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@peoplevsradio317 Жыл бұрын
Terrible first sentence. Was gonna follow but can't now. Speaking negativity into existence with your opening statement is crazy.
@dwini002 жыл бұрын
My dad always told me, “Never look for a business to start”, like a restaurant or a clothing company. He said, “Look for a problem that people have, and if you can solve that problem, you may have the right business”. Edit: thanks for the likes! I keep showing my dad and it makes him really happy ❤️
@yaofangzhu87982 жыл бұрын
Your dad is a wise man
@dwini002 жыл бұрын
@@yaofangzhu8798 Indeed he is!
@KaushikBala3332 жыл бұрын
yes there is always problems that can be solved. and most of times you have to approach others for help, cannot make it yourself. so at the end it is people skills that is going to make you successful.
@dwini002 жыл бұрын
@@KaushikBala333 agreed :)
@staycoolwithrob2 жыл бұрын
appliance and hvac repair baby
@pandamilkshake2 жыл бұрын
I grew up in a very wealthy household but my mother (who grew up poor) never...NEVER gave me more than 10 bucks each week as an allowance. She said that "If you can find a way to have a good time with 10€, you will not ever need extra". Back then I was kinda pissed that we had money but didn't spend it but now I realise it was all about the life lessons that taught me and I cant be more grateful.
@thomasr10512 жыл бұрын
Wow that's big.
@Yukosan132 жыл бұрын
LoL, I wish my parents had started with 10.. in middle school I started with only 2 dollars a week.. (this was the 2000's so that didn't buy much)Took me weeks to save up enough for a cd or a book.. and when I got lunch money (another 2 bucks..) I'd skip eating and just pocket the money.. (my friends started with 20 and in highschool got moved up to 100..) so by freshman yr I negotiate a raise cuz 2 dollar allowance wasn't gonna cut it for highschool.. and it worked but I had to keep really good grades or I lost it very quickly Basically learned to never settle for less if I think I'm worth more
@thomasr10512 жыл бұрын
@@Yukosan13 they were well off or having a hard time?
@GirlDo32 жыл бұрын
You were pissed😂 Most people don't get allowances at all lol
@pandamilkshake2 жыл бұрын
@@GirlDo3 When you're a kid that grew up living in a chalet and who's parents had hundreds of thousands in the bank, yeah...you tend to become a brat that knows nothing about life and would not value money whatsoever so yeah, I thought my mom was being selfish by keeping all the money to herself but I could not be more wrong...now I live with my girlfriend, working as a delivery boy and my mom gives me 400 bucks a month as help with "adult life". She wants me to become successful on my own and I have learnt so many valuable life lessons thanks to her that I would not have learnt any other way.
@KoiAcademy3 жыл бұрын
Our refugee parents are the same way, our mom even keeps our oversized shirts and wears them after we’ve grown out of them
@VincentChan3 жыл бұрын
Thanks for sharing mike and Matty :)
@nnyv00403 жыл бұрын
lmao same!
@aai3433 жыл бұрын
My parents are the same only thing we cant agree on is cars. There is no need to buy a new car when a car couple of years older does the exact same thing and has the same tech. The amount of money that I hear college students spending on cars especially in this crazy market makes me sad inside. Honda/Toyota is still king.
@bettinak.43 жыл бұрын
And after the shirts have holes you can use them to clean the house etc. Most people are still like this. :)
@summonedfox88503 жыл бұрын
@@aai343 better to put some of that money back into the car to make sure it lasts. For a lot less than a new one you could basically have a new car.
@JC-bt2tb2 жыл бұрын
Instead of saying "I can't afford it" I tell myself, "that's a waste." Just ran into the channel today, despite other channels probably having the same info, this channel is full of honesty, I'll take any day of the week.
@VincentChan2 жыл бұрын
welcome to the family james!
@jenniferh1892 жыл бұрын
Exactly. Instead of "I can't afford it" I often find myself thinking "that really isn't going to bring me all that much happiness."
@Sabretooth-gz7pp2 жыл бұрын
I say, can I survived without it 🤔. Do I really need it .
@avapilsen2 жыл бұрын
WOW. Thank you for this as it can be applied to anything! I will screenshot this,
@minismalls30963 жыл бұрын
with immigrant parents, we didn't even feel the recession. we were already living that way haha. we've always lived below our means, and that's why we're thriving now. I will keep this in mind for the rest of my life.
@conchobar2 жыл бұрын
Living below your means will keep you out of financial ruin, but it won't make you rich.
@admiralackbar46522 жыл бұрын
Same here man, it's just another Tuesday.
@Eirocina2 жыл бұрын
@@conchobar i alway live below my means, i know how to manage my money and work 2 jobs 1 job 100% full in invesment, 1 job 30% for billing 10% for IRA, 30% saving 30% spending. currently my dividend invesment enough to cover my entire year expense. so the job 1 which i contribute 100% is putting into grown ETF investment and mutal fund.
@minismalls30962 жыл бұрын
@@conchobar not trying to be rich, but it's these types of disciplines that allow you to keep more of what you earn.
@writerforlifeify2 жыл бұрын
My frugal immigrant parents fully paid off the mortgage on their house in exactly 5 years, 6 months, minus 2 days....in the '80s. Sure, detached homes were much cheaper back then but their annual incomes were also lower so that's still an accomplishment in my opinion.
@Alexis_Marcelo3 жыл бұрын
“Build your own dreams, or someone else will hire you to build theirs.”
@VincentChan3 жыл бұрын
exactly alexis!
@robcanad3 жыл бұрын
Nothing wrong with being an employee, you can achieve your dreams that way with much less risk
@wnisewond593 жыл бұрын
If everyone built their own dreams, there would be no one to help them do it.
@robcanad3 жыл бұрын
@@wnisewond59 I don't need anyone's help to build my own dreams, I can do it on my own😁
@Beantastrophe3 жыл бұрын
@@wnisewond59 That would be a reason to have AI
@e_velog3 жыл бұрын
When I was a kid, I remember I would go on road trips with my dad, and whenever we'd visit a location, if I wanted a souvenir that was just a cheap trinket, my dad would just say "no". Never understood it because they were super cheap and we were never poor. But now, I kinda do. Instead of buying that cheap thing I would forget about in a month, he would pay for us to go experience new things, and now that I'm an adult, I'm so thankful for it because first, I still remember every single one of these experiences, but I'm even more thankful that he's taught me to not waste my money on these little useless things and to instead save it and buy a course, or an experience that will bring me much more value in the long run.
