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My job kept me poor partly by staying there, but it made me ill. It was so toxic it almost destroyed me. My coping mechanism was buying stuff to make me happy and to reward myself for staying there. Now left there, much happier but poorer. Now decluttering all the crap I bought.
I've been there. Now when I get a new job and see that it's toxic, I walk out. A few imes I have gone to lunch & just not gone back. Eff those jobs, I have never had a problem finding another job.
When I retired, I found that the adage "out of sight, out of mind" to be true. While I am still included on some of my former colleagues FB postings from time to time, that's about it. I knew it would be that way, and I'm okay with that. Work friendships are great, but those friendships usually fade away once you leave the workplace.
Credit card pay off every month that has cash back and if you can't pay cash don't buy it but what you need and what are two different things,and car I do all my own repairs and never buy new ,phone 150 dollars and keep for 2 yrs at least
“Stop being fancy and get the hell over yourself.” 😂 Tell it like it is, Nicole! 😆 Seriously though, you have so many great qualities that I always appreciate, such as your honesty, authenticity, and practicality! 🤗 Love you and your videos! ☺️ Give Levi a belly rub for me! ❤
Why do you think that make sense? She had the right conditions to get stuff done and her priorities are what they are. Many economies need people to spend to keep them working....
it's really a shame that society almost forbids you to openly discuss how many children you can afford. not to mention that when the parents have more children, they have to work harder, leaving less time for each individual child and often ending up not having a deep connection with them. there is a big connection between money and the time you can spend with your children. it is certainly not fulfilling when you wake up at 50 and realize that your 4 children are not interested in you because they hardly spent any time with you, while you would have had a loving family life with 2 children.
Your anti-budget changed my life. Literally! I had been trying to budget for years without succes until your anti-budget video. It is simple to understand and the key for me was that it has essentially 2 categories, fixed expenses and discretionary. Thank you so much Nicole.
I’m still trying to understand why you need that $75,000 vehicle and drive on balding tires? What you didn’t see that $2,000 coming three years ago! Ouch. Ohh and you’re credit is maxed out.
I got a ride with a lady cab driver. Her and her husband both drove the cab in shifts, so while one was driving the other was home with the kids. I admired that they found a practical, working solution. Had a coworker who would spend almost as much as she made on childcare, because her and her husband has semi-conflicting schedules. Cooperation and prioritizing seems to make a difference.
so she basically left her kids to be raised by strangers to make a child care center owner rich. she should have just stayed home and raised her kids herself! why have them if they will be mostly raised by strangers! part time parent epidemic@@juliadplume3097
I have 3 children their a blessing but even whats cheap its expensive when it comes to them also they take a huge toll on my mental and spirtual health I'm proud of you for being smart and not having children
@elvirubi6732 Most people don't have a clue about what children cost money wise as well as emotionally. Raising children to be good, honest, kind, responsible citizens and members of society is a tremendous amount of hard work. It's not easy.
The one thing nobody talks about is how expensive having children can be. I'm in my 70's and when I got married, and then pregnant nobody said "you know, this is really going to cost you. Not just at first, but years and years".
Hi Nicole I’m following as much as possible your advices and I can see a positive change already. I started cooking for the week and stop spending on things I don’t need. keep posting videos!!
But I love her tho 😭 Worse case scenario we'll keep our finances completely separate and do a prenup. That way although her income may not help me reduce my own expenses, her spending won't hurt me either. Her spending isn't the worst but she doesn't want to budget, so the money she makes finds a way to disappear 😕
Liabilities - yes, if you don't resist you will fall into the liability swamp. I don't do subscription cable tv - I have freesat. No netflix or prime, just watch the free stuff - & in the uk there is lots to choose from. Cellphone - buy a medium rated android handset and go sim only pay as you go, look after the handset and i can usually get five years out of them. Cars - always driven good beat up sheds, these usually last over 5 years and theres little depriciation. Internet - cheapest dsl package. 10mb down 1 mb up speed. Services - do gardening, window cleaning, house cleaning myself. Its not what you spend, its what you dont spend that counts.
As a fellow cheapskate I talked to some ppl about these and turns out that most broke ppl have some type of addiction, they consider normal, whether it is smoking, booze, drugs, junk food and being shopaholics, while living beyond their means. Thanks Nicole
Most people regardless of their financial status have a vice. It's extremely prejudiced to say it's only "broke people", especially when your sample group is so small & one-sided
So you think your mom should not have given birth to you because that would have saved a lot of money. And her parents should not have had her because again think of the cost savings.
Here in the US, Healthcare is ridiculously expensive. A few years ago, my husband worked for a company as an IT contractor so we didn't have health insurance through the company. We had to pay for it ourselves at $1,350 per month and the deductible was $7,500. After the deductible we paid 20%. I needed surgery so that year we paid more than $25,000!!!
It's not the first time i hear someone mentioning that ''you should switch job every 2-3 years to get higher salary'' idea, so i would like to say that this is a bit narrow thinking and covers only one side - salary. Don't know how it's in America or Canada but here in Baltics (i live in Latvia) by staying at the same job you're earning ''street credit''. For example i work in the same company for 6 years now and what i have is: * decent salary; * loyalty holidays (after 5+ years in company you get extra payed holidays; * very good insurance (insurance that is fully payed by employer is rare thing in Baltics + you can get one only after some period of working in the company); * respect and trust from colleagues and management as well because after these many years ''i know the drill'' and can solve problems, so my knowledge is valuable (makes me feel good moarally); * i can do my chores/run errands if needed and get my job done when i'm available by just FYIing my manager (trust); *etc. So the point i want to deliver is that maybe getting a bit higher salary is cool and stuff but you definitely have to evaluate if those few hundred bucks are worse the struggle because at new place you will be the new fish with lost benefits.
