ACCOUNTANT EXPLAINS: Money Habits Keeping You Poor
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Күн бұрынThese 10 money habits might be keeping you poor. It's probably unintentional - you don't even realize that you're doing them. If you fix these bad financial habits, you can avoid being poor, and start yourself on the path to becoming rich!
Financial independence is within reach. Do you just want to save and invest for retirement? Or do you want to retire early? Master these habits, and you might be able to achieve the level of wealth that you want and deserve.
Timestamps
00:00 - Intro
00:20 - Not caring about money
01:28 - Not having financial goals
02:34 - Paying yourself last
03:38 - Spending, spending, spending
04:23 - Keeping bad debt
06:00 - Not thinking about increasing your income
07:06 - Waiting too long to invest
09:41 - Not getting the maximum employer contribution
10:13 - Being afraid to invest
11:26 - Not reducing your taxes
Your host in this video has an undergraduate degree in Economics, an MBA in finance from Cornell University, earned the CFA charter (Chartered Financial Analyst), worked as an equity research analyst at top Wall Street firms, and has been the CFO of several software companies.
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#getrich #buildwealth #financialfreedom #thewilliamleeshow #williamlee
@Riggsnic_co 5 ай бұрын
This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.
@bob.weaver72 5 ай бұрын
These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If youre not ready for it, you shouldnt be in the market business. or get you a skilled practitioner.
@martingiavarini 5 ай бұрын
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000
@TheJackCain-84 5 ай бұрын
Mind if I ask you to recommend this particular coach you using their service?
@martingiavarini 5 ай бұрын
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
@TheJackCain-84 5 ай бұрын
thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
@jeremymontanez7663 8 ай бұрын
I’ve been diligently working, saving and contributing towards financial freedom and early retirement, but the economy so far since the pandemic has eaten away most of my portfolio, what I want to know is this: Do I keep contributing to my portfolio in these unstable markets or do I look into alternative sectors.
@CharlotteRosemary- 8 ай бұрын
Just try to diversify your portfolio to other market sectors, that way your investment is balanced and you don’t get to make so much losses.
@Jonathanharper- 8 ай бұрын
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
@jeremymontanez7663 8 ай бұрын
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
@Jonathanharper- 8 ай бұрын
There are a lot of independent advisors you might look into. But I work with Lisa Ann Moberly and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
@jeremymontanez7663 8 ай бұрын
This reference seems valid.. Just looked up her full name on my browser and found her webpage no sweat, over 13 years of experience is certainly striking! very much appreciate it
@RaymondKeen. 8 ай бұрын
So much knowledge! Absolutely free! I was never taught anything about money, I am praying and working to change that. I am 46 no retirement no savings because I made a lot of mistakes when I started investing, trying to correct that now. Already have a few thousand$ saved up to invest for long term. I would like to know what advice you could give to start my investing journey. Listening to you gives me inspiration and wisdom. Thank you so much!
@hersdera 8 ай бұрын
Well, I recommend you make a diversification plan because it's been harder to build a good financial portfolio since COVID. My colleague suggested I hire an advisor. I did and I've actually made over $926K with my advisor's help during this market crash. She uses defensive strategies to protect my portfolio and make profits despite the ups and downs.
@SandraDave. 8 ай бұрын
Really? I’ve actually been looking to switch to an advisor for a while now. Just never made up my mind. Any help pointing me to who your advisor is?
@hersdera 8 ай бұрын
Sure. There are a lot of independent advisors you might look into. But I only work with ‘Margaret Johnson Arndt’. and we have been working together for nearly four years. She has since provided entry and exit points on the securities I concentrate on. She's well-grounded and known, shouldn't be a hassle finding her page.
@cb4664 8 ай бұрын
@@hersderawho and where?
@hersdera 8 ай бұрын
@@cb4664 search her on google
@TheSilvercue 8 ай бұрын
I started a very detailed spreadsheet 4 years ago to track many aspects of my finances, savings, investments etc , including targets (goals) and I can honestly say it has been life changing. I am not exaggerating. The only thing is I was late 40s when I started that spreadsheet. If you are younger and watching this, take note, you are lucky!
@mitchakako3032 8 ай бұрын
I've listened too many youtube videos like this but all i can say, this is the BEST❤ of all videos I've watched so legit and relatetable.
