You Are Trained To Be POOR - Don't Do These 10 Things
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- Опубліковано 5 вер 2024
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What Is The Minority Mindset?
"The Minority Mindset has nothing to do with the way you look. It's the mindset of thinking differently than the majority of people" ~Jaspreet Singh
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Video host: Jaspreet Singh
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Do you have this in Spanish? My co workers only speak Spanish. And I want to share this with them.
Health care providers priceless necessities of must have a dependable auto of self independence security of best trusted experts ❤68yo 🤱
A+ teachings JASPREE SINGH hope of so many stressed2max making smartest dollar abilities of doing a lot with a little Thanks smart teachings MINORITY MINDSET MAGNIFICENCE ENERGIESF5 CONTAGIOUS SURGICALOVEDOCHALKIN D.O PASSIONS ENCOMPASSING GENERATIONAL SUSTAINABILITY ❤PEOPLE PRIORITY LORD'S LONGSHOTS 🦅
Do you want us to report them?
Then why the fuck are you putting this content knowing you are a target
At 70 years old I have tip to pass on regarding debt. Whatever you are thinking of buying or signing up for ask yourself this question - Do I really need it - give it the overnight test or longer. I guarantee in most cases you'll forget all about it and be richer for it.
Yup. Needs vs wants
That trick has really knocked down our families unnecessary spending.
It's what i always do! Even before a medium to small purchase
Exactly
Wise words.
Ever since I became A Minimalist things have changed. Pay Yourself Not them.. TY for the Pep talk 👍
As a Nigerian myself, adopting minimalism have really helped me to go through the economic meant down we a facing right now.
I agree. Living simply is very gratifying.
Absolutely. Learn not to make the rich richer. Work for yourself by saving money. Keep saying these types of mantras over and over: I am saving because, I am working for myself. I am saving to make myself richer.
The system is crooked
The system profits when you’re financially stupid.
No….they don’t teach us nor our parents what they should in school. I don’t use none of that but math. I don’t speak euro English and I use a calculator for all math on my phone so all then exercises was for absolutely nothing. They taught me to get good grades in school instead of getting good credit score grades in life. It’s the government who teaches ignorance while certain ppl have a head start in life
True 🎉
Yupp if your an idiot then your gonna always make someone richer and you gonna be poorer and always struggling
Iprobably why public schools don’t cover that
Facts💯
I got rid of all credit cards, paid cash for an old reliable car & sold most of the clutter in my house- I feel lite, free & energized to live a better quality of life- wish I did this much younger….
I need to figure out how to declutter
@@mhaas281 Basically how I did it was I went through my garage and basement and asked myself do I really need this anymore, and will I ever use it again. I had a habit of hanging onto things, even though I never used them with the "just in case mindset". Pushed myself to finally throw out and sell some stuff. It was one of the best feelings ever finally letting all of that go that sat for months and years.
@@mhaas281 find a place to start and go from there
I pay my cc off each and every month, I use my cc like it's my debit card, I am only spending what I can afford to pay back
Use their money, pay no annual fees.
I do the same. Companies typical pay the swipe fee.
And if you get cash back you are getting something and paying nothing for it.
But only if you pay the entire balance in the grace period.
Glad about you. But at same time concerned this is not the default behavior of most people.
Same. I've never paid cc interest and they pay me over 300 annually just to use it. Plus, when someone steals the card, I'm not liable.
Same here, free money as long as you don’t overspend just to get points or cash back.
It's not free money since you pay the bill . If you have the cash you don't need credit
Never too late. I walked away from a 6-figure job in 2017 to do the same thing as an independent contractor at 48 years old. It was the best decisions I made in my life.
Inspirational indeed, l am looking to leave the corporate world and work for myself.
How do you afford health insurance?
@@newhampshirelifestyle4233 . I am in good health and never go to a doctor, so not a big deal. I also don't take any prescription medication.
