WHAT MAKES POOR PEOPLE POOR? WHY DO THEY STAY POOR?
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- Опубліковано 27 чер 2024
- WARNING: COMMENTS WILL BE KEPT RESPECTFUL AND POLITE OR WILL IMMEDIATELY BE SHUT OFF. What Makes Poor People Poor? Why do they stay there? Why are 90% of people unprepared for retirement?
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1. Live below your means
2. Delay gratification
3. “ consume and make the other guy rich, invest and make yourself rich” - Napoleon Hill
4. Be persistent, focus, passionate
The above has made me rich. Left school at 16yo with no qualifications…but I had a great work ethic.
Saved $30k before I was 20yo.
My now 31yo daughter the same. Left school unqualified by 16yo but same great work ethic. She saved $160k by 22yo, already has her first home.
We both don’t drink alcohol and hate shopping !!
Some people I know are always broke, then they got a $25000 gift from a deceased relative and instead of paying off debt they blew it all on a massive trip for their family of 5 plus brought grandma along...so she could babysit while they went out on the town each night. I just shook my head. It was gone in one week, and they were once again broke. POVERTY MINDSET.
Happens 80% of the time
My girlfriend sister who is always broke had an accident, and got a settlement of 186,000, she blu it in less than a year and now she’s broke again. Nuts
WOW !! i know a woman like that,, and my X was like thhat too,, and that's Y she's my X...
I know someone who got a nice settlement from a wreak and bought new furniture and bedroom furnishings because" they deserved it". They blew through that money so fast and now ate filing bankruptcy for the 2nd time. I just don't get it. I got an unexpected check from work and when my husband was telling our grown son about it he asked, " So what are you paying off?" Yes we raised the right! He thinks like we do. Extra money goes on debt if we have any. Retired and living just fine on our SSI. Got retirement accounts fully funded along with savings. So blessed that we have been frugal.
I know someone who was badly injured in an accident and waited years for a settlement. When it came they bought a broke down trailer miles from anywhere on a plot of land. Bought a brand new Shiney truck for more than the trailer. Brokety broke broke after 3 months. Went partying in the next county, their truck got impounded, couldn't afford to get their new truck out of impound and lost it at auction. So they're stuck in a run down leaky trailer with no electric or heat. No transportation and no jobs within 30 miles. They beg for money online just about every month they thought they'd be on easy street with her 300 $ a month permanent disability.
I am a senior with an extremely low income (HUD scale), no debt, and still able to save every month.
PP, I had a meeting today with a little old lady in her 80s. Her husband died recently. He was a blue collar worker, no big wages. She taught home economics at local school. They lived frugal and below their means. He started investing a little in their early marriage. He died
recently and she learned that she had 2 million she didn’t know about. She donated 100k to our nursing school for scholarships. I was so touched by her generosity. No flashy incomes, just 45 years of faithfully going to work and living below their means.
this is beautiful ....I just cant help but say she and her husband should have been 100% aware of all the finances like it should never have been a suprise....
He day traded as a hobby. She didn’t know how much he had grown that account over the years. She knew about their other money.
@@sussannerandall85 You are absolutely correct.
This is exactly how most millionaires in America are made. It was a book written several years ago, called a millionaire next door people that you would never know where millionaires they drive a used Ford pick up. That was the most common truck Drivin at the time by millionaires, not a Porsche, not a Ferrari.
@@joeglennaz my aunt took me to her country, where workers wore smart, pristine uniforms and many member drove a 15+ yr pickup truck, jeans and a henley type shirt. She pointed at them and said CEO of , owner 20 McDonald’s, and on she went. You would never know by the way they looked. She said of of the best dressed are the poorest. Wow!
I spent my 20's being stupid. I spent my early 30's recovering from stupidity. And I spent my 40s and 50s creating wealth. We all have lessons to learn. Hopefully sooner than later.
Same here! It required a change by renewing the mind. My poverty back then was associated with my "mind set" back then. I can see that NOW
I'm a railroader and make great money but live in a house, paid for, worth maybe 150k at 1ksqft. I always get laughed at for not owning a half million dollar home like the rest of society making well over 100k a year. No debt, everything paid for and over a mil in retirement on top of my railroad retirement.
That’s awesome!
So proud of your hard work!!! I so can relate to this comment. I make a multiple six figure salary as a psychologist and run a FT Ebay business in Chicagoland. All I get is why you live in a small 1 bedroom townhouse vs mansion, why don't you have kids, why you drive a 2010 Lexus vs a brand new car or lease, why do you have an Ebay store if your rich and what do you mean you are going to retire at 50 when your 45 now with no student loans or mortgage....they answered the question of retirement by not looking at the stupid questions they ask. I live way below my means & laughing all the way to the bank while they are broke
That’s awesome great job!
