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8 Reasons Why Most People Will Always Be Poor (It’s Surprisingly Avoidable)
Рет қаралды 209,739
Күн бұрынAre you one of those people who is constantly asking themselves, "Why am I always broke?"
Or, do you have a good job with a nice paycheck, but your bank account is always overdrawn? Well, in this video, I will share with you eight reasons why most people will always be poor regardless of how much they make. So, make sure you watch this video to the end to find out what you can do to change the situation.
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⏱ Time Stamp:
00:00 Introduction
01:50 You Do Not Save
03:05 You do not set financial goals
04:37 You always spend more than you earn
05:54 You spend too much on housing
07:19 You do not budget
08:53 You are waiting for someone to save you
10:00 You don’t have an emergency fund
11:00 You rely on one stream of income
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@slapdat.byteme Жыл бұрын
I left home with an engineering degree and $600. 19 years later, my wife and I were millionaires. 13 years after that, we retired as multi-multi millionaires. Didn’t start a business. Didn’t inherit any wealth. Didn’t poop out solid gold nuggets. I avoided these 8 pitfalls. I’ll add a couple “do’s” too: Avoid debt. When you do borrow $ for a house or car, pay it down aggressively. Live below your means. Pay yourself first, then pay your needs, then consider spending on wants. Invest early & often. And lastly, make sure your investments are providing you passive income.
@philmarsh7723 Жыл бұрын
That sounds familiar. I was financially hobbled by spending much of my adult life. After finally finishing graduate engineering school in 1997, I got a real job. Then came the 2000s where portfolios showed almost no inflation-adjusted gains. This was disheartening but I kept saving and investing, believing that the stock market would have its day in the sun. Indeed this happened and my situation is now similar to Slapdat's. People crow about how the stock market's rise in the 2010s is unnatural, but then they're forgetting the 2000s, where there were no gains.
@thodan467 Жыл бұрын
and who paid for that degree
@slapdat.byteme Жыл бұрын
@@thodan467 Not that it’s any of your business, but my parents and I did. How? 1) I commuted from home. 2) I went to a low-tuition state university. 3) I worked 20-25 hrs/wk through my sophomore/junior/senior high school years. 4) I worked a co-op job in college, which added a 5th year but allowed me to learn hands-on engrg and save $. 5) I drove an old beater car. With these decisions I graduated debt-free and substantially lessened college costs for myself and my parents. Whatever point it was you were trying to make (born with silver spoon in mouth, etc.) just crashed and burned.
@thodan467 Жыл бұрын
@@dreamleaf6784 His schools were paid by somebody their education was, the roads they travelled, the safety of those roads. There are a lot of costs they did not pay getting their degrees In the US i can go to the Univerity or college for free or "cheap"? Show me? I work for nearly forty years in the skilled industrial trades, so you wanted to say to me?
@dreamleaf6784 Жыл бұрын
@@thodan467 I am half way thru my bachelor's in computer science. Paid for 100% by Walmart(my employer). Not only free but I got COVID money, subsidized loans that I banked and make 3.75% interest on and I got a $2000 dollar brand new laptop for free. So that's one way. But there are more ways. That's one. And for the taxes. I'm saying if he made millions of dollars he for sure paid back more than what he took in taxes. And them, like everyone else in the world is building off what was here before us. Whether he went to school or not, he would of used the roads...you must realize that...
@clarkdunshee Жыл бұрын
Currently I'm just being smart and frugal with my money, I'm in the green 47% over the last 13 months and l've accumulated over $700K in pure profits from DCA’ing into dividends paying blue chip stocks, ETFs, index and mutual funds. However I’ve been in the red for a while now. I work hard for my money, so investing is making me a nervous sad wreck. I don’t know if I should sell everything, sit and just wait.
@Americanpatriot723 Жыл бұрын
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over $250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this present economy if you know where to look.
@CynthiaByrd648 Жыл бұрын
I completely agree. I have been consistent with my profit regardless of the market conditions. I got into the market early in 2019 and the constant downtrends and losses discouraged me, so I sold off. I got back in December 2020 and this time with guidance from an investment adviser who was recommended by a popular economist on a popular forum. Long story short, it's been years now and l've gained over $1.8 million following guidance from my investment advisor.
@MIchaelGuzman737 Жыл бұрын
@@CynthiaByrd648 Is there any chance you can recommend who you work with? I wanted to make this change for a very long time now, but I was very hesitant. I would appreciate any recommendations.
