6 WORST Money Mistakes That Makes Us POOR | Top 1 Percent Rich Club | Rahul Jain Personal Finance

My views on 6 worst money mistakes that makes us poor are explained in this video.

Money management is as important as earning money. If you want to be in top 1 percent rich club, you must focus on your personal finance.

How to be rich is not by luck, it's by avoiding these 6 worst money mistakes that makes us poor.

Please take this video as education and do further research on money mistakes to be avoided.

Investing for life by finding the best stocks for long term investment in 2023 is simplified on my channel.

You can subscribe to my smart investing channel to get started with stock investments.

---------------------------------------------------------------------
I am also available on:

---------------------------------------------------------------------

Hello,
At 14 🧒, I founded my first business and sold thousands of comics. Ran it for 3 years.

2004, I felt proud of getting a gold medal for my B.Tech from NIT Jaipur in Metallurgy. 💪

I got hired by a steel company. 11 months into it, I couldn’t stand the heat, dust, and noise. 😔

The gold medal I achieved didn’t help me. 4 years of my engineering felt wasted. 😢

I quit. 🤞

2005, I got into a tier 3 MBA school BIMM Pune. Got hired by Mindtree as a Business Analyst. 😊

Over 14 years, I grew into an IT leader and currently spend my 9-6 as an IT delivery Manager 👨💻

I can only be found on Tennis courts on Thursday evenings, strong at forehand and weak at backhand. 🎾

Every Sunday I teach 👨🏫 moral and Jain values to the kids 🚸 of age group 4-8.

On this channel, I share insights about the following:
• Personal Finance
• Career
• LinkedIn
---------------------------------------------------------------------

Credits:
Stock Videos from Pixabay and Pexels
Logos: Wikipedia Commons

Video Editing by: Nikhil Jain Kothiya

---------------------------------------------------------------------
DISCLAIMER:

PLEASE NOTE that I AM NOT A SEBI-REGISTERED ADVISOR so please do your own research. This video is only for educational and entertainment purposes.

#rahuljain #rahuljainfinance #investingforbeginners

[torahulj]

Please let me know in comments the mistake you would like to add from your own experience.

For exclusive member only content, you can Join my YT community here:

Click on the Join button next to the subscribe button and follow through the process :-)

You can follow me here as well:

If you found this video educating, please let me know in the comments. 🙌

Also please drop your suggestions on the topic that I should make videos. Thank you for watching and learning with me, keep rocking :-)

[bikasht]

Worst money mistake from my life experiences is to lend money to friends.

[TamaraGodina]

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

[sibiaadarsh]

The worst Money Mistake according to me is -
1. Neglecting Insurance (Medical, Comprehensive Vehicle, and Term)
2. Not differentiating between needs and wants
3. Not having sufficient Emergency funds (at least 5 months' expense IMO) in some safe asset

[kalyanaramansellamani]

Really an informative video.
The 6th mistake is " Not preparing a monthly budget for expenses and not adhering to the budget

[sonuagarwal]

Worst money mistakes is keeping the money idle in a savings bank account, since it earns a return of 2 to 3%. Hope this is the one that you are looking for. Thank you Rahul for an excellent analysis. 😊

[indiankitty]

Rahul, you are 100% honest, realistic and down to earth. No one tells the truth like you do.

[therecruiter]

I did a huge mistake of taking unnecessary personal loans and credit cards in the initial stage of my career. I could come out of all these but 10 years of my career from 25 - 35 impacted a lot for this. I have so many plans now but I have a wife and 2 kids.

[deepak]

Investing in Endowment Insurance Policies is the 6th Worst Money Mistake.
I hv read all the comments and learnt many Money Mistakes. Thanks for this video and BIG THANKS asking viewers to share 6th Mistake.

[jagadeeswaranmahalakshmi]

Mistake-6

Lack of financial importance and knowledge




And tqqq for ur video through which gathering some knowledge

[aratisridhar]

Thank you. Worst money mistake is not taking professional help early on in life to plan out our portfolio properly, keeping in mind different kinds of expenses and then not following it up consistently till all those goals are achieved.

[sandeepgupta]

The simplest and most common mistake is delaying starting investing. I started saving after I turned 30...

[ananda.mnanda]

Trusting people around me and lending money for their problems is the biggest mistake that ever did.

[happymoneyinvest]

Thank you!
Worst money mistake

Investment in such instrument which gives more returns than inflation in India.

[arjunps]

The biggest money mistake is not having enough equity allocation in the portfolio. Even if they have equity, keeping on buying and selling without letting compounding work is one of the worst mistakes done by people.

[mondalakiiscmet]

Thanks Rahul! The biggest mistake I made in my life is that I didn't start investing from the day of getting scholarship at the starting of my M.E. degree.

[Tanuja-bdop]

Thank You a lot . I wish I could know these few years back to save my hard money wasted in home load intrest .

[lokeshu]

Thanks a lot for sharing very valuable information.. especially about education infusion

[pritigupta]

Thank you Rahul ji for such an eye opening calculations and than the open ended question you put forward to viewer.
For me the worst money mistake a person do is not taking care of his or her health, spending lot of money in eating junk and than ending up with lifestyle diseases paying in lakhs yearly as medical bills. Definitely as you said save 10000/ per month 20yrs and get returns of upto a 1cr, and get 1lak per month after. that, so assuming spending 10000/- for medical bills and 10000/- for eating out per month you are losing 2cr in a year

[raguls]

Sir...

I think the sixth worst money mistake is investing in a lot of insurance other than term insurance...
One term insurance is enough for a family...

If you invest the rest of the money in an index fund it will push you in the top 1% of the richest people...