10 personal finance lessons that changed my life
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- Опубликовано: 29 июн 2024
- My course Master RUclips is now open until Nov 18th! Click here to learn more & enroll 👉 www.slowgrowth.com/master-youtube
Amidst the minefield of questionable financial advice online, I've found some strategies that actually work. In this video, I share the 10 biggest personal finance lessons that changed my life, taking me from a broke college student to a financially free 34 year old with a healthy prostate.
📚 Personal Finance Books I recommend:
I Will Teach You to Be Rich: www.amazon.com/Will-Teach-You...
The Barefoot Investor (good for Aussies): www.amazon.com/Barefoot-Inves...
Rich Dad Poor Dad: www.amazon.com/Rich-Dad-Poor-...
Money Master The Game: www.amazon.com/MONEY-Master-G...
The Total Money Makeover: www.amazon.com/Total-Money-Ma...
Hi there 👋 If you're new to my videos my name is Matt D'Avella. I'm a documentary filmmaker, entrepreneur and RUclipsr. I've made a couple documentaries for Netflix. I also teach courses on everything from filmmaking to habit change. If you like to nerd out about self-development as much as I do, you can subscribe for weekly videos.
🔗 LINKS
Enroll in my habit's course: slowgrowth.com/simplehabits
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🎬 CREDITS
Directed by Matt D’Avella
Produced by Emma Norris & Matt D’Avella
Cinematography by Kariza Santos & Matt D’Avella
Edited by Matt D’Avella
Animation by Spencer Torok
Design by Carly Berry 
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This is financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR. If you don’t want to invest…learn. If you don’t want to learn…build. If you don’t want to build observe. DO SOMETHING…other than leave. There is so much opportunity here. Take advantage!
Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.
Having harbored financial concerns throughout my entire adulthood, it's intriguing to watch this video and recognize the potential for significant achievements with proper goal-setting. Experiencing the freedom of not being consumed by financial worries that haunted me for numerous years is genuinely liberating. I believe this is the outcome of consistently putting in diligent effort for the future.
Impressive insights! Navigating and staying informed can be challenging for newcomers. Are you an experienced investor, or do you adopt a systematic approach to stay well-versed?
She seems quite knowledgeable and well-educated. I just Googled her name and found her webpage. Thanks for sharing!
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.
@Zahair O'Brian Do you mind sharing info on the adviser who assisted you? I'm 39 now and would love to grow my stock portfolio and plan my retirement
@Zahair O'Brian I just Googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes.Thanks
1 2:35 - Income isn't everything
2 3:49 - Diversify your income
3 4:35 - Invest in yourself
4 5:34 - Say yes to everything
5 6:03 - Move in with your parents
6 6:46 - Stop buying things you don't need
7 7:18 - Track the important stuff
8 8:12 - Read one personal finance book a year
9 8:43 - Cull your social media feed
10 9:17 - Celebrate your progresses
You're the hero we needed
you're an awesome person. Have a lovely day!
I love you. ❤️
People like you do the greatest social contributions of this century.
You are a gift of God.
The video starts at 1:35 and here, i summary the video to save you from spending 10 minutes of watching general tips and ads:
1. Income isnt eveything. Pay attention to your expenses. That is the most important.
2. Diversify your income. Have a different source (e.g. side hustle)
3. Invest in yourself. Learn something, spend money to make money (e.g. good education, good equipment)
4. Say yes to everything.
5. Move in with your parents. To cut your rent expense
6. Stop buying crap you dont need (e.g. expensive cars, clothes)
7. Track the important stuff. Know your progress and financial situation.
8. Read one personal finance book a year. Just to make you updated on new things
9. Cull your thing. Filter the information you saw on internet
10. Celebrate your progress. Celebrate your milestone to give you motivation to keep going.
9. Cull your FEED. Culling your thing seems like manscaping...
Thanks
You’re a legend save me ten mins ;)
Thank you.
I'll make it even easier!
I am 47 and since I was 18 years old after getting some good advice, I follow #1 (watch expenses) and #6 (stop buying crap) to a tee which served me very well.
For #8, I highly recommend the book Rich Dad, Poor Dad. It really opens your eyes up to how to really think about personal finance. If you don't read the book, this is the takeaway from it.....start a business and invest money, don't work for a company, *build* the company!
Personally, I need to work on #2. My previous side hustles didn't amount to anything, but it's super critical to have a side income in case things get bad.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person
Impressive can you share more info?
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
I'm not even kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it, Investing is a long-term game, so I try to focus on the long term.