I’ve been in highs and lows for a while but this year, thanks to you, calub hammer, and my s/o I have been putting money into my saving account I’m 5k in, it’s been a crazy ride especially having adhd, it makes you impulsive spend, however I learned to control myself and my adhd 😊
Such great tips….credit card spending can make you money if you have self discipline and pay your card off every single month. I use mine for EVERYTHING and get cash back on each purchase. And I’m pretty disciplined at buying only what I need with exceptions being just that, not the norm. It’s great to get money back on stuff I needed anyway. One suggestion I think could be a number 11 here…it’s super important to know WHY you are saving. Saving is hard today. I’d love to see you do a video on why it’s important to save (aside from saving for emergencies). Sometimes people think what the heck am I gonna save for?
Excellent advice Nicole! Thank you for sharing your views. You’re right on about loyalty to jobs! You leave your place of employment and they replace you right away. They are not family. If you are close friends with some of your coworkers, they will still be friends outside of the job.
Great vid Nicole. The job point is SO true. I am in a spot right now where either I need a raise or switch jobs. Also the “keeping up with the jones” is one trap that I have fallen into. Mostly when it comes to my kids sports (having to play and pay for a sport year round because all the other kids are doing so).
I would imagine that this is a big challenge as a parent -- making sure that your child is involved in sports, dance, band, etc. because being involved in multiple extracurricular activities is the norm. I would imagine that it's very hard to say no and to explain the cost benefit analysis (and time analysis) of being involved in multiple extracurricular activities.
It’s crazy the travel teams they have for kids sports. I’m glad my older sister warned me away from those! You pay a lot of $ for your kid to be on the team, then you have to pay to travel to games and spend your whole weekend watching kids sports. It’s expensive enough just buying equipment for kids to play sports. They outgrow stuff so fast you are better off buying used if you can
Yes I do work with my hands and had to threaten to leave in order to get a cost of living raise this year! It's an employees market! There's 3 job openings for 1 qualified worker so now's the time to make a move!
Rich dad poor dad is a great book to get people into the mindset of focusing on assets vs liabilities. I saw "The Subtle Art of Not Giving a F*ck" on your shortform list... I feel like you're already an expert in that field???
I'm exhausted, living in a small crappie apartment where I have to share the small narrow entrance as my neighbors from hell. I long for a townhouse apartment, only I need more money, so I sell as much stuff as possibly and save whatever I can at this point. It's not easy and I panic quite easily just by the thought of being stuck here. I have to take up a mortgage and as a frugal person that doesn't like to pay to the bank I struggle with the thought of this so I try to hustle as much as possible, but I know it's inevitable. I have so much stuff at this point (that I'm selling.. Only it takes such a long time) that moving is kinda hard. In mean time I try my best Not to use more money than I have to, but I do find the struggle since I ended up needing bed and stairs for my elderly dog, new bedding and some blankets just to keep it comfy ("hygge") in a otherwise stressful and depressing time. So, because of the extra expenses I find myself needing to sell more.. It's a spiral, but I think as long as it's needed for ones mental health or physically like new needed clothes for warmth and hygiene purposes it's more of a needed purchase. Your videos gives me inspiration btw, so thank you. 💗
Same here with bipolar disorder and a genetic condition, without taking my meds I might not even be alive, let alone a contributing member of society as a teacher.
You mentioned kids, but don't forget *pets*! I know you love Levi and will spare no expense to keep him healthy and happy, but that's money you'll never get back. 😉🐕
1. Don't buy it if you cannot afford it in cash. 2. Cut on optional nutrition (energy drinks, protein powders, french fries, or fast food in general). 3. Always have your rent + bills money covered up first. 4. Set a monthly "savings dip percentage", you don't want to end up with 0% savings every month.
Yes kids are expensive! I have 2 teens! They are also a blessing. Teaching your kids to be responsible with money and not buying them everything is also a helpful piece of advise. I believe in making your kids earn things. Not food, shelter or love but like if they want that item they have dreamed of and can't live without then they need to work for it. To many parents just buy their kids whatever they want and it isn't teaching the kids anything. I think animals keep people poor and I have 4! The vet is EXPENSIVE! Buying their food too. Especially if your dog or cat has special needs or tummy issues.
Thank you for being an advocate for having children. Seems that the world is designed to make people scared to have children and make it as difficult as possible to raise them.
I know a guy that lives way beyond his income. Has to have the best of everything. House, cars, toys. He doesn't have enough money to buy a coffee in the morning. He likes coming off as a high roller though. Absolutely "A keeping up with the Joneses" type. I don't know why some people feel the need to impress people with their material things. Especially when they can't afford it. I'm a minimalist with a nice chunk of change in the bank and love it! I don't stress about money woes at all.
Always write down what you spend, and do not be greedy and stingy, and help non beggars on the quiet. Please keep written, audio, and video journals. everyday, and please dte, and the day of the week also. I never cared what haters think, and they were removed from my life, and God took care of the rest. I ghosted them first.
Facts.....having children is keeping u poor, their nice but I prefer not to share my money with anyone until I have accomplish most if not all of my financial goals
loooool prescriptions not being covered is the WORST type of government healthcare program. that’s the most expensive part if you’re not requiring surgery
If you own a car or truck the stupidest thing you can possibly do is drive around with your gas tank constantly hovering just above empty, then put another couple of gallons in it, perpetually. Stupid and totally avoidable thing no. 1 which might very well happen is you might space out how little gas you have and run it dry someplace way out in the boondocks at night in the pouring rain. But the primary folly of this practice is that you will burn up your fuel pump. Almost all fuel pumps are now electric and located inside the gas tank, and require at least a quarter tank to provide them with sufficient lubrication. If your fuel pump gets toasted, replacing it is an expensive proposition. Don't have your brother in law Darrell do it in your driveway. You'll need it done by a good mechanic in a shop with the proper tools. Always just putting a couple bucks worth of gas in your rig is a bad habit which could and probably will cost you big time. This is an example of parsimony: being cheap to the point where it's actually detrimental to your own well being.
