wasn't worth much per hour as a shovel operator. When the boss found out I knew how to work with Excel (I was a comp sci student working construction as a summer job) and I could sort out his expense tracking spread sheets he thew money at me and practically begged me to take the job. That was hard work too of course but much more rewarding.
This is a great video I really appreciate the dedication in each video you post, I learn a lot watching your videos and it has always been helpful to me. Building a steady income is quite difficult for newbies.. Thanks to *Dale Valskov* for improving my portfolio. keep up with the good videos.
This is an incisive and well presented video. Inflation and shrinkflation always disappoint me when grocery shopping. That and the unfortunately very common habit of "treat yourself" is impacting my income. Will try to stick to a budget as you suggested 😊
Easiest way to stick to a budget is to hard lock your spendable balance. Automatically throw a huge percent of your income into investment accounts and make it work with the rest.
To say you need a side hustle to get by in "most" American cities unless you make $200K/year is absurd. You're talking about a few very expensive cities in CA and NYC, and not much else. In the vast majority of the US you can live very comfortably on $100K/year.
The most important thing is to have a budget you stick to. Also do an annual review of your spending. Been doing it for a decade and takes about 5 minutes of work each day. I know exactly I can spend and can plan for huge life events such as having a second child with some quick mental math. Keep things simple and automate everything related to finance as well such as paying bills and investing. You'll be wealthy slowly but steadily.
I’m 29 and have just over 700,000 dollars in savings and investments. How? I drive an old and beat up 2013 Toyota Prius, I live in a small but comfortable 1 bedroom apartment. And I aggressively invested almost every dollar I made that I don’t need for fixed cost since I was 21. The best part about it is once you pass 100,000 the growth kicks into high gear and your investments begin to pay you enough to fund the things you love to do. Even though I invest almost every thing make from my 9-5 my investments pay me enough dividends to travel, go out, party with friends, and everything else I love. If I can do it you can do it.
@@matthewduffy1748 He drives an old beat up prius and lives in a 1br apt. It's all living below your means, that's the sacrifice. I did it too and was a millionaire by 30. It's very doable, but most live way beyond their means to keep up with their broke friends.
@@fireat40 Kids only burn through money if you throw money on the fire for them. They are an increased cost, but if you live frugally it pencils out to far less than people assume they cost. This, of course, is assuming nothing goes catastrophically wrong medically
Its about to get a lot worse too. Along with extremely high inflation the government is about to raise tax rates. They really need it because somehow they are running out of money but can somehow give trillions to ukraine.
@Madchris8828 Been that way for decades, though. It's nothing new. In 2024, it's Ukraine. In 2003 it was Kuwait. In the 80s it was Lebanon. The US has always been this way.
You have a point, but the majority of the blame goes to government and corporate greed. People are paying 12$ for bread and eggs. So not so much "consumerism"
Some people aren't in the system of consumerism. I was in grad school working full-time when I was diagnosed with stage 4 cancer. I couldn't work full time anymore. My healthy nest egg was depleted to pay my mortgage and living expenses. Thankfully, I was able to graduate, but it took mental, physical, spiritual, and financial strain with treatment etc. I ended up qualifying for state medical insurance as a perk of having a terminal illness, than paying >$20000 a yr to live. So there are folks are doing the right things, but fall into unforseen circumstances. On the surface you may pass them and think all is well, but some folks are really going through it.
The opening remarks reminded me of Niccolo Macchiavelli's quote "But above all he must refrain from seizing the property of others, because a man is quicker to forget the death of his father than the loss of his patrimony.”
My expenses since the year 2020 has jumped from 7000.00 to 12000.00 a month My mortgage is only 1200.00 and will be paid up in 8 months.our Walmart bill a month has jumped from 1400.00 to 2500.00 since 2020. Crazy!
A number of things he touches on highlight the importance of not just anti-monopoly laws, but of those laws actually being enforced. If we're going to have a market-based economy, there needs to be an actual marketplace, not just one company who drove all of its competitors out of business by hook and by crook.
I disagree about being able to invest your way to be a millionaire. Let’s say you have 100k just laying around (unreasonable assumption) and you invest it so it gets you yearly 20% (even more unrealistic) for 10 years in a row (you guessed it). Even before inflation and cap tax it won’t get you to one mil. I would say that is another lie people are made to believe that investing what little they have will make them rich. To get big returns from investment you have to start with big capital in the first place.
He just said work smarter not harder this is great advice. As a Gen X the advice my parents gave me was similar and effective in that time "you can work more hours or you can work for more per hour, the first will kill you" I started with that advice at 17 and eventually am working in to this advice as the first got me here but I need to take it to the next level.
Went to return my T-Mobile Internet to the store...They would not accept it. Oh well, I tried, now they send me letters etc... I just want to live in a cash world again, . No more loans from banks....no more. I bought an Office Space DVD at a yard sale for cash. Life is good. tHanks for the video
Children need to learn personal finance and the value of their money when put into investments. I rarely eat out, but I did with my wife the other day and the bill came out to $80. I about cried when I realized that is half a weeks worth of groceries for breakfast, lunch, and dinner for the both of us...
Lifestyle is a huge factor. No... You don't need a vacation. You need to earn the money to pay for a vacation and not just put it on a credit card. And 750+ a month for the average car payment is nuts! Buy used and save a ton. No they don't cost 750 a month in repairs.
Truth! I have a few monthly subscriptions' but others I will do the trial but use a new virtual CC number that is set to expire before the next billing period so they can't charge me again if I don't want them to.
