Why Everyone is BROKE
ฝัง
- เผยแพร่เมื่อ 3 มิ.ย. 2024
- 15 reasons why people are broke
64% of Americans are living paycheck to paycheck and 54% of Americans don't have enough money to cover a $1,000 emergency expense. Why is it that so many people do not have enough money to live?
I think there are two main reasons:
1. People are not making enough money.
2. People are not managing their money correctly.
I think the problem is very deep and it is a mix between the two, but in this video I want to focus on the second reason because I think one of the main problems is that people are not managing their money correctly.
As we become more advanced as a species, the cost of living goes up, but it doesn't have to be as expensive as many people make it out to be. In this video, I talk about "15 Reasons Why People Are Broke."
Reason 1: The World is Becoming Dystopian
All people want in life now is convenience and pleasure, which is making the world very dystopian. There is an app that will take away any pain and convenience in your life, but these are bad for society and leave you broke.
Reason 2: The Man and His Tricks
The Man is the establishment put in place to bring us down. The man has many tricks that usually involve shiny, expensive possessions to keep you in debt and make you broke.
Reason 3: People Don't Take the Time to Understand Money
People spend their whole lives trying to make money, but don't take a second to understand money. If you spend some time understanding money you won't need to spend as much time making money.
Reason 4: To Justify Hard Work
Many people work extremely hard, long hours and so when they finish work they need to justify all their hard work by spending money. If you spend less money you won't need to work as hard.
Reason 5: They Don't Care About Money
The less you care about money, the more you are going to have to worry about it. Care enough to understand it and respect it and it won't be as important to your life.
Reason 6: It's More Expensive to be Broke
When you don't have the money to pay for something up front, money becomes more complex. You have interest, fees, and monthly payments. Save and buy things in full because it is much cheaper that way.
Reason 7: The Rich Mentality
Many people think that having money means spending everything. The average millionaire does not have fancy cars and big houses, but respects money and uses it to enhance life.
Reason 8: They Celebrate Christmas Everyday
People like to open presents and a company called Amazon has made it possible to get a package to your door every day like a little present. Just like Christmas presents, most of the time these just get put away and you are left with less money.
Reason 9: Lack of Contentment
Our society fails to teach us how to be content. We are constantly upgrading things and seeking happiness externally which is an expensive habit.
Reason 10: They Throw Money Away
People spend a lot of money buying things for the excitement of the purchase. There is a lot of excitement involved in the purchase, but most of the time the excitement fades away and you are left with clutter and less money.
Reason 11: The Don't Have a Balance
Life is about having a balance. You can't save all your money thinking times will be better, but you can't spend all your money and live paycheck to paycheck. It's important to have a balance.
Reason 12: Lifestyle Adjustments
As we get older, we generally start to spend more money because our standards get higher. People, however, will go to an extreme and base their spending off their salary, but when you do this you are often living paycheck to paycheck.
Reason 13: No Budget
You can't live by chance, you have to budget your money so you know where it is going. Create a budget so that you will live intentional and not by chance.
Reason 14: Bigger is Better
In the US, we are told that bigger is better. Big houses, big cars, and big portions. Bigger is often unnecessary and costs a lot more. Don't feel the need to constantly get bigger things.
Reason 15: Constantly Treating Themselves
A treat stops being a treat when you have it all the time. People spend too much money when treats stop becoming treats. Buy treats on occasion instead of all the time.
*None of this is meant to be construed as financial advice, it's for entertainment purposes only. Past performance is not indicative of future results. Austin Williams does not guarantee any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned may not be suitable for you.* - แนวปฏิบัติและการใช้ชีวิต
Gracias mijitos for watching!
I work because I want to not because I have to 😁
@Michelle he has a good message, but a little long for some of us that have a very short attention span. lol.
@Michelle he is starting. TH-cam is hard but at some point it will grow faster and faster. It’s up to us to help him, by subscribing and pushing like.
