How To Make Better Decisions With Money In 2024

No video

How To Make Better Decisions With Money In 2024

Рет қаралды 17,532

Күн бұрын

Why is it so hard to make good financial decisions, yet so easy to make bad decisions? In this video, I explain why and how to change it.
If you would like to support my channel!: www.buymeacoff...
Mint Mobile (save on your cell phone): mint-mobile.58...
Chapters
00:00 Start Here
01:13 Step 1: Stop Viewing Your Future Self As A Stranger
02:53 Step 2: Start Viewing Your Future Self Like Your Child
04:01 Step 3: Hold Yourself Responsible For Your Future Self
05:32 Step 4: Consciously Be Aware Of Who Your Decisions Are Impacting
07:12 Step 5: Don’t Lives In Extremes
08:02 Step 6: Imagine Being In Your Future Self’s Shoes
Many people struggle with making good financial decisions and end up putting their future self in a bad spot. The reason it's so hard to make good decisions with money is because we prioritize the present over the future. In this video, I explain how we can change our view on the future in order to make better financial decisions.
Step 1: Stop Viewing Your Future Self As A Stranger
The reason it is hard to make good decisions in life is because we view our future self as a stranger and have trouble comprehending that when we are making decisions like saving money or setting aside money for retirement, we are the one who is receiving the reward. In order to make better decisions with money, the first step you must take is to stop viewing your future self as a stranger.
Step 2: Start Viewing Your Future Self Like Your Child
Instead of viewing your future self as a stranger, you should start viewing them as your child that you are responsible for taking care of. When you view your future self as a child, you are more likely to want to take care of then.
Step 3: Hold Yourself Responsible For Your Future Self
Once you start viewing your future self as your child, the next thing you need to do is to hold yourself responsible for your future self. Make financial decisions that don't end up causing you harm in the future.
Step 4: Consciously Be Aware Of Who Your Decisions Are Impacting
Next, whenever you make financial decisions, be aware of who they are impacting whether that is your present or future self and whether the impact is positive, negative, or neutral. Make sure that all of your decisions are just benefiting your present day self.
Step 5: Don’t Lives In Extremes
Although it is important to make decisions that positively impact your future self, it is also important to make sure you don't only make good decisions for your future self and deprive your present day self. Life is about having a balance and not living in extremes.
Step 6: Imagine Being In Your Future Self’s Shoes
Finally, whenever you make a financial decision in life, it helps to imagine how your future self would respond to the decisions you are making.
**Links above are affiliate links where if you click and order, I will receive a commission at no cost to you. **

Пікірлер: 126

@MaryWestwood-cw4gz 7 ай бұрын

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains.

@mitchellerashica 7 ай бұрын

Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields

@KarenOpenda 7 ай бұрын

Amazing. It gets quite difficult to handle all of this, and staying informed is a major cause, how do you go about this are you a pro investor?

@mitchellerashica 7 ай бұрын

I have been in touch with a Financial advisor. With a startup of $ 100 k, my advisor chooses the entry command of my portfolio which has grown to approximately $ 450 k in some weeks.

@leongrant7439 7 ай бұрын

I’m intrigued by your progress. Could you share some insights into your trading strategy or perhaps recommend any specific resources or mentors that have led to your success.

@mitchellerashica 7 ай бұрын

I have been consulting with;

@vilandra. 7 ай бұрын

my parents died before they retired. I have no children and I am now older than my father was, but younger than my mother was. It's hard to prioritize your future if you're not sure there will be one.

@danicegewiss862 7 ай бұрын

I hate debt. It's far too stressful. So we got rid of it. Now we put money aside in different categories and in stocks. We live well, but way under our means. Our future selves will thank us for watching our dollars and investing.

@turtleanton6539 7 ай бұрын

Yes

@daodejing81 7 ай бұрын

Excellent, I agree. Live below your means, and save!

