Thanks for watching! You can connect with Enoch and the Savvy New Canadians blog here: www.savvynewcanadians.com/ facebook.com/savvynewcanadians/ twitter.com/savvycanadians/
Hi Rob and thanks for your comment. We were definitely not sponsored by Enoch or by anyone else to make this video. We just thought it could be valuable information and wanted to share it. When we do sponsored videos we always make sure to disclose it clearly. Hope you enjoyed the video and have a great day :)
Thanks for increasing my knowledge in personal finance and investment, I recently subscribed to your channel. I want to give a big shout-out to all those working tirelessly to earn a living and build wealth during this recession. My husband and I are both retired and debt-free, and we're living smart and frugal with our money. Despite the recession, we're still earning passive income thanks to our savings and investments in the financial market. Investing lifestyle has enabled us to earn a steady monthly income through passive means, and we're grateful for it.
Congratulations on your early retirement. Right now, I could really use some investment advice or tips on investing. Last year I hesitated until the year ended without making any move. This year I decided to try something because I'm very open to ideas on how I can invest. When I see your comment I believe that you have an experience in it that could be of great help to me. Hope you don't mind sharing?
@@martyedgar4678 That's not a problem at all! I would advise you to determine your investment horizon, but I recommend a long-term plan if you are looking to make a lot of profit on your investment. I created a long term investment plan with Claire Martha Magalhaes who helped me invest and manage my investment while getting on with my job without worry.
@@MariaGarcia-gv8hj Thank you for your advice. It's challenging to find a reliable investment advisor, and I appreciate your input. Seeing the successes you've achieved through investing, I would love to have access to your investment advisor's information if you wouldn't mind sharing it.
Working with a skilled financial planner can be compared to having a mentor in the field of finance. I used to struggle to invest on my own and ended up losing money, but things changed once I started working with Claire Martha Magalhaes. She played a pivotal role in helping me improve my financial situation. Previously, I relied solely on my job and salary for income, but now I have found ways to generate additional income with ease, which has allowed me to leave traditional employment. Nowadays, I believe that investing is not a choice, but a necessity for anyone who desires financial independence and a good quality of life.
Personally, I feel fortunate to be one of the many people who have had the opportunity to work with Claire Martha Magalhaes. Thanks to her advice and expertise, I have been able to provide for myself and lead a fulfilling life. Claire is a highly competent and trustworthy advisor, and I am truly grateful to have her on my side. It is not easy to find someone who is not only knowledgeable but also has the necessary skills to manage investments effectively. I feel indebted to her and will continue to offer my support and prayers.
Glad to see Enoch here. I like his blog so much ! Lots of valuable personal financial information / content ! 👍 However I'm not sure how this video fits your channel & audience... 🤔
@@jamesengland7461 We all need to be financially literate a.s.a.p. in our life. Believe me, I continue to learn every day about personal finances (and want to) even though I reached FI at age 35 (now 37). But this channel that I love and follow for quite a few years isn't about personal finances (at least, not directly)... so I was wondering why such video/topic was posted today. Also, I mentioned in my original comment, there is no hate here... I read and follow Enoch on his blog since 2-3 years and I like it a lot 🙂
This video is missing a giant disclaimer that this advice is suited for people living in a *candian financial system*. Every country has it's own financial system quirks, which does change the ideal advice a surprsingly large amount. If you are watching this video and thinking you're in a tough situation, please seek advice - but advice that's relevant to where you are.
Oh thx you soooo much. I missed this kind of videos from you guys so much. You inspierd and changed my hohle life with them. I made a tatoo about one of your first videos where you explained about thinking how much time you have to work for a coffe and if its worth...
Thanks for your comment Sarah! We always try to cover a variety of different topics on our channel but it's sometimes tricky to strike a balance with exploring new topics and also sticking with the overall them of the channel, so it's great to hear that you continue to find inspiration in our videos :) Have a great day :)
Wish there had been some attempt to link this to alternative ways of thought or (collective) action in some way. Instead, it's just a conventional (and common) approach to personal finance...