Mijo!! que buen video, me encantan tus reflexiones y la forma que enseñas a vivir la vida de forma responsable para estar seguros cuando envejezcamos, muchas gracias por ayudar a cambiar esta mentalidad absurda de consumismo desenfrenado, saludos desde Colombia :DD
Thank you for your videos! I use them on my teenage children. Your videos are like the SESAME STREET show for them now
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
Impressive can you share more info?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
I started following a budget 33 years ago and owe nobody anything. My house is paid off, car is paid off. I have investments and money in the bank and can afford to do whatever I want and buy whatever I want. But I don't. I'm still careful with money. And I'm happy.
Married?
Money doesn’t buy happiness, but it certainly buys freedom.
@@jokerpilled2535 money buys time, and time doing what you enjoy is happiness for the most part
Congrats
I want a house but with the price of 33 years ago. Just the house, everything else can be today prices.
“Please do not sell your soul for a pine cone with glitter on it.”
Tyler Durden summarizes this perfectly: ”Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don’t need.”
Yeah but remember Tyler was selling something too and was asking just as much if not MORE for it.
The dumbest part is nobody is really that impressed by anything you buy anyways in the real world. I could drive a brand new 50k Lexus to Walgreens making huge payments and it's not like a hot blonde is gonna throw herself at me lol. Unless you're loaded a simple cost-benefit analysis reveals how dumb that is.
#Facts
You kind of ‘need’ cars and clothes and big house and stuff you can’t afford because those are all status symbols and status is obviously important for mate selection.
"... to impress people we don't know nor care about"
Best thing I do for myself is staying far away from people who smoke cigarettes, weed, drinking, gambling, no plans and can't hold a conversation
weed has side effects, and it smells terrible, and it's an addiction
and probably toxic, i watched a whole bunch of videos on how they make cocaine, they use cement, gasoline, acid, etc., you don't know what people are diluting these drugs with
There are other people who have quiet, deadly financial habits too. Beware.
I stay away from people who got a Ph.D. and then spend their lives boasting about it, and thinking they are superior to others just because they paid a lot more for their education than most.
That would be everyone then.
The rich live like they're poor and the poor live like they're rich.
We simply should follow our grandparents lifestyle! Don’t buy fancy things, don’t throw what can be repaired, don’t buy more food then you could eat in few days etc etc….
I agree 😀
New favorite quote: "Don't sell your soul for a pinecone with glitter on it."
Austin has some fantastic quotes !👏😂
I pick up my pine cones off the floor when I go for walks, lol.
@@monicas2269 Put glitter on them and sell them!
Creating wealth entails establishing positive routines, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital subject that many avoid, often leading to future regrets.
Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%, adding over $650K in profits. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.
It's important to allocate assets correctly; some people utilise hedging techniques or set aside a portion of their portfolio for defensive assets in case of market downturns. To do this, professional advice is essential. With investments of close to $1 million, this strategy has enabled me maintain financial stability for more than five years.
@@mariaguerrero08Mind if I ask you to point at how to reach this particular person assisting you? Seems you've figured it all out unlike the rest of us.
*Gertrude Margaret Quinto* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.
I've been drastically reducing my spending and needed this video to help me stick to my new more minimalist (but not completely minimalist) lifestyle. I spent $400 less this month than last!
Well done, keep going 💪
@@eniloracnoddes6313 Thank you!
The poor accumulate stuff, the wealthy accumulate assets.
The wealthy also have Stuff.
@@suzannederringer1607 Not nearly as much, at least in comparison.
And a child of God collect treasures for heaven. Alleluia!!!!!!
@@ChaosTherum In countries not developed thr rich have most of stuff and assets.
The wealthy accumulate both. They're just smarter and don't spend beyond their means
“Selling your soul for a pine one with glitter” did it for me 😁😆😄😆
haha, you know what I'm talking about!
I think the core of the issue is people trying to live above their means. Spending money on nice things doesn’t mean you’re an irresponsible person, spending money you don’t have is irresponsible.
If only they knew basic arithmetics...oh, wait a sec, it was taught in primary school! 😂 Money in, money out, keep correct balance. Simple and obvious, so no excuses!
@@mikesamovarov4054 Well they have to make enough to avoid poverty otherwise they will be poor by default. The problem is do they even make more than they spend buying only the minimum. If they don't well that is a good reason to be and stay broke.
