Top 5 Reasons Why Most People Are Broke

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. Currently, the majority of people are financially broke. The majority of people are living in debt and don't have enough to cover small emergencies. Let's go over why most people are broke.
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Why Most Americans Are Broke
0:22 - The majority of people are broke
1:03 - Many people like to put their money on luck and gambling than on growth
2:11 - We are never taught about money
3:31 - People are not investing
5:08 - Most people don’t make a budget and stick to it
6:19 - Americans are spending too much to live the American dream they can’t afford
What Is The Minority Mindset?
The Minority Mindset has nothing to do with the way you look or what kind of family you're from. It's a mindset.
Give the majority $200 and they will come back with a pair of shoes. Give the minority $200 they will come back with $2,000.
Think from the mindset of a consumer and be the provider, that's the Minority Mindset. Don't be the majority. #MIH #ThinkMinority #FinancialLiteracy
Twitter/Snapchat @M2JaspreetSingh
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This Video: • Top 5 Reasons Why Most...
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Based in Detroit. #Punjab
Jaspreet Singh

Пікірлер: 716

@MinorityMindset 6 жыл бұрын

Thank you for watching! If you enjoyed this video, you should watch - How The System Is Failing & Leaving Your BROKE: kzfaq.info/get/bejne/kM-plJiom6ipfJs.html

@MrParka2 6 жыл бұрын

What is the best way to start investing

@akin1989 6 жыл бұрын

Minority Mindset Incredible work man. Keep it up

@Jesus_is_King505 6 жыл бұрын

The dislikes are broke and probably smell like booty hole.

@dane8758 6 жыл бұрын

Minority Mindset love the vids man!

@dane8758 6 жыл бұрын

andrew benjamin bitcoin! Lol

@spenceranderson7144 6 жыл бұрын

Stop keeping up with the Joneses and start keeping up with Jaspreet.

@brendenshouse5807 5 жыл бұрын

even the Joneses can't keep up with the Joneses. Besides we all know stuff doesn't make us happy we just don't believe it. "If you buy things you don't need you will soon have to sell the things you do need," Warren Buffet

@bryanbroacosta 5 жыл бұрын

Happy to know I don’t know who the joneses is

@anitaares8271 5 жыл бұрын

The Joneses are most likely BROKE. It's just a race to the bottom...

@ChocolateMilkCultLeader 4 жыл бұрын

Damnn

@PurpleFlower22 3 жыл бұрын

Lol

@jjbuckner 6 жыл бұрын

A pet peeve of mine is a lot of my peers and even elders for that matter always think if you have a lot of money that you are all of a sudden greedy and a bad person. This just gives them a reason in their head to make them feel ok that they are poor and going to stay poor.

@awerbpo 6 жыл бұрын

Yup, i know someone exactly like that. It is very sad.

@edwinestrada8715 6 жыл бұрын

JJ Buckner then they call you selfish😂

@paulhackett5530 6 жыл бұрын

Well said! People routinely misquote the bible saying "money is the root of all evil". In reality the LOVE OF MONEY IS THE ROOT OF ALL EVIL. money is not good or evil, it's just a tool.

@ahumandoing6813 6 жыл бұрын

Yes I especially notice that among left-leaning types. If you have any sort if money they think you stole it from the poor. It is like when leftists complain about income inequality.

@russwes7778 6 жыл бұрын

the daily sheeple the poorest people and states in america are republican and all the religious idiots justify being poor because its gods will. You're thinking of cuckservaturds not liberals.

@eddie-edd2664 6 жыл бұрын

Cant lie man since I've started watching these videos my life has turned around I tried showing my friends but they weren't interested which was a sign that I was on the right path and I was right thank you brother god bless🙏

@marcusbailey7900 4 жыл бұрын

Edwin I try sharing this type of information with friends & family and none of them show any interest and think that saving and budgeting is only a waste of time. Thank goodness that I have a minority mindset.

