ACCOUNTANT EXPLAINS: Money Habits Keeping You Poor

[@nischa]

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

[@ieo92]

Hi Nischa, my name is Ifeanyi. Love the video and I just subscribed. I need clarification: is the buffer/stockpile strategy when you save like 10% of income for like 3-6 months and then use it to invest in stock?

[@Nikki20329]

Okay right now m an unemployed, when I'll start earning myself, i definitely will watch your video complete.

[@tru3sk1ll]

Best advice I ever got was when I was 21, they said "no matter what you make, always put 6% into retirement", they showed me all these calculators, and the value of $1,000 at different levels and I was sold, I'm 47 now and have almost 1 million dollars saved by just blindly putting in the 6%, investing in "general funds" and "letting it ride" so to speak, best advice I ever got and now I am my own bank, if I need a loan I borrow from myself, and I pay myself back interest, great thing to do when the stock market is on a downward swing

[@nathanthomas8184]

CAT lifes vs DOG lifes, when a human understands these 2 you will learn how 2 skin a cat & fetch the paper

[@wildlifewarrior2670]

The government keeps people poor

[@ankitnishad6513]

Crazy how The Cosmic Wealth Frequencies book on Borlest isn’t all over the place. People are seriously missing out.

[@adexmah]

great book !!

[@Jannemann09]

Those tips are helpful, but the most helpful tip is to being born in a wealthy family. Many many people are not poor because of their own bad behaviour but because it is difficult to escape the system. Having financial problems atm myself, I don't see how to safe 3-6 months of expenses if my income barely covers my costs

[@rasheed5457]

A lot of truth in your words. If you are serious about managing your money (even if it is as all amount at first) and have patience and discipline , you might be surprised at just how well you could do 😊

[@fermatslasttheorem6298]

That’s because this kind of advice doesn’t really work with people living in extreme poverty. If you set some money, aside for savings first, and then pay your bills later, you might not even have enough money to actually pay all your bills. So this advice would not work if you do not make some amount of money.

[@sweetangeleta]

I so agree with you. I did save 10% of my small earnings, but we, being a family of 5, problems appear where one has to put hands on the savings! Financial difficulties are higher than one's income these days!! These Tips are very good for a single or a couple not for families where only one person earns and the partner hardly finds a job, even an odd job!

[@liateapot2313]

Same here. 27. Barely beginning to see daily MEAL. It's a very nice day if there's daily MEALS. Body is so damaged from childhood poverty living that i can't keep jobs for long since they break my body a little each time (currently with two broken ribs and very damaged foot). Had to drop out of high school to help with money. Always been living pay cheque to pay cheque. No foundation to rely on on but myself. My phone is from my friend who got tired of me no having anyway to contact anyone if i wasn't home to use discord on wifi after five years. The only escape i can see is using my talents but even then that is a huge questionmark But i still consider all this hurtful inconviences and not suffering. I will overcome with God's strength♡

[@hotsauce4dayz222]

There also comes a point of personal responsibility

[@amysofia5783]

I grew up always being warned by my parents "live below your means". In other words, rather than buying whatever you CAN afford, instead buy items at price points a little bit lower than that. So if you can afford a $500,000 house, aim for one at $400,000 or $300,000. If you can afford a brand new $30,000 car, buy something cheaper like a $20,000 or a used vehicle. It means they you can still live a great life but you will never be stretching yourself thin and can actually build savings and invest in your future.

[@jeanmariehicks]

This is great advice

[@mj8495]

And it is not price alone, buy quality that will last longer and cost less to maintain. Sometimes that means waiting until you can afford the better quality product

[@johnlyndsay]

@@mj8495 100%

[@johnlyndsay]

@@jeanmariehicks the best EVER advise.

[@bc_usa]

@@mj8495 Buy once cry once.

[@ทนานาจพวงไธสงฆ์]

The fact that nobody talks about the forbidden book The Mystic Labyrinth on Vexoner speaks volumes about how people are stuck in a trance

[@IamJonny-o4v]

Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.

[@LUCIASMITH-d1z]

Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment

[@MattsMkia]

The truth is that people are finally waking up to the fact that our systems are breaking down in thousands of different ways all around us. Personally, the financial market seems like the only way to go with my long-term horizon (accumulated about £557,000 in earnings since May 2021), but if you don't have that time luck, it's a tough market out there down almost nowhere feels safe!

[@JacobsErick-u8r]

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings?

[@MattsMkia]

Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@TinaJames222]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing.. I will write her an e-mail shortly.

[@SuriatiSupaniChannel]

1. Pay yourself first 2. Get comfortable to buy bad debt 3. Not having a stockpile. 3-6 months living expense. 4. Not knowing how much is your income & other expenditure 5. Expensive hobbies 6. Focus purely on savings. Explore how to make more money 7. Pay too much taxes. How can u legally reduce your taxes 8. Waiting too long to invest. Dont put all in savings bank

[@Sai_______]

I was in search of you.. 🙏🏾 God bless you Good Samaritan 😁

[@Dgsjxx]

Love these lol

[@maudestephens7086]

I wish I could do this, I'm ill, and can't afford it.

[@toriambrr]

i just made the “pay yourself first” switch a couple weeks ago after being desperate to save up enough to move. i realized i wasn’t gonna save anything major by just saving what’s left over. now i SPEND what’s left over. it’s harder but it’s so worth it and i’m so proud of myself

[@jenb4799]

yes, I found it a hard switch at first, but hard choices make an easier life!

[@djsensacion7]

I actually did this, but instead of the money just sitting in a Savings account not doing nothing, Once I reached $1,000.00 i put the money in a Secured Credit Card to help boost my credit.

[@kj7653]

You deserve to be proud of yourself. Good job!

[@mariaschafer9427]

@@djsensacion7 Yes, great choice if you need to recover and rebuild your credit. If you are regularly spending (and paying off the balance each month) on the card, then it's still time to pad your savings account too!

[@counterleo]

If by moving you mean buying a property, and you are a first-time buyer in the UK, I would suggest looking at the Lifetime ISA. Maxing it out each tax year has become my first priority when it comes to "paying myself first".

[@JulianBenjamin3d]

Investments are the roots of financial security; the deeper they grow, the stronger your future will be."

[@DeborahMicheal6k]

The deeper your investment roots, the stronger your financial security will be in the future.

[@SebastianNoah5e]

Exactly! With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future.

[@DanielChirsq1]

I would love an introduction to an adviser who can help me strengthen my financial roots.

[@SebastianNoah5e]

My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.

[@DanielChirsq1]

Thank you for this amazing tip. I just looked the name up and wrote her.

[@Hellanissan7]

I’m a corporate finance professional. Over the years I’ve seen many accountants remain poor as well. Aside from better financial upstanding and literacy. The biggest factor I believe is discipline. People really struggle with it.

[@jossyj1]

🎯

[@elbb6623]

You don’t need a education or study to know what keeps you poor. Easy, high rents and other high expenses.. grocery become more expensive while the salary stay the same

[@JesusIsLord7773]

@@elbb6623 the best solution for this right now is family helping each other out.

