Why It's Actually More Expensive To Be Poor

[@ElAgustin]

What's another thing you have to spend more money on when you are poor?

[@fahad1232]

Living in a place that doesn’t match the life you want such as different cultures, different social life ,toxic community , limited options, etc… so you spend all your money trying to adapt to a society that doesn’t belong to you and you stay stuck there for many years because planning to change the place is heavily costly depending how much you make , so you really need to live a simple life and try to save everything you make for your escaping plan.

[@geriatricmillenial1983]

The low income and middle class actually pay more on income tax than the actual rich and ultra rich.

[@tabbyrhodes561]

Food. We live rurally and so many in our area will go to a corner Family Dollar because they can’t afford the gas to get 25 mile away fresh grocery. It’s maddening watching all of those stores pop up in our rural communities. As if it’s all being done on purpose 😡

[@dreamleaf6784]

​@@geriatricmillenial1983you think so? Maybe they pay lower percentage wise. But I bet they pay more total. For instance. If you make 12k, you will pay nothing in. Taxes. If you make 22k you will pay 1000. Now I'm sure you can imagine they pay more than that.

[@CourtneyRobinson]

@@geriatricmillenial1983 our tax system is graduated. We all pay the same at each level. When you get into a 30% tax brackets your only paying 30% on that upper tier of your income. We all pay the same on the first 50,000 or so. However, I do believe someone on such a low income shouldn’t pay at all. We get about (approx) a $12,500 deduction per person on that first $12,500, then nothing on the next $10,000ish then the paying starts. It’s a mess for sure and no one making less than $30,000 (single) should be paying in my opinion. My son made about $30K and owes $200. That’s hard when you are barely getting by.

[@CourtneyRobinson]

I was on a very small income until I was forty and I learned to be very resourceful. It meant not having many wants, working more until eventually I climbed out of the hole of poverty. Making smart decisions is key, I call it Smart Spending. Some things I see in family members I know that keep struggling… and have the ability not to. Not spending your rent money on unnecessary expenses and then incurring fees. Buying concert tickets with your car payment money and getting late fees. Buying new shoes instead of upgrading your janky phone and missing work because you use your phone for your job. Paying for books or a personal trainer instead of using the library or taking free workout classes online or cheap ones at the local non profit gym. I feel super frustrated with my family when I see this. I’m trying to tell myself that it’s not my business but when they call me constantly complaining it is hard to keep quite.

[@andrewawood3658]

Agree with u 100 💯 on point So true

[@marianhunt8899]

Someone has to spend money in the economy or it grinds to a halt. Many smaller businesses depend on people spending. The rich usually hoard money!

[@CourtneyRobinson]

@@marianhunt8899 With over half of Americans are living pay check to pay check. I think we don’t have to worry. Consumerism and greed is rampant. And I believe most of us here are spending money consciously. There is a difference in being a consumer and being consumeristic. Most Americans can’t afford a $400 dollar emergency so the wise words on this channel would benefit many more than it will hurt. Our out of control society uses far more resources than the rest of the world. Our greed hurts the less fortunate.

[@weird-guy]

When you lend money to someone never expect getting the money back , it set you for disappointment , also never lend money you can’t afford to lose.

[@NSGLiv]

Car payments are the main thing that will keep you poor

[@Forever30byci]

That’s so true! I work in the bank industry and I see how the rich get so much more perks just because they have the money!

[@meyerjac]

When I was young and poor I was constantly paying late fees, overdraft fees, parking tickets, credit card interest... Now that I am older and have money my credit card pays me, I never overdraft or pay late, and I park in a driveway. Being poor is extremely expensive.

[@bonniehuskey811]

Two years ago, the dr told me I was type 2 diabetes ! I changed my food choices and started exercising! Lost hundred pounds went off meds & paid off my debt ! You're so right, Alston ! I watch you faithfully! Awesome info 😊

[@xlerb2286]

There's also the concept sometimes called "Sam Vimes Boot's" or just the "Boots theory" where people that are poor have to buy poor quality items and they wear out or break faster than a well made item. Boots for good example. Instead of buying a better quality boot that will last much longer they buy a cheaper pair that will wear out much faster, and also may not be as comfortable etc.. So over the long term they spend more on boots than someone that buys the better product, and also suffer more from the problems with poorly made or worn out boots.