@stancastan8915 8 ай бұрын
Cool man, tell us more about your youtube journey, these are my favourite videos. Good luck my friend💪🏻🙏🏻
@kuhataparunks 8 ай бұрын
I appreciate how these were unique and not the typical ones. Good lsit
@travelinghuntress5725 8 ай бұрын
Not all of these will work for me now but if I work on the few, the others may fall into place later. Thanks for caring and for sharing.
@Johanna-in6yg 8 ай бұрын
Thanks for the video, really enjoyed it. Please make some more 😊
@ispty 8 ай бұрын
I think this will be a big and succesful channel. Thanks for sharing your knowledge
@twoine21 8 ай бұрын
Great video. Love the set-up. Glad i'm here early. Best of luck of your youtube journey brother
@MGTOWmademeMillionaire777 8 ай бұрын
Very nice library !!!
@mikegingles9954 8 ай бұрын
Great video, thank you so much for the information!
@stEVEN_SMARTER 8 ай бұрын
Great video, I'm already doing most of these things, but good to check I'm not missing anything.
@jmcc7886 8 ай бұрын
great list, great advice thanks
@schunkelperser1794 8 ай бұрын
Thanks for that great video!
@baileymclean8186 8 ай бұрын
Most people dream of being millionaires, but not everyone knows how to build lasting wealth. Wealth gives you freedom from waiting for delayed trains, soulless jobs, financial stress, and more. So go out there, buy your financial freedom, and enjoy life! Have a great life! Cheers! I don't think I could retire with less than $3 million in income-producing investments. I have already achieved 60% of my goal.
@glenbert1396 8 ай бұрын
Everyone needs to hear this, you need to create your own process, manage risk and stick to the plan, thick or thin, while continually learning from mistakes and improving.
@anthonyrussell5718 8 ай бұрын
"A good process" is all that is required. When I needed a good push to assist my firm stay afloat, I went to a fiduciary CFA. So I sought for financial advisors and found someone who did their homework and helped me build my reserve from $75,000 to almost $850,000 so far, despite inflation.
@anthonyrussell5718 8 ай бұрын
I started out with a CFA called "JILL MARIE CARROLL". Her honest approach gives me complete ownership and control of my position, and her rates are incredibly affordable given my ROI. However, do your due diligence before contacting a CFA.
@ianflem3717 8 ай бұрын
Thank you sir.
@thelivingroom6172 8 ай бұрын
Awesome tips. Thank you
@napoleonwilson3912 8 ай бұрын
Good video. Thank you.
@yasinros426 8 ай бұрын
Great video thanks for making this.
@MalluStyleMultiMedia 8 ай бұрын
Another excellent accountant explains video 😀👍
@hjertaker 8 ай бұрын
Great video as always. Thank you!
@TheWilliamLeeShow 8 ай бұрын
My pleasure! Thanks very much!
@zil6470 8 ай бұрын
Thank You for the video and Keep Up The Good Work!
@TheWilliamLeeShow 8 ай бұрын
Thank you, too!
@Trev_Swen 8 ай бұрын
Refreshing video. Thanks for the tips ✌
@nahedsherif5120 8 ай бұрын
great video
@markojokanovic349 8 ай бұрын
Brilliant 👏 Thank you for a simple step narrative to follow. Simplifying what many of us are pondering about
@robertcampbell6521 8 ай бұрын
As i use to say to the boys at work ' Keep more of what you make and make more of what you keep ' stop buy lunches stop eating out stop buying your wants and only buy your needs .
@Paula-yw4rx 8 ай бұрын
Thank you for all these informations also nice shirt :)
@thepiratepenguin4465 8 ай бұрын
3:41 This is something that I personally have a conflict with. I spent a lot of time & money on building & painting scale models to the point that I started to do it on a competitive level. Looking back it provided me with the opportunity to be creative & learn new things & meet new people within the community. On the the other hand, the money that have spent over the past 10 years could have easily paid for a car or deposit on a house.
@joshua_lee732 8 ай бұрын
Buy a 3d printer and make your own models? If it's 40k you can use 3d printed terrain, otherwise use OPR rules
@Pinkexplosion2023 7 ай бұрын
So well said!
