ACCOUNTANT EXPLAINS: 5 PROVEN ways to SAVE Money

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Research papers referenced:
If Money Doesn't Make You Happy Then You Probably Aren't Spending It
Right: scholar.harvard.edu/files/dan...
Leveraging Psychological Fit to Encourage Saving Behavior: www.apa.org/pubs/journals/rel...
00:00 - Intro
00:46 - "Things" have a happiness cap
03:14 - Changing your narrative
05:31 - Turn saving into a habit
06:33 - Different focal points
07:51 - Free 3-day Making Money Workshop
DISCLAIMERS & DISCLOSURES ❤
This content is for educational 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.
This description contains affiliate links that allow you to find the items mentioned in this video and support the channel at no cost to you. Thank you for your support!

[@nischa]

👉🏽 My Free Intentional Spending Tracker - nischa.me/intentionalspendingtracker

[@nida1990]

It won't let me sign up :( Can't type

[@lucillepietersen7796]

Same here

[@willlsmith8063]

Same here

[@nischa]

@@nida1990try from your phone, does that work?

[@laetitiacompain2543]

same I can't type

[@Zm54321]

I love spending on experiences rather than on excessive clothes or shoes until I realise I have nothing decent to wear to work or to workout. Great video as usual.

[@garrettk7166]

100% this.

[@creative45630]

Yep. And I find experiences (holidays, day trips) tend to be much more expensive than buying things. I’d rather have an extra pair of nice shoes to enjoy every day than a trip that costs double the shoes and is over and done with in a day.

[@priskruger314]

​@@creative45630this is what I thought as well. It's due to Inflation and hopefully will improve :/ but for now it's stuff and free experiences such as a walk

[@cfloster]

Meeeeeeeee

[@daCubanaqt]

@@creative45630 ​​⁠ Agreed. The narrative being pushed now is to spend on experiences instead of things. You are still spending. Everything should be in balance with your budget. Live within your means and you will be financially happy.

[@hoverauto2]

I definitely believe in spending on experiences rather than material things. However, I also believe that if a material thing genuinely makes your life easier and more efficient then it’s worth the buy.

[@danielkaniowski5694]

First tip was actually game changing for me. I stopped buying pointless tech items and clothes, and within under a year I cleared any credit card debt and saved half my deposit

[@GarySaini8]

Saving with a purpose, or meaning, is the biggest game changer. Mindless savings is hard, and quite frankly, dumb. But once a purpose is attached, it’s a huge motivator! Def recommend!

[@gatekeeperboxing5898]

You say mindless saving is dumb, I say mindless spending is dumber.

[@GarySaini8]

@@gatekeeperboxing5898 both are dumb. I agree!

[@robyndismon394]

There is NO such thing as 'mindless saving'. You don't need an attachment, or a reason to save based on someone ELSE'S approval or attempt at a standard

[@abhitoshghongade5098]

I do following 1 use public transport mostly. 2 always plan my future purchases 3 Spend on good food habits and a hobby i have 4 Save rest of my income.

[@howellwong11]

Don't forget medical expenses.

[@BeastTitan213]

You make it sound so easy lol..

[@howellwong11]

Rent, utilities and taxes.

[@user-nm6dr4uy3d]

I like to invest in interior decoration because I actually pay attention to it every single day. I actively enjoy my home environment every single day. But the things I don't actively focus on every day aren't really that worthy of spending money on.

[@DeputyChiefWhip]

I've just been made redundant, I feel pretty gutted at the moment , but it's a good thing I've got an emergency fund, something I didn't think of doing until watching this channel, so thank you. 🙏

[@theturkishteacher2661]

Chin up, other doors will open for you :)

[@DeputyChiefWhip]

@@theturkishteacher2661 thankyou 🙏

[@markatchison9974]

I agree. One can add value to life by taking more holidays, rather than renewing ones car, for instance. Both involve spending money, but holidays enrich the soul. The mind always wants more & can't be satisfied.

[@literaturtee]

I've been basically binge watching your videos for the last two weeks. There are so many helpful tips, so much inspiration and motivation to finally deal with my finances in a more serious way. I really want to thank your for all the hard work you've put into them and for letting us learn from your experience and knowledge. You've built something special here!

[@nischa]

It's a real pleasure, thank you for being here!

[@eiroj2008]

I agree!! Thankful to have found your video 🙏 ‘Saving with a purpose’ I love that!! Ive never been so inspired to save up my whole life🤣

[@ianwhitworth3264]

I really like your videos and am trying to get my kids to watch them. I want them to have this knowledge at their age (18&15) unlike me who didn't have the same easy access to information at such an age. Thank you for spreading the word!

