I've been basically binge watching your videos for the last two weeks. There are so many helpful tips, so much inspiration and motivation to finally deal with my finances in a more serious way. I really want to thank your for all the hard work you've put into them and for letting us learn from your experience and knowledge. You've built something special here!
I agree. One can add value to life by taking more holidays, rather than renewing ones car, for instance. Both involve spending money, but holidays enrich the soul. The mind always wants more & can't be satisfied.
I love spending on experiences rather than on excessive clothes or shoes until I realise I have nothing decent to wear to work or to workout. Great video as usual.
Yep. And I find experiences (holidays, day trips) tend to be much more expensive than buying things. I’d rather have an extra pair of nice shoes to enjoy every day than a trip that costs double the shoes and is over and done with in a day.
@@creative45630this is what I thought as well. It's due to Inflation and hopefully will improve :/ but for now it's stuff and free experiences such as a walk
@@creative45630 Agreed. The narrative being pushed now is to spend on experiences instead of things. You are still spending. Everything should be in balance with your budget. Live within your means and you will be financially happy.
I definitely believe in spending on experiences rather than material things. However, I also believe that if a material thing genuinely makes your life easier and more efficient then it’s worth the buy.
I do following 1 use public transport mostly. 2 always plan my future purchases 3 Spend on good food habits and a hobby i have 4 Save rest of my income.
It would be amazing if you could do a video about furnishing your home in an economically-friendly way! Or perhaps something on life-style habits or how your environment (home or work) can help you financially? Love your content Nischa! Thank you
These are great questions. When you talk about furnishing, what specifically are you trying to do? Is it like trying to have a nice living room while not spending too much money?
I really like your videos and am trying to get my kids to watch them. I want them to have this knowledge at their age (18&15) unlike me who didn't have the same easy access to information at such an age. Thank you for spreading the word!
Saving with a purpose, or meaning, is the biggest game changer. Mindless savings is hard, and quite frankly, dumb. But once a purpose is attached, it’s a huge motivator! Def recommend!
There is NO such thing as 'mindless saving'. You don't need an attachment, or a reason to save based on someone ELSE'S approval or attempt at a standard
I've just been made redundant, I feel pretty gutted at the moment , but it's a good thing I've got an emergency fund, something I didn't think of doing until watching this channel, so thank you. 🙏
First tip was actually game changing for me. I stopped buying pointless tech items and clothes, and within under a year I cleared any credit card debt and saved half my deposit
Same story with you, Madam, I SLOWLY downsizing all my stuff, which is NOT anymore relevant to my needs, Thanks for the heads up, from the Philippines with RESPECT, Cheerz
I like to invest in interior decoration because I actually pay attention to it every single day. I actively enjoy my home environment every single day. But the things I don't actively focus on every day aren't really that worthy of spending money on.
Hi Nisha, love your videos. Can you do a video for aging fools who partied into their 40s, bought a house very late in life, are still mortgaged at 60 and have no pension!!! But are freelance and earn good money - for now! X
I love your videos! They are articulate, smart, expressed well and clear! Thank you! (Also, you should know that you always look so good and well put together.) Keep it up!
Really nice video. BTW I can't sign up for the workshop. The link works, I just can't click on the name and e-mail boxes. They don't seem interactief but more just like a picture
I am guilty of spending more on objects rather than experiences but i love how you analysed it and made it clear how experiences can be better. I guess sometimes i am too pessemistic that I wont enjoy things so objects seem a safer bet but I need to work on that outlook.
There is a big caveat on buying things! It's referring to buying good quality tools that you can regularly or you can use them only once in a while. You see, there is a big difference between having 5 Prada bags or having a good set of wrenches.
Hi I just wanted to say your videos are really helpful, as a teenager it's really good to learn these things in early ages since school doesn't teach us these things . I just had a question do you guys need to pay tax on your savings too I just don't know about financial law of western countries
Neither my wife nor I like holidays very much. Being stuck on a motorway or in an airport is hell on earth as far as we are concerned. The whole 'buy experiences not things' philosophy seems to revolve around going on ever more exotic trips. This should not be followed simplistically. Experience like growing your roses, seeing your friends and family, going for a country walk are far more satisfying for us. Having said that, we traveled constantly for years during our prime working life so we may be slightly different. I guess my point is that everyone is different and "experiences " are not necessarily for sale.