@kutatm 8 ай бұрын
I had a friend who I tried to help by pointing out she had terrible spending habits. She didn’t want to hear this and ghosted me. She’d shop for groceries at Whole Foods, paid interest every month on her credit card bills, and had nothing saved for retirement. She is 62 and only makes $40k a year as a dental assistant. Your video is filled with good advice!
@VincesInHocSigno 8 ай бұрын
For you guys in your 20s (or late bloomer 30s), don't invest as much in the S&P500, but instead invest in the "S&-ME-500" i.e. get skills/knowledge and upgrade your punching power. "Don't major in minor things"
@Hippy2021 8 ай бұрын
Money is not only for essentials in life, but also for pleasures spending, like traveling, treating ourselves once in awhile a Michelin meal, buy a nice car, luxury accessories and feel great, or simply helping someone in need. It's about balance between essential needs, savings and enjoying.
@rodrigo.gibson 8 ай бұрын
Michelin meal, Nice car, and luxury accessories??? You must have a big void in your life you need to fill. God help you.
@toabettertomorrow7949 8 ай бұрын
@@rodrigo.gibsonand living on the lower end must be so fun for you. I don’t even care for those things OP mentioned but wanting them means you have a void that needs to be filled? And you don’t have a void that needs to be filled by just going to work, eating, sleeping, shitting, and repeating? You must not have a good life either.
@irvingalasraki9208 8 ай бұрын
This info is great
@donnieenfield8280 8 ай бұрын
Thank you man just thank you
@jimbomendoza3415 8 ай бұрын
Hi Sir William! Thank you for the video, I learned a lot. Would you happen to have a video that can teach us how to invest? My goal is when I retire I can rely on the investments that I made. Thank you so much in advance. God Bless you and your channel. :)
@josephmendoza3640 8 ай бұрын
This was great stuff. Keep it up brother! Found it super informative.
@tazwee7223 8 ай бұрын
Excellence advise!
@Ncccc815 8 ай бұрын
Thank you for this video Great advice wish someone told me in my 20s now I am in mid 30s and leaning about money money management This video is amazing
@joshua_lee732 8 ай бұрын
To be fair, when you were 20 would you have actually listened?
@thomasorchard 4 ай бұрын
@@joshua_lee732I wouldn't have.
@MalluStyleMultiMedia 8 ай бұрын
Good information 🔥🔥👍👍
@markboccia2433 8 ай бұрын
Car payments keep so many people poor. I’ll never be a sucker and get one again, all cash for all my purchases
@tigadirt 7 ай бұрын
I like how to tried to make all those points sound like things we would be opposed to when most of those points are things we're painfully aware we should be doing but just don't cause we're not overly disciplined or responsible.
@jasonmacaro4052 8 ай бұрын
I agree with most of these except for vacations and having fun. I have an expensive hobby i greatly enjoy and like to travel, i want to enjoy myself while i am still able to.
@annabarr1304 8 ай бұрын
Travel is my top priority! We moved about 45min out of the city and got a house half of what the bank was willing to lend us so we had have the money to travel when we want. People think the move was us living under our means but to us it was no brainer. I've visited over 60 countries and never took a trip I regretted.
@tedknudstrup6101 8 ай бұрын
Wow, what fantastic Content to position yourself for financial security.
@douglasb5046 8 ай бұрын
Never cared about toys. I drive a 16 year old Camry. Saved 75% of my income for 25 years and retired at 56 living off dividends and annuity and not even using SS yet
@arcabuz 8 ай бұрын
The long term investment only has worked for the past 15 years just because the North American market has grown exceptionally steady. But that has not been truth always. So expecting those numbers after 10-20-30 years is very risky, specially when the US government has been growing the national debt to an astronomical number. That bubble will burst sooner than later.
@loganmedia1142 8 ай бұрын
That is the problem. It's been manipulated by wealthy vested interests that make most of the money. Stock trading is mostly just moving money around. They don't produce anything. This can't possibly last and it is going to be very ugly when the whole edifice comes crashing down.
@arcabuz 8 ай бұрын
@@loganmedia1142 I am worried about the amount of KZfaqrs that promote this type of “invest and forget” strategies and/or tell us that we should not be afraid of being in the market. There is a risk of losing money for those folks like me who are not equipped with the best education on economics. I see no shortage of videos where “experts” exhort the audience to enter the market.
