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Minority Mindset bro i earn 1000$ a month and i have a 50000$ loan ,costing me 500$ a month in interest. should i repay the loan or invest in seeds Please reply
1. Don’t broadcast your paycheck. It only makes your friends ask for favorites. 2. Do not gamble with it. You will not be the next gambling millionaire. 3. Don’t spend it on stupid things. Plan out your spending. 4. Don’t spend everything too quickly. Have a plan for your money. Do a budget. 5. Stop listening to sales people. This is actually more like one thing not to do on payday, and four things not to do in general.
Funny thing is I have a friend who hasn't learned that first rule...... Seriously, she'll text me that she won 500 on a 20 dollar lotto ticket and my automatic response is........ Great, where's my 480...... I never let people know when I come into money...... But I make sure I can get all my expenses paid and treat myself from time to time when I've planned out making the expense......
Well my brother is a professional poker player and has cleared 150k a year some Years lol , sure he spends some of it back on poker ! But let’s be honest gambling isn’t the worst thing if ur smart About it
Got paid today.. paid my two credit cards.. set aside money for the house, utilities and food.. sent a chunk to my savings.. got $200 left for the next two weeks for gas and miscellaneous stuff.. Now waiting for my next paycheck 😭😭😭
most parents don't know this stuff to tell their kids. thank goodness common sense is still alive! and thank goodness someone has enough brains to put it out on YT.
Lol... sucks bro, maybe you can bring them back? Rayban are nice sunglasses to you know and alot cheaper. I didn't pay for them though.. Im not that crazy.
Man dont feel bad! You will have hella quality sunglassses and what i mean is QUALITY. In my opinion you shouldnt save money off of your eyes´ health. So investing in a good quality, long lasting pair of sunglasses is a good thing.
Anubis ... they ARE super nice though.... when I put them on everything turns HD and the tint is perfect.... comfortable, and they not only block the sun but it's like they improve my vision..... they're awesome
I save around 50% of my income, and i don't set myself any rules. I buy what I want when I want, I just don't want a lot, I'm happy preparing my own food, exercising, and having a few beers with my mates at the weekend. The quality things in life are either free or cost very little. I'm not saving for anything, just there's nothing more i need to buy
I feel you fam. I bought basically everything that me and my wife want(we don't want for much.) and so now all our money is basically just food, gas and savings. It's not a bad way to go and we always have money to hang out with friends. :D Sure there's the every now and then emergency, but still on our way to a successful retirement with all the amenities. :D
you sir have the right balance imho! too many people focus on what they think is "rich" and actually have NO CONCEPT of it! whats rich? $1 mill 2, 5 10? and whats it for?? Money should be a tool for HAPPINESS and nothing more. if you look at it for more than that, it cannot help you and will not solve your issues. Well done to you. Keep on trucking and stay happy!
In my humble opinion, it's none of my business what you earn, but you simply manage your 'needs' well and probably earn a fair wage, but in this instance I would say ultimately you have a pretty sensible constitution, and I think it is telling that you intimated that there is nothing more you really 'need', good on ya, take care and be well.
+Charlie Brookes I feel you on that. I'm a university student, and are doing the exact same. I also have one rule for myself: Don't buy anything that gets my bank account under 1558,10 USD (10k in my currency), as I might need it one day for an emergency.
Hi from the UK. If you're watching these videos at 16 you're already ahead of the pack. WELL DONE ! Keep on educating yourself about money. Then trust your instincts. Best wishes. John.
Jesus. I used to walk around with over $1000 in my wallet always in 50s. Ended up stretching the leather or something and it would take like nearly 2000 in the end. I come to realize I would loose a bit if I lost my wallet so now carry only about 300 at a time.
My beloved father's advice (1)Pay yourself first(save a little, that meant,no matter how small, do this first& don't touch it) & (2)give yourself a little reward each payday (don't go crazy here)
@@spitzkopf2128 I kind of took this principle to be applicable to things which are non-necessary impulse buys. A good example would be when around last year I bought a new ipad pro. I had not started budgeting and was failing to save money, and also had a functional laptop so the ipad wasn't something I really needed as such. I don't think the principle applies when one has specifically saved up to buy something they need. But the money I spent on the ipad could have gone towards paying of a loan or something. I now have an emergency fund and some savings (not up to a point a point I want it to be, but good enough), and am saving up some money to buy a new phone just in case my current one dies. I def won't have enough in my savings to buy 5 iphones lol but regardless, I'm saving up for it. What kind of things came to your mind after hearing that statement? Just curious!
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly|
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Whichever firm you select, make sure you get your insurance from a reputable financial adviser, such as *Jenny Pamogas Canaya,* who has dedicated her career to financial planning. Because they will assist you in escalating, navigating better, and completing the task in a safer manner.|
Yeah cuz i rather get a luxury car, drink in bars, and gamble my money, just so i can enjoy my life! Let's be real, a girl would want to go out with someone who sits his ass investing in stocks and bitcoin and owns a 97 honda civic? OR someone that has a BMW and makes 1K a month and spends his paycheck buying gucci?
WooferJr wow, good luck getting rich. Girlfriends are a bad investment in money, fuck that. The 2nd guys a loser while the 1st guy will soon be rich on his investments and job and the savings he’s done over the years
I always paid with cash.. then I got Married she opened a line of credit under a joint account.. becous of my credit.. long story short she's gone and it took me 13 years to fix every thing.. "don't trust a big but and a smile"
I don't get why people use credit, especially in the US where interest rates are made to make you a lifelong customer, not so you can eventually pay off your debt.
"If you can't buy 5 of them you can't afford 1 of them" That was very profound and I really like that. I think that will always be in my mind, unless its an engagement ring or a house...
I'd say it's still sound advice. Look up the probability of getting divorced, and the probability of another and another... and pretty soon if you can't afford 5, you really can't afford 1. Movie stars go through the wringer and keep on going, average Joe gets trashed after 1. For the house, well I lost my job shy of three years into a 10 year fixed mortgage, buying what I can afford and having the cheapest house in my area means I've got a roof over my head and time to plan. Thinking on the ring, I've heard it said to put down 2 full months of salary (which probably translates to 4 - 12 months free cash) 2 months salary times five is still less than a years salary. If you don't have a decent pile of cash, new expenses (wild guess...) and emergencies will destroy you, real love doesn't last long in the face of zero cash, bills, debt collectors and constant arguments.
I think a car should be on this list as well. I just paid cash for a 35th anniversary edition mustang GT and I couldn't afford 5 of them. But i did buy a 2nd parts car for like 400 that is totaled that runs and drives and it has a borla exhaust that I wanted to buy. To buy the same exhaust new would cost me 846 dollars. So i have lots of other parts in case i need them or i can sell them and make profit. the same motor and trans on ebay is like 3,000 dollars. I'm thinking of parting it out. I still have like 800 dollars cash left and no credit cards or bills that need paid. I'm putting it back for a rainy day in case an emergency comes up.
Philippe Perkins the engagement ring is literally useless, it's a tradition created by decades of marketing by the debeers corporation that has a monopoly on diamonds. Break the cycle. Fuck the ring. Buy her something useful if she is gonna think you're cheap.
