Hi everyone! Thanks for supporting the channel. I have lots of videos planned for this coming month! Feel free to send video ideas to me on Instagram: @nateobrienn
When will you do a video shirtless? No excuses. Don't give me that Diane Keaton Woody Allen line, "I'm from Philadelphia; we believe in God." This is UA-cam, where it's all about the view count. Go get 'em, tiger.
You mentioned you read a book a week. Could you do a video on what kind of books you read and what you get out of them? I know you did a video on the five books that changed your life, but I'd like to see something more detailed.
That's actually great - less competition for entrepreneurs like me. Although, competition is good, because it pushes oneself to improve and produce more value - but you know, if everyone would be rich, then nobody would be rich. Although, I'm abundant and I always share my wisdom and money education to whoever listens, BUT, if it had been taught on such a scale like the educational system, that'd be a problem for all of us. So let's be glad they don't teach this stuff in schools.
I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
I understand that tomorrow isn't promised to anyone, but investing today is hard for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.
I invest across the top markets but not by myself though. I follow the guidelines of *Nolan Velden Brent.* you might have heard of him. I can correctly say he's worth he salt as an investment advisor as he diversification skills is top-notch, I say this because I see that in his results as my portfolio grows by averages of 20 to 3O% every month, unlike I can say for my IRA which has just been trudging along. my portfolio just mirrors what he places and not just on some particular industries of my choosing. he gave me that financial freedom I needed.
search him up on the internet with his name. he's quite popular for his services as he was recently featured on CNN. he can work with anyone irrespective of where you're located.
I will post this every single time you post a video in 2020 as an acknowledgement how meaningful your videos have been to me. The more likes the more people are acknowledging you too man. #5
1. Money won't fix your problems but it will certainly fix the ones you're stressing out on the most. Getting rid of money problems let you concentrate on other things.
Lifestyle inflation - this one is key.. it doesnt matter how much money you make, it matters how much you save. And then what you do with that save money. There is a very big difference between income & wealth
Absolutely agree. Total savings and what you do what that savings is the determining factor to building wealth. Tyler, do you invest in the stock market? 🤔
lifestyle inflation is good as long as your savings rate stays at your optimal level. I don't understand people who just want to save more money and spend the same reaching 99.9% savigs rate the same way as I don't understand people who save nothing.
I have always been dumb with money (never known anyone smart enough to mentor me). Since I've started watching nate I've started paying my debts off, and actually saving. So I thank you good sir.
Nate O brien seems like a good friend to have. My type of friend. Rare these days. He's low key, smart, someone who can inspire you, and even respect your space as one would respect his.
Money is never evil. The love of money and what people do with it can be. Can't believe people still to this day say that. Glad you explained it here to set it right.
17 minutes later, I have increased my human capital ! Feeding my mind with yours video in the morning when I don't feel like reading. Always get so much value from it ! Thank you for sharing
I've learned more from you than I have at school man! All my respect goes to you. :) Also I started my own channel due to you inspiring me, and I was wondering if there are any tips/advice you could give to a newbie like myself?
Good point about lifestyle inflation. A higher salary is usually followed by higher expenses. But hey, we all are into personal finance on here and don't increase expenses too high, right!?!
I really liked number 12. Someone once said to me "the two hardest part about investing is figuring out how to Pay Less in taxes." And I really think that this is true. Good stuff.
Did y’all know it’s impossible to breathe while smiling?? Kidding just wanted y’all to smile. If you’re reading this bruv (or bruvette), understand that you are amazing bro, have a blessed day and don’t let nobody ruin your day bro. Get ya bread and all the crumbs too. 🤧🙌🏾🔥
Thx for your video, Nate. I've always found it interesting that people work so hard for their money, but they generally put little into how to minimize their taxes or how they can maintain and grow their money with investing. I think your #11 is about being balanced in all things.. Live life, spend pragmatically.. The decisions you make today will impact what happens tomorrow.
I'm learning English , I found this channel such a great way to practice language , Giving an important topics in a simple way that's so impressive. Keep it up .
