Hi Guys, thanks for watching💝. I have summarized over 7 amazing books on PSYCHOLOGY. You can check them out here - ua-cam.com/play/PLlbl0lCipVePj5kKkSKNk0gHsr7BECrx_.html
Teaching is not just about displaying information to pple but its about someone understanding and getting what you are teaching, and you have mastered that skill perfectly. You are opening our minds more than you can imagine, keep it up and thanks a lot.
In terms of the Oppurtunity cost with a car specifically, you have to factor in more than just comparing 15k to a vacation or investing. Wher I live and where most people live a car is a necessity the question is, what is the opportunity cost of buying a $15,000 dollar car vs. buying a $5000 car. On paper, it's 10k extra for the 15k car, but maintenance and gas might be 3x as much on the 5k car, adding up to the same or more the 15k car over 5 years along with taking up more time for repairs. So when it comes to essentials like transportation, housing, food, health, and other basic essentials the main opportunity cost you have to compare is within the category of what you are buying while determining what's worth cutting and whats worth splurging for your situation and goals.
Your channel is amazing. You're keeping it simple and not trying to reinvent the wheel. But its your delivery and communication skills that really MAKE you stand out. You're literally gonna have 100k subs by September 2023 if not earlier!
I add x amount into credit card before spending, then build shopping list. If you don’t have a shopping list you are shop keeper paradise. Will try to spend with in x amount may shoot little more or less
But what is the opportunity cost if I don’t have my own business and I’m not going to do anything useful anyways? Lol.. but writing this comment made me realize maybe I can spend time on finding a side business to start up or something. I just have no idea what I could do though!
The opportunity cost of owning a car compared to investment over 20 years I think is an unfair comparison. Because a lot of people use the car to get to a job, or use the car to perform a job, not to mention giving you hours of your life back compared to public transportation (if it exists in your area). And 20 years is an arbitrary amount. Why not 5? It makes the opportunity cost look a lot more reasonable. Or 35, which makes it much larger. The point you are trying to make is a valuable one, just don't think this is a good example for it.
if you ever want an investor on selling your magic pen that switches colors... I show pieces of your videos to my girlfriend to help her spend, and save, more wisely. thank you.
Sometimes I just have to watch a video like this one. Not to follow the advice, because I never do unless I was already doing it anyway.. Don't get me wrong, it's good advice and watching it is time well spend.. It just reminds me of how much I dislike thinking about my money. Having a good economy, which basicly means knowing what you're doing, makes a lot of sense. But it is good to keep in mind that money itself has no value. It is a means of trade for not just goods and services, but also things like trust, gratitude and reputation. Having all these things under control without money is a good way to live too. On the other hand, having your money living a life of its own and being your main interest, might be not all it promises to be. To my experience, the best way to go about it is to find the balance that suits you. For me that means having my wife do my money stuff for me and me doing hers. That may seem crazy, but it is somehow easier for me to do finances I'm not personally involved in.
You are right. I tried trading stocks and crypto, and even though you know what you’re supposed to do, you won’t do what you’re supposed to do because you’re personally/emotionally involved in it and you will get greedy etc and lose. There’s Studies where they found out the value of a loss vs the value of a win (of the same amount of money), the loss is 2.5 times more than the loss (so like winning a hundred dollars vs losing a hundred dollars, the loss actually “feels” like losing 250 dollars. It’s called endowment effect. One day when I am more organized financially and secure and comfortable with money I will continue trading!
I've seen about 12 of your videos. After I stumbled upon one of em I wanted more.I started binging them when I stumbled upon one at random. I thought they all where good, except the 34 Rules one. That video was toxic af. I would like it to be removed but that's really not up to me. I guess that you too could make pshycho book reviews - To use your own knowledge to give contrasting thoughts about some questionable tips that are out there. To give alternative ways of thinking and what not. When Anthony Padilla interviewed the biggest youtubers I think one or two said that to make your channel big, try new things. PewDiePie said: "If you only do one thing, no matter what it is it's gonna get dull". I don't know whether he ment 'for you' or 'for your audience'. I guess it applies to both and that that 'for you' it affects how your audience reacts to your voice. All and all; doing what you enjoy spreads your enjoyment.
