My Worst Financial Decisions
Вставка
- Опубліковано 30 лип 2024
- In this video, I will share some of the worst financial decisions that I have made in my life. Have you made any of these financial mistakes in the past? Be sure to subscribe for more videos like this!
💰 Invest for FREE with M1 Finance: mbsy.co/q2MDL
Follow me on Instagram ➤➤➤ / nateobrienn
Get 2.20% Interest on this savings account: bit.ly/2KxY0Qj
Listen to two audio books for FREE by signing up for an Amazon Audible 30 day free trial!!➤➤➤ amzn.to/2DAuty0
Net Worth Tracker (Free): mailchi.mp/0b1fcac705c5/networth
Call me to learn how to grow a UA-cam channel: clarity.fm/nateobrien
Subscribe for more videos like this: ua-cam.com/users/nateobrien?su...
Want to grow your business? Check out Santrel Media’s UA-cam Channel
➤➤➤ / santrelmedia
DISCLOSURE: Some of the links on this page are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Affiliate commissions help fund videos like this one.
I am not a financial advisor. The ideas presented in this video are personal opinions and for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.
Get a free stock when you open an account on Robinhood (valued up to $226): nateobrien.com/Robinhood
(offer subject to change, some restrictions apply)
Protect your family with life insurance today: nateobrien.com/ladder
![Lp. Последняя Реальность #107 РОДНОЙ ДОМ [Финал] • Майнкрафт](http://i.ytimg.com/vi/IK3QKzKUlHM/mqdefault.jpg)
Everyone makes financial mistakes. What is your biggest regret?
Not paying my loans earlier on in life lol
spending 60$ on a useless graphics card 1 year ago.
Biggest regret - not being like warren buffets robot ass and getting into investments when he was 6 years old reading the encyclopedias and running his uncles business
Spending more money on things that were useless to me and spending less money on underwear and socks. Live frugally, but don't skimp out on the important stuff.
buying expensive depreciating vehicles
A mistake is actually a sign that means you're doing something to improve your life, people who don't make mistakes are people who hardly do anything.
Exactly! It’s one of the best ways to learn
Shane Hummus - The Success GPS Nothing wrong with learning from other people’s mistakes as well.
@@joelmiller2601 true brother! learn from others so you can make less mistakes
I only have a loan for college debt but hopwfully will be slashed since it is a good debt. So even though i might not have many loans atleast im not stressing myself to death for taking a loan.
@@NateOBrien The thing about the life & learning experience point you mentioned is that the mistakes aren't enough! most of the stuff youve told me through your videos are things that would have taken me years to make the mistake in the first place. You have to pre-emptively study almost every possible subject. What's your approach to that issue?
The biggest financial mistake I was making for a long time is not understanding that *you are the sum of the 5 people you are around most* and that you should be surrounding yourself with people who are _doing the things that you want to be doing_ because you will drift in that direction.
As a student surrounded by thousands of people who are addicted to instant gratification and partying, not understanding the principle of delayed gratification at all, I eventually came to realize I had to stop hanging around people who were stagnating, and instead be around those who are also growing. This may mean having to end toxic friendships and relationships which can be really hard to do, but sometimes that is necessary to grow 🙌
Could,t be more accurate
Yes. I experienced ending toxic friendships that is just there through the happy times. But, it's gonna get better cuz I found a friend that is also business-minded,not at firtst though cuz we first talked about our dreams in the future then I asked how r u gonna achieve that. Then that's how we became business personsss hahaha don't be afraid!!
My right direction already started
Completely agree!! If you surround yourself with positive people that are doing the things that you want to be doing, you will eventually end up (good or bad) like them, without you even realizing it I’ve cut out so many toxic relationships and it was the best thing I ever did
One of the hardest thing I did was cut ties with a friend because her views in life, financially and otherwise, are not aligned with mine.
Nate: “one of my worst mistakes was being too frugal...”
*Graham Stephan has left the chat*
i think he meant investment
I think he meant to the point where he wouldn’t eat I think that borders on too frugal or “cheap”
Some of our biggest mistakes and regrets involve time and not utilizing it properly...can’t get that back 👍
Most definitely
Makes me think of AW Tozer. Tozer was a prolific Christian writter. The guy was seriously amazing. And pastored a church for many years. A friend of his, Leonard Ravenhill was asked about Tozer during an interview, and Leonard said Tozer was a "miser" with his time. Cracked me up, but there is something to be said for being stingy with your time .. be generous towards people needing your help but manage your time tightly and don't let others waste it.