@CynthiaByrd648 Жыл бұрын
The thing is, I really don't like to make such recommendations. But there are plenty of independent investment advisers you can check out. I've been working with "LISA ELLEN SHAW" for about three years now. She has made decent returns for me and I believe she has the qualifications and expertise to achieve your goals. If she meets your objectives, you can continue. Always carry out your due diligence before starting out with anyone.
@MIchaelGuzman737 Жыл бұрын
@@CynthiaByrd648 Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
@neworleansjoe Жыл бұрын
We experienced the pinnacle of our era, but it is now gone. Like what happened to Rome, the corrupt administration will bring this nation to an end. My condolences go out to anyone who is close to retiring and may be worried about whether their pension will be enough to pay the rising cost of living. Insane fiscal policy, poor regulatory policy, poor energy policy, and poor foreign policy
@janeestrada007 Жыл бұрын
@Jane Catlin You can look up the financial advisor using her complete name on your computer; I hire her since she looks after the portfolios of renowned investors.
@philmarsh7723 Жыл бұрын
Interest rates too low for too long.
@divergentthg7925 Жыл бұрын
Is it really the corrupt Administration or the Scaredy Cats of the general public to take care of things like it needs to be that will bring this nation to the end
@thodan467 Жыл бұрын
Which corrupt administration brought rome to which end?
@Cthight Жыл бұрын
Do you mean germany? Because all those points are 100 % matching for germany. Energycosts are skyrocketing here because of our super studip politans.
@Songe467 Жыл бұрын
I spent years trying to distract myself from my crappy situation, which resulted in continuously spending money on new projects that never got finished, new books, new clothes, new art supplies, new craft projects, new plants, always looking for something new to distract myself from my own loneliness and misery. I think the one thing a lot of people forget though is that been constantly poor means that we are constantly buying cheap stuff. The cheap toaster that doesn't last a month, the cheap kettle that might last two. The cheap tv, the cheap fridge, washing machine, Etc. We can never buy extended warranty and never buy goods that last. This includes shoes, clothes, cars, etc. Even simple things like pens. Quality goods cost money. Then add in the fact we can't afford health insurance, home and contents insurance, car insurance, funeral insurance, life insurance and all the other things wealthy people probably don't even think about it. So if anything is lost, stolen, damaged, etc. We have to fork out money to replace it and not expect any help or compensation for it. Then there is education where even if you get a loan to study something, you do still need to pay that off. On top of rent, clothes, food, power, travel costs, study supplies... do I really need to go on? It does become something of a perpetuating problem. It is one I am finally starting to solve by making myself wait until I have the money to start buying quality stuff that lasts longer and reducing the constant need to replace stuff but it's something of a long, slow slog.
@nathanmoak1515 Жыл бұрын
many years ago people would say: don't bite off more than you can chew. i nibbled my way through life and i own everything i have. save money and pay cash.
@perfectionbox Жыл бұрын
the thing that mattered the most for me was to make investments instead of purchases.
@dasvinimistry9591 11 ай бұрын
Definitely have financial goals, I'm working on mine now and working backwards. Learnt early on to not spend more than I earn, my dad drilled that into me when I was younger!
@UnpredictableMeme Жыл бұрын
To be rich you will just need 3 things: discipline, planning and action. If have you these three, you can achieve whatever you want.
@wesleyskinner9477 Жыл бұрын
Also having a wealthy family member does a lot of the work
@jonnovember2136 Жыл бұрын
This guy caught me out cold!
@hrhtreeoflife4815 Жыл бұрын
And then just as you finished building your custom built house....a random actual tornado 😳 annihilates your house. Discipline Planning Action....didn't keep your progress in tact from weather. Now you're going to have to start again 🙄. You see...this happened to me. 20 years of Discipline, planning and action was destroyed and now...I learned that using this strategy will work again...but having to start over, isn't so much fun....but very neccessary.
@UnpredictableMeme Жыл бұрын
@@wesleyskinner9477 it sure does but it's not a requirement.
@gbb82 Жыл бұрын
@@hrhtreeoflife4815 What about having insurance for your home and assets in the event of a disaster? That is part of planning…..