[@beth3535]

Especially when that better product can be found in solid condition online for a fraction of the price and tax - even counting shipping costs.

[@ingridgallagher1029]

100%! As someone who used to be really poor and on assistance I can relate. I need a really good pair of work shoes for my service job, so I could get through the shifts comfortably without killing my feet. I thought about it and decided to buy a really high quality pair on credit, because I considered it an investment in myself. The shoes paid for themselves after a few weeks of flying around the restaurant without pain and gaining more tips as a result of my energy not being zapped up by pain!!!

[@sharonlugone5955]

Great video, Austin! Because poor people might not have health insurance, they don't go to the doctor when they're sick. They also don't get the rest they need to get well because they can't afford to stay home from work. Some poor people have zero sick leave. They may end up in the emergency room for something that could have been taken care of with an early doctor visit. An emergency room visit is EXPENSIVE. I know all this from personal experience.

[@marianhunt8899]

Yes, it is terrible. What a savage society we have.

[@Anglophile2012]

Great video! Minimalism Do not go into debt Pay off your mortgage Do not make commitments you cannot keep Learn about yourself and how to care for yourself For 1 year I slept on an inflatable air mattress at a friend’s studio apartment, used public transportation, and saved every penny and was happy

[@robinjohnston222]

i figured that out 30 years ago. i called it the "high cost of being poor".

[@fafa1648]

Not to mention, you're more open to abuse at the workplace when you are poor. It seems everyone smells blood when you are poor and attack all at once.

[@ajh.4131]

Hmm…care to elaborate? I think i under where you’re coming from but I’d like to hear your thoughts.

[@mikenoneofyourbusiness7122]

Nobody knows you’re poor, when you start working. How do others treat you any different, since they don’t know how broke you are?

[@jollama]

@@ajh.4131Bro said under where 💀

[@leonrobinson8180]

​@@mikenoneofyourbusiness7122 I disagree. Bosses can sense your desperation and take advantage of it. They'll often judge how poor you are by how well you dress, where you live, what (or if) you drive and how often you complain about your finances.

[@ligbzd837]

I know people who are in their 50s and still don't get this about money! Knowing how to manage your money is KEY to a good life.

[@minimalistsmanaged]

I couldn't agree more! Knowing how to manage your money is core to building a good life. I wish this was actually taught in school. I literally never had any classes about good money management and had to learn it all myself (once I finished school). Oh the things we (humans) could do if this was a core subject during our early schooling years...

[@mikenoneofyourbusiness7122]

Indeed! ❤

[@cherylT321]

I know 50 something year olds who behave the same way as well…I’ve learned to keep my distance!

[@jollama]

Age doesn’t equal wisdom as they say

[@GrannyLinn]

It really is this simple. Not easy… it took us years of focus and persistence to get out of debt. But the difference is stunning.

[@kenyonbissett3512]

Many times the poor are lacking in cooking skills, understanding of nutrition and shopping. Many work several jobs making it hard to find time to go get that tire changed. When our son was young, I stayed home with him and took over all those jobs we needed done that we never seemed to find time for. I learned new skills in food shopping, storage and cooking from scratch to save us the money we lost by me not working. I had to be willing to change and adapt. I started shopping at yard sales and thrift stores. It wasn’t easy to adapt but we did it.

[@redouteshabby2024]

This is spot on! I remember hearing something like this years ago...buy a mercedes or a rolex and you probably won't have to spend money on repairs or at any rate, will have a great service plan. Buy a cheap used car and guess who will pay all those expensive repairs? But the worst is the way you are punished for having a "low" credit score, with higher rates, denials, etc.

[@kovacdavid]

Well, the first part is absolutely not true. Luxury brands have by far the highest maintenance costs. Both Rolex and Mercedes. You’re much better off with significantly cheaper Seiko/Casio and Toyota, both giving you a top-class reliability and comparatively low maintenance cost.

[@weird-guy]

Mercedes is not what it usted to be, the era of the w213 is gone, Rolex is a status brand for the middle class to act rich and a digital watch will last as long as an analogue one ( not 5$ one).