[@AnnaPugacova]

Agree!!!

[@silverstar4289]

Yes, a friend has a cousin who is a finance professor. He asks him “why don’t you have any mo eye?”

[@williamhenry3591]

It makes good sense to automate savings. I would not automate spending, because it is a good way to lose track of what is going out

[@carmenramos528]

Interesting

[@marialee1565]

I have been working with this company for over two years and they're the best investment guidance that guarantees my ROI. I am a huge fan of their portfolio manager because he always invests in the right stocks and trades at the right time so that I can get the best ROI possible. He is also a great person to talk to if you want to learn more about investing.

[@marialee1565]

He often interacts on Telegrams with the user name below

[@marialee1565]

Brianpearcefx

[@carmenramos528]

I just looked up this person out of curiosity and I'm super impressed with his Intelligence. Also I was able to contact him. Thank you so much

[@susannatuttapanna2010]

can I also add: don't pay full price unless there's no alternative. Most stores have year round sales these days, and there are cyclical discounts such as Christmas sales, Black Friday, Summer sales etc where you can get deep discounts. It takes a bit of patience but if you wait for one of these opportunities to buy the thing you want, you can save so much (and never buy anything in a sale you wouldn't pay full price for!). There are also lots of places to buy second hand or refurbished goods that are as good as new, and many places where you can get things totally free, such as freecycle.

[@andrij.demianczuk]

Finances are like nutrition. If you don’t care about it, it runs away with you and you can never get ahead and focus on the OTHER things that matter. When you care about your finances you are in essence making yourself healthier as you would by eating better, exercising or learning.

[@brunospasta]

Dont agree. I dont care about finances and are very happy about having one less thing to care in my life : )

[@EmmanuelKMichael]

​@@brunospasta ignorance is a bliss

[@brunospasta]

@@EmmanuelKMichael It is! Choose your "battles". You cant focus on everything. Then again, some might not have the luxury to ignore their financial situation. So my statement is coming from quite the privileged point.

[@tracyabernathy4591]

As beautiful as it sound snot everyone can become rich it is hard too make tha think of koney mot everyone is smart enough either.

[@abhi4u20]

Three things i will add on. 1. Never get a credit card if you're clumpsy in financial management. Credit card comes with financial decipline. If you are ready to decipline yourself then go head or else don't get it. 2 Avoid food which says ' Content added sugar' in super market. This single decision will keep you healthy and wealthy 3 Save for passion. Have passion for which would like to spend. This will motivate you to save. Plan your spendings.

[@auntlalanyc]

Pay your credit card bills every month.

[@silviamouret3689]

prepaid credit cards are much cheaper than ordinay credit cards an you spend only whats on it

[@fredbecker607]

​@@auntlalanyc most people don't have the discipline to do that. If you are disciplined, it can work.

[@jimflagg4009]

@@auntlalanyc Yes. I think everyone should have a credit card because there are times you will need it like if you break down and don't have cash. Just keep it payed off. Never charge something you could not afford to pay in cash. If you need something like a car or a wedding ring then there are other better financing options for those.

[@tekknorat]

I'll add one thing: just be rich.

[@williamschlotterer9802]

My wife and I figured these things in our thirties (We're now in our sixties.). We are now debt free with money in investments and the bank, both. Thank you for sharing with others.

[@AnkushKumar-rf7qj]

Anyone else here obsessed with Secret Pathway To Triumph? It's like discovering a secret treasure map for wealth!

[@greatsidders]

Hi Nischa I am a financial advisor and have recently started following you and got to say I love the content. The biggest plus was the strength you showed when you weren’t getting enough views but you kept going. Hats off

[@MaxWell-pp9zs]

Breaking bad money habits and investing wisely reminds me of the time I made a conscious effort to save $200 a week for 14 years. It wasn’t easy, but staying persistent paid off, and I eventually watched my savings grow to $3M through investing. Seeing those small steps turn into something significant has been incredibly fulfilling.

[@MarjorieRyanJoy]

to be realistic, Luck plays a significant role more-so than the resources to thrive with investing. without it, it's challenging to succeed

[@MaxWell-pp9zs]

when its consistent, its not considered luck. I credit this to research that led me to Emily Ava Milligan, 140k into over three million and counting, only a top fund manager like her can achieve that

[@MarjorieRyanJoy]

I pasted her name into my browser, and her website popped up. The sessions were filling up fast, and it was very insightful. I wish I had a tangible example like yours to reference earlier. I'm thankful for the share

[@GLADIATOR-tz7yt]

I'm expecting a 135k return. I hesitate to point out small details but the value you get with her are apparent in no time

[@DenzerRodis]

Thanks for the video. Each bag is a work of art. I learned a lot through videos. Thanks. *hotdups* I am honored that patience is an important part of life. Thank you for taking the time to show us luxury items,

[@GeorgeWilliamSinclair]

just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

[@adelineChulack]

Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge

[@iuordanmatkov261]

very true.. even without having the right knowledge on lnvesting, I started pulling close to a million anually and all i really did was just get an advlsor

[@MonaghanMLOUISE]

I sincerely aspire to establish a secure financial future and I'm eager to participate. who is driving force behind force behind your success?

[@iuordanmatkov261]

I'd say little due diligence on "Dianne Sarah Olson" truly exceptional...

[@lihuabenchen]

just seen her page online... thanks for info.. truly exceptional...

[@daydreamer548]

Yes! Please cover tax breakdowns as I often struggle with it. Please cover more complicated scenarios e.g. full time + 2nd job/locum work etc

[@beatbonjon1384]

Yes I would Lv to sell on eBay I work for minimum wage but if I sell on eBay will I be in a high tax with having 2 incomes 💁‍♂️

[@VeraV]

yessss agreed!

[@HariPrasad_Chepyala]

@@beatbonjon1384 0:47

[@curstinw6420]

Yes so many have side hustles which makes taxes intimidating

[@bill_jennings]

You, me, and everyone else struggle in this area, don't we? Peace

[@graano09]

YES YES YES, a video on taxes would be amazing. And any advice on where people can start educating and reading about it themselves 🙏Knowing how to legally reduce your taxes is soooo important. And obviously this information isn't lying around to be acquired easily. I myself have studied economics and it just baffles me that a lot of practical basic economics stuff isn't taught to everyone. I have recently started a side hustle with great potential and I have seen the growth and possibilities, so naturally I started expanding my knowledge about how to keep investing and keeping as much of the money I'm making. It takes a while to get a complete picture of everything you need to keep track of and to make it part of our lives. But when you do, the results are amazing. Keep up the good work.

[@daviddubois5913]

I’m so thankful my parents thought me about budgeting and putting money aside for Emergencies. Those lessons have given me the opportunity to live comfortably and not worry about money problems.

[@victorhardin2186]

That.. and being white.

[@kofio7581]

​@@victorhardin2186 Why bring race into it?