@brightwriter Жыл бұрын
Do not let advertisers, social media, or peer groups decide for you that you need to buy things or have experiences. Enter the marketplace as a consumer only when you can identify exactly what you seek. If you have a vague sense of discontent, then you are easily sold goods and experiences by skilled and highly paid advertisers whereas you yourself have no formal history of studying advertising techniques and how to resist them. If an advertiser seems to discover what you need before you do, then DON'T BUY!!!
@ktvx.94 Жыл бұрын
I disagree with the last one partially. Sure it's good to have more than one stream of income in case you lose your job, and investing is a good option, but spread yourself too thin with a million side hustles and you're not gonna be good enough at any to make any meaningful progress. I don't think you should have as many income streams as possible, just more than one and try to maximize the potential of each. The other points are great imo.
@jeremyhicks2449 Жыл бұрын
Life ain't fair, win anyways. -retired U.S.A.F. Chief Master Sergeant Terry Savoie
@dion789 Жыл бұрын
It can get a bit annoying when your colleague complains about how high his rent is, when he shares the cost with his girlfriend while you pay the same amount on your own.
@One-Crazy-Cat Жыл бұрын
My housing mortgage is 10% my income and the only payment I got. I pay off all the cards monthly and keep minimum of 10k in my checking. My retirement is set. In the later 80’s I was impressed by a man in the most base model 1979 ford f150 with a 4 on the floor, coveralls and couple dogs in the back. This old truck had some dents and was showing rust in places. He had a rifle rack in the back and spoke like the rest of us. That man was the richest man in the world and would still be well over 250 billion today His name Sam Walton ww2 vet and founder of Walmart. I live in the low end of town and drive 10 year old paid for cars never mind the fact I could write a 50k check for a new one or finance a Lamborghini. Want guess what I drive in 2023? 2011 F150 base model and I loved every mile. Thank you Sam!
@williamhanlon8159 Жыл бұрын
Never carry debt and spend less than you make. That's it!
@smfarrie2943 Жыл бұрын
Good luck with that. As someone who’s had significant medical debt.
@edgarLV Жыл бұрын
You didn't mention car. Especially new car. It is just huge drop of money in "garbage". It looses it's value and have quite high service expenses.
@quadaar1017 Жыл бұрын
Why am I Always Healthy 🙃 Strong 💪 Wealthy 💰 Prosperous 🤑 Gratefull 🙏 Blessed 🙌 Thankful and Happy!?!?!?
@lorettaknoelk3475 Жыл бұрын
I mentioned to one guy how my favorite Starbucks drink has more than doubled since 2010. I told him how much the drink was. Instead of being impresses I keep track of money, he asked me if that was the most expensive drink I ever bought.
@uniqcoach4277 Жыл бұрын
Thank You ✨
@otheremail123 Жыл бұрын
The video doesn't mention addictions, I guess that goes without saying.
@susanrichardson3220 Жыл бұрын
Calling bs on this as you cannot save if your income barely covers housing, transportation expenses, groceries, and utilities (incl. phone and internet these days)...saving your left over change will not cover unexpected expenses, but yes, it is a good goal to have. well above half of US citizens are paying over 30% of income for housing and housing costs are not decreasing.
@Kennedy4OurCountry Жыл бұрын
The habits that are straining my finances are feeding cats. My cats, the 3 who have homes but show up in rain, snow & heat 2 times a day to eat...I can't live with myself if they go hungry.
@xejelah Жыл бұрын
Got a car? Email local business and have them pay to put ads on your car. It can help pay for the car and pay for your cats.
@conanclarke9308 Жыл бұрын
Some people are more luckier than others. But one has to make the best the hand theyre dealth with.
@slapdat.byteme Жыл бұрын
As someone famous once said, “I’m a firm believer in luck and I find the harder I work, the more luck I have.”
@rickw3517 Жыл бұрын
You must make your own luck.
@conanclarke9308 Жыл бұрын
@@rickw3517 I agree one must make their own luck at the same time, because life is too short to feel sorry for one's self. But luck is very under rated. They're things that are out of our controll that make us the humans we are today for better or worse.
@Stevesguitartraveling777 Жыл бұрын
As for the housing part that’s gonna be difficult as inflation is so high on the rise that you can’t find anything under $1300 a month on rent anymore. No one can afford to make a living on minimum wage let alone $16 an hour now. It’s not a livable wage that’s why I’m learning to get rich and watch your videos is because I’m sick of living paycheck to paycheck or being behind on bills that to me is like the system is not taking care of it’s workers.