Thanks for sharing these Nate! Being good with money is one of the most important skills in life. If you can learn to follow the laws of money, you can have the lifestyle that most people can dream about!
Damn great work dude, an Audible sponsor is huge! Seeing your growth and commitment to sharing helpful financial information has been a huge inspiration. I have been going back through your old videos to try and study your progression. Hopefully with time and effort I can aim to achieve even a fraction of what you have. Keep it up, you deserve all the growth you have seen!
Excellent rules to keep in mind. It blows my mind how many people ignore some of these. Ive seen a few of your videos and I love not only the content itself but how you present it. I find myself listening to the very end. And I always hear something I can put to use right away. 😀👍
Lifestyle escalation is one of the biggest things! I give my son money every so often but it doesn't seem to change anything, it just means more fast food etc. It's very disheartening to know what he could do just by investing half of what I give him. Live like you are poor.
Heather Smith explain this to him. Don’t stand idle and let him waste, even if he doesn’t listen at least he will always have the savings/investment potential in the back of his mind.
This was nice Nate, thanks. My own version of the/your '24-hour rule' is this: When I consider any non-essential purchase, I imagine to myself that the item regardless of its cost is actually free to me. I further imagine that I now have the item and project how I use it , when I use it, etc. It often amazes me how quickly things can become ultra-clear when you mentally take its price out of the decision picture. This has enabled me many happy acquisitions (some very pricey) and lowered my bouts of 'buyers remorse' to near-zero. Just a thought.
Hi thank you for your vid..we have been blinded by so many ideas about money, just like what you mentioned about it as being evil. We need people like you who are not afraid to tell everyone the function of money. How to use and value it and that knowledge of finance is important. Thank you so much. Keep doing what you are doing and keep educating us about money... God bless you indeed.
Nate - great content and delivery, please don’t feel the need to pump more “energy” or background music your videos! It’s this calm and chill approach that makes your material so easily retained and i can actually focus on what you’re saying!
Hi Nate -- thanks for another great video! You may also want to add in the importance of giving some money away to charity or those people in need, basic philanthropy. Almost all successful business people donate money, time and resources to charitable causes, disadvantaged folks, and those in need. It is good karma and what goes around comes back again sooner or later. Even if someone has a low income, limited assets, and barely enough resources to get by, it is a good idea to give something away, even if it is just a couple of dollars. This is a good principle to live by and the benefits are substantial. Just speaking from personal experience here and what I have read about successful business professionals.
The money and happiness thing really annoys me. When I tell people I'm focusing on my money the amount of people who say money doesn't make you happy is so annoying. Money and happiness are 2 completely separate issues and should always be treated that way
Love your videos. Totally agree with lifestyle inflation. Also, just remember whomever that said "money is not everything," certainly did not have any. Money cannot cure depression but, can pay for that holiday in the Caribbean, and good medical care 😊
Great tips! I think #6, that money follows attention, is one that pretty easily sums up how you can make more money in your life, especially if you are in the self employed world, or in sales. You have to get attention by making connections or by making content, and that will bring more money into your life.
16:02 "dont get me started on cars" 😂😂😂👍..i buy used salvage btw, i got my car for about $2,000 and it had 87k miles on it " i need a car so i had to get one"
I am still going to buy the Cybertruck despite the fact that I know it is 133% of my salary, but 100% of my net worth. I'd be confident that I can pay for half of it upfront, make sure the loan is 1.5-2 years TOPS, and it is about one and a half years before the first model is made. I will always have to own a car, so buying a new vehicle might make sense for me if I can own it for 20 years. What causes me to go against everything I know screaming how much of an idiot I am, is that I speculate this vehicle will be very resilient to breaking down. Maintenance is fewer and farther between for the electric Teslas. Basically, what I am trying to say about the wear and tear is that it may be cheaper to own over many years, but this is hard to prove against a $39,000 price tag. It would have to be essentially free to drive after purchase for 5 years to be at exactly the average each American spends on their car per year. Comes out to about $9,200, and that's after the truck gets taxed.