@sergiolandz6056 8 ай бұрын
i would go with bitcoin at this point, look at its price chart history, also not to mention its solid white paper. The way tech is advancing, cash will be a thing of the past, so you might as well get a head of the game before we do the switch, its not a matter of if but when.
@mydanshi9683 8 ай бұрын
saving a certain percentage in physical gold and silver coins will protect you if digital money, paper assets and banks collapse.
@juki3451 8 ай бұрын
Try to be debt free & don't buy into frivolous stuff. Have an emergency fund (six months to a year or so). Compound interest to build your long-term wealth & different investment strategies.
@lorrierunnals140 8 ай бұрын
Very well explained and easy to understand. Thank you!
@Ncccc815 8 ай бұрын
Brilliant 😊🎉
@brade8430 8 ай бұрын
One of the best videos on KZfaq that is simple, direct advice on how to gain wealth. My top 3. from this video: 1. Pay yourself first every month-10% of your income is invested. 2. Waiting too long to invest…start while you’re young. 3. Max out your 401k contribution for your company’s match! Do these 3 things and you just wrote your recipe on becoming financially secure for life! Thank you for making this video!
@firstnamelastname3558 8 ай бұрын
Cash is king.
@memedaddy3095 8 ай бұрын
You’re awesome!
@gravitas7583 Ай бұрын
Great tips. Thank you.
@sammyb5869 8 ай бұрын
Greatest video on you tube 😃
@JOHNSmith-pn6fj 8 ай бұрын
Sound advice.
@cb4664 8 ай бұрын
#5 I definitely live by.
@louisemarieperry 3 ай бұрын
‘All of those people who earn over £100k all started at the bottom and had to work their way up’. There are many privileges in life that some people have and some people don’t, and that makes things easier or harder for them. Unfortunately, it is easier to get richer, the richer you are, and easier to get poorer, the poorer you are. That being said some really good principles here albeit mostly relevant to the US. I am so glad that, in the uk we are taxed at pay source rather than submitting a tax return each year.
@ti1828 8 ай бұрын
uke 12:22-23: "Do not worry about your life, what you will eat, or about your body, what you will wear. For life is more than food, and the body more than clothes."
@Growing-Our-Retirement 8 ай бұрын
Thanks William! Thankfully have been doing most of these things well for many years. Now starting a new business in advance of retiring in a couple years. Trying to never hit the nest egg and it’s really not about retiring, it’s about financial independence!
@TheWilliamLeeShow 8 ай бұрын
Excellent! That's 100% right.... it's not about the money, it's about the freedom and the "no stress" lifestyle.
@johnlozauskas778 8 ай бұрын
Excellent comment!! I am of retirement age and honestly, I love to work but I HATE to commute or having to put up with young people DRAMA at work. So I have been working on my side hustle and my goal is to just work 20 hours per week at my "job" to retain the outstanding benefits we have. My only comment to this video and most people under 50 won't pay attention, is to really worry about the tax implications once you are fully retired. Our country is only going to raise taxes and if you dump your money into a 401k, you get hit hard on the back end.
@Final_Turn 2 ай бұрын
I planned to save 50% and within 15 years, I am financially free. Never had a debt !! 👉 Old age is relaxed, doing what makes me happy. Glory be to GOD 🙏 Regards,
@oldhippie8774 8 ай бұрын
Without watching the video I think you are offering financial advice, that should be number 1 on your list that makes people poor!
@testudohorsfieldii7052 8 ай бұрын
William viewer from the UK here. Can we have a video on whether we should in light of our mortgage rising when it comes to the end of its fixed term rate , ( will go from about 1.22% interest to 5 or 6 % in 2026 ) I should be putting what we save in overpaying the mortgage or investing? Am sure some of your american viewers must be in the same predicament?
@benowens9590 8 ай бұрын
Go to college they said...to get a decent paying job they said....still broke and have nothing to show for all the hard work put into those useless courses.
@AbstractM0use 8 ай бұрын
Even with a decent paying job, the cost of living keeps increasing making it less noticeable.