0:00: 💰 Money illusions and mental accounting can lead to poor financial decisions. 4:41: 💰 Using mental accounting to make smart financial decisions. 7:39: 💰 Understanding opportunity cost and treating all money the same can help improve your financial situation. 11:27: 💡 Every choice has an opportunity cost, and it is important to consider the broader impact of our decisions. 17:26: 💰 The importance of self-control and making strict rules around spending money to avoid regretful purchases. 19:07: 🧠 Language and relativity can influence our spending decisions. Recap by Tammy AI
Any critic of your videos is intellectually lazy. They are solid summaries that generated a year of audiobooks that I listen to 1% more seconds every day. It's set me on a totally different path. I had a small business hospice that just grew a fleet of WHOs to help every aspect of it improve.
I am enjoyong your content and appreciate the way you explain key ideas. I have read most of the books you are discussing and the review is outstanding. I do recommend you hire an editor though. There are many mistakes showing through. Before I was two minutes in I already found a few glaring mistakes (Pending should be Spending, for example, at 0:47). In your title, there is no need for an asterisk inside of parentheses. Placing the dollar sign at the end of the number is very strange if your writing in American English. Sure, little things, but they add up and could discount your message.
Hi Guys, thanks for watching💝. I have summarized over 7 amazing books on PSYCHOLOGY. You can check them out here - ua-cam.com/play/PLlbl0lCipVePj5kKkSKNk0gHsr7BECrx_.html
Hi, I love ur channel. I would love to know how u make ur videos I mean the style. Maybe we can chat on telegram
How can I make videos like this. Very easy to understand
Teaching is not just about displaying information to pple but its about someone understanding and getting what you are teaching, and you have mastered that skill perfectly. You are opening our minds more than you can imagine, keep it up and thanks a lot.
You are welcome :)
Young lady, you are a legend.
Excellent work.
Your voice the way you speak and your knowledge is absolutely beautiful.
Keep on doing what your doing. Never 'pay' attention to 'cheap' shots you are doing an excellent job and I thank you. Have a blessed day
Opportunity cost treating with car example is wow! 👏👏
Your videos are too good like too good
👉📕 Buy the book here: amzn.to/47HRPz5
In terms of the Oppurtunity cost with a car specifically, you have to factor in more than just comparing 15k to a vacation or investing. Wher I live and where most people live a car is a necessity the question is, what is the opportunity cost of buying a $15,000 dollar car vs. buying a $5000 car. On paper, it's 10k extra for the 15k car, but maintenance and gas might be 3x as much on the 5k car, adding up to the same or more the 15k car over 5 years along with taking up more time for repairs.
So when it comes to essentials like transportation, housing, food, health, and other basic essentials the main opportunity cost you have to compare is within the category of what you are buying while determining what's worth cutting and whats worth splurging for your situation and goals.
Your channel is amazing. You're keeping it simple and not trying to reinvent the wheel. But its your delivery and communication skills that really MAKE you stand out. You're literally gonna have 100k subs by September 2023 if not earlier!
I'm new to your channel I'm obsessed thank you for all of these videos it already has helped me heaps
Thank you for creating this informative video. I felt like it was worth my time to learn this information. 👍
Interesting thought about opporunity cost is, the cost to your health and mind, you are very right about the cost, but what are we spending?
I add x amount into credit card before spending, then build shopping list. If you don’t have a shopping list you are shop keeper paradise. Will try to spend with in x amount may shoot little more or less
Mighty fine, mighty fine.
Wow I never heard stuff explained like that! Lol
Very good!
Great video… the book “the psychology of money” is great for how to think about money smartly!
good book
Super informative, thanks
Getting whatever I want without worrying about it..priceless
thanks for the excellent video.
Really helpful, interesting content, thank you 🙏🏻
Love your videos, thank you for the great content :-)
Please add the words you say on the screen because some of them are new words
Jeff Bezos certainly would not leave a negative comment. But somehow I can imagine Elon Musk might...
No Besos would
Hahaha maybe just maybe
That’s pretty cool video.
But what is the opportunity cost if I don’t have my own business and I’m not going to do anything useful anyways? Lol.. but writing this comment made me realize maybe I can spend time on finding a side business to start up or something. I just have no idea what I could do though!
Wooooooooow this is so priceless...❤
Very cool video, feel like I´ve educated myself. Thanks :D
The opportunity cost of owning a car compared to investment over 20 years I think is an unfair comparison. Because a lot of people use the car to get to a job, or use the car to perform a job, not to mention giving you hours of your life back compared to public transportation (if it exists in your area). And 20 years is an arbitrary amount. Why not 5? It makes the opportunity cost look a lot more reasonable. Or 35, which makes it much larger. The point you are trying to make is a valuable one, just don't think this is a good example for it.
How long does it take to make these videos? They are so cool.
Subscribed🤝
But the table on the left IS longer. I just measured it.
