5 Financial Mistakes I've Made in the Last 10 years

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In this video I cover 5 Money Mistakes I have made in the last 10 years.. enjoy!
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⌚Timestamps
00:00 - Intro
00:06 - That Car
02:02 - Saving
03:00 - Buy Once, Cry Once
04:12 - Not Investing Earlier
05:53 - Ant vs Grasshopper
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DISCLAIMERS & DISCLOSURES ❤
This content is for education and entertainment purposes only. Nischa does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
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[@nischa]

👉🏽 My Intentional Spending Tracker (free) - nischa.me/intentionalspendingtracker

[@garrickclau]

I REALLY think this channel deserves exponential growth. So much pertinent, practical information. Forget banking, educating people on financial health, habits, budgeting, and investing IS your calling. Congratulations to you @Nischa, wishing you all the best and continued success on this channel.

[@nischa]

This really made me smile, thank you

[@irfanalley]

I think this should be required viewing in UK schools to help young adults with financial planning / management, seen too many people leave school & live WAAAAY beyond their means & are now always 'robbing Peter to pay Paul' keep up the good work

[@zo_471]

I’m so glad you just get straight to the point and don’t dribble on for ages with the intro ❤

[@oliviaacosta6239]

Totally agree. I’m 55 and now I regret a lot of unnecessary spending although I’ve saved a lot. I’m totally mentoring others especially the young individuals. I believe it’s starts at a young age to save and have a plan. I’ve done well but could off done way better. It’s never too late.

[@Mp09184]

Love your channel and videos am following for support + visibility here in the US! I particularly love that you make this information accessible and easy to understand for everyday average people to discern and understand that they too can achieve financial independence and success (on their own terms) and it’s not some far off lofty ideal. You really break down the psychological barriers because money conversations are taboo for so many reasons for so many people and they can easily shut down or dissociate as soon as money conversations come up. As a first gen and born to family of immigrants, my family still lives in survival mode mindset (they never knew otherwise) and even though I now make a decent middle class salary, I was continuing down that survival mode path had it not been for generous people like you and others I have met along the way who parted their knowledge about finances and wealth building. These are literally things that the wealthy and privileged pay for and take for granted when they inherit or come into wealth. Again, much appreciation for your time and hope many blessings keep coming your way.

[@sunnyside287]

It’s so important to hang out with people who have this mindset. The majority of people are not very good with money and aren’t motivated by future financial freedom. At least I can surround myself with KZbinrs like Nischa and other subscribers!

[@archielovesnoel]

Genuinely enjoyed the life experiences and how to learn from life choices. Your channel recently came up on my feed. I watch quite a few other financial channels and yours is definitely at the top of my list now. Almost reminds me a bit of reading the Millionaire Next Door. Practical approach that can be applied at any stage of life.

[@Greeneyedgeny7]

Love your videos! Ive been binging them because im tired of not knowing what to do with my money

[@arcticblaze1013]

Thanks so much for this video!! Straight away I’ve decided to push off the new car purchase haha

[@soundberry4747]

Amazing video Nischa! I made the same mistake buying a new car as soon as I got my first job

[@natashapieper3196]

Love your content and how relatable - but aspirational - your goals are. Keep up the excellent work!

[@alexprosper6148]

Thanks for sharing.. keep'em coming!

[@siamarafiq3774]

I always enjoy how concise, clear and full of knowledge your videos are, so refreshing 😁

[@soundberry4747]

Aren’t they just!!

[@nischa]

thank you so much!

[@tobyjacob8701]

SO glad I watched this! Thanks for sharing Nischa!

[@bewelsworld]

Thanks for putting links to book recommendations :)

[@Samuel.U]

So inspiring and informative, thank you 🙏

[@kuberanuradha]

Finding your channel is serendipity for me! Best gift for the upcoming year ✨️ 🙌 keep posting and inspiring ✨️

[@dwwdevin]

Love this video! I agree with all of what you’ve said here-excellent!! 😊

[@suzp9565]

Your videos are engaging, clear and succinct. The timing is perfect! Thank you for sharing your knowledge and talents. Great role model for women of colour.

[@sanyachawla6649]

Really enjoy your videos and can relate with the way you see money and life! Would love to know your investing habits and how you go about it :)

[@danielknowles3601]

So clear was th everything you say,also a beautiful lady saying it helps !