[@77Arcturus]

Totally agree about no 3 and food choices. I have actually learned eating healthy is not so expensive as long as one avoids the fads of the moment and stick to real balanced eating. Unfortunately i still have to get some control of my will power when it comes to my blood pressure as a recent round of eating canned Ravioli ( a habit i got into during the pandemic ) for a week got my blood pressure high. Now am back to a normal healthy level but wearing a heart monitor for a week so my Urgent Care can make sure there is nothing else going on beyong just bad eating habits. Getting back to healthy eating habits with apples, bananas, oatmeal, whole wheat pasta, chicken and turkey, salmon fillet, green salads in olive oil and plenty of water. Oh and... COFFEE. Thanks for the always excellent advice on Frugal Living as always Austin Williams and keep on keeping on! ☕🍎

[@KittyKat-vb1nd]

That amount of garbage Americans eat is shocking. They eat crap, get sick and go into debt with medical expenses. Brilliant scheme

[@stevebubar6129]

My wife and I have a coin bank. We remind each other of the time we emptied it…. For a loaf of bread and spaghetti sauce at the dollar store. Live below your means and keep saving!!

[@jollama]

*Investing you mean

[@jaycristoval6155]

In my opinion you left out one very important detail. Poor people are forced to rent..... young people absolutely must save up the down payment to purchase their own home or they will forever be poor.... it doesn't have to be a nice place. It's just a stepping stone...

[@adrian3747_]

im a registered nurse and still renting for my age. Im already 32 and still saving for a downpayment smh

[@jaycristoval6155]

@@adrian3747_ it's essential....and 32 is young.

[@mikenoneofyourbusiness7122]

Yes, they must rent because that’s all they deserve! Save slowly and buy upfront, so the fees are minimal. Easy! Just need to live below your means.

[@plappin]

This is one of the sad truths of life in the USA and I don't see it changing anytime soon. It's the primary reason why so many of our urban areas are filled with tent cities of homeless and/or people living in their cars (and substance abuse is often the result of being in a hopeless situation). The safety net is shredded and we're all -- poor and middle class alike -- prey to financial institutions who see us as just a source of profit. Another example: if you don't have much cash, you're likely to use an ATM machine more often and there's almost always a fee, especially if you're using one in a bodega or gas station. Or if you're using an EBT card (Electronic Benefit Transfer) you often have to pay a fee on that, when the whole reason you're eligible for the card is that you're poor! As you say, it makes poverty very expensive. Great video about a depressing topic, Austin!

[@weird-guy]

As an European, I find it weird that you guys pay for ATM withdraws.

[@AverageJoeDividends]

I completely disagree that fast food is cheaper than cooking at home. Unless you are using very expensive ingredients, cooking at home is far, far cheaper in my experience. Processed foods also cost way more than whole foods. Here are some things that keep people poor that you missed. The poor cannot buy in bulk. They are forced to buy smaller expensive quantities. The poor also often does not have great credit and do not qualify for cash back credit cards. That makes everything up to 2.5% more expensive. Same goes for auto insurance. Being poor also often times puts you into a higher crime area where you will experience more property theft, damage and higher insurance rates.

[@AverageJoeDividends]

@michellesm26 there is a big difference between homeless and the poor. Many homeless also get free meals.

[@goosewithagibus]

My bank doesn't do most of these fees. But they DO the overdraft. Now, I think it's fair to have an overdraft fee. But this one is stupid. One time I went 23 dollars into overdraft. They charged me... Hold on to your hats... 150 DOLLARS. I called and told them that was bullshit and they refunded all of it, luckily.

[@ElAgustin]

Crazy!

[@rhondalyn100]

Another excellent presentation...well written, well executed. I appreciate your direct eye contact with the viewer. You are doing good things with this channel, Austin. Congrats!

[@cajunjamis9001]

Hello......Rhonda! I concur with you!

[@rhondalyn100]

@@cajunjamis9001 Hey, CAJUN! Hope you're having a good day!

[@stuffchat]

Didn't know there is such a thing as banks that don't charge any monthly fees. Must be wonderful to bank there. Cheers for sharing!

[@Minney-Me]

Some credit card companies may have available checking and savings options with no service fees via online.

