7 Expensive Money Habits You Need To Stop
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- Опубликовано: 28 июн 2024
- In this video, I will share seven expensive money habits that can drain your bank account.
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It's amazing how society makes "saving money" seem "uncool". Spent much of my 20's looking fresh while being broke, in-spite of knowing that my expensive habits were keeping me broke. It took a great deal of not-giving-a-f@$# to actually ignore the comments and opinions of friends and family as I attempted to fix my financial situation. I skipped out on frequent shopping and ordering appetizers and beverages... Instead I opted for free water at restaurants and pre-gammed when going out to bars. Social pressure can be a real b****... Fast forward to today, I've been able to payoff all debt (except my house) and begin my passive income journey. I cannot thank channels like Nate's for the constant encouragement to do what will pay-off, even if peers don't think it's cool. 👍
Fantastic
And now they are punishing savers with low interest rates 😫
@@nosolar2023 actually, i am not being punished... saving money is just a means of creating a surplus of money to set aside. I've used the money that I have saved to build and invest in businesses. The stock market has been crashing so I've been investing into dividend paying companies that are getting beaten up. Hopefully it will pay off, but only time will tell.
Dude great story! That's awesome
@@CodySteckRealEstateVideos thanks Cody!
It’s not your salary that makes you rich, it’s your spending habits - Charles A. Jaffe
It's a bit of both
Agreed
Spending habits over salary for sure, but both are necessary. I focus on spending habits, because the more I make the more I pay in taxes.
@@NateOBrien Yes! So true. thank you for pointing that out.
Gotta disagree a bit... Spending habits are important of course, but it is VERY hard to get rich or wealthy, on a small salary....
I'm 50 years old and I learn a lot from your channel. When I was growing up Minimalism did not exist, at least in California. It was either excessive consumerism or hippie b.s. I'm just saying you have older fans out there.
this is cool. thank you for posting
You need advice to google for better ticket price and accommodation rates ? So here is another: Use Uber instead of Taxi, or walk instead of Uber.
Holger P. There’s no need to be rude dude. This channel is helpful for tons of people, that’s why we’re all watching him
Minimalism has existed for centuries, how do you think poor people lived? Or, those living through WWI and WWII, only the very wealthy could afford to live in luxury, the rest worked for them!
@@sjordan7085 minimalism does not equal poverty! Minimalism is a personal choice, not something you have to stick to because you don't have money >.> why are you mixing them up?
I like how you speak quickly and directly to the point. makes me feel that I'm not wasting my time.
1. Overpaying for vacations.
2. Buying a home too soon.
3. Food delivery.
4. Trusting other people too much with your money.
5. Double whammy.
6. Payday loans
.
7. Making excuses especially when it comes to finances.
Smoking and drinking is a huge expensive habit to have, I’ve learned it the hard way
Smoking is a killer in every way, financially it's such a burden. I hope you've left it behind :)
"I don't want to offend travel agents, but they're kind of irrelevant" 😂
There is still a place for them I suppose. Plenty of people 60+ who do not use computers etc
@@NateOBrien Or people who value their time more. If you have a ton of money, it's super worth it to save your own time. That said, for most people probably not...
@@NateOBrien Sometimes they have different connections than what can be found online, too. Kind of like having an employment centre look over your resume when you're not sure which resume suits your needs.
well definitely true. i personally think they actually they are are irrelevant but they are able to still reach the people that want to pay for the service instead of doing it themselves. So there is still a market for them. Good Point!
For not rich people hah
Impulsive buying on amazon. Oof.
One can easily take the cure for Amazon, considering how many orders have items missing. Way too frustrating for me to keep up with.
I had that problem but still have prime, use it for music and movie and essential buying only
So true. Same or worse temptation on eBay which has the thrill of 'winning' auctions. Now I never use it.
@@rachelrachel3214 Sure. It's called RADIO. Failing that, READ a book.
“Well, might not be the best time to go on a cruise right now...” 😂
_Unique paramination technology, have you heard about this? The technology of 2020, which will be introduced by new cryptocurrencies. There is such a PRIZM (PZM) coin, and this is its patented technology! Cryptocurrency is truly decentralized
In addition to the main forging mechanism, which does not increase the amount of funds in the system, in PZM there is an additional ParaMining mechanism that creates new coins according to standard mathematics metrics for the development of a normalized financial system in the context of the global economy. According to calculations, only such a format for the growth of the mass of coins can provide a gradual and confident replacement of all currently existing economic instruments.
