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Personal finance: How to save, spend, and think rationally about money | Big Think

Frames Personal finance: How to save, spend, and think rationally about money | Big Think

Description Personal finance: How to save, spend, and think rationally about money | Big Think

Comments Personal finance: How to save, spend, and think rationally about money | Big Think

What was your favorite personal finance tip from the video? Comment from : Big Think

I hate borrowing money unless it’s to my advantage I got a really low car loan rate and financed my suv 100 while the cash for the car was making me more via investing I paid cash to buy my retirement home I pay off credit cards monthly I save for home improvement projects and future car buying (I don’t see interest rate going to be 15) Comment from : Jenesis

This was beautiful Thank you Comment from : toluwole

Aren't the ones that own over 80 of the wealth the minority don't they do very little if any of this is only applies to the majority of debt slavers? Comment from : adCaptandum Vulgus

Why are there seemingly so many fake comments with thousands of likes, with the same fake discussion going on in the replying comments that lead to this or that financial advisor? Are some people really this low in quality? Comment from : Bar Seven

This video was excelent Comment from : Manuel Pineda

I'd be retiring or working less in 5 years, and I'm curious how others split their pay, how much goes into savings, shopping, or investing; I earn roughly $250K per year but have nothing to show for it Comment from : Esther

Thinks you own end up owing you Comment from : khela hobe

Deciding to watch this video terrified me 🥹🥹 Comment from : Yinka Adefunmi

I have less than $5,000 in debt I make just short of $90k per year I pay $400 a month in rent I have lots of cash put away in my 401k, savings account and in retail investments I still feel extremely poor Comment from : JoDrizzly

RESIST THE SLAVE MIND Comment from : Patrick

Im going to be rich Comment from : Diory N

Why think rationally now though? Nothing is rational in life anymore We have alternative facts and endless weather extremes that everyone shrugs off Comment from : Ben

There is an incredible lack of salient information across the 15mins of this Comment from : WalkiesHD

Such a powerful video to manage our personal finance in an efficient way WOW Comment from : SHREESHA K M

As an elder millennial, one of the few advantages is having lived through the Great Recession My advice Reduce unnecessary expenses, increase your savings by investing in financial markets and do not sell One thing I know for sure is that diversifying your income can help insulate you from much of the craziness going on in the world Comment from : Margaritas Bunny

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 Comment from : Rochelle Trembly

This prescriptions is good just for Americans, or an iper-consumistic society Comment from : Alessandro Drudi

Children don't need money!!! Comment from : SQAuto SQA

Considering that most Americans live pay check to paycheck…acquiring debt to survive is inevitable Whether it’s credit card debt, payday loans or whatever And if they’re acquiring debt to maintain survival, feed their families, etc…saving money isn’t feasible or possible Not to mention student loan debt, car loan debt, etc, etcbrbrThe elephant in the room is the living wage is piss poor, inflation is thru the roof, and the value of the USD is as low as ever in history Until those issues are resolved…most Americans will never be able to achieve financial freedom Comment from : LIfe 101: Mindset Makeover

I want more of that Need more finance advice! Comment from : RedTwerp - Carrie Burns

Debit cards no benefits, no interest no discount benefits Credit cards are the better option but they are not for everyone, as i am sure everyone who is here for advice lacks the discipline required Comment from : IAM TROYMG

How am I only discovering this channel now, YOUTUBE!!!! Comment from : Splunk

Broke Comment from : thugtopia

What a stupid video Comment from : Duncan J

What was your favorite personal finance tip from the video? What was your favorite personal finance tip from the video? Comment from : Marcos Montgomery

🤔: If a relationship is a 2way street How can one have a relationship with an inanimate object? Comment from : COREY TERRELLE

This man almost sounds like winnie the pooh Comment from : Hazlin Emira

Idk why we say we don’t teach kids about money Didn’t every kid hear about the stock market and to save your pennies Comment from : Peter Koinzell

Money might not give you happiness but it will give you options to find happiness Comment from : MAX AJ

This is incredibly condescending couldn't even do 5 mins of this Comment from : jessie flores

great video, thanks for sharing Comment from : Victor Pacheco

“Don’t get into debt” “6 months of emergency savings” - let’s listen to these old middle class privileged people tell you how money works… this is an awful video Comment from : Mr Kowalczyk

As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing I do have about $700k amount of capital to start up but I have no idea what strategies and direction I need to approach to help me make decent returns Comment from : Zahair OBrian