[@mikenoneofyourbusiness7122]

Nobody stops you from doing the same and getting fee free account. I’ve got one, even as a fresh immigrant with zero language skills, zero credit history and zero job. Also, zero cash. I found the job, built up my credit score by being responsible, saved a few grand on a minimum wage job of $6/hr at the time and got a perfect account with all benefits possible! You’re full of excuses, so start doing the right thing. You won’t be able to work any more as you bet older and sicker, so maximize your efforts NOW! You can do this! ❤

[@JoshHitti]

This video should be insightful for people who don’t understand how the system double-squeezes people with lower incomes every day. On the flip side, there’s a spending problem across the socioeconomic board. Lifestyle creep is hyper-prevalent in the US and although people may be earning more and getting better rates, their spending as a % of income inflates. Over the lifetime of a large mortgage, expensive car, etc. they’re still paying a huge chunk of interest, even at a lower rate. Thank you for taking time to provide financial advice to people, huge value 🤘🏼

[@HerCupOfSIMPLE]

💯🙌

[@argopunk]

I worked in retail Canadian banking when I was a youngster (late 80s, early 90s). Head office always said 80% of our profit came from 20% of the customers. So most of the customers were actually a cost centre, they encouraged us not to try and convince low-balance custimers to stay if they wanted to go. Although, they nickel and dimed them, they felt they still weren't worth keeping. It's true, most of them were never going to have money, but a few became wealthy in time. Sounds like in more recent times, they've upped service charges to make it worthwhile to keep the low-balance clients. Like you, I always use no-charge online now. Free everything, including printed cheques.

[@marianhunt8899]

Only a matter of time before the online ones will start charging.

[@richardsanty9063]

You never hear of credit unions collapsing.

[@mikenoneofyourbusiness7122]

Yes, they make a fortune on rеtаrds that get stuff they don’t deserve (didn’t actually earn to pay for). It’s a risk for the banks and CUs, therefore the interest rates are high. Don’t like it, don’t borrow and live below your means, as ya should.

[@av26]

Food is medicine ❤

[@mikenoneofyourbusiness7122]

Yes

[@Christina-sf4py]

A work colleague told me her neighbour who bought the house next door which had 4 garages. But they never bought a car because they could not afford it !! So they kept asking for lifts to the shops, train stations.

[@cherylT321]

Maybe they could rent out their garage as a side hustle!

[@donaldlyons17]

@@cherylT321 How much do you really think people will pay for access to a garages?

[@cherylT321]

@@donaldlyons17 Depends on where you live and what the money situation’s like for the area!

[@donaldlyons17]

@@cherylT321 Yep 40K in parts of CA is below extreme poverty while 40K in my area is more than break even! (if a few thousand less)

[@mrsnulch]

Great points made, especially that last one about TIME! That's the trickiest one to overcome in my opinion, sometimes it feels like there aren't enough hours in the day to get out of a hole. The only one I disagree with is point 3. It doesn't matter how poor you are, anyone can find cheap healthy food (rice, pasta, beans, etc). it does take time to meal prep which is part of why people get caught up in fast food addiction. But it's still 100% your fault if you're eating fast food, regardless of your financial situation.

[@jeremyhelquist]

Next should be “Why it’s actually more expensive to be single.” Simple things like housing (same price if one or two people are in a 1 bedroom apt), groceries (sold in large packages (primarily) so food spoils or discounts only when you buy multiples), taxes, etc.

[@weird-guy]

That’s easy one paycheck one spending it, two people two paychecks, half the bill.

[@mikenoneofyourbusiness7122]

Yes, there are a lot of extra costs when you live selfishly. Your country must have kids that will pay your pension. No kids, government will invite refugees to compensate. You want to get something you don’t deserve (meaning, you didn’t actually EARN it yet), you’re stuck paying interest rates. Yes, egocentric behaviour SHOULD cost more, 💯

[@jeremyhelquist]

@@mikenoneofyourbusiness7122 wow, a lot of assumptions here. 1. Single does not mean childless. I could already have kid(s) or not be at the age for kids yet. And even if I was childless, I’m being taxed so your brood can get an public education so who’s getting something for nothing? 2. There is no pension system in the USA, it’s called Social Security that all working people pay into so it’s not just the future generation shouldering the burden. Plus, with the way it’s being handled by the government it probably won’t be around when it comes time to retire anyway. This is why so many people who speak on finance tell you to have separate retirement as they all believe that is how you will survive. Not something the government is going to reimburse.