Nischa - your advice to pay yourself a percentage of your income first has been game changing for me. I'm using this method to overpay my mortgage so thanks very much! 😊
Circumstances are incredibly important as well i.e when saving for a house you have to get serious otherwise you won’t reach your goal. The hardest part for me is when you save to spend on house renovation meaning you do not have anything left for experiences or material items 🙃
I get both instant and delayed gratification from us being able to save my whole salary and we manage to live of my wife's salary (she earns less than me).
Meaning around the saving -- true! That's why I use this online bank that compartmentalizes which saving account is for what (e.g. household items, birthday gift for mother etc). Good advice, Nischa!
I disagree. In my early life I could not afford anything, now I smile because I can afford stuff. Buying collectable antiques that can be resold to release capital is wiser than an expensive holiday.
I used to buy a lot of clothes, way too many. I got depressed and gained weight and had to buy some more. I had debts that I stopped paying. One day I bought my dog and everything changed. I walk her a lot and I have less need to wear chic clothes. I joined the sport and lost weight. So I can wear the clothes from before. I only buy what I need and in two to three years my debts will be paid. My second son will start his studies in two years and his school will cost ten thousand euros per year. I have to figure out how I'm going to pay for it. Thank you for your video
I really like all of your videos. They are all honestly very good. I absolutely loved your video about how to invest 1000$. Even though that question is not relevant for me, the video really showed that you are honest and don´t just go for whatever gets you the most clicks. Which is what most finance YTers do. Keep up the good work! I wish you all the best in your endevours!
Nischa....I love cars😢 but every video I watch on wealth building (including yours) says cars are the #1 wealth killer. So whats a man to do? Could I use a nice car as motivation to save (and to start a side hustle) so I can pay cash for it outright? Or is buying a nice car one of those guilty pleasures that can never be justified? For me no travel experience, or owning a home or even blasting off to space beats the thrill of a gas guzzling sports car!
What sort of car do you like? There are certain performance cars that hold their value or even increase in value over time, plus the markets strong atm. Worst thing to do is buy a brand new car that depreciates fast, for example a Vauxhall Astra. Buy a 3 year old Astra at half the price and halve the monthlies. Simple
@@C63Bez I went with a Nissan 370z then upgraded to a 2013 Nissan GT-R! According to kelly blue book they hold their value fairly well. I live in South Asia so we don't get Opel but I get your point ....
@@philipdeacon5186 when you do a 0-100 in 2.9 seconds like I do in my 2012 Nissan GT-R.... yeah it had a drug like effect on you. I bought hair clippers to cut my own hair so I can save on salon costs to pump my ride with premium fuel
@@bigdarshan hahah good man well that’s a car that won’t depreciate a lot but probably has high maintenance costs, but if you’re a petrolhead then it’s worth it I bought my c63 for less than I sold it 3 years later after putting 8k miles on it
Excellent video, I constructive suggestion, pace yourself and speak a bit slower. This may help non-British native speakers lol. I've always loved your contents. I have found it easier to save making a direct deposit to an account that I dont have access to If I don't see the money, I dont know what's there... PS There is always the replay button for me 🙂 Your channel is growing like wildfire.
Experiences can be overrated too. The money I’ve spent on ‘experiences’ that had great reviews but I found underwhelming, like trips, restaurants etc - vastly outnumber the money I’ve ‘wasted’ on stuff.
I beg your pardon in order to round it up and make it really useful and complete. How much were you earning in that job you were doing just to earn? Only the real figure and the living conditions around you give depth and meaning to your disciplined reasoning. For example, if you were earning 1,200 GBP = impossible. If you were earning 2,300 GBP = a bit more likely IF no emergencies. Did I explain it clearly enough?
