Once You Get £1000 UPGRADE These 5 Things IMMEDIATELY

[@hanzysjourney8436]

I think i will use that £1,000 to get me closer to my first £10K savings to cover my 3 -6 months Expenses. Also this year i became consumer debt free took me about 18 months to pay off £15,460 on a single income under £25k. But i made it!!! I'm still building my financial foundation to create my wealthy life. Student debt is another challenge but at the moment i need to increase my income for it to truly affect me. Thanks Ken and Mary for your wisdom. ❤

[@TheHumblePenny]

£15k paid off?? 👏🏾👏🏾👏🏾👏🏾

[@ATINUKE67]

​@@TheHumblePenny❤

[@ernestineblackie369]

Well done for repaying debt and onto doing emergency savings.

[@ellea2541]

Congratulations for paying off your debt! You're a great testament to the fact that it's doable! 🥂

[@MrRoyck10]

Key point: Upgrade your health! Wealth is nothing without health. Thanks for sharing.

[@TheHumblePenny]

💯

[@darkangel686868]

You’re right, health is wealth! Finally joined the gym this week, and just in the process of writing a meal/snack plan to overcome my sugar addiction. No more grazing on unhealthy snacks. I’ve gotta be intentional with my eating. Gotta keep the heart disease/diabetes at bay.

[@TheHumblePenny]

Keep going 💪🏾

[@TheHumblePenny]

What would you upgrade with your next £1000? Comment below :)

[@kapzvara5732]

Thanks for this Ken. Some great advice so one of the things I am upgrading is I am skilling up in IT as I want to get into Cyber Security. There are courses out there that are charging around £8000 or more. I have found online courses where I am paying £12 a month to do the course and then just watch KZbin videos on how to get into Cyber Security. Skill up for sure but I think be careful not to spend £1000s and £1000s on courses when you can find a better way to get in :)

[@efremsolomon6291]

Hi, I am also think to upgrade my IT skills. Can you please let me know the online course for cyber ? Thank you

[@Dougie8]

Thank you for another fun and interesting video HP. This one really resonated with me as I am currently reading How To Die with Zero (which I believe was a recommendation from your reading list). The chapter I recently read discusses the importance of investing in your health. After many years of not exercising it has inspired me to make my health a priority and increase my spending in this area whilst reducing in another area. I have started regularly using the online yoga subscription I have been paying for the past couple of years and barely used. I am also looking to purchase a beginners dumbbell set and will save for an exercise bike. I’ve also been slowly changing my behaviour around food. Baby steps. The home gym looks fantastic!

[@d26s10]

Don’t underestimate steps for cardio. Especially within an hour of eating a meal, three walks or steps in the spot after eating can easily get you 9k steps per day and it’s free. No exercise bike needed. Also a simple carrier bag/rucksack filled with any weighty household items is fab for resistance. Fill up with water bottles, heavy books, tins of food and you can easily get yourself a decent 5-10kg weight for squats, lunges, overhead presses, back rows, glute bridges, RDLs.

[@carridg]

Join a running club and purchase some basic running gear. It doesn't matter if you're not much of a runner. The friendships and connections you'll make will pay dividends and will get a bit healthier too.

[@TheHumblePenny]

I really like this idea 👍🏾

[@markwhittaker6866]

Excellent suggestion.

[@MJamilHoque]

Another humble subsrciber. Awesome content!

[@TheHumblePenny]

👊🏾👊🏾

[@beltingtokra]

Agreed on everything, I'm on SLC plan 1 and id say it's my most expensive debt by interest, but my mortgage is fixed for another 7 years. I just pay what SLC ask for and overpay my mortgage a bit, and then am saving the rest. I do need to look at a lifetime ISA though

[@beverleymeya987]

I also think if we spend our lives while we are young over paying in debt like student loans we are low-key minimising what we can enjoy while we are young. A lot of people we read books from or looked for financial freedom hardly had student loans or overpriced mortgages- so we shouldn’t overcompensate for things that’s outside of our control

[@TheHumblePenny]

Balance is important and fun is a necessity 💯

[@downeyjr4423]

Love this. Also, great to see another fellow diary of a ceo fan😊

[@TheHumblePenny]

😊🙏🏾🙏🏾

[@travelwell6049]

A lifetime of being frugal and having good habits taught to me as a child means I don’t buy pastries (for example!) but always pack my own breakfast/lunch. I went through university with loads of money myself and friends never understanding why I was always fine for money. I didn’t get a loan until the third year, nor went into my overdraft. Paid for everything myself, no bank of Mum and Dad, worked 10 hours a week. Never wasted money.

[@abdulwahabfakunle6513]

Wholesome. A video on recommended investment platforms would be appreciated.

[@TheHumblePenny]

Thanks. Watch this kzbin.info/www/bejne/e3Wtimydn5KUbdE

[@chrishart8548]

How many pastries makes up that £3600 and they are a lot less than that in greggs and also you get free ones with the loyalty scheme.

[@Squirrel10101]

This channel has helped me a lot. Can’t thank you guys enough as a fellow Nigerian who just finished Uni. Can you give some examples of what those “liabilities” are, that the middle class mindset people invest their income in?

[@mrmeldrew693]

Posh cars on PCP at £4-500 per month.