[@candro5510]

There is a big caveat on buying things! It's referring to buying good quality tools that you can regularly or you can use them only once in a while. You see, there is a big difference between having 5 Prada bags or having a good set of wrenches.

[@louiseburns5153]

Hi Nisha, love your videos. Can you do a video for aging fools who partied into their 40s, bought a house very late in life, are still mortgaged at 60 and have no pension!!! But are freelance and earn good money - for now! X

[@stucunningham1]

Also applies when relationships end around that age, and you suddenly have to buy another house from scratch, refurnish, life restart basically.

[@Mwesi]

Thanks for all the advise, your channel is starting to grow on me. I just finished lesson 5 of "Rich Dad, Poor Dad"

[@samdroid5851]

I am guilty of spending more on objects rather than experiences but i love how you analysed it and made it clear how experiences can be better. I guess sometimes i am too pessemistic that I wont enjoy things so objects seem a safer bet but I need to work on that outlook.

[@anamicagauchan2236]

I am based in Nepal but have been loving your videos! It is so useful and simple to understand. Thank you for all these contents!

[@vasilivanov6977]

Very well said, managing and saving money is more important than making them

[@enelrahcreivaj]

Meaning around the saving -- true! That's why I use this online bank that compartmentalizes which saving account is for what (e.g. household items, birthday gift for mother etc). Good advice, Nischa!

[@Andrometamorphose1]

I watch your videos almost every day, they're so inspiring and informative. Thank you for your work!

[@shannin91]

I really admire the reasons you pointed out behind savings. Inspiring!

[@helenhoier1742]

Nischa - your advice to pay yourself a percentage of your income first has been game changing for me. I'm using this method to overpay my mortgage so thanks very much! 😊

[@veesvoyages]

Great video! I agree with the happiness cap. Experiences over material things is so much better!

[@Gary-mu1bu]

Your video’s are great & valuable well done! It can be a mission to get the kids to do homework but these short direct videos they are glued.

[@imWillJ]

give thanks for what you have & what you have will grow.

[@kh884488]

Wonderful post and great content. Another big benefit of experiences is that they don't take up space. Having moved from one house to another recently, dealing with clutter can be just a big hassle. Especially when clutter involves large items that people don't necessarily want like furniture. Physical assets are a hassle. Even giving them away often costs time and effort to find someone willing to take the item.

[@autobotdiva9268]

YES, making savings a system!! doing this with my 21 year old. its hard because he's in the FOMO stage.

[@peyarobbins]

Can't wait for this workshop!

[@TiaChoudhury]

I absolutely love your videos. I never really invested any time in learning about these habits and finance in general and I paid for it big time. I was running a small business without tracking anything and before you know it everything came crashing down. I’ve restarted everything and I am now investing a good chunk of my time learning and applying good financial habits.

[@trentme09]

Saw 1 maybe 2 videos and subscribed. Great content and simply put

[@teejaycarter2842]

Love your content.. You are smart articulate and full of wisdom. .Binge watching your content and sharing it to my family. You’re channel has grown so much, from last time I was here. keep it up, well deserve success.🎉🎉

[@skrunkie7338]

Thank you for the strategy's! They make total sense!

[@jzinoo5386]

Keep it up. 👍 It amazing how your channel has grew so far‼Remembered the channel when it was still small.

[@bigsly5361]

Financial Jin and Jang absolutely bang on video. Keep up great work Nischa.

[@GheGho]

I get both instant and delayed gratification from us being able to save my whole salary and we manage to live of my wife's salary (she earns less than me).

[@user-zw6fz6gb5z]

Pay yourself first is so much powerful. This is how I can afford buying now appartement that I was thinking I would never be able to buy!

[@vasumalaviya3866]

Thank you for this video. Please keep going. I’ve started saving money by watching your videos 🎉🎉🎉. Thanks again

[@jonathanjames1062]

As to saving on a regular basis, we find that having each paycheck deposited into our online savings account, then, at start of each month, transferring whatever we need for that month’s bills to our checking account.

[@maxmeggeneder8935]

I really like all of your videos. They are all honestly very good. I absolutely loved your video about how to invest 1000$. Even though that question is not relevant for me, the video really showed that you are honest and don´t just go for whatever gets you the most clicks. Which is what most finance YTers do. Keep up the good work! I wish you all the best in your endevours!

[@LeoGibson.]

Brilliant video as always Nischa!

