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9,290,847 Views • Jan 8, 2023 • Click to toggle off description
Most of what we do with our money everyday is unconscious. In this video I share the most common bad money habits and how you can break out of them.
Investing Platform I use is Trading 212: Use the promo code NISCHA to get a free share worth up to £100: nischa.me/trading212
⌚️Timestamps:
00:00 - Intro
00:28 - Paying Yourself Last
01:53 - Bad Debt
02:31 - Buffer
03:17 - Income & Expenses
03:57 - Spending
04:48 - Saving
05:37 - Taxes
06:56 - Waiting too long to invest
07:59 - Not caring
👉🏽 My first $100k tracker (free): nischa.me/personal-finance-tracker
📝 Money Mini-Crash Course (free): nischa.me/moneycrashcourse
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KEEP IN TOUCH:
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DISCLAIMERS & DISCLOSURES
This content is for education and entertainment purposes only. Nischa does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
This description contains affiliate links that allow you to find the items mentioned in this video and support the channel at no cost to you. Nischa is a participant in the Amazon Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to www.amazon.com. Thank you for
Views : 9,290,847
Genre: Education
Date of upload: Jan 8, 2023 ^^
Rating : 4.666 (20,559/225,361 LTDR)
RYD date created : 2024-05-18T21:00:33.956555Z
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YouTube Comments - 5,629 Comments
Top Comments of this video!! :3
I grew up always being warned by my parents "live below your means". In other words, rather than buying whatever you CAN afford, instead buy items at price points a little bit lower than that. So if you can afford a $500,000 house, aim for one at $400,000 or $300,000. If you can afford a brand new $30,000 car, buy something cheaper like a $20,000 or a used vehicle. It means they you can still live a great life but you will never be stretching yourself thin and can actually build savings and invest in your future.
4.9K |
Breaking bad money habits and investing wisely reminds me of when I consciously started saving 200 box a week to starting investing. patient and persistent, I watched it grow to 3M. Seeing those small steps turn into something significant has been incredibly fulfilling
25 |
It makes good sense to automate savings. I would not automate spending, because it is a good way to lose track of what is going out
1.6K |
This beyond amazing. Whoever’s reading this hope you find success.
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i just made the “pay yourself first” switch a couple weeks ago after being desperate to save up enough to move. i realized i wasn’t gonna save anything major by just saving what’s left over. now i SPEND what’s left over. it’s harder but it’s so worth it and i’m so proud of myself
1.1K |
Those tips are helpful, but the most helpful tip is to being born in a wealthy family. Many many people are not poor because of their own bad behaviour but because it is difficult to escape the system. Having financial problems atm myself, I don't see how to safe 3-6 months of expenses if my income barely covers my costs
5.5K |
Whenever sellers say "I could offer a 6-month payment schedule", my answer is "I do not have a credit card, I buy when I have money, and I don't when I don't have it", this sentence gives me immense power and pride. However, I am bad at other aspects and have decided to correct my mistakes and start saving and investing. The video was very helpful. Thanks a lot.
3 |
So many people know these rules and still don't follow them due to a lack of patience and a desire to show off. I wish more people could focus on their wealth and happiness instead of pursuing the status game... Thanks for the content!
26 |
I’m a corporate finance professional. Over the years I’ve seen many accountants remain poor as well. Aside from better financial upstanding and literacy. The biggest factor I believe is discipline. People really struggle with it.
2K |
Finances are like nutrition. If you don’t care about it, it runs away with you and you can never get ahead and focus on the OTHER things that matter. When you care about your finances you are in essence making yourself healthier as you would by eating better, exercising or learning.
221 |
Investing resources and making good returns is not as easy as it seems, there are a lot of things that aren't well taught in schools. The market crisis gave me my first millions, when people stayed away from hard times I made the most of it..many credits goes to Sir Trevor James Beckerman
1.2K |
Hi Nischa I am a financial advisor and have recently started following you and got to say I love the content. The biggest plus was the strength you showed when you weren’t getting enough views but you kept going. Hats off
103 |
Three things i will add on.
1. Never get a credit card if you're clumpsy in financial management.
Credit card comes with financial decipline. If you are ready to decipline yourself then go head or else don't get it.
2 Avoid food which says ' Content added sugar' in super market. This single decision will keep you healthy and wealthy
3 Save for passion. Have passion for which would like to spend. This will motivate you to save. Plan your spendings.
260 |
can I also add: don't pay full price unless there's no alternative. Most stores have year round sales these days, and there are cyclical discounts such as Christmas sales, Black Friday, Summer sales etc where you can get deep discounts. It takes a bit of patience but if you wait for one of these opportunities to buy the thing you want, you can save so much (and never buy anything in a sale you wouldn't pay full price for!). There are also lots of places to buy second hand or refurbished goods that are as good as new, and many places where you can get things totally free, such as freecycle.
98 |
This was incredible an awakening I have never experience. I was in a vibrational frequency I have never experienced before . This is powerful. ❤
5 |
I love You Nischa 💖💖 Your the best financial teacher! your direct, clear, to the point, and have smart counsel for others to follow. Love your channel and this video was excellent to help me improve my finances. Thank You so much! :)
10 |
Me and my partner both worked but we have always lived on one income, saving and investing the other just in case anything happened and one of us lost our job, and so that we could retire early abroad. After 25 years of working we have retired abroad (12 yrs now) and are enjoying our life to the full. We worked hard for our money and we always make sure it works hard for us. We have never felt that we missed out on anything by trying to keep up with the latest trend - except maybe all the financial stress of being overstretched 😁
428 |
What valuable advice! Growing up with the mantra 'live below your means' is a wisdom-packed approach to financial well-being. The idea of intentionally choosing items slightly below what you can afford is a smart way to ensure financial stability and build a solid foundation for the future. It's a practical strategy that not only prevents stretching oneself thin but also opens up opportunities for savings and investments. This mindset is a timeless principle for achieving financial success and security. Thanks for sharing this insightful perspective that resonates with many seeking a balanced and sustainable financial life!
8 |
Hi Nischa - am really impressed by the clarity and honesty of your channel.
I would be interested to understand your trajectory and how many income flows you had at different life stages, income per source and future investing plans.
Thanks!
5 |
@nischa
1 year ago
👉🏽 My Intentional Spending Tracker (free) - nischa.me/intentionalspendingtracker
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