Keeping your gas tank less than half full in the winter can also cause condensation and the tank to rust which can create leaks and holes. Replacing a gas tank can be very expensive.
Ditching Cable/Sat tv and substituting it with all those subscription tv services. You might feel all high and mighty for having "cut the cord" but after paying the internet fee and several subs services just so you can "keep up with your favorite shows" you're probably paying just as much as cable for that time suck crappy tv. Get a hobby, learn a language, connect with your kids, hit the gym, Anything. (rant time, over).
Lifestyle creep is a very real thing. Also, when you are recovering from being financially strapped all the time, its important to immediately get those extra funds (from a raise, or new job, or paid off car) immediately into savings.....or those extra funds will just wander away somehow.
I can be broke working for someone, or be broke working for myself. Id rather be broke working for myself! People that have more than you, Includes bill's
I don't understand how anyone is willing to pay a thousand dollars for a phone. Especially apple. I bought my phone (xiaomi) four years ago and it still functions perfectly. Cost me 250€ for a new model
Health. In Finland, most medication is covered after 50 euros and the doctor's fees are usually modest, but the quality of care is debatable. If you need a knee replacement surgery, top care. If you need thyroid medication, not so good. If you want gender affirming care, miserable. So, all in all, you have to be well prepared.
It’s so interesting to hear different perspectives of Canada vs US. I’ve been at the same company in America for 18 years. Among other things, I stay for the amazing health, dental, vision etc benefits. So for me, my job isn’t keeping me poor. I agree that loyalty, friends etc is not a financially sound reason to stay.
I love all of this and am personally responsible for committing all of these "wrongs", except the children, although my furry children aren't cheap either. I think what hit home the most was the "buy once, cry once". I have had a hard time paying more for high quality and instead have opted for MORE of cheaper items, and I always regret it, yet it has taken years to correct this behavior. Thanks for the video.
Indian United States.Even if you can afford to get healthcare prescriptions are not covered.That's why most of us go use good our ex.I take some money off now.Lock it's better nothing
Definitely guilty of not paying myself first. However, I'm thinking I will be better able to do that in the middle of the month, I will check out the anti-budget video.
Children and pets (especially horses and cats. cats cost a lot more than dogs) eat up a huge chunk of your weatlth, plus they are destructive (especialy kids), so you have to replace/repair a lot of things you shouldn't have to. Boarding a horse can cost over $1000/month in a decent facility. The cost to raise a child to age 18 is about $250K in the US. And that doesn't account for collateral damage.
A new job is not always a good thing. I've worked at the same place for 24 years now - and I'm happy there. We have a relaxed atmosphere and a lot of atonomy, so the stress is minimal. If I had to get used to a new job every 2-3 years I think, I would have a mental breakdown. I get payed enough to have a normal lifestyle and save a little each month.
Always try to spend money like a dragon spends gold/treasure Modern phones, game consoles, and video cards are too expensive, get old used/refurbished stuff, you can replace it every 2/3 years and still spend less than on a new shiny one; usually entry level new stuff is junk get something last gen that was above that tear of product or an go back 2 gens and get a flag ship model, also see if you can get a free/cheap hand-me-down from friends/family who blows money on the stuff check the usage of your phone to see if you can get by on a metered or pay as you go plan instead (turn data off when you are not using it so it does not eat it spying on you) tell subscription services to get lost, do NOT become a walking wallet be ware of the 'monopoly cable company business model' where they jack the price annually till you try to cancel then they drop the price to find the price you are willing to tolerate
Besides being at a job too long and making slightly more than when I started, being burnt out is keeping me poor. I guess that falls under health that you mentioned. I just don't feel confident enough to promote myself as a keener for a new employer. I'm exhausted, look it and feel it.
Most credit cards have a point system where you earn points for your purchases. They offer many types of ways to cash in your points that being said instead of using those points to purchase overpriced items from their catalog, cash those points in for a statement credit or deposit into an savings or checking account.
I think you can caught up in the materialistic world but there's more to life than having stuff and money. what about contentment and happiness. Or the love of a woman?
I put a TON of things on the credit card to earn rewards and I get to use them for flights, chess tournaments and what have you, but I DO pay them off every month.
I agree about many points you listed, especially about having emergency fund. Due to miscommunication between me and my partner we accidentally spent most of our savings. He thought I am following our bank accounts closely while I thought we are just not touching savings accounts unless it comes to real emergencies, so I wasn't checking our accounts. And now, when emergency came, we had to take a small loan and we will be paying 400 euros in interest rate 😑 Never making this mistake again. That said, although I agree with many points you list, I am not a fan of the Rich Dad Poor Dad book. I think If Books Could Kill podcast's episode on this book nicely highlights its weaknesses and I suggest you listen to it to get another perspective on the ideas presented in the book.
Girl... I'm so glad that I found youuuu! With all the information I need. Someone concise, not overdramatic, funny, cuss and sarcastic 😏 and most of all, smart. I found you 2days ago and have binge watched both days. Thank you! Subscribed.
The job one and the not paying myself first are the ones I need to correct and hopefully with some staycations coming up, I will be able to do that without any issues.
I needed to hear number 8. Thank you so much. My jobs were keeping me poor. I don't have any family so I fell really hard for that "like a family" thing. I was stupidly loyal to bad situations for a long time. Thank you!
I don’t spend on items but I do spend a lot on travel. I’ve been taking 3 international trips per year. I still set aside money for savings each month though.
i certainly have changed my jobs over the years from the age of 16 to 56 i have had about 58 jobs lol some i have left because of moving some i just hated and i got made redundant from one and told i was not right for the job on one of them !
