Getting rid of toxic financial habits | Money Talks podcast

Some people develop bad spending habits due to stress, while others learn them in childhood. How do we recognise these behaviours and more importantly, how do we get rid of them? Benny Ong of investment advisory community I Quadrant shares his experience.
0:00 Intro
0:38 Financial news you can use: Youtrip e-wallet limit increase, Red Sea attacks
5:12 How Benny watched his father sink into credit card debt
7:06 Becoming a cash hoarder: How that can be detrimental
14:00 Breaking free and building better habits
20:06 What's next after kicking away these toxic financial habits

[@carnesir]

Seriously iquadrant?! This is an award winning podcast right?
Pls do your due diligence!!

[@tritonyeah]

lol

[@zhihao5750]

getting someone from iquadrant to talk about this... this is a joke

[@money3ss]

Nowadays past failure, screwing up, family debt, poverty & mismanagement sells

[@ipanmei3380]

hahaha CNA gets someone not regulated to give financial advice to dish out financial advice.

[@leeaaron7856]

When you worked so hard to get out of debt, you then go back into debt in order to be successful? Come on, this not good advice.
Once a person gets out of debt, the advice should be, stay OUT OF DEBT and build your wealth with pure cash that you earn. When you do not have a debt, your income will build up much much faster, and before you know it, you have sufficient cash to do your investments. The key is, stay out of debt and upskill your talents, so that you can increase your income. Increase income, increase cash pile. Increase investments without debt. You can use this for real estate as well. It can be done. I have done it, and never looked back.

[@yourowneconomy]

wow. hope no one takes this advise seriously without researching all available options

[@leeaaron7856]

@@yourowneconomy And why can't people take what i said seriously? You know, lots of people do not believe what i said. The average normal person thinks, you need debt to be successful. So they go buying investments with bank borrowings. I started out this way, piling out debt after debt. It came to a point where i found out that my margins were so thin (Income minus all debt and expenses). So i ranked all my debts and guess what, bank loans were eating up my margins, big time. Managed to trim down my portfolio and eliminate all my debts and started off fresh with a no debt strategy. And i grew my real estate business all over again. I thought i couldnt do this with the bank's help, but i was wrong. My portfolio risen to the same level i had with debt in past, but this time, i dont owe anybody to get to where i am.
What truely matters for anyone out there is to discover what you are good in. Excel in it and capitalize it. This is the greatest investment. Start off with a no debt strategy. There many ways to find funding without bank loans. You just need to think hard and give yourself time to build the wealth.

[@Hubie10]

CNA usually good.
This talk is utter garbage...