Why you don't have enough money
ฝัง
- เผยแพร่เมื่อ 28 ก.ย. 2024
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Second channel: / @joeyschweitzer
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Description babble (pleading to the algorithm gods): This video is about self improvement, self development, self help, money, how to make money, and that's pretty much it. How to get out of debt. How to pay off student loans. I'm Joey Schweitzer, this is Better Ideas, and I don't know what else to say...
🎥 The Gear I Use: kit.co/betteri...
Just want to clarify: 10% saved is a MINIMUM. I'd highly recommend saving 15 or 20%+ depending on your situation. Always live well below your means.
Great content! I would suggest going into a little more detail/specific applications in the next video topics.
I’ve found that it reduces the barrier for our lazy brains to start acting, since we don’t have to start from scratch in trying to apply a mindset to our everyday life.
Also, I fucking love you and your content, man
10% is rly sweet. More like 50% or more. That should be the goal! 💪
Just curious, you ever read the Wealthy Barber?
Hey Better ideas i have a video question How to stay moviate disclipe doing Multi tasks becuase I keep Multi tasks my two goals its Getting better in drawing and Improving my Speech but I have online classes but I do 4 Multi tasks 1) getting better in drawing 2) study3) doing online classes4) speech How I mange this?sometimes im lazy and tired
Just a little comment to be honest and boost the alogorythm ;) You are one of my biggest inspirations to then make my own YT videos. I love the touch of humor that's always present in your Vid, the sound of your voice mixed with the mics you use and the shots you choose and shoot are great.
"Don't fall into consumer traps, also, buy this book."
I was just about to say the same lol
Lol
How can reading that book make you worse off
😂😂😂😂
Hahaha I test you guys right away
Sorry for tempting you with that iPad! ;)
Hahaha and he sees the video! Hey Max! I resisted the temptation... for now.
😂😂
😂
When I saw that I was oh boy 🤣🤣
Hahahaha soo funny
You have some hilarious, serious, strange clips of yourself. I love how you edit those in, whereas other TH-camrs would use stock footage of strangers, you go above and beyond my guy
GrimmSmilee agreed 👍
I’m so glad I found him just randomly in my recommendations.
that's what i like from him
I remember discovering this channel on January 1st 2020... I saw lots of your videos and also start reading some books by Mark Manson, I started to feel hope, I started to feel I was going to be able to correct my wrongs. I also remember that day I joined mom to walk his boyfriends' dogs around the nearby theme park. Little did I know I was going to be with the most active of those dogs for almost the entire year... Then, I guess I need no explanation for what happened. The few things left in my life crumbled apart. My family disbanded, I was rejected in almost every job I applied to. My mom got cancer and I was no longer able to make the only thing that gave my life meaning: Music. How could I've been able to do music in the midst of a pandemic? Where all that was needed was money to survive and being able to keep myself locked up?
9 months have passed, and I can't remember how peaceful was to walk the dogs that day, or even the person I was back then. However, neither do I know who am I now.
I knew all these things already. And you know what, @Better Ideas? THANK YOU FOR REMINDING THEM! Seriously. From time to time we need to refresh some knowledge. Keep going!!!! I can learn something new from each of your clips
I already know this one is gonna hit home...hard.
The Dave Ramsey snowball effect worked for me. I’m credit card debt free, now paying myself (saving money) and will start tackling student loans next year.
I like personal finance videos; this is a good one.
How often are you investing- putting capital towards assets that produce?
@EDUCO I'm not even sure that's something you should be worried about if you still have massive amounts of debt.
1. Track your spending, observe your habits through that.
2. Look at the bad behaviors and identify the beliefs underlying them.
3. Work on replacing those beliefs/habits with healthier ones that don't waste your money.
4. Make a budget of how much you want to save. Determine what can bring you true joy and what doesn't, and be willing to negotiate with yourself on getting rid of that which doesn't bring joy.
4. Do mindfulness practices and engage in activities that a genuinely good for you. Desingage from those that aren't. Mindfulness will help with your awareness and impulses. Activities will help you fill that void in a healthy way.
5. Don't increase your spending unless you're also increasing your income.
6. Don't ever use debt unless it's a genuinely good investment such as in yourself.
I moved to the States about 4 years ago at 19, high school education, broke, not so great English at the time, average IQ and EQ, worked a call center job which did 40k but with unlimited OT it turned into 80k for at least two of those years. Stuck by these rules, took care of myself and family and was able to save 115k far.
Now I have the puzzle of actually working doing something I enjoy and pays well. I wouldn't have the opportunity to work on this next problem had I not worked on my safety net first and sacrificed purchasing unnecessary things.