@@TJ-yv3kp I work in Markham IL. Hard to be frugal anywhere near Chicago or the suburbs lol.
@@michaelh370 Haha. Yes, living in Hoffman Estates and working in the city isn't cheap for me.
I’m poor because I made some very bad choices when I was a young adult. Now I’m paying the financial price for that. No excuses. I own it. I do try to do better now.
My 90-year-old father lives in a senior community, and complains about how all of his friends are acting old. :)
My mother too! (95) She says all they want to do is play Bingo!
We love the simplest life, DND, video games, hiking, working out, cooking mostly at home (99%,). We have never been happier.
Being hooked on cigarettes, pot, and / or alcohol will suck up your money
U forgot lottery 🎉
U know . . Just one more 😢
So will overeating, compulsive shopping, gambling, online porn/prostitution, ect, ect ect Destructive addiction takes many forms. 🙁
I'm a retired assistant teacher for special education. I chose this low paying profession because I wanted to make a difference and pass it on. I take responsibility for that. However, living a humble life is also my spiritual path. I am happy. No pity party here...
As someone from a long line of sped teachers, thank you. Not an easy job.
@@cognus3372 Bless you...😭 (Wish we paid teachers what they deserved.)
Gabrielle, You are a special person and you are commended for the profession you chose. While money is a necessity, it is not the reason we humans live for. Serving others is the greater reward in our lives; very sad most people don't live by this principle. May you be greatly rewarded now and eternally!
@@beverlyharward9631 Bless you, and for you as well!
I was brought up with a poverty mindset but started to educate myself about money matters at about 40 when I happened to come across a book called Your Money or Your Life.
I radically changed my life. Got rid of all debt. Lived frugally and saved and invested everything I could.
I made some silly mistakes aling the way, but basically I am now secure in my retirement.
love that book
Great job!
I HAD a friend (for years and years) who was everything you mentioned. Always had a problem, always broke, always sick (supposedly), always on pain meds (!). I tried and tried to help her (she said she wanted me to help her) but she would not do anything I suggested. Her husband died and then she was really in a mess, still wouldn't try to help herself. One week I bought her groceries (she had no money), the next week she called and said she needed me to take her to town. She didn't want to ask her sister-in-law who lived across the street because she doesn't like her or she would have to drive herself and she was feeling woozy (pain meds???). That was the end. I told her I had an appointment and she would have to take care of herself. I haven't talked to her since (a year) but I have seen in the local newspaper that her house is in foreclosure. I don't know what she is going to do and I'm glad I am out of that toxic "friendship" or I would have to listen to all of that. Sorry folks, I just had to vent!
A Divorce made me poor really Quick 💰💰💰💰
Yep ! I think that is one of the fastest way
As a low income Canadian senior, I just wanted to say that I have sometimes been broke, but I've never been poor. Poor is a state of mind.
Cool!
@@karlabritfeld7104 Hmmn. I am aware there IS homelessness in CA-NA-DA.
@karlabritfeld7104 Great point-one many people rarely consider. Too many cases of modestly wealthy people falling ill, insurance maxed out, and having to file bankruptcy. They go back to square 1! It's atrocious. The couple I saw on TV were in their late 50's. Hard working couple. Their home, money -gone. They played by the rules, but it financially wiped them out. They stated they could never recover. Pitiful.
My husband and I lived in a studio apt until we found a foreclosed 563sq ft condo. Paid off mortgage in 2yrs 11mo. EVERYONE made fun of us because we went no where for that time except library for videos, music and books. Stayed in same condo for 18 yrs to afford private school for the kid. Kid graduated w/ honors and got full ride to state university. Our income had steadily increased from starting at $50k but so had our savings so we Were able to buy next condo cash and now old condo is rental. We own very little, we buy used cars that we can pay off in a yr. When we need something we try to borrow or get used. Our emergency fund has almost 1 yr of our income since we have elderly parents that could need our help at any minute. We spend our money on experiences with family like hiking great places and going surf fishing. We have established monthly charity debits which brings us great joy. Especially KIVA which makes loans to poor entrepreneurs. Every month we get to see the 8-10 small businesses that we gave startup capital to and how they repaid their loan to loan to the next small business. It’s not like all this occurred without tragedies and extreme sacrifice throughout the process but when you make the hard but right decisions the horrors of life are quicker to recover from.