My biggest financial mistake was not really caring to learn about money until I was close to 30 years old and 50K in debt. I guess I thought if I had a college degree with enough money to live by myself I was fine. But when I started to think of the future (my future wife, kids, vacations, and retirement) I realized how off track I was because I had never actually planned for it.
Never co-sign a loan for anyone.
Never neglect your health, pay for insurance or pay the doctors or dentist.
Never be too frugal, and make yourself miserable.
Have a plan to pay off loans.
Have an emergency fund.
Always eat healthily, and don't neglect meals.
*GREAT VIDEO NATE!* Co-signing a loan is definitely a HORRIBLE IDEA. I have family who co-signed for their son and girlfriend BUT NOW it continues to be a headache... I teach on my channel to NEVER CO-SIGN for anybody...better to just give money to somebody you really want to help. GREAT VIDEO NATE!
Yes, very true. We can either surround ourselves with people who genuinely inspire & uplift us, or settle for the company of those who don’t. Personally, I feel it’s important to seek out connections that encourage us to develop & improve, while still allowing us to be a source of inspiration to those who encourage us as well. Truly reciprocal connections might be a bit rare, but if developed, they can be quite beautiful, & deeply fulfilling. As always, thank you for sharing Nate. Oh...& Please don’t shy away from insightful or “personal” perspectives. They’re so rare in the financial niche, but honestly, I appreciate those “personal” perspectives the most. 🙌💯
Thanks Lisa! Always appreciate your opinion
Co-signing for a friend!
Wow I didn’t even knew something so risky was legal.
I was just thinking that too!
Thank you for sharing your mistakes Nate. It shows how real and how personable you are🙂
Thanks for your input. It’s nice hearing your advice and how you learn from mistakes
Wow I'm amazed with your wiseness. I can't belive that we are same age. You are miles before me when it comes to financial background of life!
Aha. Graham just posted his best financial decisions today. Love your vids Nate!
You are very wise for your age. I wish I seen this video when I left high school. I learned from my mistakes, now living debt free and growing my credit score and accounts. Keep up the good work. 😘😘
Subscribed and notification on. I can’t believe I hadn’t before, my algorithm was showing you many times though
Wow! Thanks!
5:03 I do the same when my friends wanna go clubbing. It's not so much about the money, it's more so about me not enjoying going to the club
Content
is always *superb* ! All I can say is keep it coming =)
Thank you so so MUCH for these contents. I love your Videos. I wish I Knew you more to learn more from you. God bless for real ..
We all make mistakes, and it's just a part of life. Especially when it comes to financial mistakes, I've learnt that we shouldn't dwell on it, feel down about it or even beat ourselves up about it because they happen for a reason, and otherwise we wouldn't grow.
Exactly!
I definitely agree with the cosigning for a friend point. It ultimately ended up costing me personally, nearly 2x, what the initial loan actually was, and to this day I still haven't been payed back.
So impressed with your mindset and overall presentation
Thanks Nate for sharing your personal insights and tribulations; Lessons Learned is a valuable tool 👍
Good point about setting lofty, though not unrealistic, goals.
Awesome Video Nate !!! Great advice to anyone starting out in life !!! Much more meaningful when it is from personal life experiences !!! Love you videos !!!!
One of your better vids. Very good info
For me it was being too frugal in my high school and college years. If I'd know how easy it was going to be to pay off my loans and become financially stable, I would've had more fun. It's tough growing up in scarcity and it's hard to break out of survival mode.
I love these type of videos the financial ones as well but these are epic.
Learnin from the bad decisions is so impt and mature
his face is assymetric like me and I am glad to see someone else and he’s confident and happy which is inspiring
Even though his face isn't perfect, he is so freaking cute!
Vanguard enough said no selling fees I’ve been with vanguard for 2 years love them
Once again...hat off...i repect u. Keep it up!!!
Always a great video, Nate! 🖖
New camera angle alert! Coming to us hot from the corner of the new flat 🔥
Thanks for this video! My biggest mistake was not getting help for debt when it grew beyond 25% of my income. I should have made a $1000 emergency fund, cut up the cards, and then set up auto payments for the cards until they were gone.
Appreciate your wisdom Nate! You've been really inspiring to another young person like me who wants to achieve financial literacy. Don't let the older generation say we're all financially irresponsible! It just isn't necessarily true.
Thanks Brandi!
