5 Modern Money Traps that will make us POOR in 2024 - The AssetYogi Show #11
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- čas přidán 20. 05. 2024
- 5 Modern Money Traps that can make us POOR in 2024: In this video, we’ll talk about budgeting, good vs bad credit, investing vs trading, tax management, financial discipline and personal finance.
Early sign-up to the app:
assetyogi.com/sign-up/
In this video, we'll delve into the common habits leading to financial strain and learn how to avoid them. we'll also explore the financial challenges confronting Millennials and Gen Z. We'll examine how overspending, reliance on credit, and neglecting personal finance impact their financial well-being.
Additionally, we'll provide practical tips for smarter spending, effective budgeting, and securing long-term financial stability.
0:00 Intro
02:15 Overspending/ Spending without Budgeting
03:11 Excessive credit
03:54 Debt Trap
04:59 Taking Parents' Wealth for granted
06:20 Trading Vs Investing
07:08 Loan Management
08:45 50-30-20 Rule of Budgeting
10:09 Good Debt vs Bad Debt
11:36 Learning Finance
About the Video
Are you a millennial or Gen Z struggling to manage your money effectively? Many of us are facing the challenge of juggling financial responsibilities while keeping up with the latest trends. From feeling pressured to own the latest gadgets and fashion to relying too much on credit and even treating parents' money as our own, these common habits can lead to financial strain in today's fast-paced world.
Overspending on consumer goods, spending without budgeting, relying too much on credit, and neglecting personal finance and long-term investing are hurdles many of us face. It's time to take control of our financial well-being and learn to make smart, informed decisions about our money.
Join us as we explore practical tips and strategies tailored to the unique financial challenges of today's youth. Let's break down these common habits and discover how to adopt a more mindful approach to money management, ensuring a solid financial foundation for the future
In this video, we’ll cover the following concepts:
1. What are the top 5 modern money traps in 2024?
2. How can we make wise financial decisions?
3. What are some common habits affected by the lack of savings?
4. How do I create a simple budget?
5. What types of investments are best for me?
6. What are some strategies for effective budgeting?
7. How important is upskilling for financial success?
8. What's the smart way to use credit cards?
9. Good debt vs bad debt. Explained
10. What is the difference between trading and investing?
11. How can one develop financial discipline?
12. How can we avoid falling into modern money traps?
13. Importance of budgeting.
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Connect with Us
INSTAGRAM - / assetyogi
TWITTER - / assetyogi
FACEBOOK - / assetyogi
LINKEDIN - / mukulm
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Website
assetyogi.com
#ModernMoneyTraps2024 #FinancialLessons2024 #AssetYogiShow
Early sign-up to the app:
assetyogi.com/sign-up/
@assetyogi
Hume konsi chizo par spending karna chahiye aur kaha par savings karni chahiye
Seems this also trap as you suggested in video
Yeah many times I tried to register but looks like it’s trap only I don’t know what early access you are talking about
Great advice ! Very True.
Few more points I would like to add
1. Have more than one income stream
2. Get financial education
3. Start creating passive income stream as early as possible.
Very good add ons
Any help on passive income
13 minutes passed so easily, it signifies the value of the content in this video. 👏👏👏
Thankyou so much!!
1st..health insurance.. Nxt term insurance.. 3rd income-saving=expense rule.. 4th Upskilling.. 5th invest little but must in mutual fund at least for15 yrs
15 years 20 years mutual fund is a worst planning
Why we need a term insurance if we already have a health insurance?
And what would be the value of 1 Cr after 50 years from now ? If life expectancy is 80 years for a 30 year old man.
@@apz7645 what happened if you die accidentally or due to some critical disease ?
u missed health insurance one hospital bill .. direct middle to lower class
Right bro ❤
So true!
You way of explaining is phenomenal
As Always Great and Informative Video👏🏼
Hv been following you for many years…. I dont know why but i trust ur every single word…. If i hear something from other source, i quickly watch your vdo on that topic… nd then trust… thanq so much for all the information..
This man is best financial coach on youtube
Supremely informative video, very very helpful sir, thanks a lot for your high graded advice.
Practically true and well explained keep it up
Thank you for valuable analysis ❤
Thank you, Valuable info !
Perfect examples!
You missed another money trap I have been observing in this generation eating out at expensive restaurants and bars pub. I feel Gen Z spends a lot of money on partying which could have been invested.
Yes
Yes, it's basically spending on wants more than needs.
Great content 👏❤
Agree with all points mentioned.. Sometimes, your "Wants" can be a good anchor to get motivation for upskilling or pushing yourself to get out of comfort zone and try out new things. This can be a good habit because human mind and system works well when we attach rewards (wants) to any activity.
rewards act similarly cheap or expensive choice is urs
Really helpful.. Thank you
Valuable video. Investment and track ur spending habits. Budgeted spending. 👍☺️
Really informative and must watch video for everyone
I wish i could meet you once Mukul.