Awesome!
❤❤❤ I always think I'm doing better when people are making fun of me. You did such an awesome job
Great job.
This is a great model to follow.
That’s awesome! However there are people that do all that and more and still can’t make it. I realize many could if they changed their habits but more and more ppl try as they may cannot get ahead.
Poor health and disability may be the only reasonable excuse for being poor in this country.
Health is wealth.
I have met people on disability that still save 1/3 of their income.
I don't buy in shops. Amazon is for me. I can budget for necessary purchases. Love browsing online but if I see something that tempts me, I put it in my wishlist and wait 24 hours. Guess what? They usually stay there until a family member asks me 'what would you like for your birthday/Christmas present? Time to check my wishlist. I'm only buying replacement items these days. Delayed gratification really works for me!
I'm poor because I chose as a single mom to be home with my children and worked only part time and the hours they were in school. Because of that choice, now at 68 I am still poor, BUT my sons, even though legally blind are honest, kind, generous with careers and living on their own. AND I'm still "poor?" Poor is a state of mind. Poor depends entirely on what you consider of value.
I hope you are living the life that you truly want because as a former solo mom; you DESERVE it!
@@Dutch_Gonneke thank you. Love my life 💓 and I am living closer to my "boys" 😍🙂
@cjhoward409 true.
These videos are about money. It helps. Why do we need to speak about something else?
Yes.
Take heart!! A friend of mine had congenital brain damage from being born with the cord around her neck, so she only went to about 3rd -4th grade education. She knew her numbers & letters, but couldn't read more than several 3 letter words. BUT her memory was phenomenal & she picked up many ideas by watching the nightly news. She kept track of a medical team of 15 specialists & knew what each of their specialties in her care was. She survived as a disabled adult child on her father's low income social securities earnings record & food stamps & food boxes, etc. However, she was very kindhearted & sought to volunteer in several groups, spreading her experiences to others...
So EVERYONE has a needed function in our society!! Get off the couch & start moving!!
I had a sister that was so envious that I had managed my savings well enough to retire at 55, saying things to poke at me as if it was something I did that made her stay poor. Mind you, she was a nurse and many years made more than I did but every time there was a financial crisis it was always “why does this always happen to me?” And no planning beyond five minutes in the future for emergencies. So I’ve seen a lot of what you’re talking about. But I’m one of the “millionaires next door” that no one would guess it was true, except I don’t go to work. Don’t need all the big toys, the fancy furniture or designer clothes. AND I no longer have to work at a stressful job to support all that stuff either. Love your blunt advice. More people should take it to heart.
I can't stand the excuse when people say, "I don't have the patience." Patience is learned. Not something you have.
UGH. When a guy doesn't willingly pay to support the child(ren) he created, that's a HUGE red flag! There's absolutely no justification for that.
My boys are 18 & 17 now and their father and I separated in 2007 when our boys had just turned 2 & 1, and then divorced in 2009. He has never paid 1 penny in child support. He had a court order to pay the minimum for 2 kids based on his income at the time which was just shy of $400 per month. He purposely got jobs that paid him under the table. Tried going after him a few times when my boys were little, but to no avail. Very difficult when we live across the country and I never had the money for a lawyer. My boys know who loves them unconditionally and who is there for them always, ME. I had their last name changed to my maiden name. No reason for them to have their father’s last name.
My son had (had not has) a friend who was one step away from being homeless. We let him live with us for around 10 months. We paid for his every need. He refused to help around the house or yard (I did get him to plant some carrot seeds and cook some meals). He'd say, "All I want to do is play my drums." The last straw was when he complained that I didn't buy him the kind of toothbrush he liked so we told him he couldn't come back to our house. We took all of his possessions to his brother's house (no one in his family would take the person who lived with us because they all got burned, too). It was very upsetting emotionally to kick him out because I thought I was being a nasty, uncaring person for doing it, but with the passing of time I realized we did the right thing. We were told to change all of our locks immediately so he couldn't get into the house (yes, we'd given him a key). That was expensive.
He left the mattress he slept on stinky which I had to deodorize with lots of baking soda. He'd miss the toilet when he urinated and not clean it up. These things, among others, made him very unpleasant to be around.
If I were given a place to live for free with a family member or a friend I'd be on my knees scrubbing floors, cleaning their house, cooking, weeding their yard and anything else I could do to show my appreciation and to earn my keep.
Went through worse! My daughter and her fiancee did those things, eating out food, not helping with farm chores or utilities like agreed. So tired of it I told them could never come back... They stole from me also. Broke promises....