@VincentChan3 жыл бұрын
thank you so much for sharing that evelog :) that's a great point in seeking experiences. that's kind of the only thing I'm fine with "splurging" my money on to this day
@jeeen83 жыл бұрын
In my opinion, a cheap trinklet here and there isn't going to hurt your bank account. Especially if it's a token reminder of those so suppposedly valuable experiences you spent so money on. That reminds me exactly of the avocado on toast stereotype from here in Australia. Not buying a few trinkets here and there certainly isn't going to add up to the value of a major experience or business course, assuming you don't go on road trips every week. And even then, that's still nothing in comparison to the price of the experience itself, maybe 1/50th or 100th. I don't like the idea that budgeting has to be so black and white. You're either all in and only value experiences over material possessions or nothing. It can be a balance. Sometimes material posessions and experiences are interconnected and can remind you of those memories. Don't be so caught up counting every penny that you forget to live your life.
@tinkle25493 жыл бұрын
That’s a good lesson your dad taught you but parents should start explaining why and not just say “no “
@TheNacional953 жыл бұрын
@@jeeen8 I agree, it is kind of dumb to cheap out on a 5$ trinket that will be used as a memorial. It is not even a lesson, it is just how to be a cheap ass.
@TocoaPuffs3 жыл бұрын
Yea, reading your comment made me realize something. I came from one of the more wealthy families in my town, but all of us dressed like we were the poorest. We didn't go out to eat more than 10 times a year. These were choices that my parents made so that we could have big trips since we had a big family, they got expensive. New clothes every year add up. Weekly restaurant trips add up.
@VarsVerum2 жыл бұрын
"I can't afford it" to "How can I afford it" sounds really familiar. I think I heard that from Robert Kiyosaki in one of those motivational videos lol
@lovemejames2 жыл бұрын
RDPD
@acterna2 жыл бұрын
Hi vars !!!!
@Invisibletoday2 жыл бұрын
It is ☺️
@seasonedtech45462 жыл бұрын
Also about rat race
@QuangGoodman2 жыл бұрын
That is also a main idea in his book too
@XieronDraxin2 жыл бұрын
So I DID learn about personal finance in school. We even learned about the stock market and how to trade on it effectively. All because I went to an elite private high school in NC that I got a scholarship to. This high school, that without my scholarship would have cost more than my college, had almost all wealthy students and THEY got to learn how to manage the money that would one day be theirs. All Senior Students were required to take this personal finance and other general life skills class.
@paolaanimator2 жыл бұрын
Dang I would've loved to learn this in high school. I learned about finance when I got to college. Finances are very important and should be taught to everyone.
@BenDurham2 жыл бұрын
HOLY. This might be the most insightful KZbin comment that I've ever read. My mind's blown. Never thought of private vs. public schools in that way 🤯
@BenDurham2 жыл бұрын
@@veronicajata3121 that's awesome to hear! You've got time on your side - use it wisely! :)
@abderianagelast78682 жыл бұрын
Dang, I wish my high school had a mandatory finance class. I'm pretty sure there was an elective for it at some point, but I chose either theater or computer programming over it. I wouldn't necessarily say it was a mistake, but if the finance elective had been offered for more than a single trimester during my entire stay at the high school I would have had more opportunities to take it.
@branpod2 жыл бұрын
My public high school offers 6 different business/finance programs, including a personal finance course. Not all schools neglect it. You're only required to take 1 (most students pick personal finance), but plenty of people take upwards of 4
@blsia2 жыл бұрын
I'm working as a janitor, sweeping floors in a grocery store. By everyone else's definition I should be struggling to get by but I'm completely self-sufficient, spend only half my paycheck and have enough money saved up so if I lost my job I could survive for over a year and this is why I don't really trust when people claim they can't because of the system. My wages could be cut by 50% and I'd still be perfectly fine plus my job is stressless and requires no skill I just learned from my parents how to manage my money properly, unfortunately that seems to never happen
@thatsamazing85322 жыл бұрын
Hey man invest a little money each week and I’m sure it will help you even more maybe like 35$ a week
@youngatnaruto2 жыл бұрын
Are you also Investing?
@thatsamazing85322 жыл бұрын
@@youngatnaruto ofc a little when I can in stocks and crypto
@youngatnaruto2 жыл бұрын
@@thatsamazing8532 are u in Shiba and saitama I nu?
@lamborghini2312 жыл бұрын
Not taking advice from a janitor
@michaelavillanueva2032 жыл бұрын
Changing my mindset from “I can’t afford it” to “How can I afford it?” and this whole video in general has changed my life!! Thank you Vincent!
@highsol2223 жыл бұрын
These days I've been feeling more scared of re-joining the workforce than anything else in my entire life. Its cheesy as fudge but I HAVE to say it "9-5 just isn't for me" lol. But its the truth! I know theres an alternative and I'm determined to find it! Currently I'm working on eradicating all my limiting beliefs involving wealth. I want to build something great working for myself and find my calling. I know it is possible.
@VincentChan3 жыл бұрын
you got this!! I believe in you
@highsol2223 жыл бұрын
@@VincentChan Thank you :')
@foufounazer41813 жыл бұрын
Make a list of your talents or skills and try to create soemthing with them. Good luck on your journey though !
@craigman72623 жыл бұрын
at least get a part time job. You don't want to accrue debt.
@highsol2223 жыл бұрын
@@foufounazer4181 thank you
@tietosanakirja2 жыл бұрын
I learned about personal finance and entrepreneurship in three courses. - The curriculum included a lession about buying vs renting and loans. - I also took an extracurricular course about investing. During the course we actually invested real money. - Finally another extracurricular cource was about entrepreneurship. On that cource the class founded a company and ran a business for a year. I took that cource twice. The last two cources were specific to my school. The first cource was nation wide. I'm from Finland 🇫🇮
@cottonfluff13172 жыл бұрын
Finland sounds beyond ideal. You're very lucky :)
@DemetriPanici3 жыл бұрын
*"It is not how much we have, but how much we enjoy, that makes happiness." Charles Spurgeon*
@littleangel5233 жыл бұрын
True but unfortunately this is also the mantra people use when they hit the glass ceiling.