I liked all of it, well structured information, concise and engaging My favourite was the correlation between "stuff" and happiness (that is, there isn't one) It's obvious, yet at times we miss the truth under our very nose Comment from : Christine Chapman

I started stacking to SAVE wealth I've always been the type of person to spend my entire paycheck I hate having money just sit in the bank I am under pressure to grow my reserve of $950k before I turn 60, I would appreciate any advice on potential investments Comment from : Stevens Middlemass

Your activities and hobbies with other same crazy people like you - make you feel happybrGreat idea, thank you! Comment from : barogozz

These are very valuable rules for anybody who wants to get rich Unfortunately, most people who will watch this video will not really be able to apply the principles We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit I just don't know how they do it I have about $89k now to put in the market Comment from : Riggs Nicole

The best channel on YouTube for Me Comment from : Salah Hadji

The financial system has been artificially pumped for over a decade to ensure big pockets were lined; and now those same hands will make a fortune in the largest transfer of wealth in human history by shorting it on the way down Inflation does have a roll, but that's to keep everyone panicked, and focused on their bills and expenses, rather than focus on the capital crimes of politicians and corporations,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market?? Comment from : Deborah Clark

Money is possibilities No money - no possibilities Comment from : Andrii I

These are very valuable rules for anybody who wants to get rich Unfortunately, most people who will watch this video will not really be able to apply the principles We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit I just don't know how they do it I have about $109k now to put in the market Comment from : Margaritas 🍸

this is neoliberal bullsh*t people are born in dept, people are born in super rich wealth the society is super unfair and people are supposed to work for money property is a lie property is a construct everything belongs to everybody Comment from : Janos Szombati

Life is weird, beautiful experience when you step back and look at it Grateful to be here with you all, working with a financial advisor could truly set you up in life I’m delighted to contact a financial advisor earlier this year because while others were busy whining about the downturn I was busy cashing out from my investment, finally making over $370k for the first quarter of the year Comment from : William Davis

This is a 90 bullshit with 10 obvious truthsbrPeople watching this crap from all over the world, but true is that so called investments and complex percentages are accessible to very small amount of population Comment from : Федор Усаков

This video makes me want to start a family 😅 Comment from : Tapelo Ngwenya Fanikie

😒 Comment from : Black Dollars Media

I wanted to push back on the idea on giving vs keeping While I agree that giving is rewarding and can lead to happiness, I definitely think that keeping and spending on yourself CAN lead to happiness While being skeptical of the burgeoning self-care industry is reasonable, I think investing in those little things that you know can have a demonstrable and positive impact on your own practices of self care actually can lead to happiness Whether this is skin care that you take a lot of time researching or investment into your living environment, these things can affect your daily mood and satisfaction tremendously Comment from : TheUltimateShaz

This is by far one of the best videos that do actually educate about money ! Sharing wildly Comment from : Badr Imran

I have autism and i got around 400 games on xbox half were on sale and half were $60 i got them over several years and i play both alone and with friends I dont find them to be a waste of money in any real sense True i may be physically alone but if i were to die tommorrow i would die happy I know people micromanage you into what your allowed to think but that isnt me Comment from : matt carnes

Currently I'm just being smart and frugal with my money, I'm in the green 47 over the last 23 months and l've accumulated over $700K in pure profits from DCA’ing into stocks, ETFs, dividends and futures However I’ve been in the red for a month now I work hard for my money, so investing is making me a nervous sad wreck I don’t know if I should sell everything, sit and just wait Comment from : bob fletch

What is this ladys name? Comment from : Sophia T

Intro lady is so silly As if society “requires” people to deal with issues of scarcity, survival, and fear of the future As if “society” CREATED those As if they’re not simply inherent to life and human nature Comment from : Matthew Harvey

Caviar lifestyle on a ramen noodle income Comment from : Acer

I respect all lenders and I would advise anyone who is preparing for a loan to just remember to make those payments on time every time Comment from : Levi Woodruff

There is no way to think rationally about money when you consider all it has wrought Comment from : Rob Perreault

My mindset is generational wealth, i will build it buy giving my kids stocks and crypto currency and make sure they are fully litterate by the time they are working their first job Comment from : Matt A

These may have stopped and changed after the millennial generation These should be taught in school Thanks ❤ Comment from : NL

A vivid and lucid illustration of glaring belligerent ignorance… Comment from : Khaim Gulkovich

Social rank cannot be enough high… The Heven is the limit! Comment from : Khaim Gulkovich