@mrj8940 3 жыл бұрын

@@marcusbailey7900 That's why are few people in the world who are richer

@jamiethomas8975 3 жыл бұрын

Same! Been trying to tell friends about stuff like this and they say "its not a fun way to live", or " why would I need to do that I could die tomorrow" LOL

@darrylstem6426 6 жыл бұрын

love hearing people complaining they have no money whilst wearing name brand clothes and $200 shoes

@grit7733 5 жыл бұрын

Expensive shoes last a lot longer than cheap shoes, especially if you rotate pairs and use shoe trees.

@abovethelaw4417 4 жыл бұрын

@@grit7733 Cheap shoes last longer and are much better

@kefkapalazzo1 4 жыл бұрын

one man army nope

@musicismysaviour22yearsago 4 жыл бұрын

one man army not really man, low end shoes ,garments dont last . its ok to buy a nice pair of expensive shoes or boots because they WILL last longer ,the problem is people keep buying more and more shit they dont need

@Jstwatching 6 жыл бұрын

Eating out all the time is a big money snatcher.

@officialsouthsoul5223 6 жыл бұрын

JM3 true that, especially if you a picky eater.

@christopherroberts2423 6 жыл бұрын

And you get fat!

@emmabila3480 6 жыл бұрын

true

@taylorvance4886 6 жыл бұрын

But it taste soooo good

@MiguelRPD 6 жыл бұрын

Solution: water fast until you're out of debt. Only eat when you're about to die.

@alicecoppers8980 5 жыл бұрын

Self discipline is far more important than IQ

@akin242002 4 жыл бұрын

Do you mean high IQ? IQ itself and the way you worded it makes no sense. High IQ without self discipline is useless. High IQ with self discipline is optimal.

@MrTresto 3 жыл бұрын

.... As long as you have at least decent IQ. It's not one of the other, it's both.

@alexmontoya321 6 жыл бұрын

I just recently paid off my credit card, never been so relieved to be broke

@kjduff22 6 жыл бұрын

Personal finance was not required in my high school. I took it just because it fit my schedule and it was the most useful class I ever took.... I am now a finance major

@MikeAnderson-mh2og 6 жыл бұрын

Kyle Duffy Good for u fool

@ejames80 6 жыл бұрын

I bet is one of the classes that impacted your daily life the most?

@akin242002 4 жыл бұрын

Yup! My high school had it too. However, it was only for juniors and seniors.

@jeraldkonkel 5 жыл бұрын

Some people are buying cigarettes and alcohol and recreational drugs on a daily basis. That's a very common reason why some are constantly broke

@WealthbuilderzTV 6 жыл бұрын

$70 billion on lotto tickets? 5 states only teaching Financial education? These statistics are crazy.... oh and keep hustling!!

@raydiancemusic 6 жыл бұрын

Wealthbuilderz TV And we wonder why no one understands finances..🤔

@chriss4365 6 жыл бұрын

Yes they rather teach math no one uses in the real world.

@WealthbuilderzTV 6 жыл бұрын

raydiancemusic exactly.

@NickOloteo 6 жыл бұрын

1 billion people watching gangnam style too haha

@bryanbroacosta 6 жыл бұрын

Wealthbuilderz TV I’m surprised they were any!

@cha-jjeannette7249 6 жыл бұрын

Lottery is the biggest scam out there . Warren Buffet nailed it with that saying if you don't make money while you sleep you'll work for the rest of your life . You're the man Jaspreet keep the good videos coming brother .

@twotone3471 3 жыл бұрын

The Lottery is simply a tax on stupidity.

@payamyazdi7672 6 жыл бұрын

actually saving money is not that hard just you gotta fight you desire to buy stuffs constantly

@chrisredfield3240 6 жыл бұрын

Payam yazdi there is a billion dollar industry trying to part you from your money the fight is to much for the majority hence the over 1 trillion personal dept

@ghorn1217 6 жыл бұрын

Payam yazdi Not if you don’t have a desire to buy stuff constantly.