@gen6249 7 ай бұрын

I think the problem is the mentality that how long will we even be here for, I mean we could be dead tomorrow so enjoy life today…what if there is no future self 🤔 rather fatalistic I know but I think that’s why people spend today, good vid 👍💕

@alecherkas9633 7 ай бұрын

I’m so grateful to you, Austin, that you have opened my eyes, literally. Water, food, shelter-that is really enough, and all I really want above that- is travelling and saving. As I already have all that I need for life, I simply deleted all the shopping apps. It has been nearly a month of a truly frugal life and I even talked my husband into refusing to exchange gifts this New Year.( We live in Russia) And I like my life now so much more, we don’t spend money on anything but food and also started investing. Some people may say that spending in food only seemed super boring-but no, our entertainment doesn’t demand much. Painting, reading, watching films and cartoons,vr games, doing sport, going to russian bania and swimming pool nearby-that is so cool. And the outcome is that we’re going on a trip in some months if we keep saving like that ^_^

@turtleanton6539 7 ай бұрын

Yes

@snapdragon2441 7 ай бұрын

I don’t find money management hard, I actually really enjoy budgeting, tracking spending etc.

@kap849 7 ай бұрын

I really enjoy it too. I just wish I had known this in my 20s. It makes life less stressful.

@James_36 7 ай бұрын

any advice for someone who feels the need to consume to fit in? not be mocked and go on foreign holidays which I have figured out are a total wealth crusher?

@snapdragon2441 7 ай бұрын

@@James_36 Hi James, believe it or not I have never fitted in either. It can be a lonely existence and yes very tempting to spend money we may not have in order to look like part of the in crew. Does spending the extra money fix the problem? Probably not and you may find there are other in your friend group who are struggling financially too. Why not suggest you do a finance challenge together to save up for the next big event.

@James_36 7 ай бұрын

@@snapdragon2441 ⁠hey, everyone I know is trying to act like big shots mostly barring a few exceptions- family look at foreign holidays as a must and judge me badly for saying they are a rip off and I don’t enjoy them as much as the price I pay. I know I get talked about behind my back for it, even make out like I am a bad dad almost for it. Not gonna lie it gets to me

@KailinruAdao 7 ай бұрын

I am a single mom, I've been thinking about investing going into 2024. I'm starting a business and am about to be financially stable enough to start putting money into the market. My biggest question before I get started is: How do I know if the stock market is too high right now so should I wait for a downturn before investing? Or what type of stocks (ETF, Index Funds, Penny Stocks, High Yield Dividends) should I buy at different turns in the market?

@ElAgustin 7 ай бұрын

I personally invest in index funds because they're really simple. I made a video a while back about how to invest in them. I "dollar cost average" meaning I buy regularly no matter how the market is doing. And I don't concern myself with day to day stuff!! It's good to do research on a variety of different opinions and decide what is best for you as different things make sense for different people!! There's a good book called, "The Simple Path To Wealth," by JL Collins that I'd recommend reading or listening to the audio book!

@ArchieLatham502 7 ай бұрын

Its unclear which stocks and sectors will lead the market in the next uptrend. It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.

@Edgardo477 7 ай бұрын

Excellent info. My problem is when it starts dropping I think it's going to keep dropping for awhile and I wait so I can get the best deal. Next thing I know, it's back up again. I'm retired so don't have as much time but don't need the money for at least ten years or so. Gets tricky for me

@KailinruAdao 7 ай бұрын

@sammyphon Thanks a lot🙏 i really appreciate. Was amazing speaking with Martha

@mondoraj 7 ай бұрын

This some of the best advice EVER! Y’all better pay attention and do this to prevent a world of hurt later.

@ElAgustin 7 ай бұрын

Thanks!!

@heidi5452 7 ай бұрын

It's so true! When I save money, I do feel like I'm giving it to a stranger. I continue to save regardless of how I feel but I feel like I will be surprised when I see the money I've saved like that's mine?!

@marianelaballerina2295 7 ай бұрын

At some point in your 20's, it is ideal to transform from "I am me and I have parents" to "I am my parent," by absorbing and becoming the good qualities your parents had toward you, and developing qualities you wish they had had. Once I became my parent, I gradually learned to take care of myself, first emotionally and finally now, financially. Gracias, Agustín!

