Hey! I'm Nicole. Welcome to my channel. Here we talk about all sorts of things including minimalism, personal finance, side hustles, simple living, lifestyle design, self development, and more. A new video drops every Sunday at 10AM est. I hope you stick around!
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I bought a new car a year ago, electric vehicle. Having a 45 min drive to work and no public transport, I paid for the security. Half in cash, half in loan. I will pay off the car in full in September. As long as one has a plan, do what you choose. After September, I will invest the money I used to pay in loan. 🙂
Feels awkward hearing this while I have two Teslas. I know that sounds like I'm exactly who you're speaking about, but I bought both used and for under market value. My wife and I love our cars and intend to keep them for at least 10 years. The cost difference in gas really helped me as I commuted 50 miles per day with a vehicle that took premium gas. I'm at 75k miles on my Model 3 and have had zero problems. As long as you aren't flooring it all the time, tires last plenty long (~40k miles). The insurance was comparable at first, but over the last three years, it has really shot up, which is very frustrating.
Thx Nicole. Your content confirms my suspicions. I am finally getting out of the consumer rat race that prevented me from doing the things I truly love. Subscribed 🙏🏼
I experienced that a long time ago. Bought a 6 year old Mazda6 for about $6500. Paid it off in 2 years and drove it for 9 years. Having no car payment for 7 years was great, but that car did have a few things break that cost some good money (motor mounts, clutch, etc).
Hi Nicole! I would be so grateful if you would explain what a person who has an upside-down car loan should do, IYO. I'd love to buy a used Honda Civic or Toyota Corolla at this point, but I've taken out two loans against my car (for good reason pertaining to my children's education) and now I'm under water with about $13,000 left on the loan, and a Honda CR-V that is worth only about $9k USD. I wish I knew how to do the math around trading it in at a loss and then getting a cheaper car, but I don't even know how to Google "how to do car loan math," because I don't know what the actual search terms should be. Can you help, please? Thank you for all that you do!🤗
Hello 👋 Nicole I have 2 Passive incomes and 1 Active income Job For Emergency Funds and Monthly Expenses 😊 I Save Currency 💵 Then Invest in True Money 💰 Gold Bullions 😊
I have always bought a new car but I keep it a long time. My last car I drove for thirteen years. It was still running perfectly and the only repairs were to replace the starter at one hundred thousand miles. That was a Toyota Matrix. I also had a Ford Escort and another Toyota and drove both for ten years each only replacing timing belts. I enjoy your no nonsense style. But I used to eat out a lot and wish I had invested the three to five hundred a month I wasted. 😮
Used furniture is the way to go. You can sometimes find really good deals on used quality furniture on craigslist, FB market place, etc., especially if a rich person is selling it. For example, before moving, I had a really nice computer desk/hutch that I bought for $200 that is priced at a few grand when new. Some dr. in a boogie neighborhood was replacing it with something better, and basically just priced it to sell quickly.
Be careful when you roll into that auto maintenance shop for an oil change, they will be trying to upsell you a throttle body cleaning, fuel injector cleaning, air duct cleaning. You don't need that stuff, only get the stuff that really matters, don't get buffaloed with the high pressure salesmanship. Their #1 job is to make as much profit off of you as they can. They call it good ole capitalism or they have a business to run.
Being in the right time and mindset, I recognised an investment opportunity, and went all in. The investment was something that I fully believed in and knew would be a once in a lifetime opportunity. I knew if I waited, I could probably get in at a better price, but the fear of not being in far outweighed the short term benefit. I kept putting everything I had in for 10 months while the price dropped 60%. I never doubted that it would be a good investment , and borrowed more and more to keep putting in at the bottom. I had a price chart I found of future price going out 15 years, and could see that it was at the bottom. I was so confident, this was the opportunity of a lifetime, I asked my wife if we could sell our house. Of course she refused. I contented myself with knowing I had done everything within my power to make the most of this opportunity. We were living on credit, but had equity in the house. The bank would not lend me anymore. My income average over the past 15 years was about $65k, my wife earned the same. Our debt was $420k. When I contented myself with having done all I could to invest I was happy to think this would pay off my mortgage within the next three years. It bounced off the bottom and began rising. I then came into an inheritance two years after I started investing and put it all in at a higher price than I originally started with. I know how it sounds that I didn't pay off the mortgage with the inheritance. Crazy right!? But I was so sure (and still am) that this was a once in a lifetime opportunity and would change the course of future generations. This all started in Jan 2022. It has kept following the price targets that I found in the chart, and I have learned a lot about the asset over that time and found a community of similar investors who are all in on this one asset. I am now estate planning for future generations, and generating a Plan B should government turn on its people. I still drive the same car, wear the same clothes, and live the same lifestyle. I have never been happier.
Start early with diversified investments in stocks, bonds, and real estate. Maximize contributions to tax-advantaged accounts like 401(k)s and IRAs. Regularly review and adjust your strategy to ensure security.