This is good BASIC financial advice, but I'm going to add. 6. If your broke, don't buy a used luxury car. Just because you can afford to buy it doesn't mean you can afford to own it. (insane repair cost) 7. Rims you buy for your car should never exceed 10 percent of the value of your car, and should never ever be more expensive than the car itself. 8. Stop cashing checks at check cashing places, get a bank account and you get to keep all of your money. 9. NEVER *EVER EVER EVER* take out a payday or title loan. These loans literally equal "OK I'll lend you a $1, you pay me back $667 next year" 10. Avoid buy here pay here lots that do "special in house credit" These are car repo mills, with horrible cars, and interest rates.
janereaction same! Sometimes I’ll even put “too much” towards loans as soon as I get my hands on it. Then I regret it because I have a hard time paying for other very important things 😩
Exodarion well they are brainwashed. If everyone was smart then everything would have to be free. Because we wouldn't have heart to charge someone for something. So we need dumb and stupid people to do business. Have nice day. 🤝
*Exodarion ---* I'm amazed at that too. When I was in My 20's I had older friends 30s-40s that never had a bank account, didn't have a clue how to budget their money. Their parents never showed some of them how to do anything other than to just go to the store and shop.
I used to think this too. Over time I realized that people value material things more than financial stability. They think that buying "things" (no matter how much interest they pay) gives them happiness, but they don't realize that it does nothing for them. They simply don't think that they can have both, so they don't try.
i am not a minority but this man is wise and is woth listening thank you for helping me get a hold of my finance what really helped me is getting rid of my bad habit like drinking alcool and energie drink and weed the amount save by years is a lot
Ed Esteezy your advice of not paying them is the stupidest thing I've heard. You know you don't pay off your loan at your convenience right? There is something called interest. The longer you take, the more you pay. If you don't pay up, they'll start taking your valuable property to try and pay off your loan as much as possible.
Mellowman468 you are right, these days every degree is slavery. People think they will be rich when they graduate lol. No. The person that works at McDonald's and you who has degree no difference. You will be balanced with your money thats it. Probably person that works at McDonald's will have more cash or money in general in their pockets.then you having degree lol Its all your choice. Most people figure this out AFTER THEY GRADUATE, YOU NEED TO FIGURE OUT WHILE YOU IN COLLEGE OR BEFORE YOU GO SO THAT WAY YOUR DEGREE WILL NOT PISS YOU OFF INSTEAD IT SHOULD MAKE.YOU VERY VERY HAPPY. BUT MOST PEOPLE ARE MISREABLE AFTER GETTING THEIR DEGREES. GO FIGURE. HAVE NICE DAY
Oh my god this is crazy!! Minority mindset I can honestly say I began watching your videos since the first couple of ones when you had about dozens and dozens of views off an ad on Facebook. Now you have hundreds of thousands of subscribers and millions of views?? Amazing man keep it up
Classic blame others for your problems, no car salesman is making you buy a car. Just giving you all the reasons why you should want it - it's up to you if you want to decide to go into debt or not.
“Buy with cash”. Best advice. My parents only paid cash their whole lives and had no debts. However...during COVID lockdown, we can not pay cash (shops won’t accept cash). During the lockdown, we must shop online (except groceries), and they only accept a credit card (I think). Another you-tuber says that when she pays with credit card, she then immediately transfers that amount from her bank account to her credit card account. Very informative video. Thanks
Good video man! You're addressing an area that really needs brought to the attention of just about everyone. I'd say it's borderline criminal (either negligence or intentional) that there isn't wayyyyyy more financial based curriculum in schools (from taxes to retirement saving to investment planning to budgeting etc). In Canada I think it's like 95%-97% of people will not be able to retire independently by 65... that's disgusting. So good on you man for getting some knowledge/common sense out there on the topic.
A relative of mine whom I worked with for several years told me a story when he was giving me my first paycheck. He'd given half of his first earning to poor people on the street and two years later owned a big business.
When I was 18 and out of school. I was working a 9-5 job 6 days a week for $590/m. Started doing my own budgets and stuck to it for a full year. Ended up with $1200 at the end of 2015. It's now nearly 2019 and I have almost $4500 just off cutting out small things per month and putting my leftover money with the savings money. I recently quit my job and started doing other people's budgets for a small price. Sure I might be getting less money right now, but I'm completely happy with what I do at this moment.
Khaled Sahbi, no, I beg to differ. Sikh are very liberal with their belongings and a bit extravagant as well. Try a "Baniya" or "Marwari" for money related affairs.
Patrick Gonzalez , that's why. We know how to make most out of what we get. P. S. - none offence taken on being "low on money", but poverty and richness is not much dependant on money.
I wish more people thought this way, it should be common sense. If you can't afford to buy something, why go in debt to get a status symbol? The only acception being mortgage for a house.
That's actually very insightful, never thought of that. If more people held onto their money instead of having the mentality of "I got my paycheck, now I can buy this!", it seriously would damage the economy.
If done right, taking a mortgage instead of renting results in more value over time. If you're renting and investing rather than taking a mortgage, your value will be a bit less than taking the mortgage. In most cases, interest on debt outweighs interest on investing. But in this case, you actually make a bit more in the long term taking on the debt.
Love this guy, reminds me of my brother when I was about to buy something I shouldn’t, and when he taught me how to say no to an experienced seller trying to sell something to me that I shouldn’t be buying. Great episode, thx.
If people got smart then every shopping mall in America would cease operations and the economy would collapse lol! Think about what a shopping mall is: women's clothing, women's shoes, women's jewelry, cellphone kiosks for grossly overpriced services like AT&T and Verizon, and a food court to feed the women shopping for clothing, shoes, jewelry, and cases for their iPhones. It's like the entire economy has become dependent on people being stupid with money. "Back when I was a kid" a mall had a variety of things like pet stores, arcades, book stores, music/vhs/game stores, hobby stores, and other fun things. Now they are nothing but crap.
Heebsen what the fuck does that mean? You said you saved 8k and that guy told you "that's nothing you should be making at least 20k per year" what the hell are you talking about when say "do the math"? What fucking math?!
Cash RULE, no cash, no spending. First thing an individual should do with their check (payroll), "PAY THEMSELVES" Take that money, invest it. Invest it in a preferred investment of choice!
Mark Armstrong I used to be like that... until I realized how bad fiat money is. Better to invest as much income as you can, and only keep a bare minimum for an emergency fund (e.g. 3 months food + rent), then to have your money taken away from inflation and other sources.
Hahaha “a stack of singles with a $100 on top,” love it, well done! Common sense isn’t very common these days. Too many people make decisions based on emotions instead of logic and they almost always pay for it in the end. Love your channel Jaspreet, keep up the great work!
Jorge Rivas For me to not live month to month is to have no debt except reoccurring bills like electric etc. It means having at least 20k liquid in my checking to fix whatever needs fixing w/o using credit. Yearly bills like taxes and insurance are completely paid when recieved. No month to month. It means no auto loans and no mortgage. That's what you call good living!
The greater the passive income you can build, the freer you will become. Taking the first step is the hardest, but 7 houses later living off passive income. You’ve got to start taking steps to achieve your goal.