@chrisredfield3240 6 жыл бұрын

G Horn i don't but everyone i know just want's to buying everything

@ghorn1217 6 жыл бұрын

Chris Hart Ego and human emotion are the biggest obstacles to building wealth. That’s why most people aren’t wealthy and never will be.

@gargoyles9999 5 жыл бұрын

Payam yazdi Scrubs got to Git Gud

@sparshrastogi2646 6 жыл бұрын

People are broke because they keep buying things they don’t need with money they don’t have to impress people they don’t like. For me #1 factor is lack of education on this topic and general lack of accountability.

@MikeAnderson-mh2og 6 жыл бұрын

Sparsh Rastogi India was better under British rule

@danielgarcia9095 6 жыл бұрын

Sparsh Rastogi you my baba hit the nail on the head!

@kekw3688 5 жыл бұрын

@@danielgarcia9095 actually that's a quote from fight club lmao

@momondemand1443 5 жыл бұрын

Sparch Rastogi; You should you quotation mark when using someone's statements. This is Will Smith's quote, not yours.

@tc3628 5 жыл бұрын

I like buying tools.

@threedots5820 6 жыл бұрын

I'm a 13 year old and already investing.

@jonathanmonroy6402 6 жыл бұрын

Three Dots that's amazing bro I wish you the best journey a 13 year old can have. Don't work for others and teach the one's that are not thinking like a smart 13 year old investor lol. What are you into now if you don't mind me asking buddy?

@threedots5820 6 жыл бұрын

+Jonathan Monroy I'm into all kinds of financial things and just a few months ago got a job at father's company. I can use that money to invest!

@Frank_Ammerlaan 6 жыл бұрын

Then read as much about it as you can. Save some money as well.

@Coronaboii88 6 жыл бұрын

Keep at it kid. Your future is bright. Wishing you nothing but success.

@chrism3933 6 жыл бұрын

Three Dots can you specify for those in your age group what those "financial things" are?

@SageIceDragonX 6 жыл бұрын

This brokenness comes from the "I need this" factor. You don't need a video game or a 100,000 dollar car. This is why you'll are broke crying that life is hard.

@shannamac3974 5 жыл бұрын

U dint .ind the video game. It's a one time expense that can entertain for a very long time. Just as a book, once you have it you can use it infinitely. But buying things you cant afford well that is unwise

@vijabeveritas5990 4 жыл бұрын

I work at a job making very good money, yet I live in a small, 2 bdrm apt (I am single), in a less than ideal part of town. Not dangerous, just not ideal. Also, the walls are thin, the neighbors are loud, property mgmt is not very helpful, etc. Mom frequently tells me, I ~need to get a nicer/bigger place, b/c blah, blah, blah. Anytime she starts in on that, I just keep repeating to her, $325/month, $325/month... I mean, sure, one of these days I will move to a nicer place, but in the mean time I have paid off all my CCs, just about to pay off my car loan, and soon enough to pay off my school loan, at which point I will be DEBT FREE!!! Oh, and as of last month, I am at $2k in savings! Living beneath your means = FREEDOM!!!

@musicismysaviour22yearsago 4 жыл бұрын

Vijabe Veritas woah woah hold on a second, 325 $ for a 2 bedroom apartment? WHERE

@bryanbroacosta 6 жыл бұрын

Indeed we are the minority, the ones who think different, value freedom, and the most hated in society

@blacklyfe5543 4 жыл бұрын

Same

@1pierrew 6 жыл бұрын

Peer pressure make us lose money like going out with friend but are afraid to tell them do you cannot affrord to going out then regret it when you receive the bill🙄

@darkapothecary4116 6 жыл бұрын

Pierre Wendy François then you need different peers.