All of this. So true! I cancelled my Amazon prime and decided if I really want something I should be willing to pay shipping for it or wait a week to get it. So far it’s been working. I’ve had one purchase in 6 months and it was a necessity.
I'm about to cancel my prime as well
Canceled mine and only have to wait until I have a $25 order to get free shipping. Result? One order for $25 all month. Big difference for me!
How could you support a company who takes advantage of people. I could never get near Amazon it’s a gross company
I canceled mine! I use eBay and Macys has great deals!! Then I just go to the store
I place items in my cart until it reaches $25 for free shipping. Most time, I don’t need it.
Lots of truth here! Live beneath your means, don't spend foolishly, cancel those subscriptions, cancel Amazon Prime. Buy what you NEED, pay off ALL non-mortgage debt - cars, credit cards, loans, etc...Save what is left over...Get your life back. Buy a used car, pay it off in cash, drive it until the wheels fall off.
Salaries are not high enough compared to the cost of living. Rent is very expensive. Food is crazy expensive. Salaries only go up in my company 1%.
You are right though.
Yes, it is a very deep, complicated subject.
You’re so right about the Amazon habit being like having Christmas every day. I don’t want to sell my soul for a pine cone covered in glitter. I am definitely going to work on this.
Honestly, for years now I just pay for the necessities and the lowest prices I can get. But I am still broke. Every expense I have is price gouging. Groceries, up 40%, Condo fee up 40%, Property Tax up 20%. Gas up 20%, Pay, pretty much the same as it ever was. No one is buying things they don't need anymore. Unless they have given up.
The ironic part is, our consumer based economy depends on people wasting money. No spending - total collapse of the system. And they raised all the prices on necessities so we can’t get around spending
I've often said that shops etc don't make a profit from me because I very rarely buy anything expect food. I'm wearing clothes that I've had for years, if they still fit and are in good condition then why get rid of them and buy new. I do understand though that the economy relies on people spending. At this moment in time, in the UK anyway, our cost of living is shooting up and people can't even afford the basics. The cost of energy and fuel has put the price of everything up and people can't afford anything except the essentials and sometimes not even those. If the government doesn't help to change things asap, goodness knows what will happen. I've always lived like Austin is suggesting, so I can afford to ride out this crisis but many are really struggling and rely on food banks to live. It's disgusting that things have come to this.
@@monicas2269 the precise same gas happened here in the U.S.A. It's absurdly corrupted and sickening. I've had a roommate for years and still do and our rent has been raised 3 times now since covid began and the pet rent for animals gas been raised also. None of utilities are included anymore. Everytime I want to move out I can't basically because places around where I am are asking in the flipping $600s or some places more of dollars for a STUDIO APT. As in you have no official bedroom even. Trippin.
I’m in my 50’s, I’m retired and a millionaire. I never made a ton of money (I did ok) but I lived exactly as you described (Except my BMW😃) and now I do what I want. Your advice brother... spot on! 😃
You either mad a million after taxes, fees, expenses etc. Or you count something expensive like a house which is illiquid because you will likely need a place to live. Either way your income likely outpaced your expenses which has allowed you to get to the point you are today.
I live frugally the best I can and yet still very difficult to save but I do Contribute to my 401(k) every week but I’m one of the few where I work that can’t really afford a vacation and I’m not going to put it on a credit card
@@donaldlyons17 I invested in stocks and rental properties, good luck to you 👍
Keep investing and good luck to you 👍
Video Summary : ‘Don’t sell your soul for a pine cone with glitter on it’ 🤣🙌
That alone deserves my subscription.
Bendiciones
Estamos Activo 🤝
Go in the woods. Pick up a pine cone. Put glitter on it. Save $10!
20 years ago, when I was broke, I read the book Rich Dad, Poor Dad and it changed my life. And I wouldn't say I'm very clever with money, I just picked up a few good tips I've used.
I'm losing my condo of 33 years. The special assessments have gone up 40%.
