Thank you! I love this video. My father in-law is a retired CPA FA. He has always said "You don't get rich by spending it." People have to stop wanting material things and think about the seasons of their lives.
Funny enough my Mother in law is a CPA and doesn’t understand this. Her and her husband have to work till at least 75. They’ve spent over 1 million on vehicles in their lifetime. They are currently underwater on their current vehicles by tens of thousands of dollars. So glad your father in law has actual financial literacy because some CPA’s really don’t.
Steven said the rebuttal so well. It’s not that he doesn’t agree it’s just he has empathy for their who succumb to the negative forces. I literally lost everything nearly two years ago. But I am more confident now than I was in my 20s. Because I had to first succeed to lose it. It’s only too late if I start too late to get it back.
Living frugally can be addicting snd you begin feeling excited about how you can save by cutting out things you really don't need. The problem many people have is they already limit their expenses. They already do everything they can to stop paying for "unnecessary" things. Expenses involved with maintaining a job can be overwhelming. Car insurance or transportation costs, laundry expenses, personal hygiene because your employer has a policy against smelling bad, clothes or uniform expenses. Child care expenses... It can all feel like a losing battle. Then to add insult to injury, you can't even "live off the land" without being accused of trespassing or vagrancy. The obstacles can become a problem that impacts mental health, too. It's easy to pull yourself up from a moment of hardship. It's extremely difficult to overcome long term hardships. For most people, the advice in this video will help with realizing where the money goes and how to change it so your money works for you. For people who are facing serious hardship - this advice feels like being kicked in the teeth.
I have no social media, no debt, no credit cards so I'm not leaving netflix, I also work from home and at a school. We do not eat out and pay all bills on time. Its not difficult just do it.
@@deliobaoduzzi6450savings money doesn’t make a difference. It just give you “security”. You have to keep upping your income at least every 3-5 years to get make a difference.
Awesome video, love this channel. Love the concept of Seasons for periods of our life. Our life has seasons, interesting way to look at it. Please break up the longer video in these shorter videos, much easier to watch.
If you want to stop living from paycheck to paycheck here are three steps you'll need to take: 1. Live below your means, that means you make short term sacrifices 2. Have more than 2 streams of income that provide stable income (ie: have a job and get another gig going on the side) 3. Keep track of every dollar you earn and every dollar you spend. Then audit yourself every 30 days and find out where else you can cut your expenses. You need to operate your financial health like a CFO of a corporation, that's the only way to save. If you wanna go from saving to become wealthy, you'll need to: 1. Invest intelligently and long term 2. Find businesses you can invest in or start your own business - you need to have an idea, something that people need because it solves a business or life problem 3. You need to think long term and always make long term decisions and not be bothered by short term gains or losses. In other words, you need to control emotions and impulsive behavior.
The only difference to me is that you don’t need 2 sources of income. 1 source can be enough if you have the right skills and education…the second “source of income” can be from your partner. Your two incomes combined can help you build together. 2 sources of income for yourself will have you feeling overworked.
@manoftomorrow5987 you need multiple streams of income. That can be in the form of another job, a side hustle, an e-commerce business you've started, etc. Most people can not save money from one job, and if you're talking about 1 source of high paying income, that's not how 99% of the world works nor does everyone have a partner. This is about you, just ordinary young men and women.
@ Im doing it, by keeping my expenses low and I focused on leveraging my career skills and education to jump from one high paying job to another. If my wife doesn’t work I can cover all the bills, save, travel and invest comfortably. I’m not bragging but I figured out what I needed to do which was to up my income and lock in on my career and never a “job”. I’m not working 2 jobs just to cover expenses…I have to focus my extra time on my family and doing things I enjoy. I’m very intentional about my spending and savings habits…I haven’t fallen victim to “lifestyle creep” or “trying to keep up with the joneses”. My colleagues, because we all execs, drive better cars and live in much better houses and apartments than me…but I’m good. All without credit card debit and no debt at the moment because my personal car is paid off, which my wife drives to work, and I drive a company vehicle with is a brand new 2025 model year. Once again, I’m not bragging but I focused on my career. I watch a lot of self improvement and finance related topics and I’m also a CFO…which helps. I have to manage my personal finances and the company as well.