15,000 in 20 years isn't the same as today.
if you ever want an investor on selling your magic pen that switches colors...
I show pieces of your videos to my girlfriend to help her spend, and save, more wisely.
thank you.
Please make this individual samples in Shorts
Opportunity Cost... Elon Musk... Twitting 😂
After this advice how many of you will not use self check out and less non-cash payments 🤔 it's deeper than explained 🙄
Sometimes I just have to watch a video like this one.
Not to follow the advice, because I never do unless I was already doing it anyway..
Don't get me wrong, it's good advice and watching it is time well spend..
It just reminds me of how much I dislike thinking about my money.
Having a good economy, which basicly means knowing what you're doing, makes a lot of sense.
But it is good to keep in mind that money itself has no value.
It is a means of trade for not just goods and services, but also things like trust, gratitude and reputation.
Having all these things under control without money is a good way to live too.
On the other hand, having your money living a life of its own and being your main interest, might be not all it promises to be.
To my experience, the best way to go about it is to find the balance that suits you.
For me that means having my wife do my money stuff for me and me doing hers.
That may seem crazy, but it is somehow easier for me to do finances I'm not personally involved in.
You are right. I tried trading stocks and crypto, and even though you know what you’re supposed to do, you won’t do what you’re supposed to do because you’re personally/emotionally involved in it and you will get greedy etc and lose. There’s Studies where they found out the value of a loss vs the value of a win (of the same amount of money), the loss is 2.5 times more than the loss (so like winning a hundred dollars vs losing a hundred dollars, the loss actually “feels” like losing 250 dollars. It’s called endowment effect.
One day when I am more organized financially and secure and comfortable with money I will continue trading!
@@Svenshine Try gaming it, or doing it for someone else.
Maybe that works for you.
I've seen about 12 of your videos. After I stumbled upon one of em I wanted more.I started binging them when I stumbled upon one at random.
I thought they all where good, except the 34 Rules one. That video was toxic af. I would like it to be removed but that's really not up to me.
I guess that you too could make pshycho book reviews - To use your own knowledge to give contrasting thoughts about some questionable tips that are out there. To give alternative ways of thinking and what not.
When Anthony Padilla interviewed the biggest youtubers I think one or two said that to make your channel big, try new things. PewDiePie said: "If you only do one thing, no matter what it is it's gonna get dull".
I don't know whether he ment 'for you' or 'for your audience'. I guess it applies to both and that that 'for you' it affects how your audience reacts to your voice.
All and all; doing what you enjoy spreads your enjoyment.
WooOooOooOooOw❤
0:00: 💰 Money illusions and mental accounting can lead to poor financial decisions.
4:41: 💰 Using mental accounting to make smart financial decisions.
7:39: 💰 Understanding opportunity cost and treating all money the same can help improve your financial situation.
11:27: 💡 Every choice has an opportunity cost, and it is important to consider the broader impact of our decisions.
17:26: 💰 The importance of self-control and making strict rules around spending money to avoid regretful purchases.
19:07: 🧠 Language and relativity can influence our spending decisions.
Recap by Tammy AI
Mahaho
The more i listen to this video, the more i feel like it's Dana DeLorenzo speaking to me. When are you gonna tell me how to kill deadites ? 😂
Any critic of your videos is intellectually lazy. They are solid summaries that generated a year of audiobooks that I listen to 1% more seconds every day. It's set me on a totally different path. I had a small business hospice that just grew a fleet of WHOs to help every aspect of it improve.
Speaking of DUMB. It's $1000 not 1000$. The dollar symbol comes before the amount.
Do you say "dollars twenty" or "twenty dollars"? $20 20$
@@Eaglemadhatter It doesn't matter. It's written as $20. Then ¢ symbol follows the amount if less than $1.
Someone just found out they were adopted...douche
Love your content , more power to you ❤
Our life is not measured only by money. For example, if you go fishing, one small fish will cost you a hundred times more than in the supermarket.
I am enjoyong your content and appreciate the way you explain key ideas. I have read most of the books you are discussing and the review is outstanding. I do recommend you hire an editor though. There are many mistakes showing through. Before I was two minutes in I already found a few glaring mistakes (Pending should be Spending, for example, at 0:47). In your title, there is no need for an asterisk inside of parentheses. Placing the dollar sign at the end of the number is very strange if your writing in American English. Sure, little things, but they add up and could discount your message.
You are very smart, thank you very much !!!
It's really an eye-opener 😮!!
Whoever’s behind there, you are my new favorite person. Keep up the good work. ❤❤