Personal finance: How to save, spend, and think rationally about money | Big Think

What was your favorite personal finance tip from the video?

I hate borrowing money unless it’s to my advantage. I got a really low car loan rate and financed my suv 100% while the cash for the car was making me more via investing. I paid cash to buy my retirement home. I pay off credit cards monthly. I save for home improvement projects and future car buying (I don’t see interest rate going to be 1.5%).

Nobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals....

This was beautiful. Thank you.

Aren't the ones that own over 80% of the wealth the minority don't they do very little if any of this is only applies to the majority of debt slavers?

Why are there seemingly so many fake comments with thousands of likes, with the same fake discussion going on in the replying comments that lead to this or that financial advisor? Are some people really this low in quality?

This video was excelent.

I'd be retiring or working less in 5 years, and I'm curious how others split their pay, how much goes into savings, shopping, or investing; I earn roughly $250K per year but have nothing to show for it.

Thinks you own end up owing you

Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking the bold steps we need in other to reach our goals.

Deciding to watch this video terrified me 🥹🥹

I hold enough in the bank to pay bills. Everything else goes to assets

I have less than $5,000 in debt. I make just short of $90k per year. I pay $400 a month in rent. I have lots of cash put away in my 401k, savings account and in retail investments. I still feel extremely poor.

RESIST THE SLAVE MIND

Im going to be rich

Why think rationally now though? Nothing is rational in life anymore. We have alternative facts and endless weather extremes that everyone shrugs off.

There is an incredible lack of salient information across the 15mins of this

Such a powerful video to manage our personal finance in an efficient way. WOW

As an elder millennial, one of the few advantages is having lived through the Great Recession. My advice. Reduce unnecessary expenses, increase your savings by investing in financial markets and do not sell. One thing I know for sure is that diversifying your income can help insulate you from much of the craziness going on in the world.

After I graduated, I realized school taught me nothing about money. Then I found the book ‘the Richest Man in Babylon’ and learned everything about money that I was not taught. Also started watching videos like this. Lots to learn!

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market

This prescriptions is good just for Americans, or an iper-consumistic society.

Children don't need money!!!

Considering that most Americans live pay check to paycheck…acquiring debt to survive is inevitable. Whether it’s credit card debt, payday loans or whatever. And if they’re acquiring debt to maintain survival, feed their families, etc…saving money isn’t feasible or possible. Not to mention student loan debt, car loan debt, etc, etc

The elephant in the room is the living wage is piss poor, inflation is thru the roof, and the value of the USD is as low as ever in history. Until those issues are resolved…most Americans will never be able to achieve financial freedom.

I want more of that. Need more finance advice!

Debit cards no benefits, no interest no discount benefits. Credit cards are the better option but they are not for everyone, as i am sure everyone who is here for advice lacks the discipline required.

Broke

What a stupid video...

I used to be okay with money. But I had a series of head injuries and I now struggle with time and money constantly. I cant help but forget they exist at least a few times everyday. Honestly, in this world? Its a nightmare lol. My community is small and largely refuses to help me.

What was your favorite personal finance tip from the video?. What was your favorite personal finance tip from the video?.

🤔: If a relationship is a 2way street How can one have a relationship with an inanimate object?

This man almost sounds like winnie the pooh

Idk why we say we don’t teach kids about money. Didn’t every kid hear about the stock market and to save your pennies.

Money might not give you happiness but it will give you options to find happiness

This is incredibly condescending couldn't even do 5 mins of this

great video, thanks for sharing

“Don’t get into debt” “6 months of emergency savings” - let’s listen to these old middle class privileged people tell you how money works… this is an awful video

As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have about $700k amount of capital to start up but I have no idea what strategies and direction I need to approach to help me make decent returns

I liked all of it, well structured information, concise and engaging. My favourite was the correlation between "stuff" and happiness (that is, there isn't one). It's obvious, yet at times we miss the truth under our very nose.

I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.

Your activities and hobbies with other same crazy people like you - make you feel happy.
Great idea, thank you!

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

The financial system has been artificially pumped for over a decade to ensure big pockets were lined; and now those same hands will make a fortune in the largest transfer of wealth in human history by shorting it on the way down. Inflation does have a roll, but that's to keep everyone panicked, and focused on their bills and expenses, rather than focus on the capital crimes of politicians and corporations,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market??

Money is possibilities. No money - no possibilities

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.

this is neoliberal bullsh*t... people are born in dept, people are born in super rich wealth. the society is super unfair and people are supposed to work for money. property is a lie. property is a construct. everything belongs to everybody.

Life is weird, beautiful experience when you step back and look at it. Grateful to be here with you all, working with a financial advisor could truly set you up in life. I’m delighted to contact a financial advisor earlier this year because while others were busy whining about the downturn I was busy cashing out from my investment, finally making over $370k for the first quarter of the year.

This is a 90% bullshit with 10% obvious truths.
People watching this crap from all over the world, but true is that so called investments and complex percentages are accessible to very small amount of population.