Life-changing lessons from The Psychology of Money

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  • Опубліковано 15 чер 2024
  • 👉🏽 My Intentional Spending Tracker (free) - nischa.me/intentionalspending...
    In this video I summarise the book that has had the biggest impact to my financial life.. Enjoy Xx
    📚The book I summarise: The Psychology of Money: amzn.to/3G8pYfE
    ⌚️Timestamps:
    00:00 - Intro
    00:19 - Pay the price
    01:54 - The magnitude of chance
    03:40 - Wealth is what you don't see
    04:58 - Use money to buy control
    05:54 - Contrasting narratives
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    DISCLAIMERS & DISCLOSURES
    This content is for education and entertainment purposes only. Nischa does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
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КОМЕНТАРІ • 294

  • @nischa
    @nischa  Рік тому +1

    👉🏽 My Intentional Spending Tracker (free) - nischa.me/intentionalspendingtracker

  • @maxmilernjdmba.9750
    @maxmilernjdmba.9750 Рік тому +153

    Best way to start your first business is just to start it. Get an idea, start promoting it, get your first client, make your first mistake with your first client, get your feeling hurt, get over stress and anxiety and keep working.

    • @sammymeien8224
      @sammymeien8224 Рік тому +1

      thanks for sharing

    • @Iyonndadon
      @Iyonndadon Рік тому +2

      Amen , thank you 😭

    • @MsFashionqueen1
      @MsFashionqueen1 Рік тому

      Literally

    • @williammorgan6217
      @williammorgan6217 Рік тому +5

      I don't agree. You can invest energy into something that will give poor returns so think carefully before you commit. Take your time.

    • @iveyhealth2266
      @iveyhealth2266 7 місяців тому +3

      I definitely agree. Fail your way to success.
      Try, try again. 💯

  • @mirror_6336
    @mirror_6336 7 місяців тому +12

    Great summary of the book. For me, the most important thing is that being wealthy means doing what I want at any time without harming anyone.

  • @erandiganepola
    @erandiganepola Рік тому +70

    Hi Nischa, I'm in my last twenties and luckily I started focusing on financial education at this stage. I'm also having a plan to achieve my financial independence, most importantly to have the choice to do the things I value the most. I really appreciate the knowledge you share through your videos. These days I'm reading the "4 Hour Work Week" book because of your recommendation and it is teaching me important lessons. Just want you to know that you give so much to society through this channel. Keep up the good work! Waiting every Sunday to see a new video from you.
    Much love, Erandi from Sri Lanka.

    • @nischa
      @nischa  Рік тому +13

      This has honestly made my day. Thank you Erandi - sending love to Sri Lanka!

  • @davegenders2490
    @davegenders2490 Рік тому +40

    Just like to say that I love watching your videos, Nischa. This has become part of my Sunday routine every week. Very informative and in a language we can all understand. Long may they continue.

    • @nischa
      @nischa  Рік тому +2

      Thank you, Dave - really glad to read this

  • @shankers1a2b
    @shankers1a2b Рік тому +8

    Nischa picks up key points from the book and provides commentary very clear and crisp. She is a master and very relaxed way of saying make it easy to grasp. You are the Angelina Jolie of youtube. Keep going strong!

  • @gatekeeperboxing5898
    @gatekeeperboxing5898 Рік тому +27

    The price I am most conscious of paying is Time. When buying a service or product, I look at the cost, the time it will save me based on my current routine, and also the time it will take to actually use the product or service. The other thing I consider is Stress, as the reduction of stress in my life has become more important in recent times. I have now reduced the time I spend around people who cause alot of stress, and have reduced the time I spend on activies which can cause stress.

  • @goodgossip7095
    @goodgossip7095 Рік тому +2

    Your channel really changed my life.. I was giving into all the marketing campaigns here in America without really thinking thru, but not anymore... I am now addicted to this channel. Keep up the great work Nischa.

  • @ritaghosh7516
    @ritaghosh7516 Рік тому +1

    You are changing so many people's lives with your videos..... don't stop!!!

  • @yaavke
    @yaavke Рік тому +9

    As a newbie in the Investing and finance world, I'm so happy i've found a content creator who shares such great information, and is a woman! (I see mostly men creating content in the finance area and while their content is great, I'm really glad I can also look up to successful women in the same area of expertise 🙌). My point is, I'm really glad I found your channel Nischa, keep creating such great videos 🤍🌟

    • @nischa
      @nischa  Рік тому +2

      Thank you for letting me be a part of your journey!

