7 Bad Money Habits (Fix These to Explode Your Net Worth) скачать в хорошем качестве

7 Bad Money Habits (Fix These to Explode Your Net Worth)

$500k/year financial analysis:    • This Couple Makes $500k But Still Feels Broke   There are several bad money habits that you should avoid to ensure you’re building wealth. Peter covers seven pitfalls and how to avoid them. 🫣 Ignoring your money 💰 Paying yourself last 💵 Not having a cash buffer 🤔 Not knowing your numbers 💲 Lifestyle creep 📈 Not investing ❌ Bad debt Building your confidence with money starts by educating yourself. Instead of ignoring money altogether, learn how to approach it. When a paycheck comes in, most of us spend the money and save what’s left over. Instead, do something called reverse budgeting. Save a percentage first; if you can, automate it so it’s already saved before it hits your account. This way, you can still pay your bills, but you’re prioritizing saving instead of spending the extra money. This will help you to build a cash buffer. You should aim to have 3-6 months of expenses saved, ideally in a high-yield savings account. This will not only reduce your stress around money, but it will also give you flexibility. It’s vital to understand your numbers: What’s going in and coming out? You don’t need to overanalyze, but having a framework can help you better understand your money. When you have a good idea of where your money is going, it’s easier to avoid lifestyle creep, which occurs when your income increases, but so do your expenses. Investing is a hot topic; everyone has an opinion. The truth is, you will never save your way to financial independence. You need to make some sort of investments and own assets that will appreciate long term. Investing will help your money grow, compound, and build financial independence. Debts that don’t result in an asset, like credit cards and auto payments, are detrimental to your wealth. Treating your credit cards like cash is an easy way to ensure you’re not accumulating bad debt. If you can, set up an automated payment. Be sure to pay off your credit cards every month. Steering clear of these common mistakes and adopting better financial habits can help you pave the way for growing your wealth into financial independence. ================ We help high-income earners capitalize on their accomplishments with pragmatic, data-driven financial advice. Learn more about Bull Oak → bulloak.com 🔔 Subscribe to be notified of future videos:    / @financialplanner   Timestamps: 0:00 - Ignoring money and paying yourself last 2:01 - No cash buffer 3:22 - Know your cash flow 5:07 - Lifestyle creep 6:07 - Not investing and bad debt 8:22 - Summary