I've used all those tips for years. I've scrimped all of my life. Saved all my life. Thrift shops, clearance sales., paid condo, paid off old car, and I can't afford groceries or incidentals now. I'm eating pasta, grits, rice, cheapest food I can find. Great retirement 😌 The government knows. 🤫 I'm broke and have always lived frugally. ??????
What went wrong other the condo expenses? Some of the condos fees go up 4 to 6 percent a year. Best to have a small house with no HOA and if you have kids, ask them to mow for you. Also as we get older, we have more medical bills and co pays. Family can be the worst takers so never help family more than once then let them learn to live like you did. I have never used Uber eats but do like to enjoy being retired and able to get by in peace. Wish you the best of luck.
HOAs are DEADLY. Move to a cheaper area where you can buy a small house with no HOA!
Been doing a number of the points raised here. Can certainly do more. Teaching money management should be mandatory in school.
Good stuff. Totally agree. I used to be a spendthrift until I went broke and had to start all over at 50, after living a lavish life for quite some time. I now use my laziness and sense of procrastination to avoid spending money. I love minimalism, living in a small space, buying quality things that last and saving the majority of my income as my expenses are miniscule. I notice these big subdivisions that pop up soon have Rooms To Go, all kinds of stores to fill up that new, big house with new furnishings. Restaurants and you need a nice, new car to be like your neighbors who you hate.
hate is a strong word
Subdivisions are one of the worst things that ever was invented. It just destroys the land.
I HAVE AN OLD 2006 CAR, LOW CAR INSURANCE, LIVE IN A COZY STUDIO APARTMENT, NO KIDS, NO WIFE, GOOD PAYING JOB NO DEBT ,LIFE IS GOOD!!
My father was a wealthy aristocrat and fled his overbearing family. He lived a comfortable lower middle class life in nice suits, cheap used cars and with a sense of abundance. He loved food and cooked a lot for many friends and family members. He learned how to cook from a job working with a sous chef (probably for minimum wage). I never saw the inside of a restaurant until I was 13 and my older college age brother took me for a crappy quality breakfast at I Hop. I have never budgeted because I naturally, happily live very frugally, way below my means. My mother and father taught me about sales at fancy stores and very intentional purchases of quality items with cash. My quality, lifetime, titanium cooking pans cost $4000 dollars and my nice used car was $10000. My things have never owned me. I actually took a book out from the library on budgeting to help me spend more of my accumulating money without sensing that I was being exorbitant. Libraries and many parks are free and have enriched my life more than any fancy auto could. A great hobby that has enhanced my life is gardening and landscaping. Planting 1 gallon native trees, shrubs and plants with straw for mulch keeps the cost of your future garden cheap and eventually very beautiful and free of added water.
I have seen my share of “Why People are Broke” videos, and I can honestly say that this is the best and most relatable one I have ever seen. Thank you for this great video ☺️
Thanks!
I remember having a friend that would often spend his entire weekly earning from his part time job in a single night at 'da club'. I used to think he was an outlier, then i realised that he was the norm and that i was the outlier.
Became unwittinglly frugal as I grew more health and environmentally conscious. Prepare my own healthy meals thereby also avoiding takeaway packingings. Take public transport and avoid running the air-con to reduce pollution. Always debate with myself before buying anything which may soon end up in the waste pile. Frugality could therefore be the solution not only for our financial concerns but also for the environment.
P.S. Btw, haven't been to the hairstylist's for the past two years due to pandemic restrictions and discovered I look good with long hair tied up in a bun.
After seeing all the luxury goods for sale, the rise of Doordash and all that, and nearly every commercial is for a luxury car it always made me wonder if there's this huge influx of spending money most people have. Now everything is going to an expensive subscription model and rapid inflation hasn't seemed to change either of these trends.
Spending lots of money only satisfies the ego and the ego always wants more.
So True! But I notice that I am more broke when I'm in a relationship. But always live below my means so it's ok for now.
I spent most of my life on financial cruse control. The only goal I had was to pay off my mortgage by age 60. That was it. At age 58 I was just starting to get tired of not having any money in my wallet, that with a household income north of $140/year and worried that the national economy would eventually tank.