[@jimcanterak7349]

Yeah, what happens when you don't make enough to put aside? Rich people cannot understand a different perspective.

[@daviddubois5913]

@@victorhardin2186 your ignorant because I’m not white lol.

[@victorhardin2186]

@daviddubois5913 good for you want a cookie

[@cpalacios07]

Yes to the tax breakdowns! I’m graduating nursing school next year and I want to be on top of my finances from the get-go. Thanks for the priceless knowledge ❤

[@martin4819]

As someone who is 18 yrs into my career the best advice I can give is to do this: 1) pay off any consumer debt like credit cards. If u have student loans I’d just pay off the minimum unless they have really high interest rates like >6% for now 2) Definitely invest in your 401k to at least the amount they match because that’s a 100% return. 3) Have it set up that 4% ( or whatever isn’t a huge hardship) be automatically transferred from your checking to a savings each paycheck. Set a goal u want to reach in savings. Probably 10k is good but as u get older u may want to bump it up to 20k over time. This is your EMERGENCY fund for unexpected expenses like car repairs. This will hopefully insure u don’t have to carry over balances on your credit cards at 20% interest or whatever, which is a debt trap. 4) once u have an emergency fund then start to tackle student loans. 5) once your student loans are paid off and your emergency fund is at your set amount. Start putting that extra 4% into your 401k. In the meantime look up compounding interest calculators on the web and plug in some numbers, u will be amazed and how time is your biggest friend. For instance….going to make a lot of assumptions but let’s say u are able to start to put in 6% of a 90k salary in your 401k by the age 30 and u are getting an 8% return and u want to work 30 years….you would have over 600k! If u worked just another 5 yrs to 65 it would be 930k. In fact it would likely be much larger than this because you’d likely of been putting in 2% when u started to meet your match. Of course your salary would be larger over the years but those gains will be offset likely by inflation, that’s why with your 401k it’s important to contribute a percent and not a set amount. Anyways the point being the earlier u start the better……it takes a while to get a 401k to a large enough amount for the magic of compounding to happen but as u can see in just five years your 401k increased by 300k! Sorry if I am being verbose but I like to see young people succeed and make knowledgeable decisions.

[@bobfeller604]

Max out your retirement contributions from day one.

[@marinazagrai1623]

cpalacios...the idea is that when (not if) you start saving in your 20s, your savings quadruple by the time you are in your 50s (compound interest). Look at what is happening to 40yr olds - they were never told to save when they started their jobs (20 - 30s) and social security is running out in 8yrs. Talking of regular people not CEOs of major industry complexes.

[@todaysits]

I know most people feel trapped and hopeless, but every little tip really adds up over time. It’s like weight loss, takes a long time to put it on, long time to take it off. Thanks for sharing.

[@MalluStyleMultiMedia]

Another excellent video🔥🔥 I have 10% taken out automatically for retirement; my employer also matches up to 6%. So it’s a win win situation. I have an S-Corporation for my rental property. I live in a small house in a decent area. I have friends with homes 5X bigger than mine and they work 7 days a week. I rather work less and take vacations. Also, small house means= less utility bill amount. I do not own fancy cars. I just need to get from point A to Point B. I’m investing in myself with education. I’m in my 30s and I’m back to school now for MBA.

[@counterleo]

I earn more than I spend and I have comfortable savings, yet only ride a 125cc motorbike (and no car) despite having my full licence since 2013. People usually don't get it but as I grow older I'd rather have 95 mpg than 150 horsepower 😂 (Using freedom units since you mentioned something about S-Corporations)

[@OliverTrist]

I was not born to a rich family. But, I am now a self-made millionaire. She is absolutely correct in everything that she says... I know because this is how I achieved and sustained my wealth. I have always invested in property (real estate) even if in the early days that meant that I could not afford to go on holiday, or afford the latest phone, or expensive clothes. Always max out on your personal property purchases even if it means you can only afford sticks for furniture for a while. TOP TIP: When you acquire assets (and, no, 99.999% of cars are NOT assets) do so through a company; one for each asset. You can then loan and trade between the companies to yield tax advantages. It sounds complicated, but it really isn't. And, you don't need to have an expensive accountant to set things up for you; you can do it yourself and simply bring in an accountant when you need them from time to time. I DID THIS. IT IS POSSIBLE. YOU DO NOT HAVE TO BE BORN RICH TO PULL THIS OFF.

[@shirleyhiggins3395]

Me and my partner both worked but we have always lived on one income, saving and investing the other just in case anything happened and one of us lost our job, and so that we could retire early abroad. After 25 years of working we have retired abroad (12 yrs now) and are enjoying our life to the full. We worked hard for our money and we always make sure it works hard for us. We have never felt that we missed out on anything by trying to keep up with the latest trend - except maybe all the financial stress of being overstretched 😁

[@kaurihinniganchambers3707]

who asked

[@ribeyemgtow1783]

Did you work the same hours as him? Our money created mainly by him?

[@YesJasonYes]

This is a good example of the power of paying yourself first and avoiding lifestyle inflation. So happy for you two. Thank you for sharing your story!

[@Jaiem_]

@@ribeyemgtow1783 Maybe she earns more than him. I know plenty of women who earn more than their partner. Stop making misogynistic assumptions.

[@martin4819]

I’m a single income household but if I was married this is exactly what I would do. It’s literally the easiest way to save/ invest by having that kind of mindset. Of course the one person would need to have a salary that would allow this which not every household has. Perfect example of paying yourself first. People don’t realize the power of compounding interest but that “power” doesn’t really kick in until u have a pretty sizable amount. The longer it takes to get there, time becomes a friend but not a best friend.

[@noemimedina3441]

I’m so happy I found your channel. From a complicated career transition to becoming a full time student- I’ve lost my way with finances. Your videos have given me confidence and a drive to change. YES ON TAX VIDEOS!

[@Saetang_]

Same here, let's kick back this year!

[@bradleymaravalli2851]

Would love for a tax video.

[@Icelandlover]

This is how you get a message through on YT. No fancy intro, straight to the point, No get-rich-quick BS. One step at a time. I am sharing to my friends and family. "You get success not from what you do occasionnally but from what you do consistently". Thank you for this.

[@Roymysterio]

Investing has been rather rewarding to me and I've learned that getting a good return is very much attainable if you know your way around it.

[@Roymysterio]

Luck is way off the picture. Jonas Herman, a licensed fiduciary is the brain behind my success. I've gotten into a plethora of assets with $10k spread across stocks (options and futures) for the short term and Roth IRA, index funds, cryptocurrency and ETFs, for the long term. Now with over 71k in roi, I sit back and just reinvest at intervals while I handle my other businesses.

[@Pathston]

To me, investing is not worth it and I know that's the same mindset holding me back from taking a step forward in my finances. It’s all gambling.