Hmm... I've always heard the emergency fund needs to be the first priority or atleast be built-up while paying off toxic levels of debt. Logic being a growing debt is bad but a life event you can't cover can be tragic leading to homelessness or a loss of a job
Be humble and not greedy and U will not have financial problems. Get a job and each month save some money so U will have a financial reserve for bad times. Do not buy things U can not afford!
Many of us are fortunate to have an upbringing where we saw this in practice and absorbed it through osmosis. Consider it a blessing and know that not all are that fortunate.
@@garychiang2568 Idk about you but growing up I didn’t have any of this modeled for me, and yet, like OP, it is mind blowing that this is new/helpful information for some people. I can’t say I’m too surprised, given how dumb the average person is, but it still is a reality check for me realizing half the population hasn’t developed the “cause and effect” or “action - reaction” portion of their brain, coupled with basic forethought.
I disagree with point nine. I would invest that money in improving my physical and emotional well being. That would make a huge difference in your life down the road. The markets are not a certainty whereas health improvement can benefit you each and everyday and on into the future. Nourish your temple and radiate goodness from there.
To start my emergency fund I had money taken out of my paycheck and deposited it into a savings account that I can't access online and can only withdraw from one of that banks ATM. I found that I don't miss this amount from my paycheck and not having online access means it's not easy to check the balance. It works well for me.
Good tips, but when inflation skyrockets and filthy rich corporations do NOTHING to raise wages, I'm pretty sure the problem is much bigger than any individual with debt. Anyone want to lay out a plan on how to deal with that part????????
Unionise and strike. That's what helped raise many wages in my country. Wages, including minimum wage, have been lagging behind for years but in the past year or two we've had many strikes and wages have increased overall. Currently a major supermarket chain has empty shelves because workers in distribution centres are on strike. So yeah, unionise and strike, and for long term effects vote for politicians who actually represent the workers instead of the CEO. Vote social democrat or democratic socialist, as politicians can change nationwide policies. Don't tolerate politicians who are just lobbbyists for major companies.
@@DanDanDoe In the u.s,.employers just replace you if you try to unionize or strike. I think it has been successful in very specific situations, but very few. I sure hope more workers strike, but so far nope.
@@jamesengland7461 if you have a family to feed, or yourself. Personally, I'd rather develop hunter gatherer skills of my ancestors than work for the greed mongers.
This video threw me, as every video this channel has published to date (that I've seen) are related to "documenting the many ways that people are experimenting with alternative homes and lifestyles in their own creative, and inspiring ways" and the rare adjacent video. While budgeting is nigh universal, this video had no content specifically geared towards this topic or channel (unless I missed something). Your opening didn't even tie it in to your channel (such as saying how ordering one's finances would allow you to fulfill your dream of living in your own unique home/lifestyle). It felt like an informercial (albeit a subtle one, which, depending on your perspective, may be good or bad) to lead you to a brand to buy their associated products. This didn't seem right. What's going on? Is everything okay? Were you sponsored by Enoch Omololu or his entity Savvy New Canadians to publish this video on your channel? If so, why wasn't this disclosed?
Thanks for all your feedback Rob :) This video was not sponsored by anyone. We just want to start sharing more varied content that might be helpful for people but it's a work in progress. You made a good point about the intro and tying it to the channel and we'll try to keep that in mind for future videos. Have a great day :)
From a European to Americans, This is *the* easiest way to cut on expenses: Only buy stuff you really need, i.e. don't be a materialist (don't has materialism as a lifestyle). Dictionary: materialist: a person who considers material possessions and physical comfort as more important than spiritual values materialism: a tendency to consider material possessions and physical comfort as more important than spiritual values. Regarding "spiritual values", That could be travelling : Meet people in other countries and experience their culture who can very different from the US one.