[@weird-guy]

@@jeremyhelquist the is not the government the problem is demographic, for now the USA SS is going to be ok, but 30/40 years from now you guys are also fucked, like my country that is to top heavy. The poll is from everyone but how it works is the people working now are paying for those in retirement, so we need younger people, to pay for the current employed generation. A lot of countries offer parallel pension schemes (like a Roth) to complement SS.

[@cajunjamis9001]

CORRECT, AUSTIN! It is all about "Education"! They don't teach this "Stuff" in school!💰💰💰 Keep up the good work, My Man!

[@ElAgustin]

Thanks!

[@mikenoneofyourbusiness7122]

Government is interested in you borrowing money and getting huge interest rates. That’s how your country’s economy is moving forward. I would rather teach my kid about finance instead of choosing government propaganda with paying everything on borrowed cash with interest rates. I’m more interested in moving my family forward, not subsidizing government ideology. My family of 3 is not stuрid, we live below our means on one income. We don’t borrow and don’t self-enslave to bank’s interest rates. My interest is always zero, as I pay upfront.

[@modvccs]

3. And the foods/drinks make you more hungry

[@xo7454]

I switched to carnivore diet + salt. I eat well for less, and joint pains gone.

[@ligbzd837]

You're very wise for your age. And you explain things very well!

[@ElAgustin]

Thanks! I'm trying!

[@NJGuy1973]

The worst thing about being poor is having to live around other poor people.

[@funkyguy99]

Everything is expensive when your poor!

[@mikenoneofyourbusiness7122]

One thing isn’t expensive, self-education! It’s 💯 free! So is logical thinking. Living below your means and never getting into self-enslaving debt is obvious 😂🙄

[@winnawinna5953]

Uh, no. Min wage is like 15 dollars an hr. Wages haven't gone above 40% in 30 + years and every thing has to 160% and going. Run around, run around, run around.

[@irmelieija]

I have a friend, who is always in trouble, because they never replace or fix anything in time. She has many juicy stores to tell, but she is always broke.

[@HerCupOfSIMPLE]

This world wants us to avoid repetition and "boring" at all costs...when it's only through that we can learn and master some forgotten skills that would save us money and make us feel better about ourselves as well... We're surrounded by influences that push us to need all our wants, without seeing how poor we're becoming in terms of thinking on our own, learning through the process and all the wrongs that "cheap" creates...🌿

[@weird-guy]

People need to start to realize that KZbinrs/celebrities are glorified salesman.

[@mikenoneofyourbusiness7122]

Nobody is responsible for YOUR thoughts, feelings or actions but YOU! Stop looking for pathetic excuses amd take responsibility for your life. In your case, it starts by deleting ALL social media apps and getting to work on extra income. What are you waiting for? Stop consuming, start creating value. Let others consume, who cares.

[@danielmalinen6337]

Bro, withdrawing cash from ATM and using it costs money. At least in Europe, banks have come up with charging customers for using cash. For example, you withdraw 20 euros from your bank account and the bank charges 5 euros, you buy food with that 20 euro note and the bank charges 5 euros again. And in reality, that 20 euros was 30 euros. And at least in Finland, a 20 euro note is the smallest amount of cash you can withdraw from an ATM.

[@austinmetro6317]

Very observant one. Glad you point out the dog eat dog system.....

[@Lizbeth120]

The book Nickel and Dimed: On (Not) Getting By in America by Barbara Ehrenreich is a great book to learn more (and become more empathetic) about poverty.

[@HerCupOfSIMPLE]

Austin!!!! Awesome, awesome, awesome!!! Thanks for giving power to people! 🙌🙏

[@danicegewiss862]

Credit card debt is expensive. Pay them off. Pay cash. Stop buying stuff because you want it. But it because you need it. No you don't need that fancy car. You need a quality car that runs affordably. I was going to mention the emergency fund. We have one.

[@mikenoneofyourbusiness7122]

Why on earth would you even have debt? 😂 Good advice is to AVOID borrowing and only live below your means. Everyone gets basics of arithmetics in kindergarten, dear. “If you have 10 apples and gave 8 away, how many you have left?” How about if you have 10 apples and give 14 away? Any child will laugh at the idea of borrowing! It’s just stuрid! Who does that? 😂

[@asavannah7439]

I don't agree with your food comparison. Asparagus is an expensive vegetable. You can buy potatoes, beans, carrots, oats, bananas, apples etc very cheaply.