I cannot focus on the long run when I ought to be retiring in 4years, you see l've got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/ unstable market doesn't provide any calculated risk opportunities to make profit?
There are a ton of strategies to make tongue wetting profit particularly in a down market, however such advanced trades must be done by proper market experts
I totally concur, I have been consistent with my profit regardless of the market conditions, I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2020 this time with guidance from an investment adviser that was recommended by a popular economist on a popular forum, long story short, its been years now and I've gained over $850k following guidance from my investment adviser.
I've been down a ton, I just hold so I can recover, I truly need assistance, who is this investment consultant that guides you
If that is the case, it would be an innovative suggestion to look out for Financial Advisors like Olivia Maria Lucas who can help shape up your portfolio.
Trying times are ahead, and good personal financial management will be vital to weather the storm.
Don't forget that you can always rent your books from the library, instead of purchasing them right away!
or you can get them for free on the internet. kek.
zLibrary is king
Depending on where you life…
just bought $220 on three cfa investment books... not really.
Digital checkouts w/ Libby
Yeah finance is cool Matt but how did you get your arms so big?
Indeed. We need top 10 advices for big arms that can save you life
Didn't thought to see you here go film some skating with dan
Didn't thought to see you here go film some skating with dan
minimalism lifestyle, maximalism gains
"School is important but big biceps is importanter"
"Imagine reading the left side of the menu first." That hit hard.
When me and my wife were in college, #broke, we never ordered queso at Mexican restaurants. Now we order queso everytime and she says "I'm so glad we're queso rich" were not wealthy or even close to it but we're doing well and it's a good reminder.
Yep, it hit me like a train... very good saying
Can you please explain what it means?
I wondered when I heard and then I saw this comment :)
@@natiagogichaishvili3556 In a restaurant/bar menu, you will always have 2 columns... the first left column is for name, the second right column is for price of that specific item...
If someone doesn't have enough money to spend, he/she will first read the prices of the items, then order what's the lowest priced meal...
Now, if he/she wouldn't care how much money will spend, will first pick whatever he/she want to eat, not what the cheapest option.
@@alexradu1921 oh, I see 🙈 thank you :)
Stocks are falling and bond yields are rising, but markets still don't seem convinced the Federal Reserve will pursue plans to keep increasing interest rates until inflation is under control. I'm still at a crossroads deciding if to liquidate my $150,000 stock portfolio, what's the best way to take advantage of this bear market?
These strategies are quite rigorous for the regular. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset.
@@yolanderiche7476 I’ve been on both end of the spectrum, I was investing on my own for about years, did my own study and analysis before actually buying, things became rather difficult not until a colleague introduced me to my current financial advisor. She has helped me convert my $50k portfolio into $350k.
@@lolitashaniel2342 That's impressive! I could really use the expertise of this advisor, my portfolio has been stagnant.... Who's the person guiding you?
@@edelineguillet2121 my financial advisor is 'STACEY LEE DECKER'. I found her on a CNBC interview where she was featured Afterwards I reached out to her. she has since then provided me with entry and exit points in securities I focus on.
@@lolitashaniel2342 Thank you for this tip. it was easy to find your coach. and I conducted thorough research on her credentials before scheduling a call with her. Based on her résumé, she appears to possess a high level of proficiency, and I am grateful for the opportunity to speak with her.
Investing in stocks can be an efficient way to build wealth over time. The key to making money in stocks is remaining in the stock market, investors often move in and out of the stock market at the worst possible times, missing out on that annual return.
@Joe Robert Trading stocks can be very lucrative when done right but will only lead to losses if you go about it the wrong way. I’ve made losses of over $10k trading as an amateur but right now my yearly trade profits is about $400k. You should probably seek guidance for more profitable trades.
Investing and trading goes hand in had but I’ll rather stick to investing.
@Rahul Toggi actually my investment coach Dan Raziel helped in achieving those profits. He started handling my trades 3 years ago and in my first 6 months he earned me a trade profit of $125,000 with an investment of $24,000. Quite enough to make up for all losses I made as an amateur. it’s been a life changing experience.
TradingComple x
@Joe Robert that’s him ☝️
Matt: move in with your parents.
Me: i never left.
Great video Matt
BANK the money you would be spending on rent, if you are still living at home. I have never rented in my life, because I had the discipline to save 90% of my income while living at home.
I bought my first house at 24, and was working since I was 10 years old.
@@canadude6401 laws against child labour?! how the fk
@@SirMopy paper route was my first job at 10.
@@canadude6401 jesus that's sick! nice!!! good to learn about money at young age!