I feel like Nate's channel is the dad that some of us never had. My dad made me terrified of credit cards as a child becuase of his debt and I was actually proud of never having owned one until the reality of not having a credit score hit me hard lol. Keep up the simplified yet great content :)
I hope you found Dave Ramsey by now. Credit cards are not your friend.
Great video as always Nate! My biggest pet peeve when it comes to unnecessary spending is “lifestyle inflation” when people get a bigger salary so they adjust their lifestyle expenses to match their salary and because of this, they generally never get ahead. Instead of keeping their expenses as they are, they increase them to look like “they’ve arrived”. I’m a firm believer that you can definitely go broke trying to look rich.
Your channel is a huge motivation for me and my channel, thank you so much for your value added videos!!
Reggie Bryant 💯🙌🏾
Reggie Bryant
I fell into lifestyle inflation the last few years, and is now getting back on track. Freedom is the only thing that matters, and being debt free gives me that feeling. And I am no longer stressed, deciding which CC to pay off was awful.
I love when you talk about health and lifestyle you can tell your passionate about it, and it’s a depressing truth but something we need to remind ourselves of everyday!
I love how practical and mature your contents are! Wonderful job, Nate. You're inspiring
Most expenses can be cut drastically by just putting in a little bit of effort! Awesome video mate 👍🏻
The best thing about your videos is honesty.. really love it bro 👍🏻👍🏻
Hey Nate, huge fan, I love when you put the labels on the screen when you introduce the seven habits! Missed it on this video but you usually do it!
Educating myself financially was one of the turning points of my life.
Good advice! Also don't get involved in gambling or playing the lottery. My parents spent so much money on lottery tickets, it's just such a waste of money!!
I saw my first video of you 5 days ago, literally now I have seen more than 20.
Nate, you are an inspiration, please continue to publish more and more videos, you rock!
Greetings from Chile :)
great content. I think I can come up with 10 crazy habits as well. I love your personal take on each habit mentioned. Keep them coming
Consumerism got me again after being minimalistic. Clothing has always been something I love. It did create a way to have a timeless but also a fun wardrobe I love now. Also just the quarantine trends throughout this year. I tried a lot of crafts and spent a lot.
Dope vid Nate. Bruhh I hate when I’m reading a comment and a AD take me back to the top 🤧🤧😭😭
We learned to do so many calculations at school, then at college, and nowhere do they teach us how to handle money. Here in Brazil they still believe that to be rich, you need to study. But I already see a mass of graduates and financially unsuccessful people. As Nate always describes that our habits dictate the direction of our finances.
For real. Like Jim Rohn once said - "It´s not how much money you make that counts, it´s how much money you KEEP!"
true nate! I live in Brazil and your directions are really helping me!
Its really nice to hear you being so honest, keep it up 👌🏿
23rd! Happy Travels Mr. Nate! When it comes to Financial Advice; This guy is spittin’!! 🗣📉📈🛬🛫🧳
I'm new one here , just binge watching your vids , you are just amazing , thank you ✅✅🙏
Enjoy Vienna, it's beautiful! I actually went there recently after watching your tips on how to find cheap flights! The flights only ended up costing me about £40
Thanks Nate for your videos!
Great vid as usual! One thing on buying a house though, when you pay rent you have no return on that money, its gone. When your paying a house, yeah it could be more expensive, but at least (if bought right) you will make a return on your initial investment.
Nate - Thanks for the awesome videos. You are spot on. Healthcare can be a big expense when you get older. I have heard several people say they wish they took better care of their teeth because replacements are so expensive (in the tens of thousands) and painful. Would love to see you do a video on your vacation and how you priced it out and got such great deals on international travel. Enjoy your time off!
So many good points, Nate. I saw an ABC story from May of 2019 that stated a shocking 40% of American adults surveyed said they couldn’t come up with $400.00 in case of an unexpected expense and still pay their bills. Can this true? 40%! So, kudos to you for promoting fiscal responsibility!
Nate, you are wise beyond your years, son! Your advice is sagely. I love your comment that you do not like to blame anyone else. It means that you take ownership and contemplate the consequences of all your thoughts, words and deeds. I am very proud of you. Infinite Blessings.