  • @christopherhanson9351
    @christopherhanson9351 Рік тому +13

    Great lessons, thanks for sharing! #3 reminds me of one lesson which hit home in the book "The Millionaire Next Door." Specifically it's the lesson of people who know how to keep the money they have amassed vs. those who only know how to lose it. Plenty of millionaires wear bland clothes, drive used cars and shop at regular grocery stores. This has helped me not waste money on things that won't bring me returns. I appreciate you bringing up a similar point, it reinvigorated my desire to use money wisely!

  • @courtneyfalconer9526
    @courtneyfalconer9526 Рік тому +8

    #4 money buys control 🙌🏼 That really resonates with me too and is what I’ve been working on since the start of this year. I’m making sacrifices and making my money strategically work for me in order to create the life I want moving forward.

  • @rosaliadasilva2124
    @rosaliadasilva2124 Рік тому +16

    Nischa, please do more videos like this. 5 insights from books about financial and self improvement. Thank you. I am from Timor-Leste ❤

  • @irinen5217
    @irinen5217 Рік тому

    Love your videos , short and concise. Straight to point , 🙏

  • @lancebernal9982
    @lancebernal9982 Рік тому +5

    I read that book earlier this year. However, I did not get enough out of it. I perhaps read it too quickly. Your video has inspired me to go back and re-read it. Thanks Nischa!

  • @janalavtizar4426
    @janalavtizar4426 Рік тому +3

    Brilliantly encapsulated, thank you Nischa. Wealth is what you *don't* see and Contrasting narratives are the most thought-provoking for me.

    • @nischa
      @nischa  Рік тому

      Thank you, glad you liked it :)

  • @creatingbalancefinance
    @creatingbalancefinance Рік тому +6

    This is one of my favourite finance books. So many great lessons. Thanks for sharing!

  • @Vishal2001Tech
    @Vishal2001Tech Рік тому +127

    Nischa never disappoints us, she's an incredible Content Creator and always creates masterpieces. Her content is amazing.

  • @spencedaddy1919
    @spencedaddy1919 Рік тому +10

    Great analysis as always! And you picked an incredible book...I've been giving this out to friends over and over. And it applies to so much more beyond just money and investing.

    • @nischa
      @nischa  Рік тому +1

      For sure, it applies to so many other areas!

  • @therichmindset11
    @therichmindset11 Рік тому +1

    Great summary Nischa ! Your contents are always amazing!

  • @natashapieper3196
    @natashapieper3196 Рік тому +1

    Thanks so much for making these videos, Nischa. I am learning so much from you and am working to save money on shopping and increasing my revenue streams. Keep up the excellent videos!

  • @pratimavarma
    @pratimavarma Рік тому +2

    This is one of the few actually helpful self-improvement book. I have read and re-read it multiple times

  • @annawong1305
    @annawong1305 Рік тому +12

    #4 resonates with me. My current job is demanding in terms of time and energy, so I'm going to take a step down and do a simple 9 to 5 so I have time to spend on hobbies and with things that matter. I'll lose some income but I believe it will be worth it.

    • @Havana-man
      @Havana-man 10 місяців тому +1

      I think it's about balance; I agree. Enjoy your downtime.

  • @i.o.3563
    @i.o.3563 Рік тому

    Nischa, conciseness combined with your amazing accent makes it a joy to watch. Thanks.

  • @AdrianKSLee
    @AdrianKSLee 8 місяців тому

    Thank you for producing this educational video and introduction to this book. Keep it up. Good work Nischa!

  • @TimewithLydiaThePharmacist
    @TimewithLydiaThePharmacist Рік тому +1

    I always learn something new anytime I watch your video. thanks a lot for bringing up these great points. Awesome!

  • @paulevans4056
    @paulevans4056 Рік тому +2

    Great video Nischa. I 100% agree with what you have said. In a small way I have focused on my wealth goals in lieu of prioritising those things that really matters, such as my marriage.

  • @tkthebear984
    @tkthebear984 Рік тому +6

    Hi Nischa, I do love listening to your videos as you’ve got a lot of enthusiasm and I’ve learnt a lot from you, which I have put into practice. Looking forward to your next session 😀👍

  • @MilindShah
    @MilindShah Місяць тому

    Excellent, helpful, insightful, valuable. Thanks for your work.