Came across your channel of few weeks ago and have been binge watching ever since. I come from an accounting background as well but not as extensive as you. I really admire your financial literacy for someone who’s my age. Throughout the vid you kept saying you’re not a financial advisor, but perhaps it could be something you could consider as a consulting position. Cause I sure would hire you lol Keep up the great content :)
Regarding Rule 12: it is mind boggling that people don’t research more about taxes or at least get a good accountant especially when sometimes 40%+ goes to taxes. The rich get much much richer because they are smart with their taxes!
If by 'people' you mean those with high incomes who take a haphazard approach to managing their money, then I agree. But most people don't have enough money for an accountant, let alone a good one, in addition to their tax burden. Sure, they could research, but one has to be fairly knowledgeable to begin with in order to decode our convoluted tax system, which itself is a burden on the poor. In this case, the rich get richer because they have enough money to pay smart people to do the work for them.
My goal for the rest of this quarter is to understand what's actually going on with my income tax...its always been "out of sight, out of mind" for me but its about time I figured out taxes.
Excellent advice! These are good money truths that everyone should learn. I agree that money is a tool that can be used for good or evil. And money will not make you happy. Some of the richest people in history have also been the most miserable.
Nate, your channel is truly inspirational. I even make videos on similar topics to help people create financial security and financial freedom for themselves. Thank you
I trade Forex with an expert and I am able to earn more than what my job pays, I save more and spend cool. It's really awesome getting involved with this online trading of a thing. Wish I had the knowledge for myself.
I always share your videos with my girl aged 20 and 17. I’ve taught them all I know but I know they enjoy hearing this from someone else. Do you have a black eye...sorry the mum in me.... hope it wasn’t too painful. Thanks for the info.
9 Laws of Money 1. Money is just a tool, don’t think of it as something that will solve all problems 2. The Law of Capital. There’s physical capital and human capital. Physical capital is investing into real life assets. Human capital is thinking about investing into yourself, going to university, reading books etc. Audible is a good tool. 3. There is good debt and bad debt. There are certain types of debt that you can use for leverage, such as real estate. High interest, insecure debts aren’t good debts. Student loan can be seen as a good debt, if you go for the correct degree. 4. Lifestyle inflation. Many atheletes or lottery winners go broke, because they don’t have the basic understanding of financial money management. They spend more than they earn. 5. Money follows attention. You don’t always wanna go for the money but if you focus on the attention and audience building, the money usually follows. Anything that has attention around it has money potential. 6. Understand your loans. If your getting a mortgage, look at the interest rate as well as the monthly cost. 7. 24 hour rule. Whenever your going to buy a big ticket item, sit on it for 24 hours. Then if your still excited about it, buy it. Think about the pros and cons of every purchase. 8. Think of the rule of 72. It shows you how fast it’s going to take to double your investment. If you wanna know how long it takes for you to double your money on a 10% interest rate, take 72 and divide it by 10, which is the interest rate. That’s 7.2 years. 9. Money won’t fix all. If your depressed or upset in some way, money is not going to fix all your problems, it’s more about your mindset
The alchemist is a great read. Also the inflation of lifestyle is a big one that lots of out of college / university (like me) young adults need to be careful of. Just finishing living on £1000/m student loan (£700 goes to rent) and jumping to £2200/m can great misconceptions about the value of money and what you NEED vs what you WANT.
I really do not like Yanks, and i generally do not like young people, but you sir, are a cool, clever, Yankee young person. Long may you prosper!!! Love from Australia!!
Thank you for making these very usufull information. I will refer this to my daughter. She should watch your channel more often than the other z and millenial generation that make her willing to spend more money than use it wisely. She is16, so it’s not too late.
Great content as usual Nate! Was planning to make a similar video and this inspired me to a few points to the ones I had already planned. Can’t wait to see what’s next
@@MRZEROTOINFINITY Definitely recommend it! Simple and easy read, but packs a good punch! Current reads I'm bouncing between are "7 Traits of Highly Effective People" by Stephen Covey and "The Simple Path to Wealth" by JL Collins. Good food for thought in each thus far. I'm gonna have to check out that book you mentioned too, sounds interesting from the blurbs I pulled up for it!