@bhillster 8 ай бұрын
Habits keeping me poor. 1. No pay rises with increased inflation. 2. Insurances increasing year on year. 3.Home loan rates increasing due to inflation. 4.Periodic tax increases. 5. Companies increasing prices to boost profits. 6. Countries being idiots and declaring war. 7. Cost of fuel/gas increasing year on year. 8. Cost of groceries increasing year on year. 9. Internet scammers selling products and not delivering. 10. Useless, over charging accountants who are unable to give you information on how to minimise tax burden.
@felucca 8 ай бұрын
Yeah it's rough right now, sorry to hear you're having a hard time. I'd say the one thing on your list that you can avoid is buying things online from shady sources - only buy from sources you really trust, and when it comes to certain things (ALL electronics) you always buy them from a physical store so you can easily bring products back and complain. That one rule has saved me a lot of angst and anger and money over the years, trust me, it's not worth the lower price of ordering electronics online to miss out on in-person customer service.
@robertmaric5228 8 ай бұрын
Well said! Governments can spend like drunken sailors but we're expected to "tighten our belts". 😂 Any money saved now will have lost its purchasing power tomorrow.
@BuddhaSunn 8 ай бұрын
I hear you brother
@laine8096 8 ай бұрын
#1 on your list should be your victim mentality.
@Himothy704 8 ай бұрын
Zero Accountability 😂
@bustermaxey2977 8 ай бұрын
Not Giving to the poor will keep you poor its in proverbs
@loganmedia1142 8 ай бұрын
The Bible actually has a number of criticisms of money and the rich. I suppose the parts about not worshipping money get lost when people would rather obsess over the bits that they use to justify discriminating against homosexuals and hitting children.
@fiambangelizabeth948 Ай бұрын
Awesome advice
@TheWilliamLeeShow Ай бұрын
Glad you liked it
@FinGrear 8 ай бұрын
I didn't become financially independent till I was 40 ,in addition to buying my second house, I'm also making money on a monthly basis through passive income, and I've also met some of my goals. I really hope this motivates someone to know that it doesn't matter if you don't have any of these things yet; no matter your age, you can start today. Investing can help you change your future! By participating in the financial market, I took a significant decision.
@WinnyDek 8 ай бұрын
I have been on the financial market for a while now but it seems like I'm unlucky how did you make it so well
@FinGrear 8 ай бұрын
Generally, investing requires higher knowledge. For this reason, it's important to have a solid support structure to guide you through especially in asset picking. I operate with (Alex martin tarlor) an investment specialist who partners with a licensed wealth management firm. For the record, his experience has been the best for my finance
@quin5155 8 ай бұрын
Wow I'm surprised you know Alex Martin Tarlor, he has been my financial advisor for over a year now and I have been receiving large payouts monthly through his strategic plans
@WinnyDek 8 ай бұрын
Pls how can I contact Alex martin tarlor?
@WinnyDek 8 ай бұрын
Thanks fin, I just googled him up and made contact
@frenchfruga4851 8 ай бұрын
Good evening from south of France , totally agree about this video at 100% , by using this process , i live alone as a single man without family , last year i closed the reimbursement of my apartment bought in 2014 , thanks to my savings on transport-food-accomodation I earn 1600 euros and spend 300 euros pet month , i can invest now in stock market and real estates , we can achieve great things even we're alone , congrats to your journey 😉
@erickvarela2777 8 ай бұрын
This guys makes sense! New Subscriber!
@TheRealDrJoey 8 ай бұрын
"Investing" and "saving" are not the same thing.
@EricDavidFloyd 8 ай бұрын
get a good job - live within your "proper" budget - get rid of friends. That will get you 95% there
@coltonwilliams1565 8 ай бұрын
if you are young, your primary focus should be increasing your income as far as you reasonable can by switching jobs, learning new skills etc i went from 40k first job out of college to 140k in 5 years. If i stayed at that first job though, wouldn’t have happened
@rosenasser5943 8 ай бұрын
I might add one big thing to this topic! The thing is Patience! Patience is key to making money over the long term. In long term investing it can be very discouraging and trying when the market is going through periods of down turns. And there will always be periods of down turns. And it can be rough seeing your portfolios value being cut down in a major way month to month during bear markets and corrections/crashes. The 8 - 10% average return on a stock market index fund is an AVERAGE! And I don't think that can be stressed enough. There will be down years and flat years along the way. You will NOT make 8 - 10% every year like clockwork. Look at 1973, 1974, 1987, 2000, 2001, 2002, 2008, 2020, 2022 and probably 2024.
