Life-changing lessons from The Psychology of Money

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In this video I summarise the book that has had the biggest impact to my financial life.. Enjoy Xx
📚The book I summarise: The Psychology of Money: amzn.to/3G8pYfE
⌚️Timestamps:
00:00 - Intro
00:19 - Pay the price
01:54 - The magnitude of chance
03:40 - Wealth is what you don't see
04:58 - Use money to buy control
05:54 - Contrasting narratives
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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.
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Пікірлер: 294

@nischa Жыл бұрын

👉🏽 My Intentional Spending Tracker (free) - nischa.me/intentionalspendingtracker

@maxmilernjdmba.9750 Жыл бұрын

Best way to start your first business is just to start it. Get an idea, start promoting it, get your first client, make your first mistake with your first client, get your feeling hurt, get over stress and anxiety and keep working.

@sammymeien8224 Жыл бұрын

thanks for sharing

@Iyonndadon Жыл бұрын

Amen , thank you 😭

@MsFashionqueen1 Жыл бұрын

Literally

@williammorgan6217 Жыл бұрын

I don't agree. You can invest energy into something that will give poor returns so think carefully before you commit. Take your time.

@iveyhealth2266 7 ай бұрын

I definitely agree. Fail your way to success. Try, try again. 💯

@mirror_6336 7 ай бұрын

Great summary of the book. For me, the most important thing is that being wealthy means doing what I want at any time without harming anyone.

@DeepDiveBooks 5 ай бұрын

@erandiganepola Жыл бұрын

Hi Nischa, I'm in my last twenties and luckily I started focusing on financial education at this stage. I'm also having a plan to achieve my financial independence, most importantly to have the choice to do the things I value the most. I really appreciate the knowledge you share through your videos. These days I'm reading the "4 Hour Work Week" book because of your recommendation and it is teaching me important lessons. Just want you to know that you give so much to society through this channel. Keep up the good work! Waiting every Sunday to see a new video from you. Much love, Erandi from Sri Lanka.

@nischa Жыл бұрын

This has honestly made my day. Thank you Erandi - sending love to Sri Lanka!

@davegenders2490 Жыл бұрын

Just like to say that I love watching your videos, Nischa. This has become part of my Sunday routine every week. Very informative and in a language we can all understand. Long may they continue.

@nischa Жыл бұрын

Thank you, Dave - really glad to read this

@shankers1a2b Жыл бұрын

Nischa picks up key points from the book and provides commentary very clear and crisp. She is a master and very relaxed way of saying make it easy to grasp. You are the Angelina Jolie of youtube. Keep going strong!

@gatekeeperboxing5898 Жыл бұрын

The price I am most conscious of paying is Time. When buying a service or product, I look at the cost, the time it will save me based on my current routine, and also the time it will take to actually use the product or service. The other thing I consider is Stress, as the reduction of stress in my life has become more important in recent times. I have now reduced the time I spend around people who cause alot of stress, and have reduced the time I spend on activies which can cause stress.

@goodgossip7095 Жыл бұрын

Your channel really changed my life.. I was giving into all the marketing campaigns here in America without really thinking thru, but not anymore... I am now addicted to this channel. Keep up the great work Nischa.

@ritaghosh7516 Жыл бұрын

You are changing so many people's lives with your videos..... don't stop!!!

@yaavke Жыл бұрын

As a newbie in the Investing and finance world, I'm so happy i've found a content creator who shares such great information, and is a woman! (I see mostly men creating content in the finance area and while their content is great, I'm really glad I can also look up to successful women in the same area of expertise 🙌). My point is, I'm really glad I found your channel Nischa, keep creating such great videos 🤍🌟

@nischa Жыл бұрын

Thank you for letting me be a part of your journey!

@christopherhanson9351 Жыл бұрын

Great lessons, thanks for sharing! #3 reminds me of one lesson which hit home in the book "The Millionaire Next Door." Specifically it's the lesson of people who know how to keep the money they have amassed vs. those who only know how to lose it. Plenty of millionaires wear bland clothes, drive used cars and shop at regular grocery stores. This has helped me not waste money on things that won't bring me returns. I appreciate you bringing up a similar point, it reinvigorated my desire to use money wisely!

@nischa Жыл бұрын

100% agree

@courtneyfalconer9526 Жыл бұрын

#4 money buys control 🙌🏼 That really resonates with me too and is what I’ve been working on since the start of this year. I’m making sacrifices and making my money strategically work for me in order to create the life I want moving forward.

