Best way to start your first business is just to start it. Get an idea, start promoting it, get your first client, make your first mistake with your first client, get your feeling hurt, get over stress and anxiety and keep working.
Hi Nischa, I'm in my last twenties and luckily I started focusing on financial education at this stage. I'm also having a plan to achieve my financial independence, most importantly to have the choice to do the things I value the most. I really appreciate the knowledge you share through your videos. These days I'm reading the "4 Hour Work Week" book because of your recommendation and it is teaching me important lessons. Just want you to know that you give so much to society through this channel. Keep up the good work! Waiting every Sunday to see a new video from you. Much love, Erandi from Sri Lanka.
As a newbie in the Investing and finance world, I'm so happy i've found a content creator who shares such great information, and is a woman! (I see mostly men creating content in the finance area and while their content is great, I'm really glad I can also look up to successful women in the same area of expertise 🙌). My point is, I'm really glad I found your channel Nischa, keep creating such great videos 🤍🌟
Nischa picks up key points from the book and provides commentary very clear and crisp. She is a master and very relaxed way of saying make it easy to grasp. You are the Angelina Jolie of youtube. Keep going strong!
Just like to say that I love watching your videos, Nischa. This has become part of my Sunday routine every week. Very informative and in a language we can all understand. Long may they continue.
Great lessons, thanks for sharing! #3 reminds me of one lesson which hit home in the book "The Millionaire Next Door." Specifically it's the lesson of people who know how to keep the money they have amassed vs. those who only know how to lose it. Plenty of millionaires wear bland clothes, drive used cars and shop at regular grocery stores. This has helped me not waste money on things that won't bring me returns. I appreciate you bringing up a similar point, it reinvigorated my desire to use money wisely!
#4 money buys control 🙌🏼 That really resonates with me too and is what I’ve been working on since the start of this year. I’m making sacrifices and making my money strategically work for me in order to create the life I want moving forward.
#4 resonates with me. My current job is demanding in terms of time and energy, so I'm going to take a step down and do a simple 9 to 5 so I have time to spend on hobbies and with things that matter. I'll lose some income but I believe it will be worth it.
I remember when my dad died, I cleared the mortgage. It brought back something he'd said years before. We'd discussed it and he'd said, yes not having to spend the money was great but the fact that nobody could take away the property was infinitely better.
So good. There are invaluable lessons in this book and it’s made to be digestible by anyone, even those with little financial acumen. One of my favorite quotes from the book is a poem: A wise old owl lived in an oak, The more he saw the less he spoke, The less he spoke, the more he heard, Why aren’t we all like that wise old bird?
The best description of wealth I ever heard was 'choices'. To get to a point, financially where you decide what you choose to do with your time. The only actual commodity we have is time and money should be seen as a tool to allow us to structure our time in the best possible way.
I read that book earlier this year. However, I did not get enough out of it. I perhaps read it too quickly. Your video has inspired me to go back and re-read it. Thanks Nischa!
Great analysis as always! And you picked an incredible book...I've been giving this out to friends over and over. And it applies to so much more beyond just money and investing.
I thought I’d comment and just say thank you, I have been watching over your back log of videos for the last 2 weeks and it’s really opened my eyes to my finances. I have always been a hard worker but never really seemed to see benefits of that as time has gone on
This book is an eye opener for me......and a few important lessons i learnt are: 1) No one is crazy, never judge any one from their financial condition 2) Save more so that you can create more wealth through the magic of compounding
Thanks @Nischa. Great content as always. I spent the first 40 years of my life, overspending on a flashy lifestyle, material possessions, relationships, mansions, holidays, cars, blah, blah…all in a vain effort to gain validation and approval. It was an exhausting hamster wheel that led to very little fulfilment or contentment. COVID and the lockdown brought matters to a head and I had to face some home truths. Now, I have reverted to a far simpler lifestyle and try to live through a sense of appreciation and gratitude daily. It’s not a magic wand and will take daily practice but…let’s see. I also gave away 80% of my wardrobe to charity shops, which felt crap at the time but life is much simpler now. Thank you for your great videos and useful content. You have a similar presenting style to Dr. Ali Abdaal. 😊
Hi Nischa, I do love listening to your videos as you’ve got a lot of enthusiasm and I’ve learnt a lot from you, which I have put into practice. Looking forward to your next session 😀👍
I haven't read that one but from your synopsis I would recommend reading The Millionaire Next Door and The Millionaire Mind which I found comprehensive and compelling analysis of the wealthy and their habits and mindsets.