I have decided to sell my three bedroom two bath house and take that money and pay off all my debts put some money in savings and then hopefully I’m going to find a tiny home or a small one bedroom one bath home for half the cost. Wish me luck y’all!😅
Watching this with my 14 year old and she said, “wow mom, that’s everything you always tell us “ 😅 I think her watching you talk had a big impact, and solidified some things that I always say. Thank you for being you ❤
Low self esteem and not believing in yourself can keep someone poor because they lack the confidence to put themselves out there to succeed. My mum is like this and yes i gew up in the welfare system. Luckily i have a different mindset and hence watch Prepper's videos as i wil make sure to make better money and life decisions than both my parents did.
I'm 56 and starting over after major health issues so I'm going to listen to everything you say.
Great video! I am on full disability and have more money saved than I ever did when I worked! It is all about priorities! I have 2 friends that are on disability and struggle because they don't know how to manage their money! I drive a 2010 car, pay $25 a month for my cell (flip phone). Watch movies at home with my partner. We live in a new manufactured home instead of a $400K home.
I would never advocate fear, but fear is what kept me from being poor. Fear of being hungry. Fear of being homeless. Fear that my handicapped child won't be taken care of after I'm gone. I know a lot of people who simple don't have any fear. As far as the mortgage issue, I never saw it as what the interest rate was. I saw it as "if TSHTF I don't own my home and I'll be homeless." I wanted to own my home, free and clear, if nothing else. Taxes and insurance are cheaper than rent where I live. Great video!
I was born into poverty. It took lots of hard work and sacrifice to escape. I have to break generational for my daughter.
You can do it!👏🏼🤩💰
I totally relate to the "kids" thing. I've met a lot of poor couples who insist on having a lot of children and think they'll figure out how to support them later. It rarely works out well. It leads a lot of resentment and hurt feelings with the parents being stuck in dead end jobs and the children feeling like a burden for all the misery the family is going through.
Amber you are 100% spot on with your comments . Generational poverty mindset is absolutely a thing . Instant gratification and being a sheep is another problem ie; keeping up with the Joneses .
There needs to be a life science class in schools that teach savings, investing, budgeting, cooking, cleaning and good manners so as an adult you can take care of yourself and be a good citizen.
Parents need to teach this. I did.
@@evelynsaungikar3553True, but what if they don't know it? Like Prepper Princesses friend. He would never be able to teach a child these important life skills. I think that is why the OP is suggesting it gets taught in schools.... because obviously so many adults don't know these basic skills and therefore can't pass them on to children.
@@nuclearchick1487 It’s a shame that people like PP’s friend go around irresponsibly having kids, while the smart ones like PP don’t. I get that it rarely makes financial sense to have kids, so people who think it through choose to be childless, maybe that’s why the population is getting dumber? Hmmm.
What always blows my mind are people who are capable of paying off their mortgage, but don't for a million dumb...insane excuses.
If a person wants to choose overworking instead of spending time with their children and properly raising them, they better not procreate. Childhood emotional neglect runs deep and will produce a lifetime of pain and isn't just easy to overcome.
Neonwhip, You and I have same mindset.It's wonderful to have children. We have 4. I stayed home with them. My 'job' was raising them, homemaker. 1 is an environmental scientist, 2nd is a business woman-realtor. 3rd a MD, -specializing in Neonatalogy.4th- Independent Financial advisors with satisfied clients that love her. When they were older teens I returned to paralegal field. Win/win situation! Yes, take care of your young ones!
I learned how to handle money from parents that lived through the depression. Live beneath your means. I have never had debt other than a small mortgage that I paided off early. Pay cash for your car and drive it into the ground. Being debt free is priceless.
I'm retired. My pension is enough to pay my bills and have some money left over. I choose to work temporary jobs, even though I don't absolutely need to. The extra income allows me to enjoy my hobby (music lessons) and put more money into my investments. I'm saving for my future. It is very important to me to have a safe comfortable place to live when I'm no longer able to stay in my own home. I have no debt and plan to keep living that way.
I got tired of helping a friend who kept saying “I’m lazy!” She and I eventually went our separate ways peacefully.
"Act your wage."
I like that.
My dad lived like he was poor and had no money.worked harder than any man I ever have known.He never bought anything new.He also paid cash for everything. his saying "I dont have any money,"his whole younger life he had 2 jobs and we raised heifers for people. He enjoyed fishing in his retirement years. He was tough as nails and never did I see him break when he really should
have. Loved Jesus and died smiling in faith.He bought me and my sister foreclosures homes and my brothers. He was dieing @ 86 went out bought my mother a brand new car and they had a paid for home,and more than enough money for my mom to live on forever her whole life and then some. The young men of today could never compare or comprehend what living a rich life really is.