So with that in our heads we snowballed our debt, payed off "a lot" of debt and finally got it mostly paid off last fall but since we didn't have any financial goals except paying off the mortgage we purchased a new car in Sept 2020 to replace one that was totaled. So it wasn't like we backslid into more debt, rather we just did what we thought was normal that is paying off a car loan. But since we had come so far we decided to make paying off this car loan a priority and to start a new car fund so the next car would be a cash purchase.
Then one day a light switch was turned on and we decided to grow up.
Some would say just make the requested car payment which for us is $485/month because the loan is 1.9% APR. We just really want the car paid for so to make a long story short we put about $55k/year into our 401Ks, have no other debt except the car which has a $15K balance and we make between $1000 to $1500 payments on this car per month and will have it payed off early next year.
All of this is to say I think we have fooled away a lot of resources over the years but it is not too late for us to save up enough to live decent in retirement. We know a lot more about money and finances now than 10 years ago. 6 years ago we had between us 5 credit cards, a mortgage, a parents plus student loan and a personal loan for our daughters college and at least one car payment. Now we just have a car payment so we lost a bunch of our money bleeds but we gained...(drum roll)...a household budget.
And that is in my view the key to this thing, having a budget. Once you see exactly where your money is going, you then take hatchet to the unnecessary expenses we all have. Then the next thing you realize there is a difference between wants and needs and you find that you can manage money even in the middle class and not live in debt so it actually becomes fun to take control over your finances. Finally, you see some of your co-workers enter retirement with nothing saved and you don't want to be in that position.
I have always been thankful for my job and I work for a great company and good people and have set my retirement at age 70. Partly because my wife has to work 3 more years for pension reasons and I cannot retire before she does but also to give us more time to put money into the bank. It is however a difference knowing that you have to work because you have a ton of bills to pay compared to having the ability to live off less than half of what you take home, the stress is a lot less and you don't worry about things that are eating up some people such as food or gasoline prices. The situation we find ourselves in now we could survive if both of us lost our jobs tomorrow, a position unheard of 5 years ago.
I live in NE Pennsylvania near the old Anthracite coal mines, I went to college in West Virginia near the old soft coal mines. Back when coal was king, the miners worked for company script and had to buy their stuff in a company store, there was no other option. The coal mine owners were "The Man", they owned workplace, the stores, the homes and the schools. The Man said jump you said how high?
Today, the coal mines work differently, we gladly sell our soul to the banks, "The Man" in a suit and tie and making all kinds of promises. Credit cards and car loans are the newfangled company script. We are not like the old time coal miners forced to buy at "The Man's" store, no we are happy to enslave ourselves and even brag about it because we accept the company script in plastic at 16-30% interest.
Time to throw off the shackles of "The Man" get rid of debt, live below your means and be ye free. Can someone give me an Amen?
Great video Brother Austin.
Retire aged 70
Are you mad??,
I loved your story Thomas. You should start a you tube channel when you’re retired helping people avoid your past mistakes with money. Lots of people need your help! Thank you for sharing. I hope you get to retire sooner than 70 if possible. Curious…would you relocate when you retire? We love the mountains and are thinking Utah or Colorado. We currently live in crazy California…basically raised here and raising our own family here now. We want out soon…
Best of luck to you going forward.
Amen
@@tholm4307 Thank you for your kind words. Where we live now the cost of living is fairly low but it is sort of creeping up. The big question in our minds is do we stay here and put some money into our home or do we sell and relocate? I really cannot answer that question right now. PA is probably the easiest on the wallet for those in retirement in the north east but lots of places are better.
There are two places I think about moving to once I hang up my spurs. The first is north central PA along the NY border. Property is inexpensive you can buy 20 acres with barn and pastures and a 3BR home at around +/- $200k. RE taxes are better than where we are now. The second is central West Virginia. This is not a place for anyone that needs to work and it is "rural" but 50 acres is nothing there.
Our place in PA is reasonable in terms of nice places to live. It is semi-rural here and we have 3.5 acres but about 2 of them are on the side of a mountain and thick with trees. The place is paid for so our cost for the 5 essentials (RE taxes, insurance, heating oil, propane and electricity) is right about $1000/month. I have friends and family that live in NJ and NY and some of them are paying more than that just for RE taxes but their homes are worth twice what mine is. But I would repeat what just about everyone who has an opinion on this subject and that is CA is no place to retire unless you have a ton of money and want to off-load it. From what i hear Colorado is becoming expensive also.