I can attest to her advise, I lived pay to pay, worked for other people making ok money but making them more money and got 12k in cc debt, I really had to sit down with myself, realize I was blaming everything else for my problems and really looked at how much money I was paying for the debt, I got furious with myself, this was in my late 30s. I did a nuclear assault on my cc debt making payments weekly, once I freed myself of that burden I invested in stocks, started my own business, it's been a hard long road and I'm by no means wealthy but I am rich and I work for myself and not living week to week, 14 years later I own a boat called the S.S Juliaa Advice for younger people - Don't give up! Sometimes it takes years to get yourself setup, wipe the word "can't" out of your vocabulary, surround yourself with positive successful people(success means more than money). I could also go into eating well and keeping a clear mind.
i'm happy there are lots of people doing so well...Love this channel for the transparency
How did you invest in stock, where did you start, it’s so complex, I know this because I’ve tried so many times
@@donaldlocher2537 I work with an FA, honestly, I didn’t know so much about it when I started either
@@harleycartley3138 How do I get to your FA please if you don’t mind, I’d like to start investing as soon as possible because at this rate I might never really be able to afford the luxury I’m looking for
@robertthurmond8161 I work with James Fletcher Brennan, he’s a licensed CFA so look him up, he’s the best
“Everything in life is easier when you don’t concern yourself with what other people are doing”
Hope you have a good Monday 💜
Perspective we all have different lives and journey hope you have a good Monday too ❤️
Yes
SO TRUE!! If I would be listing to the people around me I would be poor. Stay focused and don't fall into the trap of "keeping up with the Jones".
Having recently sold a property in Portland, I'm contemplating investing the proceeds in stocks. While many claim it's an opportune moment, I'm uncertain: Is now truly a favorable time to enter the stock market? When can we expect a complete recovery? Moreover, I'm puzzled by how others in the same market are achieving gains exceeding $450k within months.
If you're in need of guidance, it's worth considering consulting a financial advisor. While self-management is possible, financial advisors bring a wealth of knowledge and expertise to the table.
The significance of advisors often goes unrecognized until emotions cloud judgment. I remember a couple of summers ago, during a challenging divorce, when I needed significant assistance to sustain my business. Turning to licensed advisors, I discovered someone highly qualified. Despite inflation, she played a crucial role in boosting my reserves from $275k to $850k.
Please who is this consultant ?
'Laurelyn Gross Pohlmeier' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I conducted an online search for her complete name and located her page. I sent an email and arranged a meeting with her; now, I wait in anticipation for her response.
Stocks are falling and bond yields are rising, but markets still don’t seem convinced the Federal Reserve will pursue plans to keep increasing interest rates until inflation is under control. I'm still at a crossroads deciding if to liquidate my $117k stocck portfolio, what’s the best way to take advantage of this bear market?
While there’s more pain to come, investors should look for stocks like Royal Philips NV and Alstom SA that have been beaten down enough that they’re a bargain or get a good portflio manager..
@Stanley Edwin heard it's a good time to buy and basically I've just got cash sitting duck in the bank and I’d really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up..
@Stanley Edwin I just looked her up online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals..
Lifestyle creep, yes, you should not inflate your lifestyle, but items that have been on the wishlist for months or years, a vacation that you dreamed of, you totally should spend that money to reward yourself. Putting all your extra cash into the investment to compound savings is good for retirement, but spending money in your 60s is never as exciting as spending them in your 20s-30s. DON'T be too harsh to yourself, paying for a reward is the same as paying for your mental health. You just need to control how much you actually spend.
One Word - BALANCE ⚖️
THISSSS!
Definitely agree with this
It’s also important to remember on the opposite side, sometimes you don’t need a vacation as much as you think. You’re probably just bored and unchallenged.
If you’re working constantly non-stop (including things that people don’t consider to be inherent work such as cooking or driving or showering after a long work day), sometimes all you need is a day or two to unplug and that’s it.
Tbh I think of lifestyle creep more with the small things, buying name brand items instead of supermarket brand despite the fact you can barely tell the difference. Buying coffee on your way to work instead of spending the couple minutes making one at home. Small things that slowly start becoming the norm and definitely add up over time. I feel like those represent more of a "creep" than deciding to spend a bonus on an expensive vacation
The stock market is still one of the most potential places to invest your money, if you can manage the risk then you can take advantage of the stock market to secure your financial position and earn money.
Having adequate orientation or knowledge about bitcoin trade or any other crypto currency is a key to a profitable, and a successful Investment
Hello, I'm a newbie in crypto,, what's the best way to get started with trade cos I've been making my personal research for a while now,no positive result
Hellooo, I'm from Korean
How does this market stock really works?