@rosaliadasilva2124 Жыл бұрын

Nischa, please do more videos like this. 5 insights from books about financial and self improvement. Thank you. I am from Timor-Leste ❤

@nischa Жыл бұрын

absolutely

@irinen5217 Жыл бұрын

Love your videos , short and concise. Straight to point , 🙏

@lancebernal9982 Жыл бұрын

I read that book earlier this year. However, I did not get enough out of it. I perhaps read it too quickly. Your video has inspired me to go back and re-read it. Thanks Nischa!

@janalavtizar4426 Жыл бұрын

Brilliantly encapsulated, thank you Nischa. Wealth is what you *don't* see and Contrasting narratives are the most thought-provoking for me.

@nischa Жыл бұрын

Thank you, glad you liked it :)

@Vishal2001Tech Жыл бұрын

Nischa never disappoints us, she's an incredible Content Creator and always creates masterpieces. Her content is amazing.

@KingAsiatic83 Жыл бұрын

Agreed

@nischa Жыл бұрын

thank you so much!

@creatingbalancefinance Жыл бұрын

This is one of my favourite finance books. So many great lessons. Thanks for sharing!

@spencedaddy1919 Жыл бұрын

Great analysis as always! And you picked an incredible book...I've been giving this out to friends over and over. And it applies to so much more beyond just money and investing.

@nischa Жыл бұрын

For sure, it applies to so many other areas!

@therichmindset11 Жыл бұрын

Great summary Nischa ! Your contents are always amazing!

@pratimavarma Жыл бұрын

This is one of the few actually helpful self-improvement book. I have read and re-read it multiple times

@natashapieper3196 Жыл бұрын

Thanks so much for making these videos, Nischa. I am learning so much from you and am working to save money on shopping and increasing my revenue streams. Keep up the excellent videos!

@annawong1305 Жыл бұрын

#4 resonates with me. My current job is demanding in terms of time and energy, so I'm going to take a step down and do a simple 9 to 5 so I have time to spend on hobbies and with things that matter. I'll lose some income but I believe it will be worth it.

@Havana-man 10 ай бұрын

I think it's about balance; I agree. Enjoy your downtime.

@i.o.3563 Жыл бұрын

Nischa, conciseness combined with your amazing accent makes it a joy to watch. Thanks.

@AdrianKSLee 8 ай бұрын

Thank you for producing this educational video and introduction to this book. Keep it up. Good work Nischa!

@TimewithLydiaThePharmacist Жыл бұрын

I always learn something new anytime I watch your video. thanks a lot for bringing up these great points. Awesome!

@paulevans4056 Жыл бұрын

Great video Nischa. I 100% agree with what you have said. In a small way I have focused on my wealth goals in lieu of prioritising those things that really matters, such as my marriage.

@tkthebear984 Жыл бұрын

Hi Nischa, I do love listening to your videos as you’ve got a lot of enthusiasm and I’ve learnt a lot from you, which I have put into practice. Looking forward to your next session 😀👍

@nischa Жыл бұрын

thank you!

@MilindShah Ай бұрын

Excellent, helpful, insightful, valuable. Thanks for your work.

@JoshHitti Жыл бұрын

So good. There are invaluable lessons in this book and it’s made to be digestible by anyone, even those with little financial acumen. One of my favorite quotes from the book is a poem: A wise old owl lived in an oak, The more he saw the less he spoke, The less he spoke, the more he heard, Why aren’t we all like that wise old bird?

@nischa Жыл бұрын

i love that!

@everythingresearchgabriel2289 Жыл бұрын

@@nischa @Josh Hitti Could you give a practical example were that^ saying is applied? Don't understand it, but want to!

@dieraven 3 ай бұрын

I have heard of this book from a top 50 finance books list, and I already had it on my 2024 books list. Thank you for the review and tips :)

@paggi93 Жыл бұрын

Well summarised! Thank you for these important points on the book!

@Havana-man 10 ай бұрын

I remember when my dad died, I cleared the mortgage. It brought back something he'd said years before. We'd discussed it and he'd said, yes not having to spend the money was great but the fact that nobody could take away the property was infinitely better.

@mejaaldrich2493 10 ай бұрын

Thank you for your content. Excellent. In recent years I have gone through many awakenings. Most of these awakening could not be achieved without read books.

@kevpo08 Жыл бұрын

I love the way you teach. Thanks so much for the content.

@soybeans8139 10 ай бұрын

Just finished reading this book last week. Really life changing and valuable information.

@paganmoonx Жыл бұрын

I looovveee your videos!! you provide such amazing advice!!! Congrats on your channel!!! ❤️💕

@gmeadowcroft84 Жыл бұрын

I thought I’d comment and just say thank you, I have been watching over your back log of videos for the last 2 weeks and it’s really opened my eyes to my finances. I have always been a hard worker but never really seemed to see benefits of that as time has gone on

@Havana-man 10 ай бұрын

The good thing about Nischa's videos is that they're simple and straightforward but never seemingly patronising. Her balance is great.