@beyerboutique32953 жыл бұрын
its true but some things we enjoy are tough to get
@CurrentlyCold2 жыл бұрын
Great words from a man of God!
@niicopanda2 жыл бұрын
Epic. Thank God for Spurgeon.
@goseeaboutagirl2 жыл бұрын
Praise God!
@KatsC1002 жыл бұрын
“Having the right mindset is as important as taking action” this is so true. It’s very easy to buy a course or a programme to help you elevate yet, you actually have to stay committed to the course to see the results through and put the work in.
@functionallycool2 жыл бұрын
One of the things I do with my kids instead of saying we don’t have money for this, I say “we need to put this in the budget.” We have a budget board that we put things on that we want, then we take something, put it in the monthly budget, and then we buy it.
@JacobKustra3 жыл бұрын
You’re completely right, especially now with the expectations set by these “gurus” that if you don’t make money fast you’re a failure. So many people give up too early now…
@jellybellyfun32883 жыл бұрын
The only folks raking in the mula are those coaches.
@VincentChan3 жыл бұрын
Exactly! financial freedom and wealth is a long term play.
@JacobKustra3 жыл бұрын
@@VincentChan I completely agree!
@Radhaun2 жыл бұрын
Two phrases I learned from my mom are "Is it a want, or a need?", A want can be put off for later, a need is always in budget. The other phrase is just "not right now" or, now that I budget in sections, it tends to be "not this month". This leaves it open for another time, permitting that I haven't decided whatever it is as just a want and not just a transient want.
@KamilosanW2 жыл бұрын
That’s so true … :(
@kayleemason133 жыл бұрын
I’m from Pittsburgh and my parents grandparents and so on have been instilled with the factory motto “do what your told” outlook on life. Pittsburgh is a huge part of the industrial revolution and the steel industry! So the factory machine like mind set resonates here! we are not taught useful skills in our schools and it needs to be talked about!
@420scene3 жыл бұрын
Growing up, I've been told I can't do this, and I can't do that and my family always put me down and so did people in school. That's what motivated me even harder to chase my dreams. I always wanted to be a broadcaster and always wanted to be on camera, in the spotlight. Of course growing up, there was no such thing as KZbin but now I teach people about horticulture on KZbin. We live in such a great time, contrary to what people say. It's so much easier to reach out to lots of people across the entire world, there are so many resources and platforms out there to get your message across. I hope everyone can follow their dreams and do what they love and become great at what they love.
@antoniomorales55333 жыл бұрын
I took a financial literacy class my junior year, I grew up in Salt Lake City, Utah. Taught me so much about finances, taxes, dividend/passive income, and saving money versus investing and making it work for you.
@VincentChan3 жыл бұрын
That’s amazing! I really hope other cities can adopt those kinds of classes. Did you find it helpful?
@jordanbarnett72473 жыл бұрын
Damn that needs to be required curriculum! We didn't have that in Washington state
@antoniomorales55332 жыл бұрын
@@VincentChan VERY helpful in my opinion, it allowed me to rethink what money is and how it works! Biggest takeaway was how to properly manage monthly finances and how to set/accomplish financial goals. But honestly because my dad and uncle’s built their businesses from the ground up; I just grew up absorbing what was constantly surrounding me. I was heavily influenced by their entrepreneurial mindsets. June, I moved to California and got my real estate license at 21! I love it so far. 😊 Thanks for uploading Vincent, I really enjoy your content!
@antoniomorales55332 жыл бұрын
@@jordanbarnett7247 Many American public schools don’t require it or even offer it because they solely focus on producing the working class.. but I agree; should definitely be a required curriculum!
@greciaa94732 жыл бұрын
One of my high school classes also in Utah were financial literacy too
@izzywoods7942 жыл бұрын
…i thought everyone’s parents bought clothes/shoes a couple sizes too big. You just rocked my world there bud😂😅
@Daniel_Braun3 жыл бұрын
Asking “how can I...” and working to provide value are such powerful concepts. Great work here man 👍
@VincentChan3 жыл бұрын
thanks so much daniel, appreciate the support :)
@ankakashi20013 жыл бұрын
"Don't just work harder, work smarter" - My AP Government teacher. One of the best advice I've received despite it's been so obvious because we are always limited by our time and health, making us DEFINITELY replaceable, so why not try to be something irreplaceable?
@simplyemily82513 жыл бұрын
Your storytelling with the beautiful background music gets me super emotional and teary eyed
@VincentChan3 жыл бұрын
Thank you I’m so glad you enjoyed it
@carolinehelen21133 жыл бұрын
I relate so much to your story about your parents, Vincent! Growing up, my parents kept the mindset habits passed down from my Chinese grandparents to save, save, save-my grandparents knew what it felt like to be poor and then to have money after building a business. The life lesson they gave us was to not live beyond your means, lest we fall into poverty. I wouldn't say I didn't have nice things growing up, but my parents never really bought me any branded luxury items. I didn't understand why as we are capable, but I do understand the reason a lot more now especially with the recent pandemic and inflating economy. I just discovered your channel and I've been learning a lot, keep up the good work!! x
@stevetorres763 жыл бұрын
Being rich is the opposite of being poor. It’s incredibly easy to get poor quick, so to do the opposite and get rich it shouldn’t be quick it should be the opposite of quick.
@hugono39382 жыл бұрын
Hard if one has children to care, love, and feed for, even if the desire of new things is not there.
@christopherlee73342 жыл бұрын
@@hugono3938 My parents told me that building wealth must be multigenerational. Just as their parents sacrificed everything so they could come to America and get a good education, so they in turn sacrificed their time and opportunities for me and my sibling, with the expectation that when we have children, we will do the same for them, slowly building and accumulating wealth over the span of decades.
@hugono39382 жыл бұрын
Christopher Lee That sounds quite similar to my parent’s way of accumulating wealth, though we all work together to do so. Anyway will do, though!!
