This is great advice. I think a lot of people know this. They are compulsive buyers. They live for the now and don't plan for the future for their retirement. A lot of people don't even have $1000 saved up. Discipline is the key.
Because people want to enjoy life now not when they retire or if they even reach retirement age. People should have at least 10k in savings 1k is very low.
@@Purpose_Porpoise People have given up already.. i mean most people. The fact that you compete aganst billionaires is just stupid. Or some giant real estate agencies that purchase properties and rent them out and not one or two but like hundreds of thousands. The average person can own assets too but its not in their favor because the time is looong gone. I mean having your own house now is accomplishment for some this is nothing. As long as people have roof over their head and money to survive the month is enough and the rest of the cash should be either invested or emergency fund.
at this point, the majority of people won't even see their retirement money. the working class is dying before they turn 65 and those that aren't, are in debt. There's a very small amount of people actually prepared for retirement and unfortunately there's nothing changing that in the near future
Lifestyle is a huge contributor to staying in debt. Something no one talks about his how this generation is less off that their parents. Those who were raised in a comfortable middle class family, now have to adjust to not earning enough as adults to afford the same things their parents had. Its a bigger adjustment that people consider.
We had 45,000 in a mix of personal loans, car, and majority credit card debt. Were down to 23,500 just in the cards. Its still a lot but were slowly getting there.
Man it’s great to be smart and savy with your money but…. What’s the point of living such a frugal life if you’re literally rich? Don’t spend so much that you’re broke but why do I have to live like I’m broke? Love your life and make good choices. That’s it
I used to be poor however I worked my butt off over the years and purchased my first home. I continued to live like I’m poor and was fortunate enough to purchase first investment property with equity. Now saving for a third property while living like I’m poor. Different things work for different people. Looking into stocks as well.
@@SariahSavvyTips Not poor for me means that I can afford to live under a roof with food on the table and buy things without having to worry about how im going to eat tomorrow while also making sure to stay in the positive. Lots of poor people go without food and thats a main thing of being poor also losing more money then you make
@@SariahSavvyTips not having to live paycheck to paycheck. Having a healthy bank balance so that if lose my job I can survive comfortably for six months or more. If need something I can just go buy with cash if I really need it like food for example or a luxury item. Need vs want.
She gave some good advice on the common habits a lot of people need to know about that's making them four for some of us who are all about finances its common sense but for the majority who live care free its not
I just changed my direct transfer from my job to my 2nd account from $300 to $1000 per month. That's $12,000 savings a year that I don't even see in my every day account and I'm not planning on touching it for many years 🎉
I think allot of this doesn’t take into regard the reality of hardships and suffering. You honestly want ppl who suffer to simply not do anything at all and just improve themselvs over what months? Years? Ppl need relief from pain and hardship, if you realize that then you can do your best to curb the issue but to do nothing but save save and work…. Unrealistic for many suffering
I'm doing really well with saving... i think... but having a child in daycare throws everything off. I could be saving an additional $1650 a month if it wasnt for daycare alone. And thats only ONE child! 😭
Me too. Some people say there are more important things in life; but money issues touch on virtually everything. Eating is important to life but money allows someone to eat and possibly eat healthier. There are more expensive and generally thought of as more important parts on a car than tires but if they aren't working the whole car is going nowhere.
@@stevenporter863yea that's what alot of ppl miss The often say " my happiness is the most important thing" and use that to rationalize everything when having restraint with your money undoubtedly leads to that. Not saying money is everything but definitely not a fool enough to believe its nothing in our world. Unless youre a monk or something loll
My question with all of this is what kind of base income makes sense to be investing in stocks and such. If I'm not making enough to fully fund yearly contributions to 401 k and a Roth IRA is investing even meant for someone in this position?
Stocks come in all shape and prices. ROTH IRAs are great for REITs and ETFs, as they yield high dividends and you won't pay taxes on them if you withdrawal the money after age 59 1/2. If you want extra income to help with bills, buy qualified dividend stocks because they come with great tax incentives after holding them for more than 60 days. If you want to take on a high risk stocks, look for new companies, usually those shares are penny stocks and you can buy many for a few bucks.
It's hard for me to take money advice from people that have no kids. All of the points are generally valid, but it's a whole new level to make & save money with kids.
Most people giving financial advice have significantly higher income then the people working the low wage jobs. Also circumstance. Some people are born into some ridiculous unlucky hard lives.