I've been trying to convince a friend to see a dentist-she hasn't gone in 10 yrs & assumes because she has no pain, it's fine. She works for the state we live in, so she has good insurance. I once didn't go for years, & things seemed fine, til they weren't & I wound up needing 2 root canals within the same year. Had I just gone & taken care of things, it probably could've been avoided.
Well said. Never skip. And DO get second opinions when major work is recommended. And if no insurance, DO get price quotes from at least 3 dental practices. Can vary $1,000 or more.
The same thing happened to me. I avoided the dentist for five years, then ended up having root canals, fillings and other stuff involving needles and injections! I learned my lesson from that and now go regularly for checkups!
Buying Dr. Martens shoes (not boots) when I found them on sale 10 years ago (they were still not cheap though) really changed my perspective on consumption. They are some of the most comfortable shoes I've ever worn, and I've worn them to death. After a decade of wearing them, they only look a little worn out. Before, due to my extensive walking, I used to buy a new pair of shoes every year, if not more often. In many cases, the saying 'I'm too poor to buy cheap' truly applies.
Rich Dad / Poor Dad is pretty terrible for almost all other advice it provides. The section on assets vs liabilities is like the one good thing. I think some of the strategies he advocates later in the book are borderline illegal.
Just saw these videos as I finished doing a debt resolution for almost $15,000 of debt. Doesn't sound so bad until I tell you that in Feb of 2021 I left prison with almost that much in a savings account. I even had this crazy good budget to keep me on track. Now I'm married, broke, and seriously depressed. But I've been using these ideas already to start the comeback. Thanx so so much. Fuck yeah to your attitude.
10 great points. I feel living with in your means is most important. Do that and most of the other things will follow. Yes children are expensive and I feel pets are too. That’s why I no longer have pets. Last year I had to put down my 12 year old cat. At 70 if I got another pet it would cost me way more than I can afford on social security and it would probably out live me.
In my mind the only acceptable debt is house mortgage debt - ive never had loans, credit cards, contract cellphones etc. Ive only had the mortgage - and i overpayed that to the max to avoid paying more interest.
On the note of quality, if your car needs a part replaced, check for performance aftermarket parts. For most suspension related parts, you can get a part made of steel instead of the stock hardened aluminum. It'll cost more up front, but the longer life of a steel part will save money over time.
Many Americans can't afford the doctor, especially in red states. ACA only kicks in if you make over a certain amount while medicaid ends after you make a much smaller amount. The gap is about 15k a year and they are the working poor. Add in years of parents telling kids to suck it up and the mentality is much different than places where the government prioritizes your health. I know people who found out in their 30s that they broke bones as children (which is absolutely crazy) and dental is really expensive. If you need a root canal and crown that can be over 3k and even just pulling it is $600. I think you may not realize how absolutely horrible are healthcare system is. I knew a guy who died of a heart attack after fighting with insurance for over a year to pay for a bypass surgery. Though diet is great and I love a long walk (giving up daily walks is the worst thing about becoming disabled) for many people food security is real and walking is not an option. I have had multiple students throughout the years that have not been allowed to play outside because death is a real possibility. Just trying to shed some light on how terrible it is here, because though people hear the stories, I think the reality is so hard to imagine that people think it must be an exaggeration. It is absolutely insane how quickly life can fall apart in the US because of systemic issues such as the prioritization of corporations over people.
Check out Rich Dad Poor Dad with a FREE trial to Shortform, plus get 20% off your annual membership by clicking here: www.shortform.com/AccordingToNicole
Too many subscriptions can also add to one's financial burden.😉
There was no rich or poor dad, the story is a fiction.
As a neurodivergent person.. I appreciate how candid, articulate, direct and blunt you are 😊 it is very refreshining, accountable and educational.😊
My job kept me poor partly by staying there, but it made me ill. It was so toxic it almost destroyed me. My coping mechanism was buying stuff to make me happy and to reward myself for staying there. Now left there, much happier but poorer. Now decluttering all the crap I bought.
I've been there. Now when I get a new job and see that it's toxic, I walk out. A few imes I have gone to lunch & just not gone back. Eff those jobs, I have never had a problem finding another job.
Co-workers forget “friendship” in the blink of an eye the moment you leave.
When I retired, I found that the adage "out of sight, out of mind" to be true. While I am still included on some of my former colleagues FB postings from time to time, that's about it. I knew it would be that way, and I'm okay with that. Work friendships are great, but those friendships usually fade away once you leave the workplace.
Credit card pay off every month that has cash back and if you can't pay cash don't buy it but what you need and what are two different things,and car I do all my own repairs and never buy new ,phone 150 dollars and keep for 2 yrs at least
Agree with all Nicole, especially health. Pay the farmer now or the doctor later.
💯
“Stop being fancy and get the hell over yourself.” 😂 Tell it like it is, Nicole! 😆 Seriously though, you have so many great qualities that I always appreciate, such as your honesty, authenticity, and practicality! 🤗 Love you and your videos! ☺️ Give Levi a belly rub for me! ❤
Why do you think that make sense? She had the right conditions to get stuff done and her priorities are what they are. Many economies need people to spend to keep them working....
it's really a shame that society almost forbids you to openly discuss how many children you can afford. not to mention that when the parents have more children, they have to work harder, leaving less time for each individual child and often ending up not having a deep connection with them. there is a big connection between money and the time you can spend with your children. it is certainly not fulfilling when you wake up at 50 and realize that your 4 children are not interested in you because they hardly spent any time with you, while you would have had a loving family life with 2 children.
Your anti-budget changed my life. Literally! I had been trying to budget for years without succes until your anti-budget video. It is simple to understand and the key for me was that it has essentially 2 categories, fixed expenses and discretionary. Thank you so much Nicole.