That is the first thing I tell people though when they ask me about working for yourself. If you frequently make use of your employer provided health insurance you may not want to do that. That is another way they keep you trapped. Since I live in San Diego, I go to Tijuana for my dental and medical needs and pay cash. Doctors and dentists are much more affordable in Mexico.
I am not extremely health conscious, but I do watch what I eat and try to avoid the really bad stuff (like fast food, high fructose corn syrup, etc.). Very difficult to do in the USA, and I also travel a lot. I believe all pharmaceuticals are poison, so I don't take any. So, basically, I take charge of my own health, rather than to rely on a drug dealer (doctor) to prescribe me a bunch of toxic big pharma products that just make me sick. I don't know anyone who is in good health on account of consuming a bunch of pills. But I'm getting off on a tangent...
Obamacare is an option if your income is not extremely high. The premiums are based on your income. I have no idea how good it is. Again, I prefer to address my medical needs outside of the USA.
You lost your corporate job and became a doordash driver?
@@Pray4Mojo1 No doing the same thing as before, but as a contractor instead of an employee
This video is better then anything you can learn in school 🔥
I disagree. Basic math is way more important. You wouldn’t even be able to understand this video if you hadn’t been taught basic math and language skills.
@@ROVA00 sounds good. Do you have tutoring available? 😎
@@mikeberardi3985 no. Pick up an algebra book if you want to learn math or take a class from a local college. UA-cam is good for getting you interested in a topic but you’ll never really learn fundamentals without getting into the details and practicing problems to solidify your understanding. Watching videos is easy because you just sit back but you need to apply and practice.
Grammar is pretty good to learn though.
We need both!
If you ever listen to anything while reading comments, let it be this - go to borlest and read the book whispers of manifestation, then come back and thank me
BS bot lol
@@SAY1MY1NAME1that’s you
Bottled ass comment
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂 bs
@@SAY1MY1NAME1lol
I have had a credit card for 48 years and have never paid a dime of interest.
And yet Dave Ramsey is still angry with you!
What’s your credit limit on it
Its called a debt card. And you've paid interest lol
@@morganhill2586I will never carry a debit card. and I have never paid credit card interest. Its very easy just pay the balance in full each month.
@@morganhill2586if you pay it off before the due date you don’t pay interest 😮
A man who is clear of mind. Bravo! I'm glad to see someone is thinking straight.
Debt is a slave to the master
Technically you are the slave when you are in debt. Debt is the tool that makes you someone’s slave. But I know what you mean.
He meant the borrower is slave to the lender
Depends who is more powerful 😂
It also says in the Bible, book of proverbs
So Debtor or Borrower you mean.
-don't buy useless things
-don't buy things you can't afford
-don't struggle in debt
-🏆
Great message, Jaspreet. Keep promoting this message; the young folks who heed your advice will be very well off in their late 50's....
Unless something happens to the economy. Spend money today & save for a storm & not just a rainy day.
Yeah I’m 25, I invest in my regular investment portfolio with about $100 put into it every two weeks and then another $100 into my Roth IRA portfolio every two weeks, and before that I just split my check and save the other half.
I peeped the sarcasm 😂
@@jade-oh5wn Yess! You said a thing right there!
That would be a very small percentage of young people; the majority of them are busy partying, gaming and aspiring to be UA-cam content creators.
@6:57 Unfortunately I’m disabled since 2018 … and my only income is now Social Security. I used to be a successful Chiropractor and Acupuncturist … servicing over a dozen medical offices in NY … and in one instance, gone. I wish I was smart enough then to get a disability policy like Aflac, because at least I’d know my family would be taken of, but I can’t look back , only forward. Hopefully a treatment becomes available soon. Take care of yourselves.
May I ask what you are dealing with, because there are ways to heal you that you may not be aware of and God always heals.
Take a blank notebook and write the Bible verse, By His stripes I am healed! Write and say it aloud until you fill up the notebook. God will heal you out right or He will lead you to what will really help. But do noninvasive first and natural over drugs. If you are on pain meds switch to like turmeric as a natural antinflamitory. You can do a search on the internet to find more.
Take care of yourself too please.
