Thanks for watching! A quick reminder: all my videos have subtitles if you want to read along. If you enjoyed the video, please like, comment, and share with your friends so more people can learn. Don’t forget to subscribe for more content! I’d also love to hear your thoughts, ideas, and suggestions-feel free to share them here! Thanks once more for your support!
I'm very happy when more and more people find my video from recommendation, which means RUclips finally doing something good for me 😅 I'm also glad you found this video helpful to you, and you can also help me share this video with your friends and family so more people can learn and avoid these traps 😊 Thank you ~~
5:50 The house always wins. So gambling addiction is bad. Card counters: well, this isn’t true. The house can’t win against card counters. If you are playing strategically, you can mostly win by counting cards.
@@myaccount9498 Why do you feel the need to correct a small mistake Honestly how you guys operate seems like something you'd be able to write with coding if not understandable: if smallmistake: comment.reply(smallmistake)
You can live happily easily without doing anything he mentioned. Debt is the biggest thing here. You wont be able to invest much when you have 5000 in credit card debt. Imagine being charged a 20% interest rate on a $5000 debt when the average of the S&P 500 was 11% over the last 10 years. It makes more sense to pay off the debt first then invest
Let me guess before watching. 1) Accumulating expenses before accumulating income, or soon after getting income. 2) Having kids. 3) Not living within your means 4) Being too hopeful
You videos are godsend for many. Thanks, I have been saving 25% in unit trust, 25% in liquid, and budgeting the rest. I'm more richer than I ever was thanks to financial literacy. I dropped a like
9:34 Bonus going off of this is _ONLY_ saving whatever you got left after necessary expenses. Short term, it's amazing to have something left for emergencies, but long term, saving something in addition to setting aside something for a diverse portfolio of assets saves your hind for when you can't work anymore because of the power of compound interest. >Not aBot BTW
The quote is good to hear .but what if we don't have any proper ambience around us ...is it a good idea to stay isolate and build oneself or should we wait until we meet like minded people.. which one will assist us to move ourselves forward.?
Yes, it's important to find friends who align with your values! 😄 I understand because many people around me, including my family, have low financial literacy too. A lot of my friends spend their nights drinking and don’t come home until the morning. I don't recommend isolating yourself from them, but it's crucial to stand by your principles and goals. This way, you can avoid being influenced by bad habits while still maintaining your friendships.If you can't find like-minded friends in your everyday life, consider joining an online community instead. You can also start learning from RUclips and Google to stay on track! 🙂
5:50 The house always wins. So gambling addiction is bad. Card counters: well, this isn’t true. The house can’t win against card counters. If you are playing strategically, you can mostly win by counting cards.
I know some people who works at an MLM company. Quite good pay but I've noticed the atmosphere is horrible. Full of manipulation, strategy, and even witchcraft. What are your thoughts about it?
I'm confused how most people don't know this? It all seems common sense to me. Pretty much all of these one could actually learn within a video game that has a purchasing mechanic. The only thing that I could understand is not caring, and caring more about a "good time", yet there have been those who lived with less who felt better, so it just makes sense. Also, when you have money, you can improve things and it gets better anyways. In short, a win-win-win
I worked at a fast-food chain for 15 months, earning the equivalent of $100 per month (converted to USD). Later, I worked at a call center company for one year, earning $200 per month. Despite this, I’m still poor and broke because I fell into all of the top 10 'Fastest Ways to Get Poor.' Now, I have a new job and I want to change and become a better version of myself. I hope to achieve financial stability soon.
bro just a tip, whatever you draw just flip it. By that i mean the text in your videos which should come afterwards is the first thing we get to read. For example at 5:13, the girlfriends line should be the first one to be read and the brown dude should be read afterwards, but tis the other way round.
The video is really as simple as it sounds, you don't need to watch it, it's common sense stuff, don't waste money just being said in many different ways
Great vid bro needed it yeah it still boggles me how to little ppl dont know about the world of finance including my wife she saves sure but doesn't know where to put it
Item number 2 is so real. I've seen people who spends more than 50% their monthly wage. I dont know how their cashflow and intrest arent an issue. Banks and loanshark gonna be profitting like crazy from that
Video suggestion: I heard that japan would like their economy to inflate because it was deflated. Not sure If what I remember is 100 percent correct. But could you talk about deflation why its bad and how inflation (Which a word usually used in a negative context) can fix it. And if it can fix it why didn't they print money to inflate the economy.