I'm literally in debt by living on government income and it barely pays the bills in a dead area with no job opportunity and that's before buying food. Oh and did I mention I lost 20k life savings trying to invest? :')
Haven't watched the video, but you can definitely beat Dave Ramsay's plan (baby steps?). It's good for people who have problems with debt for sure, but falls short otherwise
@@Austin-fc5gs there’s always good/bad to financial advisors. Agree and disagreements. I prefer Suze Orman vs Dave Ramsay. Neither is better over the other. It’s just a matter of preference. Yeah, you’re right, this guy who made the video is essentially just repeating Ramsay. Idk, imo… the BEST financial advisor should be ourselves
Huh? You can "beat" the (un)original. Dave's "plan" isn't unique and Enoch even mentions him early in the video. The steps in this "plan", like many others, are all common sense. However, it may help someone.
Thanks for watching! You can connect with Enoch and the Savvy New Canadians blog here:
www.savvynewcanadians.com/
facebook.com/savvynewcanadians/
twitter.com/savvycanadians/
Were you sponsored by Enoch Omololu or his entity Savvy New Canadians to publish this video on your channel? If so, why wasn't this disclosed?
Hi Rob and thanks for your comment. We were definitely not sponsored by Enoch or by anyone else to make this video. We just thought it could be valuable information and wanted to share it. When we do sponsored videos we always make sure to disclose it clearly. Hope you enjoyed the video and have a great day :)
Thanks for increasing my knowledge in personal finance and investment, I recently subscribed to your channel. I want to give a big shout-out to all those working tirelessly to earn a living and build wealth during this recession. My husband and I are both retired and debt-free, and we're living smart and frugal with our money. Despite the recession, we're still earning passive income thanks to our savings and investments in the financial market. Investing lifestyle has enabled us to earn a steady monthly income through passive means, and we're grateful for it.
Congratulations on your early retirement. Right now, I could really use some investment advice or tips on investing. Last year I hesitated until the year ended without making any move. This year I decided to try something because I'm very open to ideas on how I can invest. When I see your comment I believe that you have an experience in it that could be of great help to me. Hope you don't mind sharing?
@@martyedgar4678 That's not a problem at all! I would advise you to determine your investment horizon, but I recommend a long-term plan if you are looking to make a lot of profit on your investment. I created a long term investment plan with Claire Martha Magalhaes who helped me invest and manage my investment while getting on with my job without worry.
@@MariaGarcia-gv8hj Thank you for your advice. It's challenging to find a reliable investment advisor, and I appreciate your input. Seeing the successes you've achieved through investing, I would love to have access to your investment advisor's information if you wouldn't mind sharing it.
Working with a skilled financial planner can be compared to having a mentor in the field of finance. I used to struggle to invest on my own and ended up losing money, but things changed once I started working with Claire Martha Magalhaes. She played a pivotal role in helping me improve my financial situation. Previously, I relied solely on my job and salary for income, but now I have found ways to generate additional income with ease, which has allowed me to leave traditional employment. Nowadays, I believe that investing is not a choice, but a necessity for anyone who desires financial independence and a good quality of life.
Personally, I feel fortunate to be one of the many people who have had the opportunity to work with Claire Martha Magalhaes. Thanks to her advice and expertise, I have been able to provide for myself and lead a fulfilling life. Claire is a highly competent and trustworthy advisor, and I am truly grateful to have her on my side. It is not easy to find someone who is not only knowledgeable but also has the necessary skills to manage investments effectively. I feel indebted to her and will continue to offer my support and prayers.
It's kind of you to post this! Financial literacy can make such a difference in our lives, and this was a good, easy-to-follow overview. Thanks!
Thank you so much Matt and Danielle ❤
Thanks for this informative video!
You're very welcome Diana, hope you found it helpful :)
Please more content like this again. Love you
Thank you!
Thank you guys! It was very helpful and in time. All my desires and wants disappeared totally.
