He Made $300,000 - but ONLY has $60 on his ACCOUNT!
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- Опубліковано 10 лип 2024
- 🔥 UNEXPECTED FOLLOW UP AT THE END OF THE VIDEO! Meet Jovany, a first-time business owner whose story is filled with ups and downs. In his first year, Jovany's business made a lot of money, and it looked like everything was going great. But there was a big problem. Even with all this money coming in, Jovany ended up with hardly anything in his pocket. Why? Because his business money was a mess. He didn't plan his finances well, and it showed.
Let's take a closer look at Jovany's adventure. It's not just a story about making and losing money. It's about learning from mistakes, getting better at handling business money, and making smart choices early on.
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🕒TIMESTAMPS🕒
0:00 PARTY STARTS
01:02 WHAT THE HECK IS GOING ON?
03:40 INCOME & ASSETS
09:40 WHAT HAPPENED TO YOUR MONEY?
13:15 EXPENSES & DEBT
19:55 THE REAL FINANCE LIFE
23:46 CREDIT SCORE
30:24 HIS NET WORTH
31:04 THE MONEY CASE
32:37 WHAT TO DO?
42:34 DID HE TAKE ACTION?
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Disclaimer: Please be aware that this video and all other content produced by Romain Faure are not intended to serve as investment guidance or formal financial advice. The information presented is solely for entertainment and educational objectives. The money displayed in our video podcast is for entertainment purposes only and is not real currency. All cash shown is prop money, and should not be mistaken for genuine legal tender. Please enjoy our content responsibly!
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This channel is a hidden jem. Content is well put together and I love the way you balance compassion with a reality check. I hope your channel blows up!
I really appreciate your positive thoughts😊I am hoping we continue to grow as well :)
It’s already blowing up ! when I subbed a few months ago he had 10k less subs
@@larryzan8942 Yes me too!
Hidden for now, he will surely continue to grow!!
This kid is going to be a millionaire in the future.
I agree!
The joy of owning your own business. Some ppl will take advantage of you, buy don’t be discouraged. Every setback a lesson.
Nicely said!
His mother did an amazing job raising this young man.
He is sharp!
An important point from Romain paraphrased: "Don't pay collections in full. You can negotiate collections." Nice work as always Romain!
Hey Romain, your channel has genuinely impressed me. It's like you've cracked the code on discussing personal finances in a way that's not only super clear and practical but also really engaging. The way you dive into such a taboo subject with brutal honesty, yet always manage to keep it light with a dash of humor and a lot of compassion, is truly something special. It makes everyone on your show feel at ease, ready to open up, which, let's be honest, is a rare skill when we're talking money.
What I really appreciate is how you're straight to the point, offering advice that people can actually use. And when you share bits about your own experiences, it just adds to that feeling of chatting with a friend who really knows their stuff.
As a big fan, I'm betting it won't be long before your channel hits the stratosphere in terms of viewers. You've got a knack for making tricky topics accessible and interesting, which is brilliant. I'd love to see something like this for Europe too, especially with the unique financial cultures here compared to the US, like how we use credit cards differently.
Everything you discuss is super fascinating and a great learning experience. A massive thank you from a super fan over here in Madrid, Spain. Can't wait to see where your channel goes next!
Cheers!
🍒
Would love to know more about your financial background and your trajectory in this aspect. Salut!
I truly appreciate your very kind comment! I really do my best to go beyond merely reviewing a number in their bank account. I believe there's always more to the story. Thus, my goal is to truly understand what resonates with them and find the most appropriate way to tailor a recommendation with the highest probability of success, and it seems to work :) If others can benefit from this discussion, then it's a perfect WIN!
I will address this question in the coming AMA, stay tuned :)
Watching this video felt like I was watching a real example of the American Dream. Jovany is young enough (by Western standards at least) to make the mistakes he is making excusable in terms of personal finance. His business finances are a bit of a mess but still better than some owners with twice his experience. He has a good head on his shoulders and a heart that that seems to be in the right place and a few decades to learn and grow. He's really set-up for success and I just hope he has insurance 😭.Wishing him the best. Great episode!