@RubyRobbins88 5 жыл бұрын

If you can, find a book called Boundaries by Henry Cloud and read it. It can help you to say no to people at the right times.

@enigmathegrayman2953 6 жыл бұрын

Man, I don’t wanna be like most people. Even if I never become rich I don’t wanna be broke or buying lottery tickets as my last hope!

@jstaekwondo9 6 жыл бұрын

$70 Billion ?!?! I need to start a lottery ticket business then lol

@Exceedvictory 5 жыл бұрын

Borat that’s what I was thinking

@lifechoices4749 5 жыл бұрын

You can't! You will be charged with illegal gambling. Mobsters do this until they are caught.

@appleexposed4404 5 жыл бұрын

The government would stop you in your tracks lol. Only they are allowed to extort.

@HonestFinance 5 жыл бұрын

I think this is the tenth video Ive watched in a row :)

@TROOP235 6 жыл бұрын

"Psst, That Gucci belt you want isn't the right place to put your money" - Hilarious

@MichaelJayValueInvesting 6 жыл бұрын

Our (American) society praises spending and most never think about investing. Around bonus time people will ask each other what they are going to spend it on. When asked, I say I am going to save and invest it. Usually get some funny looks after that.

@leloom 6 жыл бұрын

Michael Jay - Value Investing More Power to you!! "Keep hustling"

@Kumar-dw3cz 6 жыл бұрын

Glad to know I’m not the only one getting the weird looks.

@auxilirem9416 6 жыл бұрын

Michael Jay - Value Investing same my dude, I've asked a lot recently since I make good money now, " When are you gonna buy a new fancy car?" I tell them, "I'll buy an efficient car once my current car won't run if I can't get it fixed" I don't understand people who tell me I need to flex the cash I make. I don't make money to flex, I make it to live the life I want

@spiraldiaries1273 6 жыл бұрын

That's why we are part of the minority mate haha.. I also am used to it you're not alone..

@gargoyles9999 5 жыл бұрын

Michael Jay - Value Investing I get weird looks at work when people find out I budget

@atomicmuffins1328 4 жыл бұрын

You sir are freaking gold! I’ve been saying all this since I was in high school, my coworkers buy lottery tickets while I buy stocks, they go on vacations while I save money for a large down payment on a house or retirement.

@yusufahmed8980 6 жыл бұрын

This is one problem I can see happening in the future, and I like how well you highlight the possible solutions. This is why I'm still subscribed. Thank you, Jaspreet.

@jamie49868 6 жыл бұрын

It's that people have a hard time believing that those cents and dollars add up to real savings. Every day I take the coins out of my pocket, as well as the dollar bills, and stick them in a jar or box for my bills. Some days it's a $1.23, and other days it's $6.75, but usually it's somewhere in between Since I have been doing this the last several years, it has always totaled over $1000 per year, and that is basically loose change. Sure you wont get rich off the change in your pocket, but that's a tidy sum of savings without any effort. The point is that even if you can't save 10-20-30% of your paycheck, you can save something, and that even a little bit over time adds up to real money.

@SilverAimzzy 6 жыл бұрын

I agree not to buy financed things! I bought a car on finance three years ago and have set myself the target of paying it all off by the end of the year. Then I can then put my money into investments rather than something that loses value.

@kimmer6 5 жыл бұрын

Silver Aimzzy, you are on the right track. Best of luck to you.

@fuhcue666 6 жыл бұрын

14.6 billion dollars on books? That’s like 5 whole college text books.

@mawsafgjp4619 5 жыл бұрын

Recently found this channel, subscribed got the e book. Using this information to help me get where I need to be.

@kissmokosapwet 6 жыл бұрын

Thank you so much jasprit!!! I learned so much from you! Keep doing great videos!