Money is a collective self-delusion, a pure evil Comment from : Khaim Gulkovich

The concept of "happiness" is incompatible with the objective need of a social animal to occupy a proper place in the dominance hierarchy Comment from : Khaim Gulkovich

A safe comfortable home, comfortable clothes, reliable transportation, and healthy food What more do you need to be happy besides time to spend with friends and family? Comment from : Paul Pease

Essential information 👍🏻 thank you so much 👍🏻 Comment from : Financial Independence UK Academy

My financial philosophy is 'voluntary simplicity', its allowing me to find my goldilocks middle Comment from : Inolofatseng Lekaba

The only money you have left, when you die is the money that, went through your ass Comment from : Daniel Mutafchiev

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 Comment from : Cooper Hayes

Easy, all you have to do is realize that money was created by a small ethnic group, and used to control the vast majority Comment from : Rabadala

Pure wisdom in the first 4 and half minutes which I accumulated by reading many many books Comment from : Nagarjun Nagesh

Money is immaterial, it is 100 a total abstraction Just a bunch of numbers on a computer screen, similar to any other form of measurement like inches, meters, degrees etc money isn’t real Comment from : Vi T

Not sure that I completely agree with all statements Buying and playing a very cool video game or reading a book is experience in the first place, and it is much nicer than talking to people in general imho Comment from : Ольга Фридман

so how do I figure out what's "enough" for me?- financially ignorant person here asking I have a good life but money has never really meant anything to me I spend when I have and when I don't have money that's OK too Comment from : Antoine Giusti

0:43 (hate i feel the need to point this out but its the literally capitialist system were living under currently) Comment from : Corbin Nibiru Aspen

Technologies are changing quickly, new jobs are being created all the time and schools just struggle to keep up in 2023 everyone should learn personal finance and teach our kids! Comment from : Anastasias Sharings

Can't take seriously any advice that tells u to use debit and not credit Comment from : Dimi000

Nice little video Comment from : Veysel Ugurlu

Or we ditch money for something that isnt abusive and all about profit! Easy win! For everyone Comment from : Pasta21

I'm a college student about to graduate, thankfully, with no debt, which is incredibly hard, especially in the US I'm incredibly lucky The one time I had to take a loan for college was pretty traumatizing for me I really didn't want to do it after what happened to my dad with debt I remembered that time and thought I needed to brush up on my knowledge of money and personal finance before I get a job that I can live off of, so I'm here It's a good refresher Definitely makes me more confident about this whole thing Comment from : paravel