I use my credit card to go to 1 holiday per year because for example my daughter is 8 years old her experiment time I want her to have at list one good holiday per year so when she grows up she should not think I didn’t have existing childhood , am I wrong? I have a friend she didn’t spend time with her child so she can earn money give comfortable life to her daughter in future, now her daughter is a teen the mom has money she wants to spend and have good time with her daughter, the daughter don’t want her mom as much as she wanted her in her childhood, because she got the habit of not being with her mom my friend is so upset about it. I think we should not concentrate only in one think wait for a time to enjoy your life or give your child something later because what a 8 years old want now she will not want it 3 years later. I am not rich I know I will be rich one day, I want to be rich. I hope his way is not the only way. ‘’I MEAN SAVEING MONEY NO FUN FOR A WHILE’’
without these ones you cannot live, but agree, these are the big ticket items, but on the side people spend a lot on Shein, Netflix, eating out, Starbucks coffees, etc. It is ok to have one occasionally with your friends, but when it is becoming a daily habit.... that is a whole different thing. This is what many doesnt get... having one is not a sin, enjoy life a little, but not everyday has to be a celebration around spending, find other interests, etc.
Not ONE useful tip, only tips for people who don't have their life in order. I wish he would give advice to guys like me who don't waste money but still have to live paycheck to paycheck.
"Where you put your attention is where you get the results." Profound 🤯
Shut down social media is the first thing need to do. So we are not constantly comparing to others.
You ain’t lying…close that shit down, focus on your long term goals and just understand that things take time.
And also understand that almost everyone flexing has fake biceps (aka debt up to their eyeballs)!
Thank you! I love this video. My father in-law is a retired CPA FA. He has always said "You don't get rich by spending it." People have to stop wanting material things and think about the seasons of their lives.
Funny enough my Mother in law is a CPA and doesn’t understand this. Her and her husband have to work till at least 75. They’ve spent over 1 million on vehicles in their lifetime. They are currently underwater on their current vehicles by tens of thousands of dollars. So glad your father in law has actual financial literacy because some CPA’s really don’t.
Problem now is that one lives paycheck to paycheck just to afford rent, food, basic transport
Pay check to pay check in order to survive is different from pay check to pay check buying unnecessary things
It was eye-opening, for sure. I'm looking forward to watching the whole episode. Lifestyle changes need to happen, especially at my age of 35.
Steven said the rebuttal so well. It’s not that he doesn’t agree it’s just he has empathy for their who succumb to the negative forces.
I literally lost everything nearly two years ago. But I am more confident now than I was in my 20s. Because I had to first succeed to lose it. It’s only too late if I start too late to get it back.
Facts over feelings 💯
This is some good logical advice. I like the way this guy thinks. Can't wait to see the whole episode
Living frugally can be addicting snd you begin feeling excited about how you can save by cutting out things you really don't need.
The problem many people have is they already limit their expenses. They already do everything they can to stop paying for "unnecessary" things.
Expenses involved with maintaining a job can be overwhelming. Car insurance or transportation costs, laundry expenses, personal hygiene because your employer has a policy against smelling bad, clothes or uniform expenses. Child care expenses... It can all feel like a losing battle. Then to add insult to injury, you can't even "live off the land" without being accused of trespassing or vagrancy. The obstacles can become a problem that impacts mental health, too.
It's easy to pull yourself up from a moment of hardship. It's extremely difficult to overcome long term hardships.
For most people, the advice in this video will help with realizing where the money goes and how to change it so your money works for you.
For people who are facing serious hardship - this advice feels like being kicked in the teeth.
True
Ahhh make more money and don’t enjoy life. Such wisdom!
I have no social media, no debt, no credit cards so I'm not leaving netflix, I also work from home and at a school. We do not eat out and pay all bills on time. Its not difficult just do it.
Do you save enough to make a difference in your life ?
Isn't difference already when you are free of debt 😉
@@deliobaoduzzi6450savings money doesn’t make a difference. It just give you “security”. You have to keep upping your income at least every 3-5 years to get make a difference.
Change society so not everyone and everything is about money..... Just an idea
Have you tried: Stop Being Poor?
Just buy more money. ❤
Just stop needing to eat ❤
This is a real conversation
Such inspirational talking, got nothing but ourselves takes a long time to understand that 🙌🏽
"Employees paying the highest taxes" explains almost everything
Awesome video, love this channel. Love the concept of Seasons for periods of our life. Our life has seasons, interesting way to look at it. Please break up the longer video in these shorter videos, much easier to watch.