Something I hold on to dearly, the lessons are very contrary to what a lot of financial gurus preach on RU-vid. It aligns very well to my own values - save more, need less, and teach yourself to be able to be content with enough 🙏 Great summary!
Thank you for your content. Excellent. In recent years I have gone through many awakenings. Most of these awakening could not be achieved without read books.
I am somewhat an introvert and I value my freedom more than anything and as sad as it is to admit, an abundance of money gives you that freedom. So even though there is a threshold of money for happiness, after the covid restrictions and the pandemic I think it is more important than ever to have money/systems in place for you to own your own life regardless of happiness.
Great video Nischa. I 100% agree with what you have said. In a small way I have focused on my wealth goals in lieu of prioritising those things that really matters, such as my marriage.
Thanks so much for making these videos, Nischa. I am learning so much from you and am working to save money on shopping and increasing my revenue streams. Keep up the excellent videos!
I lean towards a sustainable amount of travel overseas to very difficult cultures on a frugal budget (and better yet, with a remote part time job these days). Sure we have the internet to provide a glimpse of digital travel, but the in-person culturing of the mind and spirit is a powerful investment in the early self curiosity and adventure that can inspire a more bold explorer of future endeavors with the confidence of having traveled young (or at all).
The youtube algorithm is recommending videos like this to me. Either I am doing something right, or I need to adjust something. Refreshingly great content content all around.
Thank you for recommending this book. I read it and couldn't stop reading it. Some chapters were hard to digest but overall, it changed my mind about how I see investment and how to prepare for it. Along with that the story comparison is great to see
It's a great book, and we've spent a long time delving into a thorough interpretation. Regardless of the changes, human nature always remains constant.
Rich is silent- as in its subtle, poor is loud. i made that up but i think it fits lol. Nice video...definitely sharing this one with my daughter. i can hear now already...dad i know i know lol
I believe the purpose of reading this book is not to take it as a guide for financial investment but to use the concept of investment to convey wisdom. Understanding oneself, self-improvement, and making oneself deserving of more wealth are the most important aspects.
God bless, you talk sense in time of insanity, You are honest, simple to the point. You look simply down to earth, yet gorgeous and gracefull. Thank you.
What a great set of rules for a young person setting out on a path of life wealth. I learned these rules the hard way finaly having the correct mind-set in my mid 50s. Another great video of the many you have produced, but where did you get all this knowledge from so early in your life?
I agree, most of it is about phycology which is why it's easier for rich people to make more money (apart from the obvious of having more funds to do so). You have to be willing to risk loosing it which is scary when you don't have much of a safety net. If rich people loose money it was a bad day, when poor people loose money it can be life changing.
I bought a bicycle. It was mid range price wise. However I considered it an investment in my health. After a few years I am now the fittest I have ever been. Best ROI I ever had👌
The price I am most conscious of paying is Time. When buying a service or product, I look at the cost, the time it will save me based on my current routine, and also the time it will take to actually use the product or service. The other thing I consider is Stress, as the reduction of stress in my life has become more important in recent times. I have now reduced the time I spend around people who cause alot of stress, and have reduced the time I spend on activies which can cause stress.
The first 2 principals I knew without reading this book. I knew that whatever you obtain in life there is a price to pay for. So for me I like being single because having a family will only take away my time do things on my own. The second principal is you can’t imitate someone that’s fallacy. You learn from someone but you are a unique individual & you need to know this. The fact Bill Gates went to a school at time with a single computer trigging an interest says all you need to know. It’s about timing & chance.
Hi Nischa. Been trying to find the right video to post this under. What should I do with my bonus? Put it all in savings, invest all or some, pay off bills/debt, spend it?? Would love to hear your thoughts on what to do with bonuses or the return of rental deposits. Or if you've already addressed it, if you can tell which video to watch! Ty.
Love your videos, Nischa! Can't imagine a Sunday without your videos anymore. Will you be making one related to property investing? If someone does not have a lot of capital and is just starting out, can they also invest in property and build equity?
I just got this book and I have not read it yet.. So thanks for sharing this I will definitely come back for more questions if I have any. I love what you said about bill gates so true, focus on the availability of opportunities..