[@vijayshah4880]

Your Vedios are timeless ideal for for generations…

[@annamira3342]

I used to buy a lot of clothes, way too many. I got depressed and gained weight and had to buy some more. I had debts that I stopped paying. One day I bought my dog ​​and everything changed. I walk her a lot and I have less need to wear chic clothes. I joined the sport and lost weight. So I can wear the clothes from before. I only buy what I need and in two to three years my debts will be paid. My second son will start his studies in two years and his school will cost ten thousand euros per year. I have to figure out how I'm going to pay for it. Thank you for your video

[@eternity2short]

Great to see you back Nischa!

[@cvstaff22]

Love this Nischa!! You’ve been helping me so much not only with what I do with my money but my psychological relationship with it

[@vbat9859]

I adore experiences with my tangible things.

[@bikenraider99]

Buy the experience, hold onto the memories.

[@daveyt4802]

Watching Nischa makes me happy!

[@normanocampo4466]

Same story with you, Madam, I SLOWLY downsizing all my stuff, which is NOT anymore relevant to my needs, Thanks for the heads up, from the Philippines with RESPECT, Cheerz

[@mimsalmin7883]

Absolutely love your videos!

[@cavandavidson1185]

Neither my wife nor I like holidays very much. Being stuck on a motorway or in an airport is hell on earth as far as we are concerned. The whole 'buy experiences not things' philosophy seems to revolve around going on ever more exotic trips. This should not be followed simplistically. Experience like growing your roses, seeing your friends and family, going for a country walk are far more satisfying for us. Having said that, we traveled constantly for years during our prime working life so we may be slightly different. I guess my point is that everyone is different and "experiences " are not necessarily for sale.

[@paulfitness5157]

Travelling to Italy and going shopping is a great experience 😌

[@unconventionalsuburbian9758]

I love what you are saying. I would have an easier time absorbing the info if you built in some pauses/breaths.

[@lijkie1]

Really nice video. BTW I can't sign up for the workshop. The link works, I just can't click on the name and e-mail boxes. They don't seem interactief but more just like a picture

[@PankajNikam]

Automating it is the easiest way.

[@zeekysweet-bg3dl]

I love your videos! They are articulate, smart, expressed well and clear! Thank you! (Also, you should know that you always look so good and well put together.) Keep it up!

[@7Jamal8]

Tipp number 1 Is top Tier i have spent so much Money on Louis Vuitton in the past

[@hollygibson1782]

It would be amazing if you could do a video about furnishing your home in an economically-friendly way! Or perhaps something on life-style habits or how your environment (home or work) can help you financially? Love your content Nischa! Thank you

[@thefulcrum]

These are great questions. When you talk about furnishing, what specifically are you trying to do? Is it like trying to have a nice living room while not spending too much money?

[@stephcode1998]

As usual! Very relevant contents. Thank you!!

[@nischa]

Thank you!

[@danwithguitar]

Best tennis tips I've ever received.

[@heartofcinema3454]

Depends on what you buy. I like buying films to view at home, for the experience, like reading a book, I use certain quality films to learn about the human condition and learn from this art form empathy of others. So material goods depend on your usage. Many of us hoard things, for the buying dopamine, and don't use them, that is a waste.

[@MalluStyleMultiMedia]

Another excellent Sunday morning video

[@AggiesVine]

Hi Nischa, missed a few uploads but I'm back. Great one as usual.❤

[@nischa]

Welcome back Aggies :)

[@willmallory9085]

Excellent video Sister

[@drnicolebeaumont7884]

Interesting as always 🎉

[@ManojAgadi]

Outstanding Information Nischa.

[@tikax2085]

Great tips, thanks for sharing

[@angelintuition1962]

Thank you 🙏🏽

[@RaeSparkleJo]

Hi Nischa, great video! What shirt are you wearing?

[@muhithmalik932]

Thank you, your videos are part of my sunday watchlist. All very insightful. Really admire your mindset and viewpoint.

[@nischa]

Thank you!!

[@nilshah6521]

Hello Nischa Excellent video very useful Thank you

[@rikeshpatel3194]

Nischa to be the new Martin lewis. You need your own show soon!

[@kumarsabaratnam4787]

Thanks for sharing your ideas. 👍

[@z.cu.k.6826]

Thanks Nischa for such informative videos keep it up!!! Looks like we are all enroute to financial freedom 🎉🎉

Good explanations. Food for thought as always. Thank you for another great video.

[@samroberts2066]

Circumstances are incredibly important as well i.e when saving for a house you have to get serious otherwise you won’t reach your goal. The hardest part for me is when you save to spend on house renovation meaning you do not have anything left for experiences or material items 🙃

[@kurtmissotten5965]

Point one is so very true!!!

[@saverasavera3652]

You speak so well

[@0Gaaby]

Great, great video!