@christopherviteri36033 жыл бұрын
My mom was a refugee, my dad lower class upbringing. The last 10 years they have experienced middle class but no spending money check to check still. Today I’m 21 years old, and between working and saving at this specific diner since 14 I am buying the most popular diner in my zip code majorly done by myself. 7 years of savings, 7 years off my childhood, I missed parties, I missed family events, I missed a good chunk of a normal childhood to reach this goal. I also had oversized clothing growing up, I had 100 dollar school budget to go shopping for the year. And I think this video sums up the thinking , time can tell if you have a vision. Nothing happens overnight 1/3 of my life so far has gone to this vision. People will look down on you for not being a normal person , society as a whole wants you to follow the risk adverse systematic way of thinking…..get a job, buy a house, start a family, use your 401k to support you till you die. My favorite quote was “If it was so easy to become rich, everyone would be rich”
@dynaryda88572 жыл бұрын
Damn bro respect. How much did you have to save up if you don’t mind me asking
@melissamariee7102 жыл бұрын
That's why I quit my job as a receptionist and became a stripper. Definitely broke the societal "norm" but I can pay my bills and am making ~20x more a day working less hours. I am an independent contractor now and can make my own schedule. Will continue doing this until I graduate uni
@trevoreff49063 жыл бұрын
The KZbin Algorithm brought me here. Love the video, Vincent! Everything you're saying resonates with me. My father-in-law is of the "work harder if you want more" mentality, and I've watched my father's business crushed by the fists of our government, so never take a chance. I was trapped in my own mind from other bad experiences, so one take away from this is to never let negativity steer you away from your goals. Since then, I've educated myself about money and achieving wealth and legacy. I find myself (in mindset) pulling away from my colleagues, all they talk about is the material items they spend their money on and the justification of it (the way I use to be). I've managed to get out of my own head and push away from the hive-mind. My investment portfolio is looking strong, and I'm about to sign for my first rental home. For those reading this comment; you've got what it takes to change the financial outcome of your life!
@Rekeaki3 жыл бұрын
I was taught about personal finances in school. We covered savings, how to invest in shares, how investing in property worked. Most importantly we learned about how inflation worked and how important it was to invest your money so that it didn't lose value overall. sticking dollars in a sock under the bed was actually a way to lose money, not save it. I went to school in Australia, but the class I took (I was in year 9, age 15) was optional. Only about 1/5 of my year level took the class. I 100% credit this class with setting me up in life. I would NEVER have invested my money at all had it not been for this class (nor would my husband, he only did it because I took over the household finances and started investing). We are now decently well off, living in comfortably in Silicon Valley, one of the most expensive places on earth (one of). To be honest, I would live somewhere cheaper lol, but we would not have even had the choice of living here had it not been for the financial savvy I learned in school as a 15 year old (and significantly built upon as an adult because I had learned the value of financial knowledge). My toddler son, when he grows up, will most likely have to learn from his parents but at least now I can be confident that I have something of value to teach him.
@VincentChan3 жыл бұрын
that's amazing monika! It's fantastic to hear that Australian schools offer some form of financial education even if it wasn't mandatory. How do you find life in Australia compared to the US? specifically in California? I've always wanted to visit Australia :)
@Rekeaki3 жыл бұрын
@@VincentChan Australia is a huge country, and so is the USA, so its very hard to compare the two because you can get a completely different answer depending on which two parts of each country you compare. We moved from Melbourne to the Bay area and they are extremely alike, both in the good aspects (weather, culture) and bad (traffic, house prices). So much so, that if you are from there, I would probably tell you not to visit the southern parts of Australia because it will feel like you wasted your money travelling thousands of miles to visit a place you could have seen at home lol. The further north you travel in Australia, the more exotic and "Steve Irwin, crocodile hunter" things become. Living in the US has a lot of advantages if you can afford to live here. My husband and I have many more job opportunities here than back in Australia. The convenience of all the services/products you have here is also pretty different (the number of things you can get delivered to your door is insane). Australia however offers a kind of laid back "she'll be right" attitude that I miss dearly. It is also a country that while it plenty of problems, especially with race/immigration, offers far vastly more opportunity for those who have little or no money (like my family was when I was growing up). I feel like it is a much kinder, less brutal kind of place to grow up and exist. You may not have the same "Freedom" as you do in the US, there are a lot more rules and regulations, but you have free healthcare and and education system that allows even someone with zero dollars (like I had) to get multiple university degrees. The streets are not lined with homeless people in Melbourne like they are in California (and other US states) despite house prices being just as high. Australia has that safety net that the US lacks (imperfect as it may be). All in all, I kind of see the two countries as equals, where one country may be better on some levels, it will be worse in others, so it has never really mattered too much to me or my husband which one we prefer to live in. In short, Australia is where I would choose to grow up and retire, the US is where I would choose to work.
@vincentlee49033 жыл бұрын
@@Rekeaki I really enjoyed your comment! I just wanted to ask what your career is and if you have any career advice for a graduating college student that still has no experience?
@JakeRichardsong3 жыл бұрын
How rare. I have only heard one other person say he/she learned about personal finance in school at that age.