That makes me so happy to hear!
I’m still trying to understand why you need that $75,000 vehicle and drive on balding tires?
What you didn’t see that $2,000 coming three years ago! Ouch.
Ohh and you’re credit is maxed out.
I'm child free, almost 30 and still broke. I can't imagine paying for kids and working too lol😊
I got a ride with a lady cab driver. Her and her husband both drove the cab in shifts, so while one was driving the other was home with the kids. I admired that they found a practical, working solution. Had a coworker who would spend almost as much as she made on childcare, because her and her husband has semi-conflicting schedules. Cooperation and prioritizing seems to make a difference.
so she basically left her kids to be raised by strangers to make a child care center owner rich. she should have just stayed home and raised her kids herself! why have them if they will be mostly raised by strangers! part time parent epidemic@@juliadplume3097
I have 3 children their a blessing but even whats cheap its expensive when it comes to them also they take a huge toll on my mental and spirtual health I'm proud of you for being smart and not having children
@elvirubi6732 Most people don't have a clue about what children cost money wise as well as emotionally. Raising children to be good, honest, kind, responsible citizens and members of society is a tremendous amount of hard work. It's not easy.
Kids reward you if you teach them about God and his laws at a young age. They will give you much help and hope as you age
The one thing nobody talks about is how expensive having children can be. I'm in my 70's and when I got married, and then pregnant nobody said "you know, this is really going to cost you. Not just at first, but years and years".
Hi Nicole I’m following as much as possible your advices and I can see a positive change already.
I started cooking for the week and stop spending on things I don’t need.
keep posting videos!!
When I get a compliment on my haircut I tell people I cut it myself and immediately they call me cheap?
I don’t get it!
They’re just jealous! ❤
Don't tell them! Did you ever hear the saying: you have to stop telling bad spirits good news!
A partner whose spending habits are worse than yours.
Good one!
But I love her tho 😭
Worse case scenario we'll keep our finances completely separate and do a prenup. That way although her income may not help me reduce my own expenses, her spending won't hurt me either.
Her spending isn't the worst but she doesn't want to budget, so the money she makes finds a way to disappear 😕
Liabilities - yes, if you don't resist you will fall into the liability swamp.
I don't do subscription cable tv - I have freesat.
No netflix or prime, just watch the free stuff - & in the uk there is lots to choose from.
Cellphone - buy a medium rated android handset and go sim only pay as you go, look after the handset and i can usually get five years out of them.
Cars - always driven good beat up sheds, these usually last over 5 years and theres little depriciation.
Internet - cheapest dsl package. 10mb down 1 mb up speed.
Services - do gardening, window cleaning, house cleaning myself.
Its not what you spend, its what you dont spend that counts.
As a fellow cheapskate I talked to some ppl about these and turns out that most broke ppl have some type of addiction, they consider normal, whether it is smoking, booze, drugs, junk food and being shopaholics, while living beyond their means. Thanks Nicole
This is very true.
Most people regardless of their financial status have a vice. It's extremely prejudiced to say it's only "broke people", especially when your sample group is so small & one-sided
@@aussiejubes Guiardintek did not say that only broke people have a vice.
@@rosieposie9564 that was their point, or it would have been a moot point that didn't need to be said.
@@rosieposie9564 The image is very important to folks.
a person talking about how people waste money and saving money pushing some useless service shortform. irony
So you think your mom should not have given birth to you because that would have saved a lot of money. And her parents should not have had her because again think of the cost savings.
Here in the US, Healthcare is ridiculously expensive. A few years ago, my husband worked for a company as an IT contractor so we didn't have health insurance through the company. We had to pay for it ourselves at $1,350 per month and the deductible was $7,500. After the deductible we paid 20%. I needed surgery so that year we paid more than $25,000!!!
Paying yourself first is a game changer.
It's not the first time i hear someone mentioning that ''you should switch job every 2-3 years to get higher salary'' idea, so i would like to say that this is a bit narrow thinking and covers only one side - salary. Don't know how it's in America or Canada but here in Baltics (i live in Latvia) by staying at the same job you're earning ''street credit''. For example i work in the same company for 6 years now and what i have is:
* decent salary;
* loyalty holidays (after 5+ years in company you get extra payed holidays;
* very good insurance (insurance that is fully payed by employer is rare thing in Baltics + you can get one only after some period of working in the company);
* respect and trust from colleagues and management as well because after these many years ''i know the drill'' and can solve problems, so my knowledge is valuable (makes me feel good moarally);
* i can do my chores/run errands if needed and get my job done when i'm available by just FYIing my manager (trust);
*etc.
So the point i want to deliver is that maybe getting a bit higher salary is cool and stuff but you definitely have to evaluate if those few hundred bucks are worse the struggle because at new place you will be the new fish with lost benefits.
I’ve been in highs and lows for a while but this year, thanks to you, calub hammer, and my s/o I have been putting money into my saving account I’m 5k in, it’s been a crazy ride especially having adhd, it makes you impulsive spend, however I learned to control myself and my adhd 😊
Such great tips….credit card spending can make you money if you have self discipline and pay your card off every single month. I use mine for EVERYTHING and get cash back on each purchase. And I’m pretty disciplined at buying only what I need with exceptions being just that, not the norm. It’s great to get money back on stuff I needed anyway.
One suggestion I think could be a number 11 here…it’s super important to know WHY you are saving. Saving is hard today. I’d love to see you do a video on why it’s important to save (aside from saving for emergencies). Sometimes people think what the heck am I gonna save for?
Sharon, I agree. I don't carry a balance, and I use my points to pay for travel or other indulgences.