Hi I've been living in USA for almost 18 years, always have two jobs, multiple streams of income. I work part time in grocery store, I see illiteracy with spelling ( I'm Polish and I have to correct customers when they type words in self checkout computer to find products) , illiteracy with even buying food - I don't buy processed food and I see so many people buying processed food complaining about prices that it's to expensive. But the won't cook home made meals that are cheaper. Some people with SNAP benefits buy coke, chips, sugar loaded cereals instead of healthy food.
I mean I count every penny and my budget is maybe $ 120 a month . They always complain that it's so expensive, with brand new apple phones and michael kors bags ...it's like a nexus of universe.
And expensive hairstyles and manicures.
So you and your husband are expecting your first baby, are living in a one bedroom apartment and think you have to now get a 2 bedroom apartment? No - you and your husband move your bed and dresser into the living room and give the baby the bedroom. I saw my young neighbors do this and was so impressed with their frugality and common sense.
Keep the baby in your bedroom. No need to move your bed into the living room.
@@connievaughn8468 maybe I am crazy but regardless of age I dont really want to have sex with my child in the room
ignorant? yes/no. most refuse to learn listen. I knew what may be considered a low intelligence cleaning person. However, they owned a beautiful home, and a brand new truck fully paid for. But they worked and were willing to work. Kind of simple. I was extremely impressed.
I have lived in every economic status over my adult years, from being a single/divorced mom of three teenagers. But that's when I learned to garden and preserve food. Which was a huge savings for me. My frugal ways from then (2000-2012 I remarried in 2012) and I've kept ALL those frugal hacks to this day. I am in a much better financial state of life now. My husband works 60+ hours per week, I'm a homemaker, I still garden and preserve, raise a flock of chickens and am a ghost writer.
I’m always excited when you post a new video! At almost 57 I can tell you time flies by…there really is no “later.” People have always made fun of my frugality (some good naturedly and some just mean) but I was able to retire at 54. Good thing since a job loss came out of the blue. Didn’t have to worry about not making the bills. Now I get to garden, create, babysit my grand baby and I still make a little bit of money selling things online.
My mom was a single parent with my older sister and me. She only had an 8th grade education, because my grandpa told her she had to get a job. She worked for her oldest sister, who had 13 children.
Ok after my parents divorce, she got a job as a housekeeper for a very well to do family.
She worked as a housekeeper for 3 families, when she decided to get a different job.
She got a job at a company that made the insides of radios, CBs, stereos, and I’m sure other electronics.
She never told me we were poor, she never talked about money to me. I always had everything I needed. I always has a pool pass for the summer.
She also took in foster care adults. She also would set rollers or pin curls in ladies hair.
Being poor today, is very stressful! In the Uk, people are homeless because they can’t pay for the rent that keeps going higher and higher, they can’t pay their utilities, and when they get evicted from their flat/ apartment, the council says that they went to be homeless at their choice! This is so wrong! I understand that you own your home, are a millionaire, and live on very little amount of money for a month.
But you don’t have the stressors that poor people have, the worries of being evicted l, not being able to pay the utilities, so they go without. It’s just not the same for you as it is for them!
I’m not poor, I still have a mortgage, and 1 credit card debt which I s as m working on to pay it off. I sold my 5th wheel, my horse trailer yo pay off debt.
I live below my means. But I don’t have the stressors that poor people have!
People say, “ Get a job! Pay off your debt, work your way out of poverty!” That is easier said than done!
Ok I’m getting off my soap box now. I just had to get this off my brain.
Have a fantastic day!
💜🌻💜🌻💜🌻
Even though I really enjoy Prepper Princess's videos and value her advice greatly--along with the comments people make--I do think they sometimes don't recognize that there are real situations that are out of a person's control: few jobs available during a severe recession--much less second ones; war; galloping inflation that in no way keeps up with a person's income no matter how frugal he or she is while working extra jobs; divorces from violent or cheating spouses that leave destitute women and innocent children unable to survive; disabilities that make it impossible to work and exorbitant home prices and rents.
What bothers me the most is the premise that all disabled people are lazy and lacking in character if they don't work. That is so wrong in many instances.
@happydays1336
I totally agree with you on everything you said here!