@Rekeaki3 жыл бұрын
@@vincentlee4903 I'm a mechanical engineer with a bonus physics degree and my husband is technically a telecomunications engineer (he got a PhD in this field), but he now works in hardware design. For college students I guess my advice is to focus more on finding out what employers want in the field that interests in you and do anything you can to get that experience. Don't chase the big paycheck in the early years if you have the option not to. Experience is FAR more valuable. Do NOT endlessly grind in your job on things you already know how to do in those early years. Your job is to LEARN and build new experience. At the same time, know your worth, even if you are chasing experience, make sure you are getting paid fairly for the work you CAN do. When it comes to finances, I strongly recommend knowing exactly what you spend on the major things in life. If you don't know what percentage of your paycheck you spend on groceries (or utilities or transport, whatever), you are flying blind and have no chance of saving money. Once you know what you spend, tweak those numbers until you find a balance that you can comfortably live with while still setting aside money to invest. Start out with creating an emergency fund that is invested in low risk investments that you can withdraw quickly (within a day or two). Get savvy about credit cards and have at least one solid card that you use and pay off fully every two weeks, or however often you get paid, to start building your credit score (this card is critical because it will allow you to also cover emergencies while you take a few days to access your emergency fund money). Once you have enough in your emergency fund you can start investing the surplus into higher risk things like shares/ETFS. Forget get rich quick investments, focus on steady growth that is modestly ahead of inflation, its not worth losing everything just for a big gain that never comes. Don't waste time trying to save for a house deposit, for pretty much my entire life, investing in shares has performed better than investing in home and I suspect that will continue (unless you are house flipping, that's different). You are NOT throwing money away by renting, far from it. Check your bank accounts and credit cards EVERY day so that you are always on top of changes or miscalculations in your spending (or spot fraudulent transactions). That's pretty much it. I don't think I did anything other than that. Once I built up enough experience (for an engineer this period is minimum 5 years), I started being able to start ramping up my push for better and better salaries. Never stop learning and never stop building on that experience. My husband and I went from a combined household income of around $60k in 2007 (and that was after working for 5 years already) to around $460k when we did our taxes last year (in fact, its probably a bit more because we have pre-tax stock options too). We had to invest in ourselves before the bigger paychecks came along. We have also never owned a home. Renting all the way! lol
@Yoyomeyo2 жыл бұрын
You touched on this at the beginning but I thought you were going to talk more about how we overspend and how wanting to appear rich keeps us poor
@xKalxElx3 жыл бұрын
My 11th grade economics teacher told me, “you earn based on what you contribute to society” unfortunately society does not value everything equally. Top entertainers make far and above what the average teacher makes, or nurse, police officer, etc. you can have the same job but get paid very differently depending on the sector of economy you are in. For example, look at finance, tech, and health care, if you are a furniture salesman versus a pharmaceutical salesman, your commission will differ greatly. Sales is sales.
@ArtCore6163 жыл бұрын
Hardwork is just the door, everyone has to go through it at some point.
@VincentChan3 жыл бұрын
couldnt have said it better myself arturo :)
@alowamamba45683 жыл бұрын
Hard work with the right mindset and vision yes
@RLomoterenge3 жыл бұрын
“How can I afford it?” -Robert Kiyosaki in Rich Dad, Poor Dad
@ZiggyisAmazing3 жыл бұрын
I took personal finance in high school. Best class I have ever taken. Learned how to buy stocks.
@VincentChan3 жыл бұрын
That’s amazing! What state are you from?
@iheartjbgccb2 жыл бұрын
Must be nice I never learned how to write a check 😅 I still won't 100% jump in to stocks because I don't fully understand and in the back of my mind I'm just going to lose money
@swordartonline67192 жыл бұрын
Fr though learning finance/stocks changes lives mine included!!! 😄👌🏾
@kauigirl8083 жыл бұрын
Wish we had the internet when I was in HS. Y'all lucky if you're still young and aware of saving and investing. Nobody taught me anything.
@Premium_Water3 жыл бұрын
nobody taught me anything too. I learned everything on my own as well.
@kauigirl8083 жыл бұрын
@@Premium_Water well if you're younger then me then you're very fortunate.
@avapilsen2 жыл бұрын
Sorry to hear that. I'm grateful I'm learning all this at twenty-three.
@kauigirl8082 жыл бұрын
@@MauriAllure my dad retired at 70. He worked the same job for 30+ years. But he did sock away 401k plan.
@BrainyExpress133 жыл бұрын
People want overnight success and a lot don't realize the work that's involved. I didn't learn much about finance at all in school, thankfully they teach a little more about it now but I still think it's not enough. Some people don't even understand the basics of banking, stocks, finance, credit, etc. which is such a BIG part of everyone's life.
@Ugogirlz3022 жыл бұрын
I learned personal finance in school. A personal finance class started being required in 2007 in Missouri. I had to take it as a graduation requirement. I It was just one class. Many of my peer didn't take it seriously but I felt like I did learn some things from it. I learned how to file taxes, write a check, importance of checking account, general information about credit cards, basic budgeting, we had discussions about college vs non college options and there was this simulation game on the computer in which we played a person who we had to do there budget.
@illegaldru6s52 жыл бұрын
That's actually lit
@ShalomSimplified2 жыл бұрын
I actually did take financial math in high school, as well as a home ec class that talked about budgeting. Having said that, they were basic level stuff that didn't necessarily have a major impact, as compared to years of training before that. I think that they helped, but only marginally. I was raised below the poverty line in Canada (which is obviously nothing compared to much of the world, but I did spend a month of my life in a shelter and there were times when our cupboards were pretty scanty). It's true that there was a lot of "we can't". On the other hand, I didn't really have a mindset of needing more than I had when I was on my own and working. I was only making around $20,000 a year, but I had enough to meet my needs and even do a little more than that, and I never felt like I was poor or like I needed to strive to become rich, either. I was satisfied. So, I don't know if I had a true "poverty mindset" but I probably didn't have a "rich mindset" either. I suppose maybe I still leaned more toward the former than the latter. I do have one good tip for getting ahead on a practical level, and that is growing your own food as much as possible. You will eat better and save lots of money in the process. Like anything else, it takes an investment up front, but the nice thing about it (speaking of the growth mindset) is that you can start small and build up as you go. If you only have a square foot of soil or planter boxes on a balcony to work with, you'd be amazed how much you can grow in that space! Give it a try!
@joeykenney3 жыл бұрын
If your mind can’t conceive it, you’re unlikely to achieve it. A big part of succeeding in anything is reprogramming all the bad stuff you’re taught growing up
@VincentChan3 жыл бұрын
exactly! thanks for putting it so nicely joey :)
@datascinerd2 жыл бұрын
I feel very validated by this. In South America it is so hard to explain poverty mindset
@jobrosfanaticc2 жыл бұрын
I feel like this is applicable and beneficial towards not only finance, but other areas of life as well. For example, growing through life experiences. While experiencing heartbreak, one might tell themselves "I can't get through this." But what happens if we switch that to "How can I get through this?" I feel like this subtle switch can help us through many things.
@Veecee113 жыл бұрын
In New York the closest we came to learning “financial literacy” in school was senior year economics where we learned to budget on 1500 a month. Teaching us that it doesn’t get better and we have to work with what we have.
@aracystic283 жыл бұрын
Oh… I thought that was what everyone meant when they said they had financial literacy in high school.