Dilly VFX
Hey I make films, i made a really inspiring one called believe in yourself today. could you check it out for me please and maybe sub too?? have a good day though :)
@@DillyVFXOG Sure, have a good day too :)
Bryan. Good to hear.
never stoping learning & living like a student = key to a happy and wealthy life
well said. do you follow this advice?
@@priyamvadapriyam9415 absolutely 👌
Within reason, I'd say. If this means eating junk then ultimately it's going to catch up with your health and poor health will quickly take away your wealth and happiness.
Never stop learning like a student and living like a homeless.
@@FrocketGaming you can actually eat very healthy on a low budget but I see your point
After college I live like the broke college student that I once was. I kept this up and I always pay myself first and use credit cards wisely. Lifestyle inflation can really mess up your financial situation badly.
My mom's family used to be fairly poor. My grandfather always used to say 'You save when you have money. When you don't have money, you have nothing to save from.'
I try to stick with that
my grandfather told me exact same thing :)
Actually spit out my drink at the part where you say “Don’t recommend this kind of shit to me anymore” I can relate and I wish those buttons said that
Honestly, your channel is changing my life. I must tell you, listening to you is like listening to my inner voice, this time, clearly n precisely. Thank you bro.
The transition into audible ad was brilliant.
hmm.. I went all day without thinking about audible..
Are you open to financial opportunities ?
My humblest of thoughts:
. "Time is more valuable than money, but time won't buy you food & water." - Me
. Save/Pay Yourself 15% - 20% of any money you make.
. Get 2 + credit cards and purchase & pay off necessitates to get a 700+ score
. If you need a car, buy used yet "newer", safe & reliable.
. Live with family for as long as you can or find cheap rent or an affordable house.
. If possible, live as close to your job to cut commute time.
. Keep expenses low, alway raise your income.
. Side hustles and or businesses will pay dividends spiritually and possibly financially in the long run!!
Honestly. Avoiding buying stuff to inflate lifestyle is very important. But my biggest aha moment was when I started to buy things that actually APPRECIATE in value. Realistically, most tangible stuff we buy immediately starts declining in value... eventually becoming a fraction of what we paid. This includes most of the products we finance: cars... phones... couches... TVs... atvs... wedding rings. It's literally voluntarily throwing your money out the window of a moving car.
On the flipside if you buy reliable assets: stocks... property... performing businesses... real estate and so forth, your money will instead accumulate, snowball, and exponentially grow with time. Dont let anyone tell you a fancy watch is a "investing in yourself." Its all lies and marketing designed to profit from your insecurities. Buy wealth-building assets over and over and stop buying things that depreciate. Got it?!
Got the audio book free from the library. The guy narrating has SUCH a soothing voice that I was finding it hard to concentrate on what he was saying and found myself lulled to calmness. He sounds like a comforting grandfather, which makes me feel like I'm safe and nothing is wrong in the world. Not the right vibe for the content. I might have to read the book instead of listen to the audio book.
Hedonic treadmill section really hit home thank you
I don't buy lattes every day or ipads every year, I'm just poor...
@stevenstrumpf7 well, look what he uses as example for income, 3000, I do not think that is the reality for most people, there is also rent and taxes to pay, but not just that, we are supposed to deny ourselves whatever make life tolerable, no even a coffe for waking up, I guess we should cut lunch in half also, this more of how to spend less when already being well off, poor people are not thinking on traveling around the to eat "new food".
@@elbinalejandrofelizgonzale1742 Yeah it is a little nuanced. What he gave as an example, $3000 a month and a $300 ipad is just an example. For someone else that might be a $300 a month and a $30 video game. The point is that we often spend money on things that we don't really need and didn't want until we saw the marketing.
Obviously we can only cut down so much while still maintaining a lifestyle, but the idea is to be making progress towards financial security, have an emergency fund so that you don't play into debt where you have to pay a rich person a fee to borrow their money.
stevenstrumpf7 Income inequality is a weak excuse. It might be tight and difficult for a few years but people with discipline and a set of goals progressively build themselves leverage until they conquer their situation.
What is actually a serious issue is people being manipulated with messaging about income inequality and other victim mentality issues. The more they message this crap, the more engrained it becomes and it forms the identity of millions of people. All of this is done by design and exacerbates the cycle with people spending what little they could save on soothing the burn of life so to speak.