Bro you can’t invest your way out of poverty. The best way to make more money is working a union job. if you don’t have a union at your office than make one, like the sega employees here in California. Saving money is very important but it tiggers me so much when I see videos like this and never mention the importance of unions. It’s not just electricians and nurses that are in unions, now even Starbucks and Amazon are unionized and are currently negotiating a contract. If they can form a Union so can employees at Walmart and Macdonald.
The truth is, people have had life far too easy for their own good. Welfare, Credit Cards and debt have let them live fantasy lives, far beyond what they can afford, what they have earned, and what they deserve.
People wanted to enjoy better things sooner in life and this way of thinking took a lot from us since ir can take one uneducated generation to lose everything several generations aquired. If there werent any loans or cards we would have to save money first. Though the real problem is that we simply arent good at managing money.
"What they deserve?" In France, a nurse earn about 1800€. An influencer can get medium range : 10000€ a month. Who is more deserving? The one saving lives ? Or the one doing nothing constructive? Tchiip. American people. For real.
True but does that make it okay to lure the lesser financial illiterate into bad decisions? I'm totally on the side of capitalism, but at what point do we (as a country or species) realize that we're together? My top example is taxpayer funded College and Health care. Why is there a premium on teaching and investing on our literal kids? Wouldn't it be smarter to investing knowledge and skills on our own young citizens Americans?
I guess it's true what they say about finance. After a certain point you start recycling the same sort of videos. At least it's Financial advice and not get-rich-quick schemes
VOO..VTI, VXUS (international where some people like to combine with VTI), QQQM, SCHD…all ETFs…they’re all decent and usually highly recommended…plenty of research videos on RUclips available plus obv do other research with google etc
Question. Where do you save the money that you pay to yourself? Do you keep it in a savings account? In the stock market? Or just in your checking account?
@@dylanfitzpatrick9423 I do have a Schwabb account where I keep some of my stocks. However it pays almost no interest. I think it is like .02% or something? Is that really the best place for it? Granted, my stocks have gone down due to the very poor performance of the stock market over the past couple years. So at least it would be protected from that.
@@danmeck5978 Do you have one you recommend? I see some require a rather large minimum balance or else you have to pay a fee. What is best to use until you reach a balance that high?
Credit cards are great when you use them responsibly. You get an extra 1-4 weeks to pay the bill. You get 1%-5% back every month. But.... you have to pay it in full every month. I HATE paying in cash. Only do so when someone gives a big discount for cash.
56% of consumers are carrying a balance... they are not paying it off every month. Cc's give a false sense of having money and the points game is not worth it.
@@mmp495 It's worth if if you don't spend more than you can afford to pay off at the end of the month. It's free cash back, but you have to be prudent.
If you need a credit card in order to afford your needs and wants, it's a very expensive idea to own a credit card as you will be paying interest for the rest of your life. Now if you use it for the perks, I personally recommend paying it off every week, cause if you pay it off every month than you're letting your balance build up to where it might hurt your credit score.
What’s wrong with living with your parents? I’m 30. I still choose to live with my parents. I enjoy having them around and making me healthy, unprocessed, home-cooked meals. I pay them my share of utilities bills and food expenses every month.
I've seen many videos with people saying "I have to use credit cards to make ends meet". Umm no, that's not "making ends meet". Making ends meet is keeping expenses below income, not pretending a loan is a synonym for income.
Graham im telling you the stock market is gonna crash extremely bad soon. Don't buy in right now. Should be selling everything you have in the stock market right now really. I don't wanna see you lose money man LISTEN TO ME lol
Lovee to see it. Common sense...but not common practice!! Thanks for the reaction, Graham :)
I look forward to your videos every week, to the point advice, no BS.
Love your work Nischa. Congrats on the rapid growth of your channel. 💪 Very glad Graham has taken one of your videos to work with 🙂
Just common Indian family habits
@@hiteshadhikari mml😊pml😊😊p9😊😊😊9😊😊😊😊😊😊l9😊l
Graham has found Nischa and reviewed her video how amazing she's great!!
This is great advice. I think a lot of people know this. They are compulsive buyers. They live for the now and don't plan for the future for their retirement. A lot of people don't even have $1000 saved up. Discipline is the key.
Because people want to enjoy life now not when they retire or if they even reach retirement age. People should have at least 10k in savings 1k is very low.
@@Purpose_Porpoise People have given up already.. i mean most people.
The fact that you compete aganst billionaires is just stupid.
Or some giant real estate agencies that purchase properties and rent them out and not one or two but like hundreds of thousands.