You ask a good question. I don't know if it is all just about money though. In NJ, there is a law against everything, a permit required to do anything and everything is simply expensive. It's nice but it's not that nice. That's what I like about PA you can basically do whatever you want within reason.
Good luck to you also T Holm.
70 are you crazy? I got out at 55. Work sucks. Are home is paid for. We do just fine on SS alone without touching are investments. I receive at 62 $2343.00 per month. My wife is a little less. We call it play money. We both started working at an early age.
I like your wisdom and financial philosophy. It is counter cultural but it is high time we awake from our slumber and take back our lives and freedom. We cannot go on business as usual. It is Not sustainable.
It's expensive to be broke! I like that, way to look at it! Thank you!
Ha - I'm a young, educated 51, recently out of an abusive long term rel and recently laid off work, massively in debt.... it's been GRIM - So, not all us óldies' have money, but, I sure as SHIT am going to start looking after the money I Am going to make to get back on my feet, your Vids are a Blessing, thanks x a Million ;)
My father delivered bread for a living. My parents went bankrupt, and bought a house the next week. At sixty my father retired with a pension. He had Blue Cross Blue Shield his whole life, with low copay, and affordable insurance premiums. I am an aircraft mechanic, I have a two year degree, and a federal license that requires college, or an apprenticeship, and rigorous testing to obtain. I'm married to a Nurse Practiceioner. Luckily I did buy a property back in the 2000's. But proply found myself upside down after 2008. This year my wife and me decided to look at getting a new home. We can't afford it. Between her student debt, my child support, and the insane housing market there is no way we could afford a new, more convenient, home. We drive used cars, keep our debt to a minimum, and try to cook as often as possible. Still with the current grocery prices we are struggling. So yeah, I don't think it's all peoples irresponsibility that causes the issues you list in your intro. You are vary privileged, and you got vary lucky. There are plenty of people just as smart and savvy as yourself that failed for no reason other then they bet on the wrong horse. The wealth inequality has only climbed over the past twenty years, while average household earnings have largely stagnated. So while there is more wealth, it's in the hands of fewer people.
So enjoy your moment of lecturing us poor working peasants on how our struggles to feed and house our families is all our fault for being so irresponsible. Just remember one way or another there will be a reckoning.
It kind of is, the first mistake was going to college. The writing has been on the wall that college has been a losing bet for years and years. I'm someone coming from an extremely low income family like 10k a year in the late 2000s low income. I learned some skills and am doing just fine without college, and no debt besides a car loan that I'm about to pay off.
Sure the economy sucks and it's a struggle for nearly everyone but you can't blame everything on society you do need to take some amount of responsibility.
Either way I hope things go well for you, it sucks to be in that position.
I'm not broke.
I shifted to having cash rather than spending cash years ago.
Most people don't have $1,000 for an emergency.
Some of them are spending $1,000 a year buying a cup of coffee.
Some spend a lot of time thing about what they're going to buy next.
They are addicted to the rush, which doesn't last long.
LOVED this video! We are a family of 4 living on one income and I have been for a few years now. I have made it my mission to not accept more is better. I also loved your inclusion of the titles within each bullet number, makes me want to take notes! “If you treat yourself everyday, then it’s not a treat, it’s norm.” That hits home!
About that Reason #9: Society does not "fail" to teach us to be content; it purposely agitates us into being less than content. Advertising is designed to intentionally lure us to always want the next "better" thing than what we presently have. It also tells us we shouldn't have to wait for it. This not only causes us to get the fully loaded XLE version of the full sized vehicle rather than its next smaller & more affordable stable mate but to also go into immediate debt for the greater portion of the cost of that purchase.
I was looking at buying a bigger house recently. I’m glad I started watching vids like this because now I’m focusing on paying off my current one and being satisfied. Especially with these house prices and APR’s.
Right on!