@@FerventReminder the cycle of povery is very real, do not try to fool yourself and others into thinking that you can fix everything with just "trying harder", I wonder if you would say so to a pair of parents who got a kid with cancer when they barely got to pay the bills, "identiy of millions", "victim mentality", why do you not just say that you believe that people are poor because they want to?, that would have been easier to say.
Poverty is a real issue, you can chose to ignore and disregard the struggle of others, but that does not change reality. People are robbed, they get into accidents and lose stuff (houses, cars, jobs oportunities), children that lose their parents, abandon, growing up uneducated, mental and phisical illness that are expensive to take care of, natural disasters, and so on, those are just a few examples, in a capitalist society the economy starts with someone having a capital and investing it in something, the question is, what happens to those who are born with nothing to begin with?, how do you grow when you have no knowledge nor the time to get to a better style of life?, you know that poor people take "low paying/skill types of jobs cuz they do not have the education to take on a better more specialized type, right? and education costs money, saving those 300 bucks is not gonna save you from inflation, and is not definitly something that everyone can save at all, but here you are saying that people should not even take a coffe in the morning until they are well off or something, damn.
Elbin Alejandro Feliz Gonzalez I understand you are emotionally attached to this topic and I won’t try and dismiss you because that is a very real part of life.
I can’t go over everything you said but I don’t agree. There are countless stories of people moving to first world countries with nothing and building a life for themselves.
There is always a way. If you’re concerned about inflation you can buy silver/gold. When you say education costs money, I assume you mean university/college. Plenty of people have become successful without university and I would argue it might not even be the best option.
I never said it was easy and in fact I said it would be hard but if you look at things honestly, people waste so much.
All of this is assuming people live in the first world: USA, Australia, Canada etc-of course it’s much harder if you live in a slum.
I’m going to finish by saying something that a lot of people would dislike. Many people are living with curses on their lives and in the family tree. These can originate from many different causes but for example things like practicing yoga, alcoholism, gambling, sexual debauchery etc can all cause curses to come upon you. This is the main reason for disease and accidents and the like. I know you are going to be upset reading this but the best thing you can do would be to say ‘what if they are right?’ and seek God about it.
PS: I’m not saying coffee is necessarily bad but you don’t need it and a lot of people are dependent on it which is another issue.
Pay yourself first is great mantra but sometimes it can be hard to follow with low income i think
A good way to handle those consumer traps that you could not avoid is having a system in place. I have an excel sheet called 'shit I would like to have'. Any time I get the urge to buy something I put it on the list. The list comes with a few rules. I only buy things of the list when I either have needed them three times within a few months and did not have them or as a gift or splurge to reward myself very occasionally. It gives me the same satisfaction as buying because I will buy them for my birthday next month or when I had time to find the best or something but it never happens because I forget about the stuff completely. I rarely buy things on impulse anymore.
“Free money day” alone deserves a like. Bro you’re my favourite TH-camr.
A wise man used to always tell me when I was just a teen to pay myself first the faster you understand what that means the better off you'll be ..financially speaking.
Pay YOURSELF first .. Facts
The minute I saw “includes paid promotion” I knew this was a consumer trap
Right!!
I half expected the first rule to be "stop saying the word tummy".
Hedanic treadmill my but. I will never go back that any previous set point.
"I'm broke"... funniest joke I heard this week xD
Thank you so much for your videos an inspiration !
"and when you spend money, you NO LONGER HAVE MONEY" 😥
Thank you for explaining compound interest.
Buying things has become a simple formula:
1) Is this essential for my life or my families life?
2) Is this purchase an investment that has a clear line to profit generation?
3) Is this something that I've thought about purchasing for a long time, and have the resources to afford it?
Dilly VFX
Hey I make films, i made a really inspiring one called believe in yourself today. could you check it out for me please and maybe sub too?? have a good day though :)
If your outflow exceeds your income your upkeep becomes your downfall
There are times where I will be watching how to detail your car and TH-cam will recommend me Old Lady swimming in a lake or some bullshit like that but there are other times where TH-cam will recommend a quality channel such as yours. Great content, and it feels good when you watch a video that relates to your lifestyle I personally save 10% of my income other 5% I spend it on my parents to pay their health insurance or money to buy what they want and the rest I spend it on my self no debt so it feels good being the son that everyone looks up to for staying single and having money to help others. By the way Dave Ramsey was the reason why I turned things around before that I was married and after I started watching him I realized my ex wife was the reason I was always broke on a 6 figure income hahah so now No wife Happy life fuck yea.
In Germany we say something along the lines of: „having money doesnt come from spending money“
I definitely liked the video. And I.also like that you dont put out a video every day. I start to feel stressed for those You Tuber content providers who feel they have to pump out videos nonstop.
