Terrible first sentence. Was gonna follow but can't now. Speaking negativity into existence with your opening statement is crazy.

Your dad is a wise man

@@yaofangzhu8798 Indeed he is!

yes there is always problems that can be solved. and most of times you have to approach others for help, cannot make it yourself. so at the end it is people skills that is going to make you successful.

@@KaushikBala333 agreed :)

appliance and hvac repair baby

Living below your means will keep you out of financial ruin, but it won't make you rich.

Same here man, it's just another Tuesday.

@@conchobar i alway live below my means, i know how to manage my money and work 2 jobs 1 job 100% full in invesment, 1 job 30% for billing 10% for IRA, 30% saving 30% spending. currently my dividend invesment enough to cover my entire year expense. so the job 1 which i contribute 100% is putting into grown ETF investment and mutal fund.

@@conchobar not trying to be rich, but it's these types of disciplines that allow you to keep more of what you earn.

My frugal immigrant parents fully paid off the mortgage on their house in exactly 5 years, 6 months, minus 2 days....in the '80s. Sure, detached homes were much cheaper back then but their annual incomes were also lower so that's still an accomplishment in my opinion.

Thanks for sharing mike and Matty :)

lmao same!

My parents are the same only thing we cant agree on is cars. There is no need to buy a new car when a car couple of years older does the exact same thing and has the same tech. The amount of money that I hear college students spending on cars especially in this crazy market makes me sad inside. Honda/Toyota is still king.

And after the shirts have holes you can use them to clean the house etc. Most people are still like this. :)

@@aai343 better to put some of that money back into the car to make sure it lasts. For a lot less than a new one you could basically have a new car.

welcome to the family james!

Exactly. Instead of "I can't afford it" I often find myself thinking "that really isn't going to bring me all that much happiness."

I say, can I survived without it 🤔. Do I really need it .

WOW. Thank you for this as it can be applied to anything! I will screenshot this,

Wow that's big.

LoL, I wish my parents had started with 10.. in middle school I started with only 2 dollars a week.. (this was the 2000's so that didn't buy much)Took me weeks to save up enough for a cd or a book.. and when I got lunch money (another 2 bucks..) I'd skip eating and just pocket the money.. (my friends started with 20 and in highschool got moved up to 100..) so by freshman yr I negotiate a raise cuz 2 dollar allowance wasn't gonna cut it for highschool.. and it worked but I had to keep really good grades or I lost it very quickly Basically learned to never settle for less if I think I'm worth more

@@Yukosan13 they were well off or having a hard time?

You were pissed😂 Most people don't get allowances at all lol

@@GirlDo3 When you're a kid that grew up living in a chalet and who's parents had hundreds of thousands in the bank, yeah...you tend to become a brat that knows nothing about life and would not value money whatsoever so yeah, I thought my mom was being selfish by keeping all the money to herself but I could not be more wrong...now I live with my girlfriend, working as a delivery boy and my mom gives me 400 bucks a month as help with "adult life". She wants me to become successful on my own and I have learnt so many valuable life lessons thanks to her that I would not have learnt any other way.

exactly alexis!

Nothing wrong with being an employee, you can achieve your dreams that way with much less risk

If everyone built their own dreams, there would be no one to help them do it.

@@wnisewond59 I don't need anyone's help to build my own dreams, I can do it on my own😁

@@wnisewond59 That would be a reason to have AI

Couldn’t have said it better myself!

I absolutely agree I don’t care about having the “newest” anything I just want the freedom of my time Being my OWN time

I'd even go further. I don't spend beyond my means. I don't spend to impress other people.

Once you realize this, it's the most liberating feeling in the world. As I get older, I'm trying to live as minimalist a life as possible. That doesn't mean I buy crap products but rather think about every purchase and buy something only if I absolutely need it. I have an iPhone 8 and a 2008 Honda...both look and work great, so I see no need to change them for a temporary "high". People use shopping to fill a void, I certainly used to, but once you get rid of that association you realize how little stuff you actually need.

