ACCOUNTANT EXPLAINS: Money Habits Keeping You Poor

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Most of what we do with our money everyday is unconscious. In this video I share the most common bad money habits and how you can break out of them.
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⌚️Timestamps:
00:00 - Intro
00:28 - Paying Yourself Last
01:53 - Bad Debt
02:31 - Buffer
03:17 - Income & Expenses
03:57 - Spending
04:48 - Saving
05:37 - Taxes
06:56 - Waiting too long to invest
07:59 - Not caring
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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

[@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

[@S_adhon]

first time i see your videos .....

[@nathanthomas8184]

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

[@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.

[@j3anmari3]

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]

@@j3anmari3 the best EVER advise.

[@bc_usa]

@@mj8495 Buy once cry once.

[@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

[@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

[@juaneduardojimenezflores]

Now we just need to see the Blcktken300 price also move in the same direction as these charts. Up. Very Up.

[@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".

[@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

[@jb7797]

@@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?”

[@svenoliver6040]

This beyond amazing. Whoever’s reading this hope you find success.

[@svenoliver6040]

I am fortunate I made productive decisions that changed my life forever through my finance mentor. I'm a single parent living in Bn Italy, bought my second house in April and hoping to retire at 40 next year.

[@svenoliver6040]

To possibIy grow your finance, a mentor is needful to make it a reality. I engage in aIot with the ldeas of my mentor and so far have achieved so much already.

[@svenoliver6040]

sear ch her fuII name beIow, if you care

[@svenoliver6040]

*Rebecca Martin Watson.*

[@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

[@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.

[@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.

[@saudybeauty]

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.

[@theshadesofambience4435]

I love You Nischa 💖💖 Your the best financial teacher! your direct, clear, to the point, and have smart counsel for others to follow. Love your channel and this video was excellent to help me improve my finances. Thank You so much! :)

[@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.

[@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.

[@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??

[@enyapriestley1051]

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

[@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. 👏🏼

[@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

[@avoidingbroke]

Hi Nischa - am really impressed by the clarity and honesty of your channel. I would be interested to understand your trajectory and how many income flows you had at different life stages, income per source and future investing plans. Thanks!

[@sanaalazare]

I realized that the secret to making a million is making better investment.

[@tahirisaid2693]

May I ask which investments are good? I've been looking at a few different ones but want others' opinions as well

[@sanaalazare]

*Jenny Pamogas Canaya,* That's Whom I Work With

[@tahirisaid2693]

is JENNY PAMOGAS CANAYA on youtube? please how do i reach her!?

[@sanaalazare]

No she's not!... KZbin is a public place; i can't drop her information here but You can just put her name on google and you will be directed to her website and drop her your message|

[@lifelikejosie]

Love the confidence boost when my money situation gets greener and greener :') Thanks for making this stuff Nischa!

[@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!

[@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!

[@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.

[@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)

[@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

[@michellemeyer1649]

These tips are really helpful. I’m glad I found your channel because you’re a smart cookie!!!!❤️

[@nanayaabadu6501]

Thank you so much Nischa for this financial advice, I’ve been practicing a few of what you’ve mentioned and I must say it works

[@user-ti3bp3nw6q]

I like the way Nischa produces and as an account with 35 years of experience I believe you can learn some saving ideas from me

[@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.

[@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

[@brain_unlimited]

I wasn't paying myself first, now i do thanks to you 😊 I even told my kid to do the same with the money earned babysitting . Start young!

[@RayaFlora]

Love the quality of your videos and the value you're providing! Thank you very much for your hard work.

[@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.

[@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.

[@willrichards4093]

I appreciate your simple straight forward presentation... Thank You

[@Whackyvg]

Very nicely explained Nischa and well produced too. Loved watching it. Felt good that I don’t have many of the bad habits you mention. Shared with my children as well.

[@RheaJohnmark]

Well I suggest you seek a financial guidance someone who can help you carry out your trades perfectly to avoid loss because the losses in this game could make one depressed

[@RheaJohnmark]

So you could contact to try less

[@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 🙌🏻

[@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.

[@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

[@2010Gam]

Based on my experience with saving, here are my thoughts: -It's all about a mindset. Stop following the trends in fashion, electronics, cars, etc. Just get what is suitable and works for you. Don't buy expensive clothes or brands. Use your phone until it reaches its maximum lifespan of around 4 to 6 years. -Cook at home as much as possible. Plan to eat outside two times per month, for example. -Buy from the wholesale market at the lowest possible price. Get enough quantity to cover almost 20 days of the month. For example, canned foods that you use in cooking. -Don't spend your money to look rich, or you'll end up bankrupt. -Avoid debt as much as possible.

