ACCOUNTANT EXPLAINS: 10 ways you should be saving in 2023

OTHER VIDEOS YOU MAY ENJOY:


⌚️Timestamps:
00:00 - Intro
00:17 - Online bank account
01:00 - Reshuffle energy consumption
01:45 - Measure using these three questions
02:31- Turn off the dripping tap
03:08 - High-interest debt
04:09 - Maintenance before replacement
05:18 - Brands for utilisation
06:04 - Autosave
06:46 - Buy once, Cry once
07:18 - Cut your bills
07:52 - Bonus & Final thoughts

MY FILMING EQUIPMENT:

KEEP IN TOUCH:

DISCLAIMERS & DISCLOSURES
This content is for education 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!

[cafepablo]

For #9, I like the 'buy it nice, or buy it twice' -- far too many times I've bought something cheap only to replace it with the thing I actually wanted in the first place but felt guilty about the price tag.

[mirror_]

My lifestyle is minimalism and I don't think I'm not happy applying most of your principles in my daily life. It works!

[ilkka]

Thank you for these videos, they are really informative without any annoying stuff that many other financial advisors have in their videos. I used to have a high-paying job that was making me stress all the time, so basically all the money went into managing that stress (mostly in bad ways in the form of alcohol or unnecessary purchases). I now have a job to which I am overqualified (in all the positive sense) that doesn't stress me out. I did go down to 2/3 of the my previous income, but I am actually enjoying life more. Part of it is optimizing my finances with guides like these.

[cadmuscassey]

You really nailed it. I go for maintenance before replacements. Still using my iPhone 7 till date and my old camera to make content and recently I got the iPhone 13 Pro Max and a new camera, that’s within a space of 6 years. Not spending money unnecessarily. Before I upgrade again is 7 years time that’s if needed. Thanks for this content, over all you nailed it on point as always.

[AlexIonitaCH]

I would also encourage everyone to learn about how taxation works and what can one do to reduce their rate. For most of us taxes are the largest cost that we have.

[nolonwaboyisaka]

I love the one about defining your lifestyle as it allows you to cut off unnecessary things that cost

[iainamurray]

You've hit upon Vimes' theory of economic unfairness with point 9. Vimes is a character in Terry Pratchett's Discworld Novels. He said "The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money. Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles. But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while a poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet. This was the Captain Samuel Vimes "Boots" theory of socioeconomic unfairness."

[princesse]

I have also found something that will help to cut costs is heating. Majority of heat goes thru walls, ceilings etc. Because most of my property sits on a cellar it was very cold no matter how much I have had the heating on in the past. I put down some wood fibre underlay from bandq and I am telling you it cut my bill down. I put it on the stairs, and it has transformed the place. There are foil options available in underlays for floors. This foil can also be put on walls in lofts etc. There are also different tog ratings of carpets too to help keep the place warm. Curtains over the front door and draught excluders.These were major game changers for me and have more than slashed my bill by half.

[vidm]

Thank you so much for the first tip! I've moved part of my savings to a (reputable) online bank. In doing so, I bumped up the annual interest on my savings from 0, 05% to 2, 01%!

[aaden]

I tell my mom No. 9 all the time 😂. I say “buy it right, buy it once” and she rolls her eyes because she’s the person to have a Amazon package delivered to her door everyday!

[Anonymous-wwpz]

Oh and I was also obsessed with buying clothes but now I have stopped and have simple outfits for work, dog walking and that’s about it! I’m getting a new savings account soon . Thank you!

[philippelefebvre]

Thank you! These finance advices are really refreshing and helpful 😊

[TheNoobTker]

You've gotten my wife to take finances seriously, thank you for creating content and spreading the gender diversity around a bit.

[chico]

Great advice Nischa! Thanks for sharing this excellent list on saving money and spending it wisely!

[DeclanHiggins-YoutubeChannel]

I agree in most cases a cheaper item is just as good as a luxury brand. With house hold goods it is better to pay more for quality over the long term though. Being smart with our money is important. Thanks for an informative video Nischa 😊

[LonelyNEBoy]

I like the last point its something many financial content creators miss out. As rightly said by you, my lifestyle is financially not demanding yet im living life fully. I spend my hobbies usually doing landscape gardening, farming organic microgreens, writing, cooking and singing. I love and prefer microgreens salad and home cooked foods over junk foods and I enjoy picking fresh veggies from my garden and cooking them instantly. My spendings are usually straining on skincare, grooming and health care, though else my expenses on fooding, transport (I prefer walking), entertainment and housing are minimal (i stay with parents after covid and I do have my own privacy and ample lands or space to carry out my hobbies like landscape gardening)

[aaronpitfield]

Absolutely love your videos ! Keep them coming

[hansanaik]

Nice video! I never set up automatic payments for anything other than home insurance. I could set up automatic payments for property tax too but I have never felt the need. I set up scheduled bill payments as soon as I receive the bills. In the past, I have bought some cheap furniture and clothes and replaced them but I do not do that anymore. I do however eat out a lot and I need to stop that. In the past couple of years, I have also not used my gym much although I am paying a lot for the membership. I will start going to the gym more so that I get value for my money.

[travispipkin]

Great video that provided several practical suggestions/actions that I will follow-up on. And thank you for your free personal finance tracker. Already downloaded & beginning to explore. My favorite part of this video is your emphasis on prioritization over deprivation. So true!

[agnesshaambote]

Thank you for your videos. They have helped me in getting my finances in order this year.