You are an inspiration of many.🎉
Thank you!
Thanku sir
Awesome explanation sir
one of the finest video ur all video
The Best video ever❤❤❤
Sir main apko , apke start se follow karta hu.. jab mic quality b not so good thi lekin content tab b top notch tha aaj b ..
Apki growth dekh kar bahut acha lagta h 💯 apne mere jaise bahto ko aware kiya hai
Keep going, keep growing 🤘
Valuable video Thankyou sir and God bless you ♥️
So nice of you! May God bless you too.
@@AssetYogi Sir ek request hai Tax ke upar ek Video bana ke samjha denge konsa asset mai kitne tax dena padta hai aur kaise kaise tax bacha sakta hun? Please sir 🙂🙏
Your each video means a lot..
Thnk u bhaiya very knowledgeable vdo..
Thankyou so much!
Super informetion 👍
Thanks 👍❤❤
thank you
Thankyou sir
True , good content ❤😊
ਬਹੁਤ ਵਧੀਆ ਜੀ🙏
Thankyou!
Amazing information and very well summarised
Glad you liked it!
Mukul Sir! You're awesome. This is what is required to be financially strong in life. Others are always provocating to go into digs. You're the one trying to save.
Thankyou and Keep Growing!
I have max exposure in debt. What to do to shift or new exposure in equity
Great content 🎉
Top class video knowledgeable 😊
Thank you sir
Very nice information... thanks
You look very honest and hardworking mukul sir keep educating us, our youth needs teachers like you. Thank you so much😊.
Glad to hear this. Keep supporting!
Sir, jai Hind and namaste sada vatsale matrubhumi.
I always wait for your video.
Bahot badhiya 🧡
Great video as usual..Thanks Mukul Sir :)
Informative Video, Thanks.
Thankyou
Very easy to explain to my daughter . Thank you Yogiji
Useful information
❤❤❤My favourite channel
Valuable video...thankyou sir
Thankyou!!!
Thank you so much sir ji 🙏🙏💐💐🌺🌷🥀
Very very informative videos 🎉
Every video is very very informative 🎉
Excellent presentation..... hat's off to your 🙏
Thankyou!!
Very good and informative video.
nice explanation
Thank You Sir
Most welcome!
Very nice information
Amazing video.
Up skilling is well taken point I feel. Not only the investments but also your skills can help you to make more money
Yes, absolutely!
Very Nice Video...Thanks Sir ji
Good episode
Thanks
Thankyou!
Good information sir j
Great seeing you grow 👍👍👍
Thankyou for supporting!
Badiya laadle....
Thanks sir for suggestions
Always welcome
Well explained and valued one
Thankyou
Hello Sir I like your context every time and use to watch your videos but I have a question If you can please answer that for me.
NDTV profit logo in left top corner, Why❓
I think there are many more you want to know why Adani NTDV is flashing on your video.
Great explain it one heart for you ❤
Thankyou!
This is the Best video of savings.
Thankyou!
😊1 no video sir jee.
Nice information sir, this valuable.
Thanks a lot!
Very nice video
Very knowledgeable vedio sir👍
I have 1 question, I am investigating in sgb since 2021. this year for sgb I took loan on my fd of 90k(fd of 1L) 1%more intrest than paid to me.
Is it right decision?plz suggest.
I have no other loan.
Hi Sir, Can you guide me for the investment. Where and how to make good investments?
Excellent
Thankyou!
Excellent sir
Many many thanks
🙏🙏Great
Hello Sir, is it true that tcs 20% change into 5% in coming financial year?
Very nice video sir
Income tax ke liye parents ka health insurance ke liye konsa insurance achha rhega jis se tax benefit mile es pe video le kar aiye
❤Excellent Video by Mukul
Sir please make videos on etf which is good one
Nice information👌
Thanks
What is casa account why show bank statement casa linked status . Please create video
Good information sir 👍
Thankyou
Nice Video
Awesome
Thankyou!
Please answer these two questions.
1 - Can a bank pledge SLR quota government securities for borrowing under repo rate?
2 - Can a bank pledge SLR quota government securities for borrowing under MSF rate?
Only one question. Tell me where I can get the jacket you are wearing?
Thank you for this information But I have one question how to do Financial planning when your income is not fixed like if you are freelancer, self employed,business etc please make one detail video for this category
Noted!
bahut hi shandar sir
me aap ki bahutt video dekhta hu sare acche hai
Thankyou very much
Nice information
Thanks
Assessable video 🎉😅
Yogi ji,
Great work❤❤❤❤
Thankyou
Tab Tak Seekthe Rahihe,Kamate Rahihe Aur Hamesha Ki Tarah Khush Rahihe
Sir please ek vedio home budgeting kaise karte hai ek vedio banaye.
Best video ❤
Please tell me how to select mutual funds?
How to select