I think one of the things that keeps people poor is this fascination and desire for travel. I dated a woman had to move back in with her parents because she could no longer afford her rent. Not but one month after she moved back in with them, she booked a trip to Cancun for a week. If I was her and had to move back in with my parents, I wouldn’t take a trip until I could move back out again. I’m also not that interested in traveling and vacations, but I’d hope that people who have little money would refrain from spending on luxury items such a vacation.
Easiest way to avoid paying for subscriptions after the free trial is to set a calendar or todo list reminder to cancel 3 days before the end date. I've been doing it for years and have never accidentally missed cancelling a free trial before getting charged
Arent all subscriptions going on the whole free trial after cancel? I always cancel at Netflix/PsPlus after paying and my monthly subscribtion still goes until the end even if it was on sale.
Debt is like a cig you just can't stop. Broken down people looking for a low cost coffee shop. All in a daze my 401K is on a lazy day! No raise and lay offs. The boss is playing card games on the computer in the office. Mop the floor. Clean the bathroom. The last of my account is in the stock room! Modern society is for the birds, I don't have enough money to buy cheese curds!
The subscription service has gotten out of control. There are products out there that have NO BUSINESS being in the subscription service space. Serato, Adobe Photoshop, Video Games. just to mention a few. But there are a ton.
I remember when I first got a job in 2005 and doing the math with a coworker that cooking and bringing your OWN breakfast and lunch would save like $3000 a year now it's probably way more.
It amazes me that people try to find financial security by going to a gambling Casinos or buying thousands of lottery tickets. It's reported that 500,000 people a year file bankruptcy because of gambling debts. A friend of mine in his late sixties was still working when I retired because he mortgaged the house in a failed hope to regain his loses. His wife refuses to let him retire until they are out of debt.
The fitness industry needs to be called out for this. As instructurors you are charged first of all to get your qualification in American rollers hundreds of dollars and not told until you complete the coarse that every month for the test of your life you will be charged to remain liscensced if you do NOT pay this monthly 75 American rollers (no matter what country you are in so also have fees) if you do not oay this amount you have to go back and do the entire coarse again so you are officially signed up to this monthly for the rest of your life JUST to teach the class and the class pay per hour has gone down so it does not balance out.
I feel that the last bull run was bolstered by all the money being printed. Major returns next bull run but I think they will be tamer in my humble opinion. A 10x on *Dale Valskov* and a 15x on polygon are fair considering how much those two coins are interwov
I think it's definitely lack or no financial education in grade school. People are starting out almost too late now and fortunate if they're on the right path. My parents didn't teach me anything about finance nor did my school. Had to teach myself most of it.
I worked for corporate during the lockdown at Planet Fitness in PA. Oh they make it so you can't cancel your subscription on purpose. I was in on those corporate meetings where if people wanted to cancel, we were told to tell them they had to speak to a store manager but, the managers were told specifically not to be in the store so the customer would purposely pay for more months. People sued "PF" during the lockdowns. And should have. I'm listening in those meetings and was like "this has gotta be illegal."
If you're going to cancel the subscription do it like the day after you sign up when you remember as it will last until the end of that month anyway, or set a reminder on your phone.
There are so many traps that keep people broke: --Having kids before you can afford them. This is the biggest one no one talks about. --Highly processed foods that make us sick and dependent on expensive drugs. --The culture of eating out / spending money to do things instead of just going to the park, playing board games, cooking at home together, etc. --Consumerism and subscriptions are certainly a big part of this, but the above two aren't talked about enough. --Young people being brainwashed with the idea that college is the only way and just take out student loans, no matter what the cost. --Just in general, it seems like in America the blind are just following the blind. If you just go with what everyone around you is doing, you will likely be broke.
"If you don't know where your money is going, you won't have any money!" Well said!!!
in london all the rich young people are massive cheapskates and i say good on them and food in london is very bad food in Bristol so good
Fast food and eating out in general kills budgets and people often live in denial about it.
Yes! The prices of food delivery services are outrageous! I simply refuse to use them. I cut down on eating out, too.
Yes I just paid $15 for a Bagel 🥯. Never again!
@@agak61 😳 That is an outrageous price! I remember a bagel and cream cheese used to cost 75¢.
@@otrebla8944 yes that’s why no more
That’s addiction right there for ya.
Rent went up 1200-2000 depending on number of rooms here. My basic groceries up 500 a month since before covid. Netflix is not the issue lol
Exactly, the lengths people will go through to justify why people are broke when in reality it's just all stuff that's out of our control
Also, never take anything from fintubers seriously is my mantra now, they're all shameless shills
This
I agree, I sat down and went over my records(I have spread sheets of weekly expenditures from 2016 to present), for the same bills, we are paying 38-72% more. We don't have car payments/student debt/credit card debt and were fairly comfortable until 2023 and this year is worse.
@@funsizedi88 I started saving receipts in November. It's eye opening. I wonder how I spend $1200 on basic food for one single person cooking at home per month. The internet says this is "wrong" and I am lying. It keeps being random things I didn't know would be expensive until I got to the register. $8 for salad dressing, all of a sudden a small jar of roasted peppers is $5. Who expects that? I used to just throw those in the cart because I thought they'd be cheap.
@@istvanpraha Goddamn eggs are $14 for a box of 60 at Walmart!!! That's ×2 the price it was just months ago and ×3 the price before our government shut us down during COVID!!!