The average person can own assets too but its not in their favor because the time is looong gone.
I mean having your own house now is accomplishment for some this is nothing.
As long as people have roof over their head and money to survive the month is enough and the rest of the cash should be either invested or emergency fund.
right!
at this point, the majority of people won't even see their retirement money. the working class is dying before they turn 65 and those that aren't, are in debt. There's a very small amount of people actually prepared for retirement and unfortunately there's nothing changing that in the near future
I have 3000 at 19
I love Nischa’s videos. She breaks financial topics down and it always makes sense.
I appreciate you!
Lifestyle is a huge contributor to staying in debt. Something no one talks about his how this generation is less off that their parents. Those who were raised in a comfortable middle class family, now have to adjust to not earning enough as adults to afford the same things their parents had. Its a bigger adjustment that people consider.
@6:30- "When you have nothing to prove anymore you're free." Nailed it!
This is so true and it feels liberating 🙌
Nailed it.
Im single parent I been saving my whole life . Even if it’s $50 a week put something away .
Good work keep it up
We had 45,000 in a mix of personal loans, car, and majority credit card debt. Were down to 23,500 just in the cards. Its still a lot but were slowly getting there.
👏🏽👏🏽👏🏽Good for you.
Keep going 🤞🏽🙏🏽 you got it!!
Halfway there!!!
Man it’s great to be smart and savy with your money but…. What’s the point of living such a frugal life if you’re literally rich? Don’t spend so much that you’re broke but why do I have to live like I’m broke? Love your life and make good choices. That’s it
I used to be poor however I worked my butt off over the years and purchased my first home. I continued to live like I’m poor and was fortunate enough to purchase first investment property with equity. Now saving for a third property while living like I’m poor.
Different things work for different people.
Looking into stocks as well.
What do you consider not poor anymore?
@@SariahSavvyTips Not poor for me means that I can afford to live under a roof with food on the table and buy things without having to worry about how im going to eat tomorrow while also making sure to stay in the positive. Lots of poor people go without food and thats a main thing of being poor also losing more money then you make
@@SariahSavvyTips not having to live paycheck to paycheck. Having a healthy bank balance so that if lose my job I can survive comfortably for six months or more. If need something I can just go buy with cash if I really need it like food for example or a luxury item. Need vs want.
@@SyphonGaming Agreed .It can be wasteful spending in some cases. Been there myself when younger but learnt harsh lessons as well.
Amazed by how quickly her Chanel grow! Good advice, simplified.
I drive a Honda Civic and don't need a car more expensive. You can put that money into investment like real estate or stocks.
Another way to save money is work alot so you don't have time to spend money :D
=way to burn out yourself quickly 😂
Unless your married then you work alot and spouse spends it.
@@Ink30 that wouldn’t make me happy lol but each to their own ;D
Love her! So glad you finally picked up her channel. ❤️❤️❤️
I'm glad you are making such helpful videos!
you got it!
@@ZRO777 😂
Common sense is no longer common sense in this age...
She gave some good advice on the common habits a lot of people need to know about that's making them four for some of us who are all about finances its common sense but for the majority who live care free its not
They increased the Roth IRA contribution limit to $6500 for 2023 just a heads up.
Her channel blew up fast. Wow!
yeah it did
It did! I was shocked :) kudos to her
I watched this on lunch today, but when I got off work I see Graham react to this. That's crazy
I just changed my direct transfer from my job to my 2nd
account from $300 to $1000 per month. That's $12,000 savings a year that I don't even see in my every day account and I'm not planning on touching it for many years 🎉
That’s amazing! I have a similar saving rate with my husband 1k each. Hoping to achieve even better next year
@@annalaurissa Do you have kids? Do you live in a high cost of living area?
@@IrisP989 not yet, and we live below our means with low rent in a 600sq ft apartment which is quite a common size in Europe
@@annalaurissa Got it. Maybe that can partially explain how you are able to save $1K each.
I would consider investing that if you haven't already. Vanguard comes to mind.
Here’s a comment for the almighty RUclips algorithm. I’ll take my reply now. 😏
here you go!
That car is worth over $13000 today. Car inflation is nuts
It blows my mind 😅 still cannot get over the value of a Fiat 500 nowadays!
How? I have the wagon version with the turbo 3.0 and it’s valued around 4k. 171k miles
I don't have a problem with overspending because I grew up poor and stuck with that mentality to a great extent.
Poor because you care what other humans think.
Spot on.
This is inspirational. Thank You Graham
Love your Review!