Are car isn't just a means of transportation. Sure to your average person yes. But for us Car enthusiasts its more then just metal on wheels. Its a lifestyle a passion.

thank you so much for sharing that evelog :) that's a great point in seeking experiences. that's kind of the only thing I'm fine with "splurging" my money on to this day

In my opinion, a cheap trinklet here and there isn't going to hurt your bank account. Especially if it's a token reminder of those so suppposedly valuable experiences you spent so money on. That reminds me exactly of the avocado on toast stereotype from here in Australia. Not buying a few trinkets here and there certainly isn't going to add up to the value of a major experience or business course, assuming you don't go on road trips every week. And even then, that's still nothing in comparison to the price of the experience itself, maybe 1/50th or 100th. I don't like the idea that budgeting has to be so black and white. You're either all in and only value experiences over material possessions or nothing. It can be a balance. Sometimes material posessions and experiences are interconnected and can remind you of those memories. Don't be so caught up counting every penny that you forget to live your life.

That’s a good lesson your dad taught you but parents should start explaining why and not just say “no “

@@jeeen8 I agree, it is kind of dumb to cheap out on a 5$ trinket that will be used as a memorial. It is not even a lesson, it is just how to be a cheap ass.

Yea, reading your comment made me realize something. I came from one of the more wealthy families in my town, but all of us dressed like we were the poorest. We didn't go out to eat more than 10 times a year. These were choices that my parents made so that we could have big trips since we had a big family, they got expensive. New clothes every year add up. Weekly restaurant trips add up.

RDPD

Hi vars !!!!

It is ☺️

Also about rat race

That is also a main idea in his book too

Dang I would've loved to learn this in high school. I learned about finance when I got to college. Finances are very important and should be taught to everyone.

HOLY. This might be the most insightful KZfaq comment that I've ever read. My mind's blown. Never thought of private vs. public schools in that way 🤯

@@veronicajata3121 that's awesome to hear! You've got time on your side - use it wisely! :)

Dang, I wish my high school had a mandatory finance class. I'm pretty sure there was an elective for it at some point, but I chose either theater or computer programming over it. I wouldn't necessarily say it was a mistake, but if the finance elective had been offered for more than a single trimester during my entire stay at the high school I would have had more opportunities to take it.

My public high school offers 6 different business/finance programs, including a personal finance course. Not all schools neglect it. You're only required to take 1 (most students pick personal finance), but plenty of people take upwards of 4

Hey man invest a little money each week and I’m sure it will help you even more maybe like 35$ a week

Are you also Investing?

@@youngatnaruto ofc a little when I can in stocks and crypto

@@thatsamazing8532 are u in Shiba and saitama I nu?

Not taking advice from a janitor

True but unfortunately this is also the mantra people use when they hit the glass ceiling.

its true but some things we enjoy are tough to get

Great words from a man of God!

Epic. Thank God for Spurgeon.

Praise God!

you got this!! I believe in you

@@VincentChan Thank you :')

Make a list of your talents or skills and try to create soemthing with them. Good luck on your journey though !

at least get a part time job. You don't want to accrue debt.

@@foufounazer4181 thank you

Finland sounds beyond ideal. You're very lucky :)

Thank you ‘Em, that means a lot

Np bro, thank u….keep doing what ur doing

The only folks raking in the mula are those coaches.

Exactly! financial freedom and wealth is a long term play.

@@VincentChan I completely agree!

That’s amazing! I really hope other cities can adopt those kinds of classes. Did you find it helpful?

Damn that needs to be required curriculum! We didn't have that in Washington state

@@VincentChan VERY helpful in my opinion, it allowed me to rethink what money is and how it works! Biggest takeaway was how to properly manage monthly finances and how to set/accomplish financial goals. But honestly because my dad and uncle’s built their businesses from the ground up; I just grew up absorbing what was constantly surrounding me. I was heavily influenced by their entrepreneurial mindsets. June, I moved to California and got my real estate license at 21! I love it so far. 😊 Thanks for uploading Vincent, I really enjoy your content!

@@jordanbarnett7247 Many American public schools don’t require it or even offer it because they solely focus on producing the working class.. but I agree; should definitely be a required curriculum!

One of my high school classes also in Utah were financial literacy too

thanks so much daniel, appreciate the support :)

Thank you I’m so glad you enjoyed it

I would like to add I grew up poor in the U.S all I ever heard was to "make it out" I would have to go to college and get into thousands of dollars in debt that I would have to pay off. Instead I went to a trade school for culinary; got a part time job, then full time, then finally a chef. Schools create debt and it's constantly being encouraged despite not being nessasaary for everyone.