Strangely enough, I’m not broke. I’m actually doing quite well on a modest salary. But then, I don’t have car finance, a phone contract, any TV subscriptions, gym membership, never use taxis, never buy coffee on the move, take my own lunch to work, rarely buy fashion, and keep white goods, TVs, cars, bicycles and so on until they are beyond repair. I get my clothes and shoes repaired when they show wear, and I only buy good quality stuff that lasts a long time before needing replacement. I grow my own vegetables, and we buy everything else from local farms and farm shops, even sometimes at the side of the road (eggs for example). I rarely eat out - mainly because I can make a tastier meal from good ingredients, for less money, at home. If I need exercise, I ride my bikes - I bought them years ago, maintain them, and they’re free to use - just need maintenance now and again. Same with cars - I run a 13 yr old car, paid cash for it, and I maintain it when it needs fixing, with good quality parts. It’s not hard to live well for not a huge amount of money, if you are prepared to be sensible and think about your spending habits.
White goods?
@@priestesslucy3299I was thinking potatoes, rice, flour, onions but am not sure
@@jacquelynn2051 I think the word you're looking for is Staple Foods.
Stuff that stores well and builds the Baseline of a diet
@@jacquelynn2051 sounds like the term you want is Staple Foods
@@priestesslucy3299fridge, washing machine etc
I had to push 5 different cancel membership buttons to escape Amazon prime after the free month. How scary and controlling they didn’t hear no the first time.
Weird, I only had to click twice.
Wow! Glad I never signed up for that even though they ask every time I make a purchase. I dodged a bullet.
Oh, they hear and SEE you--they just make is IMPOSSIBLE because it's revenue lost for them. They know exactly what they are doing. Whether it's ethical or not.
They make it a hassle to cancel. I believe they got sued a while back because of that very reason. Supposedly they were using sketchy tactics in making it hard for people to cancel their membership
Also, they make it so unfair to sign up accidentally when they have an auto-signup button when checking out and advertise the free shipping and put the charge terms in tiny letters. My mom got hit like 3 times with a monthly charge without knowing (shes not tech savvy)
2024 has been a terrible year. I broke my foot, my wife had to go to the ER and have surgery, my MIL that takes care of our kids, had a stroke, my AC went out and everyone is quoting $10k. My daughter had to have surgery for her tonsils, and my other one needs it too.
If you get seriously sick in America you will live (or die) to regret it. Medical expenses too high and insurance doesn’t cut it.
So sorry to hear everything you're going through! Hang in there, things will get better -- just keep doing the best you can. Sending up prayers for you 🙏🙏🙏
This, too, shall pass.
@@leinster22oh really I thought america has a nice medical system?
@@Stephen_JabsWe have incredible health care as long as you have good insurance
Because we buy things we can’t afford to impress people who don’t care.
Poor atheist. Believing materialism brings joy and happiness. And they do.?? Temporarily.!
@unclewazza777 who said anything about religion? It's not even about that at all, it's literally how people are just trying to survive nowadays and these big corporations are literally sucking every penny that we have. We need something new to happen, we need to rewrite the system with our own money by supporting small businesses. Clearly if people keep buying from these big corporations and they dominate the industries, more people are gonna hear about them than small businesses. On top of stores like Temu who sell your data(Facebook does as well), to advertise the stuff towards you. They literally put stuff on discounts to make it cheaper than it actually looks like. Big corporations make so much money that if even a group of 10 robbers went into Walmsrt and stole $500 items EACH, they'd still be making money that day, unlike small companies who would take a toll and it could ruin them.
Hey hey, there’s only the wants and needs religion here. No fighting please.
@@unclewazza777 That was foolish. Talk about having a one-track mind.
@@xpookiezx6152 Buying at local businesses, especially mom and pop shops, is something we all should do at least some of the time, even if we have to pay a little more. If you don't, you could easily lose those stores and any incentive for new ones to take their place. Happened in my small city. Everybody goes to Walmart and half the shops on our main streets are shuttered now.
After credit cards I hate the most are subscription based services. Stay far far away from them.
Credit cards aren't bad as long as you are financially literate and don't carry a balance. I've accumulated over $2,000 in cash back/rewards without ever paying any interest. The problem people tend to have, and this goes with all credit (loans), is paying only the minimum. Too many people get trapped in thinking the minimum due is all that you should pay. So people rack up credit card debt because the min due is so low.
Video subscription services are essentially a replacement for cable which shouldn't be an expense anymore bc you can get free local channels via digital antenna. Over subscribing to all platforms is an unnecessary problem. You don't need every service.
You are right - it's about working SMARTER, not HARDER.
💯 that was crazy for me to learn
Eating out is the real wallet killer.
We have 50 states in this country...all of those ppl ...just figure out how to make more money.....that the key... u can still buy what u want
A buddy was doing a questionary about what restaurants I used in UberEATS. I told him I didn't. He was confused. I had to tell him I didn't spend money on that! Unlike him, I didn't have money to waste. I eat at home!
@@nathanl.4528 very smart move
Stop printing money
@@des_smith7658 Ok then, I will. Sorry about that.
I like to think of subscription services as a pay decrease, because that's what they are. If you have $100-200 a month of subscription services, hell even $10, that's a decrease in your pay check. There's a reason why subscription services are always set to auto renew, because they know a good chunk of people will "set and forget."
Which includes utilities.
The very reason I'm off grid. Solar, rainwater and composting baby.
Can't get away from the communications sub though.
But plenty of subscription services are actually a decrease on what people used to pay. Subscribing to a couple of streaming services is significantly cheaper than subscribing to cable, for example. Spotify is cheaper than it used to be to buy one album a month, and I don't know many people who didn't do that. There are subscriptions that convince people to buy things that they wouldn't have done otherwise, like Adobe. I don't know many ordinary people who bought Adobe Photoshop for $600 back in the day, but plenty of people will pay $50 a month for the whole Creative Cloud. And a bigger issue is things bought on credit that people have convinced themselves is just a subscription. Like the 2 year phone subscription that comes with a 'free' iPhone. But for most people, there are far bigger budgetary issues than a few subscriptions.