[@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 😂

[@danmccurry3810]

My first time viewing your content, It's so refreshing to hear you speak concisely about the basics of finance. Especially about he priority of paying yourself first. I will have to spend more time looking through your content and share with friends. Keep up the good work!

[@user-qx7td4oe7c]

Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!

[@NancyFranciss]

Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life beause I invested early ahead this time .

[@bryanwilson928]

You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life

[@Horace1993]

Sure. However for each of those who make big gains there are many more who lose out.

[@zmoullan86]

Hi Nischa, great contents on your channel, loving it! I can totally relate to the point you mentioned about having a clear picture of income and expenditure, it really does set the tone for a healthy lifestyle.

[@lissetsanchez5316]

Thank you, Nischa! All these habits are ones we can easily slip into and also ones that can be broken as well. It takes much discipline!

[@SecretSquirrel2023]

thank you for these clear common-sense reminders but to get rich you are right to point out that we never exploit others. We are lucky enough to offer our employees a shared vision that hard work and purpose will deliver for us all .

[@AlexandrosAtassi]

Very good timestamps, easy video to understand and you are explaining that stuff so simple. Keep up the good work and offer your knowledge to the younger people like me that we do not know these basic principles that criminally the school never taught us.

[@SkvalaGaming]

I was expecting a stretched out 40 minute video. But you managed to keep it short, informative and extremely useful. Nice job!

[@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!

[@marylo6988]

Beautifully explained! Thank you so much for sharing and educating on this topic !

[@priyankakathuria4180]

Awesome video.. it’s pretty much to the point and easy to understand 😊 I totally agree that keeping finances on track allows us to enjoy the other things of life in a carefree manner 😊

[@pierredhjcamelin2563]

Absolutely the best straight forward advice. It is easy to forget your way about personal finances, you're advice gives good solid frame for waypoints!

[@bbarr4377]

Yes, please do a video on taxes! Specifically relating to solo entrepreneurship and operating as an entity instead of an individual. Thank you 🙏🏻 love your channel

[@londiwemaphumulo7265]

Simple & practical, thank you Nischa!❤

[@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. 😊

[@nicelmasella7348]

So happy I found your channel…love listening and learning, would love to hear more info on taxation 🙏🏼

[@wellnessjoyandbliss]

Bravo Nischa! I admire your generosity and your insights about abondance mindset and patterns to nurture richness of life 🦋

[@zakkwylde951]

This is extremely helpful. I have been struggling a lot due to old car and moving and getting a new job, but it is a process and I can finally feel in control!

[@RheaJohnmark]

So you could contact to try less !!

[@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

[@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.

[@raulkane849]

Hi Nischa, have recently found your videos to be very helpful, really love the way you present your videos keep Ming it concise and consistent. Whilst watching one of your videos, I heard a mention of potential tax advantages to for self employed individuals to show HMRC as working under a company instead of being a sole proprietor. I would be very grateful if you could perhaps make a video on what are the upsides and downsides are of working as a self employed “Sole Proprietor”versus showing as Working under a company. What portentous tax relief or advantages could be.. On a side note, a video on taxes and legal ways of tax relief would be highly appreciated. Thank you for all your inspirational advice. Kind Regards, Gargi Kane (she/her)

[@RheaJohnmark]

Well I suggest you seek a financial guidance someone who can help you carry out your trades perfectly to avoid loss because the losses in this game could make one depressed

[@RheaJohnmark]

So you could search her on web , contact her and try less

[@mazepa-slavaukrayini932]

Kudos! You are not only astute, but very articulate as well. Truly remarkable how so little common sense exists in today’s society in regards to acquiring money and investing for the future.

[@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.

[@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! :)

[@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.

[@zzupericsify]

Hello Nischa, I've been following the channel for quite a while and I'm enjoying the content and I found it quite valuable. I would like to ask if you can make a video about the transition from a 9 to 5 job to a remote job / financial independence or how to plan this transition to be successful and not be forced to return to the old job, if you have a video on this topic can you point me that way I would gladly watch it. I really watch a lot of videos about remote working and financial independence, and I know one of the things stopping me from making the change is Overthinking and by that I mean I'm too scared that if things don't work out what I will do. Looking forward to your future videos and if you consider this for an idea, it would be much appreciated (there are probably other people in the same situation). Keep up the good work.