@shaunmckenzie5509 Жыл бұрын
Get a higher paying job
@Stevesguitartraveling777 Жыл бұрын
@@shaunmckenzie5509 I am. I’m not able to get my foot in the door until April
@philmarsh7723 Жыл бұрын
I rented for $1500/mo in West LA up to 2021. Yes, that's expensive, but cheap relative to most LA rents. The reason is that being single, I rented a bedroom+bathroom in a shared house. I did this for many years as I moved around the country. I was able to buy a house with cash about 8 years after starting working in 2004.
@Stevesguitartraveling777 Жыл бұрын
@@philmarsh7723 when I lived in San Diego in 2019 my rent was $1640 in Poway which was the affordable range in San Diego what’s crazy is last year on June when looking for apartments in Cincinnati the rent was $1630 for the same apartment I rented in 2020 for $1170. It amazes me as to how high home prices have gone up over the past few years. Not sure if we’re a Third World country or we’re just overpopulated.
@philmarsh7723 Жыл бұрын
@@Stevesguitartraveling777 I'd guess that our housing problem is mostly human-made. Poorly-designed regulation, especially regarding zoning and land use. I'm a homeowner, and I'm going to be lobbying AGAINST further restrictions in housing because I think it's bad for my city's economy. I find it irritating that homeowners think it's OK to stop others from enjoying what they take for granted. I'd say that if you worry that much about your home's value that you have to restrict construction of new housing, then you cannot afford to own a home.
@mzamosithole9830 15 сағат бұрын
This is one of the educational content I have ever come across.
@cindyeisenberg8367 Жыл бұрын
I am on disability. But, live in inexpensive condo, drive a super old car, don’t take vacations and pay my medical bills. I don’t get Medicare right away. So, the psychiatrist and medications are out of pocket for now. But, I at least put away $25 a month. That adds up. Even if I can only save $5 I will. I also have a budget. So, I know what is coming out each month. I also put enough money away, so that I could live without income for 5 months, fix the car, fix the apartment when I had a flood. I’m paying the air conditioner off. But it should only be for 10 months. I got it at 18 months interest free. I also had to replace the water heater and electrical panel. I also have done my nails and participated in hobbies. But, if I couldn’t, I would stop doing that for a while. Also. I try not to buy anything I don’t need. I don’t expect anyone to come and help me out. I know what it’s like to live tight. I have to do that. Because, I am waiting on a high special assessment on my condo. Rent is so high. I had to get a place to live. Even with all of the expenses, owning something is cheaper. My condo doesn’t have any amenities like the rental. But, at least during hard times I can keep a roof over my head. I have schizoaffective disorder. So, sometimes I spend more money than I should. But, I have people to watch me when I get that way. So, I am not going to judge somebody else. People like me can get homeless. I’ve seen it. I also know people who always have money. Of course because of my disability, I don’t have a lot of money. That’s okay. Because, I have a roof over my head. Not having money is scary. Because, I don’t want to lose the condo and be homeless. I live in a low income place. But, my next door neighbor became disabled from an accident and she may lose her condo.
@aliganyiraherbert5713 Жыл бұрын
I believe it's the financial mind an individual needs and not chasing after money.
@ernestgreen254 Жыл бұрын
Agreed 💯
@jt_rooster3228 Жыл бұрын
Yep. It's all about financial literacy, much different from a scientific mindset.
@florencemagangan651 Жыл бұрын
Be careful don’t get scammed with bitcoin
@Spartan11117777 Жыл бұрын
See, by yourself, you can save...but other Family members want you to spend it right away on their behalf. They want the WANTS first over the Needs.
@danielslagle6440 Жыл бұрын
Change the mentality of buying, buying, buying to saving. Make it your past time. I shop at thrift and Goodwill stores and yard sales. When there's what I regularly eat on sale I'll stock up months worth and if it's half price then that's doubling my money right there, which, is what investors try to do, right? Make it a part time job or a challenge to live on nothing or dang near it. Embrace it rather than resist it and just enjoy seeing money stay in your pocket and growing. And I am a proud dumpster diver. I read there's some in places like NYC that have become millionaires dumpster diving and incredibly,I can see that. If you find something and resell it and make $20.00 then that's just fun! And don't worry about what people think, they first don't care about you anyway and second, while they drive by you in their car they are stuck making payments on, you're loading your paid - for - with - cash - car with free stuff! It's all buy and resell anyways, right? Macy's in New York does it, Walmart does it, you're just getting your stuff for free. If you're lucky you'll come across a mad wife throwing away all of her cheating husband's tools...oh man, JACKPOT! Just try not to keep all of them for yourself!