"you're letting out your hard earned cash, like it's-" *cuts away to ad for Cache Creek, no joke* 😂 point taken
I really like your simple and smart dark humour ~ jim and rand, those bastards
very relatable content, you said what had to be said for me to tick. Thx man
ironic how you put an ad at the end of the video
Hmmmm..... I promise to pay myself first. Thank you for this useful information.
0:57 This guy's looking 3 feet tall
AHAHAHA my word how did I not notice that
@@betterideas :D
First thing I will do: Get rid of the Jim and Rand lol
Seen a lot of comments about how “bad the poor are with their spending habits”. That’s simply not true and a complete nonsense when given context.
If you look at the Bureau of labor, statistics show that the “poor” spend less in entertainment and clothing than rich and middle class people. And it’s based of a percentage of their annual income.
The issue is, the economy obviously. Jobs being outsourced, wages being stagnant and an extremely large and competitive work force. This isn’t the 50s, where a single person could work and support a family.
The fact that he is already making money out of talking about why we are broke is so mindblowing to some extent 😂
Edit : I Liked your video keep up ❤
Dilly VFX
Hey I make films, i made a really inspiring one called believe in yourself today. could you check it out for me please and maybe sub too?? have a good day though :)
😂😂😂 he found a niche and it’s working good for him so far 🙌🏾 .
The fact that you’ve embraced your bald head more than most men twice your age speaks volumes 👏🏾🧑🏻🦲
Why did I think this was an ad when I watched the first 10 seconds of this video ?
What about the invest thing?
The dog chasing clip is so random lmao
Live below your means and invest for the long term and you will be wealthy.
Sometimes many people spend money to release anxiety and recover control. If we focus on feel in control, can we be able to save more?
I've been at the same job 42 years (Programming / IT) and saving since since 1978! I'm fine. Thanks for the advice though.... solid!
The cutting corners thing in the car made me laugh out loud 😂
Those ramen and egg are like my go to breakfeast
Plan spendings around what you need, not what you can afford. We actually don't need that much stuff and saving up will be the first step in getting out of the hamster wheel. Thanks for sharing!
Money is important... at the same time it's not!
Richest Man in Babylon is such a great book! I would highly recommend it to anybody who wants to get their money in order.
“Good strong BOYUH”
"He who knows enough is enough will always have enough" Lao Tzu
For the record, really loved this, and would love more detail as well in future videos.
Great video; really enjoyed it! Some excellent points made.
Next Video suggestion: How do i stop complaining/How do i stop keeping up with the Joneses.
Omg your video is so amazing I already know all this things but what I really learned from was from your editing it’s amazing but simple at the same time and I know it takes a lot of effort
Great as always Joey, thank you, notes taken, video saved 👍
Btw you drank a LOT in the B rolls, just sayin' lol
We need more
Dude you're growing so fast!
A combination of one or more of the following:
You do not earn enough.
You spend too much.
You do not save
......but Jim and Rand seem like such fine fellows, ya know?
Great info! When I would whine about wearing bobo shoes to school, instead of Nike's, my Mom would always tell me, "Don't give other people your money".
‘’You can't afford something unless you can buy it twice.’’ -Jay-Z
Perfect timing, man. I'm exactly this person you're talking about. I'm 42 - and almost feel like financial success is lost to me at this stage, but I will make an attempt to implement your advice. Thanks for sharing!
One moment he's talking about marketing traps and the next one he's trying to sell you an audible subscription.
3:35 - a New Zealand $20 note?
Definitely recommend that DisneyPlus though
tfw I don't spend any money and still poor. It's an income problem, not a spending problem.
I Hoppe All Of You Get Rich ASAP
peace.
It’s really easy not to spend money just act like you don’t have it.
but how do i afford my monthly bills save 10% and pay off debt when bills is all pay and then im left with like $40 for 2 weeks?
If you’re wondering “how do I teach these principles to my kids?” You should check out the Guardian Savings app. It tries to build in smart habits so your children won’t have to learn this stuff when they’re adults. Like languages and sports, personal finance is best learned when you’re young!
I've always had a saver's personality. Even when I used to play games like Ark: Survival Evolved, I would save all the materials and only get the bare minimum equipment I would need to get more resources effectively. I don't have trouble saving money because I like saving money more than I like buying things.
You're so understandable that I am getting the tips and improving my english with you! Thank you form Brazil!