[@Roymysterio]

Hermanw jonas that’s his gmail okay

[@Sammytammy192]

I was nearing retirement and unsure if I was financially ready. Jonas did a thorough analysis of my assets, future income, and expenses, walking me through different retirement scenarios. His deep understanding of retirement planning helped me feel confident in my investment decisions, and he even uncovered tax-saving opportunities I wasn’t aware of. I recommend Jonas for anyone looking for thoughtful, detailed retirement planning.

[@tracyabernathy4591]

Too me investing is too expensive and risky. Very few people do it and succeed most people end up with extra debt that do this.

[@yellowfrogcommunity]

Extremely well said Nischa. This should be taught in school. We keep our food/energy/housing bills as low as possible and try to live a pure life. Most of the stuff we buy/spend money on are extremely unnecessary.

[@robertmaxa6631]

Where I live in Canada, my total power bill, is 3 to 4 times the cost of actual usage. Free after fee, is tacked on. For the gas bill, our great leader makes us pay a carbon tax. In the winter, we need heat.

[@yellowfrogcommunity]

@@robertmaxa6631 Nobody deserves to be cold, especially during the winter. These prices are not okay. Our members pay 0.04 USD per kWh.

[@robertmaxa6631]

@@yellowfrogcommunity For example, if my "usage", was $50, my bill would be between $150, and $200. It's a good thing I live at home, or else life wouldn't be affordable.

[@jonathan6665]

@@robertmaxa6631 its the same in Denmark where live. All included we pay over 50% in taxes.

[@JwiseTheRealist]

The Matrix does not want this taught in school

[@AR-pb2zh]

I started watching Nischa only a week ago and she is simply blowing up on KZbin! Incredible. Awesome tips, straight to the point, and keeps you engaged. She has the magic! Great job!

[@ajsstuff193]

Finaly a British person who talks about uk financial problems and not American Problems in dollars. With all due respect, it is hard to get uk statistics on KZbin as everybody talks in dollars and American problems Glad to have found this channel! Subscribed for sure!

[@JackWalsh-d7h]

Without a doubt, this year will be worse than the last. I lost a lot of money last year as a result of bad investment choices that I would not have made if I hadn't been so worried about my portfolio. I kept investing, but I couldn't determine whether to start paying for a house. In the end, I sold my positions, and the house needed more work than I had planned. I'm not sure how long I can keep going like this

[@CoreyLloydo]

We've all made mistakes at some point. You should consider financial planning

[@RhysHuntoffice]

Invest in companies that provide current cash flows to diversify your portfolio. I hired a planner at the end of 2022 to enhance my portfolio, and in the last ten months, I've made profits in over fifty thousand different marketplaces. Should 2023 teach us anything, it's that luck doesn't last forever. Even in times of abundance, we should put in more effort to prepare for the worst-case scenario.

[@JackWalsh-d7h]

Do you mind sharing your financial planner?

[@RhysHuntoffice]

Leah Foster Alderman

[@RhysHuntoffice]

You are most likely to find more info when you look her up.

[@yeseniabalagtas8343]

My dad came to the US when he was five and he did really smart investing when the market crash 2009. Im 26 and i feel so lost but i don’t want to have a corporate job i worked during the pandemic . i stayed in this job and quit when i didn’t see any promotions 4 years and it was frowned upon to quit .Now it’s the new thing to keep moving your job if their wasn’t potential.

[@lessimcdowell9897]

Ill give you some advice, look into earning shares instead of wages through worker cooperatives even if you have to organize your own, contact the federation of worker cooperatives to see if anyone is organizing in your area currently

[@modifiedjaymill]

Don’t fall for the okie doke, even CEO’s quit and go to different firms for better benefit or salary. The easiest way for a promotion is to find another job. Don’t feel obligated to any company they are just as much a resource as you are. You use them to eat the experience you need to make what you want or get better.

[@samislam6842]

​@@modifiedjaymill this is great advice!

[@amberbiggs]

These are great habits. Paying yourself first is something I really need to start doing. I used to be better at this, but somehow it fell by the wayside. This was a great reminder, thank you!

[@DamienMalakay]

it's paying yourself LAST not FIRST!!! lol

[@amberbiggs]

@@DamienMalakay Did you watch the video?

[@Tra_C]

@Joey Jojo She mentioned that a 'poor people habit' is paying yourself last. We should be paying ourselves first.

[@DamienMalakay]

​@@Tra_C i know what she said except ppl take that literally and pay themselves without worrying about what they owe or saving! yes for a disciplined person putting aside 10-20% is easy except it's not iterally, it's for a rainy day, for investments or for a goal I have. Ppl literally take this "pay yourself" as in "ok I'm allowed to spend these extra $1,000 on myself on whatever you want." To me pay yourself last makes more sense but if we follow this video I suppose it does but still ppl take this literally always. Remember, there is a lot more ppl living day to day, pay cheque to pay cheque than there are ppl who save enough to last 6 months or a whole year on pure savings so clearly ppl are paying themselves first. Anyway I don't like the term, it makes more sense to pay yourself last

[@ceooflonelinessinc.267]

Well, that is all easily if you earn good. But if you only earn minimum wage, it is nearly impossible to overall safe money. And it is not a secret that it costs more to be poor than rich.

[@zmartieq]

As someone who, up to a few months ago, didn’t know the difference between a credit and debit card, these shorter videos are helping me a lot as I have so much to learn. I am 30 years old and was never allowed to work and as a result, didn’t manage any of the money I was given. When I became free, it was overwhelming to see how much I had to learn, and shorter videos like yours helped me freak out a little less. ❤. Thanks for helping a gal out.

[@Rapha187]

30yrs old and not knowing the difference between a debit and credit card? Damn

[@emiliaserra1333]

@@Rapha187 that's what I thought😭😭 I'm 16 btw and being taught this stuff

[@AbigailOliviaq4l]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.

[@LincolnFelix-s4z]

Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.

[@SophiaChloé6f]

You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.

[@AbigailOliviaq4l]

Could you possibly recommend a CFA you've consulted with?

[@SophiaChloé6f]

My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

[@AbigailOliviaq4l]

Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.

[@rollinginthedeep6900]

I like that she gives the tip to start building your investments after you have your stockpile or "rainy day fund" as many people call it. I'm in my early 20's, and there's a lot of pressure to start investing early (in stocks, in retirement, etc), but I wouldn't feel comfortable doing that if I don't even have the money stashed away to take care of myself in anything happened to my parents or my job. I don't know much about investing, but I know that being aggressive probably isn't a good strategy for someone without a lot of resources or fall back plan, and I'm glad she feels the same.

[@kevinkirk3156]

I've learned that invest as much as you can into a ROTH IRA asap. It will pay the most when you hit 65 as its pre tax. Anything you do in your 20's is amplified so much byt he time you are 65.

[@peterlohnes1]

This is true, at youth aggression is fine IF the money isn't needed for something later. But right now GICs (which are guaranteed by the government and guaranteed investment of 5% for a year) are a solid no fail system...problem as mentioned, they get locked in for a year. So you can do 50% of your funds in GIC, and 25% in bonds, and 25% in stock...or even lower in stock. That will reduce your risk...however leaving it in a bank account is awful, at least look into momentum or high interest savings accounts

[@ceooflonelinessinc.267]

Well, that is all easily if you earn good. But if you only earn minimum wage, it is nearly impossible to overall safe money. And it is not a secret that it costs more to be poor than rich.

