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I totally agree. I put $250k into stocks with my advisor, and now I've made over $4 million in profits. I used the profits to buy properties, and they're bringing in great income. It just shows how important it is to invest in things that grow over time. It's like I'm living out the lessons right from the start of his book- Guide to investing
Despite the ups and downs in the stock market, you've managed to turn your investments into good profits. Could you share the name of your advisor? I have $300k saved up and ready to invest, but as a beginner, I don't know my way around the market.
I am on the look out for experts and after doing my research online will say she meets my requirements, Thank you for sharing with us. I already sent her a mail hoping she can make out time in her busy schedule to assist me.
I'm definitely an emotional spender and setting my savings on auto pilot has been a game changer. Never thought to look at items as cost per use but I have started buying higher quality items that need to be replaced less often.
Without a doubt, this year will be worse than the last. I lost a lot of money last year as a result of bad investment choices that I would not have made if I hadn't been so worried about my portfolio. I kept investing, but I couldn't determine whether to start paying for a house. In the end, I sold my positions, and the house needed more work than I had planned. I'm not sure how long I can keep going like this
Invest in a competent financial therapist without a doubt. There are blind spots for everyone when it comes to money. I moved to New York and began consulting with mine in Washington. In the last eight months, I moved from making a pitiful 500k to exactly 662k, all thanks to a strategy and a growing fondness for spreadsheets. This gives me a lot of hope for 2024
Completely agree. I set it up so that part of my check goes into a food account, bills account, and the balance into a fun account. Game changer for this over spender😅.
I love this breakdown of emotional spending. I definitely wasted my youthful earnings. I'm much more content in my life now and barely spend on unnecessary purchases. If only I knew then
Finding myself in a situation where I don't have much space for extra stuff, has naturally prevented me from buying anything plus being lazy means getting a storage units was a no go, what I'm saying is humans have terrible impulse control, so in the long run it's better to structure your life and environment so that those impulses have nothing to grab unto.
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.
My spending changed forever when I started to turn price to hours of my time. This shirt costs "only" 20€ >> Am I ready to work 2hours to get this shirt? Mostly, the answer is no.
The comparison between a coffee from a cafe and a homemade coffee isn't 100% right. At the cafe you get the complete product (a hot and tasty coffee). With the machine you are only to able to make a coffee. You need to add expenses for the coffee powder, milk, sugar and so on. It will be cheaper than in a cafe, but from my perspective it's not 68 cents during a period of 2 years.
My thoughts exactly! Add on cost of water, electricity, coffee, milk, sweetener and ofc dishwashing liquid to clean everything u used to make the coffee! Still probably a good investment & cheaper but *not* 68c a day
I so believe this! We can all work on eliminating emotional spending. I ask myself this question when I feel the need to buy “unnecessary stuff” I remind myself that this purchase is not helping my FIRE goal!
Speaking as someone who did in my younger start 20´s wasted alot of money. Mostly on pc parts components electronics related stuff. But i know people got different hobbies what might be cheap for someone else might be expensive for me. But as i growed older. I learned that it is much important to be financial independent rather than having denepndcy on others. I realized that having ones own shelther home over head vs living with others that having roof above ones own head is much more important that all fun stuff. Of course not saying fun stuff in life is bad everyone got different things they find fun spending money on. But i kinda talk from experience
Recognizing emotional spending triggers is so crucial for saving effectively. Setting clear goals and finding healthier alternatives to that dopamine hit can make a huge difference! 💡
Vincent- great thanks! Well presented! For what it's worth- someone offered to buy us a coffee machine that make those wonderfully tasting coffees. We'd have to buy, buy, and continue to buy those coffee pods- expensive. We stuck with making our cheap instant coff- and continue to save $. 😄 (In my past life, I did buy coffees out.)
What is the model of the espresso machine that you have? I've been buying pods for my Nespresso machine, which is probably more expensive than buying a good espresso machine that will last for years.
Emotional spending has gotten me into a lot of trouble in the past. There are certain stores that I simply cannot go into because I know I will find multiple items I don’t need, but in the moment, desperately want. I have zero self control when that happens.
I really appreciate and agree your beak down and explanation on emotional spending, I definitely suffered from that and ended up wasting a lot of money, thanks to videos like this is I am learning to be more self aware and financially literate with my money.
I have 200 euro a month every month for fun things. So if I want to buy a snack or something else random I can just do it. Sometimes I spend it for going out to eat with my wife, and sometimes I use it for something like clothes.
Unsubscribe to all texts that could lead you to spend. For me it was my favorite candle company, Box Lunch, and Hot Topic. 😮 Now that I don’t get texts from them I don’t get tempted to spend that $3 coupon on a $75 order!!! 😂
2:21 There is no justification for paying $4.50 for a single cookie. If insist on doing it anyway, I have a 1989 Toyota Corolla I would be happy to sell you for $100,000.