This comment is ... spot on! I could relate to his story in a way as I am trying to build something on my own with this UA-cam Channel, it almost felt I was also speaking to myself too haha😊
I am pushing at 58 years old now. Back when I was 18 to 23 I borrowed loads of money. It meant that I was permanently broke. Nobody told me anything or helped me out. But I realized that this was a dead end. It took me arround two years, and I was out of debt. My salery was mine! I haven't ever owed anyone anything since then. Never will! Travelled the world, always doing what I feel like. Still living frugal. Repairing everything, rarely buy anything. It's just a habit now.
Good luck to this young man. Debt is not an option!
Thanks for sharing. Inspirational journey!
Hey Jovany, I'm not as young as you, but I had a widowmaker a little over a year ago. Remember, no job is worth your life. You can spend money when dead. Keep at it. Pace yourself. Follow your rehab. It can be tough. You might slip up, but life after a heart attack is challenging. Take care of yourself first and foremost.
Health really is the most valuable of all wealth we can have! I hope he achieves all his goals and takes care of himself. ❤
Health will always ... and by far remain #1
You have offered such solid advice that can help Jovany immediately! He really seemed to be listening, I wish him all the best!
Thank you! Jovany's got this!
This kid is going to be huge in the future! I am so proud of him.❤
I agree!
If he is smart, Jovany should pay taxes quarterly, so he won't owe this large amount at the end of the tax year. It is imperative he keep his receipts in order (there should be an app for this, where he can snap his receipts and keep track like that). Stress will cause havoc on one's body, glad he made it to the hospital in time. Glad he recovered and pray he continues to do well in health and on the job
I appreciate how chill you are with your guests Romaine. It's also nice to see a whole array of different situations covered by your channel, some channels fall into doing the same old stuff over and over or pigeon hole the demographics or hosting guests who are just looking to get online to promote their own tiktok or Instagram. Thanks
Hello Donatello, great to see you again! Yes! I try to bring the most variety of background and stories possible :)
Jovany is a hard worker for sure. Best of luck. 👍🇨🇦
Jovany will make it for sure! He has the right mindset!
I always add a 'Like' before watching. It's just that good!
Love your support! Thank you😊
I just found this yesterday and am very impressed.
skills, knowledge, abilities (SKAs) and tools before the toys and fun... and yep, i know that's the hard part when you're young... believe me, we all made those mistakes but success is from learning from your mistakes... this young client has what it takes to be successful... Romain's advice is always "spot on" !!!
I appreciate! and yes although he is on the younger side, I could definitely a successful business owner in him! I think only time and practice will tell :)
What a great episode!!! For just being 24 this guy is a super hard worker with a legit company that's making money! I was not this independent at 24. Kudos to him and also such great advice! No one teaches us in school how to run your own company.
Glad to see you more actively posting , Romain. Great content
Yes I try although I am working off previously recorded content that I thought I was not going to release haha I have started recorded new FINANCE Action in Vegas - coming soon!
Great energy and willingness to learn from that young entrepreneur! Love the tenacity! Congratulations and keep up the dedication
Cheers to you!
I hope he feels better. My dr thought i had a heart attack as well and I had to go to the hospital which ended up costing me 3000$ after insurance for all the testing they had to do. I'm also young as well, 31 years old, luckily I didn't have one but I was glad I have an emergency fund to handle the situation
WOW I am glad you are ok! I also had a heart attack scariness when I was 23, woke up with pain in my chest and did a bunch of tests! Turn out it was a nerve but it is scary!
@@itsRomainFaureyeah same thing with me. My nerves and my ligaments are messed up in my right shoulder
@@itakenaps oh wow I see
Keep going Romain, you’re going to be big!
I learn so much from these videos! Sat down with my partner to talk about finances yesterday because we moved in with eachother last year and both start new jobs this month. It went super smoothly because I was prepared with knowledge about how much our expenses should be, what we should save, where to put our money towards and what the interest on our student loans are! Went in with a clear and reasonable plan and good preparation and we both came out of the talk satisfied and prepared for the future. :) Cant thank you enough!
What an amazing comment! I am SOOOO GLAD you knew how to approach this! Well done :)
IMO Romain, this is your best episode. Sending much love and successful vibes to this beautiful young man.
Thank you so much !!
I'm well impressed with Jovany.
Sorry to hear about the heart attack.