They are fine, if you have the time to binge on gym or TV. If you have that much time, you should either be retired, or you actually shouldn't be wasting that much free time...
@@sprinkle61 If you actually use them and get something out of them, I'd agree. Problem is, most people get a dopamine hit from subscribing, use the service once or twice, then forget and just continue paying. How do I know? I used to be that person.
@@fafa1648 Yes, the value just isn't there, unless you binge the hell out of them, and most working people really shouldn't be spending that time watching old or bad shows...
People have no money because they spend too much time being paralyzed by envy and held in bondage by greed.
Yes I'd say it's probably mainly instant gratification the Internet has given us may be the culprit but that is just my guess
It can be escaped. But its harder now than it was. Big companies are tough to compete with @@Slug002
One of my realtor friends told me how often he came to a home with all these piled up Amazon boxes and junk. It’s just too easy to buy things you don’t need & also the whole “I don't save because there’s no point” mindset can be a self-fulfilling prophecy.
Also the doomsday philosophy a lot of people I know live by which is I won't live long enough to need to save. I myself was living like that until a year ago I never believed I'd live long enough to need to as well. Hard mindset to get rid of health kinda goes a long with saving $ and is probably what people who believe in the doomsday theory need to focus on before they take steps to saving. Everyone is different though @@jessicah3782
Fomo
Buying silver and gold is easy, but it is renowned for stability during economic hard times like this. The main problem is investing in stocks, dividends and even cryptocurrencies to grow your portfolio.... I’ve been trying to grow my portfolio of $190K for some time now, my major challenge is not knowing the best entry and exit strategies ... I would greatly appreciate any suggestions
Just try to diversify your portfolio to other market sectors, that way your portfolio is balanced and you don’t get to make so much losses. Also engage the services of a financial advisor to walk you through
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
once you hit a big milestone, the next comes easier.. would you mind dropping info of your invt-advisor please? i'm in dire need of proper asset allocation in order to achieve an optimal portfolio till year end, thanks in advance ..
Her name is “Annette Christine Conte” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you very much. Seeing her page allowed me to leave her a message.
You can’t be emotional when it comes to money. Think what makes financial sense.
Well, we are paying for every little thing. In the old days, no cable bill, barely a phone bill, and you only needed 1 decent job to support your family.
Well, you are living with too much extravagance to fit your measly budget 😂 "In the old days, no cable bill" - I have a heap of money just sitting in the bank, because I have no TV to watch cable on, or pay for netflix or other streaming service(s).
- Reflect on that for a second, if you will -
In the old days almost everyone who could possibly afford it got cable, and it was very expensive, especially adjusted for inflation. Today, a lot of young people don't even watch TV, they watch youtube or pay 15 bucks a month for a streaming service(probably both). Phone bills were pretty high too. When I lived in Los Angeles, calling someone in "the valley," just a few miles away practically, cost as much as calling New York. It was expensive enough that we watched our minutes VERY carefully. Now I can call all over the U.S. for the same price.
Plus cell phone plan, internet, et cetera
The US dollar is losing value due to inflation, while other currencies are gaining strength, creating uncertainty. Nonetheless, many people remain confident in the Dollar's perceived safety. I'm concerned that my 420K retirement funds may lose value, therefore I'm looking for other financial stability.
With my stressful career, I don't have time for investment analysis. For seven years, a fiduciary has managed my portfolio, responding to market situations, ensuring for effective navigation and informed decisions. Consider taking a similar plan of action.
Do you mind if I ask you to recommend the coach you employed? It seems you've figured it all out.
My CFA, 'Leah Foster Alderman', is a well known figure in her field.
I recommend looking into her qualifications further. She has extensive knowledge and is a treasure trove for anyone seeking to manage the financial markets.
Regards. her handler was simple to locate and appears to be extremely capable and adaptable. We scheduled a phone conversation.
Stop buying stuff, no matter how tempting. Just groceries! Buy groceries mindfully with an eye on sales and no junk food. Cook around what’s on sale.
You will see a big difference in no time.
We have 50 states in this country...all of those ppl ...just figure out how to make more money.....that the key... u can still buy what u want
groceries went up 200% in the last 4 years
@dionbrooks4981 "just make more money" wow solved the world's problems
@slenin8088 that's the problem...got to figure it out....if everybody figure it out ...than everybody would be millionaires...figure it out!!
@@dionbrooks4981 lol
I know so many who have bought way too much house and cars! They are stressed every month over the bills that come along with it. While we can blame some things on inflation and shrinkflation but at some point you have to take some personal responsibility and decide to alter your purchases or expectations or educate yourself so you can afford the things you want in life.
I agree with you 💯. 5 years ago we moved countries and we decided to buy rather than rent as my husband qualified for a tax break. We set a budget and had a wishlist of what we wanted and needed for our new home. We were willing to do renovations to get a home we enjoy. We could have spent double, but we kept our ego in check and we are so glad that we did. We did a large renovation almost 3 years ago and we enjoy our home. We also have small electric cars that we bought second hand with very low mileage 😊
Make under 30k a year...no credit card debt..no car debit..and even my house is paid off....worked 2 jobs for 7 years in order to pay my house off early.
Live below your wage...know the diffrence between a want and a need.
So you have no car, and walk everywhere? I make 60k a year and don’t buy anything I don’t NEED, and can barely pay my bills at an APARTMENT.
