7 Things You Should NEVER Skimp On
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- Äas pĆidĂĄn 2. 06. 2024
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In this video, I share 7 things you should never skimp out on
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TIMESTAMPS:
00:00 Accelerating knowledge
01:28 Milestone memories
03:02 The golden triangle of health
03:51 Tools with diminishing returns
05:04 Safety and security
06:13 Hiring professionals
07:10 Retirement savings
đ§ĄDISCLAIMERS & DISCLOSURES
This content is for educational and entertainment purposes only. Nischa does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
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Watch my FREE Masterclass 'Four-Step Routine to Financial Freedom' nischa.me/wealthmasterclass
1. Accelerating knowledge (invest time, effort and money)
2. Milestone memories
3. Golden triangle of health (sleep, nutrition and movement)
4. Tools that have a diminishing return
5. Safety & security (e.g. insurance)
6. Hiring professionals
7. Retirement savings
Cool user name
*If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation*
Interesting, This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro Investor?
Mrs Tracy cool services was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Tracy.
Tracy cool services is known for her impressive career. She has served as the CEO of Berkshire Hathaway-owned Pampered Chef and has been recognimd as one of Warren Buffett's protégés
I'm a bit perplexed seeing her been mentioned here also Didn't know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super,
I reallywant to get my life together. Really me and my family has been into series of we've faced a lot of trials and tribulations and my income is not just enough
Agree. In terms of physical items I would add shoes and mattress - always worth paying for better quality.
We didnât have a wedding because, aside from being introverts, preps also cost a lot of time and energy - a lot of effort for just one day of your life. So instead, we took multiple vacations and made multiple lasting memories. And we still had a lot left to pay for the downpayment of a house.
Never skip the opportunity to spend quality time with your children - they grow up so fast and before you know it they are ready to fly the nest đ
This
Very true
What's the point of having kids if they're just gonna fly away and forget you?
@@jollyjames30?? Theyâre saying ready to move out and live adult lives. That doesnât mean forgetting you.
True đŻ
I always celebrate my birthdays in a big way. It doesn't mean I splurge money on useless things, I do adventurous stuff to remember the day more. My birthday was a few weeks ago and I went for shark diving; the previous year, I did the Sydney Harbour bridge climbing. These memories will stay with me for life!
Birth control.....do NOT skimp on birth control.
I donât skimp out on a good pair of shoes that Iâll wear everyday or hiking boots! I bought a $150 pair of sneakers 3 months ago that I wear all day everyday. I wear them for work because I have a very active job where I need to jump, run, climb etc and I wear them for my gym classes in the evenings. Owned them for 3 months and barely any wear and tear yet. The $10 shoes I used to buy would only last me a month! The new ones also support my feet so much better than cheap ones. The hiking boots I have, I bought them 4 years ago for $200 and theyâve saved me from sprained/twisted ankles so many times. Good shoes I reckon is a good investment for your health and well-being.
We love glamorizing effortless success, but success is never effortless. This shit is inspiring!!!
genious sentence!
Thank you for all these reminders !!
Only celebrated my birthday twice as a kid and decided to celebrate it this year. And now earring what you said about celebrating milestone makes me want to enjoy it even more đ
Absolutely agree on the importance of investing in milestone memories and personal growth! Prioritizing experiences and quality relationships over material possessions truly leads to a more fulfilling life. đ
find balance between investing and enjoying life. you never know when will your last day.
Yes, that's true.
Agree. Time is the most valuable commodity. The journey to achievements creates the memories and self esteem. Get the balance right and money will follow.
Your maturing is obvious in this video. You will continue to mature as time goes on. Some are better than others. IMO, you are a role model of a 'successful person', in many regards. You have a unique ability to motivate others. Nice to meet you!
Okay i love you! Thanks for all these videos!!! đđ
Really enjoy your videos Nischa. As a banker I understand all of this quite easily, but hearing it from someone else for some reason, just hits different. Also, your advise is sensible and reliable - very refreshing where the online world of financial advice is full of charlatans!