I want to invest my money in cryptocurrency but I don't know where to start
Trading with an expert is the best strategy for newbies and busy investors who has little or no time to monitor their trade
Trading with Mrs Jane Rucker made me realize that rather than gamble on long term investment and still losing to dips it's better to trade crypto on short and make profit. I trade under her.
When it comes to investment, diversification is key. That is why I have my interests set on key sectors based on performance and projected growth. They range from the EV sector, renewable energy, Tech and Health.
The market is so volatile now to be depending on bull run to make profit,I advice everyone to trade now with a working program with like that of Kathy Genelle Britton so far she is helping me find investment that has significant growth potential.
The best way to find that balance between saving and living is by investing. This way you get to have your saving intact and then live comfortably off the revenue coming in from your investments. Financial freedom is possible, you just need to know what to do and when to do it. I am a living testimony.
The market is constantly evolving with newfeatures,trading,opportunities,financial swings with sudden surprises around every corner the best thing is to stay in touch with a professional
I’ll take investments in stock any day they’re very remunerative only problem I’m having is I really don’t know how to go about it,I do get lost and overwhelmed by the markets. Any solid pointers in reaching this trader would be helpful,I’d appreciate if I got a reply
Nice content. To me, trading the stock and crypto market is way better than any online investment
*"Wealth consists not in having great possessions, but in having few wants." - Epictetus*
I read that and went "Damn!"
You're right! I should just have less wants!
I read ""Wealth consists not in having great possessions, but in having few PANTS". which might not be that wrong.
Yup
Nice, where can i buy these few wants?
You've posted a similar comment on Steph And Den's channel, lol...
The importance of mentorship from an expert cannot be under estimated. Without proper mentoring one tends to opt out of the market early after making lose. That is why I prefer trading with expert Rodger. His technique is mind blowing and highly profitable.
RMkarl
I'm fascinated with investing, I’m delighted to engage in this opportunity, I just found the professional’s web page and have already written him.
Having the requisite strategy to pull off profit in this market is one thing and having access to the exclusive market information is that isn't disclosed to the public is another, that's why the pros are killing it this period.
I found him on CNBC interview where he was featured and I reached out to him afterward. He has since provided entry and exit point on the securities I focus on.
All good tips! I’ve been debt free for a month now and it’s so liberating. Personal finance and credit usage needs to be taught a lot more in school
School also doesn’t teach you to buy things so it’s really on you digging your own hole.
Congrats and I agree should be in schools
If lets say, 80% of people have healthy savings, businesses would not grow as fast as they do now, the economy would slow down heavily.
There is a reason why they don't teach these things in school.
Congrats dude! Hope 2022 is treating you well 👊🏻
@@JakeKelsick thanks you too!
Still remember 7 months ago, I clicked to 1 of your videos about personal finance and it completely changed my mindset about money and encouraged me to self educated myself about that. I am lucky to start to think about personal finance when i am at my 20s, instead of 40s =))
I’ve just started “no spend November,” to be followed by “don’t spend December.” I am debt free and live a comfortable, minimal life, but challenging myself makes me more mindful of my spending. Great video!!
10 lessons in 10 minutes, wow! The pace of this video is perfect, I can see why you've launched a Master RUclips course. Peace to all ✌🏼
Whenever I watch one of your videos I get super excited about my blog. They help me sort things out in my head about how I want to publish any specific post- like just now :)
Followed the Ramsey plan, got debt free and building wealth!
Lesson 11. Invest! Once you have a budget for saving and not spending on stuff you don't need and paying down your credit debt and chipping away at student loans, definitely invest in stocks; tech stocks will only soar when semiconductor chips start rolling out. I have never lost money in my Apple, Google, Netflix, investments.
Better yet, invest in generic ETFs that mirror the market.
I'm currently living with my parents and I disturb them all day by telling what I read everyday . I think unknowingly it is a great way to remember what you read. And now I’m currently about 80% through "Playbook to Millions by Grant Cardone. I have read a lot of entrepreneurial books and self improvement books, and this book is my absolute favorite. This book is extraordinary and really gets you to work extremely hard toward your goals in life and succeed at multiple different areas like personal finance, business and career. This is an absolute must buy if you need a push to get you going in business or you want more out of life.
Lighting and storytelling is always on point! Oh and the advice is great also. Another great video Matt.