Glad to see Enoch here. I like his blog so much ! Lots of valuable personal financial information / content ! 👍 However I'm not sure how this video fits your channel & audience... 🤔
Who doesn't need sound financial advice in order to live sustainably?
@@jamesengland7461 We all need to be financially literate a.s.a.p. in our life. Believe me, I continue to learn every day about personal finances (and want to) even though I reached FI at age 35 (now 37). But this channel that I love and follow for quite a few years isn't about personal finances (at least, not directly)... so I was wondering why such video/topic was posted today. Also, I mentioned in my original comment, there is no hate here... I read and follow Enoch on his blog since 2-3 years and I like it a lot 🙂
This video is missing a giant disclaimer that this advice is suited for people living in a *candian financial system*. Every country has it's own financial system quirks, which does change the ideal advice a surprsingly large amount. If you are watching this video and thinking you're in a tough situation, please seek advice - but advice that's relevant to where you are.
I don't see any American channels displaying a disclaimer.
Oh thx you soooo much. I missed this kind of videos from you guys so much. You inspierd and changed my hohle life with them. I made a tatoo about one of your first videos where you explained about thinking how much time you have to work for a coffe and if its worth...
Thanks for your comment Sarah! We always try to cover a variety of different topics on our channel but it's sometimes tricky to strike a balance with exploring new topics and also sticking with the overall them of the channel, so it's great to hear that you continue to find inspiration in our videos :) Have a great day :)
Wish there had been some attempt to link this to alternative ways of thought or (collective) action in some way. Instead, it's just a conventional (and common) approach to personal finance...
When I was working 50% of my salary went to pay the mortgage. A another 10 to 15 %, and I lived on the remaining
I meant that I lived on the remaining balance.
The 10 to 15% was to pay the bills.
I think everyone wants easy money, especially in Indonesia bro, it's hard to get money 😊😊
Really good video, you should do more financial videos like this!
Thanks Levi :) We were trying out something a little bit different here and happy to hear you enjoyed the video. Hope some people find it helpful :)
An emergency fond should be in gold and silver and not in the banking system.
Hmm... I've always heard the emergency fund needs to be the first priority or atleast be built-up while paying off toxic levels of debt. Logic being a growing debt is bad but a life event you can't cover can be tragic leading to homelessness or a loss of a job
Be humble and not greedy and U will not have financial problems. Get a job and each month save some money so U will have a financial reserve for bad times. Do not buy things U can not afford!
When wealth becomes unobtainable, money become pointless.
I don't understand your meaning? When you aren't earning money, learning about money management isn't a priority?
I am just blown away that this is some new/ helpful info for people.
Many of us are fortunate to have an upbringing where we saw this in practice and absorbed it through osmosis. Consider it a blessing and know that not all are that fortunate.
@@garychiang2568 Idk about you but growing up I didn’t have any of this modeled for me, and yet, like OP, it is mind blowing that this is new/helpful information for some people.
I can’t say I’m too surprised, given how dumb the average person is, but it still is a reality check for me realizing half the population hasn’t developed the “cause and effect” or “action - reaction” portion of their brain, coupled with basic forethought.
I disagree with point nine. I would invest that money in improving my physical and emotional well being. That would make a huge difference in your life down the road. The markets are not a certainty whereas health improvement can benefit you each and everyday and on into the future. Nourish your temple and radiate goodness from there.
But what about crypto and e-commerce?!?
To start my emergency fund I had money taken out of my paycheck and deposited it into a savings account that I can't access online and can only withdraw from one of that banks ATM. I found that I don't miss this amount from my paycheck and not having online access means it's not easy to check the balance. It works well for me.
Good tips, but when inflation skyrockets and filthy rich corporations do NOTHING to raise wages, I'm pretty sure the problem is much bigger than any individual with debt. Anyone want to lay out a plan on how to deal with that part????????