@bigandlargepapi2 жыл бұрын
My school offered personal finance as an elective but not many kids took it
@angelachanelhuang16512 жыл бұрын
Minimum.wage
@NateAux2 жыл бұрын
Im in my senior year in highschool in PA and I take a math application class and have learned about student loans, taxes, net pay, medicaid, medicare, budgeting for starting positions and some more
@computerguy15792 жыл бұрын
Great video. Too many people have no financial literacy, and it's shame that it's not taught at all in schools. Live below your means, learn to work smarter (also good to work hard, but working hard isn't necessarily good in and of itself), learn to invest your money after you've built up an emergency fund. These are all things all of us would benefit from.
@Fredman55512 жыл бұрын
This seems like a common trait amongst people with immigrant parents, who came from a harsher environment back home. I too learned about the "inaction" one takes to build wealth from them. As a result, I've never felt the tug of needing to splurge money as an adult. Growing up, that desire for a toy or something you wanted was squished by the parents. Sucked at the time but I thank them for it today. I would look at friends, and say things like "just don't buy/spend on that" only to run right into their programming and have them quickly scan their brains for any excuse as to why spending the money this time is worth it. Great video, this was my first of yours and ill definitely be watching more!
@EliteJroc3093 жыл бұрын
I was able to take a consumer math class in my high school that talked about money management and financial issues that basic households have. The school was Joppatowne high school in Joppatowne Maryland.
@VincentChan3 жыл бұрын
That’s really awesome of your school! I truly hope they adopt that class across the nation
@teutonalex2 жыл бұрын
Our class in California taught us how to fill out a check but not what an account is, where the money comes from, etc. They taught us how to spend .
@Randomvideofanatic2 жыл бұрын
Fortunately public schools finally started teaching personal finance in Oregon. The emphasis is on retirement and investments showing saving your money isn’t enough. I’m glad you touched on following your parents money management styles. I feel very fortunate my family has a long line of hard workers that don’t feel the need to look and act rich, but have our needs met enough to be generous to those around us. Great video!
@serenitynow62322 жыл бұрын
Even worse is when people you love, your wife, parents don't believe in you that you can make it. I have my wife always criticize my dreams of success, sometimes I lose confidence, but I will never stop keep going.
@patriotic_isaiah17572 жыл бұрын
Don't, my dad is dealing with the same thing, I believe in him. You'll get it one day, don't give up!
@Enchanteralle3 жыл бұрын
I really like how you point out that CEOs who earn that much more than an employee do not work that many times harder than the employee. I've been taught to work hard since I was young and I always hear my family tell me that they couldn't buy xyz because they can't afford it. I was also bought clothes that were 1-2 sizes bigger so I can grow into them and I'd go to school with big puffy jackets and baggy clothes. Used to be a bit embarrassed because the other girls in class had clothes that fit them, so I was "un-girly." I was taught to value the things I had and I sure worked hard. However, I have learned that people especially millennials are given few times more work than the average worker years ago. Wage isn't exactly catching up with inflation. So I too feel like I work like a hamster in a wheel, but my company has no interest or intention to increase my wage depending on how hard I work. I have my own business as a side hustle and that's when I realized that I've been so underpaid by my employer. I honestly feel like with how corporate companies treat their employees, everyone is going to end up living paycheck to paycheck while burning out.
@KamilosanW2 жыл бұрын
Your story sound like mine lol I experienced the same thing TT
@ThahnG4133 жыл бұрын
I'm in highschool, I learned almost everything about personal finance from the internet, balance sheets, income statements, stocks, bonds, interest rates, loans, lending, inflation, deflation, all important concepts hardly talked about in school, I can see many who also don't understand budgeting in my school, they work mimum wage jobs and spend all their money on fast food, I hope they eventually take finances into their own hands.
@FluffyBunny90023 жыл бұрын
You're going to get rich...
@ThahnG4133 жыл бұрын
@@FluffyBunny9002 Haha that's the plan, we'll see how destiny goes, or some would call it fate.
@galatemalate12562 жыл бұрын
I am from Mexico, I had personal finance as a subject in high school (private high school). I remember they taught us how to manage our budget and we read and discussed Rich Dad Poor Dad plus other things like compound interest, etc. This was a HUGE advantage at that age, mostly all adults don’t even budget in Mexico
@HD-lp4ku3 жыл бұрын
Thank you so much for bringing such mindful content when it come to building wealth.
@VincentChan3 жыл бұрын
Thank you so much for watching :)
@prosamis2 жыл бұрын
I did kindof learn finances in school. Not by it itself, but when I was a kid, I often shared some of my food with friends, and my friends /loved/ it. Because I eat the same things practically daily, I got bored of said food and I started craving cafeteria food, but my parents refused to give me money for that So what did 6 year old me do? I sold the food they gave me and bought the cafeteria food I wanted I learned many lessons from this, but I just found it really nice that generosity can give insight to what people want. And when there's a need, there's a business opportunity. Being cognisant of that is crucial
@plsarguewithme26652 жыл бұрын
When you mentioned the education part, that made me realize why someone like me, who grew up studying in an affluent private school despite being just middle class, is more ambitious and have probably reached greater achievements than people older than me who studied in public school. My school is catholic so charity is a big thing to us. We're always sent to impoverished areas to do outreach programs but still subconsciously position our selves in a more dominant position where we pity them and let them form a reliance on us instead of actually considering ourselves as part of the reason why they remain poor. Also yes, we are taught how to manage personal finances. In fact, we were taught the entire accounting cycle in 8th grade which is something I just realized was usually taught only in private schools. Since we were elementary, learning how to earn and manage money was part of our curriculum. We would even have these school market fairs where students put up their own food stalls and other products for sale. Ofc some public schools do this too but not as prolific and as early as elementary like we did. In my country, the Philippines, that attitude towards charity is such a common thing too. That's how we maintain the order of the social classes. We're not helping them get out of poverty, we're just helping them get basic necessities that is their right to have in the first place. Just enough to make them comfortable not to want more. And building that reliance on us creates this mindset that they owe us even though they dont. Charity breeds poverty, because what charity here does is just give band-aid solutions to oversized wounds
@matthewwesterman53372 жыл бұрын
My high school in Virginia required us to take a personal finance class in order to graduate. It was a really great introduction and I found it useful.