In my "Why can't we just print more money" video, I explained inflation. But I didn't explain the whole concept of inflation. So, I plan to make another video exclusively for inflation and deflation. I also plan to start a countries economy series where I will explain some countries' economy achievement or problems. Thank you for your suggestions!
I was expecting the video to say "donate everything you have so that you have nothing". Donating all belongings and money will be the fastest way to be poor.
Yes, it's so basic that most people don't care about it and still do it as they think these are not important. 😔 So, the goal of this video is also to remind people to avoid these things. What's the point of telling people new more complicated things to avoid when they can't avoid the simple one 🙃
5:50 The house always wins. So gambling addiction is bad. Card counters: well, this isn’t true. The house can’t win against card counters. If you are playing strategically, you can mostly win by counting cards.
Yes! We can't just focus on driving on the road without noticing the pothole. Also, we can't just focus on getting rich without noticing something that can take away all the money from us 😉
How to get Poor Quick. 1. Pay Minimum ballance on credit card instead of pay it off. 2. Use buy now pay later plans at the store for multiple things. 3. Car Loan 4. Invest in a meme coin that looses 80% of it's value. 5. Put nothing in 401k. 6. Make it easy to shop online. 7. Order Uber Eats all the time and pay sky high tips on food.
I'm glad that you're excited about my videos, but I need at least 5 days to do research and write the script 😅 and another whole week to make scenes and editing, so I think it's not achievable to make the video in just 1 week... Sorry ~~~
Hello, in accounting, cars are considered assets (depreciating assets), so of course, in accounting, cars aren't liabilities. But in the personal finance field, cars are usually called liability because you "owe" money to the car maintenance, petrol, etc. I admit maybe classified cars as liability is not correct, so thank you so much for your correction 😊
Both of are right depending on the situation a entry toyota sedan for renting or doing uber or reselling or using it for transport can be considered an asset in the other hand a brand new lamborghini huracan will depreciate and have other expenses you don't need a 300kmh when you drive at most 165 both of you are right i believe but i am no professional i assume both of you know better than me
this is literally all just common sense. i cant believe i watched the whole video and there was nothing of value that i hadn't already been told a thousand times. the only pitfall i fall into is not having a budget. but i only spend money on necessary expenses so in reality i do have a budget, and that budget is 0.
I have to admit that I'm financially illiterate... I spend my money from month to month without having a budget and rn I have literally $3,50 in my balance account after paying off my debts, nah, I'm gonna start doing my budget properly from now on.
Thanks for watching!
A quick reminder: all my videos have subtitles if you want to read along. If you enjoyed the video, please like, comment, and share with your friends so more people can learn. Don’t forget to subscribe for more content!
I’d also love to hear your thoughts, ideas, and suggestions-feel free to share them here!
Thanks once more for your support!
Hi I just want to ask you, where do you get this text to speech sound?
I take 2.3k+th ticket viewer. This based. 👍
@@MatthewHsu9 Elevenlabs 🙃
@@davidarvingumazon5024 Thank you for watching! Welcome to Explains 101 community!!! 🎉
Marriege?
I love the quote "if you're the smartest person in the room, you're in the wrong room".
bro saved 13K people from poverty
28k*
46k*
55k*
@@Empty_Bottle 56k*
59K*
I don't know how this video was recommended to me, but I genuinely needed this. Great Video man!
I'm very happy when more and more people find my video from recommendation, which means RUclips finally doing something good for me 😅
I'm also glad you found this video helpful to you, and you can also help me share this video with your friends and family so more people can learn and avoid these traps 😊
Thank you ~~
5:50 The house always wins. So gambling addiction is bad.
Card counters: well, this isn’t true. The house can’t win against card counters. If you are playing strategically, you can mostly win by counting cards.
Praise the Lord
A smart man learns from there mistakes but a wise man learns from others mistakes.