Good luck for the future. All the best from 🇬🇧
I loveee the updates and know they are doing better ❤
Not all of them but we I do my best to make sure they can achieve their goals :)
Great episode! Wow-the update at the end!
Right! I was like WHAT THE HECK! But I am glad he is doing ok ... scary!
Love the new content thx Romain!!!
Thank you! This one is quite different!
Great episode
I appreciate! Thank you :)
Great channel and video. I like the structure. Very clear.
Thank you very much!
Good episode and advice! I think he will be just fine. He’s obviously smart and hardworking! He just didn’t know what he didn’t know. A good CPA will help him a lot.
He didn’t know what he didn’t know. Spot on! Experience is the greatest education!
Smart guest -- he mentioned five- and ten-year goals, which is first time any guest chez vous or chez Caleb has ever used such words!
Can’t wait to watch this episode!
What did you think? :)
@@itsRomainFaure excellent as always. This kid is going places! Great interview.
Amazing young man and Great advice Romain!
I am positive that Jovany will make it !
I agree. This channel and Roman are hidden jems. Wishing both all the best
I appreciate :)
Love this episode! Because I have a business and it's really opening my eyes to what I need to do in my own business. So thank you thank you Romain!
With pleasure! Thank you for trusting me with your time :)
@itsRomainFaure of course! I can tell that your channel is going to go far! Your videos are amazing! And I can see your passion in finance. Now we just need to think of really catchy titles and thumbnails to get people clicking on your videos. Oh and tags. 🙂🙂🙂
You paid to learn, that's good learning! Make adjustments and you're going to do great!!! Good luck for the future
Jovany's GOT THSI!
I love it that you're doing the follow-up with all of them! Great to know if they failed or succeeded🎉
Accountability Check: Did they take ACTION?
Love it. This young man is doing really well for himself and family.
Great video as always. Only wish they were released more often but waiting to have the before and update in the same video is worth it
I bet on quality of the discussion versus quantity, every video brings a different concept! Thank you so much for your support :)
This was a great episode. He had such a great attitude. Keep up the good work!
Jovany is SOLID he will make it!
Wow! You were recommended in the comments of another YT financial show that seems to have lost it's way. What a breath of fresh air! I love how compassionate you are while still recommending important changes. Can't wait to watch more!
Welcome aboard! Thank you so much!
I like watching you Romain - very good channel - very clear education on finances.
I appreciate, Thank you!
Another great episode!! Seems like this guy actually wanted help and wants to succeed!
Yes! I agree! Jovany came with the right intentions!
Good content mate.🎉🎉🎉🎉 im working thrpugh my debt
Let's goo!! Keep me updated! I like your emojis Commentary haha
Excellent advice. Good that this very intelligent, hard working young man is learning these lessons now.
Jovany will make it happen :)
The good thing about this young man is that even though he eventually had a heart attack from so much stress, he has learned and changed his mindset. There are not many young men like him who have experience making $300,000 in one year starting their own business, so even with the bumps and mistakes that he’s made he’s going to be a millionaire one day. Keep learning and growing young man, but always put your health first.🙏🏾
I agree with your assessment!
Superb !
Merci😊
Wow. This episode was inspiring, Romain. Well done to both you and Jovany!
Thank you! I am glad you liked it, a different take :)
You’re welcome!
Wow! This young man is a hustler who rose from the ashes! He really needs to stop being impulsive, get prioritize and organized. He has so much potential and will be in a great position making that kind of money. Wishing him all the best. 🙏🏼 Great show.
I'm the opposite of him. When I thought about starting a business I did tons of research first and got overwhelmed about all the possible taxes I'd have to take care of. He just dived in head first and didn't set anything asside lol. He really lucked out in the end in that front but to have a heart attack at his age due to the stress is crazy. I really wish him luck, but I'm not sure if he's truly done with all the spending since he's having an expensive wedding soon.
That might be his wife’s doing 😂
What a brilliant young man! Wishing him strong health and great success 💪🏽
Thank you for the positive thoughts 👍
He seems reasonable and eager to learn - Yey Romain for helping him start what will probably be generational wealth if not just a good business!
Yes Jovany has the right mindset and learned from experience !
Romain, you have given some brilliant advice here for start up business owners. If I decide to go this route, I will glean from your advice here. I so APPREAITE your channel. Burn the credit cards. LOLOL Blessings.