You’re the problem.
@parkerC1990s no I own 2 cars..NO CAR DEBT..I also OWN my home outright and pay no rent...I'm not the problem...I'm an example of the solution. I worked 2 full time jobs for 7 years...renting the cheapest room available..I worked..ate..slept and
Not much more in order to PAY CASH for what I wanted/needed...now for the rest of my life I can leisurely work a job I like only 40 hours a week.
@@nolongeranurse3369 so you make less than 30k and bought two cars, and a house alone? 😂 drug dealing might get you there.
@@nolongeranurse3369That guy is jealous, likely no self control 😂
@@davedsilva agreed...
Time is money…. Understanding this I choose to pay more upfront /one time and avoid subscriptions.
Exactly the more debt you have the longer you have to work
BS, I'm not broke! We're not all stupid without any financial acumen! GET OUTA DEBT and STAY outa debt (including your mortgage!) Learn to cook!! Eating out (paying someone else to supply and cook your food) is EXTRAVAGANT!
Planet fitness was the worst!!! I went through the same BS.
Good to know
I'm trying to get get of them too.
Look at the deductions on your paycheck.
Look at the tax on whats left of your check when you purchase something.
Look at the tax on things you've already paid for.
Government has become way too big and expensive.
Agree, but that's not why everyone is poor. They're poor because they don't understand living below your means.
I work in tech. If my device works, it stays. If it doesn't work, I figure out why and fix it. I order from places that offer used goods (not food) and they are always primo, and I'm not sending something to a landfill. Keeping and fixing and buying second-hand saves a boatload of money for me.
I have a neighbour who spends 450 a month on extra tv stations. Shocks me. As l have freeview ...once installed no fee's. Utube is my other TV.
That’s terrifying! I remember before streaming, we had a cable bill. My first wife threatened to divorce me if I cut it. Yep my 2nd wife thinks cable is a waste of money
This was so good!! Financial education is so desperately needed, and it really matters who you surround yourself with. If you’re surrounded by people who have “the little man can’t get ahead” mentality, that impacts you in a hugely negative way. But, if you surround yourself with people who take action and look for opportunity and carry themselves with optimism, that’s going to impact you and your outlook and the decisions you make in a positive way. Thanks Gabe! 😊
That’s what RUclips comments have become…everyone complaining instead of taking opportunities to up their income. They flock to those kinds of videos for confirmation bias…comments from their MacBook or iPhone (whatever is the new one)..while scrolling IG comparing themselves to others.
The anti-consumerism movement has been around a very long time, the 99%/ Occupy Wall Street protests were one of many such manifestations. One of my favorite reads are the works of Thoreau, an anti-consumerist from the 1800's. Even Ecclesiastes and Proverbs go into the fact that our amassing of possessions does not produce true joy.
I remember the Occupy Wall Street movements. They happened in 2011. I was living in Boston at the time, and they called it Occupy Boston. They had tents set up everywhere. I totally agreed with what they stood for and wish that the movement hadn't died out.
It's a mental disorder. Speaking of our parents, buying a house in the 1970s, it is $20 to $25k in burbank, CA. A brand new car was $4k. When knowing that people decades ago had lower inflation, it makes it so upsetting to live today, especially when hourly rates in the 1970s was $2.50 an hour. Do the math from what I wrote here to today's cost of living, buying a new car and home and it makes you want to cry, but what I am saying is the truth because I was alive at that time.
I have been saying for years how we are setting ourselves up to pay high prices by buying from companies that are out to get the monopoly by selling things really cheaply. In Australia and I’m sure everywhere else big companies with lots of money behind them come in cheap and pop up everywhere and push out the little shops, then when the little shops are all gone prices skyrocket and we all complain. An added layer to that is they all sell the same items because they are cheap for them to buy in bulk and we all end up looking like little clones of each other or having houses that are all decorated the same and we lose our choices and individuality. It’s the same with online purchases allowing you to be able to return things that don’t fit etc for free. Once they have the monopoly and you can’t go to a physical shop because they have had to close due to not being able to complete with the online stores low overheads free returns will stop too. Then everyone will complain about how things don’t fit because you can’t try them on but it costs a fortune to send them back. 🤦🏼♀️We are buying into this ridiculous way of living and before long it will be our only choice.
Very on point re what Amazon has done. Prime used to be pretty cheap, but now that Amazon owns retail, the price keeps going up and up, and now they want an extra fee just to not run commercials -- on a service that used to be commercial-free in the first place! Once they've got you, they've got you, and they know it.
90% of the crap you buy you don't even really need. Just stick to the basics like milk, bread and eggs.
That’s it kids! We’re going to subsist off of egg sandwiches and milk and I don’t want to anyone complain about it!
Beef butter and eggs for me! I have 23 hens.
Totally! A carnivore diet saves me money and satiates
@@mikecarlton6297 eggs bet your all farting like hell lol
Chicken, Rice, Eggs, Milk, and Berries. its all i need and it covers all my micros, Fair Life is great.
It's also a lack of financial education in the schools. Schools intentionally don't teach us how to manage money because the modern education system was created during the industrial revolution.
Absolutely. We are not taught money management because we are meant to be slaves.
Very true
That’s a simplistic understanding. You can do Better
THIS. I own up to everything I have done in my life. But, I will also say that I had basically NO financial education for most of my life and I had to learn things the hard way only after enduring the consequences.
I not only learned it in school, but on my own with books. It's a shame people don't want to learn on their own.
I really needed to see this video to start being honest with myself about my spending. Thank you
Good to hear that it helped !
I'm favoured, $130K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America.
