Do This Every Time You Get Paid. Accountant Payday Routine

[@nischa]

Get the free payday routine tracker (mentioned in the video) here: nischa.me/intentionalspendingtracker

[@JsuisMamadou]

Hello Nischa your Form don't work.I try to Download the tracker and i got this alert :" Sorry, your submission failed. Please try again."

[@nischa]

@@JsuisMamadouhopefully it’s working for you now?

[@Jsmordangames]

Hey Nischa, this still isn’t working?

[@nischa]

Email [e-mail] and we will get the tracker sent over :)

[@adry729]

Tried twice and I never received an email, also checked spam @nischa

[@ianwhitworth3264]

I became debt free in 2023 by learning to live within my means. Now, the money that was paying off debt is going into various savings and investments for the future. Thank you for all your advice, looking forward to the next video!

[@jaspal201]

That's good to hear Ian. Keep up your good work

[@David_Quinn_Photography]

keep up the good work, if you can get past the status life style it's your 1st step to freedom.

[@hawaali2851]

How pay off debt with no extra incoming in .

[@Brian-dh2zz]

I have my 6 month emergency fund, and what I call a miscellaneous fund, this fund covers things like AC unit replacement, new roof, etc without dipping into the emergency fund. It's an emergency fund for the emergency fund. I budget for Christmas gifts, vacations, etc throughout the year and never need to take in debt. I live well below my means, my mortgage is about 10% of my income. Tomorrow i will be leaving for a 10 day cruise that I spent $14k on, not a single cent of it borrowed, all paid in cash. I am normally way too cheap to take a vacation, its been over a decade but I'm finally taking one and decided to splurge.

[@sasheenrodrigo3464]

The backup emergency fund is such a neat concept, I'd definitely pull up an account for that. I hope you had a lovely trip, you seem to deserve it!! :D

[@MJLGEE]

Well Don - enjoy your cruise!

[@Elysa284]

Its sinking fund righ?

[@artoriasoftheabyss1575]

Wouldn't an ac repair be considered an emergency?

[@jordirolink8254]

Smart thinking! Might do that as well, an emergency fund for an emergency fund. I only need 3 months for my emergency fund, so that would be 6 months in total. Might take me a year, but the security it brings will be so satisfying :)

[@BlamBird]

1. Know your reference point 2. Quick solution fund 3. High-interest debt 4. Employer match (if applicable) 5. Emergency fund 6. Personal ROI 7. Invest in tax-free accounts 8. Opportunity costs (e.g., pay off mortgage, student loans, start business, etc)

[@danaj.4609]

I love how you dropped this a few days before payday, so efficient

[@beans953]

Yeah that’s the idea mate

[@Kosykeko]

Same for me too

[@shutupnvibe]

This came in my recommended 2 days before payday. Much appreciated too!

[@Mareewashere]

Literally a day before mines😭

[@bobby8630]

Hi Nischa, I am 40 years old, was homeless 5 years ago before I started to get my life back on track. Since being employed, I was always ashamed to look at my bank balance, the ostrich effect... like you described. Thank you for giving me a system and the courage to face my finances, and to help put this chaos into order.

[@precambrian_rabbit]

Hi, I'm just a random stranger on the internet. I hope you are fine

[@acevocabulary25]

Could you please make a video for teenagers, how should they start their financial planning

[@cristinacerdanb]

Very good idea

[@mukkaar]

Honestly, just get educated. If you get super lucky and somehow get high paying job, maybe financial advice would be relevant. But in thay case you can just apply general financial advice. But really, just get educated and don't take loan if you can avoid it with something like part time job. Overall, personally I think you should just have fun and not worry about this stuff. I mean if you go trough normal higher education route, you are still in your early to mid twenties when you graduate. And while many grifters on internet claim higher education is not necessary, on average, people with good education are *much* in much better situation financially.