@bieragaino440 Жыл бұрын
When I was married , We were always broke. I had to borrow food from others while away. I had to get donated clothes when away in work . Even I made 100K dollars a year back then. Now I hardly ever get 20K year . I have always money left every month even I pay child support. But my all my exes are always broke even they have 100K a year. I sometimes have to give them money though they call it a loan I know they will never pay.
@patrickprendergast9589 Жыл бұрын
so u are saying dont marry the poor or have children
@bieragaino440 Жыл бұрын
@@patrickprendergast9589 Some women cant figure out value of others work. Well she is gold digger.
@williamlouie569 Жыл бұрын
You are their money machine, and will drain you dry if you let them.
@xejelah Жыл бұрын
@@bieragaino440 The "gold digger" is someone who outearns you and is taking care of your kids?
@serasebilo Жыл бұрын
very informative...........
@bisi1980 Жыл бұрын
Childcare is what is making me poor. I pay 300 dollars a week for childcare. Can't really save.
@Nicole-kx9vg Жыл бұрын
🥺
@stevenblack6049 Жыл бұрын
The only thing that actually kept me Poor was the actual fact Actually that I trusted my Wifes family members with all of my own personal Newly Created Business Ideas and various other New Ideas for Products lasting fourty years now and now have to get my own Créative Validations through various other types of things Inventively in 2023. Its not easy to actually be able to become extremely wealthier,but never actually recieve thé actual Exponential Wealth that was actually earned successfully throughout fourty years consistantly. But its great to actually know that becuase of people Like this,Im actually not a loser in any types of way Within any given levels. Thanks for thé Memories.
@eddierobles2137 Жыл бұрын
Good old financial common sense . Thank you for this video . Building wealth takes time and effort for most people . Stop chasing the wind , like crypto currency .
@alkh3myst Жыл бұрын
Tell that to the Bitcoin millionaires.
@robsmith6215 5 ай бұрын
I agree with everything except writing down everything you spend money on….its time consuming. Everyorre uses credit cards to purchase almost everything these days for the rewards. As long as you pay it off in Full every month. The statements tell you where you spent your money, maybe not in detail, but enough to show you where you’re spending too much.
@bothompson-ov6ju Жыл бұрын
Yes people got take responsibility for their own f*** ups but that's me getting the fact that there's a lot of help getting to that poverty stage and not very much help to get out
@lplyons8685 Жыл бұрын
I love and am working on #7 . If we can do all these things, having a support group is important also.
@vvalasek Жыл бұрын
Agree
@shaereub4450 Жыл бұрын
I max my Roth IRA, and invest $25/week in a taxable account that's "paired" with it.
@ernestgreen254 Жыл бұрын
Awesome 👍🏿 content thank you
@dueymiller5795 Жыл бұрын
Where do I get my 12 minutes and 27 seconds back? How about trying this? Don't spend more than you make. Don't be in debt. And once you follow those two rules you will have something called savings. So buy everything out right except for property. I just made you rich.
@judymcpheron5955 Жыл бұрын
Sound advice.
@howellwong11 Жыл бұрын
Seven of the eight, I have no problems. I do rely on only one stream of income. All my other assets are just gravy.
@TheTravelDiaries486 Жыл бұрын
Hi Sir I love your video great thanks 🎉
@toarerewalker6146 Жыл бұрын
Thank you, I appreciate it
@ismaelhall3990 9 ай бұрын
I needed to hear this.
@thehatefull1761 6 ай бұрын
Im 40 and worked all my life and still dont own my own home. Went to trade school as a mechanic its all i know but cant make more than 38000 a year. This industry is dead. I got 401 k but even that with retirement is not looking good. Anerica is screwed. They talk about population decrease but how am i supposed to raise a family when i can barely support my self. I quess when i die everyone can just buy a new car because their are hardly any mechanics left and prices for repairs are outrageous but the mechanics dont see any of it but they corporations complain about not having enough techs. What a cluster
@florianpierredumont4775 Жыл бұрын
My bank's agent : < Well, how much money do you have, for savings ? Me : [saying the number] Bank agent : OO''''' Wow... you're a good and brave working ant, aren't you ?... Me : I thought everyone had that much ? Bank agent [trying to understand how I could save so much under 30 years of age] : How much exactly is a "big purchase" for you ? Me : 20 bucks. Over that, it's not reasonable. Bank agent : That's why you have that much money, sir.