@arcabuz 8 ай бұрын
But what if that period of down market spans over 10 or 20 years (which already happened in the past)?, is that worth the patience?
@rosenasser5943 8 ай бұрын
@@arcabuz Then your "patience" will be renamd "long suffering". You'll have to decide that for yourself. But your age and future time frame have a lot to do with such a decision. The older you get the more conservative your investments should be for safety just in case some bad circumstance or unforeseen situation happens. Look how long it took the stock market to regain its high from 1929 after the crash and depression. It took a generation before it reached that level again.
@arcabuz 8 ай бұрын
@@rosenasser5943 then I am a little bit in trouble since I am 43 years old and started investing just last year
@loganmedia1142 8 ай бұрын
I'd say returns on the market have been unreasonably high for an extended period. Unfortunately people have come to expect those returns over the long term, but to me it isn't sustainable over any term.
@anngeisheimer 8 ай бұрын
I do a lot of this but my rent has tripled in the last five years since I live in a state where this is happening so I get discouraged.
@TheWilliamLeeShow 8 ай бұрын
It's hard, but don't get discouraged. There's an expression that (approximately) says don't worry about about getting results in the short-term, focus on working the process, because over the long term following the process (probably) gets the desired results. That's not to say "don't fix what's not working", just that the power comes from following the process.
@zuzanidumile8984 8 ай бұрын
Just tracked my spending 😢 it's a disaster
@WealthPlace 8 ай бұрын
"Wow, these money habits are so relatable! Time to break free and make some positive financial changes. Thanks for the eye-opening breakdown, Accountant!" 💸📈
@swingarmer 8 ай бұрын
Be like the real happy misers and hang onto every shekel and totally invest your mind into the material. Truly believe that is all there is. You will be happy for a time, until you are not. Good luck on your journey!
@acreguy3156 8 ай бұрын
Great advice, sir. I use one of the best financial planners in our area and have averaged 5-6% per year over the last 15 years. We have a 70/30 split of equities versus fixed. We also have a fair amount invested in the US markets. Please give me the name of the firm where I can average 8-10%, as you specified. Greetings from Canada.
@JOHNSmith-pn6fj 8 ай бұрын
Index funds or ETFs. You might benefit from reading up on Index funds and Index ETFs. They are a boring investment, but they do produce results.
@acreguy3156 8 ай бұрын
@@JOHNSmith-pn6fj Okay, many thanks John :)!
@theshadowman1398 8 ай бұрын
The only credit card I have is a prepaid credit card that I top up when I need to order something when credit card is required. No debt or interest payments
@olivierkoers1780 8 ай бұрын
Thank you for this great advise. It schould be default to all of us. It is to me. Maybe because I’m Dutch😂.
@On-Money 8 ай бұрын
I absolutely LOVE your content but it does bother me seeing people jumping on the 'ACCOUNTANT EXPLAINS' trend when they're not accountants (ACA or CPA qualified).... I see a lot of people that are in the business/finance space claim this when they are bankers or in corporate finance. I'm pretty sure yourself and others would not feel anywhere near comfortable claiming you're an accountant on LinkedIn or on a resume, just like I wouldn't feel right claiming I'm a financial analyst without having the CFA, so it just feels a little wrong that so many people feel like they can throw this on their titles and mislead their audiences. With that being said, you have such an incredible wealth of knowledge and experience as a CFO that I (and I'm sure many others) would be far more inclined to click if it was 'CFO Explains' not to mention it would be factual!
@PoorCoyotee 8 ай бұрын
Really the easiest 2 steps that helped me is to think twice "do i need this/do i really need this asap" and opening another bank account that doesn't have a card linked to it. Its easier to spend stupidly when you got 10-20k lying around ready to go rather than having like 500-800 or what ever you think will make to next month.
@williamswetnam4070 8 ай бұрын
I wish that I could have learned this from my parents, but unfortunately my parents had no clue how to manage money. So yeah, I grew up poor.