[@acevocabulary25]

@@mukkaar working in 9 to 5 job is not productive and you also know it. getting educated is alright. but it depends what type of education you are getting. education system is just a consumption of facts. do you think all the rich people became rich by following the normal script. and even nischa is earning from you tube. she is not following the normal person life

[@mukkaar]

@@acevocabulary25 You should get educated anyway. Most of these people with big businesses were either already well connected/from rich family, or they were in school, did business at side and it flourished so they dropped out. Or one of the more common ways is that you graduate, get experience and then start your own business. So yeah, if you want to become rich, entrepreneur route is what you want to do. But that's even more reason to go to school. Often schools also have a lot of resources for entrepreneur endeavours, and you get connections. Not to mention it's about hedging your bets, even if your business doesn't work out, you still have degree that pays well, and you could even use that higher paying job to support your business.

[@mukkaar]

@@acevocabulary25 Even if we take these very exceptional cases, most if them were in school, but dropped about because their business became lucrative opportunity. Most people that have successful business are graduates, school gives you resources, education and connections. Often schools have very good support structures for entrepreneurs, and access to networking events etc. It also works as both support and safety net for you, as you will have something to fall back on, or maybe you can use your good paying job to support your business till it becomes feasible to focus on it full time. Ultimately, there just isn't a reason to not go to school, especially if you want to become an entrepreneur. It gives you connections, education, degree and resources/help to pursue business. And furthermore most people establish their business after gaining experience in the industry, which means you need degree to get good job. I'm not saying this is absolute but just looking at the overall situation, people that have gone to school have a massive advantage in every way.

[@SettlementAgreementSolicitor]

Thanks for another very helpful video. You don't pass judgement on the fact that many of us are appalling at money management and you instead focus on what we can do to turn things around. Much appreciated.

[@Fuaarrkk]

I break my payday into 3 steps. 1. Savings 2. Bills/debts 3. Leftover Soon as I get paid, I save 1k minimum, I pay my bills and then whatever is left after that is fair game. It is definitely important to figure out how much your living expenses are and that will determine how much you’re able to save safely to ensure you have enough to cover your bills and living until next pay as well as building your savings. I’m able to save a minimum of 1k every payday because I have a very low maintenance lifestyle. Edit: I don’t make a lot of money either. I choose to live under my means and very minimalistic so I can build my savings. Some people don’t understand that you have to make lifestyle sacrifices until you’re in a position where you can live a bit more extravagantly.

[@74_pelicans]

step 1 and 2 is the wrong way around, albeit acheives a similar objective. and that is good for now, but how will you change this with indexation

[@jillmorrison9883]

your advice about paying off interest balances vs the savings made so much sense, I legit paused the video and did just that lol. I can be such a hoarder sometimes that I forget that I'm actually paying more than I am saving.

[@sanjajohnea4825]

Same to me. I cleared a 16% loan running for 5 years within the 1st just because of Nischa's insights.

[@RevealedFilms]

No one ever got rich from saving…invest!

[@sansaechao2023]

Just downloaded the spending tracker and holy crap it's an eye opener where my money going. Im trying to pay off debt(17k) and this will really help me. I never had a budget and didn't know where my money is going at the end of every month. You just got a new subscriber and I will come back to this comment at the end of the year with an update🙏🤞

[@Babybunnyxox]

Keep going!!!🎉

[@PorscheSpeedster-kz6nc]

I appreciate that your content includes the US and US market data. Thanks.

[@jillmorrison9883]

agreed

[@spencerreynolds1488]

Not to mention the US

[@rbags934]

Downloaded your spreadsheet and did it for dec/jan and I couldn’t believe how much of an eye opener it was! I really didn’t know how much I was spending and it’s def made me more accountable for what I’m spending my money on. Also moved credit card to 0% interest to help me clear it more. My focus is to pay off my debt and then start saving for the future ❤

[@nischa]

so happy to hear this!

[@Clary_Sage]

I have just downloaded the tracker and look forward to experiencing the same. Thank you, Nischa.

[@jseels]

Where is this spreadsheet? interested!

[@mikegreenebass]

My wife and I went to a financial planner in Canada and their advice is pretty similar to yours. I do love paying off debt. It’s a very satisfying feeling :)

[@harambeexpress]

Caleb Hammer goes over this stuff nearly every episode he does - but this is an excellent and well explained summary. Especially explaining why "not overpaying" is better and what that means in the easiest to understand manner.

