Day 11 - 12 days of Christmas | Expenses you NEED vs. Expenses you WANT

[@joekagumba4537]

I once heard advice on implementing the 30-day rule, which involves waiting 30 days before making a purchase to determine if it is a true need or just a fleeting desire. This can give you time to think about the purchase and consider whether it is worth the cost. Asking myself the following questions also helps: -Does this purchase align with my values and long-term goals? -Can I afford this purchase without going into debt or sacrificing other financial priorities? Great video Ryan! Keep it up.

[@ryanbankscpa]

That's very good advice! I will definitely use this point in future videos. It's a great way of knowing if you have the require cash (sometime you need to wait for a pay cheque to come in) and it makes you second guess yourself before pulling that trigger on that big purchase.

[@AsherSkylark]

Simple concept that my parents taught me when i was a kid and it helped me realize it as i grew older.

[@ryanbankscpa]

Great to hear! A lot of kids don't learn these things from school or by their parents which is a reason why I started the channel. You're fortunate that your parents taught you financial skills.

[@dhamayanthirajaram5566]

Needs and wants 👌

[@ryanbankscpa]

Exactly, if you know the difference, it will make a big difference in your personal finances!

[@quarantinestore4601]

Merry Christmas ☃️🎄

[@ryanbankscpa]

Merry Christmas!

[@rjganesh4505]

Christmas Eve🎉🎉

[@ryanbankscpa]

Merry Christmas RJ!