@GTS300Coupe 6 жыл бұрын

Because too many people are having kids they can't afford

@dt4654 6 жыл бұрын

Tell that to mommy sites saying have kids even if you are in the financial state of the 76% of idiots spending everything and then eating grass until payday comes around 😂

@pennyc8252 5 жыл бұрын

Esp Muslim family too many kids n their live in poverty whole life .sad reality

@da14a49 5 жыл бұрын

Not really, you can have kids and be very very wealthy.

@bassam_salim 5 жыл бұрын

When your first kid can make money before you retire, he is an investment, he can help you to feed his brothers/sisters. That's is not my only retirement plan but having about 5 kids is not really that hard, you just need to budget and live under your means.

@UnitedPebbles 5 жыл бұрын

Kids are fun and there is the farm and works and providence by God, everywhere!!!

@MarkMcLain 6 жыл бұрын

Awesome video. You provide great content. Sharing on Facebook.

@hammerhead19able 5 жыл бұрын

Love your videos. Keep them coming.

@carlosmiguel-bq3ov 6 жыл бұрын

well done again brother thank you very much for your work

@edwardcm9175 6 жыл бұрын

love your videos and the comedy in them. keep it the great work

@LuckyLopez777 5 жыл бұрын

Love the Videos Brother keep up the Great work :)

@BrandonBrownfield 6 жыл бұрын

Thank you for this.

@KARLA.T. 6 жыл бұрын

I love watching your videos. Keep hustlinggg 👌🏽

@javebjorkman 6 жыл бұрын

Keep these coming, Jaspreet! 🤙🏽🤙🏽🙌🏽🙌🏽

@servantof1god 6 жыл бұрын

Thanks!

@Lady00029968 6 жыл бұрын

Other reason I can think of why people go broke is trying to keep up with the Jones 😓

@jstaekwondo9 6 жыл бұрын

Good content as always!

@silvershadow1111 6 жыл бұрын

very true. great vid

@banahlee 6 жыл бұрын

3:35 they think it's the same as gambling

@jessicao.3970 5 жыл бұрын

I'm learning things. Thanks!

@themusicgaragetmg2330 6 жыл бұрын

Dude! Love your vids! Your advice is timely and hopefully more people will start changing their normal views!

@baldeepbirak 6 жыл бұрын

999 likes. We have an emergency. Stop financing your purchases.

@silverado035 6 жыл бұрын

Baldeep Birak unless it's 0% interest and you make the monthly payment, just like cash.

@1redrubberball 4 жыл бұрын

@@silverado035 Generally, 0% interest just means they built interest into the price of the goods.

@ddwilliams23 6 жыл бұрын

Smart Brother!! Glad I subbed!!!

@rosarioescobar8255 2 жыл бұрын

Great content

@tubularbill 5 жыл бұрын

Brilliant comparison. Another excellent video.

@xdsmastermia 5 жыл бұрын

good advice

@cj2842 3 жыл бұрын

Learning to be content while striving to develop yourself mentally and financially is tricky. But contentment is a powerful tool to combat the “I need” or “I deserve it” mentality

@darlenemaples5034 6 жыл бұрын

LOVE YOUR VIDEOS AND KEEP COMING WITH YOUR HANDSOME SELF:)

@rickeshpatel4025 3 жыл бұрын

He just says it how it is. No sensationalism or bs or playing things down. I appreciate the straight up facts and truths ✌🏽

@claytonferrara1990 5 жыл бұрын

Great videos

@donciseau 6 жыл бұрын

Very educational

@karenhodges7545 5 жыл бұрын

Love this channel

@benspencer8783 4 жыл бұрын

Lol...well presented...thank you 👏

@Kayakamuy 6 жыл бұрын

its insane how much your channel has grown these past months ive been here for so long

@yq1017 6 жыл бұрын

I love the advice and all your videos. Thank you for sharing your knowledge. You also have great fashion sense. Really interested in knowing where that shirt can be purchased. :)

@drromanr 6 жыл бұрын

Absolutely love your channel; short videos yet full of information, said information is actually relevant, and my favorite: time stamps and an actual fucking video description in the description. Thanks!