Excellent advice Nicole! Thank you for sharing your views. You’re right on about loyalty to jobs! You leave your place of employment and they replace you right away. They are not family. If you are close friends with some of your coworkers, they will still be friends outside of the job.
“Even for us in developed countries where health care is covered…” BURN!🔥 🔥🔥 absolutely savage. 🙌🏻
I LOVE THE CALEB HAMMER REFERENCE! Been binging his and your video for bettering my life. Thank you!!!
Same! 🥰
Great vid Nicole. The job point is SO true. I am in a spot right now where either I need a raise or switch jobs. Also the “keeping up with the jones” is one trap that I have fallen into. Mostly when it comes to my kids sports (having to play and pay for a sport year round because all the other kids are doing so).
I would imagine that this is a big challenge as a parent -- making sure that your child is involved in sports, dance, band, etc. because being involved in multiple extracurricular activities is the norm. I would imagine that it's very hard to say no and to explain the cost benefit analysis (and time analysis) of being involved in multiple extracurricular activities.
It’s crazy the travel teams they have for kids sports. I’m glad my older sister warned me away from those! You pay a lot of $ for your kid to be on the team, then you have to pay to travel to games and spend your whole weekend watching kids sports. It’s expensive enough just buying equipment for kids to play sports. They outgrow stuff so fast you are better off buying used if you can
Never fell for that sport thing. My 22 year old did field events track. Was $250 included uniform, pics etc.
Yes I do work with my hands and had to threaten to leave in order to get a cost of living raise this year! It's an employees market! There's 3 job openings for 1 qualified worker so now's the time to make a move!
Rich dad poor dad is a great book to get people into the mindset of focusing on assets vs liabilities. I saw "The Subtle Art of Not Giving a F*ck" on your shortform list... I feel like you're already an expert in that field???
I try 😅
Sometimes we all need a refresher
I'm exhausted, living in a small crappie apartment where I have to share the small narrow entrance as my neighbors from hell. I long for a townhouse apartment, only I need more money, so I sell as much stuff as possibly and save whatever I can at this point. It's not easy and I panic quite easily just by the thought of being stuck here. I have to take up a mortgage and as a frugal person that doesn't like to pay to the bank I struggle with the thought of this so I try to hustle as much as possible, but I know it's inevitable. I have so much stuff at this point (that I'm selling.. Only it takes such a long time) that moving is kinda hard. In mean time I try my best Not to use more money than I have to, but I do find the struggle since I ended up needing bed and stairs for my elderly dog, new bedding and some blankets just to keep it comfy ("hygge") in a otherwise stressful and depressing time. So, because of the extra expenses I find myself needing to sell more.. It's a spiral, but I think as long as it's needed for ones mental health or physically like new needed clothes for warmth and hygiene purposes it's more of a needed purchase.
Your videos gives me inspiration btw, so thank you. 💗
Healthcare is the most inclusive point to me. I need medication to function with schizophrenia. It's expensive but worth it.
Same here with bipolar disorder and a genetic condition, without taking my meds I might not even be alive, let alone a contributing member of society as a teacher.
Dogs. I see so many poor people with dogs. They pay for all their shit, toys, food, maybe monthly Banfield payments. Etc.
You mentioned kids, but don't forget *pets*! I know you love Levi and will spare no expense to keep him healthy and happy, but that's money you'll never get back. 😉🐕
1. Don't buy it if you cannot afford it in cash.
2. Cut on optional nutrition (energy drinks, protein powders, french fries, or fast food in general).
3. Always have your rent + bills money covered up first.
4. Set a monthly "savings dip percentage", you don't want to end up with 0% savings every month.
Yes kids are expensive! I have 2 teens! They are also a blessing. Teaching your kids to be responsible with money and not buying them everything is also a helpful piece of advise. I believe in making your kids earn things. Not food, shelter or love but like if they want that item they have dreamed of and can't live without then they need to work for it. To many parents just buy their kids whatever they want and it isn't teaching the kids anything. I think animals keep people poor and I have 4! The vet is EXPENSIVE! Buying their food too. Especially if your dog or cat has special needs or tummy issues.
Thank you for being an advocate for having children. Seems that the world is designed to make people scared to have children and make it as difficult as possible to raise them.
I know a guy that lives way beyond his income. Has to have the best of everything. House, cars, toys.
He doesn't have enough money to buy a coffee in the morning. He likes coming off as a high roller though.
Absolutely "A keeping up with the Joneses" type. I don't know why some people feel the need to impress people with their material things. Especially when they can't afford it. I'm a minimalist with a nice chunk of change in the bank and love it! I don't stress about money woes at all.
Always write down what you spend, and do not be greedy and stingy, and help non beggars on the quiet. Please keep written, audio, and video journals. everyday, and please dte, and the day of the week also.
I never cared what haters think, and they were removed from my life, and God took care of the rest. I ghosted them first.
Lifestyle creep and one upmanship are so real! Thanks for calling both out.
I have never spent more that 250 on a phone. So many good phones that aren't the sparkling flagship phones. No body cares what kind of phone you have.
Facts.....having children is keeping u poor, their nice but I prefer not to share my money with anyone until I have accomplish most if not all of my financial goals
loooool prescriptions not being covered is the WORST type of government healthcare program. that’s the most expensive part if you’re not requiring surgery
If you own a car or truck the stupidest thing you can possibly do is drive around with your gas tank constantly hovering just above empty, then put another couple of gallons in it, perpetually. Stupid and totally avoidable thing no. 1 which might very well happen is you might space out how little gas you have and run it dry someplace way out in the boondocks at night in the pouring rain. But the primary folly of this practice is that you will burn up your fuel pump. Almost all fuel pumps are now electric and located inside the gas tank, and require at least a quarter tank to provide them with sufficient lubrication. If your fuel pump gets toasted, replacing it is an expensive proposition. Don't have your brother in law Darrell do it in your driveway. You'll need it done by a good mechanic in a shop with the proper tools. Always just putting a couple bucks worth of gas in your rig is a bad habit which could and probably will cost you big time. This is an example of parsimony: being cheap to the point where it's actually detrimental to your own well being.