[@alisatjaden3906]

@@kevinkirk3156 Isn't ROTH After tax?????

[@bbbb1023]

You’re smart. You need cash too, you can’t rely on investments only. Can you imagine if you retired now? You would be in hell…..

[@samsaldate5828]

I already know all of this, but it’s really nice to get reminders to stick to ones goals. I really like the easy way you laid it all out.

[@martingray8350]

You must be rich as then 😂

[@PersonalFinanceFactory]

Habits are so important. Instead of get rid of "bad" habit, it's always easier to exchange "bad" habit, to better one.

[@gracerod2038]

Why is so important to learn about habits!!!

[@brianfrederickson2080]

Booze and tobacco will break you

[@laukinis1990]

@@brianfrederickson2080 can agree was on a edge and sometimes still catch myself drinking few days in a row. Im still smoking that shit is killing me i feel it, but i dont understand with what i could change thas damn habit

[@ProsperityGrowthPower]

What valuable advice! Growing up with the mantra 'live below your means' is a wisdom-packed approach to financial well-being. The idea of intentionally choosing items slightly below what you can afford is a smart way to ensure financial stability and build a solid foundation for the future. It's a practical strategy that not only prevents stretching oneself thin but also opens up opportunities for savings and investments. This mindset is a timeless principle for achieving financial success and security. Thanks for sharing this insightful perspective that resonates with many seeking a balanced and sustainable financial life!

[@praveenagounder1654]

So wat u mean 2 say is...if i can afford a 50k car, i shal go 4 a cheaper1? So dat d job is done n also i dnt hav 2 wory abr mkng paymnts if im out of budget 4 instance??

[@user-qj3zm2dc2z]

Short and right to the point. Love it. I'm 17 and trying to learn more about finances so I can be mature in my following teen years and in my 20's and so on but still enjoy. Thank you! Thank you so much for all the advice, I'm trying to do everything I can to get better at finances. I'm planning on investing, does anyone have any advice on this? I'm looking into apps in the UK that are free to use, if anyone has advice that would be great. Thank YOU!

[@sebomucenski]

whatever u do, don't gamble.

[@rhiannonsubliminals]

Wish i focused more on my future at your age! You can do amazing things! Good luck!!

[@lostinature]

I'll give you the advice I wish i know when I was 17: It's ok to live the life you want. You don't have to conform to the norm, living in an apartment and so on, if you don't want to. The stockmarket is not dangerous (educate yourself though). Having stuff don't neccessarily make you happy. persue your passion, if you have one (it's probably going to be a source of income later) :)

[@tana4283]

Best advice I can give you be nice to your parents. Almost all wealth in this country is inherited not earned.

[@ianvanessen9356]

@@h_a-wwwa little bit of alcohol has shown positive health benefits. Enjoy responsibly

[@XerxesBreakSama]

1. I save constantly 2. Loans and debts, even instalments I hate (hence I minimize those) 3. I have stocks per my financial adviser’s guidance 4. I know my usual monthly expenses 5. Gaming is my only expensive habit which I place under control, I rarely spend much 6. I invest in business and private practice 7. Well… I cant control how my taxes go. It’s automatically deducted from my income 😂 8. I learned how to do investments in my 30s… I hope it’s not too late. 9. I care about my finances. I hate not having money 😂

[@tonybrown9875]

Don't marry or cohabitate with women and you'll be able to retire in your 40s.

[@rohitmeshram5249]

Better late than never. I am in my 30s too and i just started investing. Its not much, but making progress slowly and most importantly, steadily

[@natehailu86]

Same here In my 30s . I really want to know abt investing. A less risky ones😅. Any advice?

[@XerxesBreakSama]

@@natehailu86 i have a financial adviser who helps me out in making decision. like you, im not really confident in doing investments. lol

[@Ashley-og9ti]

Um great for you ?

[@upscaleadsagency]

Nischa, thank you. I've heard a lot of these principles before, but the way you explained them (especially the real meaning of 'pay yourself first') has meant that I've really understood it. I felt it click in my brain. Thank you. You have a new subscriber. 👏🏼

[@rafaelalmeida1581]

I love the "pay yourself first" that's exactly what I've been doing for the last 5 years. As soon as I get my money every month, I get 20% and set it aside. The key point is to live BELOW your means. That is what we have to keep in mind. By doing that, not only do you not get frustrated, but also you can save big lumps of money. I always make sure to get 10% of what I make monthly and spend it on some "luxuries", whether it be buying new clothes, going to a fancy restaurant, or splurging on something I want.

[@flowwithdipsy]

75%

[@bite-sizedshorts9635]

After I pay the bills, I have barely enough for food. I can only buy stuff at the grocery store when it's on sale, and meat only when it's marked down for quick sale. There is no room to save anything but a little odd change. And that doesn't add up very quickly when so many places won't take cash. Walgreen's won't take cash for my medicine. So it would take me months to save up $10 in change. If I took out 20% of my money, some of the bills wouldn't get paid, such as the mortgage, car payment, medicine, doctor bills, electricity, water bill, phone bill, and more. I get a little over $1,000 a month. My wife gets a little more. Just the mortgage takes my check and part of my wife's.

[@simplegirlslifestyle261]

@@bite-sizedshorts9635same. I am lucky to finish the month with $0 debt, some months I am in “-“. Not such a thing as paying myself.

[@RonakKhatak]

Good video, but there's nothing specific here. I recommend everyone to find the forbidden book Whispers of Manifestation you'll be shocked by the secret money attraction techniques it contains

[@bo-sar]

So many people know these rules and still don't follow them due to a lack of patience and a desire to show off. I wish more people could focus on their wealth and happiness instead of pursuing the status game... Thanks for the content!

[@roshi98]

This all sounds like terrific advice for people who are already relatively financially secure.

[@roshi98]

thabalancedone I did. A year ago.

[@pipedream690]

I've always set a monthly budget, never used a credit card, never bought anything I can't afford, have 5 years left of my mortgage (£450 a month). With budgeting I've managed to travel the world, and have absolutely amazing appearances. People say I'm so lucky. No, it was my choice to not buy things I didn't need, to follow trends and my major out goings being spent on experiences. The highest paid job I've ever had is £30k, yet I seem to have more who are on much more.

[@grahamcarmichael6567]

Never used a credit card? You lost out on thousands of dollars, my friend. If you use a credit card for as many expenses as you can, you rack up free points that you can turn into cash. So you basically get a discount on everything you buy. So looks like you made a mistake there. Funny that you tooted your own horn about something that was a huge mistake. Maybe next time you’ll think twice before self-aggrandizing.

[@NoShadowsHere]

@@grahamcarmichael6567It's not necessarily true that credit cards give all these benefits and advantages. Much of that depends on the country and more of that on how much you spend. If you don't spend a lot of money, paying for a credit card that gives you little to no benefits only hurts you in the long run. No need to be patronizing.