😊
I'm now in my late 60s and retired, but I still rigidly save at least 40% of my monthly income. When my monthly income arrives, I immediately transfer 40% of the money into savings accounts etc. If I have any money left over from the previous months budget, I also transfer that. By transferring the money it's not sitting in my current account tempting me into spending it.
Hate to admit, I was in the "I can't do it" group for a long time. I'm disabled and my Dr's gave me no hope.... was going to be in a wheelchair by 25. And it happened too. I learned then power of belief. It took a long time, but now I work a full time job, a part time job and I have 2 side hustles too. I save as much as I can every month and earn interest on it. I get where I need to go in an old Caravan and saving to replace that too. Everyone I know keeps telling me to stop working so much and funny enough, tell me I should buy a new vehicle in same sentence 😂. I'm striving day by day to not be poor.... mentally!!!!
Thanks for the like, Prepper princess! I really enjoy your videos and learn so much! It's also true that anyone can get an education if they strive for it! :)
Disability is very complex. Just because a blind person can work does not mean people with other types of disabilities can. Do you realize that of all Ssdi recipients people who are blind are the most incentivized to supplement their benefits without losing them? They can earn much more than others on disability. I am on disability for ptsd. I did highly skilled work (with my big IQ). I went to college to advance my career (glass ceiling is low without a degree, especially being female). I went to work as a Risk Manager at a Native American casino one day expecting a normal work day only to have someone decide to jump off our parking garage roof. My job required me to be a liaison between law enforcement, coroners, etc. I spent the day looking at brain matter on a parking lot. I even got to watch the incident over and over agin via surveillance. My life changed instantly due to the trauma. Needless to say, I worked 10 more years with a weakened ability to cope with the nature of my work. My next job was handling claims for elder abuse. My ptsd was lit up constantly. I thought by getting a white collar job I could easily work to retirement. I never dreamed my mental capabilities would be severely diminished to the point that I was incapable of working in my profession of 30 years. In the last 10 years of working I lost 4 jobs. I was never fired before the incident. I know this is long but I just want to point out to you that the reasons people don’t work or can’t work go beyond the simplistic opinions you present. On a different note, I subscribe and enjoy watching your videos.
Sometimes you must change your profession. I've done it twice after burnout.
Sorry you were so affected, I had similar experience related to an incident but now work at a lower level job with part time hours..
If there is any way you can get free or low cost treatment for PTSD, take it. It's hard, but I saw it work for a Viet Nam veteran.
Poor is definitely a mindset. I've been broke lots of times but I've never been poor. Even now, living on social security, I don't have a lot of money but I'm not poor.
@Prepper Princess Great comments! I want to add this: It seems to me that, like me, one of your top strengths is self-discipline. Your IQ can be off the charts, but if you don't have self-discipline, you'll struggle to take the right actions to change your circumstances. Likewise, probably ppl with average IQs but with high self-discipline achieve more than others who are smarter but who lack that strength.
Very true
Debt free with low overhead feels good.
If you have kids, teach them simple recipes like scrambled eggs, meatloaf, hamburgers, salads, spaghetti, and remember that if you eat too much fast food instead of cooking, they will follow your bad example. Teach them how to iron a shirt, clean a toilet and sink and have them do chores. Show them the power of compound interest, which Einstein called "man's greatest invention." Etc. etc.
My chores were dusting, ironing. I felt so grown-up. Try asking a kid today to do anything - I dare ya.
Absolutely. Someone keeps telling me how I am too frugal. I know how to do without very well. They are in debt up to their eyeballs. It’s not a cute look, wearing designer things and being broke. 😂
I think you are wise. I live below your way and cost, and I fell great. Food, water, shelter. Anything beyond is a gift. ( simplicity & perspective
And yes I have my finances in order, and eat well. If you deprive yourself of proper nutrition you will definitely feel the effects down the road. Everything in moderation. I have more than a million in my portfolio and no debt.
Living in the moment with no hope/plan for the future.
I have never seen anyone who thinks more like me in my whole life!!!! A kindred spirit.. woo hoo!!!!!
Me too
Exactly... Endless excuses and never their fault. People constantly make themselves out to be victims by the actions of their owns choices.
Summary: 1) Always learn about Improving your Finances. Increase your Financial Knowledge 2) Try to stay debt free 3) Try to Avoid Consumerism 4) Save as much as you can 5) Have Free or Cheaper Entertainment at least sometimes 6) Choose money over things 7) Take Advantage of Opportunities 8) Have a Positive Mindset. Avoid poverty mindset 9) Be Responsible 10) Set clear expectations and financial goals & try to achieve them step by step.