[@Jess-T]

I've done 2 things this month as a result of your videos: - set up a standing order to pay my credit card each week - used the Insights tool on my online banking app to identify that I was spending £150 on unnecessary purchases. Long term, I plan to have a BTL when I remortgage. Thanks!

[@Truthseeker-iz3dj]

Now you just need to make videos like this to get the real money. 😂 Many professionals are making way more on KZbin then they would be doing working for a company.

[@autoclearanceuk7191]

I am planning to use nearly all my pay this month to pay off a credit card that has 7% interest.

[@SEANPOL203]

If my credit cards had 7% interest would be happy , 15-40% is examples of rates I’ve had in past

[@autoclearanceuk7191]

@@SEANPOL203- it is a special offer. Similar to 0% balance transfer promotions.

[@liam.l4189]

Good luck !!!!!!!

[@Mujcanal]

Go for it ! You will feel a lot better with no debt.

[@bubandit06]

Jayzus! 7% would be a dream!

[@Wayne_Nero]

This person speaks the truth. Zeroing out credit cards makes you feel great, and having money in the bank builds confidence. Do it!

[@barbarapatino5458]

OMG, not only do you have the most beautiful eyebrows I've ever seen, you're so, so, so helpful and real. Thanks!

[@spacecowboy1482]

In one of your old videos, you talked about the different businesses you tried and that failed. We would love to hear more about those failed businesses and what you think made you fail

[@nischa]

Hey! I mention some in my video titled 3 Money Laws

[@spacecowboy1482]

@@nischa oh, how did I miss that, I thought I binge watched all your videos 🤦🏿

[@jnixo9900]

at 50 i own my own house and have a couple hundred thousand in cash and a decent retirement fund. From about age 24 i decided my number one goal was own a house. Ive never earned big money and slogged away like 99.9 percent of people. The key was always pay yourself first or make sure you include savings payment in your bills. Treat savings like it is a bill that has to be paid every month like all other bills. Dont live beyond your means. Im not extravagant. I dont buy everything i see but i generally buy something if i need it. Always check your finances.

[@Ludmila-xp6tg]

I cannot imagine completing this project without you *Top phase resolution* . You are amazing. Thank you for being there for me. Not a single effort of yours will go in vain. You will be rewarded for your pain. Your hard work will bring you a lot of gains. Well done. Your achievements speaks itself about your capabilities. Slow and steady makes it to the top! Good job! Jon

[@djjoshski]

As someone who’s financially literate but who’s had to learn to be. It’s so hard for me to spend money on things I want. Pretty much all of that goes to investments / savings. The mindset once you have it’s hard to break it.

[@LearnGermanwithMarzipanfrau]

I understand what you mean. You wanna live, but also don't take any risks.

[@IssaMeZane]

Oh wow, that’s exactly how I feel. I even made a Splurge account to spend on whatever I want and I still feel guilty…it sucks

[@djjoshski]

@@IssaMeZane Yeah ive been investing for 5 plus years i finished uni finance major and now I've realised I've actually been to frugal. I know its been an opportunity cost but the mentality to spend restricts my happiness for even small things like coffee i find hard to pay for, if its someone else i don't mind but myself it's hard. when you come from a place of hardship at a young age you never want to fall back into it, financially I can't but mentally you can and that's the fear.

[@blade643]

@@djjoshskibreak it down mathematically. Give yourself a percentage. Try 5-7% at first. You deserve it. You’ve done an amazing job! Or if you cant bring yourself to doing that yet, have a goal in mind of what you want in your investments. 100K is a great mark as suggested by Charlie Munger

[@Pr_Bh]

​@@djjoshskiCouldn't have put it better.

[@emi62507]

Thanks Nisha. Your 8-step process is a much better process than others I've seen around. And you dropped the video nice and early for us to implement in February.

[@raieven]

These steps make so much sense to me, I've always deprioritized the employer match and literally everyone screamed at me for it. I'm going to follow the rest of your steps these month! Subscribed! 🎊

[@laxel01]

I like how you say it's better to just pay the debt first from the "savings" until it is paid off, mathematically and logically to me that makes the most sense

[@AnnaOllsson]

Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?