@nicolletelangdon2694 7 ай бұрын

The real issue here is that we were told a HUGE lie, that we have time... time stops for no one, regardless of whether you take action or not. The sand continues to drop in your hourglass until you're buried. One day your graduating high school in your late teens, the next thing you know, it's almost been 30 years since you graduated high school.Unfortunately, many people like to live like it's their last day, or use the excuse they only live once(unless you believe in reincarnation). The issue of saving on certain things is beyond our grip sometimes. Even if you want a "small" house that is about 1500 square feet or less, there almost impossible to find this day. They're not being built. I was told to buy a 3 bedroom house because they sell better than two bedrooms(20 years ago). Yet here I am, 45, no husband, no children maintaining a 1500 square foot, 3 bedroom, 2 bathroom, 1 car garage home. I don't regret buying my house, but many times I do think I should have bought something smaller, specially when I'm cleaning or doing yard work. The yard itself is about a third of an acre.

@TPayne-fm8ie 7 ай бұрын

Another great video, Austin! I'm of the age where my future self has landed on my doorstep and smacked me in the knees (literally they really hurt). I really like the part about balance. If I could do it over again, I'd have a smaller house and have worked less. Best Wishes for a wonderful 2024.

@eugenemarsha 7 ай бұрын

THE SUCCESS BEHIND EVERY RICH PERSON TODAY IS THE DECISION THEY MADE FOR THEMSELVES, I'm so happy with a good investment, I'm able to acquire my third house recently even as a single mom at 41 and I believe if things keep going well I would retire early

@Huang265 7 ай бұрын

Wow, that's nice! But how did you manage achieve all that even with the current economy that's very bad? Please i'll appreciate your assistance on how to go about it, I'm desperately looking for a way to pay up my debts and also achieve my goals ❤️

@Benjamin.365 7 ай бұрын

The truth is that, with this recent economy everyone needs more than their salary to be financially stable. The best thing is to do with your money is to invest it right because money left for savings always ends up used with no returns 👌

@jomeyrfrancis 7 ай бұрын

Her method Surprises me. When I saw testimonies all over the place I thought it was made up stories till I was convinced and gave it a try and honestly I don't regret the move I made because I invested in a big way

@himedft 7 ай бұрын

The mighty Mrs Sophia wow, so she know for his good work this much.... Such a phenomenal woman that helped many people grow up financially.

@gabrielada 7 ай бұрын

My cousin once recommended her to me after trading and she helped us financially in time of difficulties here in Australia 🇦🇺

@Luncheon23 7 ай бұрын

Happy New Year Agustin! Your videos are part of the content I most look forward to on KZfaq. Here's to a great 2024 with more useful and relevant explainers from your channel!

@ElAgustin 7 ай бұрын

Thanks!!!!!

@Rayaelle 7 ай бұрын

Since I am quite frugal with my money, step 5 is a nice reminder for me. Great advice, overall! :)

@naimahabdullah-gulley4405 7 ай бұрын

Very good advice. Once people begin to shift their way of thinking, they can successfully put the wheels into motion.

@RetireandGo 7 ай бұрын

Very true The desire to live debt free The desire to move to lower cost places to live

@ElAgustin 7 ай бұрын

True!!

@KINGTHEYORKIE 7 ай бұрын

I was about to say the same we do prioritize the present and not the future. Something that helped me was remembering when I was 20 and how strange I felt saving money so I didn’t I made it to 30 same feeling but now I know that just incase I make it to 40 how I want my acc to look like 😂 This was great ❤

@lyndalou2892 7 ай бұрын

Agustin ! Thank you for these funny and wisdom-filled videos !!!! Please keep making them ! You are young -- but you are an OLD SOUL !!! 🦄🦄🦄

@ElAgustin 7 ай бұрын

Thanks!!

@dominicleong4385 7 ай бұрын

My advice to everyone is this : if you want to grow big this year especially in your finances. Be willing to take risks. Saving is great but taking risks puts you on a pedestal where you wouldnt have to worry about savings as you do now. Thanks to larysa Caba, my portolio is doing really great and im proud of the decisions i made last year.

@oliviani7393 7 ай бұрын

I feel one Of the greatest challenges that we first timers face in the ma rket is that we end up losing all we have,making it difficult to find ourselves back to our feet. My biggest advice is to always seek the services of a professional just like I did when I ventured into it for the first time. Big thanks to Larysa Caba. I now make huge profits by weekly through her services while still learning to stand on my own.

@jasperflontes4289 7 ай бұрын

I have never seen a trader as open and transparent as Larysa Caba with her clients. The way she decides to make a profit for her clients. she allows you to express your fears and she still rests your fears and that is my respect. I don't normally comment on videos, but this word should be included. she is really cool.

