MONEY TIPS I WISH SOMEBODY TOLD ME EARLIER - Clueless Conversation #5
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- Опубликовано: 19 окт 2024
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Sorabh Pant / sorabhpant
Sapan Verma / sapanv
Rega Jha / regajha
Sejal Bhat / sejal.bhat
Nirali Shah / nirali.s
Gaurang Sanghvi / askthatfinanceguy
Follow me on Instagram: / tanmaybhat
Become a member for exclusive content and privileges: / @tanmaybhat
Click here to live my life: amazon.in/shop...
"This is far outside my understanding but feels so important."
- Audience in this whole series of podcast.
I know how much Sapan earns. I am also his brother.
And i know no. Of hairs u have on your head
@@heisenberg4192 Eh S'Original
You look like the sorabh guy in the podcast
@@joicejoseph2176 work on your grammar brother
@@heisenberg4192 Oh wow! What a well thought out reply 😂
Finally, somewhere I can share my "gyaan." FYI, inflation occurs for one reason, and one reason only. It is **expansion of the money supply**. Rising prices are a symptom of inflation, not the cause. If your temperature rose, you don't have a fever. You have a fever, that is why your temperature rose. It is an important distinction to understand.
Inflation does not happen because the economy is growing; it does not happen because wealth is growing. If the economy grew and the money supply was constant, prices would fall. And that is normal. Rising prices are not normal, but we've been living with it for so long that it feels like it is.
How does the money supply expand? Government! Since money is debt-based (I know, what?), the govt can issue new money when needed. Whenever they issue new money, they steal a little purchasing power from all the existing currency, which debases the currency, and that is what causes inflation. Just think about it, if the govt is issuing a package of 20 lakh crore, where do you think the money will come from? The govt might have reserves, but a lot of it will come from inflation, which means the government will create new money out of thin air. I wish I could do that.
The US Dollar is the world's reserve currency, and not too long ago, it was pegged to gold. This arrangement was known as the **gold standard**. You could literally walk into a bank with USD and exchange it with gold, the amount of which was fixed. Yes, that time, the price of gold was fixed, and it didn't fluctuate like it does today. The gold standard ensured that the overall supply of USD was limited to the amount of gold that existed (or mined). Since all the world's currencies are pegged to the US dollar (even today), this kept every currency in check.
On 15th August 1971, President Nixon took the US off the gold standard (to fund a war, of all reasons), and thus begun the systematic destruction of the value of currencies around the world. Since the governments had gotten a free hand, they debased their currencies with no end in sight. The countries that over-did this experienced hyperinflation. A recent example would be Zimbabwe, but it has happened in many other countries. Fun fact, Zimbabwe had so much inflation that the prices doubled every 8 hours. In the end, they had to issue a 100 Trillion Dollar (Zimbabwe dollars). For perspective, the world GDP in 2017 was around 80 Trillion Dollars (USD). And that 100 Trillion Dollars still wouldn't buy a loaf of bread.
TL;DR: The government causes inflation. It is not necessary. It is not a result of a growing economy. It is actually quite the opposite. Thanks for listening to my TED talk.
PS: Governments are fully aware of the fact that they cause inflation. Don't believe me? Just look at the size of your coins. Coins have 2 values. Melt value and face value. Melt value is the value of the metal that was used to forge the coin. The face value is what it says the value is. If melt value > face value, then people could melt the coins and sell the metal at a profit (which is illegal). To stop this from happening, the melt value has to be kept < face value, always.
So if you notice a new coin which is thinner and lighter than the previous version (just look at Rs 5 and Rs 10 coins), you should know that the government is planning to introduce inflation in the economy.
If you want to learn more about inflation, Google "Mises Institute Inflation book". It is pretty insightful.
Me, out. Yes, I'm an economics geek.
yuvraj wadhwani dude ur awesome thanks! ❤️
Dude! You've explained it so well. And it's good be an economics geek..I must say
@@akanshatambde5692 thanks :)
🔥🔥
I cant believe i read all that with full understanding
Q. Why do comedians make more sense then anyone else..?
A: ... becoz they are honest.
B . Because they're sincere yet not "serious"
Because when humour hits your mind you slowly gets out of insecurities and understands life better.
Maybe because you are hanging out with wrong people
I personally don't talk about money with random people or even distant relatives or friends is because people take money as a very generalistic way of judging someone's worth in all aspects including how smart, hardworking, intellectual, skilful that person is. Which is not really fair. Because it depends on a lot of other factors such as demand of that particular skill, people not knowing how to negotiate, the place where you're located like even if i get a 30% hike on my salary it would be compromising on my lifestyle if I move from Bangalore to Mumbai. There are a lot of other factors too. I actually know good friends who are making lesser money than me but are equally if not more talented in their skillset. Money is just a very binary measure to judge someone (unless you're an IAS ).