@princevaidyan330 Жыл бұрын

You are an absolute gem. Straight to the point in short time.

@nischa Жыл бұрын

thank you!

@shantirajkumar9366 Жыл бұрын

Learned a lot today looking forward to reading this book 📚

@willmallory9085 Жыл бұрын

I just purchased this as it was recommended to me. Thanks for sharing.

@frankiemcguinness4713 9 ай бұрын

Thank you for recommending this book. I read it and couldn't stop reading it. Some chapters were hard to digest but overall, it changed my mind about how I see investment and how to prepare for it. Along with that the story comparison is great to see

@scottwalford6619 Жыл бұрын

One of the best books I’ve read on the subject in recent years. Recommended reading

@mladenbrocic4936 Жыл бұрын

Thank's a bunch for all your recommendations 🌅

@stephmacherr552 Жыл бұрын

Thanks for the review!! I been wanting this but didn’t know it.

@warrenmillard4179 Жыл бұрын

The best description of wealth I ever heard was 'choices'. To get to a point, financially where you decide what you choose to do with your time. The only actual commodity we have is time and money should be seen as a tool to allow us to structure our time in the best possible way.

@Havana-man 10 ай бұрын

Well said.

@kumarsabaratnam4787 8 ай бұрын

Thanks for summarising the contents & values of the book. Its good as hv read the book. Its true & good advice to anybody.

@diasporaman5419 Жыл бұрын

Love it !!!!! Thank you Nisha!!!!!

@TheSilentWealth Жыл бұрын

Something I hold on to dearly, the lessons are very contrary to what a lot of financial gurus preach on KZfaq. It aligns very well to my own values - save more, need less, and teach yourself to be able to be content with enough 🙏 Great summary!

@nischa Жыл бұрын

Thank you :)

@sonnysting2663 Жыл бұрын

I feel like I'm seeing my soul mate when it comes to financial management! 😁 And maybe even more. 😍 Good work! Congratulations!

@millionairemindset1220 Жыл бұрын

Good job, Nischa. Keep it up. You are one of my competition and you fuel me. Thanks.

@nischa Жыл бұрын

Thank you!

@rickysteamboatcv Жыл бұрын

This is indeed a great book, really punchy and factual great shout Nischa thank you!

@martinpolakSVK Жыл бұрын

Loved the book,worth reading,still nice work to summarize

@annaberger9622 Жыл бұрын

Always Food for Thought. Thank you :)

@LindyL Жыл бұрын

Thank you for sharing! This all makes so much sense

@nischa Жыл бұрын

pleasure

@lavanyar4865 10 ай бұрын

Hii Nischa,..Amazed by your way of explaining each content and your editing is perfect :)

@daniellev_ Жыл бұрын

Thank you so much for sharing !

@akashak666 Жыл бұрын

Been watching your content for some time, love it.great job ❤️from india

@purvildoshi4608 Жыл бұрын

Great book- thanks for the recommendation!!

@yummy_n0udles Жыл бұрын

Psychology of money is an absolutely amazing book! it definitely gave me a different outlook on money.

@ericbutler1305 Жыл бұрын

Great video, I was already planning to read, but it just moved up my list!

@aleksandrapetrovska7765 3 ай бұрын

Fantastic content Nischa… I love it. Have you ever thought about giving a TED talk? Keep posting, freetings from a Macedonian based in Copenhagen❤

@roselinededua Жыл бұрын

I’m currently listening to this book on audible. I love the perspective from the book. Excited to hear your takeaways from the book

@Havana-man 10 ай бұрын

That's a great point; I hadn't considered it. Nischa, can you do one?

@Imselvakumar Жыл бұрын

I just studied this book last few weeks later, it's really amazing and help me, after studied i have been changed.

@apilotsperspective Жыл бұрын

Great information thanks ❤

@Mayah862 Жыл бұрын

Followed you from the beginning this is such a good digest of that book! Please start a finance podcast, it’d be so epic

@nischa Жыл бұрын

Never say never :)

@filmawayvlad Жыл бұрын

Indeed! Thank you!!

@shirleyebuka Жыл бұрын

I can relate with the last point. Thank you.