[@PennyBergeron-os4ch]

I would avoid the index funds, mutual funds, or specific stocks for the time being. The 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows sign of recovery.

[@FinnBraylon]

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@bartlyAD]

Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?

[@FinnBraylon]

“Rebecca Noblett Roberts” is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

[@bartlyAD]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@johnmccrae1102]

Again compound interest is the key and backed up by a rainy day fund first.

[@ЛизаКосолап]

This channel is the sole exception where I haven't skipped the promo ads. Your finesse in effortlessly integrating promotional content within your videos is genuinely impressive. Sometimes, it takes a moment to recognize that you're endorsing anything; I commend *Pecuniary backdoors* for your adept execution in this aspect!

[@xlauranatalie]

Im a decent budgeter, but your spreadsheet is way simpler than the one i created! Love it ! Thank you

[@godwin_njoroge]

Hey Nischa, just wanted to say thank you. I've been using your spending tracker and it's been really helpful. Thank you for all you're doing

[@archstar21]

I am debt free by using the *Pecuniary backdoors* steps method! It took me two years of hard work and sacrifice, but it was so worth it! Thank you Anthony and Dave !!!

[@ivettesalado6958]

I started working on my credit 2 years ago. I didn't know where to start I had no credit. I started looking up videos and found *Pecuniary backdoors* . I followed what you said and started with an secured credit card for 200.00 and mad sure to keep my utilization under 10% and paid on time every month. I now have 3 unsecured credit cards and a 757 fico score. Thank Danielle for all the information and tips. Now we are in a position to buy home.

[@dilyaabrarova1977]

I stumbled across your video and instantly knew this was made for me. I'm going through the same thing with my business but just knowing that I'm not the only one who's experienced this just pushes me to go harder. Continue to put out informational content and sharing your story, THAT is what separates you from the rest. Much gratitude sir and *Pecuniary backdoors* was so helpful during the process of boosting my credit.

[@nishanishani4118]

Hi Nischa, I've been watching you over the years now, and Must say this is one of the platforms I always follow to have my financial life in order. And would like to request if you can make a video on credit cards, the advantages and disadvantages of using one, how to make the best use of a credit cards and how to manage with it without falling into trap? please consider. ❤

[@SEANPOL203]

Don’t use them at all , they are good for very little

[@VitalBusinessMatters]

@nishanishani4118, i will be dropping a video on that topic this Friday. Make sure to check it out on our channel. Hopefully it answers some or most of your questions about credit cards.

[@DannyHodge95]

Tiny bit of advice from what I've learnt this year: It's often much easier and more lucrative to spend time reducing your costs vs trying to bring in more income. For me, I've been cutting costs by trying to shopping at Aldi (it's less convenient for me, but the cost saving is already ~£50-100 per month vs Morrisons), reducing energy costs by not using the dryer, and cooking more/eating takeout less. An extra ~£200 a month for what probably averages out at an extra 10/20 minutes a day.

[@bigmarc977]

I use this method, you can tailor it how you want to, and the core point is accurate. My only push back is that I would prefer to have 3 months of emergency funds.

[@cjhickspe1399]

I could listen to Nischa all day.

[@JohnP.6775]

What’s so messed up about the world is to have a good credit score to get a mortgage or anything you have to effectively be in debt to have a good credit score, the only thing I owe is my car insurance; I always buy my phones and stuff outright, I don’t have credit cards or anything.

[@X21XXI]

You're literally an account saver, I really need this, thank you so much.

[@ТетянаСосновська-й6ъ]

I just wanted to say thank you for sharing this. Because you're right. The worst thing that you can feel is hopelessness. And I hope that someone who is on the verge of losing hope finds *Pecuniary backdoors* and realizes that as long as you're still alive and breathing, there's a chance, there's HOPE that the future is brighter then the present day.

[@dmitrijluka8975]

40 now, and everything is paid for. Fortunately, I had a *pecuniary backdoors* teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints

[@Edward-zw9ld]

Love your discussions and your common sense. Your beauty is an added attraction for everyone.