Please take care of yourself! Thank you for sharing and the sound advice.🙏🏿💞🙏🏿
What happend bro?
Maybe you can start some kind of UA-cam or online business sharing your knowledge about chiropractics, acupuncture and other holistic type practices? Not sure if you’re physically able but I would watch!
If you are told to go to school to get a job you are trained to be poor
Just over broke
📠
Training is good for you. The right kind of training. Good to gain knowledge in your area of employment or if you're looking to better yourself.
Going to school and having a job doesn't preclude a person from acquiring knowledge to build wealth. Conversely, those who do not go to school and then get a job don't all possess the keys and knowledge to gain wealth, as your comment implies.
@@calvinedwards4382 ever heard of the word, ‘generalization’ ? Someone may go to school, get an engineering degree, find work with someone else, gain some experience, but eventually quit his job and use his training and job experience become an entrepreneur and be successful. The thing is, he broke away from the norm.
I met a women who changed her corporate job to landscape designer at 45 yo. And she loves creating gardens for people!
And I have so many examples of ppl who changed their career at any age to sth totally different!
Brenda is her name, mother of two children. Right?
You can become wealthy in just about any country if you follow the basics. Invest heavily and live frugally.
Really? Just about any country? How did you come to that conclusion?
@@ROVA00 Because I have been to a number of countries during my lifetime, and I am aware of a number of self-made men.
Correct. It’s not the country that matters. It’s your mindset. India is extremely business friendly abd startup oriented once the socialist mould is broken. ❤
Try in Algeria lol you can’t without delving into illegal activities (or you wait until you’re nearly 40 to get any real motion going)
invest don’t spend.
You honestly look and sound like the most trustworthy financial advisor on UA-cam. Thank you for reminding me that I live in the land of opportunity and I need the drive to get ahead!
SIR, You should be teaching this in HIgh School, you need to teach people before they get in to debt. But thanks for putting this out there, the smart people will find it.
I have financially backslidden in the past year. Getting back on the wagon. So glad to hear your voice again spurring me on. Thx for the videos. 😊
I already knew this, but I still need to hear it regularly. So... thank you.
You need to know the difference between your wants and your needs and the number one thing is be patient😊
That is very good advice. Thanks!!
Baby steps help. Glad vid had a disclaimer too. I feel wealth is a massive word. I'm just glad to manage things like with weight.
Don't need to overdo things but I really don't wanna inconvenience myself when I buy something, which many industries, like streaming, completely exploit and increase in price.
Sales/credit reward bonuses help too, as well as having hobbies that can donate or resell (always the 2nd hand market lottery) to an extent.
I went through a bankruptcy. After going through that I haven’t used a credit card. Although I did use it for taxes and another bill, but I haven’t used it since and I got it payed off. Now I buy stocks and etfs. I work at a restaurant and I definitely can’t afford to buy much with my paycheck.
stick with it brother i work at a steakhouse and 2/3 of my paycheck each week goes to investing, patience
We're living under stress-slavery
Where did the stress come from its straight up slavery
@@leonray1112 It is a decision a person makes, consciously. One cannot acquire all that they "need" based on the presumed affordability of "the payment", then cry foul that at some point the payments exceed their income and blame it on "the system". The person CHOSE / DECIDED to make the purchase and go into debt to "afford" the item.
I've never once, not once, ever heard that the CEO of Gucci, Apple, Dell, Microsoft, Ford, Dell Webb, Mercedes, Prada, et al, come to a consumers door and "force" them to buy their product.
My car is a asset. It gets me to work and let’s me travel on day trips so I can enjoy my life.
I did not have a credit line until recently.Then when I wanted to borrow a bit of money for a deal ,the bank told me I did not have a line of credit because I had no debt. I have a credit card now and use it to a minimum and I still have no debt and i remain FREE
Same here. In the UK I'm looking at getting a property though mortgage lenders don't want to give me a loan due to no credit history. Buying my fuel and telling parents to use it and put money back in my debit card so money from they goes automatically to pay off the monthly credit card charge
Banks are training people like dogs with these ratings and prey on these who miss their payment schedule . If you need to borrow money from banks you are a slave for them.