I have been using CIT Bank for my OHYS. I’ve been happy with them. Transfers are easy, although they are not immediate. So if you need your money same day this would not be good for you.
well done. As a personal finance coach before i retired two years ago (to live/travel outside the US), i worked with clients on the same emotional issues. while the video started out on the approach, delving into HOW to understand your emotional history with money was missing. the solutions you provided were logical and action oriented and did not continue to along the initial "emotional" journey you started on. perhaps consider an overlay around core values to help determine WHAT and WHERE you spend money to continue along the same thread that you started on. well done and i enjoy the content as well as the time and effort that you put into it. keep it up and best of luck on your journey
I automate all of my savings moving money out every two weeks, same with mine and my wife's IRAs. My 401k is already out of my paycheck so I don't even think about it. I've had it set at 18% for 4 years.
![BLACK BAG - Official Trailer [HD] - Only in Theaters March 14](http://i.ytimg.com/vi/Du0Xp8WX_7I/mqdefault.jpg)
💸 Earn up to 5.25% APY with the Best High Yield Savings Accounts → vincentchan.co/best-savings-accounts
💵 Join 26,000+ people saving money faster with my FREE Savings Goal Tracker → vincentchan.co/savings-tracker
Love the video. Should be a part two cleaning debt as well could eat up your money. A video on how to pay it back or how to do it quickly.
Anyone who likes pineapple pizza is a good person 👌
“Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.” - Robert Kiyosaki
I totally agree. I put $250k into stocks with my advisor, and now I've made over $4 million in profits. I used the profits to buy properties, and they're bringing in great income. It just shows how important it is to invest in things that grow over time. It's like I'm living out the lessons right from the start of his book- Guide to investing
Despite the ups and downs in the stock market, you've managed to turn your investments into good profits. Could you share the name of your advisor? I have $300k saved up and ready to invest, but as a beginner, I don't know my way around the market.
She is well known as - Chasity George Charles. please do your own research.
I am on the look out for experts and after doing my research online will say she meets my requirements, Thank you for sharing with us. I already sent her a mail hoping she can make out time in her busy schedule to assist me.
Robert “just borrow someone else’s money” kiyosaki
I'm definitely an emotional spender and setting my savings on auto pilot has been a game changer. Never thought to look at items as cost per use but I have started buying higher quality items that need to be replaced less often.
Im starting to think Vincent likes pineapple pizza
Pineapple pizza is the best; Hawaiian. 😋😋
Say it ain’t so 😢
I m beginning to think I might be Vincent Chan!😅
Pineapple pizza is good though lol
Without a doubt, this year will be worse than the last. I lost a lot of money last year as a result of bad investment choices that I would not have made if I hadn't been so worried about my portfolio. I kept investing, but I couldn't determine whether to start paying for a house. In the end, I sold my positions, and the house needed more work than I had planned. I'm not sure how long I can keep going like this
Invest in a competent financial therapist without a doubt. There are blind spots for everyone when it comes to money. I moved to New York and began consulting with mine in Washington. In the last eight months, I moved from making a pitiful 500k to exactly 662k, all thanks to a strategy and a growing fondness for spreadsheets. This gives me a lot of hope for 2024
We've all made mistakes at some point. You should consider financial planning
Do you mind sharing your financial planner ?
Leah Foster Alderman
You are most likely to find more info when you look her up
Completely agree. I set it up so that part of my check goes into a food account, bills account, and the balance into a fun account. Game changer for this over spender😅.
I love this breakdown of emotional spending. I definitely wasted my youthful earnings. I'm much more content in my life now and barely spend on unnecessary purchases. If only I knew then
what did you buy a lot of when you were younger?
@@VincentChan I'm so embarrassed, but: fashion, cars, spas, eating out. Exactly everything I was deprived as a child.
Finding myself in a situation where I don't have much space for extra stuff, has naturally prevented me from buying anything plus being lazy means getting a storage units was a no go, what I'm saying is humans have terrible impulse control, so in the long run it's better to structure your life and environment so that those impulses have nothing to grab unto.
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.
My spending changed forever when I started to turn price to hours of my time. This shirt costs "only" 20€ >> Am I ready to work 2hours to get this shirt? Mostly, the answer is no.
I do this too 😊
Omg, that's been my mindset since I was 18 😊
The comparison between a coffee from a cafe and a homemade coffee isn't 100% right. At the cafe you get the complete product (a hot and tasty coffee). With the machine you are only to able to make a coffee. You need to add expenses for the coffee powder, milk, sugar and so on. It will be cheaper than in a cafe, but from my perspective it's not 68 cents during a period of 2 years.
My thoughts exactly! Add on cost of water, electricity, coffee, milk, sweetener and ofc dishwashing liquid to clean everything u used to make the coffee! Still probably a good investment & cheaper but *not* 68c a day
Always looking forward to Sunday's when Vincent Posts
Thanks Noah, that means a lot! what did you think of this video?
I so believe this! We can all work on eliminating emotional spending. I ask myself this question when I feel the need to buy “unnecessary stuff” I remind myself that this purchase is not helping my FIRE goal!