[@nf2804]

Your videos are amazing, i just found you now! I started budgeting after covid, i lost my income, ive been in complete shock! Since then im budgeting, calculating my income for a year, month…i know my liabilities bills/credit cards…and im just so glad that without any prior knowledge my checklist has a lot of common points with what you are talking about. Schools should teach how to be mindful about money, we would all have a better future a chance for a better life…im around 10 years late😢

[@mirriammbewe1589]

Thank you for the insight. Actually the cycle begins before payday, we spend and make payments when we get our paycheque, leaving the account on a zero balance. Discipline is the name of the game.

[@TheJHenderson]

I'm amazed there are people out there who don't do this already. Have used excel to organise my finances for my entire working life. My finances would fall apart without my monthly spreadsheet, how people get by without one is beyond me!

[@halwaffles]

As a budding tax accountant (currently in my master’s year), I love this! I actually did a weird version of this to calculate a suggested budget for when I move to my job after graduation where I calculated my estimated taxes to figure out my after tax funds I’d probably have so then u could figure out what money I have to work with for rent, food, savings, etc. It’s so helpful and I’m excited to refine it as I know better what my spending habits are!

[@semolinasemolina8327]

Thank you for doing all of these videos. I am 40, have adhd and I have been so reckless with money! So whilst im about to possibly get some money, I'm very conscious about how I've mismanaged money in the past. I can see myself buying a Dyson air wrap and taking all my friends on holiday to say thanks for your help when I was broke! However, I think a better thank you would be to maybe handle it better!

[@BH-hr9tp]

Thanks for the information. You've opened my eyes to the concept of compound interest.Till now I'd never really knew what it could do . Now instead of a cold baked beans pension I'll at least have hot baked beans and sausages. If I can be disciplined on payday things will be even better.

[@MoriomBegum-qn9mq]

I love how you stopped this a few days before payday , so efficient

[@anjaharitsimba]

Finance and *pecuniary backdo* have been so helpful. I’m 50 and my husband 55 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on FED for our misfortunes. Saving and investing lifestyle in the stock market made it possible for us this early, even till now we earn weekly.

[@bjotronn]

9. If you have money left on the day before payday: Transfer everything to a savings account or pay some of your debt. Credit first, car loan second, house loan third. 10. If your bank has this service: Set up micro savings for your debet/credit card to set aside a small amount everytime you swipe your card. I do this for my debet card and transfer NOK 5,- to a savings account everytime I swipe it.

[@ramonbrown5193]

Absolutely love your content Nischa! I'm a masters student who just got a job offer and I have made a plan to clear my loans and start building my emergency fund!

[@skanshuthakur6008]

The fact that nobody talks about the book whispers of manifestation on borlest speaks volumes about how people are stuck in a trance

[@Despicable_G]

??

[@EdgiB0Do]

I want to heed your warning but I am literally stuck in a trance perpetually on KZbin

[@YasAdele90]

I talk about it 😅

[@Olyfrun]

The fact you talk about it makes me think you are a shill

[@FrancescoMarelli84]

Great video as usual Nischa ! By the way, if all else fails, or if you ever get bored ... please do consider doing something with your voice ... whether its narration of stories, radio work or what not. Seriously your voice is unreal, super super beautiful. If you wanted to, I honestly feel it could be as recognizable as a Morgan Freeman, or a Bruce Buffer, or a David Attenborough... I am not joking. ❤

[@figimah227]

I'm so grateful this video popped up on my recommendations! I'm just beginning my career and already planning out how I want to allocate my funds, even though I haven't even received my first paycheck! This video helped validate my desire to pay off my student loans ASAP. Personal finance should be taught in schools, but it's not, which is infuriating. So seriously thankful that you've put all this into a video!

[@eddiecleaver5376]

Thank you so much Nischa. I’ve subscribed and watched several of your videos, there’s so much to learn! I took your advice regarding putting 10% of my monthly pay aside for savings. Great videos, thank you.