Youâre creating so much value. Iâm happy that iâve discovered your channel.
As usual, precise & to the point
I 100% agree with your 7 Nischa - thank you. I would like to add an 8th, more important than all of your 7 added together. Personal friendships, be it your partner, family and friends. One biggest regret of end of life people is letting old friendships evaporate over time. Life is just miserable spent alone. This is a real life investment. Keep the vids coming
Agree - keep great relationships until our hair is gray â€
Loved this episode. I learn so much from your videos
Absolute gem. 100% agree
Thanks Nischa đ§Ą
Thank you for sharing your insightful wisdom!
Thank you. Nice summary of good advice. I'm glad I've subscribed.
I am so happy that I subscribed to your Chanel. You teach so much more than I thought I knew about finances and investment planning.
This is true value Nischa! Thank you so much for your content
I'd love to be so well-articulate as you aređ„č†I love your videos so much! Really informative!đ„ș
Another thing you should never skimp on: priceless financial advice from Nischa! Thanks for all the effort you put into your videos đ
Revux's team is top-notch. Expecting big developments soon!
1. Accelerating finances
2. Milestone memories
3.golden triangle health
4.tools diminishing returns
5.safety and security
6.hiring professionals
7.retirement savings
thanks - saved me8 minutes
Thank you
You guys are missing all the details though
It's knowledge not finances on #1 đ
Other things I have learned not to skimp on:
Toilet paper
Coffee
Any brown sauce other than HP
Cheap trainers (running shoes/sneakers, etc)
Arguably not as important as Nischa's advice to be sure, but trust me đ
Agreed! Little things that brings you small daily doses of happiness should not be skimped on đ
6:00 a raid 1 mirrored NAS for your important data. If one drive fails, no problem, swap in a new drive, the array rebuilds itself, no data loss. So many people go through life with a single hard drive point of failure and suffer the consequences when it fails
Lasting memories also means going on vacations. It can be a meaningful weekend, long weekends that allow extra travelling time.. Even the occasional short workday that leaves room for an exceptional work-week activity.
One of your vidoes really really helped me. I am so glad I found you. I found you by accident, but I am forever grateful and forever changed by it.
i thought the lighting was extra nice this video!
I love your videos!
they provide so much value to people like me.
thanks for sharing your wisdom
love from india!
Great video. Learning so much from you. Thank you for sharing.
A comfortable bed and a quality pair of shoes......because you're always in one or the other!
Me, hanging out barefoot at a beach;
Nope.
shoes are crap. Your feet need freedom
@@shto4782 Grow a pair!
I'm without shoes more and more... feels much healthier and freer. đ
I absolutely love the advice! When it comes to your health, sleep is so important but how should mums of small babies do it??!! It would be amazing if you could dedicate a video to the health (including financial health) of mothers because it becomes difficult when you are taking care of a baby but at the same time want to reach your financial goals.
Just wanna say I appreciate the insight as well as the wonderful graphics overlayed on top of the video to drive the points home visually. Appreciate what you do - keep it upđ
Belated Happy Birthday! Totally agree with everything you have said in today's video except may be milestone memories. I prefer to keep that small. I usually gain knowledge when I join classes. I can never buy a book and read it on my own as I lose the motivation to read after the first couple of days. Using a real estate agent when buying or selling property, using an accountant when taxes get complicated, gym membership, living somewhat close to work (paying high rent, high property price) so that commuting to work is not stressful, buying high quality items for everyday use such as clothes, shoes, furniture and appliances are some of the things that I have done. The only regret that I have is not saving for retirement seriously in my 20s and 30s.
Excellent advice!
Hi Nicha, how do you have these insights so early? Is it from books you read or coaching? If books, what are your recommendations?
Drop your skincare routine please!
Belated happy birthday. Thanks for your valuable advice and wisdom as always đ
Curious to hear what your new setup is regarding microphone and camera.