Did you just monetize a foot massage? That's next level! 🤯😂
Love the work you go Into the story telling plus the financial advice is awesome inspired me to start my own finance channel
My current goal is to get that dope mustache @ 9:33, then take a student loan for my MBA and then pay it off! But first that smooth stache! You are an inspiration Matt, you are!
this gives so much great perspective on personal finance...love it matt!
Glad you're reducing the stigma behind living with your parents, for some of us it's just a necessity
boomer here: i'd LOVE to have my young adult kids come back home! no cap
I live in a populous city and the rent here just keeps getting higher and higher. I still live with my parents and have yet to buy my own car. I want to be independent but the few times I’ve gone to the dealership they turn me away because I don’t have enough credit history or enough money for a down payment. I always pay my bills on time and it’s extremely frustrating knowing I can’t just get a damn car let alone a place to live. The upside is that not having these huge bills to pay that come with owning a car and home is that I’m more free to make own choices when it comes to employment. I quit my job yesterday because the workplace was getting toxic and if I had a car or home to pay look after, I probably would have felt forced to stay working at the job even if it was stressful. I have enough in my savings to help my parents and feed myself until I find another job but idk, just some thoughts of a 20 something year old graduate living at home. ¯\_(ツ)_/¯
@@rosar.4293 sounds like you've made smart choices! All the best to you in finding a more compelling job! :)
Intergenerational living can build wealth and security, it may not be common in the U.S., but no one should be embarrassed by it.
Love this! Just paid off my coding bootcamp's loan two months ago, and now I have two gigs at the same time which pay handsomely. My first long-term goal is to purchase a house, because yes rent is so damn expensive!
Being financially free is a goal for many people. It generally means having enough savings, lnvestments, and cash on hand to afford the lifestyle you want for yourself and your family. Historically there has been no better way to grow your money than through investing. I grew to a 7 figure mark well-diversified portfolio having exposure to different prolific lnvestments
This is a shocker seeing Genevieve Glen Rogers mentioned here. I always had mixed feelings about hiring an advisor. For the record, I started working with Genevieve in 2019, and she manages about 70% of my lnvestments, while I manage the other 30%. My philosophy is that I care more about my own money than anyone else, but she made me accept that financial advisors have wealth of information on current conditions and future trends
Great video Matt, this is a solid overview of personal finance that is simple, approachable, and broken into bite-sized chunks. 🙌
The connection you made to a prostate exam at the start and end.. Masterful *chefs kiss
The philosophy of the rich and the poor is this: "the rich invest their money and spend what is left. The poor spend their money and invest what is left".
Interesting, most people don't understand the market moves and tend to be mislead in facts like this and always depend on Money in the Bank very bad idea.
It's nice to hear people discuss about investment, because investment always beat cash.
I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do because I have no idea of how and where to invest in?
as a newbie investing in crypto will be best for you, I know of a portfolio/investment manager, Mr Chris James,and expertist in trade investment as you don't have to under go any stress in the trades, he manages my trading.
I'm happy to see Mr Chris James mentioned here, My spouse recommended him to me after investing £4000 and he has really helped us financially in thu times of COVID-19 lockdown here in Australia.
Great tips, Matt, thank you for your list of favorite finance books
Thank you for sharing this insightful video on money advice for life! I appreciate the practical tips and the personal anecdotes, and I feel much more equipped to make smart financial decisions going forward. Keep up the great work!
Slow and steady wins the race. No one successful ever got to where they are overnight. Great Advice! 👍🏻
Love the breakdown. I've gradually built my finance and made my first $100k through investing, and with what I’ve learned over a decade investing, given enough time, solid investments have the potential to double the initial principal amount, but many investors are instead attracted to the lure of high yields in short periods of time despite the possibility of unattractive losses before even getting out. So the onus is on newbies to beware.
What ways would you recommend to someone who has no experience whatsoever and looking to make some money investing?
@@bernadshrimp186 As long as you diversify your portfolio, any single stock that you own shouldn’t have too much of an impact on your overall return. If it does, buying individual stocks might not be the right choice for you, as you can also try out the Roth IRA or I series bonds. Even index funds will fluctuate, so you can’t get rid of all of your risk, try how you might. With guidance, these are achievable. Levi Clemans, a pro Fiduciary oversees my portfolio. You can look him up online, and connect him.
@@emeliacarton4756 Thank you for this tip. it was easy to find your coach. Did my due diligence on him before scheduling a chat with him. Also, brilliant résumé I must say! Got started right away!
Another gem about is that successful investment is never about being right. It's about doing thee right thing and sticking to "YOUR" plans and strategies. That's what smart investors do.
With Clemans' oversight, I’ve been able to select well run companies with strong finances and a history of shareholder friendly management practices that have made me good gains in the past months.