[@AndrianiainaJeanMichelRaobelin]

In this video, I'm so surprised the manner of how she details the way of managing incomes and debts in order to be successfull.

[@MissAnn-xu9oo]

All these techniques Will Work but what is not stated is that making and growing money is also about the company you keep. ALL Company (even Family)...Haters of any kind will not make you Greater they will challenge every step of your Progress and when you start making money you will likely find yourself in their mist. Sometimes surrounded on All Sides. Many people use these methods and Never make it. Exclusion is REAL... Watch who you Work With and Work For, say your Prayers and ask for Guidance (even on who to help and what help to give them, if any). There are times when you are doing the Right Things with the WRONG people...If you are ENGAGE with the wrong people none of this will WORK.

[@romxxii]

My basic rule: keep monthly purchases below my monthly salary. If I want a big ticket purchase, then it has to be obtained by a zero interest installment plan, or I should have already been saving up for it months in advance. Always pay monthly credit card bills _in full,_ and _never_ be late with payments. I learned that from my parents, who kept accumulating debt because they would be months late with payments, almost all the time.

[@Julian-xo7vj]

Very sound and comprehensive advice. I appreciate your enthusiasm and directness.

[@CosmicCreation-ef3ey]

I just watched this video of yours, and it was surprisingly informative! The host really knows their stuff about. I appreciated the detailed breakdown. Definitely worth a watch!

[@vijayshah4880]

Thanks Nischa, for weekly financial updates.

[@abhiban8438]

i hv enjoyed your video earlier on intentional spending tracker too much.. used it and modified as per my requirements. may be you are an accountant but your presentation is very cool.. thanks for being so transparent, humble and confident.. your google sheet is really really very useful though it looks so simple. All good wishes..

[@melusineconteuse2751]

Dear Nisha, I love your talks. Could you make a special video about people having really irregular incomes due to independent work? Like artists who makes shows (like me), this is quite unpredictable, how much will come. I do manage also with side hustle like airbnb renting and giving trainings. Nothing regular :)

[@VitalBusinessMatters]

That could be an interesting video. Good suggestion.

[@anncromarty2590]

I like that you call it an essentials fund. I had been seperating it into fixed and variable costs which made it difficult since some variable expenses like food are essential. I am going to recalculate now and then download the app you linked. Thank you for your help and cogent explanations.

[@Nesdude42]

I am trying to educate myself and be wiser with my money. I really loved how you prioritized things. Made a lot of sense even to a newbie like me.

[@poetarchives]

Could you do some videos on accounting for small businesses please ? I own my own business and its all super confusing and you'd explain it so well

[@Silvio67]

great idea

[@poetarchives]

More specifically, doing your accounting, paying tax, when you have to pay and how to pay for all the taxes and everything after making money

[@VitalBusinessMatters]

@@poetarchivesgreat video it would be for small business owners.

[@VitalBusinessMatters]

Good suggestion especially for small business owners.

[@MoumitaSanyal-kc3uv]

Honestly speaking, I really like your idea. I am going to start working your way. Thanks for sharing the idea.

[@kiboit]

My word! YT just recommended to me on one of the most beautiful people I've ever seen and she's super helpful too. Thank you!

[@elenakraeva1260]

I get such GREAT service every time I go to the *Pecuniary backdoors* and the IRS is SO wonderful to work with. I DEFINITELY want the Government in charge of my Social Credit Score! This couldn't possibly be misused in ANY way! All the data breaches that the VA has had makes me confident that my data would be TOTALLY safe!

[@summer7honey]

SUBSCRIBED!!! I really like your content. It's consistently sound and for me relatable. What really really appealed to me the first time i watched, was that u talked about finding your ikigai.. that spoke to me!

[@I_m_Akaza]

Awesome video and thanks for the free and useful spreadsheet.

[@celestial7990]

Your videos are so informative and important! Thank you so much for your videos. Just subscribed to your channel and plan on coming back to your videos. I’m so excited to start saving, budgeting and paying things off. 😊

[@Polkadots51090]

Omg you know how many times I passed and saved this video to watch. I’m finally here!