All passive income ideas work as long as you put the work in. I focus more on cryptos, NFTs, real estate crowdfunding and IDOs. With the assistance of a financial consultant, I’m doing well for myself.
I'm just coming across these videos now, and you give solid financial advise. I'm not wealthy. I just get a small disability check each month. But I watch my monthly expenses and have built up my savings. And that makes all the difference in the world. I don't have any credit cards and don't want them. If I need to make a large purchase, I borrow the money from my savings and pay it back. Like I would the credit card company but with no interest or penalties. Someone from my bank was trying encourage me to get a credit card, and I asked why I would need one when I can finance my purchases myself. In the past, I did pretty much everything you are talking about wrong. Aside from gambling. And now just making these small changes in how I handle my money has been completely life changing.
Here's my problem. I once had a tangible asset as savings for about 13 years. I sold it for 100% return on it (10% return on it annually) prior to selling everything I had for moving to India. In 2005, I started learning about how the western monetary system works to keep everyone else down. Since then, I worked to protect myself financially. 5 years ago, when I left my part-time retail job to travel my home state to find work in an entirely different line of work, I cashed out my 401K, since I knew I wasn't going back into a company that would let me stay there long enough to get it again. I roamed and looked for opportunities for all those years and ended up with nothing. Well, not exactly nothing. I was able to find odd jobs here and there, enough to pay off a number of bills, but I could never really get a handle on it because I couldn't find stable work long enough to pay NECESSARY bills off. Fast forward to India, where my cost of living is so low that I am paying off my medical bills of $12,000 from January/February This MONTH. Not possible in the USA under my circumstances. Now, what I have is some money to save it. We must take in consideration some things. I am 52 already and am largely unemployable for anything more than retail jobs and office work, both of which I hate with a BLACK PASSION. Secondly, I have a fixed income from the USA that is more than enough in India. Thirdly, I am not looking to make a few million dollars, as what would I do with it? The fact is, I ought to save as much as I comfortably can for the next 15 years, and then draw down on it for 15 years after that. Or, maybe take it to 20 and draw down on it, as I don't see myself living much beyond 80.
I needed to see this. I'm a dumb spender myself, a RUclips video is telling me to be smart. Not playing casino or lottery. Check. Not showing the world my paycheck. Well, that's something I should stop telling the squad. Oh, and as for the five rule, yup, I definitely need to change that habit.
Check out the channel charisma on command. They have a great book, a wide range of charisma tutorials and analyzes on what single things make charismatic celebrities or fictive characters so charismatic.
Before I started my working life my Dad told me to use every program to save money for bad times and retirement. Despite some expensive mistakes and a couple recessions, I was able to retire (comfortably) at 57 (I'm almost 62). ;-)
i’m 18 and pretty much been saving the majority, keeping a portion for spending and use the rest for my bills and paying my student loan... i thought this was common sense lol
You have the best videos on youtube about money management- I can relate to them, great tips! Thanks you are doing great work, I become extremely frugal when I don't have a job.. Growing up, we were taught early on Save first spend later..so keep the money aside that you plan on saving/investing and now plan your month with money after savings are done, so that you are always ready for the rainy day..Great relatable and useful content.Thanks
Sometimes I look at the other people in their mid 20s around me living paycheck to paycheck and I am like....Am I the only one that figured out putting 25% aside every week ends up in the end allowing me a bigger lifestyle later on? Saving account has a big penalty every time it is used sure...but I touched it twice only since my 18th birthday for emergencies. I mean I could live off for a few years at least with the money now. And it keeps growing every week and interests are going up and up. Made the math and at this rate I could take an early retirement at 45 and still have leftover for when the retirement money kicks in. Paycheck to paycheck till 65ish with a poor retirement or living below my financial means, skipping expensive purchases and restaurants to retire at 45 and live comfortably doing my favorite hobbies till the day I die? I made my choice. Sure sometimes I get eyebrowed "but dude you can afford it with your salary!" . Nah. I'll skip the expensive filet and crab. I will buy that cheaper cut and noname brands and have a smaller home with less expensive furniture than I could buy. The reward of retiring young and healthy is well worth it in my mind. -Signed a 26 years old thinking ahead.
Sensai Zircon Thanks for the extra knowledge. I'm definitely taking heave of that. But bro where not alone . I been living in my apartment since I was 18 .no social media and barely going out to fast food. saving and taking care of my son saving for our future. Now about to be 21 best years of my life making homemade meals and grilling. living comfortable with the mother of my child. You give me hope for this world. Keep doing you boss
Yeah exactly for example. I know alot of second hand stores that have really good quality furniture for extremely cheap. Only reason people don't go is cause "Its not brand new" "It looks like old 1940s - 90s furniture" If only they knew how gorgeous a retro style house can be for really cheap.
Just invest in an index universal life insurance that has your money growing at 15% max and be sure your money is working for U. Banks won't grow ur money even up to 2% interest.
Thank you so much for all of your insights! I feel as if I'm making no progress in this type of stuff but I want to remind myself that being aware is part of the process!
Thanks Jaspreet for the video :) And for the Ebook, I just downloaded "Get Rich(er) Sleeping" a week ago and am really looking forward to seeing the results of applying the principles. I am 17 years old in College and have been saving 95% of my income for the past two months and will be putting it in a "seed" next month. I'll be sure to let you know how it goes :) Thanks again Jaspreet :D
5 Things Not To Do With Your Money 0:44 #01 Post On Social Media That You Just Got Paid 1:35 #02 Gamble!!! 3:06 #03 Spending On Dumb Things 3:37 #04 Be A Cliff Spender 4:25 #05 Listening To Sales People
4:03 bro, excel spreadsheet? That's so 2015. In 2017 people use apps to track their income/expenses. It's saves you time that you can spend into learning to to make more money. ;)
Minority Mindset I like doing it on Excel because as an Accountant, we use a lot of it in the office and are aware of complicated formulas. I also like the privacy that comes with it unlike apps where you need to provide a lot of personal info.
I used to think the same thing but nothing beats the simplicity and flexibility of Excel. No matter how many other tools or apps I've used, I still come back to it.
Berendsen That's just the way most companies operate. They pay employees every 2 weeks. However, I work for the state of California and state employees only get paid once a month. I actually like it better than getting paid twice a month.
There are some fairly high paying careers in the U.S. which offer you the option of either bi-weekly or once a month. This is usually reserved for "upper office" folks, but it happens. The vast majority of us however are bi-weekly or weekly.
The best day of the week is Monday. Time to get it and pick up where you left off on Friday. And how you start is how you finish start strong finish stronger. Do better than last Monday.
This is actually sound advice that isn't trying to "give you that 1 million dollar secret" that requires you to buy a service from a dude renting a nice car who "knows the secrets".
When you talked about the salesman methods, you are right... but they are getting more advanced now. For example, the refrigerator example will be reused. The salesperson will offer a better refrigerator and you say “no”.... so you go to the register to purchase the refrigerator that you wanted. Then “suddenly” the cheaper refrigerator is “out of stock” or “not available” at the moment. Since you are on the spot, the majority will just give in and purchase the new and more expensive refrigerator because the salesman told them so much “impressive” things about it and so forth. You always have great advice by the way!