You didn't mention that if you move in with your parents that that doesn't mean the financial burdon of supporting you should on your parents. Pay for food, help with the increased utility costs etc. It's unfair to expect those costs to covered by your parents unless that is what they want to do.
Good point. To be independence means paying your own bills. I would not use my parent bc they already raise you and spent money/time to raise you.
Very good point. I am in my late 40's and my parents made me pay "room and board". I didn't think it was nice at the time, but it taught me a very valuable lesson about money management and paying bills. I saved most of my money from my PT jobs and bought my first house at 24! I lived with them up until that point.
I will do the same and charge my kids "rent" but with one difference. I will surprise them with a cheque when they move out with the accumulated money in an index fund and stock market account.
@@canadude6401 how can we learn if we were always paper? Paying bill teaches us responsibility and accountability. Its a great practice that show love and teaches respect of oneself.
I thoroughly enjoyed this video! Just clicked the like button and subscribed - looking forward to more great content from your channel!
Thanks Matts this give me a push that I need I’m just two months to be financially free but has been a long trail.
I really hope this clip is on par like your older ones! Keep it up Matt, i've been watching your channel for a while now.. gotta' start my own journey for financial independence! Wish me luck! Take care guys
GOOD LUCK, man!!👍
Love the financial videos, Matt. Helpful insights.
His videos are really good! Reason why I started my channel about finance, just to help people with financial education!
great video as always
and that last line was the cherry on top
Master RUclips is so practical! I was one of the first students to sign up and it's SO GOOD!!! Quite literally the best thing I've ever seen. I wanted to give you a video feedback but I've been so busy lately that I couldn't. Sorry!!!
Thank you for saying Lesson 5! All the cool kids don't want to do it or admit it but living with your parents is a smart move financially. We live in a diff generation than before. As long as you are moving forward in life then there shouldn't be any shame associated with that.
I have a different take. It's not about shame, its about growing up, shaping a meaningful lifestyle, and "moving forward." It's financially smart because your taking from others - your parents. Mental health and precarious life circumstances are valid exceptions, but choosing to remain a dependent inhibits personal growth and borders on exploitation.
To be honest, moving in my parents isn't an option. It was incredibly abusive. It hindered me more than anything. I'm not willing to go back.
Thanks for being my inspiration matt!
My life has gotten better!
Thank you for this great video! I have been contemplating what I need to think about and do to get started with obtaining my financial stability. You have armed me with good information and tools to move toward my goal.
Great video brother and thank you for the book recommendations!
I came here to learn how to trade after listening to a guy on radio talk about the importance of investing and how he made $460,000 in 4 months from $100k. Somehow this video has helped shed light on some things, but I'm confused, I'm a newbie and I'm open to ideas.
Investing in crypto is a good idea, a good trading system would puts you through many days of success.
I've been making passive income monthly from crypto for over a year tho' I prefer trading with the help of a professional broker Nora Hendrix because she saves me time and reduces the risk of losing funds in trading as we all know how volatile the market is.
@@gerradeanderson2204 Interesting. I've a huge sum of money doing absolutely nothing at all in my bank account, i wanna gets something started with it. You seem to be doing excellent for yourself, how do you achieve this?
@@davidsonemerson4177 Am trading with expert Nora Hendrix, a regulated broker in US, Met her sometime early last year at a start up funding event. She has some interesting things to say about the state of algorithmic trading today. Obviously I'm seeing the results.
Consistency is key, I've been investing with her for months now and I've made alot of profit from her. Most of those traders who offer to give you 50% of whatever you invest might scam you of your hard earned money...Forex ain't that easy you know, so i advice you also start investing with Mrs Nora because she is the best broker ever.
When you are still a student, go abroad for a student exchange. In addition to so many other life lessons, it will also teach you to live happily with no more stuff than can fit a suitcase. You will learn what you really need, and what is just extra.
You know what, I did global exchange and it was the best thing ever! You really just reminded me how good life was just living out of the means of what could fit into my suitcase - and boy was it glorious. It really allows an emphasis on enjoying experiences rather than objects. Thank you for your comment!
@@laurakorn9153 you're welcome. I've done two exchanges back in the day. One to Malaysia and another to South Korea. Especially the latter one was some of the best time of my life, and a cherished memory.
untill you get registered extra luggage :P
I lived in dormitory and this is exactly the experience you descride :)
Absolutely brilliant video, thanks so much!