@thodan467 Жыл бұрын
going cheap can be expensive
@annaahmed2564 Жыл бұрын
That is very helpful tips thanks for sharing keep it up good work
@alexjacob612 Жыл бұрын
Tanks for Des information.🌹💝 It helps a lot
@abassmgani Жыл бұрын
Very good lesson
@matthewbrown6163 Жыл бұрын
The old days of retiring at 55 - 60 & living to 80 are long gone as you can add on 10 more year to both numbers. Superannuation in Australia = 401K in USA & during the Pandemic people borrowed from this fund to survive job losses & lesser hours during the pandemic years. Now most people were on blue collar wages so = week to week income. After graduation from university my income doubled & my parents advised me to enjoy a better life but not go & splurge on my lifestyle choices = drinking away or living the lifestyle of the rich.
@howellwong11 Жыл бұрын
I don't know what year is your old days, but I retired at 68 in 2000 and here I am at 90. My pension and SS is enough to cover my expenses so I'm good. One suggestion from me is to have a good medical insurance in your retirement years.
@matthewbrown6163 Жыл бұрын
@@howellwong11 1960's+ You were around a generation who lived through the Depression & whilst you were on the tail end - you were still living the struggles of WW II. I had an old work friend who loaned money from his retirement Superannuation (like your 401K) to his daughter & she struggled to pay it back as fast. I looked at the books & found she was just bad at book keeping as she had misplaced money. The old age pension is about $330 USD a week here in Australia with alot of savings for seniors. Medications are cheap for them at $3 USD per item a month. But still people will struggle as power / gas prices soar. Too many people took their retirement funds to splurge on crap rather than spend less. You lose hours from your work ? Get a 2nd job or income - I worked 2 casual jobs between contracts often.
@howellwong11 Жыл бұрын
@@matthewbrown6163 Yes. I remember Pearl Harbor. I was only 4 miles away and 9 years old. The best time of my life was the six months I spent at Northwest Cape (Exmouth) in 1968. Australians are crazy, but fun to be with. Good to see medical service to be reasonable in Australia, not so in the US, but I have medical insurance for $7,000 a year. It pays for everything after $7,000, so essentially, medical expenses cost $14,000 per year. All in all, the US is fairly cheap for what we get.
@billyfowler3471 Жыл бұрын
What's left to save
@xejelah Жыл бұрын
Your sanity
@Nicole-kx9vg Жыл бұрын
😐 yep
@anngui6725 Жыл бұрын
Thank you very much.
@chrisodebeek787 Жыл бұрын
Money with inflation is nothing. I do invest in bricks and gold. Simple. If I had a greater income, eventually some amount I can play with would be to try other kind of investment. Am happy with what I achieved till now. And grateful.
@blackhistoryonsteroids8196 3 ай бұрын
Yes all of them.
@user-yu7pm7fe7z 8 ай бұрын
Thank you everyone I am new here, I just get the information that I have been looking for.
@PracticalWisdom 8 ай бұрын
I'm glad you like the channel! We have a lot of videos you can find helpful :)
@Pastorjasoncox Жыл бұрын
No money More bills than money Pastor wants money
@quantumAnarchist Жыл бұрын
wtf, how do you spend only 30% of money on housing, thats basically saying everyone in lower jobs should just live in a cardboard box
@yaguking Жыл бұрын
6:20 %30 of income being able to cover housing in this economy? Only way that would be feasible is if lived in the ghetto. I left that, and I will die before I go back.
@alexanderaleksandar2030 Жыл бұрын
But think about it, the last Shirt doesn't have any pockets 😉
@owenwartovo9318 Жыл бұрын
Best video
@joez203 Жыл бұрын
In the good old USA, there is really no reason for you to be poor. I don't mean you hit a rough patch where you are down on your luck for a few months. We've all been there. I'm talking about the people who are "poor" every day of every year. The only reason for that is because you make bad choices, over and over and over again. If you want to avoid poverty, do three things. Three very SIMPLE things that you have complete control over. 1. Get a job 2. Don't use drugs 3. Don't have kids until you're married Do those three things and you won't be poor.