[@MsJsmith99]

I would invest in a skill or skills that would help to keep me active in retirement (early) and keep down costs - carpentry, home maintenance and electrical training courses are great and doesn't have to cost a lot but could save £s in the long run.

[@Ketchup38]

What an amazing idea

[@downeyjr4423]

Love it

[@olliepowell6011]

Hi Ken. I have an emergency and an opportunity fund. This is outside of all other financial goals such as paying off the mortgage quicker. I work on having 6 K in both and have recently used 5 K of my 6 K opportunity fund to invest in shares in an ethical business that really excited me. So if I had £1000 right now it would be going back into topping up my opportunity fund. In other times I would be considering courses in several areas that are interesting me at the moment.

[@sankawijayarathne3543]

Oh wow, that's really interesting, never thought about having an opportunity fund. Thanks for sharing that mate!

[@annamuja1831]

Thank you for a great video Ken.

[@TheHumblePenny]

You're welcome 😊

[@ezinneerhirhieneeukaogo1439]

I thought of this 2 days ago and actually wrote down what I would do with it in my " dreams journal" On the sad note, I realised I won't be able to spend more than 20% of even 4k on " enjoyment" or keeping up with the Jones. I'd still use it to do 'ADULT' things 😊

[@beverleymeya987]

Unfortunately I’m a risk taker and would rather invest that £1000 in a business that could eventually multiply that money. I also don’t see student finance debt as bad debt because there is so no/limited risk bailiffs with confiscate my property or assets. I also think I can do better with emergency savings but omo, everyday in 2023 is an emergency 😂

[@TheHumblePenny]

hahaha! I hear you. A business for sure is a good idea.

[@Xxx-y9d]

Student debt in the UK now comes with huger interest rate. Things are changing for the worst in regards to student debt.

[@beverleymeya987]

@@Xxx-y9d huge interest doesn’t change the fact many people won’t pay it off and bailiffs won’t exactly come to you if you don’t pay it. There are worst debts that can take your assets, but student loan doesn’t do that.

[@Xxx-y9d]

@@beverleymeya987 They still deduct it from your salary though!

[@phildavis1825]

Where would you invest 10k, where it can be accessed easily in an emergency?

[@maatmagufuli3853]

Hi Now that you are not in the corporate world. Would you invest in the government pension, the SIPP or the ISA?

[@TheHumblePenny]

SIPP and ISA

[@maatmagufuli3853]

@@TheHumblePenny Much thanks. That's what I do. I am with vanguard with my SIPP amd ISA. I still get the 20% on everything I put in the SIPP from the government. Good work you are doing.

[@juliusakhetuamhen600]

Please what is SIPP?

[@maatmagufuli3853]

@@juliusakhetuamhen600 self invested personal pension that you can withdraw an income at age 55 in the UK

[@howardbattersby5672]

In New Zealand, Australia and South Africa (all the countries I've lived in) the most common type of mortgage is what's known as an offset type mortgage. There is no interest rate penalty for having this type of mortgage. These types of mortgages allow you to use any spare cash, even if you have it for a day, to reduce your interest. Are such mortgages available in the UK?

[@ellea2541]

Yes, they are! I haven't bought a home, but I was considering it a few years back, and offset mortgages were what I was drawn to. To me, it just makes the most sense!

[@diamonds972]

Hi, When do you think banks in England will start offering more attractive interest rates on savings accounts?

[@squibys2262]

They are right now to a better degree than the last ten years. Alot of them are increasing rates Up to twice a month trying to keep customers and stop deposit flight.

[@Kim-m2z]

Student loan is so tricky. It affects affordability when buying a house but then the payment is only taken off until one reached the minimum salary threshold! So in my case, I’ll never reach that threshold plus I won’t be able to afford to buy a house 😞 SAD LIFE

[@Njpro]

Your situation is not permanent

[@TheHumblePenny]

We hear you. This expectation will change if you shift your mindset. Everything starts there. If you want to earn £50k or £100k eventually, although it will take time and a shift in who in you are and what you do, you absolutely can! Don't settle.

[@smann7236]

You pay very little each month... example £33k salary you pay student loan around £80 each month...

[@Antonio-hb8rd]

One thing I find crazy is how many people encourage you to have a middle class mindset towards money. If I got 1k tomorrow a lot of people would encourage me to spend it.

[@TheHumblePenny]

💯

[@jodiehall4191]

Hi Ken, can you drop me a reply with some money book recommendations please? Thanks!

[@Andy-si1pl]

I need a mentor

[@ianwhittaker3041]

Pay down the mortgage

[@TheHumblePenny]

Good move!

[@MickyOTW]

the home gym idea vs a cheap gym membership (£20 / month) covers a lot of equipment and potential maintenance though

[@joannebarlow3900]

Also outgrowing equipment, especially for strength training

[@TheHumblePenny]

It depends on your set up. Maintenance of anything you own will always be an issue. It goes back to the ownership vs rent debate. Do what you think is best for you

[@Magneticvortex-kk4gb]

​@@TheHumblePenny but you already owned the room, you weren't renting it prior to gym setup. A home gym is convenience and privacy. Perhaps the right buyer will pay more for it when sold.