Your videos hold true value.
what watch is he wearing? Looks sharp
Love your videos, thanks for what you do
Speaking as someone who did in my younger start 20´s wasted alot of money. Mostly on pc parts components electronics related stuff. But i know people got different hobbies what might be cheap for someone else might be expensive for me. But as i growed older. I learned that it is much important to be financial independent rather than having denepndcy on others. I realized that having ones own shelther home over head vs living with others that having roof above ones own head is much more important that all fun stuff. Of course not saying fun stuff in life is bad everyone got different things they find fun spending money on. But i kinda talk from experience
Great information 👍
Great video 💗🌷
Recognizing emotional spending triggers is so crucial for saving effectively. Setting clear goals and finding healthier alternatives to that dopamine hit can make a huge difference! 💡
I really enjoy your videos!
Vincent- great thanks! Well presented! For what it's worth- someone offered to buy us a coffee machine that make those wonderfully tasting coffees. We'd have to buy, buy, and continue to buy those coffee pods- expensive. We stuck with making our cheap instant coff- and continue to save $. 😄 (In my past life, I did buy coffees out.)
Another excellent video.
My wife left me for my yoga instructor and now I have a lot more money.
What is the model of the espresso machine that you have? I've been buying pods for my Nespresso machine, which is probably more expensive than buying a good espresso machine that will last for years.
Emotional spending has gotten me into a lot of trouble in the past. There are certain stores that I simply cannot go into because I know I will find multiple items I don’t need, but in the moment, desperately want. I have zero self control when that happens.
0:43 : So, logical > emotional with 5-step savings framework by finding out what I feel...🤔
Yeah! This can work! Thank you!
I really appreciate and agree your beak down and explanation on emotional spending, I definitely suffered from that and ended up wasting a lot of money, thanks to videos like this is I am learning to be more self aware and financially literate with my money.
What if i logically concluded that im emotional in my spending?
Nice video as always 😊Btw, you might want to get a moss pole for your monstera plant behind you 😉 they look better upright 👍
I have 200 euro a month every month for fun things. So if I want to buy a snack or something else random I can just do it. Sometimes I spend it for going out to eat with my wife, and sometimes I use it for something like clothes.
Unsubscribe to all texts that could lead you to spend. For me it was my favorite candle company, Box Lunch, and Hot Topic. 😮 Now that I don’t get texts from them I don’t get tempted to spend that $3 coupon on a $75 order!!! 😂
Thanks for your videos. I need to finally grow up!
Emotions everything
Hey, the confirmation email does not seem to come
Nothing is better than pineapple and pepperoni. Everyone looks at me weird till they try it, then they understand. It’s the tacos al pastor of pizza.
Yep and pineapple with meatballs on pizza is also good.
Great video once again!! BTW: Pineapple, marinara sauce, ham, a little cheese, loads of tomatoes on my pizza, please!!! Yumm!!
When i almost buy the newest M4 iPad. I ask myself “ Do you want to work until you DIE? “
Then i put all my paycheck into my retirement account 😂
2:21 There is no justification for paying $4.50 for a single cookie. If insist on doing it anyway, I have a 1989 Toyota Corolla I would be happy to sell you for $100,000.
I love your pineapple pizza analogies!!
the way you harvest stupidity is an art
is that a compliment for Vincent? You are saying he is artistic in explaining how to turn stupid behavior into intelligent actions?
Your videos are helpful. Great advice.
Apparently better help is the worst company you can go to for mental health! They just take your money and you don't get the help you want or need.
I have been using CIT Bank for my OHYS. I’ve been happy with them. Transfers are easy, although they are not immediate. So if you need your money same day this would not be good for you.
Wanted to remodel my kitchen and this video pops up, now I wanna save instead...frustration is real...smh.
i didn't receive your email that has the goal tracker
Man, thank you for these type of videos! They really help to stay on track🤝
You’re really handsome and smart ☺️
well done. As a personal finance coach before i retired two years ago (to live/travel outside the US), i worked with clients on the same emotional issues. while the video started out on the approach, delving into HOW to understand your emotional history with money was missing. the solutions you provided were logical and action oriented and did not continue to along the initial "emotional" journey you started on. perhaps consider an overlay around core values to help determine WHAT and WHERE you spend money to continue along the same thread that you started on. well done and i enjoy the content as well as the time and effort that you put into it. keep it up and best of luck on your journey
just buy what you need
Whoa you halved your income? Wild.
Doesn't better help have a history of disclosing confidential info from people using their services? Not sure I'd trust taking them on as a sponsor
please don't forget to add the coffee pods, sugar, milk, electric bill. hehe
time is money, a lot of wasted money watching this video
I’m buy jeans are even five years and years if you buy them from Walmart
I think im gonna be a millionaire 🔜 nice vid
I automate all of my savings moving money out every two weeks, same with mine and my wife's IRAs. My 401k is already out of my paycheck so I don't even think about it. I've had it set at 18% for 4 years.
what about the coffee costs, sugar, milk, electricity plus the coffee machine. hehehe
My favorite days are when you post 🙏
❤
You think Kohl’s is cheap?!!! It’s as expensive as Macy’s!!! 😂😂😂
5:45 before the down vote, not bad
Reminds me of when Mc chickens were only $1 back In the day I would hold off on spending $10 because I would say I can by 10 mc chickens lol
Pineapple pizza rocks !!!
I think Vincent needs to improve his speech.
Cost per use is a great thought exercise