  • @JoshHitti
    @JoshHitti Рік тому +41

    So good. There are invaluable lessons in this book and it’s made to be digestible by anyone, even those with little financial acumen.
    One of my favorite quotes from the book is a poem:
    A wise old owl lived in an oak,
    The more he saw the less he spoke,
    The less he spoke, the more he heard,
    Why aren’t we all like that wise old bird?

    • @nischa
      @nischa  Рік тому +4

      i love that!

    • @everythingresearchgabriel2289
      @everythingresearchgabriel2289 Рік тому

      @@nischa ​@Josh Hitti Could you give a practical example were that^ saying is applied?
      Don't understand it, but want to!

  • @paggi93
    @paggi93 Рік тому +2

    Well summarised! Thank you for these important points on the book!

  • @dieraven
    @dieraven 3 місяці тому

    I have heard of this book from a top 50 finance books list, and I already had it on my 2024 books list. Thank you for the review and tips :)

  • @Havana-man
    @Havana-man 10 місяців тому +2

    I remember when my dad died, I cleared the mortgage. It brought back something he'd said years before. We'd discussed it and he'd said, yes not having to spend the money was great but the fact that nobody could take away the property was infinitely better.

  • @mejaaldrich2493
    @mejaaldrich2493 10 місяців тому

    Thank you for your content. Excellent. In recent years I have gone through many awakenings. Most of these awakening could not be achieved without read books.

  • @kevpo08
    @kevpo08 Рік тому

    I love the way you teach. Thanks so much for the content.

  • @soybeans8139
    @soybeans8139 11 місяців тому

    Just finished reading this book last week. Really life changing and valuable information.

  • @paganmoonx
    @paganmoonx Рік тому

    I looovveee your videos!! you provide such amazing advice!!! Congrats on your channel!!! ❤️💕

  • @gmeadowcroft84
    @gmeadowcroft84 Рік тому +2

    I thought I’d comment and just say thank you, I have been watching over your back log of videos for the last 2 weeks and it’s really opened my eyes to my finances. I have always been a hard worker but never really seemed to see benefits of that as time has gone on

    • @Havana-man
      @Havana-man 10 місяців тому

      The good thing about Nischa's videos is that they're simple and straightforward but never seemingly patronising. Her balance is great.

  • @princevaidyan330
    @princevaidyan330 Рік тому +1

    You are an absolute gem. Straight to the point in short time.

  • @shantirajkumar9366
    @shantirajkumar9366 Рік тому

    Learned a lot today looking forward to reading this book 📚

  • @willmallory9085
    @willmallory9085 Рік тому +1

    I just purchased this as it was recommended to me. Thanks for sharing.

  • @frankiemcguinness4713
    @frankiemcguinness4713 9 місяців тому

    Thank you for recommending this book. I read it and couldn't stop reading it. Some chapters were hard to digest but overall, it changed my mind about how I see investment and how to prepare for it. Along with that the story comparison is great to see

  • @stephmacherr552
    @stephmacherr552 Рік тому

    Thanks for the review!! I been wanting this but didn’t know it.

  • @mladenbrocic4936
    @mladenbrocic4936 Рік тому

    Thank's a bunch for all your recommendations 🌅

  • @scottwalford6619
    @scottwalford6619 Рік тому

    One of the best books I’ve read on the subject in recent years. Recommended reading

  • @warrenmillard4179
    @warrenmillard4179 Рік тому +2

    The best description of wealth I ever heard was 'choices'. To get to a point, financially where you decide what you choose to do with your time. The only actual commodity we have is time and money should be seen as a tool to allow us to structure our time in the best possible way.

  • @diasporaman5419
    @diasporaman5419 Рік тому

    Love it !!!!! Thank you Nisha!!!!!

  • @kumarsabaratnam4787
    @kumarsabaratnam4787 8 місяців тому

    Thanks for summarising the contents & values of the book. Its good as hv read the book. Its true & good advice to anybody.

  • @sonnysting2663
    @sonnysting2663 Рік тому +1

    I feel like I'm seeing my soul mate when it comes to financial management! 😁 And maybe even more. 😍 Good work! Congratulations!

  • @TheSilentWealth
    @TheSilentWealth Рік тому

    Something I hold on to dearly, the lessons are very contrary to what a lot of financial gurus preach on UA-cam. It aligns very well to my own values - save more, need less, and teach yourself to be able to be content with enough 🙏 Great summary!