Unionise and strike. That's what helped raise many wages in my country. Wages, including minimum wage, have been lagging behind for years but in the past year or two we've had many strikes and wages have increased overall. Currently a major supermarket chain has empty shelves because workers in distribution centres are on strike. So yeah, unionise and strike, and for long term effects vote for politicians who actually represent the workers instead of the CEO. Vote social democrat or democratic socialist, as politicians can change nationwide policies. Don't tolerate politicians who are just lobbbyists for major companies.
Why must you work for someone else?
@@DanDanDoe In the u.s,.employers just replace you if you try to unionize or strike. I think it has been successful in very specific situations, but very few. I sure hope more workers strike, but so far nope.
@@jamesengland7461 if you have a family to feed, or yourself. Personally, I'd rather develop hunter gatherer skills of my ancestors than work for the greed mongers.
@@vcheekv go into business for yourself. Quit blaming others and create your own solutions.
This video threw me, as every video this channel has published to date (that I've seen) are related to "documenting the many ways that people are experimenting with alternative homes and lifestyles in their own creative, and inspiring ways" and the rare adjacent video.
While budgeting is nigh universal, this video had no content specifically geared towards this topic or channel (unless I missed something). Your opening didn't even tie it in to your channel (such as saying how ordering one's finances would allow you to fulfill your dream of living in your own unique home/lifestyle). It felt like an informercial (albeit a subtle one, which, depending on your perspective, may be good or bad) to lead you to a brand to buy their associated products. This didn't seem right. What's going on? Is everything okay?
Were you sponsored by Enoch Omololu or his entity Savvy New Canadians to publish this video on your channel? If so, why wasn't this disclosed?
Yeah the long winded introduction gave me shady vibes too.
Thanks for all your feedback Rob :) This video was not sponsored by anyone. We just want to start sharing more varied content that might be helpful for people but it's a work in progress. You made a good point about the intro and tying
it to the channel and we'll try to keep that in mind for future videos. Have a great day :)
If I can make a suggestion: I miss the videos where you tell something about your own life and way of living.
From a European to Americans, This is *the* easiest way to cut on expenses:
Only buy stuff you really need, i.e. don't be a materialist (don't has materialism as a lifestyle).
Dictionary:
materialist:
a person who considers material possessions and physical comfort as more important than spiritual values
materialism:
a tendency to consider material possessions and physical comfort as more important than spiritual values.
Regarding "spiritual values",
That could be travelling : Meet people in other countries and experience their culture who can very different from the US one.
Yet in the end, all the advice is useless in a system stacked against you.
I'm literally in debt by living on government income and it barely pays the bills in a dead area with no job opportunity and that's before buying food. Oh and did I mention I lost 20k life savings trying to invest? :')
@metasamsara, how did you invest and in what exactly
This is why I respect that they at least acknowledge that in this video. Usually they dont
I'm already retired.
Dayuum!
I should've watched this 50 years ago 😢
Never mind . . . I'm not Canadian, so I don't have to worry . . . 😊
Don't bother, it's his own version of Dave Ramasey plan. You can't beat the original dude
Got that right
Haven't watched the video, but you can definitely beat Dave Ramsay's plan (baby steps?). It's good for people who have problems with debt for sure, but falls short otherwise
@@Austin-fc5gs there’s always good/bad to financial advisors. Agree and disagreements. I prefer Suze Orman vs Dave Ramsay. Neither is better over the other. It’s just a matter of preference. Yeah, you’re right, this guy who made the video is essentially just repeating Ramsay. Idk, imo… the BEST financial advisor should be ourselves
Huh? You can "beat" the (un)original. Dave's "plan" isn't unique and Enoch even mentions him early in the video. The steps in this "plan", like many others, are all common sense. However, it may help someone.
@Austin That's what the video is about, debts, credit cards debts, emergency fund of 3 to 6 months then investigating in a TFSA and RRSP for Canadians
ridiculous
Thank you for sharing and posting this vid.
Thanks so much! We want to start sharing more varied content that might be more helpful for people so I'm happy to hear you enjoyed the video :)