I do these things all the time and finally stopped when I almost bought a car a couple months ago. I’m starting to save and be more responsible and I love it!
I'm starting the spreadsheet this week. Next step is use cash for everything except at the gas pump. It's too many people holding up the line buying lottery tickets when I got inside to pay.
The first tip is true. I make reasonably good money and just recently a friend who I haven't met since high-school phones me and at the end of our conservation he asks if he can borrow some money. Being a good friend I lent him a couple of hundred dollars, but then he phones me again and again and again each time asking for money. So far I gave him $1200 but now feel like a fool which I probably am. Lesson learnt. Never ever tell anyone how much you earn no matter what.
Well United states is the best country to make money if you really want to. Ppl that work in California fields make 40k $ in 6months . They work hard. Jobs that nobody else wants. But guess what? They do it because they come like any other Hispanic ( not all of us) to this country to work and make money to have something in life. All we see a lot of homeless ppl asking for money some of them are really young and physical capable to work and then you see an Hispanic selling fruits, flowers or something to make profit to feed their families instead of begging for money. Thats what I have seen in California I don't know In other states .
Solution: Eat two minute noodles and do nothing for the first month. Then you'll be a month ahead and won't be stressing about money. Just make sure you give yourself a weekly allowance and stick to it.
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There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through RUclips comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
Minority Mindset bro i earn 1000$ a month and i have a 50000$ loan ,costing me 500$ a month in interest. should i repay the loan or invest in seeds
Please reply
Pay debt 1st.
What are your opinions on travel and experiences?
jorge Lara i think if you want to spend it is better to spend on experiences than on things ...
jorge Lara Hello family
1. Don’t broadcast your paycheck. It only makes your friends ask for favorites.
2. Do not gamble with it. You will not be the next gambling millionaire.
3. Don’t spend it on stupid things. Plan out your spending.
4. Don’t spend everything too quickly. Have a plan for your money. Do a budget.
5. Stop listening to sales people.
This is actually more like one thing not to do on payday, and four things not to do in general.
Funny thing is I have a friend who hasn't learned that first rule...... Seriously, she'll text me that she won 500 on a 20 dollar lotto ticket and my automatic response is........ Great, where's my 480...... I never let people know when I come into money...... But I make sure I can get all my expenses paid and treat myself from time to time when I've planned out making the expense......
Got paid today, its time for my bank account to build up. Tired of being part of the Americans with less than $1,000 in the bank
Pay yourself first as they say
Well my brother is a professional poker player and has cleared 150k a year some
Years lol , sure he spends some of it back on poker ! But let’s be honest gambling isn’t the worst thing if ur smart
About it
@@prairiebuds870 it sounds like you are trying to convince yourself.
You're helping me become better at the wallet than even generations behind me, it truly means a lot.
Got paid today.. paid my two credit cards.. set aside money for the house, utilities and food.. sent a chunk to my savings.. got $200 left for the next two weeks for gas and miscellaneous stuff.. Now waiting for my next paycheck 😭😭😭
it's call living life!
If you can't make £200 last two weeks your clearly on crack 😂😂
Yep! "pay yourself first".
get another income stream :>
most parents don't know this stuff to tell their kids. thank goodness common sense is still alive! and thank goodness someone has enough brains to put it out on YT.
Correct. And sadly is not part of any school curriculum either.
I bought a pair of $450 Prada sunglasses..... I feel like shit .... but I look good .... but I feel like shit....
you could prolly buy a decent replica for 15 dollars
Gurvir Gill yeah a lot of them use the same manufacturing company.
Lol... sucks bro, maybe you can bring them back? Rayban are nice sunglasses to you know and alot cheaper. I didn't pay for them though.. Im not that crazy.
Man dont feel bad! You will have hella quality sunglassses and what i mean is QUALITY. In my opinion you shouldnt save money off of your eyes´ health. So investing in a good quality, long lasting pair of sunglasses is a good thing.
Anubis ... they ARE super nice though.... when I put them on everything turns HD and the tint is perfect.... comfortable, and they not only block the sun but it's like they improve my vision..... they're awesome
I save around 50% of my income, and i don't set myself any rules. I buy what I want when I want, I just don't want a lot, I'm happy preparing my own food, exercising, and having a few beers with my mates at the weekend. The quality things in life are either free or cost very little. I'm not saving for anything, just there's nothing more i need to buy
I feel you fam. I bought basically everything that me and my wife want(we don't want for much.) and so now all our money is basically just food, gas and savings. It's not a bad way to go and we always have money to hang out with friends. :D Sure there's the every now and then emergency, but still on our way to a successful retirement with all the amenities. :D
you sir have the right balance imho! too many people focus on what they think is "rich" and actually have NO CONCEPT of it! whats rich? $1 mill 2, 5 10? and whats it for?? Money should be a tool for HAPPINESS and nothing more. if you look at it for more than that, it cannot help you and will not solve your issues. Well done to you. Keep on trucking and stay happy!
In my humble opinion, it's none of my business what you earn, but you simply manage your 'needs' well and probably earn a fair wage, but in this instance I would say ultimately you have a pretty sensible constitution, and I think it is telling that you intimated that there is nothing more you really 'need', good on ya, take care and be well.
+Charlie Brookes
I feel you on that. I'm a university student, and are doing the exact same. I also have one rule for myself: Don't buy anything that gets my bank account under 1558,10 USD (10k in my currency), as I might need it one day for an emergency.
I'm like you minus beer. And 75% of my income.
I’m 16 and just gotta job and I watched this to make sure I don’t spend it all on stuff I don’t need
Your 16 don't go to college get your credit score up
Joe Good wait who said anything about college lol
Don’t work that job yo whole life
Save as much as you can. I'm 26 and if I saved my money since I started working I could've had a house paid off by now.
Hi from the UK. If you're watching these videos at 16 you're already ahead of the pack. WELL DONE ! Keep on educating yourself about money. Then trust your instincts. Best wishes. John.
He said "most Americans have less than $1,000 in their savings account". I used to be one of those people
Jesus. I used to walk around with over $1000 in my wallet always in 50s. Ended up stretching the leather or something and it would take like nearly 2000 in the end. I come to realize I would loose a bit if I lost my wallet so now carry only about 300 at a time.
Lil Malice I am one of those Americans/people right now
lmao I am one of those people, I like saving in cash
@@OffGridInvestor yeah, you would loose a bit because someone kept pick pocketing your ass !! 😂😂🤣
Now you only have 100
If you can't buy 5 of them you can't afford 1 👍👍👍
good rule about cars and homes..
keep most invested ( btc |)
What do you think of INS and IOTA?
Best phrase ever!
i paused the video at that sentence. Never heard of it before but i will never forget it now.
jowhr MRGENOCIDE its actually 3
My beloved father's advice (1)Pay yourself first(save a little, that meant,no matter how small, do this first& don't touch it) & (2)give yourself a little reward each payday (don't go crazy here)
marty martyn your amazon account has been blocked due to the purchasr of 23838473 vodca bottles at payday
"If you can't buy five of them, you can't afford one of them." MY EYES HAVE BEEN OPENED
Not wise for essential life changing stuff
Not wise for small stuff either
Actually the more i think about it, the fewer it seems senseful to me.
