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  • Whether we like it or not, we live in a deeply  capitalistic world. Everything is measured in  

  • terms of money. If you are creating a product and  want to know how many people it's going to help,  

  • all you have to take a look at is your sales. Your hard work is measured only in terms of how  

  • much money it can create. I know  that it sounds selfish and evil,  

  • but that's our reality, and we all unconsciously  follow this concept. Let's say I put a thousand  

  • hours creating this video or a movie or  a product. Are you going to watch it just  

  • because I have spent so many hours creating it? Of course no! Why would you waste your time?! 

  • My effort is not an excuse for  you to waste your time or money

  • On average, there are 700 movies produced in  Hollywood per year. How many of them do you watch

  • A fraction! Although people have spent countless  hours and money to create these movies

  • In other words, we are all capitalists  to a certain extend. It's human nature,  

  • but here is the problem. The subject of money is  not taught in school. We are taught chemistry,  

  • physics, literature, which are all important. We  memorize a bunch of facts that we never use just  

  • to pass the test, but when it comes to money which  is an essential part of our lives, we somehow skip  

  • it and consider it as something unimportantThat's why we go and get a 100K dollar student  

  • loan to get a degree that doesn't even guarantees  a job. And the funny part is that there is no way  

  • around that debt. Even declaring bankruptcy isn't  going to help you. You still have to pay for it

  • Don't get me wrong. Student debt  has worked great for many people,  

  • but it also ruined a lot of lives, especially when  40 percent of college students never graduate.  

  • That college degree is absolutely useless if you  don't graduate. Only if these people have been  

  • taught financial literacy back in school, they  would have measured whether taking a 100k loan  

  • is a good investment in themselves. Fortunately for me, I didn't get a  

  • student debt. I worked tirelessly throughout my  college years to be able to pay for my tuition  

  • without getting into debt. Yes, I have missed  a lot of parties, but I don't regret it

  • Student debt is just part of the problemEven once they graduate, they keep repeating  

  • the same financial mistakes over and over. Eventhousand-dollar emergency can push most Americans  

  • to go into debt. Less than 40 percent of Americans  can cover unexpected thousand-dollar emergencies.  

  • So here in this video, I am going to give  you the best money advice no one told you

  • Your school should have taught you, but it didn't.  

  • Your parents should have taught youbut they are the victims of the system

  • So if you are ready, give this video  a thumbs up, and let's dive in

  • Be rational with money.

  • Handling money is not as difficult as many  people might imagine. It's a lot easier than  

  • you think, but the keyword is - think. Most of  our financial decisions are made without really  

  • thinking about them deeply. Why did you take  that student loan? Because everyone else does

  • Wait for a second, did you think about how useful  it's going to be to you? Not really! Let me give  

  • you another example. When you buy a stock, for  example, or an asset. You always think in terms of  

  • why buying that asset is a good  idea. Maybe because it's undervalued,  

  • maybe because it seems to you like it's  going to double in the next year or so.  

  • But what most people don't consider is  that and lose money when investing is  

  • because they don't ask themselves - why  that person wants to sell this asset

  • When you are buying bitcoin, for instance, for  50K dollars, no one is creating a bitcoin out  

  • of thin air to give it to you like iPhones. You  are buying it from someone else. The question is  

  • if you are so deeply confident that the bitcoin  price will double in the next few month or year  

  • if you know that it's going to reach 100K dollars  or a million dollars. Why is that person or that  

  • investment bank or one of the early Bitcoin  holders who owns these bitcoins selling them to  

  • you for just 50K dollars? Doesn't he want to keep  it and sell it once it crosses a million dollars

  • Maybe because he knows something that  you don't? Maybe the reality is slightly  

  • different from what you might think. Especially when you are competing from  

  • your dorm room with investment banks that  have thousands of analysts working for them,  

  • analysing every aspect of this asset. Let's take another example. Most people  

  • don't care about the small day-to-day expenses.  A few dollars on avocado toast or 4 dollars on a  

  • Starbucks coffee should not make a difference. Those 4 bucks that you spend on a fancy cup of  

  • hot drink do not seem to make a difference. At  the end of the day, we work hard to earn money  

  • so that we can afford a more luxurious life. What is the point of denying yourself that  

  • pleasure if it's not going to make  any difference at the end of the day

  • 4 dollars a day is just 120 bucks a month  and $1440 a year. Which is a lot of money  

  • but still isn't really a deal maker since  you are getting instant daily pleasure

  • Even if you look at it from a long-term  perspective, like 30 years, it's just $43,200,  

  • which is not even enough to get you a houseMaybe enough for a downpayment in some states

  • But by then, you will be an old man.  
 