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
She is really a good investment advisor.
I was privileged to attend some of her seminars, that's how I started my crypto investment
She is really a good investment advisor.
I was privileged to attend some of her seminars, that's how I started my crypto investment
I have heard a lot of wonderful things about Sonia Duke on the news but didn't believe it until now. I'm definitely trying her out
Started with 5,000$ and Withdrew profits
89,000$
You are spot on about younger people thinking they can spend as much money as older people. I'm relatively old- 50- and I am just now starting to spend money, even though I have been making six figures for 25 years. I was still driving an old 1996 Honda Accord until a few years ago. Once I saved a 7-figure nest egg, I sold the Accord and bought a fancy German car that is paid for essentially by the interest I earn on my savings account. In fact, with interest rates as they are, the interest I earn is almost enough to pay my mortgage. But until 10 years ago, people looking at me would have thought I was barely scraping by.
Well done indeed!
You think 50 is relatively old? I just turned 55 in June and I still feel like a teenager. 50 isn't old unless you live a lifestyle that makes you look and feel it.
@@josebro352 A lot of that depends how physical your work and the rest of your life is. We all age out of many things eventually. And even if we can still do them, recovery time increases noticeably.
@user-ps1ft1hy4j I agree to a point. Not sure if you've heard of Cambridge, Massachusetts but it's where Harvard University is located and it's a pedestrians paradise. I just walked from one side of it to the other side yesterday. Took me two and a half hours. I'm 55 and it makes me feel like I'm still in high school. Just keep active and eat a lot of fruit l guess. Thanks for your reply.
@@josebro352 I do a very physical job that a lot of people in their 20's have trouble keeping up with, and I usually do it as well as they or better, sometimes much better. But I think they feel less sore and simply worn out than I do before, during, and after. My secret weapon is that while some of them quit and some of them get fired, I show up every day. And I've already long taken it for granted that life is tough.
They did warn us though:. „You will own nothing and be happy“. People were brainwashed into believing they didn’t mean it like that 😂
Being broke is a choice, it will become unbelievably terrifying should the globalists make it compulsory for everyone to be broke.
A lot of SCAMMERS on here talking about VALSKOV. I guess they target RUclips videos that are likely to be watched by people in desperate financial situations.
LA Fitness was the worst to cancel. Not only did I have to go into a location to get the cancellation form, then you have to mail the form back to corporate. You can't just give it to the location. I ended up paying a year longer than I needed it.
Houses are 55% larger than in the 1980s. People could survive on 1 income if they had a smaller house, lived closer to work so they could walk, bought older used cars instead of new $50,000 cars with $700 car payments on average and also cut all the subscriptions.
We have 50 states in this country...all of those ppl ...just figure out how to make more money.....that the key... u can still buy what u want
I have ZERO subscriptions. No streaming services. Rarely eat out - 2-3 times a year - maybe. And when I do because it's a social gathering - I feel ripped off.
This seems like the worst period. Even the market are now very unpredictable. Started investing recently when the market prices were a bit high,today I am more than 60% down!..
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Lorett Logan
I agree just reached my goal of $500k monthly trade earnings. Setting realistic goals is an essential part of trading.
You trade ?? Wow that's huge, how do you make that much monthly?
logan approaches trading in a completely unique way. I'm puzzled by her methods. She just seems to have an innate understanding of this trading world
I'm new at this, please how can I reach her?
“learn or upgrade high value skills will improve your wealth”. Thank you for reminding ⭐️
Absolutely!
I really appreciate the dedication in each video you post. Building a steady income is quite difficult for newbies. Thanks to Natalie Rose Strayer for improving my portfolio. keep up with the good videos.
I'm surprised that you just mentioned Natalie Strayer here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
Natalie Strayer has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
I'm new at this, please how can I reach her?
Her good reputation already speaks for her .I’m also one of the beneficiary of Natalie Strayer. So happy I gave it a trial after being skeptic of the process.
Sure! She interacts on what's App using the digit below 👇
When did simply "working hard" ever get anyone where they wanted to go? Never! When people say to work hard, they don't mean to dig ditches in the Texas heat all your life.
But it's true. Working hard, long hours doesn't get you ahead. Lots of people working hard at McDonald's and will have nothing to show for it. Hard work has to be paired with marketable skills. Hard work alone doesn't get you anywhere.
@@runningfromabear8354 Agreed. Part of that "hard work" is finding opportunities and getting the knowledge and experience to make yourself more valuable. Anyone can work a shovel - it's blasted hard work (I've done it, it's not fun) but it doesn't take a lot of effort to figure out how to do it. So I wasn't worth much per hour as a shovel operator. When the boss found out I knew how to work with Excel (I was a comp sci student working construction as a summer job) and I could sort out his expense tracking spread sheets he thew money at me and practically begged me to take the job. That was hard work too of course but much more rewarding.
This is a great video I really appreciate the dedication in each video you post, I learn a lot watching your videos and it has always been helpful to me. Building a steady income is quite difficult for newbies.. Thanks to *Dale Valskov* for improving my portfolio. keep up with the good videos.
This is an incisive and well presented video. Inflation and shrinkflation always disappoint me when grocery shopping. That and the unfortunately very common habit of "treat yourself" is impacting my income. Will try to stick to a budget as you suggested 😊
Glad you enjoyed it! I’m he whole treat yourself thing really makes like hard for a lot of people
Easiest way to stick to a budget is to hard lock your spendable balance.
Automatically throw a huge percent of your income into investment accounts and make it work with the rest.
Can we get this video to 10k likes?