[@markcollins21]

Very good advice. You will be financially sound if you listen to this advice. My dearest Grandfather taught me the rule of three . When you have your paycheck . Save some Pay your bills Finally enjoy whatever is left.. I followed this advice and have never been in debt I couldn't pay off and never had a sleepless night over money worries.

[@bite-sizedshorts9635]

I've never made enough to do anything but pay bills, and then take what little is left and buy a tiny bit of food. There was a time when all I ate was baloney sandwiches three times a day. And it was the cheap chicken baloney, the cheapest white bread, and the discount mustard that came in quart jars.

[@ruisantos8291]

Hello Nischa! I have a degree in economics and also a career in investment banking and I must say I watched twelve of your videos in one go! You are a breath of fresh air in the panorama of youtubers with finance channels. Congratulations on the content, but IMO the secret of success is in the captivating, clear, concise way of presenting and also in your personality that always shines through. There is no shortage of ingredients. Congratulations!

[@NoName-bb2pu]

I'm a BA in economics and MBA in Operations and Marketing, she said nothing overtly special here. It is things I always knew, I earn well above average and I spend not more that 40%, 60% at most, still drive a 7 year old car, have my personal office at home so I really dont spend on fuel and have a rental yield also

[@Jiri_yolo]

As a financial accountant myself I actually advise to create an excel sheet - control budget. I would create an income tab, expense tab and then a statement at the front balancing and tying in the figures from The two tabs. You can easily amend and manage the figures and it will reflect on the face of the statement. Savings is none sense IMO I would suggest likewise to invest in stocks and avoid cryptos. For each expense account I would then physically create envelopes and place the cash in them and seal them (e.g rent, motor and travel, telephone, and accruals for light and heat) that’s my best advice for people who struggle with cash flows ….

[@lfior]

physical envelopes? Then what, you pay your bills manually? Who does that in 2023? It's not even possible for most bills

[@leeacorn8198]

This was great!! I'm 50 years old and I learnt a lot from this!! Still time to put things in place for the future. This lady is very good!! Very clear and very easy to understand.

[@kirkfavre3017]

Ok.

[@SaysihgBadole]

As an individual investor, I haven't found a better program for monitoring my various accounts and Norman Vitalii is invaluable for keeping a running account of dividends and cap gains - so critical to one's estimated tax payments and year-end tax planning

[@annhaden6341]

Thank you for making these videos. My 10 year old says she appreciates you posting on KZbin because you are making it available to "people like us" and not just whoever can pay you for the in knowledge. ❤️

[@glennbellamy7004]

Thank you Nischa sent this to my daughters this is exactly how I've lived my life. And generated my wealth I've shown both daughters how. One is doing the same thing the other spends money like water although earning 60k plus is constantly complaint that shes living from pay cheque to pay cheque. This is the wake up call she needs !

[@podcast885]

Just noticed how "minimalistic" yet impressively elegant your style is, makes us focus on your point & shows you actually care about us focusing on that, not looks or you. Well done & thank you!

[@ZS5]

Whenever sellers say "I could offer a 6-month payment schedule", my answer is "I do not have a credit card, I buy when I have money, and I don't when I don't have it", this sentence gives me immense power and pride. However, I am bad at other aspects and have decided to correct my mistakes and start saving and investing. The video was very helpful. Thanks a lot.

[@beverlysiemu4425]

Thank you Nischa, for such a detailed message. Being in my lates 20's I have really grounded myself, your advice gave me a broader perspective, such as "Paying yourself First", "Paying too much taxes - find an alternative path (sole-trader), "budget tracker", and the best part is STOP spending on materialistic items, and invest on yourself, ups killing, as no one can take this away. Watching your video made me realise im actually half way through this, however opened my mind to more paths on how to overcome this. PLEASE DO MAKE A TAX VIDEO PLS.

[@dingrey]

I know you meant upskilling but ups killing is so much funnier

[@user-fn7en2tw7h]

Finally!! A video about financing tips that is clear and concise and doesn’t include a life’s story. Thank you so much! I am now a subscriber and I would absolutely appreciate a video on understanding tax rules. ✨🙏🏽✨

[@gorathegreatest]

maybe you need to read tax laws by yourself?

[@jane4657]

Yes I need help

[@jane4657]

My government just took 6 figures from me

[@tiktokcompilations6677]

Loved the video🥰Please make a video on getting into IB and internships. You're probably one of the only female KZbinrs I've seen in the industry which is so inspirational❤️

[@nischa]

I will do!

[@saudymcxo]

I love this girl she explain things so fast and good thanks you. I never in my life I have 23 now have someone to tell me bout SAVING MONEY or financial education and this information is so important for me literally is having my FINANCES.

[@earlgarcia6106]

Great advice. 'Rich' is relative. So, you have to find your 'rich'. I teach public school. Buddy of mine is a banker. I asked him for financial advice and he hit me with the truth. "You don't make enough money to be wealthy. Simple hard fact. You can be wealthy for a teacher but not wealthy compared to others with higher paying occupations" It was sound advice. Now, I don't feel like I'm doing something wrong because I'm not as wealthy as some folks I know. Being healthy financially is awesome for any tax bracket. But the cold hard truth is the best way to get rich is to make more money.

[@conorocallaghan3159]

Point number 9 is extremely important! I am 40 and never cared about finances. Now going to spend the next 25-30 years rectifying all that:-)

[@JatinKumar-n3h]

I have kept my eye out over the years whenever there is a printed review of portfolio management software. I can say unequivocally that there is not a better all-around portfolio management software program out there today. Norman Vitalii handles everything... even those esoteric transactions that no one thinks about talking about in the media. And, Quicken is not sophisticated enough to handle the transactions as seamlessly as Norman Vitalii

[@pianobiju]

Nischa, would love to see a video on tax rules and guidance to minimize your tax liabilities. Totally agree with your sentiment to save on taxes and re-direct savings to areas that align with your beliefs!

[@bitsplz]

This was so well done and helpful! I was just thinking about how much we need to understand taxes in our home as I was filing them and looking at the numbers. It’s reassuring to hear from a professional that it is indeed something to be mindful of and put time into. Thank you so much!

[@KiyosakiSays]

“The word accounting comes from the word accountability. If you are going to be rich, you need to be accountable for your money.” - Robert Kiyosaki

[@sunevanheerden]

Agreed YOU need to take control of your finances! Nischa thanks for inspiring me to start my own YT channel 🎉

[@CoconutPete]

the one factor that is going to make a huge difference is hyperinflation and the globalist agenda of making everyone slaves. Who knows, maybe in the future nobody will have money or own anything. One of the evil globalist overlords once said "You will own nothing and you will be happy"

[@DuskAndHerEmbrace13]

I think it comes from the word "to account for things" but okay sure.