Who else is sick of all these commercials???
Toyota trucks hold value. I actually made money on it
Same here, I made money when I sold my Toyota Corolla
Amen
Trucks have values! I was searching for used trucks and they were either of high mileage or very old. And….they were not cheap. I ended up buying a new Ridgeline. Cost money, yikes, but still worth it if one day I decide to sell it as a used one.
That’s because older trucks are the only ones with beds big enough to actually fit stuff in.
It’s better than any F150 but not better than a Silverado or Sierra. A Tacoma is average but not valuable. 😂
20:57 I totally agree with that statement. When people get more money, they buy things to show it off as status symbols.
I remember this one episode on Divorce Court where, at the time, Lynn Toler, she said that some of the lines of "Don't wear your money. Don't advertise how rich you are." Can't remember what episode it was, but I took that to heart. No one needs to know how wealthy you are. Once people find out, their true character may come out.
Yes, and you find out who your real friends are.
As a non American, I don't have debt (except a house) and my cc is only used for insurance/safety reasons and paid off every month.
That's good advice for Americans as well
There is no "except" in the statement "I don't have debt".
As an American I don’t know anyone who has a credit card 😮
@@ragtimegals you don't know me 😓
You certainly have a solid logical point, and you’ve been banging on the same drums for many a years now. But what you seem to ignore are the basic human desires. People want instant gratifications. They want a taste of the “good life” NOW, when they’re still young, vibrant, and healthy; NOT 10, 20, or 30 years from now, after what they perceive to be decades of frugality, penny pinching, hard work, and wise investments on meager income sources. Many of the folks that you’re addressing are intelligent people and are aware of what’s going on, but they’re essentially poor and realize that they’ll never get rich on their current incomes, no matter what they do. So they choose instant gratifications (e.g. a nicer car on borrowed money etc.) over what they see as decades of financial sacrifices in order to have a relatively comfortable life 30 years from now. In other words: Where you see the time value of money, they see the time value of pleasure and the perks of self-delusion / self-indulgence in the Here and Now. It’s an emotional rollercoaster and an uphill battle in a tough financial ecosystem.
And the REAL REASON A GUY IN HIS 20s, 30s, 40s, 50s, Doesn't matter the age- Wants A Nice House, Car, and Smile NOW, Is Because You Won't Get A Super Pretty Girl for A,Wife without that stuff. He is Conveniently Missing that Point here. Waiting and time going by will just have you see that Pretty Girl you want Go to some other Guy who DOES HAVE MONEY NOW. For people that don't get that, We Are Trying to Sell ourselves to these Girls that we can take care of them and Truly love them in doing so. If not we wouldn't spend the money. A Sad but True reality.
That’s people’s problem. Stop living for desires.
This is true u need some pleasure when you're living from day to day aswell
Good video, can somebody please pass this along to our government, so it can stop the crazy spending WITH printed money?? I didn't ask for my money to be devalued....
Please do.
These young people don't listen. It's all about being seen as something you're not
A lot of older people roll the same way.
I work in a trade where we make pretty decent money, and all the older guys I work with buy brand new trucks, boats, campers, bigger houses, refinance this refinance that, while I'm sitting here trying to minimize.
@@tjbjjtkdthey need to compensate for their shrinking junk !
@@tjbjjtkd I'll armbar you
I actually work with a lot of young people who are financially smart.Because as older people handed them a world full of crap so I would rethink that statement
Thank you so much for the great advice!!
You are so smart!!
I'm very disabled and can't walk anymore.
I'm INCREDIBLY FRUGAL.
Doesn't bother me a bit.
I love living alone.
Love your channel and common sense. 👍🏼❤️
I love your attitude! 🦋
This is why I love the Hyundai i10 , i20. Budget friendly cars with good cabin and drive quality.
Doesnt feel like you are in a 'cheap' car 😊
The car one is the one I understand, however cars don’t just “stop working” as you take care of your body, a car is the same. You take care of it, and you can own it for your entire life.
