7 ways you’re losing money without realising it

Learn about the 7 biggest money mistakes people make and how to avoid them to improve your financial future.

MY FAVOURITE STUFF:

PRODUCTS I USE & BOOKS I READ:

KEEP IN TOUCH:

TIMESTAMPS:
00:00 Intro
00:35 Keeping you head in the sand
02:13 Obsessively comparing
03:29 Not turning you capital
06:30 Not assigning yourself an hourly rate
07:45 Not living on the 90%
09:04 Focusing on cutting back
10:05 Not tracking your expenses

🧡DISCLAIMERS & DISCLOSURES
This content is for educational and entertainment purposes only. Nischa does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.

This description contains affiliate links that allow you to find the items mentioned in this video and support the channel at no cost to you. Thank you for your support!

*T&C's apply

[astha]

Being 17 and learning from your videos was one of the best decisions I ever made!

[kiranp]

being 68 and learning from you is one of the best best decisions I have ever my biggest mistake? did not take advice, or look over the heads of what was happening, how to find and understand the choices I had. Always have a good network of people around yourself. Nischa has so much to learn from. Always grateful. And always smiling.

[KeeptheChange]

For those of us on normal salaries, monitoring your expenses is crucial.

[roselinededua]

“Not assigning an hourly rate for yourself” I’ve never thought about this this way! Thanks Nischa for this.

[amitkaria]

Nischa I would love to see both you and Ramit Sethi on a podcast together. Two awesome financial experts and phenomenal teachers. Learning so much watching your content. 🙏

[pecelirovucago]

I’m watching this video with my 17 year old grandson in understanding how to build his own wealth, with resources available to him.

Thank you Nischa .

[JamesWilliamson-wy]

For most folk your biggest loss is holding your savings in cash, or in a bank savings account. Every day inflation erodes it's value. For every penny you can put into savings I suggest you use it to buy gold. It's not a get rich scheme but it will stop you becoming poor. The gold must be physically in your hand otherwise it's not an asset.

[gmrrnracr]

Nisha, I saved up $60k in my checking account strictly for emergencies. It’s my emergency fund.
I believe those who have 50k, 60k and 70k are holding onto it for exactly that reason, an emergency only.
I’m a single man with a 13 year old son and a home owner (mortgaged)
Many advisors highly suggested 6 months to 1 year saved in an emergency fund.
That’s why I’m sitting on it and not moving it like you suggested. Unless I misunderstand what you are saying

[KYChan.official]

Thank you so much for this video! Used to focus on cutting back, thinking should I rent a shared room with others to cut cost. However, after careful consideration, I understand I really don't like to live with others esp you don't know who is that person, so I rather spend a little more to rent a one bedroom apartment. And right now I enjoy living by myself in one bedroom and film video whenever I want in any corners. I don't think I'm able to do this if I focus on cutting cost. And living environment just way too important for me! 💜

[ThePuttercross]

The ability to postpone gratification is the biggest indicator of building wealth. It is easier to build wealth today than at any time in history.

[EyalBilia-tlkh]

Hey, thanks a lot for another great video!
Just a heads up, there seems to be an audio issue in this one. It sounds like the sound stage is doubled or something.

[rayderrich]

I love your videos, have been listening to your advise for a long time now, and as I do I always make my mind believe I still have enough income to follow the suggestions. In reality though, I am disabled and live off a government benefit. My financial situation is fine because I followed the smart suggestions even before I was this old, but raising my income or getting a side hustle is not in my future.
Would you be willing, and able, to one day publish a video or two for people like me who want to stretch what little they get on a monthly basis and still have some kind perspective for the future?

[aname]

We’re trying to rapidly save to upgrade our house. Do you plan on any content on mortgages? We can’t think about investing yet.

[Wealth-Frontier]

Very interesting video. You brought up some interesting points!

[LoganSamuelVideos]

Just started my own personal finance YouTube channel and still learn thing from everyone of your videos! Great content! Thanks Nischa!

[ZerinCansu]

it's kinda crazy how nobody's talking about the forbidden ebook called unrevealed money methods borlest

[fmacdonald]

Nischa
Thanks for educational vlogs, being 68 and retired there are a few thing’s that you haven’t covered.
I have more then I need pension and savings wish I worked hard for and sacrificed thing’s for in my young year’s only to see other’s get help with who didn’t.
You know tomorrow is coming to every one and life isn’t all ways about money but thank you and keep up your good work.
One more thing you and other influencers ( Martin Louise ) why do you have to talk to fast I was all ways told if a salesperson is talking to fast walk away .
Thanks again your one of the most interesting vloger.

[hagakuru]

everyone should have $30-50k in cash available immediately. you never know when SHTF and you need to pay for something right away. Or, if an emergency comes up etc.

[h_hjs]

@nischa Your videos are super informative and help gain knowing of money management and wealth creation. I follow you to gain money intelligence. Thanks and Regards

[somyatravelogue]

Keep doing and sharing, we love your advices !