[@mikenoneofyourbusiness7122]

Poor people are poor mainly because of their laziness and self-entitlement. They wouldn’t move a finger to cook healthy foods from scratch, so they DESERVE poor health and obesity! 😂

[@richardbarry2140]

As having grown up working class, lived for decades poor and now, in retirement, at 60, am financially secure, I have seen the effects of financial position in many of its aspects. The worst cost in being poor is that it tends to make one believe that our environment controls us, and we are powerless. everything in our lives, good and bad, is determined either by conspirators or by chance and luck. Therefore, we tend to not make good thoughtful choices and frequently make no choice at all, fulfilling our beliefs about powerlessness. Important decisions are put off (like the tire) especially in medical and dental care. I, being from a family who came from homestead families and who did many side hustles to survive (as they are called today) taught me the importance of making my own well-thought-out decisions and believing that I was responsible for my own destiny (at least partially), along with the value of education and reading, and with frugal living habits, lead to me being able to escape poverty and now have a secure retirement financially. But many other people I have known who were poor or at least struggling financially pay the price of the powerless mindset which poverty breeds, remain poor, stressed, depressed and miserable for their whole lives. Looking back, most of my friends and acquaintances are now dead from addiction, old age, AIDS, chronic lifestyle induced diseases, suicide. The worst cost of poverty.

[@LJP415]

Yes! Eat healthy! Pay the farmer or pay the doctor!

[@mikenoneofyourbusiness7122]

I’m in Canada, we pay with taxes for the dr 😊

[@leighnage]

love your videos! I’ve been so inspired to live frugally and have been able to pay off all my credit cards!

[@mikenoneofyourbusiness7122]

Why did you even have debt?! 😂

[@Grrrrrrr123]

It’s so annoying because I don’t have or want a credit card when I hire a car as I need one I have to pay way more on the insurance

[@hanahudcova891]

All banks charge you fees in Sweden. And all salaries must go through banks. When I was young we still were paid in cash it was much better you could avoid bank fees.

[@Douglas_Gillette]

I don’t see that the system or rich executives are forcing anyone to make decisions at gunpoint.

[@markdonnelly394]

This is so true. Bounce a check and it costs $35.00 + dollars you didn’t have. See how much it costs you to get some money when you need it. They screw over the poor. Fortunately I don’t have that problem any longer. But I have in the past.

[@mikenoneofyourbusiness7122]

Why would they bounce? 😂🤦🏻‍♀️ Just keep enough on your account, it’s not rocket science! Always live below your means, ALWAYS. If you can’t, your lifestyle is incorrect and you don’t deserve it. You only deserve it if you have EARNED it. Fix your overinflated lifestyle. Yes, you may have to meal plan and cook from scratch, take a bus or move in with your parents/roommates. But you can’t live a fake lifestyle you don’t actually deserve, it costs you your entire future. Get your 💩 together and take responsibility!

[@ramonaneyrinck2292]

I needed this today!! working on my selfcare routine chart. I completely relate to the Tire thing! It happened to us in the winter..I had to put out $400 for a new set of winters. Add a new rims. And then I ran out of money couldn’t afford my life insurance so now I have lost my life insurance.😢😢

[@rayjones4951]

Your best video yet! And you’ve had some really good ones! Keep it up!

[@ElAgustin]

Thanks!!!

[@robertc.6441]

It's okay to have a credit card, just make sure you pay the balance in full every month before or on the due date at the latest and it will build your credit score a little at a time! Be very careful though.

[@weirdo1060]

Credit cards are good, but some people choose the wrong type. Even if you pay off each month, it can be wasteful if you don’t actually use the rewards.

[@weird-guy]

Most people don’t have self control to have credit cards, reward are paid by merchants

[@mikenoneofyourbusiness7122]

Obviously! Who is so stuрid that they pay interest rates?! 😂🙄🤦🏻‍♀️

[@beth3535]

I don’t take any great offers that require my cc paybacks (2 to 5%). Yes, I get that they are worth more through these offers, but my goal is to keep my spending low. I always apply the credits to my balance. I’m also coming across cash discounts (vs cc) and am going that route as well. The ccc’s fees are doing a number on small retailers, etc., well everywhere. I’m over it. Between ATMs and tracking spending in real time against my budget I’m doing my bit, however small.