Completely agree with what u say but theirs judging of u should not bother you
i couldn't understand ur last line wrt IAS?
@@vatsalsanwaria537 same dude
@@HarshVardhan-lk3bp CA Bolta tabhi thodi sense ban jaati
Very well summed up.
Tanmay is being a father to the bot army and giving financial education to them. Thanks Daddy!
He might spank u too... Just go n meet him😊
@@Lightbringer_3 I believe he might kidnap me first. Spanking is the bonus.
@@Uran.Khatola Spanking is a bonus. Said no one ever
Dudes what the actual fuck is wrong with y'all. 😂
Fucking simps.
"This is so far outside my understanding but feels so important"
-Me in 10th standard choosing between Science, Commerce & Arts
Story of my life!
Ross and Joey : they should put that on the box
same bro
"just like money, relationships compound over time"
Explain the meaning
It's a line he's lifted from Naval Ravikant.. who is a genius thinker and entrepreneur.
Sherlock what he means here is, just like money is compounded to increase in a considerable amount, such is also the case with relationships
Hmm.. tabhi log gandphati gareebi me bhi bacche paida kr lete hai
@@Phynix72 Abe😂😂😂
Tanmay's genuine concern for our youth should be appreciated.
I'll not be surprised seeing stand-up comedians entering politics in near future.
The corporate part was so needed!!
Women actually dont talk about money at all.
@@SweetSourPickle you're talking about the wrong type of money and ya, also if she does talk about that then she's the wrong type of women too. :)
@@SweetSourPickle mtt maan. Mera kya jaara hai 😂😂
@@projectbetterfinance3863 hell yes!! And that's my point. We, women generally dont talk about it, the worst part we dont even share money matters with family also.
@@SweetSourPickle ayeee.. Saysena zindabad!
Fun fact: Today morning had a meeting with my manager regarding my expectations vs what i got in April 2020 as appraisal. A little background when i was fighting for the designation i have been handling the responsibility for and yet have not been reflected on papers, things got a little ugly. When i shared my concerns with my family, my father was like “you should never ask” “this is the era of snatchers and that is what you are doing right now” his words and attitude of-course effected me even though i know better than that at my age. Back to today’s convo with my manager i told him my reduced bracket of expectations. I was pissed at my self afterwards bcz i valued my self low. Thank you Tanmay this is very relatable, the advice that you give of talking to your friends, your peers about money is very important. The conversation about money is not suppose to be felt wrong or awkward but it is what our upbringing in a conservative middle class has tough us. Sorry for the long post 😝 Incident was of today, felt like sharing.
Anyone, I repeat, anyone including our parents/ partners can have misguided concepts regarding a particular topic. If we feel it's not right, let's find out more about it.. discuss, read.. reach a balanced point..and then educate them if they want to be educated.
If not, I can definitely live my life on a more fairer term.
I'm 23 and I have zero Savings in my bank account and of course no stable job.
I just don't have guts to be independent Artists without being unsure about future...
I have ideas but I don't know how to implement it.
Yup I'm just a another broke with a architecture degree.
"How's life after completing architecture." - fellow architecture student
@@shakeebahmed565 can I catch you on insta? Wanna ask you about architecture
To simply describe Tanmay I would say "Intellectually humorous"
No that's Vir Das!
This ended too quickly.. I wanted to hear more money stories! I could listen to Tanmay talk all day honestly!!
That women story is so true.. yes we need to change and talk about appraisal when we are working the same as any other person.. let's stop being embarassed to ask for our own money
In current situation they'll rather let you go. Maybe in 2021 😂
Good luck for losing the job...
Hey Tanmay you are not only good at making people laugh but also at making informative videos..... Nice podcast!!!
As someone who has just started working, I really like listening to these podcasts. I made it an effort to make myself financially literate before uni ended, and start investing as soon as the salary starts. So now that I am earning, it is nice to see people my age have questions similar to the ones I had (or still have), and get advice on it which is applicable.
PS: Only one bad habit with money: sneakers (I am sure Tanmay will relate).
Negotiation power of employees has been ruined due to corona.
I can relate....just confused should I talk about it
Negotiation works for highly skilled people only...
It's gonna benefit the smart and honest ones in long run as companies will fight for them once situation normalises
Gaurang should have a RUclips channel of his own explaining basics of finance and giving tip and tricks to people who are new in this area. I’d love to listen to him talk about it. If he already has a channel doing it, please share the link to it.
Honest criticism: I think this would work so much better in a 1:1 format. Right now it just looks like everyone is trying to get a joke in for each time they speak and the entertainment value is being focused on more than the educational. I'm not sure if comedians are the best choices for an educational talk about money.
I really want this thing to work. I've followed Tanmay for the past 7 years. Which is why I care for this comment to recah someone within their team.