  • And secondly, if you do not buy that morning  coffee, you will probably spend that money  

  • elsewhere. Let's be honest, Chances that you will  put aside every morning 4 dollars aren't high

  • There are a ton of people who do not buy a coffee  every morning, and yet they are in no better  

  • financial position than you! 
 

  • However, there is a different side to that story! Let's try to look at everything from a completely  

  • opposite angle where that cup of coffee can be  a deal maker between you becoming a millionaire  

  • or not! 
 

  • What is the opportunity cost of that daily coffeeWhat if you do not just save that 120 bucks but  

  • invest it every single month over the course of  30 years. If you take the historical average rate  

  • of return, which is 10%, that would be $285,685  dollars which is a decent amount of money. It's  

  • way more than $43,200, but it still isn't going  to make you rich, especially after 30 years

  • However, when you start  

  • looking at it from that perspective, you start  counting the opportunity cost of everything else.  

  • The avocado toast that you buy together with  your coffee, your iPhone that you update every  

  • September. Every time you eat outside instead  of cooking at home, all the clothes that you  

  • buy but don't really wear, all the money that you  spend on alcohol, and the list goes on and on.  

  • And if you take the total sum, it starts  making a difference! A real difference!  

  • You realize that your chances of becomingmillionaire are very high if you choose to be  

  • more conscious of your spending. 
 

  • But, you may say, what is the point  of sacrificing my entire life so that  

  • when I am 70, I can sit on a pile of cash? And you are absolutely right! You shouldn't!  

  • That's really dumb! 
 

  • Your time is limited here on earth. You are not  going to live forever. You won't be able to take  

  • all that cash with you to your graveyard. You  should do your best to spend as much as you can,  

  • except if you want to leave something  behind for your kids. But at the same time,  

  • you don't want to worry about money all  the time, throughout your entire life

  • That's why you should try to reach to a  

  • point where your investments are much higher than  your expenses, and you will keep getting richer  

  • every year regardless if you buy that coffee  or not because your investments are growing

  • And that takes me to the next  

  • point - always think long term.  
 

  • Let's say you are about to get into collegeIf you think strictly in terms of 4 years,  

  • then getting a student debt, for example, is  great because you will have the time to party,  

  • hang out with friends, and have fun while  getting your degree, but if you think in  

  • terms of 20 years, you realize that you will  have to pay off that debt once you graduate.  

  • The point isn't whether student debt is good or  bad, but when you take any financial decision,  

  • think about whether, in the long run, you  are going to be doing well financially

  • Of course, we don't know how long are we going  to live, but life expectancy in the US is around  

  • 78.5 years, so it's better to plan that way  even if you might not end up living that long

  • But here is another misconception  

  • that people have. Let me make it clear and simple  - money is not going to solve your insecurities

  • You can be driving a Lambo, flying private while  still be insecure. So if you are chasing money to  

  • feel more confident, attract more attentionor build friends. Then that's a bad idea

  • Money solves a lot of problems, but insecurities  aren't one of them. People realize too late  

  • chasing money their entire lives only to  discover that there are actually problems  

  • that money can't solve. So, while it's important  to strive to become financially independent,  

  • there are plenty of ways you can improve your  life even if you are barely paying your bills

  • 
 
 

  • Anyways, it's time to go and get your two free  stocks from we bull of you. Use the link in the  

  • description. Or check out my special course  on Skillshare that will teach how to invest  

  • in the stock market like those rich people. And most importantly, give this video  

  • a thumbs up if you want to help and  subscribe if you are new around here

  • Thanks for watching and until next time.  

Whether we like it or not, we live in a deeply  capitalistic world. Everything is measured in  

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The Best Money Advice No One Told You About

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    Summer posted on 2021/09/15
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