[@AliZimani]

Me and my partner both worked but we have always lived on one income, saving and investing the other just in case anything happened and one of us lost our job, and so that we could retire early abroad. After 25 years of working we have retired abroad (12 yrs now) and are enjoying our life to the full. We worked hard for our money and we always make sure it works hard for us. We have never felt that we missed out on anything by trying to keep up with the latest trend - except maybe all the financial stress of being overstretched

[@MerlinAndPixie]

This advice is brilliant. I was never taught how to manage money, I'm 40 this year. Just breaking the cycle of a lifetime of trying to get out of debt. Cleared off one big card this month, lived within my means & have one card left to clear & then saving hard for a house. I'm a single mum, working full time. Saving has been hard to do but I've committed to it now. I've scaled back on all sorts of things, less meals out, less nights out - finding cheaper things to do or fun for free. Slowlt getting out of debt has released the mental load too. Thank for all the great advice 👑

[@RINAVALERIE]

I have intentionally been working on my finances since 2019. I have watched many videos but many are too lengthy or unrealistic at times. Your video is straight forward and relatable. I really appreciate your content. Please continue!!!!

[@cloudsec3279]

I believe the definition of being ‘poor’ has been enhanced to make it initially appear ‘rich’, and then leading to a way on how not to become ‘poor’. The fundamental ‘poor’ person will not have the luxury of going through these 10 things. I am not ‘poor’ hence this video incredibly beneficial though, with added charm. 😊

[@georgeklein5228]

Hi Nischa! New to your channel. I just came across your video and it reminds me advice I got from my parents. Writing down every penny of expense and knowing your income (no matter how small) is definitely live saver. When I struggled in my early 20s, that one thing - writing spending down, helped me pull through from being homeless in foreign country (only 1 week) to regular life with basic comfort. I'm still definitely not rich nor financially independent but it's okay for now

[@donm2255]

Under #4 about knowing your income and expense, I would add preparing a monthly net worth spreadsheet. At the end of every month put assets and liabilities into a worksheet to see what your net worth is. As major financial events happen, it helps to see what that does to your net worth. Buying a new car, home, investments, credit card debt, etc. At a glance you can see if your net worth is going up or down and what is causing the movement. I've been tracking mine every month since 1995. Seeing your net worth on paper (or in a spread sheet) month over month gives a pretty clearing indication if what you are doing is working.

[@omc1163]

Do you mind sharing your net worth spreadsheet format?

[@donm2255]

@@omc1163 Is pretty simple. Just start on the left with liquid assets, then the columns to the right become less liquid. From left to right: checking accounts, savings accounts, stocks/investments, retirement accounts, vehicles at market value, less vehicle loans, real estate at market value, less RE loans, personal loans, credit card debt, student debt. In the right most column add the assets and subtract the liabilities and that is your net worth. Each month just add a row at the bottom for the new month. You can also include anything material that you own. For instance a Rolex or rare coin collection. Anything that holds value and is material to your net worth. Just keep updating the estimated market value periodically. One last thing, I maintain a notes column that I update with my thoughts on what happened during the month. For instance, replacing a deck or patio. It reduces your cash (or increases credit card debt) but doesn't increase the value of your house. Adding a deck however would also decrease cash, but increase the value of your home to some degree.

[@omc1163]

This is very helpful, thank you so much for taking the time to reply. I really appreciate you sharing your experience and knowledge with me.

[@nischa]

@@donm2255 thank you for sharing this here!

[@Sensible468]

Hi Nischa, Love your consistent neutral presenting style. Totally agree with these strategies - My only comment overall is risk management. You need to look at insuring yourself to make sure that your income is protected if you fall ill and or cannot work. All the best for yourself and your channel.

[@davesrvchannel4717]

“Must be nice!” I wished I had a dollar for every time I heard this. I’ve worked part time most adult life. I’ve traveled lots of the world and debt free. People see me do it and say must be nice. They never focus on fact that I drive a 25 year old vehicle. They don’t focus on fact that I fix/repair instead of throwing away money. “It’s not how much money you make, it’s how much you do not spend” That’s my saying!!

[@DavidOwenCreates]

I like that thought process. I was doing that with my old car but I had to fix something every month and then it literally stopped driving on the highway and it was the scariest moment in my life as a semi was behind me. So as it coasted off the highway I had it towed away and caved in to buy a new vehicle. May this sort of thing never happen to your car! I at least have my new car 30% paid off in a year so paying more than the minimum definitely helps get it paid off faster so I won’t have a payment in the future for a while I hope

[@SerenityMellissa]

What do you do for insurance?

[@slchance8839]

@@DavidOwenCreates why did you buy a new car? I buy every car 6-8 years old on craigslist after exhaustively researching the cheapest, most reliable models. I've never spend more than $7000 and buy Lexus every single time. INsurance for older cars is also way cheaper.

[@eyesuckle]

“It’s not how much money you make, it’s how much you do not spend” Actually, one of the video creator's main points was that saving alone is not a path to wealth. Saving is a good starting point, yes. But then you have to invest your savings in something. Hopefully, a couple of different somethings.

[@ScienceMysteriesRevealed]

it’s harder but it’s so worth it and i’m so proud of myself

[@racyree3620]

Stumbled across your channel what sound advice!!! In my younger years I didn't card about tomorrow because I wanted to live for that day. Ugh!!! Thank goodness I have a financially savy husband who took the reins and I no longer live that way. Savings diversified, home being paid off in 24 months and retired at 52. Thank you for your channel! Plus it's always great to see a woman and a pretty one with a good head on her shoulders! Brava

[@danicertad5949]

I would love a video on taxes! I just watched a couple of your videos and I loved them! Straight to the point, clear, easy to understand

[@ProudlyETHIOPIAN]

Check out Karlton Dennis youtube videos. He has a great content on tax.

[@sagreegerdharee8909]

Please do video on taxes .not sure it will apply to South Africa’s tax laws

[@counterleo]

@@sagreegerdharee8909 No it won't, tax legislation is inherently very local.

[@ceooflonelinessinc.267]

Well, that is all easily if you earn good. But if you only earn minimum wage, it is nearly impossible to overall safe money. And it is not a secret that it costs more to be poor than rich.

[@harisdiz.5817]

You pay tax?

[@AfzalHussein]

Came across your channel 2 months ago when I think you had less than 10k subscribers! Congrats on the INSANE growth. Nice to see some female representation in the personal finance space 💪🏽👍🏽

[@Hannah-rr6ro]

not me going shopping right after my pay and getting broke in the middle of the month, thanks for this video! very helpful

[@tamask2172]

Not only "don't buy what you can't pay for without a loan", but consider what if the minute you bought that item/service, you break it, it gets lost or stolen. If this throws you in a financial disaster having to re-purchase it, then that price is probably well out of your range, and you shouldn't be pushing to reach it just yet.

[@chazzmccloud36]

I was so excited to make the final payment on my last car loan; it only took me five years to pay off... Not even a week after sending the final check, my car had a catastrophic transmission failure that I was quoted at around $4,500 to fix. The car was only worth about $3,000 by that time. That elation I felt from sending that final loan check went away real quick as I scrambled to find a beater to get me to work. Maybe I'd have had the money to fix the car if I hadn't had to make payments all that time.