Yess!
100%
The trick with this series is to attract our generation and the new coming viewers of the new gen with the entertainment value embedded in this crucial topic that needs to be discussed quite frequently until there's normalisation of the discussion in every general conversation between you and your everyday friends. So you learn some today but also dont overwhelm yourself with the plethora of factors involved in personal finance
This is genuinely amazing. I would love to watch longer episodes like actual podcast type projects.
Dudeeee......you are just killing it in this new segment...!!!!;....I mean I am a person who is usually involved in money matters but still some dialogues are thought provoking!🔥🔥🔥🔥❤️
Tanmay, a small request- Please lower the intro volume.. hum earphones vaale behre hojayenge nahi toh
Its mother of irony that they made jokes on our economy without knowing what is inflation.
😂😂 everybody can see the problem, it takes good eyes to see the solution.
Do you?
💯💯
@@Mr.Amberman Ekdum sahi bola bhai. Maza a gaya
Also, one doesn't need to know a topic in order to crack jokes about it. The topic is not their job, making jokes is.
Thanks tanmay bhaiya for bringing some clues in our clueless lives through these podcasts.(coz im 20 and like literally clueless about this stuff)
Irony : watching this after becoming unemployed.
Sigh
Ya me too,hah
I am still unemployed but watching this 😅
13:20 So true. These discussions may have been done in news channels but Tanmay is presenting them in such an interesting manner.👍
Thanks Tanmay. This is really relatable stuff. May your friendships and money compound exponentially in a way you understand.
Tanmay, i could speak for me and a lot of viewers that by just watching these episodes makes us feel so accomplished and makes us feel that yeah we did something productive today by watching Tanmay talking and adding values to our lives. I guess this counts as a big complement for a content creator. ❤️
Thanks Tanmay it really helped me in a lot of ways . I was wasting tym watching streams never noticed urs this work .it made me clear about my money . I m too young to watch this but i m thankful i am watching this . I always knew u as a comedian . But ur advices are helping alot to me . Hopefully i will make my progress at such a level that i can meet u some day.
that's close to being "honestly" to the core but a great thumbs up !!! Close because no "numbers" or even a broad range came out. Even the best of corporates or popular CEOs / Management are "Pure Evil" when it comes to talking salaries, forget being honest about sharing.
I would just love these podcasts to be a bit longer
Agree but he is tanmay.....
They are talking about frankly speaking on money, without disclosing their own incomes.
Tanmay "OP" among the student...Thanks for making them understand the importance of finance!!! Cheers!
What is 'OP'?
@@dr.rakeshbp OP=" OVERPOWERED ";)
So part of the reason why we don't talk about money outside an extremely tight-knit set of friends or family is because of how our society has been conditioned to think about money. Aunties and uncles and their conditioned kids judge a person's worth by how much money they make. I understand that there's some correlation between one's experience, education and earning potential at a particular level of employment. But beyond that, to use money as a yardstick for one's actual character and latent skills is inherently incorrect, and does a disservice to your broader idea of being more open about monetary conversations.
In simple terms, inflation occurs when "a lot of money chases too few goods"
Basically when people have a lot of money, and the production of goods doesn't keep up with the increase in consumer income, there is a huge increase in demand and suppliers have to increase their prices.
A *little" bit of inflation is good because it's supposedly a good incentive for entrepreneurs, but hyper inflation like in Zimbabwe is disastrous for an economy.
A common cause of inflation is just government printing more money.
tanmay bhai aap jo kaam kar rahe ho na. Thank you so much . Waiting for more episodes 💯❤️
Tanmay i just wanna thank you. Thank you for having these conversations for audiences. Much love!
YOU WILL NEVER BE ABLE TO IMAGINE HOW MUCH I CRAVE CLUELESS! PLEASE RELEASE BIGGER EPISODES, PLEAAASEEE!!!
WOW
!!! Being spoken to like an adult who understands, while not being an adult who understands is NORMAL!
Wooh !! Never expected such sensible content from Tanmay !!! Great bruh !!!
this is a pretty cool channel tbh
It is great to see someone talking about liitle things which we all go through but not talk.
Tanmay bro, this series is so refreshing and cool!
A much needed talk, how I wish I had heard this sooner
Very relevant and to the point
The fact that even people who don't earn or have money are watching and appreciating this, is a testament to how crucial and required such type of knowledge was and will be!
These videos are so interesting to watch .. especially for a person like me who has just completed education and is about to start earning...laughs are a bonus
great content brother, this new channel is really doing great job in improving awareness about money. hope you will continue reaching heights. keep it up! i am also in my small way trying to create awareness around the same subject through my channel and hopefully more of us will keep learning from each other. kudos to u!
u r doing great job. been following your series - financial independence.
me too
yeah you both are doing amazing job
yeah been learning a lot. thank you guys
The episodes are getting magnificent as more and more are coming.