Always great advice. The need to "have it now" is what most of society, myself included, suffer from.
Habit changing and extreme prioritization is essential.
The line of credit is a debt consolidation tool. It’s calculated at simple interest. You will save thousands on amortized interest. I used it to pay off cars and paying off my mortgage in 5-7 years adding chunks to the principal.
People who are disciplined and understand this are the ones who will be well off. Paying down principal fast is the key 👌
Can you please make a video?
I've been around toxic family my whole life, no money, no job, let my parents continue to control me, put my self down and compare myself to others!
Needing major help to help change my life!
word of wisdom on vacations, scour and scourge for deals (black Friday/holiday weekends/etc)
Although I never took a personal finance course in K-12, I benefited from having an immigrant mother and good math teachers. I'm retired now and have realized that personal finance is essentially applied math through about middle school. Fractions are a bit tricky and apply to interest rates, inflation rates and tax rates. Otherwise, it's mostly just addition, subtraction, multiplication and division. Although I took algebra, trigonometry and pre-calculus in high school, none of those subjects are actually necessary for basic financial literacy in the individual / microeconomic sense.
Sadly, when I was in high school the minimum math requirement for graduation was one year of a class called Business Math (basically a personal finance class). I often heard some students at my large HS say they were going to skip Business Math class today and go smoke a joint in parking lot or go to bowling alley or billiards place. They also said they could get a job after graduation at a Big Three auto factory where their relative worked, so they didn't need math. I grew up near the Big D (Jaspreet knows where that is). After almost 50 years how many of those students passed on their lack of financial literacy and complaints about teachers public schools and politicians to their kids and grandkids? Great video!
I love how I though the thought (just yesterday) that if I don't buy that expensive galaxy fold, I can afford music equipment like I always wanted. Solution for a phone: cheap phone with screen protector and case.
I think you missed his point. You don't buy the galaxy fold, you don't buy music equipment, and i stead you put the money in an indexed investment fund.😅
I quit my govt job years ago.
I dont depend on banking.
I dont take any loan.
I run my own business dealing in cash.
No problem for me.
I am not feeding any bank.
What type of business do you run?
Really like the way you describe things gets to the point. Done very well. People should listen to this guy.
I use only cash, checks, and debit or prepaid cards for my methods of payment.
Jaspreet, I have to say its really interesting to hear you address attitudes of mental health and spiritual well being stuff !
Yes, sadly cars in the early 2000's were built to last and quality was a priority, especially those built in Japan. Now, only crap is available with a planned obsolescence date of around 100K miles.
You mean to early 2000s and the 90s? Lol
A friend of mine has a 2015 Corolla with about 250k miles on it. My 2019 Corolla is running strong at 102k. Toyota had some engine oil problems in Corolas and Camrys between about 2009 and 2014 but I think they worked those out in the newest generations.
05 Toyota Sienna just turned 200k yesterday 😄. I have a specialist mechanic, so aiming for $1 million miles. Bought used for $3,500 three years ago.
I have a 10 year Old Ford focus I’ve driven 110k miles in it, I’ve only ever had to change the tyres and brakes and got the timing belt done. I can get another 50k miles out of it. I paid 8k and my insurance is only £40 a month
I had a ford mondeo 09 plate 200k only just gone bang,so got a toyota auris 2017 plate with 32k on the clock see if it passes the 10 year mark😁
i understand that my car is a liability but it's also the source of my income. my 400 dollar car loan brings me a 4000/month income and i write everything off so pay no taxes. add another 300 or so per month in insurance and maintenance and i still think i'm coming out ahead. i just can't handle having a "job" anymore. i like making my own schedule and not having a boss.
Did you factor in repairs, maintenance, insurance, gas, registration, and depreciation? With repairs taking longer times since the pandemic, I don't think a car is worth depending on for a major source of income
These are two seperate topics. Your car is a use asset, yes it can generate revenue.