    • @nischa
      @nischa  Рік тому +1

      Thank you :)

  • @millionairemindset1220
    @millionairemindset1220 Рік тому +1

    Good job, Nischa. Keep it up.
    You are one of my competition and you fuel me.
    Thanks.

  • @rickysteamboatcv
    @rickysteamboatcv Рік тому

    This is indeed a great book, really punchy and factual great shout Nischa thank you!

  • @martinpolakSVK
    @martinpolakSVK Рік тому

    Loved the book,worth reading,still nice work to summarize

  • @annaberger9622
    @annaberger9622 Рік тому

    Always Food for Thought. Thank you :)

  • @LindyL
    @LindyL Рік тому

    Thank you for sharing! This all makes so much sense

  • @lavanyar4865
    @lavanyar4865 10 місяців тому

    Hii Nischa,..Amazed by your way of explaining each content and your editing is perfect :)

  • @daniellev_
    @daniellev_ Рік тому

    Thank you so much for sharing !

  • @akashak666
    @akashak666 Рік тому

    Been watching your content for some time, love it.great job ❤️from india

  • @purvildoshi4608
    @purvildoshi4608 Рік тому

    Great book- thanks for the recommendation!!

  • @ericbutler1305
    @ericbutler1305 Рік тому

    Great video, I was already planning to read, but it just moved up my list!

  • @yummy_n0udles
    @yummy_n0udles Рік тому

    Psychology of money is an absolutely amazing book! it definitely gave me a different outlook on money.

  • @aleksandrapetrovska7765
    @aleksandrapetrovska7765 3 місяці тому

    Fantastic content Nischa… I love it. Have you ever thought about giving a TED talk?
    Keep posting, freetings from a Macedonian based in Copenhagen❤

  • @apilotsperspective
    @apilotsperspective Рік тому

    Great information thanks ❤

  • @roselinededua
    @roselinededua Рік тому +1

    I’m currently listening to this book on audible. I love the perspective from the book. Excited to hear your takeaways from the book

    • @Havana-man
      @Havana-man 10 місяців тому

      That's a great point; I hadn't considered it. Nischa, can you do one?

  • @filmawayvlad
    @filmawayvlad Рік тому

    Indeed! Thank you!!

  • @Mayah862
    @Mayah862 Рік тому +5

    Followed you from the beginning this is such a good digest of that book! Please start a finance podcast, it’d be so epic

    • @nischa
      @nischa  Рік тому +1

      Never say never :)

  • @Imselvakumar
    @Imselvakumar Рік тому

    I just studied this book last few weeks later, it's really amazing and help me, after studied i have been changed.

  • @shirleyebuka
    @shirleyebuka Рік тому

    I can relate with the last point. Thank you.

  • @juiced009
    @juiced009 Рік тому

    What a beautiful refreshment you are in this financial nische....Love the videos Thank you

  • @ranaplans
    @ranaplans Рік тому

    I just started reading this book yesterday🙌

  • @thabangkanti
    @thabangkanti Рік тому

    Thanks for sharing 🙏Am learning💯📝

  • @TharWaankal
    @TharWaankal Рік тому

    Nice Nischa. Keep the good work up 👍 Watched all of your videos. All of the is really helpful and appreciated.

  • @JodyDube
    @JodyDube 9 місяців тому

    Real wisdom here, Nischa!

  • @Finding-Fish
    @Finding-Fish Рік тому

    Fantastic video, Well said and thanks for sharing!!!!!

    • @nischa
      @nischa  Рік тому

      Thank you - glad you enjoyed it!

  • @waterbourne9282
    @waterbourne9282 Рік тому +1

    I haven't read that one but from your synopsis I would recommend reading The Millionaire Next Door and The Millionaire Mind which I found comprehensive and compelling analysis of the wealthy and their habits and mindsets.

    • @financieramente.educados
      @financieramente.educados 4 місяці тому +2

      About Millionaire, I recommend The Millionaire Fastlane, excellent book on entrepeneurship mind!

  • @anandsagar0126
    @anandsagar0126 4 місяці тому

    Need a coach like you!😊

  • @MetalMilitia072583
    @MetalMilitia072583 Рік тому +1

    This book is so good! Numbers are easy for me, but behavior changes are so much tougher.

  • @prathamesh1242
    @prathamesh1242 Рік тому

    This book is an eye opener for me......and a few important lessons i learnt are:
    1) No one is crazy, never judge any one from their financial condition
    2) Save more so that you can create more wealth through the magic of compounding

  • @richcleme2798
    @richcleme2798 Рік тому

    We need this as a podcast please!