Very good point about self-victimization, sadly so frequent today. Thanks for the vid!
I appreciate your videos!! Thank you for existing 😁😁
Just commented I want more money content andddd there it is, you're the best.
Since you're in Madrid, come to visit Lisbon! It is just at a 1-hour flight away. I think you're videos are great, you're a great communicator, always straight to the point and with very good advice. I am a fan. Keep up the good work!
Great video again Nate! I think the debt consumer driven economy has resulted into a lot of over consumption rather than savings.
Thanks for the video Nate. Can you please do a video on purchasing a house .
Wow I love all your videos! Thanks for sharing this
Now you have a viewer from Brazil ... Thank you for your input.
Nate, what a fabulous vacation you have planned!! Enjoy to the fullest! 🛫
I wish I had this knowledge 20 years back when I was your age Nate.
How did you learn so much about money to this young age. Is it all from your parents.
I want my daughter to learn all this and build her wealth. I want my 11 year old daughter to watch your videos during the time she’s growing up😊
Great content and lots to learn in this video. Thanks Nate and enjoy your vacay!
More and more people are choosing the opportunity to earn income on the Internet. This year, it’s better to get income in PRIZM. This is the most reliable form of income. Paramining brings liabilities up to 30% per month.
Great advice! Here's a couple of related items: when buying a house plan on the average maintenance costs to be in the range of 1%-3% of the market value of the house; that's to cover things like repair the roof, pain in and/or out; major appliance's; it does not include yard maintenance, insurance, taxes.... Then there is marriage; most guys don't realize that when they are marrying the are marrying the family as well as the girl; and if that family has never managed to accumulate much wealth they will view your wealth as theirs and want to spend for all sorts of "good causes" like paying their medical bills because they didn't think they would ever need medical insurance.
I don't know if you allready did this, but I'd love a Video about money and travel: which credit card do you use? how are the fees? do you use a special travel-credit card? Where/how do you get some local currency?
Would be very interesting and helpful
Good tips man! Save as much as you can to put into your investments!
In this isolation we managed to save money, no going out (all restaurants and shops being closed) and I only bought books for my toddler and food. We cook at home and even not buying more gas for our car every two weeks helped a lot. I am actually decluttering again my wardrobe (it’s rather small but we live in around 55 sqm) after donating and selling a lot in the last couple of years. When I was younger I would never hustle to make more money, I’m 33 soon and after graduating in foreign languages and having no inspiration whatsoever to starting my own business I got a job like everyone else. I follow Jade Darmawangsa and found your channel 2 days ago. Jade’s 19 and she’s absolutely amazing, just like you. She started her own business at 16. I think it’s remarkable and I feel grateful that I can learn from younger generations that have a better understanding of what working smarter means. I live in Europe and I also have this irrational fear of making business mistakes. Make you could do a video on making mistakes and surpassing them? Just a though. I watched lots of your videos and I am watching some more. I actually know I’m learning useful things thanks to you so I see it as an investment.
Awesome breakdown! I have never used food delivery service, (other than pizza) and can't believe the delivery fees and tips for these services! Not a good use of money at all when you really break it down lol
Great advice! Have a great Vacation and be safe
I am for a secure cryptocurrency. I have been living on the income from the PRIZM coin for half a year now. What do you think of new technologies? I recommend this coin to everyone.
overpaying for vacation is literally shocking to me.
Hey Nate! I am a Viennese lawyer and have been following you on this channel for quite some time. I'm excited you're in my city for some days. If you wanna meet up and have a tour through the city or a quick coffee, please let me know. If your schedule is too tight, have fun in the city and don't miss out a long coffee break in an old Kaffeehaus
I would add alcohol to this list.
And cigs...and vaping...😆
Great video Nate!
So true about smoking and drinking excessively, both I don't do or at least drink in minimal quantities, I don't have to wake up the next morning also with a tragic bank balance!
love this video and the advice you gave! What part of Spain are you staying in??
Hi Nate
I follow your videos. I live in Sydney here the cost of living is very very high.
I earn less but still managed to save a lot.
I work full time but try to earn extra on weekends too. Spending only on what’s required.