@@courtneycherry5582 Things we don't teach people: the #1 predictor of how much wealth you will have in life are your habits, not how smart you are, how educated you are, or how good looking you are. That's why millionaires still buy used cars and still clip coupons; they have the right habits. The School system is a vehicle purposefully designed to teach you all the WRONG habits, and to keep you poor and dependent your entire life.

No. It's much more complex. My parents are immigrants, so my mom doesn't exactly understand the American economic system the way she does back home. School has taught me a lot about it. That's valuable.

Exactly. From the education system is where all the other crap that happens to us (whether because we voted for it or not) spawns from. People are taught, first, to keep their head down and then to blame everyone for their troubles and lastly, if you complain enough it'll be fixed by the government (lol).

That’s so true … :(

Hard if one has children to care, love, and feed for, even if the desire of new things is not there.

@@hugono3938 My parents told me that building wealth must be multigenerational. Just as their parents sacrificed everything so they could come to America and get a good education, so they in turn sacrificed their time and opportunities for me and my sibling, with the expectation that when we have children, we will do the same for them, slowly building and accumulating wealth over the span of decades.

Christopher Lee That sounds quite similar to my parent’s way of accumulating wealth, though we all work together to do so. Anyway will do, though!!

couldnt have said it better myself arturo :)

Hard work with the right mindset and vision yes

that's amazing monika! It's fantastic to hear that Australian schools offer some form of financial education even if it wasn't mandatory. How do you find life in Australia compared to the US? specifically in California? I've always wanted to visit Australia :)

@@VincentChan Australia is a huge country, and so is the USA, so its very hard to compare the two because you can get a completely different answer depending on which two parts of each country you compare. We moved from Melbourne to the Bay area and they are extremely alike, both in the good aspects (weather, culture) and bad (traffic, house prices). So much so, that if you are from there, I would probably tell you not to visit the southern parts of Australia because it will feel like you wasted your money travelling thousands of miles to visit a place you could have seen at home lol. The further north you travel in Australia, the more exotic and "Steve Irwin, crocodile hunter" things become. Living in the US has a lot of advantages if you can afford to live here. My husband and I have many more job opportunities here than back in Australia. The convenience of all the services/products you have here is also pretty different (the number of things you can get delivered to your door is insane). Australia however offers a kind of laid back "she'll be right" attitude that I miss dearly. It is also a country that while it plenty of problems, especially with race/immigration, offers far vastly more opportunity for those who have little or no money (like my family was when I was growing up). I feel like it is a much kinder, less brutal kind of place to grow up and exist. You may not have the same "Freedom" as you do in the US, there are a lot more rules and regulations, but you have free healthcare and and education system that allows even someone with zero dollars (like I had) to get multiple university degrees. The streets are not lined with homeless people in Melbourne like they are in California (and other US states) despite house prices being just as high. Australia has that safety net that the US lacks (imperfect as it may be). All in all, I kind of see the two countries as equals, where one country may be better on some levels, it will be worse in others, so it has never really mattered too much to me or my husband which one we prefer to live in. In short, Australia is where I would choose to grow up and retire, the US is where I would choose to work.

@@Rekeaki I really enjoyed your comment! I just wanted to ask what your career is and if you have any career advice for a graduating college student that still has no experience?

How rare. I have only heard one other person say he/she learned about personal finance in school at that age.