Smart move ! You will be in the " I have no mortgage Club " hopefully soon ! It's a great feeling... also bigger house higher property taxes and utilities !
Life is expensive even without a mortgage. I'd be fine living in a cabin in the mountains with not a lot of stuff but that still costs a lot.
yes, i would love to live in the mountains in mexico or colorado
Excellent advice. I have been doing this for a long time and enjoy it. My car is 15 years old with a dented fender. I buy my clothes at a thrift shop and my friends complain about how I dress. I gave up shaving 40 years ago so no razor to buy. I don't own a single pine cone with glitter. I'm not going to give corporate America a single dime they don't pry out of me.
There is a difference between being frugal and being a bum. You are the latter.
Not friends 🙄
Yes you only live once so live your life!! You have gone to the extreme and when you die, you are not taking that money with you!! The government will get it or your family will waste it away. Wake up and travel and enjoy life while you still can.
I just found you today !!!I really love you content,, It’s me !! Im really frugality, minimalism, simply, live below my mean . Everything you said it’s exactly the way I live right now , my goal I wanna be financially independent so that I don’t need to work for the job I hate ,, I started late. Just 3 years recently, I’m 42 now , after my mindset change I’m feeling life is just easy when things is less , thanks you your video ,, keep motivated me
Right on! Glad you are enjoying my videos!
you are still really young, I didn't realize all this until I was 54... and 5 years later I am debt free and life is so much better!!
My reasons people are broke:
Living beyond means
Consumerism
Low interest loans
Poor financial education
Instant gratification
Impulse control
Wants vs needs
Low income
Laziness
Funnily enough I was just saying, the other day, that hedonism of the current society, is wrecking society- folks expect and feel they are entitled to this thing or exotic holiday. They work long hours and then are ' too tired' to cook or do DIY. I'm so thankful my life is simpler than that and enjoy the riches in a sunset.
I simply don’t get some people I have worked with, that every single day eat lunch out from the supermarket next door. They seem not to have time nor a clue that preparing at home and bringing it to the office is better for your health, cheaper and less costly to the environment. The garbage is always filled up with plastics from prepared salads, chopped fruits, sushis, soups and sandwiches. I am really happy that I have never heard them say that they live from paycheck to paycheck otherwise I would have to point that out to them.
Damn this is my new favorite TH-cam channel. Thanks, Austin, you have a lot of wisdom to share. Keep these videos coming!
Thanks! I'm happy my videos are providing you value!
@@ElAgustin I just opened a brokerage account with Schwab and will buy my first index fund when my money is available tomorrow! 🎉💰🎉
GREAT VIEWPOINTS, IM A 60 YEAR OLD MAN AND AM IMPRESSED WITH YOUR OUTLOOK.👍
I'm broke cuz I ended up with lupus and then I ended up living on disability!
👋Hi Austin! I'm a friend of your parents for many days that have gone by. Love this video. Love your passion. You're spot on with "sticking it to the man". Keep up the great work. I look forward to watching more of your videos!✌️
Hi Rick! I appreciate it!
Great message. Added to my favorites list. You hit on many of the positives I do which make a difference.
Thanks, I needed your channel 😊
Brilliant, solid advice, thank you!
All of your points are on point...Love the way you broke it all down in a Lame Man's term...You and I share the same outlook on money...It's an absolutely must that I share this video as it is so informative and so well presented.
Great content and so timely ~ your articulating how i've always lived and have always been judged for not being a good little consumer. But yes now people are broke and inflation is eating them,
Good video!! You really hit the nail on the head. I agree with what you say. Money doesn't buy happiness without a doubt. We all need it, but we don't want it to control us. Thanks for posting!!!
Good stuff! Thank you!!!
"where there is no vision, the people perish". And "a fool and his money are soon parted" (both from the Old Testament, because people have had the same issues for thousands of years!)
If you don't deliberately think and build your vision for your life and the path you want to take , you are empty and will be filled by any passing fancies. "Nature abhors a vacuum" Think and choose thoughts and mentors and friends on purpose and wisely. If you don't know where you are going any road will get you there.