@@spitzkopf2128 I kind of took this principle to be applicable to things which are non-necessary impulse buys. A good example would be when around last year I bought a new ipad pro. I had not started budgeting and was failing to save money, and also had a functional laptop so the ipad wasn't something I really needed as such. I don't think the principle applies when one has specifically saved up to buy something they need. But the money I spent on the ipad could have gone towards paying of a loan or something. I now have an emergency fund and some savings (not up to a point a point I want it to be, but good enough), and am saving up some money to buy a new phone just in case my current one dies. I def won't have enough in my savings to buy 5 iphones lol but regardless, I'm saving up for it. What kind of things came to your mind after hearing that statement? Just curious!
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly|
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Whichever firm you select, make sure you get your insurance from a reputable financial adviser, such as *Jenny Pamogas Canaya,* who has dedicated her career to financial planning. Because they will assist you in escalating, navigating better, and completing the task in a safer manner.|
Few people will take this advice sadly:(
That's why it's a minority mindset
ThePanaProject That's a good new... If everyone was doing this nobody would actually work.
Yeah cuz i rather get a luxury car, drink in bars, and gamble my money, just so i can enjoy my life! Let's be real, a girl would want to go out with someone who sits his ass investing in stocks and bitcoin and owns a 97 honda civic? OR someone that has a BMW and makes 1K a month and spends his paycheck buying gucci?
WooferJr wow, good luck getting rich. Girlfriends are a bad investment in money, fuck that. The 2nd guys a loser while the 1st guy will soon be rich on his investments and job and the savings he’s done over the years
Hopefully more people will take the opportunity to educate themselves!
I always paid with cash.. then I got Married she opened a line of credit under a joint account.. becous of my credit.. long story short she's gone and it took me 13 years to fix every thing.. "don't trust a big but and a smile"
Crazy man, I hope the future self isn't stupid enough to trust women like this
I don't get why people use credit, especially in the US where interest rates are made to make you a lifelong customer, not so you can eventually pay off your debt.
open eye's I hate credit cards
madman2u .... more like a life long slave ....
Dick Masterson
"If you can't buy 5 of them you can't afford 1 of them" That was very profound and I really like that. I think that will always be in my mind, unless its an engagement ring or a house...
It's a great statement!
I'd say it's still sound advice. Look up the probability of getting divorced, and the probability of another and another... and pretty soon if you can't afford 5, you really can't afford 1. Movie stars go through the wringer and keep on going, average Joe gets trashed after 1. For the house, well I lost my job shy of three years into a 10 year fixed mortgage, buying what I can afford and having the cheapest house in my area means I've got a roof over my head and time to plan. Thinking on the ring, I've heard it said to put down 2 full months of salary (which probably translates to 4 - 12 months free cash) 2 months salary times five is still less than a years salary. If you don't have a decent pile of cash, new expenses (wild guess...) and emergencies will destroy you, real love doesn't last long in the face of zero cash, bills, debt collectors and constant arguments.
I think a car should be on this list as well. I just paid cash for a 35th anniversary edition mustang GT and I couldn't afford 5 of them. But i did buy a 2nd parts car for like 400 that is totaled that runs and drives and it has a borla exhaust that I wanted to buy. To buy the same exhaust new would cost me 846 dollars. So i have lots of other parts in case i need them or i can sell them and make profit. the same motor and trans on ebay is like 3,000 dollars. I'm thinking of parting it out. I still have like 800 dollars cash left and no credit cards or bills that need paid. I'm putting it back for a rainy day in case an emergency comes up.
Philippe Perkins the engagement ring is literally useless, it's a tradition created by decades of marketing by the debeers corporation that has a monopoly on diamonds. Break the cycle. Fuck the ring. Buy her something useful if she is gonna think you're cheap.
@@fil4648 Agreed ! Also wedding parties are a huge waste of money.
I remember watching this video when you barely had any subscribers bro I’m glad you blew up your content is always fresh and non repetitive
Honest it’s crazy seeing these videos are very nostalgic now
This is good BASIC financial advice, but I'm going to add.
6. If your broke, don't buy a used luxury car. Just because you can afford to buy it doesn't mean you can afford to own it. (insane repair cost)
7. Rims you buy for your car should never exceed 10 percent of the value of your car, and should never ever be more expensive than the car itself.
8. Stop cashing checks at check cashing places, get a bank account and you get to keep all of your money.
9. NEVER *EVER EVER EVER* take out a payday or title loan. These loans literally equal "OK I'll lend you a $1, you pay me back $667 next year"
10. Avoid buy here pay here lots that do "special in house credit" These are car repo mills, with horrible cars, and interest rates.
Pro advice is to store your savings money in a safe or vaults, Banks are unreliable and they take money from you, a safe keeps 100% of your money.
Inflation means you are losing 2-3% of the money in your safe each year.
@@4evrEpic gold, silver and platinum.
*Ugh...#9!*
Thanks for the advice. Will never be dumb enough for a pay day loan haha I’m very grateful I learned all this before desperation hit lol
Right now I’m paying off my student loan, so I use most of it to pay off my loan. I want to be done ASAP so I can start saving and investing. 😊
janereaction same! Sometimes I’ll even put “too much” towards loans as soon as I get my hands on it. Then I regret it because I have a hard time paying for other very important things 😩
Always make payments towards the principal not the monthly payment. That will have you pay less in interest in the long run.
faatman42 I’m done!
@@janereaction4799 congrats
faatman42 Thank you! ☺️
This is just purely good advice, i dont understand how so many people dont know this stuff
Exodarion well they are brainwashed. If everyone was smart then everything would have to be free. Because we wouldn't have heart to charge someone for something. So we need dumb and stupid people to do business. Have nice day. 🤝
sal sel that would happen if we were really really stupid
*Exodarion ---* I'm amazed at that too. When I was in My 20's I had older friends 30s-40s that never had a bank account, didn't have a clue how to budget their money. Their parents never showed some of them how to do anything other than to just go to the store and shop.
Yep im partially brainwashed, this shhhh sux.
I used to think this too. Over time I realized that people value material things more than financial stability. They think that buying "things" (no matter how much interest they pay) gives them happiness, but they don't realize that it does nothing for them. They simply don't think that they can have both, so they don't try.
i am not a minority but this man is wise and is woth listening thank you for helping me get a hold of my finance
what really helped me is getting rid of my bad habit like drinking alcool and energie drink and weed the amount save by years is a lot
Did my budget. Found out the majority of my money is going toward the Stupid Student Loan i took out in college for a degree im not using... 😭
it was at this moment that Mellowman468 knew he fuck up.
Mellowman468 Dont pay them, they're not gunna beat u like your mom did
Ed Esteezy your advice of not paying them is the stupidest thing I've heard. You know you don't pay off your loan at your convenience right? There is something called interest. The longer you take, the more you pay. If you don't pay up, they'll start taking your valuable property to try and pay off your loan as much as possible.
Mellowman468 out of curiosity what was your degree?