@@vincentlee4903 I'm a mechanical engineer with a bonus physics degree and my husband is technically a telecomunications engineer (he got a PhD in this field), but he now works in hardware design. For college students I guess my advice is to focus more on finding out what employers want in the field that interests in you and do anything you can to get that experience. Don't chase the big paycheck in the early years if you have the option not to. Experience is FAR more valuable. Do NOT endlessly grind in your job on things you already know how to do in those early years. Your job is to LEARN and build new experience. At the same time, know your worth, even if you are chasing experience, make sure you are getting paid fairly for the work you CAN do. When it comes to finances, I strongly recommend knowing exactly what you spend on the major things in life. If you don't know what percentage of your paycheck you spend on groceries (or utilities or transport, whatever), you are flying blind and have no chance of saving money. Once you know what you spend, tweak those numbers until you find a balance that you can comfortably live with while still setting aside money to invest. Start out with creating an emergency fund that is invested in low risk investments that you can withdraw quickly (within a day or two). Get savvy about credit cards and have at least one solid card that you use and pay off fully every two weeks, or however often you get paid, to start building your credit score (this card is critical because it will allow you to also cover emergencies while you take a few days to access your emergency fund money). Once you have enough in your emergency fund you can start investing the surplus into higher risk things like shares/ETFS. Forget get rich quick investments, focus on steady growth that is modestly ahead of inflation, its not worth losing everything just for a big gain that never comes. Don't waste time trying to save for a house deposit, for pretty much my entire life, investing in shares has performed better than investing in home and I suspect that will continue (unless you are house flipping, that's different). You are NOT throwing money away by renting, far from it. Check your bank accounts and credit cards EVERY day so that you are always on top of changes or miscalculations in your spending (or spot fraudulent transactions). That's pretty much it. I don't think I did anything other than that. Once I built up enough experience (for an engineer this period is minimum 5 years), I started being able to start ramping up my push for better and better salaries. Never stop learning and never stop building on that experience. My husband and I went from a combined household income of around $60k in 2007 (and that was after working for 5 years already) to around $460k when we did our taxes last year (in fact, its probably a bit more because we have pre-tax stock options too). We had to invest in ourselves before the bigger paychecks came along. We have also never owned a home. Renting all the way! lol

That’s amazing! What state are you from?

Must be nice I never learned how to write a check 😅 I still won't 100% jump in to stocks because I don't fully understand and in the back of my mind I'm just going to lose money

Fr though learning finance/stocks changes lives mine included!!! 😄👌🏾

Thank you so much for watching :)

nobody taught me anything too. I learned everything on my own as well.

@@Premium_Water well if you're younger then me then you're very fortunate.

Sorry to hear that. I'm grateful I'm learning all this at twenty-three.

@@MauriAllure my dad retired at 70. He worked the same job for 30+ years. But he did sock away 401k plan.

thank you janely!! that means a lot :) thank you so much for watching

Damn bro respect. How much did you have to save up if you don’t mind me asking

thank you so much michael!!

Oh… I thought that was what everyone meant when they said they had financial literacy in high school.

My school offered personal finance as an elective but not many kids took it

Minimum.wage

thanks so much for sharing George! Really appreciate you being open about that

@@VincentChan Thank you Vincent for the amazing Content! You're a real inspiration man! Much love from Texas!

"My mom didn't work and took care of us" *my mom WORKED taking care of us (and the house)* That's another way the government keeps making us poor,domestic jobs should be remunerated,just because it doesn't benefit capitalism doesn't mean it isn't important and the base of our society.

That’s really awesome of your school! I truly hope they adopt that class across the nation

Our class in California taught us how to fill out a check but not what an account is, where the money comes from, etc. They taught us how to spend .

That's actually lit

exactly! thanks for putting it so nicely joey :)

I’ll share some in the future :D Thank you so much for watching :)

No it take income to make millions. But if you want to die with money you have to find a way to make more than you spend. The majority of single income earners do not even make 100K AND many that do take almost 20 years to reach 1-2 million cash.

Good comment and quote.

I see your comments everywhere 😂

@@worldwide123 yea I get bored and watch KZfaq.

There is minimum.wage

Thank you. May you have an amazing day today.

"Is that a question, or a statement?" -Me, just now

Hi Vincent I just started a home care business and in my case Im trading time for money. What are other ways to bring in more income with out trading alot of time?

@@loreallucas3157 hey loreal! that's amazing, congratulations :) check out these "side hustle" videos for some ideas: kzfaq.infosearch?query=side%20hustle

@@VincentChan thank you so much your videos are inspirational and let us know we can live and enjoy life with out the corporate world

So I got a question. If you want everyone to become the machine, who's going to be the cog that keeps it running? It's kind of this mentality that brought the downfall of the US auto industry no? 10 managers for every 2 engineers.

Here’s 2 little secrets: Real Estate & Stocks. 👈🏼 All you need to learn and become successful. Don’t reinvent the wheel, just learn.

My favorite financial book, ever!

So true!

Your story sound like mine lol I experienced the same thing TT

wow that's amazing to hear :) it's definitely a step in the right direction even if the information was lacking. Hopefully more schools start adding this to their curriculum

Same here im from Illinios