Keep doing this. This is important.
True : just like money relationship compound over time
Thumbnail......editing goals🔥
This is much needed topic for podcast.
I'M SO THANKFUL TO YOU FOR SHARING THIS!
WHY ARE WE NOT TAUGHT THESE IN SCHOOL?
PS - If you're into self improvement, I'd love to get your feedback on my channel, because I'm working hard to bring quality content to help people.
Thank you. God bless you 😇
If you're into self improvement, I'd love to get your feedback on my channel, because I'm working hard to bring quality content to help people.
Thank you. God bless you 😇
What is your problem man he can do whatever he wants.
Don't fight guys
@@heisenberg4192 Are you talking to yourself?
Yash bhaiya, your videos are extremely helpful! I just subscribed. Looking forward to more videos, and I'm sure you'll make it big! You deserve a million subscribers! 🙌
I'm enjoying this so much in lockdown
It was entertaining, insightful and full of wisdom at the same time. Loved it
Favorite series on this channel
great job man! love your work
Thoroughly enjoying this podcast series
Thanks tanmay! i am absolutely loving this channel. I'm learning many things which I should have been learning since school! I really appreciate you making these videos!
This is Pure GOLD
These videos need to be atleast 20-30 mins long. Really enjoying these episodes
Best series ever, keep guiding us.
This is a very good discussion. It's informal and informative. Good work
superb concept sir of talking about money
I like how Naval is now coming into pop culture.
Really loved this ep.. Thank u all!
Absolutely brilliant idea! Poke that bear!! People should be more aware and freely coversing about Money among several other prudent things!
ECONOMICS
a general increase in prices and fall in the purchasing value of money.
"policies aimed at controlling inflation"
*Thank you Tanmay sir for giving us this kind of financial knowledge*
Love this series!
Dude this is addictive, I finish watching a part and wait for like a week or so till Tanmay uploads a new one.
Best podcast about negotiation power without putting extra emotional side of the story.
Amazing as always 😍
Guy's lets name it as a honest financial broadcast.
This channel should get 1 million
This is helping me soooo much on a serious note.
It's really helping! Please keep it up.
Irony is that they all say that nobody wanna talk about there money, and they are here to start that conversation, but still nobody on his show has declared the amount of money he or she makes.😂🤣😂🤣😂🤣😂🤣😂🤣😂
Off the camera they can do. Why do u wanna know their income bro. Its totally fine if they don't wanna disclose.
@@shubhampatil9063 yeah it's fine i know. But if you want to change how the world thinks. You should start by changing yourself first na. Otherwise what's the point
@@manasarora2112 actually i haven't seen anybody disclosing their income apart from the fake gurus who want to sell u courses... its fine, tanmay is giving us good value. 😊
@@shubhampatil9063 even i agree with that and i was not complaining for anything. I was just pointing out what i thought was not right.
I really love this series I want more of these episodes
Great podcast guys.
This series is amazing and Gaurang Bhaiya is ❤✌🏼
The best podcast ❤️
Can we have a conversation about people working 9-5 jobs and how to save.
**Intro**
Rip Headphone users.
That thumbnail 😀😀 yeh daikilo ka hath🤣🤣
This podcast series is priceless. 🔥♥️
BRO LOVE YOU BRO FOR MAKING SUCH TOPICS SO LIGHT TO HANDLE
The right most person isn't allowed ro speak! I though Sorabh would speak finally and break the bias but even he said a line or so.
Hi Tanmay - really good podcast. I wish you do like a 0.5 hr podcast. There are people in the world who really require advice on how to handle money and I think podcasts like these would really help:)
I guess the whole not being able to ask for more money for a job starts from the unpaid internships, because we're suddenly grateful that atleast we're being given something now. Atleast it's when you're starting somewhere and then everything that nirali says follows.
stipend amt should atleast be paid
I wish my country had some equivalent of this cos it seems like being confused AF about money is a universal adulting problem which is massively underrated
@@projectbetterfinance3863 I'm in!
"nobody wants to feel like they're being fucked, that's the core feeling" - Tanmay Bhat. This man has a way with words I love it!
This one was great!!
I started budgeting from last month just because of these valuable videos ❤
Thank you so much Tanmay, your Clueless videos are so informative and helpful for the future. 🙏🙏🙏🙏🙏🙏🙏
Polite remark: more practical steps on personal finance, flow, assets/liabilities, personal techniques would help more than discussing on the psychology of money on people.
Exactly this just seems to casual...and no offence but these people don't seem to be too financially literate themselves
Love those episodes tanmay. Keep it up ❤️
These podcasts are really informative.. really happy to listen to people talk about money and the unsaid asthetics around money making...
Just saw chintu ka bithday and mannnnnnnn.
Its in my good movies list now