@juiced009 Жыл бұрын

What a beautiful refreshment you are in this financial nische....Love the videos Thank you

@nischa Жыл бұрын

thank you :)

@ranaplans Жыл бұрын

I just started reading this book yesterday🙌

@thabangkanti Жыл бұрын

Thanks for sharing 🙏Am learning💯📝

@TharWaankal Жыл бұрын

Nice Nischa. Keep the good work up 👍 Watched all of your videos. All of the is really helpful and appreciated.

@nischa Жыл бұрын

thank you!!

@Finding-Fish Жыл бұрын

Fantastic video, Well said and thanks for sharing!!!!!

@nischa Жыл бұрын

Thank you - glad you enjoyed it!

@JodyDube 9 ай бұрын

Real wisdom here, Nischa!

@waterbourne9282 Жыл бұрын

I haven't read that one but from your synopsis I would recommend reading The Millionaire Next Door and The Millionaire Mind which I found comprehensive and compelling analysis of the wealthy and their habits and mindsets.

@financieramente.educados 4 ай бұрын

About Millionaire, I recommend The Millionaire Fastlane, excellent book on entrepeneurship mind!

@anandsagar0126 3 ай бұрын

Need a coach like you!😊

@prathamesh1242 Жыл бұрын

This book is an eye opener for me......and a few important lessons i learnt are: 1) No one is crazy, never judge any one from their financial condition 2) Save more so that you can create more wealth through the magic of compounding

@MetalMilitia072583 Жыл бұрын

This book is so good! Numbers are easy for me, but behavior changes are so much tougher.

@nischa Жыл бұрын

for sure

@richcleme2798 Жыл бұрын

We need this as a podcast please!

@learneconomics2021 Жыл бұрын

I would also recommend, Irrational Exuberance from Robert Shiller. Worth a read to learn more about economic and financial cycles and behaviour

@haren_17 Жыл бұрын

Hey Dear Mam, You are doing a great job. Keep inspiring by your realistic insights... A gratitude from India 😊

@redjohn20001 9 ай бұрын

What a great set of rules for a young person setting out on a path of life wealth. I learned these rules the hard way finaly having the correct mind-set in my mid 50s. Another great video of the many you have produced, but where did you get all this knowledge from so early in your life?

@venkatnjn6354 Жыл бұрын

Hi Nischa your video contents really worth watching. Keep up the good work.

@nischa Жыл бұрын

thank you!

@practicesetsbykaushalsingh9915 Жыл бұрын

I had done read that book just 2week before. Finished read out at 7 APRIL. Started from 3 APRIL - End on 7 APRIL

@buysellinmd Жыл бұрын

I love this book!

@TheSchoolOfInspiration Жыл бұрын

Thanks @Nischa. Great content as always. I spent the first 40 years of my life, overspending on a flashy lifestyle, material possessions, relationships, mansions, holidays, cars, blah, blah…all in a vain effort to gain validation and approval. It was an exhausting hamster wheel that led to very little fulfilment or contentment. COVID and the lockdown brought matters to a head and I had to face some home truths. Now, I have reverted to a far simpler lifestyle and try to live through a sense of appreciation and gratitude daily. It’s not a magic wand and will take daily practice but…let’s see. I also gave away 80% of my wardrobe to charity shops, which felt crap at the time but life is much simpler now. Thank you for your great videos and useful content. You have a similar presenting style to Dr. Ali Abdaal. 😊

@nischa Жыл бұрын

I love this!

@moneytalksbyhjgwhite Жыл бұрын

Ahhh this is my favour book, literally just finished it! So jealous you made a vid on it first 😅 look forward to watching this vid a bit later

@nischa Жыл бұрын

waiting for your video! Enjoy the travelling :)

@KT-zx9jr Жыл бұрын

Good work Nischa.

@Tkanyike Жыл бұрын

Rich is silent- as in its subtle, poor is loud. i made that up but i think it fits lol. Nice video...definitely sharing this one with my daughter. i can hear now already...dad i know i know lol

@Exxon300 Жыл бұрын

Yes, preach sister

@SGH-rt6ci Жыл бұрын

You can teach simply anything ❤with your charm and beauty

@Lambert7785 Жыл бұрын

yup, good stuff, and holding out for what you really want is a kind of battle, and requires perseverance - and share with people who are struggling when you have more than you need :)

@cadmuscassey Жыл бұрын

I just got this book and I have not read it yet.. So thanks for sharing this I will definitely come back for more questions if I have any. I love what you said about bill gates so true, focus on the availability of opportunities..

@Rakyr Жыл бұрын

I am somewhat an introvert and I value my freedom more than anything and as sad as it is to admit, an abundance of money gives you that freedom. So even though there is a threshold of money for happiness, after the covid restrictions and the pandemic I think it is more important than ever to have money/systems in place for you to own your own life regardless of happiness.