@@zackkochetta I heard good things about The Simple Path to Wealth. It's on my list. Thanks for the other suggestion 7 Traits of Highly Effective People. We all can work on being more effective!
Great video, I’ve saved over $1K on the first month of 2020 just by following some of your advice, also where did you get your long sleeve t shirt? looks awesome!
One thing, you talked about good and bad debt at one of the points and in the “understanding your debt” you said “pay your debt as soon as possible, which is not always good strategy in cases of good debt with low interest rate Just thought it is important to address it
Most of your advice you wouldn’t need a financial planner, it’s just common sense. Btw, I do like the background music. Great video Nate, thanks so much😊
This is okay advice if you don't have anyone else in your life and it's just you. When you have kids, your mind changes and works differently, and you think of what happens to your family after you're gone as if that's how you've always thought of it.
Hi everyone! Thanks for supporting the channel. I have lots of videos planned for this coming month! Feel free to send video ideas to me on Instagram: @nateobrienn
Thanks Nate. Can you also list your suggestions on your description? I know Graham Stephan and Alpha M does this as a guide
When will you do a video shirtless? No excuses. Don't give me that Diane Keaton Woody Allen line, "I'm from Philadelphia; we believe in God." This is UA-cam, where it's all about the view count. Go get 'em, tiger.
Check your insta inbox 🤗
I hope you make a financial video to people ho leaved in poor countries and thanks alooooooot nate.
You mentioned you read a book a week. Could you do a video on what kind of books you read and what you get out of them? I know you did a video on the five books that changed your life, but I'd like to see something more detailed.
Imagine if this was taught in school how much better would society be better with money
It’s crazy right...didn’t take one personal finance or investing course in high school. UA-cam has so much value!
Damian Malczewski 👍
sadly they do not
And that’s exactly why it isn’t :(
That's actually great - less competition for entrepreneurs like me. Although, competition is good, because it pushes oneself to improve and produce more value - but you know, if everyone would be rich, then nobody would be rich.
Although, I'm abundant and I always share my wisdom and money education to whoever listens, BUT, if it had been taught on such a scale like the educational system, that'd be a problem for all of us. So let's be glad they don't teach this stuff in schools.
I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
I understand that tomorrow isn't promised to anyone, but investing today is hard for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.
I invest across the top markets but not by myself though. I follow the guidelines of *Nolan Velden Brent.* you might have heard of him. I can correctly say he's worth he salt as an investment advisor as he diversification skills is top-notch, I say this because I see that in his results as my portfolio grows by averages of 20 to 3O% every month, unlike I can say for my IRA which has just been trudging along. my portfolio just mirrors what he places and not just on some particular industries of my choosing. he gave me that financial freedom I needed.
search him up on the internet with his name. he's quite popular for his services as he was recently featured on
CNN. he can work with anyone irrespective of where you're located.
I will post this every single time you post a video in 2020 as an acknowledgement how meaningful your videos have been to me. The more likes the more people are acknowledging you too man. #5
Thank you niko!
❤
You're the only person I can listen to on YT talk for 15 min and not get bored
Doesn’t own a car, doesn’t use a dryer for cloths, doesn’t know how to cook (eggs), drinks out of a mason jar. What a guy😂 he’s certainly original 👍
Love him.
I think very smart love his vidios
Or pancakes lol and mow lives in his truck lol only millionaire doing that most likely lol 😂
Right! That’s exactly why he’s a millionaire laughing all the way to the bank while others don’t get it. It’s call Financial minimalism.
1. Money won't fix your problems but it will certainly fix the ones you're stressing out on the most. Getting rid of money problems let you concentrate on other things.
I love how chill this channel is such a relief
Lifestyle inflation - this one is key.. it doesnt matter how much money you make, it matters how much you save. And then what you do with that save money. There is a very big difference between income & wealth
Absolutely agree. Total savings and what you do what that savings is the determining factor to building wealth. Tyler, do you invest in the stock market? 🤔
To me you're wealthy when you have a good heart & Give back
lifestyle inflation is good as long as your savings rate stays at your optimal level. I don't understand people who just want to save more money and spend the same reaching 99.9% savigs rate the same way as I don't understand people who save nothing.
