10 life-changing personal finance lessons.
Discover 10 personal finance lessons that transformed a broke college grad into a financially free adult.
00:00:00 Learn how to make great YouTube videos, from scriptwriting to editing, and gain confidence in your content creation journey.
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00:01:26 Discover 10 personal finance lessons that transformed a broke college grad into a financially free adult with a healthy prostate.
Personal finance has the power to completely change your life.
There is a lot of terrible finance advice out there, but I found some strategies that actually worked.
Income isn't everything; cutting back on expenses and overall spending is crucial for financial success.
00:02:53 Learn 10 personal finance lessons to avoid lifestyle creep and increase income. Save 20% of your income and diversify with freelancing or consulting.
💰 Lifestyle creep is when discretionary spending increases as your income does, leading to living paycheck to paycheck.
💰 Setting a percentage of your income aside, like 20%, and pretending you never got a raise can help pay off debt and save money.
💼 Diversifying your income through freelance work or side hustles can significantly increase your earnings over time.
00:04:16 Learn how to make a living freelancing and invest in personal development to increase your value to employers and clients. Investing in the right education and resources pays off.
💡 Anyone can make a full-time living as a freelancer by utilizing their marketable skills.
💰 Investing in personal and professional development can lead to increased value and financial returns.
📚 Investing in education, tools, and resources can result in significant returns on investment.
00:05:35 Learn personal finance lessons to change your life: accept all work opportunities, reduce rent by living with parents or roommates, prioritize savings over unnecessary expenses.
👍 Don't be picky about the work you take on in the beginning of your career or business.
🏠 Consider moving in with your parents or getting roommates to lower your rent.
🛒 Avoid buying unnecessary items and prioritize saving money.
00:06:52 Learn how to improve your personal finances by tracking your progress and being mindful of your spending habits. Patience and determination can lead to long-term financial success.
💰 Stop buying unnecessary items and prioritize saving money.
😊 Consider the long-term impact of big purchases on happiness and contentment.
📊 Track your progress and prioritize paying off debt to achieve financial goals.
00:08:05 Learn 10 personal finance lessons that changed my life, including the importance of gaining a bird's eye view of finances, reading personal finance books, curating a positive social media feed, and celebrating progress.
🔍 Get a bird's eye view of your finances to understand your financial situation.
📚 Read personal finance books to gain knowledge and stay motivated.
🚫 Unfollow negative influences on social media and curate a positive feed.
🎉 Celebrate your financial progress and enjoy a balanced lifestyle.
00:09:28 Learn personal finance lessons like setting milestones, celebrating wins, and becoming financially free.
🎉 Celebrating milestones and rewarding yourself along the journey gives you motivation to keep going.
💰 Becoming financially free requires patience and perseverance, but the payoff is worth it.
🚫 Be cautious of the personal finance advice you receive, as not all of it is reliable.
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