Larry Winget, in the next comment is right on when he say's to look in the mirror for the real reason you are broke, not everything outside yourself! More money at this point would simply mean more zeros on the end of the stupid money decisions. You must learn to see, think feel and act differently to have a different outcome.!
Peace to everyone on their journey!
Great video, continue keeping us informed! It's all about the choices that a person makes, concerning money! Monthly payments, interest, & fees definitely will keep you broke.. Im definitely tired of payments and fees!💥💥
None of your comments and points are new, but you explain and present them extremely well and in a fool-proof manner. If folks do not "get" it after watching your video, then they are beyond hope. Great work. I fully agree with all the "reasons".
Another great video! Love them thanks ,
I totally agree with everything you say. I’ve always been frugal, but now environmentalist this is a huge factor to be mindful of what you buy and need.
This is THE video to watch...captures the critical parts of the message succinctly, articulately and profoundly.
I love your content! Great message!
Thanks for the reminder. Constantly battling my consumer habits.
Great great video sir!!!!!! Thank you 🙏🏽
very well said👍👍👍
Great content!
Whats funny is people complain about cost of living etc
But when you go to shops or malls people are spending lavishly on eating out, new tech, clothes and other leisure. Don’t even get me started on how many new cars I see on the road to work 🤦♂️ when I was younger getting a takeout was a once in a while thing and most people had used cars
Thanks. I’m loving your conversations. I’m learning and feeling motivated
Love your videos! Totally changed my mindset 🫶
This is a great video and advice is on point- the only issue is many that watch it and say ‘Yes, I understand’ and will continue to make poor financial choices. Sometimes, you just can’t make people understand.
So informative. Binge watching your videos while working from home.
Great video man!👍
so right about the "treats" part - it stops being meaningful when you start increasing the frequency inadvertently, also it can get very unhealthy and leave longterm damage ..it's the little habits, the little acts of laziness that accumulate and damage longterm, it's when you start browsing e-shops or buying a burger on the way instead of cooking, or when you think buying something will make you look younger or seem prettier instead of for example doing excercise or simply eating right .. it's easy to say than to do though, I dont want to be harsh with myself either but the mentality of "treat yourself" is definitely not the opposite.
Love this video!!
Great video - I've read a few books on the psychology of money, and you really nailed all the big points.
Love this: "Selling your soul for a pinecone with glitter on it"
Thanks for shearing your knowledge bro!! Awesome video
Thank you for your clear observations on The Man. People have forgotten this and it needs to be repeated.
My favorite parts of this vid was Christmas every day and contentment. Haven't heard anyone talking about these. Great job 👍
Dude, your video rocks!!! Thank you for services.
Brilliant commentary Austin.....sheer brilliance and truth. thank you Sir. You're wise beyond your years.
Are you single? You are gorgeous!
6'6", blue-eyed and handsome asking.
Austin you crack me up. You are very right about why people are broke.
Glad I could make you laugh!
Hi Austin, I just discovered you and I am delighted with your channel. You tell so much truth that resonates with me. There are so many things that I would like to change on a daily basis and your channel is the right place to be!
Right on, Toni! I'm glad my videos are providing you value and I hope my future ones do as well!! Best of luck on your journey!
Awesome video!
A new pair of shoes definitely do make me happy…but I would never go into debt to buy them 🤔
I loved this video!!!! This! This is what everyone should know and learn!!!
Wow, I really enjoyed this, it’s so helpful and totally accurate
One of your best vids yet..putting aside to re-watch every now and again. Greetings from 🇦🇺
Muchas gracias!!!
Thank you for making these videos🙏
Thank you for watching!
excellent piece this my friend so very true glad I watched this 👍
I just found your channel, subscribed, and am binge watching/listening. This kind of content reinforces all my life decisions!!
Spot on. Love your videos!
Glad you like them!
I just read an article on CNN about how people are annoyed that the price of lunch has gone up since going back to the office. Hmmm if only there was a solution to this problem!!!
Bring your lunch
If only!!! Haha!! Great comment Jo!
Thank you, what a fantastic video
SUBSCRIBED 👍
Man, we are thinking exactly the same 😂 thank you for good postings / A