Thank u for trying to help people
We were flat broke when we had our child. Best decision ever made.
I was 19 broke with twins, got married to twins mom and had 1 more kid at 25, divorced after 29 years. 63 now with no regrets, have 5 grandkids youngest 12 and oldest 24
I have a rule: never eat out twice in the same day. I am amazed by the number of people who do this - not to mention the cost and tipping, poorly prepared food with an overload of sodium and sugar. Give me a freakin' break.
And an overload of oil…
My first wife, may she rest in peace,, wanted to go out to eat,,
So i made 2 pb&j sandwiches and we went out and sat on the curb and ate em ,, she didn't think it was funny at the time,, but later we laughed about it...
I have never even met anyone who eats out every day! A poor use of money.
Thank you for this! I needed to hear it! Im the queen of excuses!
Bad financial choices and not knowing how to manage money and useless job skills made me poor --- I made me poor.
The other side of that coin is that I can get myself out of poverty.
Same. I grew up in poverty and have a lot of the mindset from that still stuck with me. Always fighting my own poor judgement.
Who tells the truth and looks behind the " consumer" curtain is usually NOT very popular .I like the video a lot! ✌️
My husband's family said we should live beyond our means and he should have 2 jobs. I am a lifelong Tightwad. We have no debt, kids are in their 40's, and we
are doing OK. We retired from full-time work in our 50's. Tina, Al's wife
A car is just transportation, folks. An expense. If you get a raise and your basic needs are being met, then bank the raise!! Have your employer, credit union or bank make a direct deposit into your a savings account automatically, of the amount of your new raise. Don't get used to having it available to waste. Don't let it be "easy come, easy go." Learn to "window shop" and not spend. I see something at the mall that is nice and I say to myself, "If I buy this, my whole life will change!" Then I laugh, don't buy it and continue my window shopping. I saw a $200,000 diamond necklace in a jeweler's window once, and I said to myself, "Gee, that's a condo right there in the window." And laughed again.
Oh I worked a job I hated but needed. My husband worked days and I worked evenings. I was a school custodian I was very pregnant I cleaned the restrooms and steps on my hands and knees. It was a hard job because I was pregnant but I did it until I had the baby and looked for a different job.
In my experience and I am 68 years old most people in working-class are taught to hate on people that have more than them. They talk ugly about their bosses and called him greedy and selfish. Anyone who escapes the working-class they say they did it by cheating or stealing. We never talk about money and we seldom have strangers to our home not that our house is fancy or large but it just might be nicer than theirs and it creates envy and resentment. If you think about it that's what keeps them poor. If they think people that are not poor are greedy and selfish and evil they don't want to be greedy and selfish and evil so they hold themselves back by being wasteful and childish.
I'm working hard to not care what relatives, co-workers, etc. think about the fact that I don't waste money or extra money on: coffee (brew my own @ home), clothes, jewelry, cut flowers, expensive shoes, expensive purses, etc. I buy sensible shoes, purse, clothes, plants (instead of cut flowers), etc. Mainly purchase necessities & try to never go overboard when purchase items for family members. It's not always easy, but I truly think that I need to take care of myself. No one is necessarily going to take care of you when & if financially, it may be difficult.❤🙏🏼
I love that expression 'Act your Wage!'
The reality is that most people should, but often, many rich shouldn’t.
I always believe that it's not what you make, but how much you spend.
I used to think that but it is also what you make. Our time is the one thing we cannot make more of. You must strive to earn more than minimum or low wages. You cannot save your way to financial freedom on $8 an hour.
prob is the last 3 years have made everyday expenses a lot more
My sister, who worked as a financial advisor for years, compared finances to professional football.
Income equated to offense; reducing debt and spending and investing wisely, to defense. You can’t win the game without both!
As always another great video. Sometimes bad things happen to good people but most often it’s good people making bad choices.
My husband and I very early on always loved below our means and we still do. We bought a very modest home that many consider a “starter” home and have lived in it for 12 years now. We don’t plan on moving to the next “bigger and better” home like all our friends. We have one car and it’s paid off. We love living simple, frugal, and the peace that comes with it. I wish more people would listen to your videos and actually live it. I love your videos!
I like estate sales for items that I need.
@@kerrynight3271 that’s awesome!! 👍👍 I love it!
Alcohol drugs and other addictions keep people poor.
Yes! Not just alcohol, but the bar scene. There are some cool looking bars and eateries around. The whole scene can entice, we are social creatures after all. The choice is either stay in the bar/restaurant scene or break away. Once I stepped away years ago, my life got better. Still remember how cool it felt tho.