I love how hes like don't fall for these bad people telling you to buy stuff but oh by the way you should buy this Amazon audible book lmao, im not hating though, he's an awesome youtuber
Fr
The hedonic treadmill is reall and my default is happy af so it dossnt really matter how much money i have I'm happy af. Which actually motivates me tomake more money 🤷♂️ pretty sweet cycle
I always get excited when I see canadian money on TH-cam 😂
I say you should save 50%-80% and don't buy shit you don't need and live below what you make.
You make 50k live like you only have 30k yearly and you don't have to worry about not having money if you just don't spend it.
Get Debt a free life. Live below your means, not above your means.
yeah, I really do feel good about not spending my money! hmm but that personal finance book would help me save even more money.. hmm
Great video, Great advice!
I'm game. It's only been 24 hours since getting paid and I'm skint. 30-Days to make sure there's £7 saved up in the bank or I Lose. Let's do this! Also seems like a great quality service.
Mie Goreng, at least you got your ramen right!
I made myself a spreadsheet which I check like once a week - there I have to full control about my moneys - I can see how much money I have left to save this and this amount on money - it really saved my life and my savings :)
Seems like I’m the opposite lmao. I recently left my job, and instead of saving my money, I’m spending it all 🤪 we love an impulse buyer amiright
richest man in Babylon will pay for itself in one reading/ listening. So so good
The scene of you savoring the dorito made me smile. Don’t ask questions.
People, I need your help/advice what to do, I have this problem with my eye, my Meibomian Gland(eye lids gland) is blocked, it produces oil to your eyes preventing them from going dry. My country doctors can only offer to use eye drops, went through like dozen of those and they didn’t help me by an inch, I can’t spend my money on those any longer, they are expensive and worthless in my condition. Waking up every morning and the first thing you feel is sand in your eyes, dryness and discomfort through the day. I tried everything that I can do at home: exercise my eyes, use warm compress and other things, but nothing works. If you know anything that could help me please let me know I’m only 21 y.o … I don’t want to live the rest of my life in this condition or leave sooner than I want… This is really killing me day to day, I have so many goals to achieve so many dreams to conquer. I appreciate if you read it so far, and thank you from the bottom of my heart, peace.
Would you like someone to trade on your behalf he is very good...
Withing a short term trade with him you could gain a little ground..
What say you?
You could get a loan and trade, after that you pay the dept and the for your surgery as well tell your parents and I'll refer you to the market wizard himself Michael Marcus
Tell him Anastasia referred you to him
@@iAnastasiaRex I need a little bit more information about this, can you explain to me in more details.
@@silorak8723 Well i happen to know Michael Marcus, He is a well known expert a commodity Expert, you could contact him on WhatsApp to assist you in trading and in less than no time I can assure you that your going to pay for your surgery with just a short term deal with him tell him (Anastasia Rex) refered you to him... Thank me later once the surgery is successful which I pray it is... Stay Safe
Richest man in Babylon is great, also recommending the Wealthy Barber from David Chilton.
Good video!
Excellent ALWAYS JOEY! Always cutting thru the junk and simplyifing making common sense worth its way on gold 🪙
"Avoid consumer traps wherever you can" - "Also, this video is sponsored by Audible, sign up and pay a monthly fee!"
oh yhhhhhhhh lmao
Is every ad a consumer trap?
@@randomuser66438 yeah
Did you pass the test? 🤫
The knowledge you can gain from the audio-books can potentially make you earn milions, so it can be good or bad in response to how you use the tool
That stabbing the laptop screen with money really got me. Hilarious!
Hey I make films, i made a really inspiring one called believe in yourself today. could you check it out for me please and maybe sub too??
This dude sometimes really hits the timing with my life problems
Same
He's right on your front porch!
Its because its universial. 😅
Exactly, didnt even know there was a term for it. 23 years old. shitty things happened before covid, then covid, built up a business, started feeling very proud with my direction in life. In fact my favourite things to do was to build upon my business, it was honestly my hobby/passion/the only thing that makes me get up in the morning to do the early collection postage. All the money I got
i completely reinvested into the next bigger hustle, movement, scaling up. I DIDNT SAVE ANYTHING.
Long story short I fucked up on 2 purchases, and without savings I pretty much got stuck, my monthly payments came in and wiped what I had remaining in my balance that kept my spirit up until then.
In a way, just like he said with his consumer trap, we can easier stop randomly scrolling amazon, but the sneakiest trap is the one that you think is supposed to get you toward your financial goals. His last rounding tips was exactly what I needed, especially since Im getting some money collected tommorow and it's really helped recover my shitty mood during that entire time.
I wish he would go a lot more in detail.