I have always been dumb with money (never known anyone smart enough to mentor me). Since I've started watching nate I've started paying my debts off, and actually saving. So I thank you good sir.
If I only have to choose ONE SIMPLE SKILL to dominate all the Money's Laws, it must to be this: DELAY GRATIFICATION
Sacrifice today for a better tomorrow
Its not only about make money, also how to keep it
We’re all humans. We just need to rewire our brain 🧠 and think long-term! As everyone mentioned, SACRIFICE and PATIENCE
🙌🏻
As Dave Ramsey would say, Live like no one else, so later you can Live like no one else.
Nate O brien seems like a good friend to have. My type of friend. Rare these days. He's low key, smart, someone who can inspire you, and even respect your space as one would respect his.
Money is never evil. The love of money and what people do with it can be. Can't believe people still to this day say that. Glad you explained it here to set it right.
17 minutes later, I have increased my human capital ! Feeding my mind with yours video in the morning when I don't feel like reading. Always get so much value from it ! Thank you for sharing
Start a podcast please. Write a book. I can listen to you all day.
I've learned more from you than I have at school man! All my respect goes to you. :) Also I started my own channel due to you inspiring me, and I was wondering if there are any tips/advice you could give to a newbie like myself?
Good point about lifestyle inflation. A higher salary is usually followed by higher expenses. But hey, we all are into personal finance on here and don't increase expenses too high, right!?!
‘’You must gain control over your money, or the lack of it will forever control you’’.
true
Yeah ! Don't use credit cards.
#13 The lack of money is the root of all evil...
The love of money is the evil.
I really liked number 12. Someone once said to me "the two hardest part about investing is figuring out how to Pay Less in taxes." And I really think that this is true. Good stuff.
I know your not a "financial advisor" for liability sake. But you are financially advising for us poor souls in a way and we appreciate it.
Did y’all know it’s impossible to breathe while smiling??
Kidding just wanted y’all to smile. If you’re reading this bruv (or bruvette), understand that you are amazing bro, have a blessed day and don’t let nobody ruin your day bro. Get ya bread and all the crumbs too. 🤧🙌🏾🔥
U TRICKED MEH THNX
I think it's good to have a "saving" mindset, but also that it's good to enjoy the fruit you bear.
Great video. Gathered some value!
100% A saving mindset really sets you apart from the rest!
Sometimes I feel like watching these videos more worth my time then going to class.
Or you could watch these videos while in class!
Touché
Me in school trying to read under the table at the same time as looking like I'm doing the work...
The regular school system is broken
Thx for your video, Nate. I've always found it interesting that people work so hard for their money, but they generally put little into how to minimize their taxes or how they can maintain and grow their money with investing. I think your #11 is about being balanced in all things.. Live life, spend pragmatically.. The decisions you make today will impact what happens tomorrow.
7th law - so true. A lot of people I joined my first job with bought $3k beds and benzes. Great content, Nate!
Glad you agree
I'm learning English , I found this channel such a great way to practice language ,
Giving an important topics in a simple way that's so impressive.
Keep it up .
Thanks for sharing these Nate!
Being good with money is one of the most important skills in life.
If you can learn to follow the laws of money, you can have the lifestyle that most people can dream about!
Thanks Arie
He has. youth , health , education , and an extremely sensible view on life skills . WATCH HIM and LEARN !
He's a 💎
First and only affiliate link I’ve ever used. Thanks for being transparent 😊
Thanks Nadia! Really appreciate it!
Honest and reliable.. You are a true master! Big up from Rome Italy
Damn great work dude, an Audible sponsor is huge! Seeing your growth and commitment to sharing helpful financial information has been a huge inspiration. I have been going back through your old videos to try and study your progression. Hopefully with time and effort I can aim to achieve even a fraction of what you have. Keep it up, you deserve all the growth you have seen!
Thanks Will
@@NateOBrien Any time dude, you work hard and it shows!
Excellent rules to keep in mind. It blows my mind how many people ignore some of these. Ive seen a few of your videos and I love not only the content itself but how you present it. I find myself listening to the very end. And I always hear something I can put to use right away. 😀👍
400 dollar a month apartment made me...what. I wish! Really love your videos and glad I finally found this channel!