[@quattropower34]

I am glad I saw this, as this is sort of the plan that I had but now you have galvanised it for me.

[@tia9706]

Just stumbled across this video on the home page. I've been doing this manually for years. I'm a fan of the waterfall method, my few cards are all around the same interest rate, and I use a spreadsheet for that; I don't know why I didn't think to do the same for income and itemize bills on one! 🤦🏾‍♀ That said, seeing this was well-timed for me. Thank you for making this video!

[@rodcampbell4784]

Your amazing. I'm learning so much. 2024 is gonna be my year. Thank you Nischa ❤

[@mikesway4522]

Ngl, this video has been popping on my feed to months and I’ve slacked! Finally looked at it and glad I did!

[@vayoha02]

That's me, I'm the one who doesn't want to look at my bank account. I get so anxious and overwhelmed when I THINK about all the debt I have. I can say I finished paying off my student loans yesterday😁. I still have a credit card, car, and mortgage. That's not including the many insurances that are needed to live in America!😵‍💫

[@paulwaters6384]

Amazing video series, Nischa. I'm a complete bore and have full double entry for my own finances going back about 15 years. If you've ever felt like a sense of completeness on your finances is missing try a GCSE in accounting. Life and the universe will start to make sense...

[@Dogeyess]

Best financial youtuber 👏🏻

[@topsoundmandan]

Couldn’t have asked for better timing, payday in 20 minutes.

[@ld5714]

I absolutely love listening to you Nischa! Larry, Central Valley, Ca USA

[@Avividlife]

Yall have money to invest? 😅😂

[@heythere3780]

If you don't sit on your butt after work and on weekends, yes, we do invest. Get your paperwork set up and start a service. Work instead of sit and you'll be good. If not, it's ok, that's less competition for me.

[@Avividlife]

@@heythere3780 i work 3 jobs 7 days a week… & i invest in my community. Dont assume everyone is lazy

[@Avividlife]

When you obviously dont see people trying to survive when groceries, rent, and everything goes up and wages stay the same…

[@Slynell1]

​@@AvividlifeMAKE. MORE. MONEY!

[@happylittletrees8130]

@@Avividlife Have you seen Ramsey’s baby steps? That may be helpful for you

[@mimi-pluto]

Agree with all that you're saying except for 'paying off your debts using your savings'. If anyone has read Rich Dad Poor Dad, you will know that you need to hold onto your cash for a rainy day, It's all good using my savings to pay off parts of my mortgage, but if I loose my job, I won't have any liquidity left to support me until I find a new source of income. So I wouldn't agree that you need to pay off debt. Rather one should have enough 'cash in the bank' which is more than the debt you owe, such that you have the peace of mind that you can pay it off, but you're choosing not to.

[@capitalb5889]

She does recommend a rainy day fund of 3 to 6 months of expenditure.

[@mjmonkey8618]

The financial Snowball is the best and quickest way to pay off your debt, unfortunately the avalanche method causes more problems.

[@MagicLights555]

Here's my question: I just paid off my private student loans (at 12% interest rate). I used my savings to pay six months at once to stop that interest from continuing to accrue. Now I'm rebuilding my savings account because it took a big hit (I still have almost six months of living expenses in it, so it's fine). However, I owe $125,000 in federal student loans, and the minimum payment is like being a hamster on a wheel. Because of interests (at 6.65%), what I pay today will be added right back to next month's payment. The only way to avoid that is to pay $2,400 a month FOR TEN YEARS, which is insane, and would prevent me from saving adequately for retirement and from keeping a sinking fund for home ownership maintenance expenses. I live in the US (clearly, per the student loan balance).The government will never take care of me, so I'd rather save for retirement; but you're saying that there's no point in planning for my financial future if my present finances aren't in order. What would you do in this situation?

[@randomlybrian]

Hi MagicLights, I would recommend following the same steps that Nischa outlined in her video. This is leaning towards steps 7 and 8 in my opinion, but if I were in your shoes I think the 6.65% interest rate is just low enough that I wouldn't burn myself out trying to pay it off sooner. I would instead find ways to invest in myself and either start a side hustle, upskill myself to argue for a pay increase or promotion, or look for a higher paying job. That's just my perspective, and there are definitely others ways to go about a situation like yours. I wish you well!