[@samidkhan101]

I don't know how much rich you are, but what I know that's is starting this KZbin channel (as financial teacher) will make you really rich trust me.

[@sg3918]

She'd be way above average, pretty much at the top in pure income terms, wealth who knows though she seems smart. Definitely doing well. Certainly commendable.

[@oyandakona5994]

Great content love your videos and im learning a lot

[@challaz100]

Thanks for your videos! Greetings from Amsterdam

[@idrinkyourmilkshake1981]

For real we have the same glassware. Loved your content....and your glassware ofc ^^.

[@laurianepegon]

The ant and the grasshopper story is from a French fable (La cigale et la fourmi) by La Fontaine. Every child in France learns this story in primary school.

[@MultiSweetviolet]

Thank you, that is what I wanted to say. It's a well known fable (or should be) and was not invented by the author she is quoting.

[@jayyinmadnani6312]

my favourite channel for financial advice, thanks nischa keep up the work

[@protonmarine3047]

thanks alot dear for your nice advices... wish you all the best...

[@perpetuakanyutu2610]

Thank you Nischa, this is very good advice for young adults.. 😊

[@cbrottler]

All good advice.

[@robbyagraves2492]

Omg. She makes it so easy to learn! Love Nis

[@wannaknowbad]

First off, thank you for the content!Completely off topic… you are so beautiful!

[@dariushmilani6760]

Spot on. I am embarresd to say how much money I've sent buying new cars and not starting investing earlier on. Keep up the good work.🌹❤👍

[@1Carly]

Weve all been there, and a reckless 20s brings great memories. Aslong as you /we are on track now 🙏🏼

[@May-qb3vx]

My first one would be switched to, “repairing that car.” My old car was a money heap because it was so old. It was at the major repairs stage and I chose to repair it because I couldn’t fathom letting it go. But it was a black hole of finances. I now have a car payment on a reliable car and all my car expenses are considerably less a year now

[@MrsUnderwriter]

Totally true. Also older car means more fuel consumption generally

[@marcellaarieta2222]

Thanks for this great content.

[@Ashleycreates_content]

I agree with what you’ve said about savings, I am back in work but had 2 years off as a stay at home dad while my mrs business saw exponential growth. My savings dwindled quickly and it kinda made me realise that saving money isn’t the way forward past having an emergency fund. I struggle to even know where to start with investing, the more I read the more confused I am.

[@Dr.JubairsFinance]

Really good video, great channel, I am glad that you started

[@nischa]

Thank you!

[@hanifahnamuli947]

Always enjoy your motivation to financial freedom,👍👍👍 thanks

[@priyathdesilva619]

Good advice lady love your clips

[@harshsharma9898]

Really informative!!

[@nischa]

Thanks!

[@familynalon4062]

I think the last one is so important! I went through a difficult phase when I lost both of my parents in the space of 1 year; neither of them reached the age of 70 (68 and 69, heart disease). My first reaction (ok, financial reaction) was to work hard and save as much as possible because, according to the government, I am supposed to retire at 68 so the odds of having a long and happy retirement were quite slim. But then I realised, what if I die even earlier, will my life be only about making and saving money? So now, I enjoy a bit of both, I save quite a lot of my paycheque but holidays and days out with my family are back on the program

[@nilshah6521]

Hello Nisha Best information 👌 Thanks

[@amazingdude9991]

To your point on "not buying that car" although this is true in majority of circumstances and essentially 100% of the time if it's a new car - this is not always the case. Similarly to the example given with Rolex's, when digging a little bit deeper it depends on what type. If you do extensive market research and have patience, buying specific cars can be a lucrative business opportunity and doesn't always need to result in a liability. For most people though your advice is sound as it requires a lot of hours in research to find good opportunities. Love your videos, keep up the great work!

[@nischa]

Yeah - the same goes with a lot of things. The point remains to understand whatever you are spending a large amount of money on. Thanks

[@veluv]

Thank you !

[@alexandraparri]

Hi Nischa, I'm new to your channel and I love how comprehensive and concise your videos are! I noticed you have an accounting degree and was wondering if you can make a video explaining how you made a move to investment banking. Lots of love ❤

[@nischa]

Hey Alexandra, I actually have a video on this. I did an accounting qualification whilst in banking (back office), then moved to the front office

[@Powermoves1080]

Very informative and much appreciated. New sub. Side note: I could look and listen to you talk all day, you’re so easy on the eye and dropping gems 🙌🏽☺️

[@sanfordlopez1491]

I Nischa, I love your content. I was wondering if you could please show how do I break into Investment Banking ? I am currently doing my ACA and should qualify in a few years. Would love to hear your thoughts about this. Thank you !