Alot of what you say seems so obvious and yet it isn't. Please keep these videos coming learning alot here.
So glad to watch your channel blow up!
Lifestyle escalation is one of the biggest things! I give my son money every so often but it doesn't seem to change anything, it just means more fast food etc. It's very disheartening to know what he could do just by investing half of what I give him. Live like you are poor.
Heather Smith explain this to him. Don’t stand idle and let him waste, even if he doesn’t listen at least he will always have the savings/investment potential in the back of his mind.
Alot of the principles you mentioned are mentioned in Rich Dad Poor Dad which was really cool to see. Thanks for the video
This was nice Nate, thanks.
My own version of the/your '24-hour rule' is this: When I consider any non-essential purchase, I imagine to myself that the item regardless of its cost is actually free to me. I further imagine that I now have the item and project how I use it , when I use it, etc. It often amazes me how quickly things can become ultra-clear when you mentally take its price out of the decision picture. This has enabled me many happy acquisitions (some very pricey) and lowered my bouts of 'buyers remorse' to near-zero. Just a thought.
Hi thank you for your vid..we have been blinded by so many ideas about money, just like what you mentioned about it as being evil. We need people like you who are not afraid to tell everyone the function of money. How to use and value it and that knowledge of finance is important. Thank you so much. Keep doing what you are doing and keep educating us about money... God bless you indeed.
Nate - great content and delivery, please don’t feel the need to pump more “energy” or background music your videos! It’s this calm and chill approach that makes your material so easily retained and i can actually focus on what you’re saying!
I would be interested in more videos based on taxes. Specially for first timers like how to do your taxes
Hi Nate -- thanks for another great video! You may also want to add in the importance of giving some money away to charity or those people in need, basic philanthropy. Almost all successful business people donate money, time and resources to charitable causes, disadvantaged folks, and those in need. It is good karma and what goes around comes back again sooner or later. Even if someone has a low income, limited assets, and barely enough resources to get by, it is a good idea to give something away, even if it is just a couple of dollars. This is a good principle to live by and the benefits are substantial. Just speaking from personal experience here and what I have read about successful business professionals.
The money and happiness thing really annoys me. When I tell people I'm focusing on my money the amount of people who say money doesn't make you happy is so annoying. Money and happiness are 2 completely separate issues and should always be treated that way
Yours videos are what inspired me to start uploading content myself. Thanks for another video, and for sharing all this info!
I love the content and presentation, personally the music is distracting, does anyone else feel the same?
I didn’t even notice music until I read your comment lol, now it’s distracting me
Thanks for all these videos. Good things to keep in mind!
Oh please talk more about taxes and all about that is so interesting 🤔 I wold love to hear wat you think
Thanks so much for the awesome video Nate 🔥 This will definitely help me grow my business and improve my mindset & finances!! Keep it up! 💯💯🙌
Love your videos. Totally agree with lifestyle inflation. Also, just remember whomever that said "money is not everything," certainly did not have any. Money cannot cure depression but, can pay for that holiday in the Caribbean, and good medical care 😊
Great content as usual Nate! 👍🏼
Great tips! I think #6, that money follows attention, is one that pretty easily sums up how you can make more money in your life, especially if you are in the self employed world, or in sales. You have to get attention by making connections or by making content, and that will bring more money into your life.
It definitely does, where there are eyes there is money.
Totally agree. There are unlimited revenue streams when you have attention. Instagram influencers are one big example.
@@AussieMoneyMan 100% agree!