Mellowman468 you are right, these days every degree is slavery. People think they will be rich when they graduate lol. No. The person that works at McDonald's and you who has degree no difference. You will be balanced with your money thats it. Probably person that works at McDonald's will have more cash or money in general in their pockets.then you having degree lol
Its all your choice. Most people figure this out AFTER THEY GRADUATE, YOU NEED TO FIGURE OUT WHILE YOU IN COLLEGE OR BEFORE YOU GO SO THAT WAY YOUR DEGREE WILL NOT PISS YOU OFF INSTEAD IT SHOULD MAKE.YOU VERY VERY HAPPY. BUT MOST PEOPLE ARE MISREABLE AFTER GETTING THEIR DEGREES. GO FIGURE. HAVE NICE DAY
Oh my god this is crazy!! Minority mindset I can honestly say I began watching your videos since the first couple of ones when you had about dozens and dozens of views off an ad on Facebook. Now you have hundreds of thousands of subscribers and millions of views?? Amazing man keep it up
This guy is teaching life lessons thanks dude
Cannibalistic Cheeseburm
He's great! We agree
Don't tell everybody that you got paid, Im liking this guy already.
All the down thumbs are from goddamn car salesmen.
you nailed it champ lmao
Classic blame others for your problems, no car salesman is making you buy a car. Just giving you all the reasons why you should want it - it's up to you if you want to decide to go into debt or not.
Lol you're not wrong
*slaps roof of car*
i methinks he needs to be over the top - to get the you tube to pay out. Also Has to work harder to ingratiate us because appearance.
Your videos are the best, you are wise beyond your years and I especially love your humor! Thanks!
:)
It's me... I'm the friend that blows her money and now I just got a reality check by you... subscribed!
“Buy with cash”. Best advice. My parents only paid cash their whole lives and had no debts. However...during COVID lockdown, we can not pay cash (shops won’t accept cash). During the lockdown, we must shop online (except groceries), and they only accept a credit card (I think). Another you-tuber says that when she pays with credit card, she then immediately transfers that amount from her bank account to her credit card account. Very informative video. Thanks
Good video man! You're addressing an area that really needs brought to the attention of just about everyone. I'd say it's borderline criminal (either negligence or intentional) that there isn't wayyyyyy more financial based curriculum in schools (from taxes to retirement saving to investment planning to budgeting etc). In Canada I think it's like 95%-97% of people will not be able to retire independently by 65... that's disgusting. So good on you man for getting some knowledge/common sense out there on the topic.
A relative of mine whom I worked with for several years told me a story when he was giving me my first paycheck. He'd given half of his first earning to poor people on the street and two years later owned a big business.
So if the dude is giving away all of his money how is he profiting his business?
Did he convince you to give half your earning to him so he can give it to the poor?
@@ronrolfsen3977 lol..!! Good one.
When I was 18 and out of school. I was working a 9-5 job 6 days a week for $590/m. Started doing my own budgets and stuck to it for a full year. Ended up with $1200 at the end of 2015. It's now nearly 2019 and I have almost $4500 just off cutting out small things per month and putting my leftover money with the savings money.
I recently quit my job and started doing other people's budgets for a small price. Sure I might be getting less money right now, but I'm completely happy with what I do at this moment.
So true about social media posting. Bought a new truck once, and a day later some “friend” asked if he could borrow it to mulch his yard...
You know it's good money advice when it's from a Punjabi
Patrick Gonzalez damn what a genius analogy right there 👏👏👏
Patrick Gonzalez yeah but when desis move to america there like so good at investing
Vaisakh Nair It's called facts
Khaled Sahbi, no, I beg to differ. Sikh are very liberal with their belongings and a bit extravagant as well. Try a "Baniya" or "Marwari" for money related affairs.
Patrick Gonzalez , that's why. We know how to make most out of what we get. P. S. - none offence taken on being "low on money", but poverty and richness is not much dependant on money.
5:16 Hearing Jaspreet saying "Nooooo" like that had me dying on the inside
I have two "adult"? son's. Will definitely encourage them to watch your channel. Well done!
Lol those son's are proly fucked.
The part about getting paid and people coming out of nowhere to help you spend it, i felt the fuck outta that
I wish more people thought this way, it should be common sense. If you can't afford to buy something, why go in debt to get a status symbol? The only acception being mortgage for a house.
That's actually very insightful, never thought of that. If more people held onto their money instead of having the mentality of "I got my paycheck, now I can buy this!", it seriously would damage the economy.
If done right, taking a mortgage instead of renting results in more value over time. If you're renting and investing rather than taking a mortgage, your value will be a bit less than taking the mortgage. In most cases, interest on debt outweighs interest on investing. But in this case, you actually make a bit more in the long term taking on the debt.
NextToTheGM ...... sad but true ...... wealth is built on the backs of the poor ...
I love how he is floating through the video like some kind of financial genie.
"If you can't afford FIVE of them, you can't afford it", I LOVE this, man!!!!
Love this guy, reminds me of my brother when I was about to buy something I shouldn’t, and when he taught me how to say no to an experienced seller trying to sell something to me that I shouldn’t be buying. Great episode, thx.
1,435 people are broke as fuck right now and salty about it.
Casey S now its almost at 2k...🤣
If people got smart then every shopping mall in America would cease operations and the economy would collapse lol! Think about what a shopping mall is: women's clothing, women's shoes, women's jewelry, cellphone kiosks for grossly overpriced services like AT&T and Verizon, and a food court to feed the women shopping for clothing, shoes, jewelry, and cases for their iPhones. It's like the entire economy has become dependent on people being stupid with money. "Back when I was a kid" a mall had a variety of things like pet stores, arcades, book stores, music/vhs/game stores, hobby stores, and other fun things. Now they are nothing but crap.
Jaspreet I'm outchea in South Africa and I love your content! Your advice is SO relevant to us as well.
Save your money kids, just turned 17 and stacked 8k
Heebsen 8k? a 17 yr old should be making 20K a year my guy
Do the math, it's just under 10k
Heebsen what the fuck does that mean? You said you saved 8k and that guy told you "that's nothing you should be making at least 20k per year" what the hell are you talking about when say "do the math"? What fucking math?!
Ari Newhouse I make 10k a year not 20k
No one gives a fuck you cow
I started doing this stuff 20 yrs ago and own two properties have no debt and always have 💰.It works
I'm so addicted to your pretty face, wisdom and beard.😍
"If you can't buy 5 of them, you can't afford 1 of them." I need to listen to that advice from now on
Cash RULE, no cash, no spending. First thing an individual should do with their check (payroll), "PAY THEMSELVES" Take that money, invest it. Invest it in a preferred investment of choice!
Cornel Campbell lmao
Cornel Campbell I'm totally opposite. If I got cash I will not spend it. Screw bills screw rent etc I do not want to spend cash lol
Mark Armstrong
I used to be like that... until I realized how bad fiat money is. Better to invest as much income as you can, and only keep a bare minimum for an emergency fund (e.g. 3 months food + rent), then to have your money taken away from inflation and other sources.
XCurrent Breeze fiat currency*
Intercepting Fist
Dammit. That's what I meant to say, good catch.
Bring back that intro. Thanks for all the advice and everything you do for everyone.
Hahaha “a stack of singles with a $100 on top,” love it, well done! Common sense isn’t very common these days. Too many people make decisions based on emotions instead of logic and they almost always pay for it in the end.
Love your channel Jaspreet, keep up the great work!
