You’ll Save More Money the Moment You Watch This

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⌚️Timestamps:
00:00 Start here
00:16 What's the real problem?
01:48 Step 1
03:05 Step 2
05:18 Step 3
06:53 Step 4
07:56 Step 5
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All opinions expressed by Vincent Chan are solely Vincent Chan’s opinions. You should not treat any opinion expressed by Vincent Chan as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Vincent Chan’s opinions are based upon information he considers reliable, but does not warrant its completeness or accuracy, and it should not be relied upon as such. Vincent Chan is not under any obligation to update or correct any information provided. Vincent Chan’s statements and opinions are subject to change without notice.

Past performance is not indicative of future results. Vincent Chan does not guarantee any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed. Strategies or investments discussed may fluctuate in price or value. Investors may get back less than invested. Investments or strategies mentioned may not be suitable for you. This material does not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. You must make an independent decision regarding investments or strategies mentioned. Before acting on information, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

[davidbenett]

“Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.” - Robert Kiyosaki

[MsSassyMT]

I'm definitely an emotional spender and setting my savings on auto pilot has been a game changer. Never thought to look at items as cost per use but I have started buying higher quality items that need to be replaced less often.

[Matthew_Murray]

Im starting to think Vincent likes pineapple pizza

[AdamWrightfool]

Without a doubt, this year will be worse than the last. I lost a lot of money last year as a result of bad investment choices that I would not have made if I hadn't been so worried about my portfolio. I kept investing, but I couldn't determine whether to start paying for a house. In the end, I sold my positions, and the house needed more work than I had planned. I'm not sure how long I can keep going like this

[lmanderson]

Completely agree. I set it up so that part of my check goes into a food account, bills account, and the balance into a fun account. Game changer for this over spender😅.

[foodlover]

I love this breakdown of emotional spending. I definitely wasted my youthful earnings. I'm much more content in my life now and barely spend on unnecessary purchases. If only I knew then

[noksuan]

Finding myself in a situation where I don't have much space for extra stuff, has naturally prevented me from buying anything plus being lazy means getting a storage units was a no go, what I'm saying is humans have terrible impulse control, so in the long run it's better to structure your life and environment so that those impulses have nothing to grab unto.

[FairGosling]

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains.

[minttul.]

My spending changed forever when I started to turn price to hours of my time. This shirt costs "only" 20€ >> Am I ready to work 2hours to get this shirt? Mostly, the answer is no.

[mimiwallen]

I so believe this! We can all work on eliminating emotional spending. I ask myself this question when I feel the need to buy “unnecessary stuff” I remind myself that this purchase is not helping my FIRE goal!

[Asadc]

Speaking as someone who did in my younger start 20´s wasted alot of money. Mostly on pc parts components electronics related stuff. But i know people got different hobbies what might be cheap for someone else might be expensive for me. But as i growed older. I learned that it is much important to be financial independent rather than having denepndcy on others. I realized that having ones own shelther home over head vs living with others that having roof above ones own head is much more important that all fun stuff. Of course not saying fun stuff in life is bad everyone got different things they find fun spending money on. But i kinda talk from experience

[sebastiangoeken]

The comparison between a coffee from a cafe and a homemade coffee isn't 100% right. At the cafe you get the complete product (a hot and tasty coffee). With the machine you are only to able to make a coffee. You need to add expenses for the coffee powder, milk, sugar and so on. It will be cheaper than in a cafe, but from my perspective it's not 68 cents during a period of 2 years.

[NoahKettle]

Always looking forward to Sunday's when Vincent Posts

[EcomCarl]

Recognizing emotional spending triggers is so crucial for saving effectively. Setting clear goals and finding healthier alternatives to that dopamine hit can make a huge difference! 💡

[hollyc]

What is the model of the espresso machine that you have? I've been buying pods for my Nespresso machine, which is probably more expensive than buying a good espresso machine that will last for years.

[ThisJustin_]

What if i logically concluded that im emotional in my spending?

[rustykatt]

Vincent- great thanks! Well presented! For what it's worth- someone offered to buy us a coffee machine that make those wonderfully tasting coffees. We'd have to buy, buy, and continue to buy those coffee pods- expensive. We stuck with making our cheap instant coff- and continue to save $. 😄 (In my past life, I did buy coffees out.)

[mccnbinnie]

I really appreciate and agree your beak down and explanation on emotional spending, I definitely suffered from that and ended up wasting a lot of money, thanks to videos like this is I am learning to be more self aware and financially literate with my money.

[gamereditorner]

0:43 : So, logical > emotional with 5-step savings framework by finding out what I feel...🤔

Yeah! This can work! Thank you!

[inthevault]

Unsubscribe to all texts that could lead you to spend. For me it was my favorite candle company, Box Lunch, and Hot Topic. 😮 Now that I don’t get texts from them I don’t get tempted to spend that $3 coupon on a $75 order!!! 😂