[@conniesaayman5038]

Thanks Austin, always nice to get some grounded advice...

[@mikenoneofyourbusiness7122]

Kind of obvious advice, but sure…

[@fireball_55]

Money affects your quality of life!!!!!

[@freeparticle5068]

True ... Look at the banks ? ON whom they make benefits of interests ? On poor people who take credits and mortgages !

[@mooshway2000]

100% I'd add not being able to buy in bulk and in the UK paying a premium on gas and electricity (keymeter) I'm sure commentators can add a few more things to the list.

[@marianhunt8899]

Wouldn't it be a good idea to changee the 'dog eat dog' system to a more holistic one?

[@carloscardoso7042]

Another great lessons Austin thank you... Austin what about writing a book? We can compile all text from each vídeo but a book was better .. salut from Portugal

[@goosewithagibus]

I second this

[@DesertMav]

Great video today. I'm starting a new fitness and nutrition regimen and it is not cheap, but it may actually be cheaper than the prices of fast food today.

[@subhs8629]

Your channel is so simple and well presented! Very underrated channel, keep it up :) i am a financial analyst too

[@minimalistsmanaged]

Agreed :) Austin's channel is very underrated! I just stumbled across it and am now binging all his videos :D

[@ElAgustin]

haha, I appreciate it. In subscribers it might seen low, but the viewership is very loyal!

[@ellyne3863]

Great video and totally agree with you Austin!

[@pamelamonteiro9601]

Tx, your videos are empowering.

[@JaydenBrohm]

theres banks that dont charge fees?

[@davidreay5911]

That's exactly what I read in the book I mentioned, 'The Ragged Trousered Philanthropists' by Robert Tressal. So you are on the same page so to speak. Keep 'em coming.

[@minimalistsmanaged]

Ohhh what an interesting sounding book - I'm definitely adding that to my reading list now :) Thanks!

[@claudiapizanti7685]

eres muy inteligente! me gustan mucho tus videos! es un placer escucharte ! gracias!

[@marilyncobb4469]

Thanks ! This video us spot on!

[@pretzelstick320]

This is bad unrealistic advice. Almost no bank is going to allow you to open an account with 1 dollar with no fees. Using credit(responsibility) is the best way to apply for more favorable loans in the future, not to mention rewards cards.

[@donaldlyons17]

Yeah well that depends because many banks will have a service fee charged monthy..... Me personally I think the working poor are in serious trouble.

[@nvc.]

The food problem is not that healthy food is more expensive because its not, its because burgers and borritos and pizza and stake and chicken with fries just tastes better. Rice beans,chickpeas, potatoes, legumes, frutes and vegetables are the cheapest foods you can buy, people just are not used to them and don't like how they taste..

[@mikenoneofyourbusiness7122]

Poor people are usually lazy and have low IQ. So, they choose convenience and junk, ‘coz they are too lazy to cook healthy meals from scratch. They’re also not aware which foods will lead to obesity (with side effects of diabetes, heart disease, skeletal issues etc), because they’re again too lazy to educate themselves durgrade school or as adults. Same goes for finances, they want stuff they didn’t earn and don’t deserve, so they’re self-enslaving into interest rates to justify their ridiculous baseless entitlement. Poor pay more, because they deserve to!

[@lucianaloureiro487]

Excelente!!! Gracias ❤

[@mph5896]

Save your money on stuff like auto insurance as well. I self insure on the comp/collision side of my policy.

[@mikenoneofyourbusiness7122]

It’s mandatory in my country (Canada).

[@mph5896]

@@mikenoneofyourbusiness7122 Auto insurance is mandatory in most of the US as well. BUT you can choose to not have collision and comprehensive insurance. That just means if you wreck the car, insurance does not cover repairing it. About $1000 savings per year for me. Plus if you wreck, you have a deductible anywhere from $100-2000. Plus they jack up your insurance after making a claim.

[@kimpham7846]

Thanks for the video!

