5 Money Habits That Will Keep You Broke Forever

I cover the 5 money habits that will keep you from financial peace.

Tired of being broke? In this episode I cover the 5 habits that will keep you from financial peace. It can be tough these days to manage your personal finances and take control of your money. But by exposing these habits and giving you practical money tips, you can achieve financial freedom!

📖FREE GUIDES📖

💰WEALTH BUILDING RESOURCES💰

🎧FREE AUDIOBOOKS🎧

🌐GET FREE STUFF! MY WEBSITE🌐

▶️WATCH NEXT▶️

🎙️FOLLOW THE PODCAST🎙️

☎️BOOK A CONSULTATION☎️

🛍️NOTI Tribe SHOP🛍️

👋LET'S BE FRIENDS👋

♨️BUY ME A COFFEE♨️

Music In Episode:

Disclaimers: This video and description contains affiliate links, which means that if you click on one of the product links, I’ll receive a small commission. There is no additional cost to you. This helps support the channel and allows me to continue to make videos like this! Thank you for the support! If you'd like to know how to set this up for your own channel, shoot me a message!

[wbaiey]

Im 60 years old, l. Its been that way my whole life. We are programmed to be consumers, not thinkers are bisiness people. Thank you kind Sir.🎉

[keshiastansbury]

Thanks for breaking down how systematically messed up society is for trying to keep us captive in credit and debt. Now that I know where to start aligning myself next step is to learn how to acquire funds as well. Cant wait for the next Funds 101 session👍🏽

[williethomas]

It's even worse for people who don't have perfect credit. That $50, 000 car cost $90, 000 to most people.

[ZoeyCrimson]

I do have to say on the “can’t afford car” part is that’s a nice thought.
If we lived in a better country. A lack of a car in many areas is a lack of transportation and in other areas a lack of good, safe, reliable transportation. It makes everything harder without a car. Employment, getting to employment, going to an appointment, getting groceries to and from home.
If you live in America, then the lack of a car is to become a second class citizen as many U.S. Cities barely even want to make safe crosswalks and proper sidewalks to make it all worst.

[compoundinglifestyle]

🎯 Key Takeaways for quick navigation:

00:00 🚨 *Emergency Fund Priority:*
- 78% live paycheck to paycheck, highlighting the need for an emergency fund.
02:59 🚗 *Caution on Car Payments:*
- Advises against car payments, suggests buying affordable used cars in cash.
05:58 💸 *Budgeting Crucial:*
- Lack of budgeting causes overspending; recommends Rocket Money for financial control.
08:14 💳 *Credit Card Debt Warning:*
- Credit card debt is a major wealth killer due to high interest.
11:48 🏡 *Manage House Payments:*
- Overspending on housing strains finances; suggests house payments under 25%.

Made with Compounding Lifestyle

[alonzofluellen]

Great message families lives depend on good financial wisdom

[williethomas]

Making the minimum payment for a credit card is criminal and nobody should be that irresponsible.

[romeoandjuliet]

Your videos are so good you should have one millions views on this video everyone is poor in this system and broke

[maeb.]

New subs here. Your channel is like a case study. Well done for reaching topics very helpful

[ZOBuccaneer]

Great point at the end about too large of a mortgage making people house poor. So many people just think a mortgage is an investment and justify it saying “I’m building equity, and the mortgage interest and property taxes are tax deductible.” Sure, that may be true (not always though), but so many people don’t look at the opportunity cost of a large mortgage compared to other investments.

[tomlambert]

I have owned 33 vehicles and financed only 3. If you can't even save ONE payment, how/why finance?

[powerthings]

The elephant in the room is taxes and insurance. They are not discretionary, and it is difficult to control these if you work and if you own a house or car, and they are both going up at an astronomical rate. America's government way overspends and is in hopeless debt, and most states and major cities are in the same boat. Unlike you, governments can just legislate a "raise" for themselves without asking anyone. Insurance is mandatory for so many things, and due to state insurance commissions, laws and ever-increasing rejection of risk today, they are practically a cartel that can collude together on premium hikes and claims approval policies. You can try to shop pricing to a certain extent, but you either get less protection or more fight on claims settlements, even from some of the traditional blue-chip insurance providers. You can control your house, car, food and even credit costs to some extent. Not these.