  • @haren_17
    @haren_17 Рік тому +1

    Hey Dear Mam,
    You are doing a great job. Keep inspiring by your realistic insights...
    A gratitude from India 😊

  • @learneconomics2021
    @learneconomics2021 Рік тому +2

    I would also recommend, Irrational Exuberance from Robert Shiller. Worth a read to learn more about economic and financial cycles and behaviour

  • @redjohn20001
    @redjohn20001 9 місяців тому

    What a great set of rules for a young person setting out on a path of life wealth. I learned these rules the hard way finaly having the correct mind-set in my mid 50s. Another great video of the many you have produced, but where did you get all this knowledge from so early in your life?

  • @venkatnjn6354
    @venkatnjn6354 Рік тому

    Hi Nischa your video contents really worth watching. Keep up the good work.

  • @practicesetsbykaushalsingh9915

    I had done read that book just 2week before.
    Finished read out at 7 APRIL.
    Started from 3 APRIL - End on 7 APRIL

  • @buysellinmd
    @buysellinmd Рік тому

    I love this book!

  • @TheSchoolOfInspiration
    @TheSchoolOfInspiration Рік тому +3

    Thanks @Nischa. Great content as always. I spent the first 40 years of my life, overspending on a flashy lifestyle, material possessions, relationships, mansions, holidays, cars, blah, blah…all in a vain effort to gain validation and approval. It was an exhausting hamster wheel that led to very little fulfilment or contentment. COVID and the lockdown brought matters to a head and I had to face some home truths. Now, I have reverted to a far simpler lifestyle and try to live through a sense of appreciation and gratitude daily. It’s not a magic wand and will take daily practice but…let’s see. I also gave away 80% of my wardrobe to charity shops, which felt crap at the time but life is much simpler now. Thank you for your great videos and useful content. You have a similar presenting style to Dr. Ali Abdaal. 😊

    • @nischa
      @nischa  Рік тому +2

      I love this!

  • @KT-zx9jr
    @KT-zx9jr Рік тому

    Good work Nischa.

  • @moneytalksbyhjgwhite
    @moneytalksbyhjgwhite Рік тому

    Ahhh this is my favour book, literally just finished it! So jealous you made a vid on it first 😅 look forward to watching this vid a bit later

    • @nischa
      @nischa  Рік тому

      waiting for your video! Enjoy the travelling :)

  • @Tkanyike
    @Tkanyike Рік тому

    Rich is silent- as in its subtle, poor is loud. i made that up but i think it fits lol. Nice video...definitely sharing this one with my daughter. i can hear now already...dad i know i know lol

  • @Exxon300
    @Exxon300 Рік тому

    Yes, preach sister

  • @SGH-rt6ci
    @SGH-rt6ci Рік тому

    You can teach simply anything ❤with your charm and beauty

  • @Lambert7785
    @Lambert7785 Рік тому

    yup, good stuff, and holding out for what you really want is a kind of battle, and requires perseverance - and share with people who are struggling when you have more than you need :)

  • @cadmuscassey
    @cadmuscassey Рік тому

    I just got this book and I have not read it yet.. So thanks for sharing this I will definitely come back for more questions if I have any. I love what you said about bill gates so true, focus on the availability of opportunities..

  • @Rakyr
    @Rakyr Рік тому +1

    I am somewhat an introvert and I value my freedom more than anything and as sad as it is to admit, an abundance of money gives you that freedom. So even though there is a threshold of money for happiness, after the covid restrictions and the pandemic I think it is more important than ever to have money/systems in place for you to own your own life regardless of happiness.

  • @bgr007
    @bgr007 Рік тому

    its a great and simple read.

  • @melissagorgeous16
    @melissagorgeous16 Рік тому

    Very well put Nischa.

    • @nischa
      @nischa  Рік тому

      thank you Melissa!

  • @Chukwuezugo
    @Chukwuezugo Рік тому

    Really helpful ❤

  • @KaseyPiper
    @KaseyPiper Рік тому

    Great book!
    What programs are you using to edit your videos by chance?

  • @pug251
    @pug251 9 місяців тому

    great video - Im in my early 50s and due to a divorce and poor health I am only start investing now so this really helps thank you

  • @williamkauffman5745
    @williamkauffman5745 3 місяці тому

    excellent🙏