Jaspreet is such a good guy
The mystic side of Ramit Sethi
If you want to stop living from paycheck to paycheck here are three steps you'll need to take:
1. Live below your means, that means you make short term sacrifices
2. Have more than 2 streams of income that provide stable income (ie: have a job and get another gig going on the side)
3. Keep track of every dollar you earn and every dollar you spend. Then audit yourself every 30 days and find out where else you can cut your expenses. You need to operate your financial health like a CFO of a corporation, that's the only way to save.
If you wanna go from saving to become wealthy, you'll need to:
1. Invest intelligently and long term
2. Find businesses you can invest in or start your own business - you need to have an idea, something that people need because it solves a business or life problem
3. You need to think long term and always make long term decisions and not be bothered by short term gains or losses. In other words, you need to control emotions and impulsive behavior.
The only difference to me is that you don’t need 2 sources of income. 1 source can be enough if you have the right skills and education…the second “source of income” can be from your partner. Your two incomes combined can help you build together. 2 sources of income for yourself will have you feeling overworked.
@manoftomorrow5987 you need multiple streams of income. That can be in the form of another job, a side hustle, an e-commerce business you've started, etc.
Most people can not save money from one job, and if you're talking about 1 source of high paying income, that's not how 99% of the world works nor does everyone have a partner. This is about you, just ordinary young men and women.
@ Im doing it, by keeping my expenses low and I focused on leveraging my career skills and education to jump from one high paying job to another. If my wife doesn’t work I can cover all the bills, save, travel and invest comfortably. I’m not bragging but I figured out what I needed to do which was to up my income and lock in on my career and never a “job”. I’m not working 2 jobs just to cover expenses…I have to focus my extra time on my family and doing things I enjoy.
I’m very intentional about my spending and savings habits…I haven’t fallen victim to “lifestyle creep” or “trying to keep up with the joneses”. My colleagues, because we all execs, drive better cars and live in much better houses and apartments than me…but I’m good. All without credit card debit and no debt at the moment because my personal car is paid off, which my wife drives to work, and I drive a company vehicle with is a brand new 2025 model year.
Once again, I’m not bragging but I focused on my career. I watch a lot of self improvement and finance related topics and I’m also a CFO…which helps. I have to manage my personal finances and the company as well.
This guy is using Dave Ramsey advice. If you want to get out of debt and build wealth then start with Dave Ramsey's Baby Steps!
I use my credit card to go to 1 holiday per year because for example my daughter is 8 years old her experiment time I want her to have at list one good holiday per year so when she grows up she should not think I didn’t have existing childhood , am I wrong?
I have a friend she didn’t spend time with her child so she can earn money give comfortable life to her daughter in future, now her daughter is a teen the mom has money she wants to spend and have good time with her daughter, the daughter don’t want her mom as much as she wanted her in her childhood, because she got the habit of not being with her mom my friend is so upset about it. I think we should not concentrate only in one think wait for a time to enjoy your life or give your child something later because what a 8 years old want now she will not want it 3 years later. I am not rich I know I will be rich one day, I want to be rich. I hope his way is not the only way. ‘’I MEAN SAVEING MONEY NO FUN FOR A WHILE’’
Looks and prowness pays
Figure out how to reduce the three biggest expenses in your life;
Housing
Transport
Food
and then watch your life transform!
without these ones you cannot live, but agree, these are the big ticket items, but on the side people spend a lot on Shein, Netflix, eating out, Starbucks coffees, etc. It is ok to have one occasionally with your friends, but when it is becoming a daily habit.... that is a whole different thing. This is what many doesnt get... having one is not a sin, enjoy life a little, but not everyday has to be a celebration around spending, find other interests, etc.
This guy is just brutal
Lov u2❤🎉
You have to pick a hard 🙌🏾
Not ONE useful tip, only tips for people who don't have their life in order. I wish he would give advice to guys like me who don't waste money but still have to live paycheck to paycheck.
Start Feldenkrais, vagus nerve exercises to get mental clarity.... you need to change something somewhere and you dont see it now yet.
May be you dont have the right wife or gf if she compares her relationship to others with fake status
❤❤❤
Buy meme crypto coins. 🤷🇵🇰
People spend a whole wage on a pair of shoes.