@AhmetKaan3 жыл бұрын
*“The only person you are destined to become is the person you decide to be.”* _―Ralph Waldo Emerson_ The chances of you seeing this comment is pretty low, but if you did, *I hope you have an amazing day...* 🖤
@misterbanshee79923 жыл бұрын
Good comment and quote.
@worldwide1233 жыл бұрын
I see your comments everywhere 😂
@misterbanshee79923 жыл бұрын
@@worldwide123 yea I get bored and watch KZbin.
@angelachanelhuang16512 жыл бұрын
There is minimum.wage
@shannon27482 жыл бұрын
Thank you. May you have an amazing day today.
@stickwithbrit86353 жыл бұрын
This was a super informative video, I find that I’m stuck in the poverty mindset and this was something I’ve never heard before. Thanks so much for making this video!
@Jaxson81572 жыл бұрын
“Don’t work hard” “work hard and break the mold” bruh
@kerriweiss99002 жыл бұрын
Rather than tell my kids “we can’t afford [that]” or “we don’t have the money for [that]” I shut them down by saying “we don’t need that”. I’ve always tried to drive him that we always have money for needs and that we never don’t have money. We just try not to choose to spend money on wants unless it was intentionally saved for or it’s an occasion.
@McNutt312 жыл бұрын
I’m currently reading rich dad poor dad. Very cool to see the lessons of that book being expanded upon on different mediums other than the actual text itself.
@lw32692 жыл бұрын
My favorite financial book, ever!
@6ohthejoyy2 жыл бұрын
I’m from Canada and I went to high school at the University of Winnipeg, it was a small private school for students to help you transition to uni more easily. I had this one professor for a pre calculus class who did two lessons that weren’t on the curriculum; first he made us calculate how likely a person is to win the lottery, and second he taught us about compound interest and how it applies to credit cards etc. Those two lessons changed my life, I don’t gamble and I try to use compound interest to my favour through investments and avoiding debt as much as possible. Thanks professor!!
@shirkey74583 жыл бұрын
I’ve been enjoying your content for quite awhile! It’s all the things i keep telling people and im glad to have this community of people who thinks the same
@aj66882 жыл бұрын
Love your channel. In 2007 I purchased a flat for $187k. It was very, very modest. Friends said they wouldn't live there because it wasn't nice or big enough. Well the joke is on them because I sold it with a $245k profit in 2015 with no renovations. I didn't even paint or replace the carpet. I purchased another property and sold it 2 years later for $90k profit with no renovations or changes. Then I purchased a primary residence and an investment property. I have 2 years of expenses (inc mortgage payments on both properties and property maintenance) saved. My investment property is on the market. When it sells, I'll pay off my primary property and have around $100k left over. I'll max out my retirement (I'm not in the US) and the rest will start me off in investing. I made a lot of financial sacrifices but I also made a lot of stupid financial decisions along the way. I work part time now and get penalty rates for shift work so it's like I still have a full time income on part time hours. I could retire but I want to travel and I'd rather work and earn than tap my savings rn. It was a 15 year journey to get here. I did not get rich quick. I got rich at the speed of a very slow sloth. Still feels good :-)
@joerogan183 жыл бұрын
Great video. Thank you. Any mindset books you recommend?
@VincentChan3 жыл бұрын
I’ll share some in the future :D Thank you so much for watching :)
@jdurham26669 ай бұрын
Viewing this 12/29/23. Your words spoke volumes to me. Financial education is key. I never received that growing up. I cried, I smiled, yet - I hope. Thank you. Have a Happy New Year 2024!
@YuZeLuNa2 жыл бұрын
this video was phenomenal, really opened my eyes on some things
@Bojeezy8 ай бұрын
I am surprised how Personal Finance is still not being taught in High Schools. This is what should of been taught in Economics.
@axelaazej7 ай бұрын
We were taught once in back high school about saving. Our teacher asked us if we have a bank account. If we don’t she told us to open one. That’s it.
@robertsteinbach73252 жыл бұрын
Same here. Our entire extended family learned that from the Great Depression, passed on from generation to generation.
@TheDoomWizard3 жыл бұрын
I just started a youtube channel informing people about the dangers of climate change and I'm 1,000,000 times happier than someone working in finance who hates their lives.
@Lexi-dn7ix2 жыл бұрын
i am from new york city and took economics and my teacher spoke about personal finances for a short while and stocks, loved that guy
@mattnguyen16723 жыл бұрын
All these people buying flashy cars and watches and new gadgets but live in an apartment and in debt. Toxic
@VincentChan3 жыл бұрын
Exactly! thanks for sharing that matt
@matthewwaterson89122 жыл бұрын
Your completely right about learning about personal finance and the gap in knowledge. I am from Canada and I started learning about this stuff through a summer camp. It was called camp Millionaire at senaca college and they taught you about investing, credit cards, saving and banks. The best part was where we played a game teaching about investing by playing the song one cent, five cent, ten cent, dollar by soca boys while we invested poker chips into real estate, stocks and bonds and showing how they go up in value over time. The crazy part is that this camp no longer exists which to me is a complete travesty because its teaching children at an early age money rules and skills for the future.
@theamoremovement87732 жыл бұрын
We were just talking about changing our mindset to "That can't happen or it will never happen" to "HOW can we make it happen?" It is a game changer in life!! More prosperity to you Vincent!!
@job95382 жыл бұрын
I was homeschooled and I had a textbook that taught basics like how interest works, budgeting, how to write a check, banking accounts, etc.
@AhmetKaan3 жыл бұрын
*Hey, the person who sees this comment! Don't forget, you are amazing! :)*
@Vyvyarth2 жыл бұрын
I always say that the wrong people get given the wrong opportunities. I am a new adult, i have no money but i don't struggle. Starting from $0 this is fine by me
@-haclong23662 жыл бұрын
06:00 I learned about personal finance in economics class, the Netherlands.