Matt's videos are therapy 💚
Highly recommend 'The Barefoot Investor' and glad to see Matt does too (in the description). This book kick started my transition from paycheck-to-paycheck to opening up world travel and the beginnings of financial security 🙏
Rich Dad Poor Dad is, despite it's controversy, really change my financial life. I am no where near rich right now, but debt free and slowly build something 👍
me too. I don't really care for the author, but learning about depreciating assets and the way the rich cycle through money is a game changer.
@@canadude6401 Yeah, that is strange school doesn't teach us this thing in the first place
@@nw9517 I think all schools are so steeped in tradition, that they teach the same way year after year. "Get a good education, get a good job, get the white picket fence, etc."
I think education is important, but I often scratch my head at the amount of drops outs and those who don't enrol in Universities become such amazing business people and innovators.
Personal finance education is so critical!
@@canadude6401 agree my dude, agree 👍
This was sooooo good. I love the structure and the content.
Nice, keep preaching this!
When referencing corporate America, he said “They don’t really care about you as they make it seem” realest thing he said...I’ve seen experienced it first hand in the DMV. Black ppl aren’t really respected in corporate America. Glad that he was able to get out of there and become his own boss DailyWebEARN🎡NET
Rich people don't respect poor or the middle class people not just black people.
@@javier.alvarez764 Don't say "Rich people" because Not all rich people are like that. Also, there are poor people who don't resect rich or other poor people.
Saying, "black ppl aren't really respected in corporate America" is ignorant. I'm black in corporate America and I come from poverty. I experience the EXACT SAME HATE from certain white people that I experienced from black people for many years before coming into my career. Stop playing the race card and be the best you can be. There will always be someone out there that hates you for whatever reason whether it be your race, eye color, height, weight, life decisions, career, and the hater can be any color. What is important is the choices that YOU MAKE.
I will forever be indebted to you, you've changed my whole life and i continue to preach your name to the whole world to hear you've saved me from a huge financial debt with just little investment, Thanks so much Mrs Paula David.
I'm surprised you know her too, I've been making a lot of profit investing with her for a few month now.
Great to see you guys talking of Paula, Trading on your own can be very dangerous i can testify to that. This woman changed the game for me.
You invest with Paula too? Wow that woman has been a blessing to me and my family. I was skeptical at first until i decided to try. Its huge returns are awesome, can't say much.
Do you mind hooking me up with her, I'm new at this
I also make huge profits in stock market by trading with her weekly, her consistency is crazy, haven't seen anyone so determined to make her clients profits as Paula. How she allows you express your fears and still calms your fears is something I admire about her. I don't usually comment on videos but I must put the word out there. She's really great.
All excellent points and I think income plays a big part as well, especially when you have a family and live in the high cost of living states.
Great advice Matt! I admit I fell off my personal finance goals temporarily, but I'm attempting to get back on track as we speak.
If you're reading this, keep hustling!
Hey, hope you are back on track with your personal finance by now!! Have you been able to save money and maybe could already invest?👍
Take control of your personal finances and you take control of your life. Great tips, Matt!
moving in w my parents has truly been the best financial decision I’ve ever made
I'm sure your parents also loved to have you around! Have a great journey!!👍
Thank you, reallly needed it
Love your videos. Thank you.
Thanks to you I’ve started etf and save every month!! Now I’ve started my side hustle thank you this community 😂!
Great and comprehensive video on personal finance, thanks for sharing your experience
Great video! He gives me so much inspiration with my channel!
@@MichaelOblitey Agreed this was great! Check out Financial Nutrition for similar content!
There has always been a lot of excellent financial advice out there.
have a great one Matt!
Matt you gotta share your wardrobe secrets man, your outfits are straight dope.
He wears the same pants and did a vid about wearing the same shirt, it’s just minimal style that emphasis is beautiful body.
Me personally when I worked long ago I had my check broke in 25% went to another banking account that was a savings
Quit the job years later out it all
Being smart or not at the time I. Tesla when it was 259 a share
Now it’s 1200 ish
Love the advice out it aside and forget about it or make it forgettable such as divided salary payouts
Most jobs can do it
Superb, first time saw your video subscribed instantly after watching. Great content and way you presnt it..
He does a very good job explaining things. I hope to be like this on my channel!
Oooh I am so, so close to signing up for the course! x
Noticing the window to buy isn't going away? no rush the timer is in a loop dw
Loving this video!
Point 5 - Hello! 👋 Aged 39 and I moved back in with my mum in order to start a new career. At first, I felt a little ashamed of doing this, but the reality is wonderful. Spending time with my mum after many years of being 'busy.' She is very supportive of my goals and my rent is cooking lunch and dinner every day (which I love!)