@xejelah Жыл бұрын
always easy to tell the young, single, and stupid. Marriage changes nothing, most guys don't take care of the kids they create either way. All jobs aren't created equal. Your income has to be higher than you're expenses. Housing and food is going up, your pay isn't. Most people who are poor aren't on drugs - those are expensive. It's hard to keep the slave trades going without 'em.
@dragondancer1814 Жыл бұрын
Then why am I still living “deep blue collar” (I refuse to call myself poor) even though I’m working, had kids after marriage (and stopped at two kids), and have NEVER used drugs? You got a simple answer for that?
@billyturner2396 Жыл бұрын
4.Stop voting for democrats
@thodan467 Жыл бұрын
1 stupidest advice i ever heard. you must first find and get a job worth doing 3 tell that the widow and widower
@dragondancer1814 Жыл бұрын
@@thodan467 Or the divorcee, or the spouse of someone who gets arrested and ends up serving time!
@AmritDas-hq9ox Жыл бұрын
Send more videos about business
@aaronn.1088 Жыл бұрын
I would have plenty of money to invest in my future, if the damn Government would quit taking my money.
@timothygibney159 Жыл бұрын
Lol on 30% on housing 😆. No mortgage anywhere is less than 2200 a month in 2023
@jkkennedy8919 Жыл бұрын
That’s a lie. Depending on the size of your house. I pay $1,600 a month I live in Maryland 5 minutes from Washington DC
@xejelah Жыл бұрын
@@jkkennedy8919 And that's 30% of your paycheck? Otherwise, the comment is pointless.
@larryjackson6075 Жыл бұрын
I have a money tree 🎄 in the backyard, so I don't have money problems. And, it's real money, too, knock on wood.
@foureyedchick Жыл бұрын
The 30% rule does not apply for people on S.S.D.I. 90% of the monthly check goes to the landlord. You got only 10% to play with for the rest of the month.
@dcg590 Жыл бұрын
But you get free money so you can’t complain
@GLang-kq5lw Жыл бұрын
Good advises are here. Thanks! It is so important not to become slave of money. Instead to be King over the money. A very important spiritual advise in Proverbs 10:22: The blessings of the Lord (God) makes rich and he adds no sorrow with it. My advice... Trust God, build a relationship with Jesus Christ (not with religion) and He will give you freedom, wisdom, joy and also success. :)
@Synic08 9 ай бұрын
Yeah.. partners need to want the same things…. Thats it. Dont work hard to try to get something expencive that your other half doesnt care about, because they will find other things to spend it on…. If its not both of your dreams, then it will always be just a dream.
@PracticalWisdom 9 ай бұрын
Wise words, that's true!
@pastorisaacsajin6723 Жыл бұрын
Let's talk
@razrsliq7623 Жыл бұрын
Please do a video for 3rd world countries where the money has very little value and it's extremely difficult to save.
@xejelah Жыл бұрын
We'll be there soon
@mercedeswilkins9085 Жыл бұрын
To be rich do the multiple of 10. 10x10=100x10=1kx10=10kx10=100kx10= one million dollars 💵💵💵💵
@ericneely-nt7qb Жыл бұрын
I agree to a certain extent that America 🇺🇸 may have reached the pinnacle of success in this economy. But alas all is not lost, we can be successful as individuals but we may have to adopt a minimalist lifestyle. This is gonna be hard for some because they're in their comfort zone. Everyone is going to have to tighten their belts...Hell theres no way around this fact.😮😮😮
@Alpacajack Жыл бұрын
These ideas are super obvious, and this video is not helpful
@jerseysatak5478 Жыл бұрын
Everything skyrocket up prices but wages slow like molasses throught the decades
@theodoreroberts3407 5 ай бұрын
I'm not young and there are programs that if I invest (social security), I can go to prison (not like there is enough to invest anyway). So maybe your plan doesn't apply to everyone. I see this a lot, but none of you will do the time with me. The law says not more than $2,000 on hand. There is almost nothing that can be done with that amount.
@lauraprincipato8079 Жыл бұрын
Why would you quote buddah? (At the 9:35 mark)
@benedictcontawe3355 Жыл бұрын
5:53
@marielouisechateaubriant5995 Жыл бұрын
The video is too long. As soon as the reasons are writen, call me.
@RustyNinja100 Жыл бұрын
1 answer capitalist greed
@mnotlyon Жыл бұрын
Are you saying you're poor because someone else is rich?