I'm number 29 like😂
YOU ARE SO SMART YOU TEACH THIS OLD WOMEN A LOT
To say you need a side hustle to get by in "most" American cities unless you make $200K/year is absurd. You're talking about a few very expensive cities in CA and NYC, and not much else. In the vast majority of the US you can live very comfortably on $100K/year.
The most important thing is to have a budget you stick to. Also do an annual review of your spending. Been doing it for a decade and takes about 5 minutes of work each day. I know exactly I can spend and can plan for huge life events such as having a second child with some quick mental math. Keep things simple and automate everything related to finance as well such as paying bills and investing. You'll be wealthy slowly but steadily.
I’m 29 and have just over 700,000 dollars in savings and investments. How? I drive an old and beat up 2013 Toyota Prius, I live in a small but comfortable 1 bedroom apartment. And I aggressively invested almost every dollar I made that I don’t need for fixed cost since I was 21.
The best part about it is once you pass 100,000 the growth kicks into high gear and your investments begin to pay you enough to fund the things you love to do. Even though I invest almost every thing make from my 9-5 my investments pay me enough dividends to travel, go out, party with friends, and everything else I love.
If I can do it you can do it.
Well done - you should be very proud!
Can you reveal any struggles you faced, such as sacrifices you had to make for the betterment of your goals?
@@matthewduffy1748 He drives an old beat up prius and lives in a 1br apt. It's all living below your means, that's the sacrifice. I did it too and was a millionaire by 30. It's very doable, but most live way beyond their means to keep up with their broke friends.
Just wondering if you have any kids? I will be shocked if you have any because they will just burn through money
Daddy got you the initial 100K at 21, you’re a made man now, but go posting here 😂 love it
@@fireat40 Kids only burn through money if you throw money on the fire for them.
They are an increased cost, but if you live frugally it pencils out to far less than people assume they cost.
This, of course, is assuming nothing goes catastrophically wrong medically
Its simple - people have no financial discipline. The instant gratification culture a deleterious effect on good financial (and life) behaviour.
Yeah it’s every person in the middle or lower class fault and not late stage capitalism… *pulling bootstraps*
Always click on these videos, always feel depressed after 2 minutes
I had take control am responsibly for my own finances.
I plan
I pay myself 1st
I give
I save
I budget
Working great.
Its about to get a lot worse too. Along with extremely high inflation the government is about to raise tax rates. They really need it because somehow they are running out of money but can somehow give trillions to ukraine.
Ukraine, Israel, basically anywhere but their own people and country.
They are just stealing that money from the tax payers to launder it through those foreign countries so they don't care.
@Madchris8828 Been that way for decades, though. It's nothing new. In 2024, it's Ukraine. In 2003 it was Kuwait. In the 80s it was Lebanon. The US has always been this way.
@@josebro352 yeah sadly you aren't wrong
I retired when I stopped buying! While raising my family I sacrificed by working multiple streams of income instead of blaming others.
ITS THE ECONOMY AS A
WHOLE!!!
People lose money cause the system is made for rich to be richer and poor to be poorer...
You have a point, but the majority of the blame goes to government and corporate greed. People are paying 12$ for bread and eggs. So not so much "consumerism"
Some people aren't in the system of consumerism. I was in grad school working full-time when I was diagnosed with stage 4 cancer. I couldn't work full time anymore. My healthy nest egg was depleted to pay my mortgage and living expenses. Thankfully, I was able to graduate, but it took mental, physical, spiritual, and financial strain with treatment etc. I ended up qualifying for state medical insurance as a perk of having a terminal illness, than paying >$20000 a yr to live.
So there are folks are doing the right things, but fall into unforseen circumstances. On the surface you may pass them and think all is well, but some folks are really going through it.
The opening remarks reminded me of Niccolo Macchiavelli's quote "But above all he must refrain from seizing the property of others, because a man is quicker to forget the death of his father than the loss of his patrimony.”
Patrimony? What's that?
Once upon your time you'd buy a cd and that's it. Ugh now we have to subscribe for everything.
My expenses since the year 2020 has jumped from 7000.00 to 12000.00 a month My mortgage is only 1200.00 and will be paid up in 8 months.our Walmart bill a month has jumped from 1400.00 to 2500.00 since 2020. Crazy!
Yeah, if a company says you have to cancel in person then I would just tell the credit card company that they are taking my money without my approval.
At 38 I researched real estate inheritence & bumped into basic investing. Free gov money(😷) I never spent helped a lot💸
A fool with money is soon departed.
A number of things he touches on highlight the importance of not just anti-monopoly laws, but of those laws actually being enforced. If we're going to have a market-based economy, there needs to be an actual marketplace, not just one company who drove all of its competitors out of business by hook and by crook.
Really informative! We need to help everyone with good financial habits
The age comparison is right on. Young people think they deserve the lifestyle their parents have acquired over decades.
agreed! like another tactic is not being able to find where on the website you should cancel its ridiculous
I disagree about being able to invest your way to be a millionaire. Let’s say you have 100k just laying around (unreasonable assumption) and you invest it so it gets you yearly 20% (even more unrealistic) for 10 years in a row (you guessed it).
Even before inflation and cap tax it won’t get you to one mil. I would say that is another lie people are made to believe that investing what little they have will make them rich.
To get big returns from investment you have to start with big capital in the first place.
Add to that the fact that everyone in every service expects a tip.
So to summarise, certain companies have killed off the competition and become monopolies. We are in late stage capitalism.
He just said work smarter not harder this is great advice. As a Gen X the advice my parents gave me was similar and effective in that time "you can work more hours or you can work for more per hour, the first will kill you" I started with that advice at 17 and eventually am working in to this advice as the first got me here but I need to take it to the next level.