Thank you for this kind comment :) I plan to do another video where I expand more on the topic
“Everyone in a tough financial spot goes to Hawaii” 😂
I would love to go but I know I can’t yet! That’s what my slowly growing vacation savings fund is for! 😌
Priorities first! Consider checking TIMESHARE PRESENTATIONS my girlfriend and I are going for 5-days for about $499 all inclusive when we do a timeshare presentation there. NEVER ... I repeat NEVER BUY A TIMESHARE!!!!
I'm so glad Jovany is recovering!!
yes and he will perform really good!
Wanting to do all of that for the women's shelter is so kind/thoughtful
Yes very kind !! Happy Women International Day!
CEO with $60… WTF LOL
Yep on his accounts at least :)
I hope he takes it easy for 2 years, after the heart attack. Health comes first. He's young & can learn info now for management. No rush needed.
I agree, and he also has the right mindset!
This kid is a real go getter but he needs to learn he doesn't make $300k, his business has revenue of $300k. Once he understands that he'll do well. I'm not sure what his actual income is.
It was difficult to properly calculate - a lot of which is cash.
I don’t think he knows what his actual income is. He needs a good accountant!
Damn...17% on a car? My first car purchase was also a 2018 hyundai, but i made sure i got into the 0% promotion.
How do you separate the business income from personal income? How would he know how much money to “pay” himself, in terms of retirement savings and so forth?
Love the content. I had 25k in debt going into 2023. Paid it all off in December. Now I'm debt free with an emergency fund and maxed out my 23' Roth IRA going to max 24' by June. Investing in a brokerage account with a goal of becoming a millionaire by 65. In 38 now. Started with Dave Ramsey but taking in as much financial knowledge as possible.
Well done!
A yearly planner. Get in the groove when certain bills, permits, inspections, taxes quarterly.come in. Do an LLC. Pack a lunch. Make 10 sandwiches at once. Yeah, no credit cards.
Why u only have 11k subs when u have more interesting guests than Caleb hammer 😂
Different styles! And we are growing😊
I know multi millionaire. He cuts grass. Now he owns real estate too.
Heart attack at age 24!!?? That’s insane. He must’ve been consuming a crazy amount of caffeine
And stress ! Yes I was surprised too Nate 😨
Excellent program. By the way, it's pronounced "det", without the 'b". Also, it's "children", not "childrens". Just wanted to let you know because when I speak another language people correcting me always helps.
Yes sometimes in the flow of the conversation my prononciation flops haha
@@itsRomainFaure Absolutely. Thanks for your program.
Wonderful channel! Please don’t become like Caleb.
We have very different styles :)
You shouldn’t need a woman to push you to be a better man. What happens if you break up??
But sometimes you need help, man or woman, when you have someone that truly believes in you it can give you the courage to move forward!
There was a doctor with like 3 masters degree and a medical degree who was broke and in debt. Now we have this high school dropout making $300,000 in revenue a year. Education has nothing to do with being wealthy 😂. Let this video be a lesson to both educated and uneducated alike.
Poor Giovanni, but I've learned from a vast body of evidence, that he is wrong about the cause of his heart attack. Unless someone has a congenital defect, the cause is atherosclerosis from a diet high in saturated fat. There is conflicting information circulating in the media, but the best available balance of evidence indicates that the cause is saturated fat and cholesterol.
Stress can cause heart attack as well
I know my father in 2008 suffered from two.
❤ Love the show you and kaleb shoud do a colab 😅...
No, no need for a therapy session during a financial audit lol
Their styles completely clash. I don’t think it would be beneficial for either.
We have different styles for sure, however, it would be my pleasure meeting him!
Seems like this guy has not learned his lessons. He has developed bag habits and will continue making the same mistakes until he breaks the bad habits and money mentality.
Did you check his follow up at the end of the video?
People in poverty having kids in poverty, despite being in poverty. Relying on the Government for handouts. Makes no sense.
I am confused, sorry, how does this link to this story?
@@itsRomainFaureThe parents.
@@barryg4452they have raised a very hard working kid. A lot more than can be said for most parents. He is a good person that needs to fix a few things.
Let's gooo! Talked with you on LinkedIn. Keep it up!
Oh yes! Cheers for being here mate! Thanks for your support 😊
He did what happened to him