[@siyabongamakhoba4057]

Happy Sunday!! From South Africa

[@thikolelwirinahramulifho5691]

Thought I was the only Southa here😊

[@siyabongamakhoba4057]

@@thikolelwirinahramulifho5691 nah😅 we all need knowledge

[@warrenmoon7709]

Thank you ❤

[@georgeleorgebeorge2354]

Experiences can be overrated too. The money I’ve spent on ‘experiences’ that had great reviews but I found underwhelming, like trips, restaurants etc - vastly outnumber the money I’ve ‘wasted’ on stuff.

[@macdavies539]

Memories are free and embedded for future memories

[@EnVideoZone]

Ah .. Nischa, Such wisdom

[@fatenkanaan7848]

Nischa! I think I just saw you in Dubai Marina! Would love to meet you!

[@sureshravindran1271]

Hi Nischa, Could you do a video about bringing different pension savings, together or not. I have many smaller company pensions but am trying to consolidate in one. I am not sure if this is the right decision. Please advise

[@juliekostas7322]

always such sound, approachable advisement. Thank you for the great tips!

[@slyd8r]

Off topic! If I were you, I would not have the courage to post online, it's kind of illegal to be as gorgeous and as smart at the same time! I wish you all the best!

[@1matim]

thanks, good video

[@MalluStyleMultiMedia]

Last night I went to the bar and had a good experience 😁

[@SecretSquirrel2023]

enjoying having stumbled across this channel , but you need to distinguish between being an informed evangelist entrepreneur or an exploitative entrepreneur or the salaried office holder , they are very different roles. Just investing money is simple.

[@Bobsmith-ot6si]

🙏 many thanks ❤

[@user-es7pu6lz2n]

Hi there. When is your workshop in November?

[@secretstacker]

I save via gold each month 10 to 15% of salary... If needed I can turn it into fiat trash currency in 48 hours but not being in an easy access account helps to save and it is an enjoyable way to save 👍👍👍🙌🙌🙌

[@charlotteh8174]

Just an FYI.. that's a terrible idea. Gold proces have averaged a 4% increase over the past few decades and barely meet inflation, whereas the S&P 500 averaged 9%.

[@secretstacker]

@@charlotteh8174 so typical to judge... I also have index funds for longer term and premium bonds too.. I got in on gold between 1400 to 1600 and it is at record levels right now... And if that money had sat in my bank account it would be spent on crack and hookers by now.. Yet it is now a tidy sum.. Yeah really "terrible idea" FYI.. Could be worse could have left it in metro bank 🤣🤣🤣

[@secretstacker]

@@charlotteh8174 plus the vid from nischa is about saving rather than creation

[@navathwal4149]

Hello, who are the authors of the research papers that you based your 1st evidenced based strategy on?

[@nischa]

Hi, have just linked them both in the description

[@amalianiang8002]

Nisha I love you’re channel but I’m a bit disappointed about your affiliation link on trading 212! 😢 I don’t why it doesn’t work

[@athena775.]

Hi I just wanted to say your videos are really helpful, as a teenager it's really good to learn these things in early ages since school doesn't teach us these things . I just had a question do you guys need to pay tax on your savings too I just don't know about financial law of western countries

[@afrikandreamchasers3773]

In the US you pay taxes on the interest your savings account makes annually

[@thetdproject5304]

It depends on the country you are living in. In Canada and the UK you can create a tax-free savings account.

[@athena775.]

@@thetdproject5304 thank you i am moving to Canada soon

[@athena775.]

@@afrikandreamchasers3773 tnx

[@paulfitness5157]

I own a rental property and the only way I can avoid paying tax is to put a lump sum in a pension each year ,this forces me to save which is great

[@seantormey3531]

Thank you for the very useful video. Finding the balance is the real goal.

[@davidreece3891]

can i ask how do you balance working and eating healthy while saving money it’s soo hard to do all three

[@Chrissyhappy]

I basically cook and freeze and meal plan. I buy the bigger bags of items because they’re cheaper and then batch cook and freeze. Each morning I’ll take meals out of the freezer for the evening. Things like lasagne, shepherds pie or curry. Things I’ve made in advance. It saves time when I’m busy through the week. It does mean spending a couple of hours doing it all, but there is only one ‘mess’ to clean up too. I’ll often chop salads for a few days for lunches too. Before I meal plan for a week I check the fridge and freezer and see what food needs eaten and plan round that. I don’t waste anything. I also check what’s on offer. For example if it’s peppers I’ll buy those and do stuffed peppers and add them to curry etc. it does take some though, but becomes a lot easier the more you do it. Good luck.😊

[@AllThingsDigital66]

Your videos are great, nischa! Curious to know what video editing software you use?

[@minimalistsmanaged]

Wonderful video Nischa :) Instant sub! :D