Nate can you do a video on which is better financially, buying new car, used car, or lease? Also buying or renting house?
Very helpful especially the one about co-signing.
@Stephen Williams I know right? Most people don’t mention that one.
@@Lisa.M.J Yepp. True
Good advice.
Being debt free is an extremely liberating milestone in life.
I would rather come up short on a big goal than crush a small goal. If it’s comfortable is it really a goal at all?
So true Luke!
Agreed. Unless you got a full ride, going to a university out of state is dumb. Majority of the classes (especially gen eds) are basically the same everywhere. Even at community colleges.
I like the lighter background 💯
I love this Nate
Hey Nate, when are you dropping your minimalist apartment tour? Been waitinggggg ⏰😂
Nate what kind of microphone do you use? 🤔
Great video! It's good to learn from others mistakes. It helps better the next generation. 👍🏾
Thanks Caleb
Nate's regret is spending too little, can't relate.
Great video !
Thanks Nikki 🙏🏼
Pretty much everything money related with friends or family often creates tension
Wish there were more men like you Nate !!
My "biggest mistakes" has been having 2 car loans with 23 years old. I don't know, sometimes I don't see it that way and sometimes I do.
Thank you for sharing your experience that I can learn from. Are you interested in being on our show? We really would love to have you on.
Very important video for most to watch. And even if you don’t hang out with the wrong crowd, you can be living in a city that is somewhat high end and you’ll automatically feel like you must “compete” or “be part of the look” by buying things one can’t afford. I found out that if you want the fancy purse or brand, then just buy in consignment stores and not buy a bunch of items that look like the one you really want. If you calculate the total of the stuff you really did not want it’s probably MORE than what item You REALLY wanted. Or get a pre-owned certified car. Why pay full price? For women it’s tough cause we sort of have to look the part but it’s achievable in certain ways. Yes, fees can kill you! Delete, delete, delete them from your life. And I buy mostly organic and if I see a deal (bogo) I get several. Sorry, my dad is from the Great Depression Era and I learned to think - Be a penny pincher yet enjoy life! And my most horrible regret was buying a timeshare!
I regret not learning more about finances in high school and college.
If you enlist in the military, the GI bill will pay your full tuition and give you a pretty big monthly housing allowance. I got to pocket my grants as well and will be able to the next 3 years. Military isn’t for everyone, but the benefits you get afterwards are amazing if you plan to go to college.
A great way to save money and serve your country
Don't let others take your money.
Never, ever, ever, ever, ever cosign a loan. Not even for parents or children. I did it once, and I regret it. Here is another regret -- not contributing to retirement accounts. IRAs and 401Ks were a mystery to me, and I would not consistently invest in them until I was in my middle age, and even then I did not make significant contributions. Start contributing to retirement accounts ASAP, even if you start low and have to gradually increase your savings.
I think that my biggest regret is not going a bit more out on a limb with the home I bought. We bought beneath our means because we are super conservative and now that we'll be looking to sell and retire elsewhere, we aren't going to have a very good ROI and we've lived in a cramped place for 20 years!
hi Nate! Cool hair cut!
Great to hear both sides of personal finance! Love your content! I have a similar video as well :)
Hey thanks!
What do you think about Betterment and Wealthfront for IRA accounts? They automatically balance your deposits in different stocks.
We all make financial mistakes, but those mistakes are the reason for being financially free in the future!!
Yes!
Any resources on how to decide where to focus your time and money when you have a few ideas and limited time and money. Need help in the decision process.
How do you decern which path to take?
@Eugene Trotter What a great question! I’m sure Nate would have a thoughtful response to it. Personally, after weighing the pros & cons of a decision I usually rely on my instincts to be the deciding factor, but I realize that’s not for everyone. I’ve also found that gathering valuable perspectives & research usually helps take the fear out of most decisions....for me anyway.
If you don't own a house start there, you can always work from home, rent out rooms or even borrow against the equity to invest.
@@Lisa.M.J always trust your instincts. Even if they are wrong on occasion.
@CLIFF TALKS MONEY True...& time spent fine tuning those instincts, is surely time well spent. 🙌
Can you write a book, pls thanks
I got a loan for a brand new motorcycle that I “needed” about 15yrs ago. Was late on payment a couple times. I was able to sell it to pay off the loan eventually, but it could have ended up much worse. Now that I’m old and wise, I’ve started taking better care of my finances. Channels like this have really help me along the way. My credit score is now about 773. 800, here I come!