Jaspreet, awesome vid! My latest goal is "no more living month to month", thanks in part to your excellent content!
That's awesome!!!
Check out Dave Ramsey he is also great!
Jose Rosado What do you mean by this? Please spread the good knowledge
Jorge Rivas For me to not live month to month is to have no debt except reoccurring bills like electric etc. It means having at least 20k liquid in my checking to fix whatever needs fixing w/o using credit. Yearly bills like taxes and insurance are completely paid when recieved. No month to month. It means no auto loans and no mortgage. That's what you call good living!
Jose Rosado marry an Indian girl or guy...get a dowry
Unemployed friend who has a kid, lives with his parents just bought a $300 kayak. He claims is an investment lol. Still does not have a car.
your life must be amazing
No the friends life sounds amazing lucky dude could sit on his ass and don't have to worry about nothing cause mommy and daddy is there
dsh hiphop why are u getting burns. It's his life
JD M an investment for what? If a tsunami comes he can kayak away?
Hi lmfao 😂😂😂😂
I love this guy! I don’t watch because I need the advice, he’s just entertaining.
NOOO
peter russel
I'm scrolling for this
Roflmao.
Nooooooooo...
KingNoobissis lol
I feel like I should watch this video every payday to keep myself on track 😂
Jennifer Cooper just what am gonna do , I just saved the link 😂😂
The greater the passive income you can build, the freer you will become. Taking the first step is the hardest, but 7 houses later living off passive income. You’ve got to start taking steps to achieve your goal.
All passive income ideas work as long as you put the work in. I focus more on cryptos, NFTs, real estate crowdfunding and IDOs. With the assistance of a financial consultant, I’m doing well for myself.
I'm just coming across these videos now, and you give solid financial advise. I'm not wealthy. I just get a small disability check each month. But I watch my monthly expenses and have built up my savings. And that makes all the difference in the world. I don't have any credit cards and don't want them. If I need to make a large purchase, I borrow the money from my savings and pay it back. Like I would the credit card company but with no interest or penalties. Someone from my bank was trying encourage me to get a credit card, and I asked why I would need one when I can finance my purchases myself. In the past, I did pretty much everything you are talking about wrong. Aside from gambling. And now just making these small changes in how I handle my money has been completely life changing.
Here's my problem. I once had a tangible asset as savings for about 13 years. I sold it for 100% return on it (10% return on it annually) prior to selling everything I had for moving to India. In 2005, I started learning about how the western monetary system works to keep everyone else down. Since then, I worked to protect myself financially. 5 years ago, when I left my part-time retail job to travel my home state to find work in an entirely different line of work, I cashed out my 401K, since I knew I wasn't going back into a company that would let me stay there long enough to get it again. I roamed and looked for opportunities for all those years and ended up with nothing.
Well, not exactly nothing. I was able to find odd jobs here and there, enough to pay off a number of bills, but I could never really get a handle on it because I couldn't find stable work long enough to pay NECESSARY bills off. Fast forward to India, where my cost of living is so low that I am paying off my medical bills of $12,000 from January/February This MONTH. Not possible in the USA under my circumstances.
Now, what I have is some money to save it. We must take in consideration some things. I am 52 already and am largely unemployable for anything more than retail jobs and office work, both of which I hate with a BLACK PASSION. Secondly, I have a fixed income from the USA that is more than enough in India. Thirdly, I am not looking to make a few million dollars, as what would I do with it? The fact is, I ought to save as much as I comfortably can for the next 15 years, and then draw down on it for 15 years after that. Or, maybe take it to 20 and draw down on it, as I don't see myself living much beyond 80.
Jj
Frist time I saw one of your videos and you've already changed my life. Thank you.
absolutely disgusted by the amount of racist comments left, should not be happening at all.
They hate because they don't have anything positive going on in their lives.
Natasha McKee litteraly not a single one 😂
Racist comments?? I went down hundreds of comments and couldn't find one lol
Natasha McKee bro...where are these racist comments?
Alex Dell nope blocking them is absolutely more effective
i'm only 25 seconds into your video but i subbed to your channel because of your enthusiastic personality
I needed to see this. I'm a dumb spender myself, a RUclips video is telling me to be smart.
Not playing casino or lottery. Check.
Not showing the world my paycheck. Well, that's something I should stop telling the squad.
Oh, and as for the five rule, yup, I definitely need to change that habit.
Sometimes all it takes is a little inspiration!
You're soo good, man. How did you become so open and charismatic? I could really use some tips.
Check out the channel charisma on command. They have a great book, a wide range of charisma tutorials and analyzes on what single things make charismatic celebrities or fictive characters so charismatic.
Subbed you, Baby Investing!
I just saw that, I really appreciate you, and hope to see you around more often!
BABY Investing yep, always want to learn about money management.
BABY - Become A Better You lol
1 in 175 million chance?.....so you're telling me there's a chance? Lol jk
Conntu lee Great movie.
If you don't buy a ticket you have no chance so...
Conntu lee lol
Alpha Centauri Still wanna go to Aspen??! Ohhh yeah! Lmfao love it
Jay Hari haha
There is no one way to approach finances! it's just figuring out what works best for you!
Before I started my working life my Dad told me to use every program to save money for bad times and retirement.
Despite some expensive mistakes and a couple recessions, I was able to retire (comfortably) at 57 (I'm almost 62). ;-)
This is my favorite video of yours...funny yet educational. Keep the energy and passion going...oh, and keep hustlin'
i’m 18 and pretty much been saving the majority, keeping a portion for spending and use the rest for my bills and paying my student loan... i thought this was common sense lol
Aizya damn you so smart and ahead woooe so impressed
this is basically kindergarden economics
eeeewwww education!
How are u 18 with a student loan lol
Pariss London finished high school just after i turned 17 then started a course..
You have the best videos on youtube about money management- I can relate to them, great tips! Thanks you are doing great work, I become extremely frugal when I don't have a job.. Growing up, we were taught early on Save first spend later..so keep the money aside that you plan on saving/investing and now plan your month with money after savings are done, so that you are always ready for the rainy day..Great relatable and useful content.Thanks
Sometimes I look at the other people in their mid 20s around me living paycheck to paycheck and I am like....Am I the only one that figured out putting 25% aside every week ends up in the end allowing me a bigger lifestyle later on? Saving account has a big penalty every time it is used sure...but I touched it twice only since my 18th birthday for emergencies. I mean I could live off for a few years at least with the money now. And it keeps growing every week and interests are going up and up. Made the math and at this rate I could take an early retirement at 45 and still have leftover for when the retirement money kicks in. Paycheck to paycheck till 65ish with a poor retirement or living below my financial means, skipping expensive purchases and restaurants to retire at 45 and live comfortably doing my favorite hobbies till the day I die? I made my choice. Sure sometimes I get eyebrowed "but dude you can afford it with your salary!" . Nah. I'll skip the expensive filet and crab. I will buy that cheaper cut and noname brands and have a smaller home with less expensive furniture than I could buy. The reward of retiring young and healthy is well worth it in my mind. -Signed a 26 years old thinking ahead.
ZirconX I'm aiming for 35. Fuck work.