@saladinallah5299 5 жыл бұрын

Love your channel brother! You sound like what I’ve been lecturing my daughter about ever since she can comprehend things😂. Forwarding this to her now.

@_harry_potter_7865 6 жыл бұрын

Love your videos 🔥🔥❤❤❤

@l7aax568 6 жыл бұрын

I wish to be seen this 10 years ago

@backspace4353 6 жыл бұрын

best advice!!!!!!!!!!!!!!!!!!!

@chriskuhr9325 6 жыл бұрын

Hey Jaspreet since you always are taking about debt, can you take about using debt as leverage (good debt)?

@stephenshelton4267 5 жыл бұрын

In 1993 I took a job at a mini-market in a location that primarily sold to lower and middle class people. I quickly learned just how common it was for people to spend $10-$20 DAILY on the lotto. They'd have their special 3 or 4 digit number that they'd play daily and splurge on the bigger weekly or biweekly

@chaotiicxx4119 5 жыл бұрын

This video changed me in a lot of ways.... thanks and you earned yourself a subscriber :)

@darylmooyoung6414 5 жыл бұрын

Everything you said in the video is HAPPENING here in CANADA too bro lol. Keep up the great content get that hustle!!!!!!

@TomBell 6 жыл бұрын

Yes, the videos are good. Yes, they are HELLA important (Cause nobody's learning this stuff in schools), But I just gotta say it... You're just an easy guy to like man!

@dacution 5 жыл бұрын

1) High cost of living. 2) Low wages. 3) High medical costs / no universal healthcare. 4) Student loans. 5) Credit card debt.

@dangeles95 4 жыл бұрын

Nope. There are less people in poverty than ever before. There are more millionaires being made now than every before. You have a slaves mindset. No offense, but it’s true.

@ChrisMFlorida 4 жыл бұрын

6) No personal responsibility.

@josearaiza903 6 жыл бұрын

By trying to act rich!!!!

@shafserious2805 6 жыл бұрын

jose713 people these days want to be celebrities, go out on a sunny day you will see it. Lol

@evaldaszmitra7322 4 жыл бұрын

Key is consistency I think a lot of people begin to invest, make good financial decisions, but then they see that BMW they can afford and buy it. Back tk 0.

@jonathanmcgovern2464 6 жыл бұрын

Am good at budgeting, living below means, but don't invest. While I know would get more over time, fear of market crash losses etc.. stops me. Savings are in 2% int acc - prefer 100% garanteed lower return, than risk higher return (with possible losses).

@aidanhodge7090 5 жыл бұрын

Statistically over a 90 year period (including the great depression) youd expect a 10% return on investment if one is properly diversified or investing in a fund. Even if it crashes it'll go back up again.

@trekinseattle 5 жыл бұрын

2 major points: 1: Keep saving, if you're young you have plenty of time to figure out what to do with the money. Just keep saving 2: timing timing timing, location. Right now the stock market is high, in the past corrections are on about an 8-10 year cycle. It will fall. I'm in Seattle, housing is crazy high, it will also correct. To sum up: Get your credit score up, eliminate debt, save, save, save. And as soon as you've spent at least 2 years learning which investment vehicle suits you, jump in with confidence. I just finished building a new house when 2008 hit. I saw the writing on the wall, lowered my asking price 80,000 while everyone else in the area was greedy and played the 5,000 here and there drop. My house was the only one in that valley that sold. A lot of the others went bankrupt. I regrouped, toughed it out for a few years and trippled down in 2014. I put money in a few really solid stocks, one being Lockheed Martin and have now built 6 more homes. Times are great. But personally 4 months ago I sold nearly all my stocks and am not looking at builder lots. I'm going to enjoy some time off. I'll wait for a really great time to jump back in.