It helps. Cooking at home, not buying unnecessary stuff and budgeting, extra work on weekends has really made difference 😊
Great video Nate! I wish I could get you to have a personal chat with my son, ugh, they are so bad with money :(
Welcome to Spain. I hope you have fun!
You're awesome , i love your videos ❤
Great video Nate! It seems as though a lot of the issues people face with their finances come back to a lack of Financial Literacy and simply investing or engaging in practices they don’t fully understand. Does anyone else agree?
I blame US education system not including a course to talk about financial literacy
@@hectorramirez5413 It's the same in Australia (where I am from). A lot of the fundamentals are never spoken about and in the mean-time, credit card companies, banks, car dealerships and lenders do their best to get customers and people just don't know any better :/
There are some travel restrictions in Europe ATM, just be sure to check everything before going places in Europe because some cities may be closed or restricted for tourists.
mug prop again! Love your videos - great motivation.
Again dope video Nate! Learned a lot from you and implimenting that now into my youtube as well brO!
Travel agents are often good at recommending places to get the best exchange rate. Saved a huge amount in exchanging dollars to yen
Great video 💯
Tell me if I'm wrong? Doesn't this sound like he's speaking as if it was being played back at a faster rate than it was recorded?😂😂😂
Great Content!
Liking your videos alot!
love the vids !!
I agree completely it is the spending habits that makes you rich. 100 Prozent. Thank you.
Great content as always.
Thanks!
You should create a 'movement' around the global for young kids in educating them related to finance and saving.
Solid points :)
Wooow! Thamk you nate i can relate hehe those food delivery 😥😂 thank you! 🙏
for Americans bouncing around Europe, Ryanair often sell flights for €20-ish so use a vpn to book those flights within europe
I’m sure while traveling you notice all the STUFF europeans just don’t buy. Americans hoard all this stuff that just doesn’t exist in Europe. Future video idea?
I m interesested in your comment. Can you give examples of that kind of stuff?
I’m intrigued too
we also hoard all kind of things, bro. it is a contagious habit.
I will make a video on it in the next couple of weeks here. A few things that come to mind: vehicles, bulk groceries, sneakers, guns 😂
Daniel Iles what’s wrong with guns?
Hi Nate, great video! IMO It'll be great if in the future you'll add the main things you say in writing :)
Agreed! Buying a house is usually not the most financially-smart decision, unless you're treating it as a rental property!
What do you mean treat it as a rental? As in rent it to others?..
Mui S yes
Gosh, how ironic - that high school guidance counselor probably only makes per year what you make now per month...
I know a few older people who Blame EVERYONE about their money troubles. They have a mentality that they are the victim in all situations. Obviously it hasn't helped them but they are also closed minded so they can't be helped.
Nice video brother.
Great video! Just a recommendation. Try using whiter lights. Your lights are too orange. Or maybe play around with the white balance on your camera.
I see Nate upload, I click to see the video. Nate and Chubbyemu are the only two channels I follow vid by vid.
I love your polo shirt can you share a video of where you get your black polo's?
Nate pls can you tell us what do you think happened yesterday i the money market around the word and what to expect now for people with small investment
Nate, Warsaw is still passionately waiting for you! :)
12:26 somebody has been watching jocko
Have you ever thought about adding some graphics... would be super helpful to jump around to parts that are of more interest to us
Hey Nate! If you somehow find this comment maybe you could film a video going more in-depth about finding deals on vacations or good vacation spots to go in general? I never knew you could find flights to Spain for such a cheap price! Another great video thank you! 👍
As about saving money, you need to have a supreme goal that you really believe in and strive for, or else you won't save any money. Now I have a supreme goal and I save all of my spare money, i even started to cook. In the past, no matter how many videos I watched and how many scary articles about the financial crisis I have read, I didn't manage to save anything.
Travelling during off seasons... EXACTLY! We save so much money doing that.
Hi Nate.. i want the link of the microphone that you are using in the video.
Thank u for the video.
God bless u
Enjoy your vacation man! Always learn something new. 😊
Thanks!
Yo you're in Spain! that's amazing, i've been a viewer for several months now and have learned so much from you. I'm from North Carolina, thinking about moving to D.C or Pennsylvania. I'm currently studying abroad in Spain right now, though haha.
The best solution to spending money on food is to meal prep. Cook on Sunday for the entire week
Awesome video
Everything becomes literally something
Very good