Greatest Personal Finance Lessons That Will Change Your Life

Tired of feeling lost in the maze of personal finance? Take control with these game-changing lessons from Forbes, CNBC, and Entrepreneur:

1. Budget & Automate: Ditch the spreadsheet dread! Apps and automated transfers turn budgeting into a breeze. Every dollar saved fuels your financial future.

2. Invest in Yourself: Sharpen your skills, launch a side hustle, build an emergency fund - your future self will thank you. Remember, knowledge is wealth.

3. Conquer Debt & Spend Smart: Tackle high-interest loans first, track your spending, and say no to impulse buys. Small changes, big rewards!

These are just the keys to unlocking financial freedom. Keep learning, adapting, and watch your financial well-being flourish!

Answered FQAs:
1) What are the 5 basics of personal finance?
2) What are the 5 areas of personal finance?
3) What personal finance lesson is about?

Share this video with your friends, family, and anyone who wants to ditch the money stress and embrace financial freedom. Together, we can build a financially empowered world

DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. You must conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

#PersonalFinanceTips #FinancialFreedom #DebtFreeJourney #InvestingForBeginners #BudgetingMadeEasy #FinancialMindset #WealthBuildingStrategies

[jameswood]

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. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too,

[bobbymainz]

I began my investment journey at the age of 33, primarily through hard work and dedication. Now at the age of 38, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.

[ruthhigbe-harrah]

I’ve always tried to maintain an emergency fund and it has repeatedly saved me in cases such as needing to buy a new car, emergency vet bills (often costing as much or more than the $4k car 💀), etc. However this year I was unexpectedly laid off, and my emergency fund has been a true lifesaver. It’s still stressful watching those savings drain as I am unemployed (and getting approved for unemployment assistance has been an ongoing bureaucratic battle), but it has allowed me the time I need to secure a high paying job utilizing my degree rather then be forced to settle for the first job available in order to pay my bills and not get evicted! I am so grateful that, with the support of my savings, I will soon be working as a scientist at Mayo Clinic rather than at a restaurant or something. This event ultimately is turning out to be a step up in my career long term despite the temporary setback, which may not have been possible if I had not saved for the future. Saving saves lives! Haha

[Financial-Education]

I really enjoyed your video on personal finance lessons. The way you broke down the psychology behind our financial behaviors and attitudes was eye-opening. It's so true how our past experiences and social conditioning can shape our relationship with money.
I also appreciated the practical tips on budgeting and managing debts.
It's something we all know we should do, but sometimes it takes a clear and concise explanation to really drive the point home.

I have a question for you: Do you have any advice on how to stay motivated when it comes to sticking to a budget? Sometimes it can feel a bit overwhelming, especially when unexpected expenses pop up. I'd love to hear your thoughts on this!

Thanks again for the valuable insights. I'm definitely going to be more mindful of my money mindset and start implementing some of the strategies you mentioned. Keep up the great work!

[thefinancialneurologist]

Love this message! My goal is to retire at age 50, I'm a physician but I don't spend like one, though I do focus on experiences such as eating out and traveling and saving and investing the rest. Reading "Die With Zero" by Bill Perkins really changed my perspective on focusing on splitting my life into time buckets and retiring early.

[Health_Savvy]

Investing in yourself is so important. You are your greatest investment. Great advice!

[albertgisore]

Absolutely true, thank you for the knowledge

[viabell]

Understanding the psychology behind financial behaviors and attitudes
(Sunk Cost Fallacy, Appeal of Discounts, Social Comparison)

Knowing how to manage your finances / Live within your means
(Create a budget, track your spending, pay off debt, etc.)

Invest in yourself
(Create a personal spending plan that aligns with your goals, prioritize spending on your education, new skills, health, etc)

Build and maintain an emergency fund
(Off limits except for real emergencies – aim for 3-6 months living expenses)

[susannnico]

The more automated income you can create, the more freedom you'll attain. While the initial step is challenging, after five properties, you've been living off automated income since July 6, 2016. To reach your goal, you must begin taking those crucial steps.

[westgibbs]

2022 was a hell of a year, I have made $350, 000 before taxes as the sole breadwinner and head of household. This is a great starting point and I’m very aware how blessed we are to be in this position, but I’m always looking ahead on how to improve. 
I currently have $88K left in student loans (originally close to $150K) and very little credit card debt (less than $2K with more than $25K available). I have two auto loans totaling $170K for two electric vehicles at 5% interest. I will appreciate suggestions from anyone who has been in same shoes on how to go about them.

[kennethdorothy]

It is always good to have a financial plan. I work with a professional planner and a fixed-income strategist in NY. the fixed-income portion of your portfolio won't simply serve as a buffer to the volatility of the equity portion of your portfolio but will provide legitimate income.

[simonrolfe]

My advice to anyone would be have a financial health check with your bank, it works wonders. Great Video by the way. Have a separate account for your outgoings and one for your income. Have wage/salary paid into one account and set up a standing order to cover outgoing in other account. You will be pleasantly surprised.

[llbeiiy]

Work hasn't been consistent lately now my credit card is hanging me. Can you help

[Wythdrawl]

Compounding is the 8th wonder of the world

[Historyteacheraz]

Great insight! A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger is a good book for new investors.

[salahuddinmuhammad]

My grandfather's "save your pennies" was the least important lesson. slow saving is, well, slow. Budgeting is important but yeah. Invest. learn about trusts, LLCs, and holding companies. Don't envy the rich, learn the paperwork. Live a no-excuse zone. Network and avoid unproductive folks, especially, if related to them. Hang out with nine broker complainers, and you will be the 10th. Abhorr mediocrity.

[razvanm]

No one tells you this, except every book or video on finances.