What The Experts Get Wrong About Spending

Рет қаралды 2,802

2 ай бұрын

I've seen hundreds (and hundreds!) of people dramatically increase their monthly savings once they understand this magical math around spending.
Dave Chilton, The Wealthy Barber and former Dragon on CBC's Dragons' Den, talks about a key spending insight that most people, including many sharp people, just don't get.
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Пікірлер: 9

@evanhernder 2 ай бұрын

So glad you're posting here, Dave! Might I suggest keeping the captions off your edit. KZfaq automatically creates captions that can be turned on. Might save you some time also. Cheers!

@markhermann3074 2 ай бұрын

Well said. I like the advice of Ramit Sethi (paraphrased): Spend lavishly on things that bring you joy and cut mercilessly on things that don't.

@danbarrett6387 Ай бұрын

Thx for your common sense approach to money....

@SirMango 2 ай бұрын

Tracking my expenses has been eye-opening. Just knowing what I spend on each month helped me be more conscious of what I can and should cut back on

@CanuckDividends 2 ай бұрын

Ok what is not to like?? Your videos always make me chuckle and they are so accurate. Great advice for anyone of any age

@theteacherandbeyond 2 ай бұрын

My Dad gave me your book as a teenager and I read it! I knew that no matter what I'd be able to retire at 65 with $1 million and always worked to make that happen in my RRSP as a "worst-case-scenario", even though I went to university for a long time and in a field that is not seen to be a high income earner, as a classical musician. Now, is $1 million going to have me sailing on a yacht when I'm 65? Well no, but I will have far more than that because I started young and while I have a defined benefit pension from my job (aka very little honestly), I know that I'll still be fine because I STARTED young and followed your advice!!! If I had paid off my mortgage, there's no way it could've made up for the gains I've had by investing AND learning how to save money AND invest it (the key!!!) over the years. Pretty cool to find you on KZfaq 30 years later. And yes, the little things do add up, but also be mindful of the big purchases too that many spend 2 seconds thinking about only to be locked into a $1200 payment for a vehicle, then they HAVE to skimp on the little things and feel like there's nothing left.

@DiabeticDawg Ай бұрын

Chinese households have a savings rate of 40-45%. Pretty impressive when compared to North America and approximately 60% of the population that can’t afford an unexpected $1000 expense.