[@enyapriestley1051]

This was incredible an awakening I have never experience. I was in a vibrational frequency I have never experienced before . This is powerful. ❤

[@stevekumar2017]

I have a very similar background but I'm not an accountant, I like your trail of thought and putting it down in a rule format makes easy to follow. We'll done ✔️

[@MrTaserface]

you are so good with money knowledge. i am studying undergrad with accounting major too but they don't teach nearly enough of these informations about money at school. i turn to internet to learn these things from experts such as yourself.

[@hnnhml]

Great video nischa, i can’t believe it took your channel longer than a month to blow up - you and your content are so amazing and the 100k will be very well deserved 🙌🏻

[@user-gj1lo1li2x]

Hi Nischa! Happy new year! When you're free could you please make a video on how you prepared for your property investment business. What courses you took and found helpful or other resources one should turn to? Many, many thanks, your videos are sooo helpful! :)

[@Deetheglutton]

Adding also on spending habit, understanding the difference between 'need' and 'want' will make this bad spending habit more manageable. A need is something that is fairly essential and you could die without (sadly these days extended to the internet and mobile phone bills). The rest is almost literally just people wanting to buy something new, including new clothes, new shoes, new phone. Ask yourself a couple of times before buying anything, 'do i really NEED to buy this?'. It will help switch your bad spending habit (or reduce it by a lot) imo.

[@ms6879]

This is exactly where I’m at right now,I’m saving to clear my overdraft which I’m a few weeks away from then I’m going to save another 500£ and then knowing I’ve got that then the other £500 in overdraft I can then wipe off.Ive actually got more money now that I’m single 😉

[@AwakenWealth999]

This video is a goldmine of practical advice! I appreciate how you broke down bad money habits and offered actionable tips to change them

[@dhruvkumar8752]

Hi Nischa, I moved to London last year and have been following more or less whatever you've suggested in terms of side hustles, budgeting, etc. I would totally love a video on tax because side hustles are getting me confused on how to optimise the other income sources. A video on tax would be a blessing. Thanks for the help so far! 🌻

[@noxnox338]

Move out of london if u wanna save lmfao

[@holdontightsam4579]

I've worked full time since I was 18, so for 9 years. I never saved any money because I spent it all on small things like eating out, new pairs of jeans or weekends away. I don't regret those experiences but I did it far too often. I'm earning about 2500gbp per month now after tax and managing to save 70% of that. I must admit that seeing my savings go up gives me a lot more joy than spending it, because I know that one day these savings will convert into amazing things, but also give me the security that I lacked before.

[@Multijoe84]

An interesting video, but I’ve heard most of these tips already. Rich dad poor dad is a good read.

[@greymask1976]

so true Nische you hit the nail , I was so self absorbed in trying to plan to make money but never planned or budgeted , today your video is like Gold. 10% of ones salary not bad , credit debt is a night mare.

[@ChicaneMedia]

I agree with everything you explained except hobbies; for most of us that aspect seems to be the only escape to life we have. Yes we shouldn't let marketing and social media affect our decisions to get into these expensive spending's but lots of people still have hobbies they want to experience and have a deep interest in that they won't change or let go of. I think most of all you need to be able to balance such activates in your life. My personal hobby is cars and it is certainly expensive to maintain. I feel it's still reasonable because I don't have many other interests and I tend to keep my costs to a minimal with events such as, going out with friends, clothes shopping, eating out, vacation, etc.

[@ronaldoleon48]

Agreed dude, what the point of growing out wealth if we can’t at least use some of it for our hobbies? We’re all going to die so if we can afford to live comfortably and afford expensive hobbies why not?

[@bmg2507]

Cars are just marketing objects with their badges, sleek design to create desire and a quick false thrill. Cars are a waste of money if not needed economical and practical. Sorry but your hobby is basically falling for marketing

[@TribalSolider]

I like the part where you talk about paying yourself first by saving about 10 percent of your income I never gave much thought to that because I prioritize paying the bills first and save whatever I have left.

[@TheSweetestCocoa]

The new accountant at my job used to work at a Bank. 2 months before Christmas she decided to start a savings scheme to help us save some money for the holiday. We get paid fortnightly and I was soo worried that the money taken out was going to reduce my quality of life but I didn’t even miss it. By time Christmas came around I had forgotten the money was being taken out then she handed me the envelope of cash. I was soo shocked at how much I was able to save without even thinking about it. I asked her to continue taking out the money for me and I am opening a second savings account to put this money away. 😊

[@RaviBamaniya-cv6df]

51 years old. I have $295,588.25 in my Fidelity retirement account. I cranked my contributions up to 35% with the help pf Norman Vitalii. Fidelity just holds my ETFs/stocks. I made that change earlier this year. I'm hoping to end the rat race by 60 but it's looking more like 63-ish. I want to have $1.5M and bring in about $60k in dividends each year.

[@taylor-worthington]

1. Nurturing a brighter hope for humanity than a rat race 2. Knowing yourself deeply 3. Not sheepishly accepting what you told about the system 4. Feeling the emptiness of fake aspirations 6. Understanding the extent of the evil practices and implications of the hands you are playing into

[@bubhrara]

What is 5?

[@biggreenangryman1904]

Your life requires work to sustain no matter what, there’s no avoiding it so if that’s what you mean by rat race I feel very sorry that you feel so put upon

[@taylor-worthington]

@@bubhrara If I told you, then I'd have to kill you're desire to make money. Ignorance is bliss my dear KZbin acquaintance. Ignorance is bliss. Stay thirsty my friend.

[@taylor-worthington]

@@biggreenangryman1904 Feeling sorry for people can be kind of like a circle jerk. I just happened to have watched an interesting video on the topics in your comment. It's about division of labor and the intrinsic human liberation of working and creating for one's own sake. While it's almost impossible to envision a system that facilitates that in the near future, it can be intriguing to think about how such a system could work - as well as obtaining a truer sense of direction in progress for working people. That's deeper and more serious than my comment actually was.

[@SalsitaDk]

Thank You SO much for this video Nischa!!! Finally someone who explains in a clear, short and direct this whole money thing. I am SO ready to learn. Yes very late in life at 51 but better now than 10 years from now right!? I have always been "afraid" of money. Was taught rich people are not people "like us". I will take out 10% and pay myself already from this month.... strange how that almost feels scary😏. 💞

[@danmccurry3810]

I guess it's never to late, you have a ten year head start on me, I'm 60, and of course someone will tell me the same!

[@matthiasdickson3990]

I’m shots of words I really appreciate you for your understanding because you just said my mind...pls can we be friends pls

[@nbibby]

Wow the volume of grateful comments is amazing, well done. I’m just realising that growing up within a family that ran a farming business taught me a lot of stuff that clearly others missed out on. Kudos to this channel for helping people be better with their money.