@amuselucky2 жыл бұрын
I don’t even remember what the acronym stands for anymore but during 12th grade we were “forced” to take a class that everyone referred to as “PIG”. This was a teacher that elected to teach a course that was all about the things she thought we should be learning and experiencing in school before we graduated. She was known to be a hard ass and so it wasn’t a class anyone liked. In the course we were given a mock income and taught how to budget it for a functional adult life, in that budget we also had to invest in stocks, and donate to charities we chose. She made us memorize the names of 50 countries around the world and where they were on the map, and we had a mandatory amount of community service we had to do to pass the class as well. We also had to research our family tree as far back as we could to find out where our families immigrated from. It went by so fast, (it was a semester style class) and was so jam packed with information, and the teacher was so unpopular that I and I imagine my other classmates never retained all that much after the fact. But looking back on it as an adult I realized how much of a rockstar that woman was for working so hard to really teach us kids these important things.
@janelycardenas67712 жыл бұрын
your personal anecdotes make learning about financial ‘freedom’ so much more relatable- i appreciate it bc it is sooo missing from the conversation!!!
@VincentChan2 жыл бұрын
thank you janely!! that means a lot :) thank you so much for watching
@zchen11082 жыл бұрын
omg, I love how the color of your water bottle matches your desktop background (3:49), that red to purple to red gradient at the bottom left corner is so satiating to look at, I can't.
@FishingForLife282 жыл бұрын
I begin at my first high paying job tomorrow. And people have asked me if Im gonna move to a nicer place since I live in a 20m² appartment or if Im gonna buy a car. But no, Im not. My plan in life is to do nothing, but play music. Thats what I love. This job is supposed to support me and pay for music lessons untill I can get accepted into music school. Everything that is left I will invest either in devidend stocks or some other assets that can help to support me for the rest of my life, since its hard to make a living purely of playing gigs alone(trust me, I've tried) Livestyle inflation is a real thing. A mate of mine have had a REALLY high paying job for about a year, but he might need to quit soon because its to physical demanding for him. He does not have a single penny saved up. He is fucked
@kaylachung123 жыл бұрын
It felt good to watch that. Almost therapeutic since it makes me feel like I’m moving in the right direction and seem to actually know what I’m doing starting this business. Lol
@VincentChan3 жыл бұрын
Thank you Kayla!! I’m so glad you enjoyed it
@alexisvezina-matte92462 жыл бұрын
I'm from Quebec, Canada and in my last year of high school we actually add a personal finance course which was only let's say 15 hours for the whole year. We learned the basis: whats a TFSA and rrsp, stuff like that, but the problem is more that we only had 15 hours of material, which is really not enough to make a change in a people way of thinking. There's also a question that needs to be asked : how many people who get access to personal finance course will use and implicate what they learn in their life? Honestly I don't think so many.
@DrJessicaLouie3 жыл бұрын
How can I afford this? I learned this simple language change years ago and it's been a great reset to the scarcity mindset. Another great video Vincent!
@VincentChan3 жыл бұрын
always glad to see your comment jessica!
@skateata12 жыл бұрын
This guy really is intuitive and unbelievably intelligent. I know he went to a good college but some things can't be taught.
@FluffyBunny90023 жыл бұрын
I'm able to live off $2k a month and I can actually lower that in several ways if I wanted to. I can save about 50 percent of my income every month if I choose. Once you realize you don't need that new iPhone or a flashy car or you don't need to dine out all the time, you'll be fine. Also, there is nothing wrong with Ramen noodles. That stuff is delicious.
@VincentChan3 жыл бұрын
That’s awesome! Did you ever try indomie noodles? amaaazing
@FluffyBunny90023 жыл бұрын
@@VincentChan No. I have not. I will have to find them.
@VincentChan3 жыл бұрын
@@FluffyBunny9002 tell me what you think :)
@josephstclair59372 жыл бұрын
Quality, organic food is one thing that you shouldn't have to sacrifice. Cheap carbs and sodium might taste fine but that diet will increase your blood pressure and weight and decrease your quality of life in the long term.
@NorthStarPNW2 жыл бұрын
Joseph (below) is right. Everyone goes for the 'tasty' food, and we pay for it with poor health (obesity, diabetes, cardiac problems), expensive medical care, shortened lives and lower quality of life. Even if you just want to save money, stay in good health. The biggest cause of bankruptcy in the U.S. is medical bills, because of our ultra-expensive profit-driven health care (actually 'disease management') system. Good health = lower cost and higher quality of life.
@henrydavis7222 жыл бұрын
9:38 I love embezzlement, this idea really got my gears turning!
@emmanuelhardy72772 жыл бұрын
You have created the perfect loop, but it's important information and not useless I respect how you've trapped me.
@rihamelbadri13992 жыл бұрын
You don't know how much I needed to hear this message today!!! Thank you. You're inspiring.
@chappieq58052 жыл бұрын
I’m from Minnesota and I had a amazing computer aps teacher, he sucked at teaching people how to use computers but I learned so much about personal finance from him
@Kunoichi4ever42 жыл бұрын
I d divide people by 3 questions: 1. How can I afford it? (great thinking finanence wise) 2. Can I affor it? (Not great, but there is financial awareness) 3. NO questions asked, just buys the stuff - These are the people that need most help, coz sadly some people were not even taught to manage their money, which is the msot dangerous path.
@GiornoLovesDeathGrips2 жыл бұрын
I've learnt about finance in school. I live in South Wales
@elisthetic2 жыл бұрын
subbed for the salt lamp with googly eyes at the back, i love that little friend
@brianl75352 жыл бұрын
I love your "cog" analogy for people who work hard, doing the same thing over and over does not make you any better and we all should prioritise personal development over your employer's profit. I think the key is finding that balance at work where you are most efficient, that would then buy yourself free time to explore ways to improve your situation (by learning more skills, exploring opportunities outside of work).
@maojunning54233 жыл бұрын
one of the best video i ever watched. no bullcraps or secret formula, just genuine opinions that are in touch with reality and inspires people to find solutions for themselves.
@sophrrrrrr2 жыл бұрын
I actually took a business class this year in high school. We learned about finances and we even participated in a program that has bills, debt, and a game called 'Life Happens.' This game simulates things that can happen in life which require money. Say you got a speeding ticket, it would be something like that. I'm from Canada.
@kallistajohanson63992 жыл бұрын
Personal finance was a required course for graduation at the high school I attended, located in Wisconsin. We learned how to budget, and that’s about it…