@MrAnperm 5 жыл бұрын

As long as you don’t buy at the top of the market you’ll make money. Buy at the bottom of the market and you’ll get a great return on your investment. But in the middle and it will still go up over time. When there’s a crash and the news is talking gloom and doom, the smart investors are buying up stocks. That’s when the most profitable opportunities are available. It’s really that simple.

@1dayatatime186 3 жыл бұрын

Was at a Mexican restaurant few hours ago. Guy was complaining " when did burrito go from 4.50 to 6.50?? Daang i wanted a burrito." He pulls out a few dollars and orders 2 tacos instead. 🙄

@staytruewarriors9185 6 жыл бұрын

That is so true!! No financial education to be found 😱 Thank goodness for people like you on youtube, sharing the good news!!

@allen_graphics 5 жыл бұрын

The only channel easy to understand and making advice to people about where to put their hard earned cash.

@TheBemused 6 жыл бұрын

“Your money goes out an acts like a magnet” 😂. Positive returns aren’t guaranteed! However, it’s so much better to be in the game! Nice video! -Akeiva

@guiso1973 4 жыл бұрын

👍👍👍 love your videos

@jaicbacote3494 6 жыл бұрын

A $10,000 emergency fund is better. The way things are now, $2,000 can be gone on an emergency before you can even blink! Save those tax refunds, act as if you don’t even have it, split your earned money with investing and savings. Implement “no spending” days. Really dedicate and grind for a year, you’d be shocked at how much you have saved...not even including whatever $$ ur investments provided.

@taoist32 6 жыл бұрын

Charlene Moore Yes. Very true. I save just about everything from birthday checks to side hustle money. You can never have enough savings.

@taylorvance4886 6 жыл бұрын

taoist40 u can save to much. Lets say you have a $25,000 emergency fund, if you just had a 10,000 emergency fund you will still be fine AND you can invest the other $15,000 and make money with your money. Emergency savings is good to have but its money thats depreciating in value ever day month and year.

@jalabi99 6 жыл бұрын

Whether $2000 or $10000, the important thing is to have an emergency fund, period. Instead quibbling about one figure or another, I like having six months' worth of monthly expenses saved in an interest-bearing emergency fund. That way, worst case scenario, if I have absolutely no income coming in for half a year, I won't starve, I won't be homeless, and I'll still be able to watch KZfaq ;)

@jamie49868 6 жыл бұрын

For me, the more emergencies that occur through out my life, the more I feel I have to have a bigger sum. When it was just my car, a grand was enough. When it was just my house and car, $10,000 was enough. Now with a family, property, cars, etc., I feel shaky with $50,000. That seems like a large amount to not have in play, but there is plenty of serious shit that can go wrong that needs cash "right now". Insurance will come through (sometimes) but that can take weeks, months or even years, and doesn't do you any good when a storm has blown off your roof or knocked a tree into your living room. Jalabi is right, there is no "one" figure, but you better have a figure ready when you need it.

@jalabi99 6 жыл бұрын

jamie t as long as that $50K is in an interest-bearing account, I guess you should be OK. I tend not to get too caught up on the "opportunity cost" of having an emergency fund since it's meant to be there in a "break glass" situation.

@krabbykrabby8818 4 жыл бұрын

Like the content, thumbs up👍🏾👍🏾

@cesarperez4449 4 жыл бұрын

This man is letting everyone know straight facts!💯💰

@rodrigooliveira-tu2mw 6 жыл бұрын

Greetings from Brazil. You so true.i like your Channel very much. Keep it up the Good job. Here in Brazil the people think the same way. It's so sad. Thanks .

@ballplayer4301 5 жыл бұрын

+Minority Mindset I love the content been watching your videos for a while but you should start podcast!

@lastgreatest7821 6 жыл бұрын

Don't Be A Debt Slave!