@annddyyy-6920 7 ай бұрын

I think she trades for everyone I meet. I met her twice at a meeting in Germany and after her lectures from Ella I had to personally ask her to be my financial advisor. she is definitely good.

@fredrickalfarez6875 7 ай бұрын

I just looked up her name online. she is licensed with credible certificates and has an amazing track record. Thank you for the message.

@ivarlast2966 7 ай бұрын

How do I know more?

@juliem.3936 7 ай бұрын

I think it's more of living in the present and seeing ourselves as old as far away, not necessarily a stranger. Part of a present view is not getting good financial advice growing up or in educational settings. I was taught to get an education, get a good job and save money for a "rainy day". Nothing about retirement savings early on, only when getting older and approaching retirement was there advice about paying off the mortgage and creating a retirement "nest egg".

@MFox-tu2co 7 ай бұрын

Love your quality book reviews ❤

@Peter-wc7dg 7 ай бұрын

Thank you Agustin! This was an interesting video. I have certainly fallen prey to this type of thinking and am trying to fix it later in life. It is also interesting to balance life experiences living in poverty myself ($50 per week for food and other expenses after bills are paid), spending part of my life earning 6 figures and living paycheque to paycheque, as well as seeing true poverty in South America with mendigos or sem tetos searching for food in people's rubbish bins (that also include used toilet paper) [alongside relatively incredibly wealthy people living not too far away]. It certainly puts things into perspective. I find your videos very informative and your manner very engaging.

@Katherine_xs 7 ай бұрын

I believe one of the things that makes me such a good responsible spender is my ability to Self-Control. I practiced it in many ways in my teen years and it made me very disciplined. I stopped drinking totally a few months ago because it was taking money off my saving goal and I learned to only spend maximum 50$ on groceries every 2 weeks! I think thats the key to being a good frugal/minimalist😊

@madiel940 7 ай бұрын

Good job bro , nice Spanish at the end 😊

@Revert2017 7 ай бұрын

Happy New Year! Thank you for this point of view. After watching it, I chose an apple rather than a cookie. This mind set works on many fronts.

@marilyncobb4469 7 ай бұрын

Happy new year my friend! Thanks for your videos. They have helped me last year. Here again for another thought provoking year 2024 🎉

@rozitaharun6979 7 ай бұрын

Thank you for such wise advise. So realistic to think about the future! It is such a great idea to think forward for your children!These ideas ,suggestions,recommendations are so helpful. Great foresight!

@eizqarqash1991 7 ай бұрын

This video was sure different from all the other content related to frugality, yet very informative. Thank you so much and hope you had an easy move.

@RetireandGo 7 ай бұрын

Nice variations in topics coming this year I think A great year ahead

@ElAgustin 7 ай бұрын

Thanks! Just arrived last night!! The apartment hunt will begin shortly. I'm covered with videos for another week, haha!

@ernieroberts56 7 ай бұрын

One of your best!

@voiceofomiej7722 6 ай бұрын

You are the smartest man I meet in this and past Year

@theherdsmansjourney831 7 ай бұрын

I believe in frugality

@jmcampbell05 7 ай бұрын

YOU DID IT AGAIN-- CRUSHED IT!!!

@alanward992 7 ай бұрын

Another great video! Have a great 2024 and keep the videos coming!

@shaunaleessnackidies 4 ай бұрын

Very well said, good points! I think you meant to say live not lives on the extremes slide ❤

@rocioocampo8735 7 ай бұрын

Happy New Year! Keep the videos coming 🎉my future self thanks you 😊

@fueledbymusic3 7 ай бұрын

One way... Dont buy a brand new car. Stick with that paid for car you have already

@EspressoLaine 7 ай бұрын

Do you have or would you consider a podcast?? I just discovered your channel recently and I’m a heavy Spotify user but not on KZfaq as much, but this is the kind of content I would love to listen to!!!

@robertwilliam2618 7 ай бұрын

Great videos. I am much older than you. But, I really enjoy your videos and learn new things from them. I wish I had practiced some of these things when I was younger. I am the future self. LOL. Thanks

@MrGilperc 7 ай бұрын

This video really gave me a lot of things to think about. Thank you for expanding my mind!

@ElAgustin 7 ай бұрын

It gave me a lot to think about too!!!

