The Problem With Cutting Down Your Expenses

Рет қаралды 1,638

Wealth for Women of Color - Lissa Prudencio

Күн бұрын

In this video I cover an alternative view point to excessively being cheap and frugal. Even though spending less can be a great skill when needed, it can also be correlated with a scarcity mindset and other limiting behaviors. It's all about balance and being intentional about your finances! ✨
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▻▻ timestamps 🕒
00:00 Start of video
00:34 Intro
01:06 Being cheap vs being frugal
04:31 The scarcity mindset
08:11 My example of scarcity
12:11 What to do if you have a scarcity mindset
13:43 4 ways spending less can negatively impact your life
14:06 Lower quality of life
15:51 Negative effects on mental health
18:28 Stagnating your growth
20:01 Impact on your personal relationships
►► DISCLAIMERS
⚠️ AFFILIATE DISCLAIMER: Some of my videos and descriptions may contain affiliate links and sponsored content. This means I may earn a small commission if you use these links, at no extra cost to you. With that said, I only recommend products or services I have personally vetted or used, and that I think may be helpful!
⚠️ CONTENT DISCLAIMER: This content is strictly for educational and informational purposes. Lissa does not provide legal, tax, or investment advice. While she is an Accredited Financial Counselor®, her content is not intended to offer investment advice or serve as a substitute for personalized financial guidance tailored to your specific situation.
▻▻ hi! 💁🏽‍♀️
I’m Lissa - an Accredited Financial Counselor®, personal finance expert, speaker, and so much more ;). I started Wealth for Women of Color because not enough women of color have a welcoming space to openly learn about money and building wealth. Join my community of 🏆winners🏆 who are building wealth, by subscribing and checking me out on other platforms.
💌 p.s. keep acquiring assets!
#personalfinance #wealthforwomenofcolor #financialeducation

Пікірлер: 9

@veronikap9641 2 ай бұрын

Thank you for a sensible video with a good perspective! I would like to add one more thing which my grandmother taught me - "we are not wealthy enough to buy cheap things". Meaning, if you try to cut costs too much and buy something too cheap, it'll break and you'll need to replace it soon anyway. Investing in a quality product is actually frugal and saves money. I am about as white as people get in terms of actual color (short of being an albino), but I don't think you dedicating channel to women of color as a disadvantaged group is in any way racist. It certainly did not offend me. And good advice is good advice, has nothing to do with skin color. In my view, skin color should have to do with one and one thing only - makeup colors and amount of spf you need (and I need it all).

@kittymogulco 2 ай бұрын

Your grandmother was brilliant 🙌✨ my dad had a similar phrase in spanish to express that same money trap... but your grandma's goes even deeper: Loved it 💕✨ Thanks for sharing

@wealthforwomenofcolor 2 ай бұрын

Aw thanks for sharing that!!! That's spot on -- sometimes spending more for quality IS the smarter financial move!!

@kittymogulco 2 ай бұрын

@@wealthforwomenofcolor omg hi!! Thanks so much for replying 😍 I just discovered your channel and I'm already binge watching 👏 You have such an inspiring background in finance, and as a fellow latina I'm super excited about watching more of your tips and tricks for better finance. Thanks so much! I'm so in awe 🙌🤩

@wealthforwomenofcolor 2 ай бұрын

@@kittymogulco appreciate all the love!!! happy to help in any way I can - if you ever have money questions just drop them in the comments!

@kittymogulco 2 ай бұрын

@@wealthforwomenofcolor Thanks so much, that's so sweet of you! 🌷 I'll definitely be leaving more feedback and questions on your videos 🙌✨ Best always 🌈