I think allot of this doesn’t take into regard the reality of hardships and suffering. You honestly want ppl who suffer to simply not do anything at all and just improve themselvs over what months? Years? Ppl need relief from pain and hardship, if you realize that then you can do your best to curb the issue but to do nothing but save save and work…. Unrealistic for many suffering
What is so suffering to you?
This lady doesn't talk like an American - so I find it a bit humorous that she references a Roth. Do they have those in other countries?
She’s from the U.K. and ISA what she firstly mentioned is an “equivalent” of a Roth. Every country has their own system
I'm doing really well with saving... i think... but having a child in daycare throws everything off. I could be saving an additional $1650 a month if it wasnt for daycare alone. And thats only ONE child! 😭
I'm a fan of the videos @nischa puts out. It's great stuff and very true.
Graham is the goat 🎉 I love saving money
Me too. Some people say there are more important things in life; but money issues touch on virtually everything. Eating is important to life but money allows someone to eat and possibly eat healthier. There are more expensive and generally thought of as more important parts on a car than tires but if they aren't working the whole car is going nowhere.
Same! Although I also believe in enjoying life and travelling to make memories for lifetime :)
@@stevenporter863yea that's what alot of ppl miss
The often say " my happiness is the most important thing" and use that to rationalize everything when having restraint with your money undoubtedly leads to that.
Not saying money is everything but definitely not a fool enough to believe its nothing in our world.
Unless youre a monk or something loll
Graham Roth IRA new annual limit is $6500!
That's wild because I actually just watched her video yesterday...
If only we could realise we have nothing to prove to anybody ever
Graham you’re so right
My question with all of this is what kind of base income makes sense to be investing in stocks and such. If I'm not making enough to fully fund yearly contributions to 401 k and a Roth IRA is investing even meant for someone in this position?
I'd say every bit counts.
And if you start seeing results it might motivate you to earn more or spend less :)
Wish you the best!!
401k and roth is investing
Stocks come in all shape and prices. ROTH IRAs are great for REITs and ETFs, as they yield high dividends and you won't pay taxes on them if you withdrawal the money after age 59 1/2. If you want extra income to help with bills, buy qualified dividend stocks because they come with great tax incentives after holding them for more than 60 days. If you want to take on a high risk stocks, look for new companies, usually those shares are penny stocks and you can buy many for a few bucks.
3:03 Let’s play a game: replace the word ‘debt’ with the word ‘cancer’. It’s not that bad; it’s just a little bit of cancer.
It's hard for me to take money advice from people that have no kids.
All of the points are generally valid, but it's a whole new level to make & save money with kids.
Don’t have kids then.
@@PassionPno it’s ok. I guess I’ll keep them as some are almost in high school.
Kids are a waste of time and money.
General azz information.. & I just watched TWICE 🤦🏿
How dumb I'm I, while making them rich
Literally found her channel yesterday!
Most people giving financial advice have significantly higher income then the people working the low wage jobs.
Also circumstance.
Some people are born into some ridiculous unlucky hard lives.
Hey..! Take love from Bangladesh 🇧🇩 Your content helped me a lot.
Your right!!
Roth IRA max contribution is $6,500 in 2023. Don’t miss out on the extra $500 contribution!!
Love her accent
I DONT WORK HERE
love the sign 😄
Bro you can’t invest your way out of poverty.
The best way to make more money is working a union job. if you don’t have a union at your office than make one, like the sega employees here in California.
Saving money is very important but it tiggers me so much when I see videos like this and never mention the importance of unions.
It’s not just electricians and nurses that are in unions, now even Starbucks and Amazon are unionized and are currently negotiating a contract. If they can form a Union so can employees at Walmart and Macdonald.
The California Nursing Union is amazing-in other states especially the MidWest, the South is pathetic.
She is really great In RUclips
Love this content!
Ramsey turning Graham into a believer.
4:51 The massive house is too small because you’re a hoarder. Watch some Minimalist videos.
Wise advice!
3:13 Jim Bob has cancer in two parts of his body. Harris has cancer in only one part, so his cancer is not that bad.
Common sense isn't so common these day's.
The truth is, people have had life far too easy for their own good. Welfare, Credit Cards and debt have let them live fantasy lives, far beyond what they can afford, what they have earned, and what they deserve.
People wanted to enjoy better things sooner in life and this way of thinking took a lot from us since ir can take one uneducated generation to lose everything several generations aquired. If there werent any loans or cards we would have to save money first. Though the real problem is that we simply arent good at managing money.