[@artestiknyemb5321]

Hi Mischa. First, I will like to thank for your vids. So refreshing. Secondly, I will like to know what has been the biggest challenge you had to face so far?

[@siilver1]

You would ALWAYS pop up in my feed..with that 1 particular video from around like the very end of 2023 and the beginning of 2024. But i wouldn't click on it for some reason ... UNTIL yesterday. Cause you know THIS TIME i NEEDED someone like you and the wisdom and knowledge you share with us and i was ready to learn!💕 So glad i FINALLY found you! I am hoping learn A lot from you. Thank you for posting these video💫 I am forever grateful😊 . . . . . . 3rd May 2024 at 9:45 a.m. Friday

[@asimplemix]

Love these videos! Always so insightful! 👍🏼

[@nischa]

thank you!

[@Nabilc1234]

you should show some financial spreadsheet so viewer can understand finance and budgeting more better.

[@jacc88888]

Good advice. I guess it’s all relative re investing: you are lucky that you started investing at 24. I started last year when I was 54! You still have decades ahead of you for the compound interest to really kick in.

[@You-Tuber2024]

I think the phrase is “buy cheap, buy twice”. My Nan always told me this and it’s true. Take a cheap phone charger for example, it might cost you £5 but you’ll be replacing it every few months

[@ggrocketleague9098]

Thanks for the last one

[@afriek4379]

Hi Nischa, great video again! Love that they are short and to the point! Side note: I'm watching this video with headphones on and it seems there is music in the background or edited over the video? Or maybe neighbours? Not sure. However, it really distracted me. A bit like a mosquito zooming close to your ear. Maybe I can hear it more obviously because of the headphones. But I thought I would let you know! And again, thank you for all the new tips again!

[@Curioussultan]

Hi Nischa, thanks for the video. I'm 24 and currently in the same position as you were at the beginning... just started looking at investing and how I can maximise my income . Is it possible to have a quick chat? Thank you

[@derekwelbeck9327]

Your subscriber count is skyrocketing. Well done 👍

[@nischa]

Thank you!

[@Velkairiwyth]

Ah, buy once cry once. Found that one very relevant. We call it the Vimes Shoe principle from the Terry Pratchett books. £20 pair of boots might last you a month v £100 pair of boots that last 2 years... at the 2 year mark your spending that second £100 for a new pair of boots... or youe 25th pair of £20 boots... yeah... loving your videos :)

[@chriswilkes4350]

You are being far too hard on yourself. Very few people - I am certain it's less than 1% - know how to invest at 19. You can be happy how well you've progressed since then. And the early couple of years won't matter in the long run.

[@janejustin1788]

or even have jobs at 19

[@chriswilkes236]

@@janejustin1788 good point.

[@RussianBritish]

That's true. I started to invest at 35, so practically I've lost 15 years of compounding. 😢

[@gunjanandatiq]

Hi Nischa Loved your Chanel could you also guide that spending on luxury bags is an investment or a liability? Would love if you can educate if buying luxury like Chanel etc is really worth it ?

[@ji-inroh495]

Great content. I recommend an iron-clad prenup before marriage, since you're well on your way to financial independence. Divorce is the worst financial decision anyone can ever make.

[@malcolmbirkett1347]

I agree. I lost everything. 😞

[@markd6838]

No, marriage is

[@filmwork1]

Brilliant video, loving the valuable content. :)

[@dakang425]

Yes! “Buy it nice, or buy it twice” if it’s something worth buying, spend a little more buying the higher quality and keep for years.

[@bt7119]

Love this comment 💪

[@kellychen4932]

The Federal Reserve regulates a high-risk and highly volatile asset class. I don't want to use this as an analogy, but with the shuttle missions, part of the risk/reward equation that people understand is that there might end up being a Challenger mission or two in the first hundred flights. Likewise, for a whole new class of financial assets developing at lightning speed, disaster can strike. Regulating it too early (and too strictly) could stifle its development

[@user-xp3zu9dr2m]

The saying "buy once, cry once" is another way of saying, "penny wise, pound foolish" - and I agree!!