*their
@@myaccount9498 Why do you feel the need to correct a small mistake
Honestly how you guys operate seems like something you'd be able to write with coding
if not understandable:
if smallmistake:
comment.reply(smallmistake)
*their mistakes...
*their, not "there".
Just dont be rich
Bro just summarized how to live happily with no financial problems in 15 minutes.
You can live happily easily without doing anything he mentioned. Debt is the biggest thing here. You wont be able to invest much when you have 5000 in credit card debt. Imagine being charged a 20% interest rate on a $5000 debt when the average of the S&P 500 was 11% over the last 10 years. It makes more sense to pay off the debt first then invest
the algorithm is on your side, bud. Keep doing what you do, it's really good. :)
Thank you for your support!!! I really hope that the algorithm will side with me this time 😊 Thank you for watching 😁
Let me guess before watching.
1) Accumulating expenses before accumulating income, or soon after getting income.
2) Having kids.
3) Not living within your means
4) Being too hopeful
This video should have 10 million views
Have Kids
I absolutely agree with you
Having 1 or 2 kids is fine but probably not 10
@@bigsmall246 Have 10 kids its about people who don't know ho to use condom
THANK YOU! I watched one stock dividend video and was swamped by "get rich quick" videos. But your video was a diamond in the rough.
I didn't have to try hard to get poor.
#1 Avoid marriage. #2 See rule #1
86% of millionaires are married
Until they get divorced.
@@joshuanickle100% of women divorced from millionaire men are millionaires.
did not attention in my health are my biggest mistake, i eat all i want, never excercise until laters i get diabetic, heart problem and many more,
@@leonardomoreira4683Except the ex wife of Hakimi. 😂
You videos are godsend for many. Thanks, I have been saving 25% in unit trust, 25% in liquid, and budgeting the rest. I'm more richer than I ever was thanks to financial literacy. I dropped a like
9:34 Bonus going off of this is _ONLY_ saving whatever you got left after necessary expenses. Short term, it's amazing to have something left for emergencies, but long term, saving something in addition to setting aside something for a diverse portfolio of assets saves your hind for when you can't work anymore because of the power of compound interest.
>Not aBot BTW
How would someone do that?
54,418k people after watching this
Them: "help this video made me poor"
Thanks. I just watched 2 videos but they were the greatest
this is the most incredible financial advice i've ever heard
Why the world is in crises when there are great teachers like you? 😂. You are doing a great job man. My best wishes and prayers with you. ❤
well they just followed step 1
Randomly found your channel. Continued to watch 2-3 videos of yours. Bro you are a hidden gem ❤
The quote is good to hear .but what if we don't have any proper ambience around us ...is it a good idea to stay isolate and build oneself or should we wait until we meet like minded people.. which one will assist us to move ourselves forward.?
you can always go out and seek like minded people instead of waiting on the universe to do the work for you
Yes, it's important to find friends who align with your values! 😄
I understand because many people around me, including my family, have low financial literacy too. A lot of my friends spend their nights drinking and don’t come home until the morning. I don't recommend isolating yourself from them, but it's crucial to stand by your principles and goals. This way, you can avoid being influenced by bad habits while still maintaining your friendships.If you can't find like-minded friends in your everyday life, consider joining an online community instead. You can also start learning from RUclips and Google to stay on track! 🙂
5:50 The house always wins. So gambling addiction is bad.
Card counters: well, this isn’t true. The house can’t win against card counters. If you are playing strategically, you can mostly win by counting cards.
And Casinos actively hunt down and ban card counters, so yes, casinos *nearly* always win
I know some people who works at an MLM company. Quite good pay but I've noticed the atmosphere is horrible. Full of manipulation, strategy, and even witchcraft. What are your thoughts about it?
Which is best book to get financial literacy?
This is a great video! More people need to see this
I thought this video had 1 million views, gonna share with everyone I know
Thank you very much!!! Not only you help more people to learn but also help me to grow! Thank you 😊
Ty for free lessons
@@Explains101
I'm confused how most people don't know this? It all seems common sense to me. Pretty much all of these one could actually learn within a video game that has a purchasing mechanic. The only thing that I could understand is not caring, and caring more about a "good time", yet there have been those who lived with less who felt better, so it just makes sense. Also, when you have money, you can improve things and it gets better anyways. In short, a win-win-win
This channel is underrated af
Bro how are you not famous your videos are awesome!