Your car LOAN does nothing for you. Your whole comment is correct except in assuming you need to pay 400/month for that privilege
@@jacobawojtowiczit wouldn’t be feasible without a loan since i lack the cash. And the cars I could afford with the cash I would have on hand would be rather unsuitable for my purposes and would likely incur increased maintenance costs.
Repairs , depreciation. , registration will get u
@@morganhill2586 i'll still take those over working a 'job'. Small price to pay foir not having co-workers and managers imho. Perhaps one day one of my other business ventures will take off but for now I will just have to settle for this.
Powerful words! Don’t spend money you don’t have!! I learned these six words at a young age from my mother and I’m glad I listened.
They also have these buy now pay later with no interest schemes. Untill you are a day too late. That’s when the very high interest fees kick in.
People always think they can pay it off until they don’t or simply forget
The new economy is more like when you get a raise, all bills go up with it and it's like you never got that raise. There's not even an opportunity to have Lifestyle Creep (spending bigger when your pay increases).
That's the problem most people have with money. The more they make the more they spend when it should be the other way around. It should be the more you make the more you "save".
Life is short. Spend money, enjoy it. It's pointless to live poor and die rich.
You'll not take your money to the afterlife.
I totally Agree with You. So many people do what you mentioned. They are Afraid to live. You have to have a basic level of Enjoyment in Life. If Not, you'll just shut down and Not Care.
True, however, may want to leave something for loved ones.
I would rather say , to live smart by keeping a wealth balance so that you don't topple at old age. Life is uncertain and sometimes cruel bro.
Agreed every enjoyment in life you buy has a time. if you delay that buying you loose the excitement and don't enjoy that much. Life is all about maintaining balance and enjoy and spend the luxuries you can afford rather than thinking for investment all the time and leaving the money for someone else after your life.
Spend 50% of ur money like u only live 50 days, Spend the other 50% like u gonna live 50 more years.
My total amount of car purchase and maintenance in the past 20 years: 25k USD (14k total for initial purchase of every car).
Switched to chase Sapphire Reserve CC with $550 annual fee. Got $300 USD back from buying groceries. Have access to free food at the lounges at the airport from work and personal travels.
No debt, rent at my relatives, >1m nw. Currently working on migrating from the US to Singapore for more opportunities and better and healthier food.
I think Gala going to be the leader in the gaming section, but $AMSA24Q overall high contender in most areas, tech, ecommerce etc
Yes,also in this country we are very good chance to become victim of corporate greed.
I knew the system was unfair in US but I didn't know that you pay more taxes from work that investments as capital gains ??? No wonder some people don't want to work
I think Gala going to be the leader in the gaming section, but AMSA24Q overall high contender in most areas, tech, ecommerce etc
I am from Europe but love your motivational videos anyway. Here the mindset of being an investor is not very common. Also the people are reluctant when it comes to stock etc. And same here: schools don’t teach anything about personal finance and debts. The consumerism and credit card debt is piling up in Europe as well.
This video remind us the importance of financial discipline and proactive wealth building. By shifting from a consumer mindset to an investor mindset, individuals can truly break free from the financial traps that keep them stagnant. 💸
Praise Jesus Christ! Please read in The Holy Bible John 14:6, John 10:10, Mark 8:36, Hosea 4:6, John 3:16-17, Matthew chapter 24 and Revelation 21:8. HALLELUJAH! God bless. HALLELUJAH!
Banks provide an essential service in the USA. One of the reason other countries don’t provide upward economic mobility is the lack of financing available to people and businesses.
I have five credit cards with $64k credit limit. I am planning to max everything and not pay them. I am 79 years old and have free place to stay. I live off social security with good health.
Why max credit cards
Because he is old and they won't be able to collect from him in the grave.
So you don't have anyone living with you? Once you are gone they will take it all and they will be left with nothing
@@mac1bc not necessarily.. credit card debt is one of the hardest to collect on from a living person let alone a dead person.. trust me I've worked the profession for years.