@gargoyles9999 5 жыл бұрын

Last Greatest exactly, be a debt Slaver. That's why I own stock in banks

@blacklyfe5543 4 жыл бұрын

U mean don't be a slave to debt

@dangeles95 4 жыл бұрын

I’m well on my way, and I am happy to say MM was my very first KZfaq channel I followed!

@SueEmmDee 6 жыл бұрын

Excellent advice, Mr. Singh. I think that everybody needs to know that owner's equity equals assets minus debts.

@chequethiasallie8976 3 жыл бұрын

To be fair, I get books from the library. There's a lot of people who don't pay for books for that reason.

@flowersfromh-evanlakshmi7577 4 жыл бұрын

Great information and advice but your beautiful personality is the cherry on top.

@831sabino 6 жыл бұрын

I play lotto 2-3 times a year and regret it after they take my money 💰. I just feel sad for the unlucky ones that buy lotto everyday. Nothing but the truth. Keep up the great work!

@ghorn1217 6 жыл бұрын

Unlucky ones? They are making a choice. Nothing unlucky about it.

@Hui44677 6 жыл бұрын

I see why successful ppl preach changing your circle of influence. Im currently 20 I've been intrested in entrepreneur ship for a very long time and its truly difficult not copy atleast a few habbits from your family members or coworkers but i do what i can to not waste my money on the stupid things i see them waste it on. I also drive why having a podcast of tai lopez, gary vee or grant cardone and then watch a few videos like this to try to balance out my mindset after being around the wrong ppl. Great video Jaspreet👌

@taoist32 6 жыл бұрын

Yes, surround yourself with mentors and role models. Also, change the way you talk to yourself. It changes your beliefs and attitudes. Create an environment that is conducive to achieving your dreams.

@komerwest5872 5 жыл бұрын

My Step son that's always broke can't pay bills says go large or go home. Now he and his family are about to be homeless.

@financialthesis8971 6 жыл бұрын

Well with those facts I'm getting off KZfaq and going to read hahah

@raydiancemusic 6 жыл бұрын

Financial Thesis lol

@InDatParish 6 жыл бұрын

Financial Thesis Unsubscribing lol

@emmabila3480 6 жыл бұрын

read the self-help books though

@pranksterguy1 5 жыл бұрын

About 40 years ago I was watching a comedian, name I can't recall, doing his routine. At one point he said "So I spent $50,000 on my 4 year college degree-I'm so glad I didn't do something stupid with that money-like buy a house".

@chrisrush3513 5 жыл бұрын

Starting a budget and following it is once of the best things I have done, I like seeing where my money is going because it has purpose now!

@manidk9891 6 жыл бұрын

Do people know any other channels like this great one?

@silvertounge2099 6 жыл бұрын

I had personal financing in my school but at the end of the day its hard to fight your stomach when the peeps stop cooking because your a college kid now

@ernstgoldman3634 3 жыл бұрын

Isn't it because they spend more than they make? It's that simple. There is nothing wrong with Starbucks or Gucci belt if that rocks your world as long as you earn enough to afford them. Everyone's earning power is different. But live below your means is the rule that applies universally.

@pringlelays159 6 жыл бұрын

Good thing i fully understand the equation for compound interest, and can solve for all the variables so i understand what my money is doing for me

@paulhackett5530 6 жыл бұрын

All people would be better off if 70 per cent of their income wasn't taken away (stolen) through taxes. Most don't even realize we are taxed 30 times every day. Don't believe it? Add up your federal income tax, state income tax, FICA, property tax, school tax, gas tax, sales tax etc...... You will finally know how u can earn $100k per year and still be broke.

@littlereesie 6 жыл бұрын

Actually, of the money I'll make this year, about 28% will go to taxes, healthcare, and retirement deductions... additionally, about 20% will go to charity... that still leaves the majority of my money as take home pay. If your city and state taxes are more than your federal taxes, it might be time to look at a city with a lower cost of living... just a thought.

@Ricardo_C 5 жыл бұрын

Taxation is theft.