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
You are absolutely correct, my only thing is that if you have a new job in a different city you are going to need a quality automobile which might not can be purchased out right. Personally I want an ev in tandem with with home solar power system so I don’t have to pay for gas
I’m not a pet lover, but an also not a pet hater. I moved to US from Europe and it’s still surprising to me how many people here treat animals way better than other humans.
your sales tax movements, here in the U.K. it’s VAT tax. Only the end consumer pays the tax. The materials bought and turned into a product, the company completes VAT returns and gets the tax back. This is what I do for a job,I work in an accounting practice completing people’s VAT returns and well as other stuff.
The best way to buy a $100,000 truck (or car) is to save that money (argh!), invest it in high dividend paying stocks, such as ENB, get a car loan with a rate less than what you're earning from the dividends (tricky but possible), then use the dividend payments to cover the cost of your vehicle. This is a hassle, but it can save you 0.5%-2% per year. 2% is significant, 0.5% not really. Easier to just pay cash for the vehicle. Most people can't do that, obviously.
That even works with „shiny“ cars. Bought an older, used Mercedes E350 in cash. Ran smoothly as hell for the last 7 year and I plan to use it for at least another 7. 😊
This video hit deep, i'm brazilian and is the 3ª world, i work 44h a week for 6 reais a hour what is about 1.20 dolar a hour, is very hard to have a perspective in life.
What I find irritating, when I buy something cash and not on finance, it’s zero % finance why don’t you. What a stupid question is that. I don’t understand why a lot of people think that way. I like to just buy it straight out and not have those monthly payments.
I don't think I've ever been ghosted (except by bpd girlfriend, not sure that counts, bpd people ghost everyone sooner or later, usually multiple times, they're like Vin Diesel in Pitch Black for ghosting mo-fos), although I have 'ghosted' people, I suppose you could say. You're right, it's not you, it's them, it's always for some outside reason that's going on in their life, and a lot of people (like me) really just HATE confrontation. They don't want to tell someone "Hey, I don't want to talk to you any more", just the idea of having such a conversation when you're already mentally fragile is appalling - in my case it was related to my alcoholism and depression. Long story short, I felt a bit betrayed by a group of drinking buddies - not all of 'em, but one in particular. So I stopped answering their calls. Mistake? Maybe. I miss some of them. Some of them I don't. I could have handled it better. I suppose I've ghosted all my friends, I did have some, but now I barely communicate with any of them, I remember when I was in high school my best friend said that if he had to pick one word to describe me, that word would be 'aloof'. And this was before cell phones and facebook and google knowing your geo co-ordinates every minute of the day. There's an episode of Seinfeld where Jerry tries to 'break up' with one of his male friends, and he just can't do it, it's too difficult. It's easier just to let these things drift, especially for men.
I'm a software engineer. One would think I would want the "latest tech". I did recently buy a new-to-me laptop - one that had the specs I wanted, but was a refurbished laptop that was much cheaper than a new one. The laptop I replaced was one that I had for about 10 years. I only replaced it because it was getting to be noticeably slow after successive operating system updates. My phone is one that I've used for maybe 4 years now, and I see no reason to upgrade.
If it's an only money purchase no one gives a ---- about your car. But if cars are you life and something you love doing acquiring one like you did of a specific model that you plan to fix up a bit, there are specific people that do care about it but not random people for sure I agree.
But all the habits you are telling people to curb is living life the American way. We are encourage to spend, spend, spend. Look at how the country is functioning, borrow, borrow, borrow. The administration is setting an example for its people. Those that can pull away and think differently will get ahead. But those caught in the vicious cycle will only learn (maybe even not) when it's too late. But advertising and marketing is a very strong influence and have a strangle-hold on many.
I buy new cars but I research consumer reports, check costs to maintain, and buy a not expensive model with zero bells and whistles. I just need practical transportation and my car will last longer than “show off and impress” cars. Then I drive my car for as many years as I can get out of it. One car lasted 21 years and I still sold it for $1200 because we were moving and I could not take it with me. The car I have now was paid off in 12 months (not the contract 6 years) and I expect to drive it for many many many years.
I also am debt free, and It would be nice to be able to take out credit cards and close them whenever you wanted or needed to, and not care about your credit score, not even debt-free people need to buy homeowners insurance and your credit score matters for that.
Salary work for me has actually been good. It's very rare that I work overtime. There's flexibility when I have an appointment or errand, there's no verification that I'm making up the time. I most definitely do make up the time, but it's nice not having the hassle of strict time tracking. It's not always a scam, but I can see how salary work can be a scam for many.
there's nothing wrong with <$5000 cars if you pick good lasting ones. I'm on my 11th one. granted i've rid a few, and kept a few. Vehicles are such depreciating assets. I'm still a big car guy and have fondness for them but I have to be sensible enough to not let an unbearable car note take a hold of me. If you do make sure you can AFFORD it; don't say you need it or have to have it
I have saved 14.000 dollars on dog insurance over the lifespan of my 13 years old dog. I have spent 4.000 on vet bills. This philosophy has earned me 10.000 dollars.