Not a great idea. They will attach everything you have even when you die. Additionally YOUR action will be passed down to the rest of us to pay for! Thanks for being so selfìsh....
Great advice! I realized these things a few years ago but I wasn't able to abide by wisdom. I was just living but now my eyes are open now.
You always do great videos, this one may be among the best. Thanks for your great work.
In a nutshell... dont borrow and NEVER buy fancy cars.. I drive a 14yr old golf and live in a 7 figure house owned outright 😊. Good advice this video.
One problem is how to even begin investing if what you earn is only enough for survival. How many 8hrs of jobs can you even work ? It doesn't add up.
Totally Agree with you. For some reason, he Never mentions that. Either on purpose Or he doesn't Care AND KNOWS MANY WATCHING THIS CAN HARDLY SURVIVE ON THEIR JOB.
Keep your credit decent and open a business
Get training in a skill you can make a better wage. Continue training and raise your value. If your wage still isn't enough seek out an employer that needs your skill level. As an auto technician I worked my way to over 100k a year in wages using this plan. You can do it but you'll never get there if you don't put in the effort.
Don’t use the word old ever when describing people. Use senior or mature.
Inflation is at 7-8% so of you get credit at 8-10% you're getting free money to leverage. No rich person uses their money, they build cash to leverage for more
We owe 34 trillion now and our budget is not even enough to pay the interest.
My first credit card ever at young age, is at 27% . Haven’t really used it because of that reason. I want to close my credit cards
It's highway robbery. Don't fall for the scam.
Keep and use all cards at one time yearly. Keeping your longest credit open keeps your credit score from dropping. It’s also way safer to use credit card and not debit in case of swiper scams
Closing them would actually hurt your credit score. Just use maybe once a year and pay off that month.
Establishing a credit history gives you lower rates on a home or car loan, which can save you many tens of thousands in interest.
If not for credit card i couldnt have bought household appliance.They provided comfort to me.I would have missed out the fun as time is passing by. Money later on won't matter much
Im from Malaysia and live in Germany. Most people here complain about cutting down holidays and dumb shit like that. I’m the bad guy if I try to shine some light having a different perspective. so I now shut up and just do my thing.
Sometimes you have an emergency and need to buy something like a hot water heater, HVAC system, or sewer issue. These are all expensive items!
A lot of Americans don’t have a high income even w/o having a lot of debt to afford investing and/or savings. A lot of people think about leaving the USA. The USA is dying & dysfunctional giving billions to others whilst not helping out its own citizens - shame on USA 😢
UK is the same !
I agree.
Exactly! Look at San Fransisco for Example...😢
Leaving USA to go where…..?
It s a rescue operation do not complaining
Credit cards may be charging you 25% but there is no way you will ever get that in investment returns so you need to stop pushing this as an example as it is unrealistic!
Credit cards usually charge absolutely nothing dude wtf
Maybe not, but I think you’re missing the point, the point he is making is don’t just allow yourself to be a slave to debt and use credit cards excessively to buy things you want for the sake of it. It’s got nothing to do with how much you’ll get in investment returns and everything to do with not being a muppet with your money. Quick take- don’t take things too literally.
@@Metallicarule1991 I am not missing the point though. I can perfectly see the lesson 😃
@@patrickswords I was replying to the original comment saying about the unrealistic 25% interest example.
@@Metallicarule1991 ... he is speaking literally however ... some people are using credit cards as leverage and leverage only .
The only thing you are not telling us is, these wealthy people didn't achieve their wealth soley on their own capabilities. They come from rich families or have had hardcore connections with people in power
You Read My mind. He Conveniently Ignores that Fact AND WILL NOT ADDRESS IT
Correct. Alot of the rich people are silver spoon fed and are born into it.
What a great presentation!!!
This should be presented in high schools.
Most people will be happier with less than more.
People have drumming up the "Dont get a car payment" beat for years now. If people have not learned by now they never will.