Keeping your gas tank less than half full in the winter can also cause condensation and the tank to rust which can create leaks and holes. Replacing a gas tank can be very expensive.
@@johnathin0061892 absolutely
Ditching Cable/Sat tv and substituting it with all those subscription tv services. You might feel all high and mighty for having "cut the cord" but after paying the internet fee and several subs services just so you can "keep up with your favorite shows" you're probably paying just as much as cable for that time suck crappy tv. Get a hobby, learn a language, connect with your kids, hit the gym, Anything. (rant time, over).
Lifestyle creep is a very real thing.
Also, when you are recovering from being financially strapped all the time, its important to immediately get those extra funds (from a raise, or new job, or paid off car) immediately into savings.....or those extra funds will just wander away somehow.
I can be broke working for someone, or be broke working for myself. Id rather be broke working for myself! People that have more than you, Includes bill's
I don't understand how anyone is willing to pay a thousand dollars for a phone. Especially apple. I bought my phone (xiaomi) four years ago and it still functions perfectly. Cost me 250€ for a new model
poor is a mindset not a job! become profitable! independent agent! thanks Nicole!! smart wellspoken
Health. In Finland, most medication is covered after 50 euros and the doctor's fees are usually modest, but the quality of care is debatable. If you need a knee replacement surgery, top care. If you need thyroid medication, not so good. If you want gender affirming care, miserable. So, all in all, you have to be well prepared.
It’s so interesting to hear different perspectives of Canada vs US. I’ve been at the same company in America for 18 years. Among other things, I stay for the amazing health, dental, vision etc benefits. So for me, my job isn’t keeping me poor. I agree that loyalty, friends etc is not a financially sound reason to stay.
I love all of this and am personally responsible for committing all of these "wrongs", except the children, although my furry children aren't cheap either. I think what hit home the most was the "buy once, cry once". I have had a hard time paying more for high quality and instead have opted for MORE of cheaper items, and I always regret it, yet it has taken years to correct this behavior. Thanks for the video.
Indian United States.Even if you can afford to get healthcare prescriptions are not covered.That's why most of us go use good our ex.I take some money off now.Lock it's better nothing
Definitely guilty of not paying myself first. However, I'm thinking I will be better able to do that in the middle of the month, I will check out the anti-budget video.
My child doesn't keep me poor, I get Child Benefits. I actually work way less that I would need to if I didnt have those benefits.
Quality is an important one especially with Saltwater aquarium equipment... 😉
I hope she didn't discover a tampon alternative!😮❤😂😂😂😂
Children and pets (especially horses and cats. cats cost a lot more than dogs) eat up a huge chunk of your weatlth, plus they are destructive (especialy kids), so you have to replace/repair a lot of things you shouldn't have to. Boarding a horse can cost over $1000/month in a decent facility. The cost to raise a child to age 18 is about $250K in the US. And that doesn't account for collateral damage.
because of my condidtion (autist) i'll probably never make big bucks...i guess its a dreary boring life
A new job is not always a good thing. I've worked at the same place for 24 years now - and I'm happy there. We have a relaxed atmosphere and a lot of atonomy, so the stress is minimal. If I had to get used to a new job every 2-3 years I think, I would have a mental breakdown. I get payed enough to have a normal lifestyle and save a little each month.
Always try to spend money like a dragon spends gold/treasure
Modern phones, game consoles, and video cards are too expensive, get old used/refurbished stuff, you can replace it every 2/3 years and still spend less than on a new shiny one; usually entry level new stuff is junk get something last gen that was above that tear of product or an go back 2 gens and get a flag ship model, also see if you can get a free/cheap hand-me-down from friends/family who blows money on the stuff
check the usage of your phone to see if you can get by on a metered or pay as you go plan instead (turn data off when you are not using it so it does not eat it spying on you)
tell subscription services to get lost, do NOT become a walking wallet
be ware of the 'monopoly cable company business model' where they jack the price annually till you try to cancel then they drop the price to find the price you are willing to tolerate
The Simpsons make more sense to me than MOST of the programing on television.
Children don't keep you poor. Lack of planning does. (And I'm saying this as someone who did not plan well 😅)
Besides being at a job too long and making slightly more than when I started, being burnt out is keeping me poor. I guess that falls under health that you mentioned. I just don't feel confident enough to promote myself as a keener for a new employer. I'm exhausted, look it and feel it.
Most credit cards have a point system where you earn points for your purchases. They offer many types of ways to cash in your points that being said instead of using those points to purchase overpriced items from their catalog, cash those points in for a statement credit or deposit into an savings or checking account.
I think you can caught up in the materialistic world but there's more to life than having stuff and money. what about contentment and happiness. Or the love of a woman?
I put a TON of things on the credit card to earn rewards and I get to use them for flights, chess tournaments and what have you, but I DO pay them off every month.
Gotta earn great on these vids with 6 commercial breaks during a 18 min vid...insane
I agree about many points you listed, especially about having emergency fund. Due to miscommunication between me and my partner we accidentally spent most of our savings. He thought I am following our bank accounts closely while I thought we are just not touching savings accounts unless it comes to real emergencies, so I wasn't checking our accounts. And now, when emergency came, we had to take a small loan and we will be paying 400 euros in interest rate 😑 Never making this mistake again. That said, although I agree with many points you list, I am not a fan of the Rich Dad Poor Dad book. I think If Books Could Kill podcast's episode on this book nicely highlights its weaknesses and I suggest you listen to it to get another perspective on the ideas presented in the book.