That story you told about your friend certainly resonates with me. Humans can be so strange in their self-defeating behaviour. I've known people like that guy. Still, kudos to you for trying to help him.
That former "friend" you were talking about sounds JUST LIKE my exboyfriend. He would spend every penny of every paycheck every single week. Didn't even have a bank account. What a complete LOSER...
Your dogs couldn't keep quiet, they had to cheer you on! See how much they love you?
I’ve been watching you FOREVER…you are still one of my all time financial channel favorites. Thank you Prepper Princess.
You are amazing! You give wonderful advice!!!
I believe where there is a will there is a way. I live on about $1500 a month for a family of 5 and there is a car payment and a mortgage.
Omgosh! How do you do that?
Wow! Great for you if you can pull it off!!
I hear you, I been on 1200mo for 2 months now just to see if I can do it, it’s hard. raising it to 1300 next month, but I’m single.
I canceled my cable, and I’ve got Roku!
Next step is switching to Mint Mobile 👍!
Thank you PP for the great advice!
What is Roku for?
Keep being you, and keep being true.
Thanks for the kick-in-the-butt we sometimes need. 😀
And the doggos!!!
I have a child with "inattentive A.D.H.D". The stats say if a child has it, there's a VERY good chance atleast 1 parent does.🙋
Impulsivity is a big problem for A.D.H.Der's. So is inability to focus on and reach goals (our focus gets scattered & we HATE doing anything boring). I'm VERY impulsive. So is my kiddo. Money just slips through his fingers SO fast. With me, its impulsive snacking!
I say this because I TRULY believe that a lot of adults go undiagnosed with mental illness or learning disabilities. With the right diagnosis & help, they could gain "executive functioning tools" to completely turn their overspending (or overeating) around. Im not saying to use a diagnosis as an excuse. Don't be a victim! Use it to empower yourself & make a better future for yourself.
Even if you cant afford professional help, you can STILL find information on-line.
Take responsibility.
♥️🇨🇦
In order to be a leader, one must know how to be a follower first. Being a good follower means accepting orders (people telling you what to do...especially if what they tell you is good for you).
Literacy is my passion. Here are the two things I hear: 1. “I can’t take the risk that the author’s thoughts might supplant my own.”😮 2. “Books are all filled with LIES!”👹
Our son and a buddy of his both graduated college and moved in with us for two years to pay off their student loans…thankfully our son listened to us and is now debt free but his buddy kept hoping for the government to forgive his loans and never paid extra on the principal….he went home to visit his grandmother and came back with a brand new car! He is in so much debt - what was once achievable is now just hopeless. He eventually moved out and is living with a friend in a bad part of town. All we did was enable him 😢
As with PP’s roommate, you find out that you really can’t help people.
Nailed it. Love family. Grew up with strong work ethics and content with being debt free and independent. Respect yourself and others. Joy doesn't come from things.
Most all problems with people boil down to lack of personal responsibility & unable to accept delayed gratification.
Yes.
I totally feel ya. I have had fat/obese people tell how I lift weights wrong.
whenever i tell someone that i do 50 to 90 miles on my bicycle when I'm traveling,, the first words outta their mouth is
U can't do that many miles on a bicycle...
Now i no longer tell people about my bicycle trips
@@tomcatt998hahaha, lazy people don't know what humans are capable of. Also, right on man! Keep up the hard work and please be safe. Soooo many dumbass on the trail/road.
My record is 114 miles in a day…I could barely walk the next day
I discovered your channel lately, really enjoyed. I have the same mind set as you. No kids, just a dog. No debt. Worked hard in the past 15 years. Not sure what my IQ is, but I have a master's degree. I may not be the smartest person, my strength is steady pace and consistent effort. I am working on my youtube channel, hopefully it will become passive income one day.
I will be 62 years old in a few months. I have helped many, many people and have lost a lot of money learning this one thing...By the time someone is an adult, especially with children, if they don't have their life together, they never will. Nothing but excuses or blaming others is a habit formed early in life and I have never seen the habit broken once formed. I know which of my friends are like this and after allowing myself to be taken advantage of one too many times I no longer offer to help.
Great video as always !! ❤
Ms. Princess, you never sugar-coat anything. That is why you are intriguing. You are also smart and do research. Keep it going, girl.
I really enjoyed this video!! Great video as always!!!🎉
One of your best videos, thank you
Climbing out of, then staying out if debt requires discipline, a changed mindset. But once it becomes habit, it gets easy!
100% agree ! Ur wisdom is a treasure .