1 What was Vicki Robin's 2016 session about?bra Cookingbrb Relationships with money *brc Exercisebrd Artbrbr2 How many people were in the room during Vicki Robin's session on money?bra 20 brb 50 *brc 100brd 200brbr3 What was the general feeling of the people in the room about money?bra Excitement brb Joybrc Fear * brd Calmnessbrbr4 What did Vicki Robin find infuriating about people's relationship with money?bra The amount of money people had brb The fact that people had debt *brc The fact that people didn't have enough moneybrd The fact that people didn't talk about moneybrbr5 Who was in fear about money in the room according to Vicki Robin?bra Only people in debt brb Only young people brc Both rich and in debt people * brd Only older peoplebrbr6 What is a major weakness of human decision making?bra Narrow framing * brb Broad framing brc Emotional control brd None of the abovebrbr7 What is the first layer of financial independence?bra Getting out of debt brb Saving six months of money in liquid assets brc Understanding that you're a sovereign being and the economy is secondary *brd Investing in stocks brbr8 How can you get out of debt?bra Keep spending more brb Stop going into debt * brc Use credit cards more often brd Buy more tchotchkesbrbr9 What is the third layer of financial independence?bra Understanding compound interest brb Saving six months of money in liquid assets brc Getting out of debt brd Surplus savings can be invested in such a way that it throws off an income *brbr10 What is the fourth layer of financial independence?bra Getting out of debtbrb Saving six months of money in liquid assets brc Understanding compound interestbrd Surplus savings can be invested in such a way that it throws off an income *brbr11 What is important for making certain kinds of decisions?bra Emotional reaction brb Being numerate * brc Having a strong gut feelingbrd Framing things narrowlybrbr12 What is detrimental in people's understanding of compound interest?bra Having a strong gut feelingbrb Being too numerate brc Being hazy about the concept of compound interest * brd Framing things too broadlybrbr13 What is important about taking the broad view?bra It's important to have an emotional reaction brb It's important to frame things narrowly brc It's important to think of winning and losing in broad terms *brd It's important to be hazy about the concept of compound interestbrbr14 What is the relationship between money and happiness?bra Money can't buy happiness brb Money can always buy happiness brc Money can buy happiness, but it's complicated * brd Only rich people can be happybrbr15 What emotional feelings are often projected onto money?bra Happiness and joy brb Sadness and depression brc Guilt and shame brd Deep, gut level emotional feelings * brbr16 What do people generally want more of besides money?bra Happiness *brb Fame brc Power brd Status brbr17 What is a deeper relationship between money and happiness?bra They have nothing to do with each other brb The more money you have the happier you'll be brc The relationship is complicated * brd Money doesn't buy happiness, but it can buy things that make people happybrbr18 How can financial freedom be defined?bra Understanding that the economy runs your life brb Being at the mercy of consumer culture brc Understanding that you're sovereign and the economy is secondary * brd None of the abovebrbr19 What is the first step to getting out of debt?bra Keep going into debt brb Putting off paying debt brc Stop going into debt * brd All of the abovebrbr20 What is the importance of savings?bra It's not important brb It helps people buy more things brc It helps people in emergencies and gets them out of the zone of precariousness * brd It's only important for rich peoplebrbr21 What is the importance of passive income in financial independence?bra It's not important brb It can contribute to financial independence by throwing off an income * brc It's only important for rich people brd Both A and C brbr22 What is the importance of tracking everything you buy?bra It's not important at all brb It's a helpful way to understand how you're spending your life energy *brc It's only important for rich people brd It's a waste of time brbr23 How can you track everything you buy?bra Use cash brb Use credit cards brc Use debit cards * brd Both A and Bbrbr24 What is important to have limited emotions toward?bra Winning and losing in broad terms * brb Winning and losing in specific terms brc Spending money on what makes you happy brd Investing in stocksbrbr25 How can people make better decisions?bra By framing things narrowly brb By having a strong emotional reaction brc By taking a broad view * brd By not being numerate Comment from : Business Frameworks

This video is a great reminder that small changes can add up to big savings over time It's inspiring to see how easy it can be to start building wealth with just a few adjustments to our habits Comment from : Enhance Finance

I love money brI play a game called save every cent that comes my way and done so since I was a kid in the 70sbrI owned my home aged 30 and all my cars, toys brI've never been in debt ever brI don't trust banks after I went to withdraw some cash and was questioned by the bank teller what did I want my money for ? That was 1989 and never put another cent back in the bank for investment or savings, only for bill paying brCash is king, don't use electronic money if you can Comment from : charlie pearce

This video has a lot of what I think are probably reverse causation fallacies or confounding factors causing the results described but are being taken as granted and sold to people on YouTube like it’s fact I would recommend to do more of your own research than just watch this video A lot more Comment from : Mark Istvan Ledeczi-Domonkos

Enough Comment from : Scott Winter

How can one become innumerate? Comment from : latoya bmc

My spouse and I are adding a variety of stocks/ETF to my present holdings for the long term, We've set aside $250k to start following inflation-indexed bonds and stocks of companies with solid cash flows, I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term profit Comment from : Kaleb White

when you're talking about "enough" in the end of this video, youäre actaully talking about "lagom" Lagom is a swedish expression that means pretty much exactly what you where talking about It's enough, not too much, not too little, a good amount Comment from : Roger Engman

"knowing that money is your life energy" Ah No It isn't And thinking like that is why folks can't do your step one, by the waybrOh, and you know the expression, "Money doesn't make you happy"? That's actually true If you're fully bought-into on capitalism there's no way your brain can understand that statement, but it's true nonetheless There are millions of people with obscene wealthy who are very unhappy, and many many times more people who are in abject poverty, and yet are reasonably happy (Less now than 50 years ago thanks to more and more of the world fully buying into the concept of capitalism, but still a ton of people in that category) Okay, I wrote that just before that guy pops up and tells us the money-can't-buy-you-happiness thing but with a caveat of the ilk: actually it can if you're careful Again, I call BS on thatbrSaying that we get happiness from buying stuff from others - yes, that is true (for everyone who's not a psychopath I guess)brThe concept of being happy with "enough," is important WisebrbrOverall you had some interesting thoughts here Thanks for presenting this Comment from : mrnnhnz

real gold Comment from : Fask Insight

The old man talks without saying anything at all very impressively Comment from : your mom

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