The whole "Things vs. Experiences" argument bothers me. Some people take more joy in one or another. Both can enrich your life or land you in debt, if taken to excess. The point is to live within your means, and use either things, or experiences, (usually a mix) to add joy to your life within your budget.
Hi Nischa, Could you do a video about bringing different pension savings, together or not. I have many smaller company pensions but am trying to consolidate in one. I am not sure if this is the right decision. Please advise
enjoying having stumbled across this channel , but you need to distinguish between being an informed evangelist entrepreneur or an exploitative entrepreneur or the salaried office holder , they are very different roles. Just investing money is simple.
I have a simple saving pycology, its a waste of effort if I work for a month and I don't have anything to show for the work,so Savea portion every month
Wonderful post and great content. Another big benefit of experiences is that they don't take up space. Having moved from one house to another recently, dealing with clutter can be just a big hassle. Especially when clutter involves large items that people don't necessarily want like furniture. Physical assets are a hassle. Even giving them away often costs time and effort to find someone willing to take the item.
I save via gold each month 10 to 15% of salary... If needed I can turn it into fiat trash currency in 48 hours but not being in an easy access account helps to save and it is an enjoyable way to save 👍👍👍🙌🙌🙌
Just an FYI.. that's a terrible idea. Gold proces have averaged a 4% increase over the past few decades and barely meet inflation, whereas the S&P 500 averaged 9%.
@@charlotteh8174 so typical to judge... I also have index funds for longer term and premium bonds too.. I got in on gold between 1400 to 1600 and it is at record levels right now... And if that money had sat in my bank account it would be spent on crack and hookers by now.. Yet it is now a tidy sum.. Yeah really "terrible idea" FYI.. Could be worse could have left it in metro bank 🤣🤣🤣
1. Dont save what remains after spending....rather Spend only for basic human needs and 2. Invest in a fix deposit or certificate of deposit tgat can be compounded forever....Use compiund interest calculator.... Once u see the longterm yield..no one will teach u to stop wasting a dime. You will know what a dime becomes if well sown. 3. Reduce giving too much..give but give to ur future and peace of minf too. 4. Check ur recurrent expenditures and habits... Dy take money extra-massively 5. Stop trying to please everybody and ask if u are being used or u are kind.🎉🎉🎉😂😂 May we find Grace to grow in Health, Wealth and peace. Amen.
First of all I have been a saver for my whole life, but nowadays I have a different approach. If you don't have money you cannot spend it of course, but other than that I don't see what's the difference in dying poor or with a million $ on your bank account. You can leave that million to your heirs who are going to splurge it anyway. What makes more sense is instead learn how to manage your money. For instance, saving for the downpayment of a house makes terrible sense, but you're actually planning to BUY a house, not to save indefinitely. Another thing that comes to my mind is having an emergency fund, e.g. six months to survive without income. Some money should also be invested with a clear goal. Other than that I don't see the sense of saving.
I absolutely love your videos. I never really invested any time in learning about these habits and finance in general and I paid for it big time. I was running a small business without tracking anything and before you know it everything came crashing down. I’ve restarted everything and I am now investing a good chunk of my time learning and applying good financial habits.
I basically cook and freeze and meal plan. I buy the bigger bags of items because they’re cheaper and then batch cook and freeze. Each morning I’ll take meals out of the freezer for the evening. Things like lasagne, shepherds pie or curry. Things I’ve made in advance. It saves time when I’m busy through the week. It does mean spending a couple of hours doing it all, but there is only one ‘mess’ to clean up too. I’ll often chop salads for a few days for lunches too. Before I meal plan for a week I check the fridge and freezer and see what food needs eaten and plan round that. I don’t waste anything. I also check what’s on offer. For example if it’s peppers I’ll buy those and do stuffed peppers and add them to curry etc. it does take some though, but becomes a lot easier the more you do it. Good luck.😊
Love your content.. You are smart articulate and full of wisdom. .Binge watching your content and sharing it to my family. You’re channel has grown so much, from last time I was here. keep it up, well deserve success.🎉🎉