[@sarahfellows3074]

My body is already destroyed. Luckily I live in UK where left wing government invented the best service ever - NHS - I don't have to spend loads. I still have to buy supplements and gaviscon though and a lot on food. Trying my best to look after myself thr best I can now.

[@JoanneBurford09]

It's crazy that the US doesn't have universal healthcare, you have the NHS and we have Medicare in Australia. America is a mess 😮

[@kevinfestner6126]

100 pct agree. Just take credit cards and the interest-usary rates.

[@Peter-tk6rm]

We are ruled by Gangsters. Sun Tzu The Art of War Know thy enemy Know thyself.

[@MrJaguy30]

Thanks Austin, you are awesome 😎

[@klausnersbel8793]

Fundamental 🇧🇷

[@j.l9670]

Sooooo true! Thank you!

[@Julia-b9x]

This is a great video and SO true. I started realizing this throughout my life (thankfully as I was earning money and making good decisions) but I could never word it as well as you did here…. Very well explained.

[@dustinquinton]

They don’t take advantage of you either if you have no debt.

[@allessfyrdikaz1482]

Again, you are right! A question came up with the healthy food point, are you a vegetarian yourself? Don't let animals be killed for your food, and you do yourself a favor and the world also!

[@minimalistsmanaged]

This was a wonderful video :) Thanks for sharing - you have such words of wisdom Austin

[@TeaLightCooking]

A painful lesson but true nevertheless 😢

[@mikenoneofyourbusiness7122]

Obvious facts that you learned in kindergarten arithmetics. Seriously.

[@deniseclarke8580]

Very good video, I had never thought of it this way

[@mikenoneofyourbusiness7122]

You thought getting stuff you don’t deserve (didn’t earn) is the way?!

[@elliefeelslight5918]

I love your energy ❤

[@modvccs]

If I am saving up is a $25 hair cut too much ?

[@modvccs]

I make 15/hr

[@danicegewiss862]

Can you find a hairdresser who charges less for the same haircut? If you can, $25 is expensive. If you can't, it's about right. I cut my own hair. For me it's expensive.

[@mikenoneofyourbusiness7122]

I save $200 because I’m a girl! 😊

[@bright6200]

Love your videos

[@letitbesaid8888]

TRUE

[@andrewawood3658]

Another Awesome video will gr8 content.

[@Bremerhaven_Rocks]

My guess is that poor don't watch this channel

[@amberklein1560]

It's NOT more expensive to be poor. It's more expensive to be ignorant.

[@patatin05]

Im sure that a change of mentality like the one you preach is necessary and it will happen on a broader scale

[@donaldlyons17]

Does he ever talk the numbers as to why he does ok?

[@cristinejee]

❤

[@bewusstsein3527]

❤❤❤

[@AlexSmith-mq1tb]

As a depositor, you are an unsecured creditor. If the bank goes bust, YOU are last to get paid back. So don't think that your money is iron clad safe sitting in a bank. Not to mention the miniscule interest rates.

[@davidthomas-ot4cl]

Asparagus could be handed out free to poor people and they still wouldn't eat it.

[@mikenoneofyourbusiness7122]

Exactly! Poor people pay more, because they’re lazy, lack knowledge and want stuff they didn’t earn to pay for. Bad decisions can’t be fixed externally, and the rеtаrds should pay for their entitlement!

[@ellenroehl6022]

But, El Agustín! You are frugal because you do not have a wife to spend all of your money! 😂

[@mikeymike2256]

Concerning your "tire" metaphor, it's called "insurance" BUDDY! They tow your car for free and give you access to a replacement car, as lon as needed. EVER HEARD OF IT? Are you an Internet TROLL?

[@joycewright5386]

When I was poor I didn’t buy anything I couldn’t afford. I worked hard and saved my money until I could afford nicer things. Sometimes it takes an entire generation to get out of poverty but it is possible. This video is bull.

[@donaldlyons17]

Well it is likely nit possible without support or super good luck.

[@joycewright5386]

@@donaldlyons17 well I sadly had no support and I don’t believe in luck. It was God’s blessings that helped me.

[@donaldlyons17]

@@joycewright5386 For me blessings and luck are all part of each other. I always say stuff I can't explain must be luck because I am not special but have to have some luck to win.