[@MagicLights555]

@@randomlybrian, hi! Thank you for your response. Yeah, I have a roth IRA too, but honestly, at this point, it'll have to be all about looking for a higher paying job. I did a side hustle for a while as a copywriter, and it did bring in decent income (for a side gig), but after a year of doing it, I felt so burned out from doing that on Saturdays, then errands on Sundays, then my regular full-time job on weekdays. I knew it was unsustainable going in, but I did it for as long as I could before I wanted my weekends back.

[@mrnmt1122]

I just listen the flow of language comes from u amazing 😊

[@annamira3342]

Hello Nischa and thank you for the very helpful video. I am a Polish woman living in France. I have three debts and two credits to pay. I will pay one credit and two debts in 14 months and one debt in 18 months. The last credit will be paid with half of that I will have after my payment and in 2 years I hope to be free of debt and credits. It'so liberating to have a debd or credit paid. 🙂

[@closeredge5198]

Alot of these folks lack sparring discipline...surprisingly the larger fighters were the most respectful

[@greenlantern1986]

It has never made sense to me why you would wait on the Employer Match. It's a 100% gain!

[@YasmynTVx]

Tbh, I found your channel in December and you literally helped me identify £300 in interest which I was at risk of incurring this month 😊 managed to moved my money around to make sure I have zero interest debt going at the moment 🙏🏾 thank you !!

[@codylujan]

I just paid off my credit card debt 30 seconds ago of about 4 years just because of the way you explained it. I'm actually decently financially sound now, just sold my car and canceled by insurance and my job seems stable for now. No sense in me just having the money sitting in my account doing nothing when I have a 17% interest loan 😭

[@beckywiththefrizzyhair]

This video should be mandatory viewing for all humans on earth

[@Shannonslittlebubble]

Absolutely love your videos. You give such great advice that I actually understand. Thank you for your time on all your videos.

[@truthseeker8524]

Hi Nischa. You may have covered this in another video, but would be interested in knowing what percentage (without revealing the money) of your income you make from each of your streams to see how feasible it might be leaving a high paying job and then replacing with multiple streams.

[@mishutz]

Hi, Any tips in dipping your toes in passive income? You're really great at giving advice

[@christophergrantham4733]

Great video, I really enjoy your presentation style and how accessible you make the information you present. Here in Australia, low-interest credit cards are rare and most issuers market high interest rates credit products to consumers with shiny extras like reward points, travel insurance, etc. Most of these come with 45-60 day no-interest periods and then afterward a high interest rate of 18-24% kicks in. I would really like to see more educational content on the risks of growing debt and how people might benefit from rethinking these kinds of products and how the benefits often don’t justify the risks and associated costs. Perhaps some content on restructuring debt could benefit this audience too, I am curious about credit transfers? I also hear many people describe their approach of leveraging the credit card to maximise their points by putting money off their day to day loving expenses on the credit card V and then paying it off before the interest-free window closes but this also sounds risky to me as a lot of credit card offers seem to be higher amounts than most people’s monthly income…

[@MsJsmith99]

It's called managing risk. It is risky if you don't have the funds to cover the payments but I assume people are sensible enough to have the funds to pay it off before the interest-free period ends. If not, they need a course on managing their finances.

[@VitalBusinessMatters]

Credit cards come with their own drawbacks. Undoubtedly Credit cards offer convenience and valuable perks. However, they also carry potential risks and drawbacks that need to be carefully managed.

[@dealman3312]

Great video and channel. Also keep in mind if you have a large mortgage loan with a low interest rate. It still can make sense to plow that principal down fast because the balance is so high and the rates are not predictable. Then you’ll be financially free. There is something intangible to be mortgage free, it’s a feeling you can’t describe.

[@randomlybrian]

Completely agree, I like how Nischa pointed out the difference between what the math says is best and the psychological aspect. I work with many people that prefer to pay down their mortgage as soon as possible. It really is the ultimate feeling of accomplishment and freedom.