[@RheaJohnmark]

I suggest you seek a financial guidance someone who can help you carry out your trades perfectly to avoid loss because the losses in this game could make one depressed

[@RheaJohnmark]

Search advisors name on web to book an appointment

[@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!

[@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]

@@harshadagashea little bit of alcohol has shown positive health benefits. Enjoy responsibly

[@user-ue3fj8mm4d]

love the simplicity with the way you expain things

[@MamboFerido]

Say you are saving 10-20% of your income, can you make a video where that percentage goes? (long term, short term, emergency funds, etc) and how do you break them down. Love this video by the way!

[@user-ij4qo4dj8e]

I'm so happy I've found your channel! The points you've made are informative and helpful. I think it would be a great idea to post a video about reducing tax in detail soon! Love Ava

[@clarisolunga9394]

Q3z

[@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.

[@kedarupadhyaya738]

First time coming across your videos Nischa, loved the summary/ key concepts of these popular money books. Thank you

[@MrDrawvisuals]

Hey Nischa! I've landed on this video searching by the word balance, congratulations to your SEO manager 🎉

[@Furby2118]

Lord I absolutely love this video. Currently getting my series 7 so been really diving into finance and investing. This hit all points so so good, and the taxes part beautiful

[@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 ?

[@TimewarpTV]

Beautiful, intelligent, classy and articulate. Your insight and perspectives are a fresh take and keenly interesting. Thank you!

[@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

[@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.

[@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.

[@dorothykasemiire1087]

thank you so much for this, it has highlighted some bad habits that l need to drop. very informative

[@IanManager]

Great concise video! Love the way you make these topics so bite-sized and understandable

[@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!

[@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?

[@billiondollarbella]

The deeper in go into you vids, the more valuable they become.

[@dharmikayoga]

Here in Zimbabwe even people who are referred to as poor have side hustles whether it’s planting vegetables to sell, buying and reselling airtime, or getting chickens and breeding them for resale or to sell their eggs… or buying clothes from South Africa/China/UK on sale and reselling them in Zimbabwe… people here are so industrious-the motto for any seeming obstacle is “ We’ll make a plan” meaning we will find a way to do it or to get around this.

[@zmiem9556]

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

[@roshi98]

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

[@roshi98]

@thabalancedone I did. A year ago.

[@AZ-bi9wn]

This was a great video! I’m very interested in the video you would bring out about taxes. I’m not exactly sure how to start a business, but I want to in the near future. I’m wondering if there’s some sort of threshold of sales before you need to register yourself as a business. I know that there are some administrative costs to start. When it comes to the legislation as well, I wouldn’t be very knowledgeable. Like filing your own taxes, for example. Would these topics be something you would include in a future video? Thank you for sharing your advice :).

[@davidclaro152]

I read that same book. My life turned around after that. Like you, I took accounting, and made my own balance sheet. I finally realized that the interest I was paying on my credit cards could have been used for a few vacations. In other words, I was paying for someone else’s vacation. My parents told me that I can pay a little at a time to the credit card company.

[@chico1287]

Your videos are greatly helping me to better understand Personal Financial Planning to save and invest for the future. Tax is always the one thing I can never grasp, but I think a lot of it comes down to there being so many tax rules and schemes. I look forward to your video on tax. Thanks Nischa!

[@friedamn]

Thank you so much for your super interesting videos, so grateful to have come across your channel🙏 Would love to hear about taxes, although I wonder, if you are able to apply it too different countries and their tax systems 🤔

[@vasiliskarkalas]

In the era we live it is almost impossible to save 10% of your salary first.

[@rlw4646]

Really nice and easy summary! You mentioned that you may be producing a video on tax - that would be absolutely interesting, so I hope you’d do it.

[@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.

[@RobbieDerrick-yx4eb]

Can you answer in more detail?

[@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?????

[@salsitadk3752]

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

[@erinfletcher3980]

Great videos, this sort of information is totally new to me, yet it's so important, inspiring and empowering to know it all. Thanks :)

[@diyokenkiruka]

Thank you Nischa As an accountant who have also read the rich dad and poop dad but has thrown away all that I learned, your Video has helped me retrace my step Thanks alot

[@RheaJohnmark]

Well I suggest you seek a financial guidance someone who can help you carry out your trades perfectly to avoid loss because the losses in this game could make one depressed

[@RheaJohnmark]

Contact to try less