The problem with my particular job is that I'm stuck there because I have a pension
Girl... I'm so glad that I found youuuu! With all the information I need. Someone concise, not overdramatic, funny, cuss and sarcastic 😏 and most of all, smart. I found you 2days ago and have binge watched both days. Thank you! Subscribed.
one ting i experinced is lifestyle creep-i wasted 250.000 euro go figure
The job one and the not paying myself first are the ones I need to correct and hopefully with some staycations coming up, I will be able to do that without any issues.
I needed to hear number 8. Thank you so much. My jobs were keeping me poor. I don't have any family so I fell really hard for that "like a family" thing. I was stupidly loyal to bad situations for a long time. Thank you!
I don’t spend on items but I do spend a lot on travel. I’ve been taking 3 international trips per year. I still set aside money for savings each month though.
This was the lecture I needed today. Thanks Nicole. ❤️
I kind of disagree with lifestyle creep. Most people want to make more money so they can have a better quaity of life, not still struggle
I shave my head and face ever since the $5 barber school chopped part of my ear and nose off!😅 you get what you pay for!😶
No Children will also keep you very poor. But in other ways...
i certainly have changed my jobs over the years from the age of 16 to 56 i have had about 58 jobs lol some i have left because of moving some i just hated and i got made redundant from one and told i was not right for the job on one of them !
What will you do if Toronto Real estate crashes 60 percent?
I've been trying to convince a friend to see a dentist-she hasn't gone in 10 yrs & assumes because she has no pain, it's fine. She works for the state we live in, so she has good insurance. I once didn't go for years, & things seemed fine, til they weren't & I wound up needing 2 root canals within the same year. Had I just gone & taken care of things, it probably could've been avoided.
Well said. Never skip. And DO get second opinions when major work is recommended. And if no insurance, DO get price quotes from at least 3 dental practices. Can vary $1,000 or more.
The same thing happened to me. I avoided the dentist for five years, then ended up having root canals, fillings and other stuff involving needles and injections! I learned my lesson from that and now go regularly for checkups!
Buying Dr. Martens shoes (not boots) when I found them on sale 10 years ago (they were still not cheap though) really changed my perspective on consumption. They are some of the most comfortable shoes I've ever worn, and I've worn them to death. After a decade of wearing them, they only look a little worn out. Before, due to my extensive walking, I used to buy a new pair of shoes every year, if not more often. In many cases, the saying 'I'm too poor to buy cheap' truly applies.
Rich Dad / Poor Dad is pretty terrible for almost all other advice it provides. The section on assets vs liabilities is like the one good thing. I think some of the strategies he advocates later in the book are borderline illegal.
Yes kids keep you broke, but so do dogs!
Idk, I think children are more expensive than dogs.
If only your parents had taken your advice on the last one.😜
I saw a mirror that lights up it was 17 dollars i didnt buy it i stole it 😔 but progress lol
Just saw these videos as I finished doing a debt resolution for almost $15,000 of debt. Doesn't sound so bad until I tell you that in Feb of 2021 I left prison with almost that much in a savings account. I even had this crazy good budget to keep me on track. Now I'm married, broke, and seriously depressed. But I've been using these ideas already to start the comeback. Thanx so so much. Fuck yeah to your attitude.
10 great points. I feel living with in your means is most important. Do that and most of the other things will follow. Yes children are expensive and I feel pets are too. That’s why I no longer have pets. Last year I had to put down my 12 year old cat. At 70 if I got another pet it would cost me way more than I can afford on social security and it would probably out live me.
have you thought about fostering a pet?
When you allowed to start spending all the money that you saved? 😅
In my mind the only acceptable debt is house mortgage debt - ive never had loans, credit cards, contract cellphones etc. Ive only had the mortgage - and i overpayed that to the max to avoid paying more interest.
Finally someone who says it... thank you for validating one of the many reasons i do not want children. Love them but don't want them.
doing a side hustle-likeselling stuff on craigslist helps
If you have zero debt, you can afford more of everything.
On the note of quality, if your car needs a part replaced, check for performance aftermarket parts. For most suspension related parts, you can get a part made of steel instead of the stock hardened aluminum. It'll cost more up front, but the longer life of a steel part will save money over time.
Music background when you're talking - NO.
Agree; music does not ADD to your videos. But does annoy some of us. Please take as positive comment!
Bad management of money is what is keeping most poor.
Were broke because gas and food have doubled and there are no jobs left.
Have you waited a week or a month to buy something?
I can vouch for the kid thing lol mines 21 and just requested a pair of black high top converse for her birthday lol 😂
i agree about kids we have one son and sure has cost us over the years and to be honest i have spoiled him lol !
Many Americans can't afford the doctor, especially in red states. ACA only kicks in if you make over a certain amount while medicaid ends after you make a much smaller amount. The gap is about 15k a year and they are the working poor. Add in years of parents telling kids to suck it up and the mentality is much different than places where the government prioritizes your health. I know people who found out in their 30s that they broke bones as children (which is absolutely crazy) and dental is really expensive. If you need a root canal and crown that can be over 3k and even just pulling it is $600.
I think you may not realize how absolutely horrible are healthcare system is. I knew a guy who died of a heart attack after fighting with insurance for over a year to pay for a bypass surgery.
Though diet is great and I love a long walk (giving up daily walks is the worst thing about becoming disabled) for many people food security is real and walking is not an option. I have had multiple students throughout the years that have not been allowed to play outside because death is a real possibility.
Just trying to shed some light on how terrible it is here, because though people hear the stories, I think the reality is so hard to imagine that people think it must be an exaggeration. It is absolutely insane how quickly life can fall apart in the US because of systemic issues such as the prioritization of corporations over people.
It's everywhere not just "red" states
A new CAR , The worst investment you can make.