Point 6 too - yes! So easy to look for crappy purchases to bring joy to life, when in reality it's just the thrill of the purchase and delivery, then the object sits in the cupboard gathered dust.
Fab video, thanks for the reminders 🙌🏼
Laura, YOU ARE AWESOME!! So cool that you do your thing and you should not feel ashamed AT ALL!! Take advantage of spending time with your family and I'm sure you'll hit the road running with your financials once you're ready!! I wish you lots of luck & success!!👍👍
No one is more impressed with your stuff than you are. Once you realise this, it takes a lot of pressure off the social treadmill / rat race of having to buy new fancy stuff. People who control their destiny and their time are who I really admire.
That is an excellent perspective. Pride in objects really does come down to the individual. I love a lot of my things, but most people around me could care less. 😂 I deep cleaned my 11 yr old car recently (steam cleaned the seats AND floor boards!) but I was the only one who was the proudest of it LOL. To anyone else it's just my car.
I agree. Only get what you like not what you think others like
No one can control destiny!
If you believe the otherwise, it means you haven't experienced how powerful the destiny is.
But you have absolute control over your time (as long as you are free)
I wish your destiny be inline with what you desire
That first line totally resonates. Thanks for that. 👌🏻
@@aniazurek7258 No problem at all, it's a great thing to keep in mind - especially these days!
A great informative video so thankyou. Subscribed for more.
Natalie needs to star in the videos, her funny personality & charismatic screen presence is off the charts! Pls never do another video without her in it!!
I love ur videos, they helped me a lot with time management
Hey Matt, congrats and good luck with the course! I'm sure it will be super helpful for the students and great ROI. But I have to mention one thing... Please don't be one of those who do the "I'm not going to plug my course here" plugs. It's obviously meant to be a plug, just subtle, and sure the way you did it here with slight sarcasm is far better than how most do it. For long-term benefit, I think influencers should just honest plugs when they need to, whether it's sponsorships or own products, but no "hidden" plugging. Transparency and honesty are so important when building a relationship with viewers, and anyone who has the slightest ability to read others can see the fakeness in hidden plugs. Again, you're defnitely not the worst at doing this but just wanted to mention it anyway.
Sone awesome tips! Finance is such a big deal in our society. Still a lot of people don’t know how to start saving money.
Good video advice - a few other things : 1.) One good book not listed is "Your Money or Your Life', by Joe Dominguez and Vicki Robin. 2.) use the library - you need to read books, not necessarily buy them. 3.) Interest is your friend if collecting it and your enemy if paying it.
Always enjoy your annual personal finance videos. It is a good reminder for your viewers that this is an important topic to think about! The thing that I always tell people is that it can be as simple or as complicated as you want it to be. The basic principles can get you 80% of the way there. But if you want it to get more complex, you can delve deeper into that last 20% (and the exponential gains that it can yield!).
I just want to let anyone who’s reading this, and going through a tough time know that it’s going to be okay. You’ll get through it!
Thank you for the great personal finance strategies!
A beautiful sharing bro... well explained
Just bought the course, can't wait to dive into this!
The “I deserve it” mindset kills wealth.
Casey the Spammer strikes again! Spamming on Dave Ramsey channel and Minority Mindset!
Casey the Spammer!
To a certain extent yes. However, the "I deserve it" mindset also reminds people to step back and invest in better tools to help them with their craft or to help them take better care of themselves.
Of course when taken too far aka using money you don't have for things you don't need to mask other problems in your life, is a different story altogether.
And diets.
@@IshikaShanai - Casey the Spammer!
Thank you a lot for this great video
Your website is amazing, it was great
Great tips although I disagree with moving in with your parents. Kids rely on this far too much nowadays and almost aren't prepared to/feel like they shouldn't support themselves financially. This puts a huge financial strain potentially on parents who may be looking to retire but have to continue working to support their adult children. Renting with friends and living within your means is the way forward for personal growth and independence!
I lived with my parents, paid for everything myself besides rent until I was 23. (I’m 24 now) This allowed me to go to school full time and get an education for myself. Living life day to day (and especially the cost of school) isn’t as cheap as it used to be, and because of that cultural changes are happening, like people living with their parents a few years longer.
Dont have kids👌🏻
Or pay your parents rent and pay your own shit lmao
I'm with you Laura. With some exceptions, living with parents past college is boarder-line exploitative, but also inhibits personal growth.
It’s a long-term game. Fun to watch and valuable advice. Thank you! 😊
So practical and useful advice
This is a fortune in the form of knowledge and teaching. thanks for sharing this with us