10 personal finance lessons that changed my life

Amidst the minefield of questionable financial advice online, I've found some strategies that actually work. In this video, I share the 10 biggest personal finance lessons that changed my life, taking me from a broke college student to a financially free 34 year old with a healthy prostate.

📚 Personal Finance Books I recommend:

Hi there 👋 If you're new to my videos my name is Matt D'Avella. I'm a documentary filmmaker, entrepreneur and YouTuber. I've made a couple documentaries for Netflix. I also teach courses on everything from filmmaking to habit change. If you like to nerd out about self-development as much as I do, you can subscribe for weekly videos.

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🎬 CREDITS
Directed by Matt D’Avella
Produced by Emma Norris & Matt D’Avella
Cinematography by Kariza Santos & Matt D’Avella
Edited by Matt D’Avella
Animation by Spencer Torok
Design by Carly Berry

[susannnico]

This is financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR. If you don’t want to invest…learn. If you don’t want to learn…build. If you don’t want to build observe. DO SOMETHING…other than leave. There is so much opportunity here. Take advantage!

[BateserJoanne]

Having harbored financial concerns throughout my entire adulthood, it's intriguing to watch this video and recognize the potential for significant achievements with proper goal-setting. Experiencing the freedom of not being consumed by financial worries that haunted me for numerous years is genuinely liberating. I believe this is the outcome of consistently putting in diligent effort for the future.

[bobbymainz]

Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.

[Riggsnic_co]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market

[cooperhayes]

I'm not even kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it, Investing is a long-term game, so I try to focus on the long term.

[MP-opsu]

The video starts at 1:35 and here, i summary the video to save you from spending 10 minutes of watching general tips and ads:
1. Income isnt eveything. Pay attention to your expenses. That is the most important.
2. Diversify your income. Have a different source (e.g. side hustle)
3. Invest in yourself. Learn something, spend money to make money (e.g. good education, good equipment)
4. Say yes to everything.
5. Move in with your parents. To cut your rent expense
6. Stop buying crap you dont need (e.g. expensive cars, clothes)
7. Track the important stuff. Know your progress and financial situation.
8. Read one personal finance book a year. Just to make you updated on new things
9. Cull your thing. Filter the information you saw on internet
10. Celebrate your progress. Celebrate your milestone to give you motivation to keep going.

[pandemichoneymoon]

Don't forget that you can always rent your books from the library, instead of purchasing them right away!

[mikemenos]

"Imagine reading the left side of the menu first." That hit hard.

[alexsteven.m]

Stocks are falling and bond yields are rising, but markets still don't seem convinced the Federal Reserve will pursue plans to keep increasing interest rates until inflation is under control. I'm still at a crossroads deciding if to liquidate my $150, 000 stock portfolio, what's the best way to take advantage of this bear market?

[trazzpalmer]

Having recently sold a property in Portland, I'm contemplating investing the proceeds in stocks. While many claim it's an opportune moment, I'm uncertain: Is now truly a favorable time to enter the stock market? When can we expect a complete recovery? Moreover, I'm puzzled by how others in the same market are achieving gains exceeding $450k within months.

[siphelelekhankhan]

Matt: move in with your parents.
Me: i never left.

Great video Matt

[daledecker]

Yeah finance is cool Matt but how did you get your arms so big?

[sacdaabdurhman]

“Everything in life is easier when you don’t concern yourself with what other people are doing”
Hope you have a good Monday 💜

[louisairvin]

Stocks are falling and bond yields are rising, but markets still don’t seem convinced the Federal Reserve will pursue plans to keep increasing interest rates until inflation is under control. I'm still at a crossroads deciding if to liquidate my $117k stocck portfolio, what’s the best way to take advantage of this bear market?

[oliveredwards]

Investing in stocks can be an efficient way to build wealth over time. The key to making money in stocks is remaining in the stock market, investors often move in and out of the stock market at the worst possible times, missing out on that annual return.

[harleycartley]

I can attest to her advise, I lived pay to pay, worked for other people making ok money but making them more money and got 12k in cc debt, I really had to sit down with myself, realize I was blaming everything else for my problems and really looked at how much money I was paying for the debt, I got furious with myself, this was in my late 30s. I did a nuclear assault on my cc debt making payments weekly, once I freed myself of that burden I invested in stocks, started my own business, it's been a hard long road and I'm by no means wealthy but I am rich and I work for myself and not living week to week, 14 years later I own a boat called the S.S Juliaa Advice for younger people - Don't give up! Sometimes it takes years to get yourself setup, wipe the word "can't" out of your vocabulary, surround yourself with positive successful people(success means more than money). I could also go into eating well and keeping a clear mind.

[anhnguyenthingoc]

Still remember 7 months ago, I clicked to 1 of your videos about personal finance and it completely changed my mindset about money and encouraged me to self educated myself about that. I am lucky to start to think about personal finance when i am at my 20s, instead of 40s =))

[hentie]

Lifestyle creep, yes, you should not inflate your lifestyle, but items that have been on the wishlist for months or years, a vacation that you dreamed of, you totally should spend that money to reward yourself. Putting all your extra cash into the investment to compound savings is good for retirement, but spending money in your 60s is never as exciting as spending them in your 20s-30s. DON'T be too harsh to yourself, paying for a reward is the same as paying for your mental health. You just need to control how much you actually spend.

[stephen-finance]

Did you just monetize a foot massage? That's next level! 🤯😂

[voyager___]

1 2:35 - Income isn't everything
2 3:49 - Diversify your income
3 4:35 - Invest in yourself
4 5:34 - Say yes to everything
5 6:03 - Move in with your parents
6 6:46 - Stop buying things you don't need
7 7:18 - Track the important stuff
8 8:12 - Read one personal finance book a year
9 8:43 - Cull your social media feed
10 9:17 - Celebrate your progresses