I worked at a fast-food chain for 15 months, earning the equivalent of $100 per month (converted to USD). Later, I worked at a call center company for one year, earning $200 per month. Despite this, I’m still poor and broke because I fell into all of the top 10 'Fastest Ways to Get Poor.'
Now, I have a new job and I want to change and become a better version of myself. I hope to achieve financial stability soon.
“Spend more than you make”
Meanwhile us students in uni…
as a person who wants to get poor i realy like this video
Thank you, HABIBI ❤
bro just a tip, whatever you draw just flip it. By that i mean the text in your videos which should come afterwards is the first thing we get to read. For example at 5:13, the girlfriends line should be the first one to be read and the brown dude should be read afterwards, but tis the other way round.
Bro, can you explain us how crypto works in a futur video ? 7:37
Awesome video! Much appreciated 💜
I will watch the entire video thanks!
Its pretty entertaining to watch
You give much better advice bro!!!
Didn't have to watch the video. Just wanna leave it here.
Fastest way to get poor is consumerism.
I honestly enjoy these videos ❤😂 truly
Thank you so much 😆 I'm glad you enjoyed my video 😄
I need more videos like these.I loved it👏🏻👏🏻👏🏻
Excellent Video Indeed...
I disagree about Owning a House to live ..it saves on Rent.
Overall, very useful information
great video!
13:14 what if ur the smartest person in the world?
Sir...That would be Satan; topped by God
Delulu
I just found your Channel, this is awesome. RUclips needs more Quality content like this!
Just saw this channel today and totally love it ❤
I have subscribed and im gonna learn a lot from it
Bro you are so underrated!!!
Good 👊🏾😎👍🏼 Stuff
I have shared this w/ multiple folk and have already gotten thanks
Keep up the good work ✌🏽
I love your content so much! Never learned as much while having laughed the equal amount.❤
I love this channel so informative and funny
Thãñk yóü watching from Nepal 🇳🇵😊
Why can a quality channel like this be quiet?
These videos are very good, keep going 👍 💰
Thank you for watching 😊
The video is really as simple as it sounds, you don't need to watch it, it's common sense stuff, don't waste money just being said in many different ways
If you think abt it this is just as good of advice as a video on how to get rich
Man w Video live the logic behind it and Man U have truly great skills❤
Great vid bro needed it yeah it still boggles me how to little ppl dont know about the world of finance including my wife she saves sure but doesn't know where to put it
A dope channel to subscribe!
This reminds me of the CGP Grey video many years ago about how to be as depressed as possible
Item number 2 is so real. I've seen people who spends more than 50% their monthly wage. I dont know how their cashflow and intrest arent an issue. Banks and loanshark gonna be profitting like crazy from that
Keep the great work the video is very cool and useful !
Amazing content!! Keep them coming :)
Subbed, this was a masterpiece
No. It was stupid. At least the first two points, past which I didn't watch.
Crazy I thought u had wayy more views, keep it up!
Video suggestion: I heard that japan would like their economy to inflate because it was deflated. Not sure If what I remember is 100 percent correct. But could you talk about deflation why its bad and how inflation (Which a word usually used in a negative context) can fix it. And if it can fix it why didn't they print money to inflate the economy.
In my "Why can't we just print more money" video, I explained inflation. But I didn't explain the whole concept of inflation.
So, I plan to make another video exclusively for inflation and deflation. I also plan to start a countries economy series where I will explain some countries' economy achievement or problems.
Thank you for your suggestions!
@@Explains101 Thank you. And I have watched that video fyi.
You deserve million of likes and million of subscribers
I was expecting the video to say "donate everything you have so that you have nothing". Donating all belongings and money will be the fastest way to be poor.