[@brentvalente]

The buy once, cry once is something I only learned recently. I had been a very frugal much of my life and yet all the things i paid that premium for has all been worth it

[@abzg3362]

I'm starting my investigating journey at 36... I wasn't aware of positive approach to the stock market at 25 or 28....

[@iamofftoneverland1735]

Me too. I always saved money, only investment that I bought a rental last year. This year I will start investing in stock market

[@wearefamily691]

Hello in what kind of assets you think could help a financial growth in Catalonia/ Spain? I what it would be good to invest without a big budget? thnaks love your channel. learning a lot

[@C86OFFICIAL]

Well executed video.Thanks Nisha

[@gatekeeperboxing5898]

Sometimes things you think will be enjoyable turn out to be not so enjoyable and not really worth the cost or time. I prefer to consider things before jumping straight in and splashing out on what might seem to be enjoyable leisure pursuits, but might seem less so once given some consideration.

[@SwaGeZz]

My problem is finding a balance, ok you dont need the most extensive car or clothing but still you need to live you dont always gonne have à chance to drive that car or those clothes.. what is your opinion on that ? Btw love your videos

[@aidenmuller]

Love the content, keep up the good work.

[@nischa]

thank you

[@budnspud]

We bought a Speed Queen washing machine which was $400+ over the price of regular washing machines. We did our research and it is commercial grade and very solid. A good investment.

[@melissagimson1910]

I would like to see a video on offshore accounts for everyday people, the process and benefits please

[@Sasha.traveller]

Hi Nischa! Which online broker do you use for investing? Any recommendation for beginners?

[@acloudworld7625]

On point 4 about investing. I started investing during the pandemic in the stock market. It has actually cost me money. My £20k ISA is now £15k. This is through investing in tech and commodities. Companies that are supposed to be safe. Even investing now is not guaranteed to be a safe way to grow your earnings. We cannot invest in FANG or buffet type companies because the returns are so low. A lot of youtubers recommend investing as if your guaranteed positive return. I have not experienced that. What is a good investment strategy ?

[@danielsoosay1772]

As a retail Investor one advise would always to do research and never follow fully what is advertised or said by anyone. For example, it’s not the best advise to keep stock forever as what we have seen during Covid. Tech, Pharma related stock flew up and now got back to where it was 3 years back. Many retail stock investor who were just starting of did lose money as they didn’t cash out. Big guy like Warren would have good technical data that they use to make money. Don’t be surprised if they do sell and buy stock of the same company regularly. My biggest advise is to gain knowledge, read and do a data based decision. On a personal note , I only invest in big cap stock, showing good fundamentals over the years and dot have high volatility. Source for eduction - investopedia ( one of it )

[@manni192]

Sorry to hear this. Try ETF's such as ISF or VUSA to give yourself a basket of stocks rather than trying to pick a few specific stocks in the market. In terms of guaranteed returns, nothing is a dead cert but research suggests over the long term you can get a 8% annual return over a decade or more in the stock market. Overall, don't get too disheartened about your current loss and look to keep adding to your ISA over the next few years/decades.

[@remymcdermott9140]

Do you have a video talking about book recommendations?

[@Only-wn9dm]

I have Ben wanting to start investing. However some of the good saving accounts can give you guaranteed interest of up to 4% nowadays. Comparing to investment return which only have marginally higher return but riskier, is there any reason I should invest in the current high time? In terms of investing for first timer, would you suggest ISA shares or BTL properties? Thanks

[@richild3967]

The last point is my mindset at the moment

[@souravvijay697]

I am a big fan of youe videos

[@gnikhil1987]

Absloutely, brilliant content. I watched couple of your videos but never subscribed, as I am extreamly choosy. But, now watching the quality of your videos which are concise, crips and to the point. I had to hit the button.

[@nischa]

thanks v much!

[@JyotiSingh-yn4eg]

Hi Nischa, new to your channel. I must say the content in your videos is very engaging. Would you be able to make a video on starting investment at 40 or starting to plan your retirement at 40, which leaves 20 years for investment. Thanks xx

[@marinalondon7399]

Yes please and at 50 too . I changed my life at 38 moving to UK. and now now have some saving. Thinking how to invest as I am not sure if putting them in pension really good idea. I am sure there so many people who is older and still want to learn. Thank you very much in advance.