My biggest financial mistakes have been my vehicles. Always had to have trucks and SUV's. Funny thing is during those times I kind of felt in the back of my mind that I should not have those vehicles. I should have listened to that voice. But you can't change the past, you can just go forward and fix your mistakes.
Vehicles are sooooo expensive! I recently sold mine
thoughts on refinancing student loans?
Hahah … never tell your friends or family that you have a truck 🛻 😂
What's out of state tuition?
7:01 where do I find financially smart people in college? They're literally non-existent
It's a paradox, especially if they're paying tens or even hundreds of thousands for that school
Nate, im 17. Should I get an $800 gaming pc for my birthday just to chill out in the evenings and work on projects or save it and invest?
I spent a lot of money on my computer because it saves me time
pc. 800 is nothing when it comes to stocks
Nice content
Thanks!
very, very, very smart young man!
Thanks Lewis!
@@NateOBrien You are even smarter than I thought because you actually reply to comments! You basically started from "ground zero" with nothing in the way of so called "expertise" and very quickly have built the foundation of an empire. You are more informed than 95% of the MBA's coming out of most business schools and 99% of most finance grads coming out of business programs.I intend to stay in touch. You have the "it" factor.
The only mistake I ever made was selling all my bitcoins at $300
That's sad
@@Jake-pz7ue It is!
Graham Stephan uploaded a video: My 5 best financial decisions
My mistake is leaving around $10000 thousand dollars in the bank for 2% interest because I don't understand the market stocks and so on I wish I new how those things work and earn higher interest but on the other hand Ive been free of debt for years and I feel secure free of stress and every month 20 % of my family income goes straight to the TFSA I know I don't get much interest but I'm saving every month at least $3000 dollars no loans
Lucky Strike I don’t think that was a major mistake. You didn’t lose a massive amount of money per say. They do say to have an emergency fund worth about 3x your living expenses and keeping it in a high yield savings is smart
Don't worry 80% of Canadians TFSA is kept in cash, you can start slowly and just purchase mutual funds in your TFSA you don't have to try picking stocks right away
@@clairedubiel6226 Thank you but still I wish I knew more to old for that
6 people in a 3 bedroom?! I don’t think I have any friends I would want to share a room with. Yikes
Can't even find five friends I'd want to share a flat/house with... Yikes
My phone is dead an I need a new phone. But I WANT the iPhone 11 pro, I've got my savings and a good income for a couple of months, I barely have any expenses but we are in the middle of a crisis... Maybe I should just buy the 11... But I want the pro... Buying it would be a mistake?
I bought coffee from starbucks one day so I know what it's like bro
My worst is buying girls drinks. Some how l still do it, really need to stop. Even tho l don't do it often.
Graham just posted a video on his best financial decisions. Coincidence?
What percentage of your savings or income would you use for investing in whatever.
Michael Leppan try 10% to start!
@@remmiellis Like 10% of your total savings?
Michael Leppan
I would save 10% of your income! And once your monthly expenses are covered (rent, bills) I would invest what you have left after that - but find your balance everything works different for everyone 😇🔥
We need your hairstyle tips. Asap. Ly 🧡
I take pride in my hair
Nate O'Brien omg you replied. Ily 😱😭🧡
Mistake I made when i was 25: Buying a property in wrong times and not waiting for the crash..
Enlightening Also if you made a mistake and can talk about it, then you learned from it
Everything is a learning experience!
Told me nothing
You're so cool! :)
Yeah personal vids are good. We wants to know how you think n shit so we can apply it to our own lives :)💴🍸
Do you like tdameritrade?
One of has got to be that hair, buddy. Great video though
Wow I never saw a Nate video with 1 view 😜
I see them every few days haha
balance
Funny how your video is about your worst financial decisions and Graham Stephen just uploaded a video talking about his best financial decisions :D
Jaja cuando el dise cuando yo era joven😂❤️
I would have to say buying a NEW car when I was in college. It's paid off now, but it would have been smarter if I had purchased a used car instead.
definitely.
I made the same mistake. I was able to pay but wish i had the extra money those years. I wouldve had more money and could have invested sooner
You sound just like Dave Ramsey bro. You're the next gen financial guru.
Wow thank you!
Buying a new car cash was a huge lost opportunity cost
You bought a car wash?
@@NateOBrien he paid with cash
Hi Nate! Very pertinent your videos but try to speak smiling
Why?
Where do you get your shirts?