It's so very basic and should all be the norm, I'm quite surprised there's the need to make a video about this but hey, here I am! 😂
Yes, it's so basic that most people don't care about it and still do it as they think these are not important. 😔 So, the goal of this video is also to remind people to avoid these things. What's the point of telling people new more complicated things to avoid when they can't avoid the simple one 🙃
fantastic video
Amazing anc clear video, thanks
Great video bro! Waiting for your new videos!!!
Your videos are very informative they should go viral please remember me when you reach 1 million subscribers
Of course! I always remember my subscribers especially who's supporting me from my early journey 😊
5:50 The house always wins. So gambling addiction is bad.
Card counters: well, this isn’t true. The house can’t win against card counters. If you are playing strategically, you can mostly win by counting cards.
Sponsored ad for Value City furniture financing was an ironic touch to this video 😅
Subscribed ❤ Hope will see your videos on a regular basis
Ah the good ole reverse psychology. Works almost every time.
Yes! We can't just focus on driving on the road without noticing the pothole. Also, we can't just focus on getting rich without noticing something that can take away all the money from us 😉
The algo is on your side, great video even though its a robotic A.I voice.
Animation: 3%
Quality Content: 97%
How to make videos like this? Powerpoint? PAINT?
Before watching the video, im going to assume fast food is up there
2020 kids: how to get rich fast
Mature 2024 peoples: how to get poor fast
Live frugal and save every dime... Walah!!! You will become rich in next 50yrs😀
How to get Poor Quick.
1. Pay Minimum ballance on credit card instead of pay it off.
2. Use buy now pay later plans at the store for multiple things.
3. Car Loan
4. Invest in a meme coin that looses 80% of it's value.
5. Put nothing in 401k.
6. Make it easy to shop online.
7. Order Uber Eats all the time and pay sky high tips on food.
Great video 🎉🎉 I wait for another one .release another at least once a week new video
I'm glad that you're excited about my videos, but I need at least 5 days to do research and write the script 😅 and another whole week to make scenes and editing, so I think it's not achievable to make the video in just 1 week... Sorry ~~~
Instructions unclear, I've become millionaire
As an aspiring Certified Accountant, finance gurus definition of "Liabilities", makes me crawl. Please open a textbook.
Hello, in accounting, cars are considered assets (depreciating assets), so of course, in accounting, cars aren't liabilities.
But in the personal finance field, cars are usually called liability because you "owe" money to the car maintenance, petrol, etc.
I admit maybe classified cars as liability is not correct, so thank you so much for your correction 😊
Should’ve became a cfa instead of a cfp😢😢😂
Both of are right depending on the situation a entry toyota sedan for renting or doing uber or reselling or using it for transport can be considered an asset in the other hand a brand new lamborghini huracan will depreciate and have other expenses you don't need a 300kmh when you drive at most 165 both of you are right i believe but i am no professional i assume both of you know better than me
as an aspiring anything it isn’t your place to start correcting others
Good channel AWASOME🎉🎉🎉
Thank you so much!!! All my subscribers are also AWESOME ❤🎉
ong ur so underrated bro thought it was 2m views or sum
"Prison? Ah, drugs-" are my first thoughts😅 yeah cool video btw
this is literally all just common sense. i cant believe i watched the whole video and there was nothing of value that i hadn't already been told a thousand times. the only pitfall i fall into is not having a budget. but i only spend money on necessary expenses so in reality i do have a budget, and that budget is 0.
ill have individual vaults for every single expense
Buying 0dte options
this is actually helping to get rich (teaching what NOT to do)
We are evolving, just backward😂
If others are evolving backward, then make sure we're evolving forward!!!! 😆😆😆
I like this
1. Quit your job
2. Spend on credit cards
3. Don’t pay it off
14:53 proud of you bro
-now buy my courses-
Just det a divorce work fast and it's painful
Sorry to hear that... Hope you can recover and get stronger!!!
I have to admit that I'm financially illiterate... I spend my money from month to month without having a budget and rn I have literally $3,50 in my balance account after paying off my debts, nah, I'm gonna start doing my budget properly from now on.
Remember me when you get famous
This is not how the world works buddy, YOU have to become famous to be remembered
Oh i will
The house you live in is a good liability because its stabilize the rent price