"What they deserve?" In France, a nurse earn about 1800€. An influencer can get medium range : 10000€ a month. Who is more deserving? The one saving lives ? Or the one doing nothing constructive? Tchiip. American people. For real.
True but does that make it okay to lure the lesser financial illiterate into bad decisions? I'm totally on the side of capitalism, but at what point do we (as a country or species) realize that we're together?
My top example is taxpayer funded College and Health care.
Why is there a premium on teaching and investing on our literal kids? Wouldn't it be smarter to investing knowledge and skills on our own young citizens Americans?
It’s called life I just spent 50 bucks on essentials
Yeah this is great video.
I watch her vids. Also subscribed. 🎉
Nischa's accent sounds like British Royalty.
She is very pretty.
What’s wrong with a debit card?
I guess it's true what they say about finance. After a certain point you start recycling the same sort of videos. At least it's Financial advice and not get-rich-quick schemes
LOL her video/advice was alll old news and stuff every other youtuber has shared for years LOL
"Common sense" isn't so common
I want you and strad man to do a video together
WILL DO!!
@@TheGrahamStephanShow let’s go😁
not everyone qualify for ROTH IRA. They have income limit. I dont think I would be qualify for it
What watch is that, Graham?
Crazy everyone forgets
The thing now is to have British Indians telling us how to spend money.
Common Indian family habits and ethics showcased by lady
but Graham you can contribute $6500 to a roth ira now
Y'all think graham would react if i make a video about how much i spend as a frugal student in Europe?
Chances are slim, but why not try? Go for it!
Complete unrelated but the piece of thread hanging of his right arm really bothers me
Graham Reacts are Cool..
Let’s keep it a buck - she’s fine af too
What stocks would you recommend in a Roth IRA?
VOO..VTI, VXUS (international where some people like to combine with VTI), QQQM, SCHD…all ETFs…they’re all decent and usually highly recommended…plenty of research videos on RUclips available plus obv do other research with google etc
Jim Bob! LOLOLOLOL
Question. Where do you save the money that you pay to yourself? Do you keep it in a savings account? In the stock market? Or just in your checking account?
Brokerage account
In a high interest savings account until you have 3-6 months of expenses. Thereafter start investing.
I but a $50 bill in folder each week I don’t touch it seeing the cash add up is neat but that’s me
@@dylanfitzpatrick9423 I do have a Schwabb account where I keep some of my stocks. However it pays almost no interest. I think it is like .02% or something? Is that really the best place for it? Granted, my stocks have gone down due to the very poor performance of the stock market over the past couple years. So at least it would be protected from that.
@@danmeck5978 Do you have one you recommend? I see some require a rather large minimum balance or else you have to pay a fee. What is best to use until you reach a balance that high?
Credit cards are great when you use them responsibly. You get an extra 1-4 weeks to pay the bill. You get 1%-5% back every month. But.... you have to pay it in full every month.
I HATE paying in cash. Only do so when someone gives a big discount for cash.
56% of consumers are carrying a balance... they are not paying it off every month. Cc's give a false sense of having money and the points game is not worth it.
@@mmp495 It's worth if if you don't spend more than you can afford to pay off at the end of the month. It's free cash back, but you have to be prudent.
If you need a credit card in order to afford your needs and wants, it's a very expensive idea to own a credit card as you will be paying interest for the rest of your life. Now if you use it for the perks, I personally recommend paying it off every week, cause if you pay it off every month than you're letting your balance build up to where it might hurt your credit score.
Great video
0:52
I can guarantee you that the woman who made that video lived with her parents throughout her 20s. Switch off.
What’s wrong with living with your parents? I’m 30. I still choose to live with my parents. I enjoy having them around and making me healthy, unprocessed, home-cooked meals. I pay them my share of utilities bills and food expenses every month.
I've seen many videos with people saying "I have to use credit cards to make ends meet". Umm no, that's not "making ends meet". Making ends meet is keeping expenses below income, not pretending a loan is a synonym for income.
Still liking!
ye
:)
YEE!! 😱
Hmmm😮
pin meee
love form India.
65th
@The_Graham_Stephan_Show_ Thanks man
Hi
Graham im telling you the stock market is gonna crash extremely bad soon. Don't buy in right now. Should be selling everything you have in the stock market right now really. I don't wanna see you lose money man LISTEN TO ME lol
I'm poor because my income is not greatly exceeding my expenses. It's almost like I used basic math to figure it out. 🤷♂️
Are you searching for ways to increase your income?