Sensai Zircon Thanks for the extra knowledge. I'm definitely taking heave of that. But bro where not alone . I been living in my apartment since I was 18 .no social media and barely going out to fast food. saving and taking care of my son saving for our future. Now about to be 21 best years of my life making homemade meals and grilling. living comfortable with the mother of my child. You give me hope for this world. Keep doing you boss
Yeah exactly for example.
I know alot of second hand stores that have really good quality furniture for extremely cheap. Only reason people don't go is cause "Its not brand new" "It looks like old 1940s - 90s furniture"
If only they knew how gorgeous a retro style house can be for really cheap.
Just invest in an index universal life insurance that has your money growing at 15% max and be sure your money is working for U. Banks won't grow ur money even up to 2% interest.
Calvin Dike Who do I speak with about this? And is there any risk?
I like your presentation style, very lively. Subscribed!
love the rule of 5 im implementing that now
It's a great rule!
Yea so if you can’t buy 5 iPhones don’t buy one.. yea ok!
Don't make a baby unless you can afford five of them.
noooooooo
"Yea so if you can’t buy 5 iPhones don’t buy one.. yea ok!"
You don't need an iphone. Lots of budget phones on the market,
Good to see my brother doing well for himself.
By the grace of Waheguru Ji
Thank you so much for all of your insights! I feel as if I'm making no progress in this type of stuff but I want to remind myself that being aware is part of the process!
Educating yourself is the first step! You're on the right track
“Let me look at some really successful people and replicate what they do” 😂😂
Thanks Jaspreet for the video :)
And for the Ebook, I just downloaded "Get Rich(er) Sleeping" a week ago and am really looking forward to seeing the results of applying the principles.
I am 17 years old in College and have been saving 95% of my income for the past two months and will be putting it in a "seed" next month.
I'll be sure to let you know how it goes :)
Thanks again Jaspreet :D
nero crowmath invest in previous metals. Gold and silver as they always retain their value.
I am going to invest in a small piece of real estate with my brother :)
Caleb Knawledge .
Man you are learning early!!!
Well don't leave us hanging Caleb.. How did it work?
im 46 and im still not able to spend wisely but im slowly learning. thank you
You are the only Indian origin guy i love to listen....👋👌🏻👌🏻👌🏻 @minoritymindset
This video was about flexing 💪
Flex on...
morland . YES!! LOL
morland 😍
5 Things Not To Do With Your Money
0:44 #01 Post On Social Media That You Just Got Paid
1:35 #02 Gamble!!!
3:06 #03 Spending On Dumb Things
3:37 #04 Be A Cliff Spender
4:25 #05 Listening To Sales People
Thanks bro!
That excel spreadsheet changed my way of spending. Everyone should do it.
4:03 bro, excel spreadsheet? That's so 2015. In 2017 people use apps to track their income/expenses. It's saves you time that you can spend into learning to to make more money. ;)
Haha, sorry looks like I'm falling behind 😂😂
Minority Mindset I like doing it on Excel because as an Accountant, we use a lot of it in the office and are aware of complicated formulas. I also like the privacy that comes with it unlike apps where you need to provide a lot of personal info.
Divine Grace Rafanan Yessssss
Ruslan N Apps can track you.
I used to think the same thing but nothing beats the simplicity and flexibility of Excel. No matter how many other tools or apps I've used, I still come back to it.
solid tips but in sweden you ONLY get it once a month, why in america every two weeks?
Berendsen That's just the way most companies operate. They pay employees every 2 weeks. However, I work for the state of California and state employees only get paid once a month. I actually like it better than getting paid twice a month.
In the Philippines it's twice a month as well
There are some fairly high paying careers in the U.S. which offer you the option of either bi-weekly or once a month. This is usually reserved for "upper office" folks, but it happens. The vast majority of us however are bi-weekly or weekly.
thanks for the replies! interesting haha
Berendsen I Get Paid Weekly... Monthly Is Unthinkable!!!
Your beard is majestic
The best day of the week is Monday. Time to get it and pick up where you left off on Friday. And how you start is how you finish start strong finish stronger. Do better than last Monday.
Even tho I'm only 13 this is sooo relevant to what class I'm taking I won't forget about dis vid!
Liked the rule of five thing. Good advice.
This is actually sound advice that isn't trying to "give you that 1 million dollar secret" that requires you to buy a service from a dude renting a nice car who "knows the secrets".
You know what I value more? KNAWLEDGE
@@nikousenpai nice English.
@@nikousenpai lmfao
When you talked about the salesman methods, you are right... but they are getting more advanced now. For example, the refrigerator example will be reused. The salesperson will offer a better refrigerator and you say “no”.... so you go to the register to purchase the refrigerator that you wanted. Then “suddenly” the cheaper refrigerator is “out of stock” or “not available” at the moment. Since you are on the spot, the majority will just give in and purchase the new and more expensive refrigerator because the salesman told them so much “impressive” things about it and so forth. You always have great advice by the way!
Punjabis always be living in the rich ass south side houses lol so let me sit down and take notes 🤑🤑
Aly Defab lol you Edmonton
adrian singh send Bob pic
adrian singh no you are not
That ass though
Pay Day And All To The Bills!! "NOOOOOOOOO!!"
Capitalism killed us
The rule of 5. "If you can't buy 5 then you can't afford 1".....
One word.....
Houses c:
Pft, why buy a house when you can live in a cardboard box under the bridge to maximize how much money you save on property tax and electric bills? c:
I do these things all the time and finally stopped when I almost bought a car a couple months ago. I’m starting to save and be more responsible and I love it!
Great information, thank you for taking your time to make this video you made it fun to watch. Big like🤗👍
Great tips. In the end, money management is a crucial skill to learn young so you can be successful later in life :-)
Never knew James Harden is a youtuber
Aqil Hazim it's Punjames Harden
I'm starting the spreadsheet this week. Next step is use cash for everything except at the gas pump. It's too many people holding up the line buying lottery tickets when I got inside to pay.
The first tip is true. I make reasonably good money and just recently a friend who I haven't met since high-school phones me and at the end of our conservation he asks if he can borrow some money. Being a good friend I lent him a couple of hundred dollars, but then he phones me again and again and again each time asking for money. So far I gave him $1200 but now feel like a fool which I probably am. Lesson learnt. Never ever tell anyone how much you earn no matter what.
People like that are leeches, if they aren't willing to take control of their own financial health it's not your responsibility. ditch them.
This is way too awesome and entertaining at the same time.
Informative and entertaining! Love it!
he forgot to say some peaple get paid once a month ha ha ha
Julio Santana or every week (not biweekly)
Well United states is the best country to make money if you really want to.
Ppl that work in California fields make 40k $ in 6months . They work hard. Jobs that nobody else wants. But guess what? They do it because they come like any other Hispanic ( not all of us) to this country to work and make money to have something in life.
All we see a lot of homeless ppl asking for money some of them are really young and physical capable to work and then you see an Hispanic selling fruits, flowers or something to make profit to feed their families instead of begging for money. Thats what I have seen in California I don't know In other states .
Solution: Eat two minute noodles and do nothing for the first month. Then you'll be a month ahead and won't be stressing about money. Just make sure you give yourself a weekly allowance and stick to it.
My dad does
He did