@rhymereason3449 8 ай бұрын
I don't think that's a valid excuse. The book stores and public libraries are filled with books on personal finance - even 40 years ago. And many community colleges had continuing education personal finance courses at night - I took one at 19 years old... one of the first things I did when I got out on my own.
@kap849 8 ай бұрын
Believe it or not, many people learn these things along the way. My parents weren't the best with money either and one of my siblings learnt about money and retired at 55! I'm just starting to implement these lessons in my 30s and I'm glad I'm starting now rather than later.
@GorgieClarissa 8 ай бұрын
everyone talks about investing.... but i did that... with college... and that ending up turing into a complete and utter failure for millions of americans. i also have money invested in a roth ira... and i've been doing that for years... but while it's gained interest over the years, it's been quite minimal and i barely see it grow
@mrMacGoover 8 ай бұрын
Is it possible to live on 1/3 and save 2/3rds?
@PatrickLloyd- 8 ай бұрын
Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.
@TheWilliamLeeShow 7 ай бұрын
Excellent, exactly right! Thanks
@patriciaevans2301 8 ай бұрын
The way you describe investments is not initially true. Interest and stocks never stay the same. Throughout life can dramatically change. When I was just 26 years old I took a private pension, which I was told at 60 my pension would grow at 12% pa for all those years ill🎉never worry about money. With 350,000 in my pot. Well now that I'm 😢60 the pot is nothing like that because of life's economy ups and downs.
@mariapalacio7634 2 ай бұрын
Unfortunately, they don’t do that two month payment anymore. It has to be one full amount so what is my option? Right now, I don’t know how old this video is, but yeah, I was thinking the same thing but I try to split my payments and it wasn’t allowed. Any ideas?
@kimwieczorek1879 7 ай бұрын
How do hubby and I invest? Were 65/58 on a budget. Ty
@c.j.howard2857 8 ай бұрын
#7. What exactly do I invest in? I always here about investing but I have no idea where to actually put that money.
@chrisgibbs1615 8 ай бұрын
Being tight with money is the worst mind set you can have. you end up not having the things you want, I'm poor and always will be but I've had a fantastic life of nice holidays and nice things that has given me satisfaction. When I buy something I buy the best quality I can even if it is expensive so it lasts. I work hard in a job I enjoy so spending money is not a problem to me. I once said to some one I know who is tight, works 7 days a week and has denied them selves nice things I hope you can look back and say it was worth the effort to get all that money for some one else to enjoy.
@Vankel83 8 ай бұрын
Taxes: We seem to pay way too much in taxes. Just for the state you live and federal government to hand it out.
@sherrytok2501 8 ай бұрын
Fortunate n grateful staying in singapore as my flat fully paid, my home furniture used for above 25 years, still usin,,g, retired at 68,no children, widower, got medisave for hospital, also aloned work partime job, some invrstm investment, travel more than 45 countries, often cook at home....🙏🇸🇬💕
@CP-zu5pi 8 ай бұрын
On the contrary, i dont care about money beyond its utility. Obsessing over money will make you extremely unhappy and a horrible person to be around. Life is so much more than a paycheck.
@Stevesguitartraveling777 8 ай бұрын
Caffeine alone adds up overtime. I have a bad habit of energy drinks that I just can’t stop drinking and when I track of how much I spend in a month it runs up to $80. My father died a year and a half ago we had a life insurance check of $400.000 and in less than a year it was all gone because the person spent it all on useless things and doesn’t know what they order with packages everyday.
@codelessunlimited7701 8 ай бұрын
Average home prices is $440K. The inflation is making everyone rich. Unfortunately, no one's selling it.
@loganmedia1142 8 ай бұрын
That's not wealth though, because you need the house to live in.
@codelessunlimited7701 8 ай бұрын
@@loganmedia1142 Inflation doesn't equate wealth.
@surf12fd Ай бұрын
The habits keeping me poor are, wages are to low, tax is too high , rent is too expensive and the vile corporations putting up their prices and not lowering them when inflation goes down, and I’m suppose to be the one doing something different……
@mrt8165 8 ай бұрын
Not having demands on life. No car Cheap apartment No hobbys No GF/BF Home office I know some people with that lifestyle, they maybe earn less than me but can save up a lot
@arnody 8 ай бұрын
nice 100
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