Cars are expensive
There are new 18 year olds every day
Beater cars suck
Cars make you enjoy life, take daytrips and to not depend on others and public transportation. Cars value goes beyond its value. This week I’m going to Lake Erie using my car to get there. If you maintain your car regularly you’ll do fine and keep the car for at least 15 years. I’m getting my Jetta an oil/air filter change and rotation.
Not having a Car in North America will handicap you trying to work a job in a city ( like Most people HAVE TO DO). And A Young Pretty Girl Will Not Date a Guy with No Car and Air Conditioning. No car in the 1800s , no one will care. No car in 2024 is basically a death sentence.
You’re right, my friend! Its all about keeping as much people as possible financially and mentally poor! Its all the thruth itself, the naked thruth itself…
Social security was never designed to fund YOUR retirement. It was always designed for current workers to fund retired benifets. It also was never intended to be the sole source of retirement funds for the vast majority of people. It was an emergency safe net for the few with nothing.
It has become what it is because politicians raided the funds collected for other uses. And the extra funds the boomers contributed were spent. Now smaller generations can’t support them on the current level of SS tax collected. Shame on politicians of the past. Votes have consequences. We also need new politicians to lead.
Well said. You're teaching, and I'm learned.
If you buy $1000 used car, you can get stuck with $600/month in repairs.
exactly. He purposely won't mention that. A New, Strong Gasoline Car with Good Cold Air conditioning is A Great Investment!
I bought a car of $7500 and end up spending double mony on that garbage still problems sold that one for $2000 bought brand new one 😂. trouble free no stress in the morning or on the traffic lights.
Whenever I came across your videos and read The Millionaire Fast Lane, I got mad due to the fact that neither school or my parents taught me any of this. Thank you for opening my eyes a few months ago 🙏🏼
So appreciate your time on making these videos- sometimes i just want to hear Im doing things smarter- so many folks around me are living to spend and it can make u feel like you're not 'living'. I take joy in things are downplayed by a spending society...I really appreciate your videos ✨️
According to my sister, we that don't have much money HAVE TO take as much as we can in loans and mortgages, and spend as much as we can in as many credit cards as we manage to have, because if we don't we can't travel around and party a lot, that are the things that really matter in life.
Unfortunately I'm not even kidding.
25 % returns are crazy, I would love to know what pays 25%
Right. I have money sitting safely in CD's because everything else looks too risky
@@mhaas281no risk no reward. Invest money you can afford to lose on investments that carry risk
Brother, your spouting solid facts. God bless!
i have had capital one and had a car with 24% apr and paid it off in a year and feel like they owe me….
I’ve never paid the minimum on credit cards
Good way of thinking about money and life thanks Despreet for great content
Its not only cars that are expensive its the fuel we buy to power it, stuffs super expensive. Here in nz, petrol is $3 per litre. 😬
Got my fingers crossed for BRETT and $AMSA24Q
Definitely paying more attention to my financial wealth i need to do much better.
I want to thank you for the school workbooks, I've been using them with my daughter and they're very helpful...this system is designed to make us indebted...thanks to people like you she will be setup to have a good life!
Workbooks?
Very well done. I learned a lot from this. Thank you!
This should be required to learn in school when you are young and have time on your side!!
In planning on buying a house around 250k and rent it out and move to margarita in Venezuela and live below my means next to the beach. I can buy a apartment for 8k
This is a great message! People need to always be in the mindset of accumulating assets and wealth. My favourite thing to buy is another share of an S&P index fund.
All you said is correct but the main factor to make this happen is your should be smart and have a good plan. You may commit mistakes but learn from your mistakes so it will not happen again. It also depends on how much would be your future needs so you will not do an overdrive especially if you don't have anybody to transfer your wealth. Your last message is about health and spirituality which is seldom mentioned by any investment blogger but is an important part of life.
Good video!! Very informative!!
A lot of people from developing countries do that. As a person for an ex soviet country, saving money is the only way we imagine. The second thing we do, is buying a house, and another if we can save that much. I don’t like wasting my money on expensive things though. As much as makes me comfortable. Not for bragging, as others do. Not more than makes me comfortable, though it is still more than I would like to.