@MrGilperc 7 ай бұрын

@@ElAgustin S A V E D !!

@katherinepace7369 7 ай бұрын

Interesting food for thought Austin. I will start consulting my future self to see how she may weigh in on my current decisions. Happy New Year!

@aaronaustrie 7 ай бұрын

Well said!

@GET_YOUTUBE_VIEWS_m021 7 ай бұрын

You have such a great sense of humor, I always laugh out loud watching your videos.

@kerryhaliburton4650 7 ай бұрын

I really enjoy your videos Austin- thank you!

@heatherelliott5944 7 ай бұрын

That was really excellent!!!

@daviddean6032 7 ай бұрын

Another super video! Cheers Austin!

@CrossFitterinRealtime2359 7 ай бұрын

Greetings from Ireland Dear Agustin, Happy new year 2024

@ElAgustin 7 ай бұрын

Happy New Year!

@bthomas50 7 ай бұрын

Love your content.

@ElAgustin 7 ай бұрын

Glad you enjoy it!

@TravelingDan20 7 ай бұрын

Last 2 vids i needed🔥👍🏻

@ElAgustin 7 ай бұрын

I'm glad! I'm a mind reader!

@jered2177 7 ай бұрын

Another good video thanks

@MyFirstHandle 7 ай бұрын

Austin, have you mean old people who are childless? You can hear advice to stay happy if you never had kids. I met them but I wasn't able to talk to them about what's like having no kids in the near end of their lives.

@Rockerlady 7 ай бұрын

Can you make a video on how to start in the stock market?

@duanekaaz3159 7 ай бұрын

I thought I could save money 💰 with a roommate. Biggest mistake of my Life.

@vera.390 7 ай бұрын

Could you explain why? I’m considering getting a roommate to save money as well, so I’m very curious about your experiences

@ashleyl7016 7 ай бұрын

I have heard this. Probably seeing your bank account higher, thinking “you have money to spend” instead of putting in a separate account and keeping a lower balance. If you don’t get a roommate that has the same mindset as you, you will spend all your money “having fun”

@duanekaaz3159 7 ай бұрын

@@ashleyl7016 Tis True 👍.

@Fitmom312 7 ай бұрын

I'd guess because the roommate was inconsiderate. I've had my fair share.

@duanekaaz3159 7 ай бұрын

@vera.390 Depends. You Don't know people's habits. Until they move in.

@SundriedStars19 7 ай бұрын

Love your videos Austin! I've been subscribed for a while but rarely comment. However, just wanted to give you a bit of feedback. I've felt like some of the dialogue in your more recent videos feel a little repetitive to me. Like in this video, I feel like you repeated the fact that "we view our future selves as strangers" quite a lot in the beginning, to where it felt like a bit much. That's just one example, as this feedback spans more than just this video. Just wanted to point it out. Like I said, I really enjoy your videos! I only give this criticism to help, as someone who has viewed (binge watched lol) quite a few of your videos.

@kimwieczorek1879 7 ай бұрын

Yep

@theoriginalDAL357 7 ай бұрын

I prefer to not live in the present or the future, but in the past. 😂 Way back when things were perfect.🙄

@Rocky_Anunnaki 7 ай бұрын

Gold.

@NaturalDrAmanda 7 ай бұрын

Great content and visuals. Thanks! 😊 The Budgetnista, Tiffany Aliche, recommends something similar and gave her future self a name. I’ve done the same! This is also quite effective.

@jmcampbell05 7 ай бұрын

IT MAY BE THAT WE CAN'T BE STRICT WITH OURSELVES IN THE PRESENT BECAUSE WE HAVE TROUBLE ACCEPTING THAT LIFE IS TRULY THIS DEMANDING AND TOUGH.

@kallistoindrani5689 7 ай бұрын

👍👍👍👍👍👍👍👍

@turtleanton6539 7 ай бұрын

Reporting bots

@carlosvision360 7 ай бұрын

Hey Agusting, como estas? no se si te acuerdas de mi que te pedi una entrevista para mi cal. Me gusta showcase emprendedores que influyen positivamente con la comunidad. como vivo en Canada, te podría hacer una video llamada. Me avisas de tu tiempo disponible. Yo trabajo pero podemos hacer un tiempo para eso. Estoy en WhatsApp.