@@MRZEROTOINFINITY Yeah exactly! Or any online social media platform for that matter
Cody Steck Real Estate Videos Yup. Kylie Jenner is laughing to the bank 💰
16:02
"dont get me started on cars" 😂😂😂👍..i buy used salvage btw, i got my car for about $2,000 and it had 87k miles on it " i need a car so i had to get one"
I am still going to buy the Cybertruck despite the fact that I know it is 133% of my salary, but 100% of my net worth. I'd be confident that I can pay for half of it upfront, make sure the loan is 1.5-2 years TOPS, and it is about one and a half years before the first model is made. I will always have to own a car, so buying a new vehicle might make sense for me if I can own it for 20 years. What causes me to go against everything I know screaming how much of an idiot I am, is that I speculate this vehicle will be very resilient to breaking down. Maintenance is fewer and farther between for the electric Teslas. Basically, what I am trying to say about the wear and tear is that it may be cheaper to own over many years, but this is hard to prove against a $39,000 price tag. It would have to be essentially free to drive after purchase for 5 years to be at exactly the average each American spends on their car per year. Comes out to about $9,200, and that's after the truck gets taxed.
Choosing to be positive and having a grateful attitude is going to determine how you're going to live your life.
Joel Osteen
Came across your channel of few weeks ago and have been binge watching ever since. I come from an accounting background as well but not as extensive as you. I really admire your financial literacy for someone who’s my age. Throughout the vid you kept saying you’re not a financial advisor, but perhaps it could be something you could consider as a consulting position. Cause I sure would hire you lol
Keep up the great content :)
Regarding Rule 12: it is mind boggling that people don’t research more about taxes or at least get a good accountant especially when sometimes 40%+ goes to taxes. The rich get much much richer because they are smart with their taxes!
It's our biggest expense.
Taxes are extortion. What's _really_ mind boggling is that people are complacent with it.
@@otacon1024 People just do what they think is normal. Not many will question it and even less so, do something about it.
If by 'people' you mean those with high incomes who take a haphazard approach to managing their money, then I agree. But most people don't have enough money for an accountant, let alone a good one, in addition to their tax burden. Sure, they could research, but one has to be fairly knowledgeable to begin with in order to decode our convoluted tax system, which itself is a burden on the poor. In this case, the rich get richer because they have enough money to pay smart people to do the work for them.
My goal for the rest of this quarter is to understand what's actually going on with my income tax...its always been "out of sight, out of mind" for me but its about time I figured out taxes.
That's the spirit! Good luck
Don't let others take your money.
Excellent advice! These are good money truths that everyone should learn. I agree that money is a tool that can be used for good or evil. And money will not make you happy. Some of the richest people in history have also been the most miserable.
No.8 Good debt vs bad debt.. i've read about this in the book 'why the rich are getting richer' -Robert kiyosaki
The last bit was the best. Thanks man.
Nate, your channel is truly inspirational. I even make videos on similar topics to help people create financial security and financial freedom for themselves. Thank you
9:55 YES! Very well spoken thank you!!
I keep my expenses as low as possible, I have two jobs and 11k saved up! :)
That's awesome! :o
Love this!!
Tony Tellez that’s great man! Keep up the good work and you’ll make it big 👍
I trade Forex with an expert and I am able to earn more than what my job pays, I save more and spend cool. It's really awesome getting involved with this online trading of a thing. Wish I had the knowledge for myself.
@@maturiachije4356 how can I contact plz.
Nate... What you saying in your video is so true...
A wise person should have money in their head, but not in their heart. -Jonathan Swift
Sultan’s Financial Journey well said
I always share your videos with my girl aged 20 and 17. I’ve taught them all I know but I know they enjoy hearing this from someone else. Do you have a black eye...sorry the mum in me.... hope it wasn’t too painful. Thanks for the info.
"Once you die, you die!" Lol, loving these videos, great work Nate.
You cute ash
9 Laws of Money
1. Money is just a tool, don’t think of it as something that will solve all problems
2. The Law of Capital. There’s physical capital and human capital. Physical capital is investing into real life assets. Human capital is thinking about investing into yourself, going to university, reading books etc. Audible is a good tool.
3. There is good debt and bad debt. There are certain types of debt that you can use for leverage, such as real estate. High interest, insecure debts aren’t good debts. Student loan can be seen as a good debt, if you go for the correct degree.
4. Lifestyle inflation. Many atheletes or lottery winners go broke, because they don’t have the basic understanding of financial money management. They spend more than they earn.
5. Money follows attention. You don’t always wanna go for the money but if you focus on the attention and audience building, the money usually follows. Anything that has attention around it has money potential.