[@alastairleith249]

Same 49, trying to sort out something, but not easy especially during inflation

[@VeraCasaca]

@@alastairleith249 it's never too late. Learn, learn, learn and execute. Start investing with small amounts so that it's not overwhelming. Cut expenses. You can do this. 💗

[@alastairleith249]

@@VeraCasaca thank you for kind words

[@jacc88888]

@@marinalondon7399 I’m in my fifties and am thinking the same. I can’t really take advantage of the long term effects of compound interest so am wondering whether property investment is better.

[@catrionamacinnes2048]

Hi Nischa, love your videos! Wondering if you can advise. My parents in law want to give us £30K towards our mortgage debt but I don’t think that will lower our monthly payments and may only reduce our mortgage term by a few months. Should we convince them to let us invest it elsewhere?

[@lindajohnson3245]

where can i find your videos in investing?

[@arunkarthikr4375]

Good, Nischa. Thanks to YT for the recommendation. Please continue posting :)

[@David_Crayford]

Which vacuum cleaner do you recommend? 🤔

[@vvkzaveri]

Hi Nischa - You mention alot about investing in properties. I guess you have a number of BLT investments via a limited company with interest only mortgages.. It turned to be a great asset investment post financial crisis with ultra low interest rate for a prolonged period of time, however, would you still suggest people to get involved in property now when we are entering a very uncertain period of QT and recession.. Personally, I've looked at number of properties to invest up in North but numbers simply don't add up well enough on risk return metrics and opportunity costs involved. Happy to elaborate further but I hope you can understand what I mean..

[@vvkzaveri]

So the question really is what I'm missing here? :)

[@QFilmz]

Nischa I’ve watched all your videos & your very inspiring to me , I wanted to ask you something , you seem like a really logical & intelligent women who has a good amount of knowledge on finances, I want my little daughter to grow up & be like you , I’ve got her children books on investing & money I don’t want her mother (ex wife) or her future husband to take Advantage of any wealth or assets i give her , what’s the best thing to do to prepare her for this ? And if you fall in love with a man , do you think he’s capable of manipulating you for your finances ? do you have any foresight for this ? Thanks Nischa

[@andrewstorm8240]

I made the saving mistake but overall good advice

[@shimaalcarrim7949]

I worry that if I constantly don’t indulge & get in the habit of investing, then when I retire I won’t know what do with all the money I have

[@gaelicfootballhighlights9215]

Q: When is the best time to invest your money ? A: yesterday It's never to late ..as Robert kiyosaki says savers are loser's. Only found your channel last week and I love it , well done.

[@TheMillydi]

I think the car issue is often generalized a bit too much. Yes, a car can be a liability. But it really depends on your situation. My side hustle - if you will - is being an author. So I constantly drive to exhibitions and need a big car to transport my books. My partner's kids also live with us and we use the car to drive to our vacation destinations. So always renting a car for all of these situations would end up costing us much more in the long run. So I don't feel like "that car" is always a bad idea. It just really depends on the reasons why you're getting it. At least that's how I feel about it.

[@kostashow]

EVERY single time the same thing "buy an asset insted of a car so you can later buy a car from the asset's returns". Who ever said that the money i was gonna use to buy that car wasn't money earned from an asset for Christ sake?? There's no money tree.... had to come from somewhere those damned money!!!

[@austintexas1]

I drive my 1998 Dodge Ram. She’s a beauty! I hope she runs for a long time. She chugs down gas but I have no payment 🤷‍♂️

[@Tony_M_]

I do not know if you have done a video on educating yourself or not, but if not, could you recommend books or any other ways to help? Thank you

[@InspireRise300]

She has some videos on the books she recommends.

[@Tony_M_]

Thank you @@InspireRise300

[@threemoo]

A little heads up for non-Brits. When she says "Hoover" she probably doesn't mean the brand, she probably just means vacuum cleaner. We use the word "Hoover" sort of like using the word "Google" instead of search.

[@user-uv2yx7pu8l]

You seem to know a lot about money, just don't over share your tips with people who don't or won't show interest be careful that's all I am saying. Me personally I gain a lot of tops as far as knowledge is concerned and I hope I improve with your help good luck for the future and remember to be positive and sharp

[@japanwatchesuk5387]

Unless you know what you are doing, I'd highly recommend staying away from the watch market. It's incredibly volatile and it could make or break you. Just a thought

[@goldfries]

A few paychecks for a car ........... over here people typically take 7 - 9 years to pay off a vehicle purchase.