Most people have a pathetic consumer driven life, adopt minimalism, focus on saving for bad times because sooner or later, something bad will happen.
I thought it was pretty easy to cancel my planet fitness membership but I didn’t move so I can understand the difficulty.
The worst lies are the ones we tell ourselves.
Went to return my T-Mobile Internet to the store...They would not accept it. Oh well, I tried, now they send me letters etc...
I just want to live in a cash world again, . No more loans from banks....no more. I bought an Office Space DVD at a yard sale for cash. Life is good.
tHanks for the video
Children need to learn personal finance and the value of their money when put into investments. I rarely eat out, but I did with my wife the other day and the bill came out to $80. I about cried when I realized that is half a weeks worth of groceries for breakfast, lunch, and dinner for the both of us...
An easy way to cancel a recurring subscription is to put a freeze on your card until you work it out.
Lifestyle is a huge factor. No... You don't need a vacation. You need to earn the money to pay for a vacation and not just put it on a credit card. And 750+ a month for the average car payment is nuts! Buy used and save a ton. No they don't cost 750 a month in repairs.
Thanks for the chuckle at the end. 😂 I so value your content, thank you for so consistently delivering meaningful and wise counsel. ❤
Glad you enjoyed it!
Truth! I have a few monthly subscriptions' but others I will do the trial but use a new virtual CC number that is set to expire before the next billing period so they can't charge me again if I don't want them to.
GABE! The text negative is FREAKIN' AMAZING !! can't wait to see the rest as I'm only 8 seconds in :)
I think one of the things that keeps people poor is this fascination and desire for travel. I dated a woman had to move back in with her parents because she could no longer afford her rent. Not but one month after she moved back in with them, she booked a trip to Cancun for a week. If I was her and had to move back in with my parents, I wouldn’t take a trip until I could move back out again. I’m also not that interested in traveling and vacations, but I’d hope that people who have little money would refrain from spending on luxury items such a vacation.
Easiest way to avoid paying for subscriptions after the free trial is to set a calendar or todo list reminder to cancel 3 days before the end date. I've been doing it for years and have never accidentally missed cancelling a free trial before getting charged
Arent all subscriptions going on the whole free trial after cancel? I always cancel at Netflix/PsPlus after paying and my monthly subscribtion still goes until the end even if it was on sale.
Great video. Definitely sharing this with my adult kids
Debt is like a cig you just can't stop. Broken down people looking for a low cost coffee shop. All in a daze my 401K is on a lazy day! No raise and lay offs. The boss is playing card games on the computer in the office. Mop the floor. Clean the bathroom. The last of my account is in the stock room! Modern society is for the birds, I don't have enough money to buy cheese curds!
Honestly, someone should start a class action lawsuit against planet fitness
EU law: cancel a service must be the same way as to ordering it.
The subscription service has gotten out of control. There are products out there that have NO BUSINESS being in the subscription service space. Serato, Adobe Photoshop, Video Games. just to mention a few. But there are a ton.
Great content and very informative. Thank you
I remember when I first got a job in 2005 and doing the math with a coworker that cooking and bringing your OWN breakfast and lunch would save like $3000 a year now it's probably way more.
It amazes me that people try to find financial security by going to a gambling Casinos or buying thousands of lottery tickets. It's reported that 500,000 people a year file bankruptcy because of gambling debts. A friend of mine in his late sixties was still working when I retired because he mortgaged the house in a failed hope to regain his loses. His wife refuses to let him retire until they are out of debt.
The fitness industry needs to be called out for this. As instructurors you are charged first of all to get your qualification in American rollers hundreds of dollars and not told until you complete the coarse that every month for the test of your life you will be charged to remain liscensced if you do NOT pay this monthly 75 American rollers (no matter what country you are in so also have fees) if you do not oay this amount you have to go back and do the entire coarse again so you are officially signed up to this monthly for the rest of your life JUST to teach the class and the class pay per hour has gone down so it does not balance out.
I feel that the last bull run was bolstered by all the money being printed. Major returns next bull run but I think they will be tamer in my humble opinion. A 10x on *Dale Valskov* and a 15x on polygon are fair considering how much those two coins are interwov
I had to cancel my spotify subscription. I was sad, but I hey, I realized I could survive even without spotify.
I think it's definitely lack or no financial education in grade school. People are starting out almost too late now and fortunate if they're on the right path. My parents didn't teach me anything about finance nor did my school. Had to teach myself most of it.
I worked for corporate during the lockdown at Planet Fitness in PA. Oh they make it so you can't cancel your subscription on purpose. I was in on those corporate meetings where if people wanted to cancel, we were told to tell them they had to speak to a store manager but, the managers were told specifically not to be in the store so the customer would purposely pay for more months. People sued "PF" during the lockdowns. And should have. I'm listening in those meetings and was like "this has gotta be illegal."
If you're going to cancel the subscription do it like the day after you sign up when you remember as it will last until the end of that month anyway, or set a reminder on your phone.
There are so many traps that keep people broke:
--Having kids before you can afford them. This is the biggest one no one talks about.
--Highly processed foods that make us sick and dependent on expensive drugs.
--The culture of eating out / spending money to do things instead of just going to the park, playing board games, cooking at home together, etc.
--Consumerism and subscriptions are certainly a big part of this, but the above two aren't talked about enough.
--Young people being brainwashed with the idea that college is the only way and just take out student loans, no matter what the cost.
--Just in general, it seems like in America the blind are just following the blind. If you just go with what everyone around you is doing, you will likely be broke.