6. Understand your loans. If your getting a mortgage, look at the interest rate as well as the monthly cost.
7. 24 hour rule. Whenever your going to buy a big ticket item, sit on it for 24 hours. Then if your still excited about it, buy it. Think about the pros and cons of every purchase.
8. Think of the rule of 72. It shows you how fast it’s going to take to double your investment. If you wanna know how long it takes for you to double your money on a 10% interest rate, take 72 and divide it by 10, which is the interest rate. That’s 7.2 years.
9. Money won’t fix all. If your depressed or upset in some way, money is not going to fix all your problems, it’s more about your mindset
I only did 9 Cah theyre the ones that appyly to me most
The alchemist is a great read.
Also the inflation of lifestyle is a big one that lots of out of college / university (like me) young adults need to be careful of. Just finishing living on £1000/m student loan (£700 goes to rent) and jumping to £2200/m can great misconceptions about the value of money and what you NEED vs what you WANT.
I really do not like Yanks, and i generally do not like young people, but you sir, are a cool, clever, Yankee young person. Long may you prosper!!! Love from Australia!!
Americans don’t care about loser Australians opinion
Thank you for making these very usufull information. I will refer this to my daughter. She should watch your channel more often than the other z and millenial generation that make her willing to spend more money than use it wisely. She is16, so it’s not too late.
Money isn't bad....the LOVE of money is bad!
My deepest thanks for making these ✨
Thank you for sharing those ideas with us.
Great content as usual Nate! Was planning to make a similar video and this inspired me to a few points to the ones I had already planned. Can’t wait to see what’s next
Just read The Alchemist for the first time too, super good read!
I’ll have to add that one to my list. Finishing up “How Money Became Dangerous”. Any other recommendations of your favorite books?
@@MRZEROTOINFINITY Definitely recommend it! Simple and easy read, but packs a good punch!
Current reads I'm bouncing between are "7 Traits of Highly Effective People" by Stephen Covey and "The Simple Path to Wealth" by JL Collins. Good food for thought in each thus far. I'm gonna have to check out that book you mentioned too, sounds interesting from the blurbs I pulled up for it!
@@zackkochetta I heard good things about The Simple Path to Wealth. It's on my list. Thanks for the other suggestion 7 Traits of Highly Effective People. We all can work on being more effective!
I had my credit card stolen the other day but I didn’t bother to report it because the thief spends less than my wife.
😅😅
Great video, I’ve saved over $1K on the first month of 2020 just by following some of your advice, also where did you get your long sleeve t shirt? looks awesome!
One thing, you talked about good and bad debt at one of the points and in the “understanding your debt” you said “pay your debt as soon as possible, which is not always good strategy in cases of good debt with low interest rate
Just thought it is important to address it
Most of your advice you wouldn’t need a financial planner, it’s just common sense. Btw, I do like the background music. Great video Nate, thanks so much😊
Gold but Gold... ty Nate
I'm thankful for the last comment, if you're not happy now, money isn't going to make you happy. So true.
Good video. You and graham are good financial people to watch
Thanks am from Gambia West Africa.l learned something important from you today.
Thanks so much Nate!!
The Rule of 72 sounds very interesting. You should a dedicated video for it.
Juan Manuel Esis look it up read about it
"Rust, rot, depreciate" Classic, utterly true!!!!
I have learned new thing today : “Inflation of lifestyle”
Another great video 😃
Great content and video Nate! Keep them coming. Thanks!
Thanks!
oh the Alchemist is such a great book! stuck to it like gue throughout middle school
You would be a perfect phoenix wright (including the faces he pulls, your humour : D)
Loved these tips keep up the great work Nate!!
the buffer is such a simplistic genius way to get by trust me jsut do it guys good habbits grow from it starts to turn into more
no one:
Nate: but im not a financial advisor👍🏻
This is okay advice if you don't have anyone else in your life and it's just you. When you have kids, your mind changes and works differently, and you think of what happens to your family after you're gone as if that's how you've always thought of it.
Thank you bother I really like your wise advice
what's the music in this video Nate? I NEED TO KNOW