@RustyNinja100 Жыл бұрын
@@mnotlyon I'm not poor but many are because their value is being stolen
@RustyNinja100 Жыл бұрын
@@mnotlyon corporations steal billions to give their executives shareholders and paid off politicians all the excess. They also spend all that excess lobbying against regulations that protect the planet, people, and economy.
@mnotlyon Жыл бұрын
@@RustyNinja100 I don't believe you. I've never met a person with money that doesn't understand how money works.
@RustyNinja100 Жыл бұрын
@Dave Lyon did you not read the rest of what I said? This also happens between countries. Rich countries with corporations extract wealth from others. It's almost a 1 way street.
@iketheranter9126 Жыл бұрын
Nothing but a scam in the comments section.
@ZippyChiko Жыл бұрын
It’s a good video, but the music is too loud and annoying. Meh..
@pkendlers Жыл бұрын
If you do not have self control, do not get a credit card. Words of Wisdom. Think of it as Credit Crack, not cards.
@armandoruiz8758 Жыл бұрын
America is not a country America it's a continent with 35 countries. The US government is actually using the name of the continent. We are US citizens. Citizens of the United States. The United States is a country but America is not a country America it's a continent with 35 countries. The whole entire continent was already named America after Amerigo Vespucci in the year 1507. Everyone on the American continent is an American likewise Asia are Asians Africa are Africans and Europe are Europeans.
@jc-wd5bu Жыл бұрын
spend too much on car payments and soy lattes
@ownsilver Жыл бұрын
Most folks are undisciplined finically illiterate and reactive to market conditions, with all these overpriced market conditions I have been paying cash for un-loved PM’s since 2002 PM’s have no counter party risk or any liability it needs no maintenance
@xejelah Жыл бұрын
What's a PM?
@ownsilver Жыл бұрын
@@xejelah Precious metals
@xxcelr8rs Жыл бұрын
Buy duplex, rentals on your block. Buy and drive old car. Learn how to cook at home. Paying rent is foolish. Time will go by. That is the one constant.
@brianhurd9779 Жыл бұрын
It’s hard to change the federal government
@vickidimi2972 Жыл бұрын
😂😂😂 sorry, I had to laugh at the rent tip. Considering this was created 3 weeks ago, I would assume you live in a cave?? I would LOVE to see a place less than $900/month that’s not completely run down and in a safe area in 2023…
@calvintraylor1203 Жыл бұрын
Does TESLA exist without the Obama stimulus package of 2009? The answer is no, but the American people don’t know that. Corporate America abandoned Musk when Obama gave them tax credits and investment money when Toyota left, but I’m sure that was government tax payer money that went to waste.
@mca9169 Жыл бұрын
American dream is gone. You supposed to be happy in the usa. Instead you feel insecure .rising health care insurances. Car insurance rent,home to expensive need 2 million to retire etc etc
@stephaniebailey4236 Жыл бұрын
We don't need 8 reasons for poverty. Money is the problem, and money, and the money system is on its way out, along with all of it's cronies. The hand of The Most High is at work correcting things.🙂👍
@xejelah Жыл бұрын
Remember that when you're under the new dictatorship
@omeemo7003 Жыл бұрын
If you decide that you want to work for a living then you will stay poor for that one reason alone😴
@48038 Жыл бұрын
1000% correct statement
@MrJflomario Жыл бұрын
Practical Wisdom, lol.
@bothompson-ov6ju Жыл бұрын
Because corporations only care about what investors are satisfied
@jasperpike242 Жыл бұрын
More than one born every day. MUGS
@WhatYaReading Жыл бұрын
You are poor because you don’t have money to save and invest😮😮😂
@bothompson-ov6ju Жыл бұрын
How many pounds of food do you think McDonald's goes away every night just in your that's a lot of people that could be fed that are going hungry every night money keeps the two apart
@bothompson-ov6ju Жыл бұрын
What's the one thing nobody's got enough of money so what's the problem Money
@juancavazos5901 Жыл бұрын
It’s easier said than done. Family screw each other over, loss of job and have to take a minimum wage job etc. truth is without someone helping in anyway like a college student not paying rent or helping mom and pop with a lot of money. The answer is depends. In the 80s and 90s life was sooo much easier and many jobs available. Now nope. Now with society not having feelings or sympathy or a heart for others it’s tough. People like bosses are assholes especially when it’s a guy. If it’s a woman and she young life is easy as pie if you use it correctly.
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