Nischa love your contents!! please do make a saving tips video for studentsâ€
Revux's roadmap looks promising. Exciting times ahead!
Bot.
Good stuff Nischa, good reminders
Good morning Nischa and a belated Happy Birthday. I wish for you continued success and enjoyment for you in this next trip around the sun. This discussion was spot on! Great discussion and sharing of your experiences, thank you. Keep up the great content and have an excellent week. Larry, Central Valley, Ca USA
I love this đ«¶đ»đ«¶đ» thank you!
I don't scrimp on hotels when traveling. I used to be a Motel 6 kinda guy, but that extra 40-50 dollars makes up for it with the quality of sleep you are able to get
Happy belated Birthday! And thanks for sharing your knowledge with the community, its been helpful!
I love your channel, it is so informative and helpful. Is there a UK equivalent of your channel?
This is the UK equivalentđ
đđ
Thanks for mentioning the Spanish,,,proud of speaking it by nature :D
Intellect and beauty. I am in loveđ„°
âA wedding is like an IPOâ. That made me laugh so hard. What came to my mind when you said that, was me selling shares of my potential wife / sharing her, with all my closest friends and family.
But I get your point. My mind just did a brain fart thatâs all.
I thought about this exact topic for quite awhile . . this is the 1st video Ive seen covering it, decided that my #1 don't skimp on was ..Tattoo's . . .never get a free tattoo kids. .Funny I don't have any tats but somehow that still made my #1.
Real-brand Cornflakes and Weetabix. So much regret trying the cheaper brands... I need a hug.
Personal experience here. If there is a good quality certificate that will help you progress!!! Definitely go for it!!! Pay for it
Good advice, Nischa!
Loved your videos, watched most of them. Good stuff !!!
I've been in finance myself for 10 yrs and then business and in IT for last 10 years. So feel like there is lot of stuff to put out, so want to start on the journey like yours. Finding it hard to get much views, so wondering if you will have a course as to how you got your success in this niche, or we can collaborate on content, I can produce lot of it from my experience that will be useful.
Thanks
Most underrated creator †dropping truth bombs back to back......
Revux's low presale price is a steal. Time to load up!
Happy belated birthday!!!
And a belated happy new year đ
Here are the key takeaways from the video "7 Things You Should NEVER Skimp On":
1. Accelerating knowledge - Invest in gaining knowledge and skills, whether through books, apps, classes or tutors. Paying for expertise can accelerate your growth.
2. Milestone memories - Spend money to celebrate and create lasting memories for major milestones like birthdays, weddings, graduations. These memories are invaluable.
3. Health trifecta - Don't skimp on sleep, nutrition and movement/exercise as they vastly improve all areas of life.
4. Upgrade tools - As you grow, invest in better tools to support your progress when basic tools are no longer sufficient.
5. Safety and security - Pay for insurance, safekeeping of valuables etc. The peace of mind is priceless.
6. Hire professionals - Hire experts in fields like law, taxes, training as their knowledge saves time and money long-term.
7. Retirement savings - Start investing for retirement early to leverage compound growth over time. Pay yourself first.
The overarching message is to thoughtfully invest in personal growth, health, asset protection and compounding for the future - as the long-term benefits far outweigh any short-term savings.
Absolutely agree with investing in health - diet, sleep and movement. Considering we spend almost a third of our lives in bed, we seem to neglect looking after our sleep. After a lot of consideration, me and my partner bought a new expensive and super quality mattress and it has changed our lives. Waking up feeling refreshed and ready to start the day makes a world of difference in physical and mental health and productivity - a well worth investment!
Been tracking Revux's development. Impressed with the progress!
Another great videoâ€
Would the chops be cooked in like 15mins ? I don't have a oven grill but a gas stand up cooker with a grill would that work?
Thank you Nisha for your videos, I really listen to everyone of them and enjoy them because they are genuine and real life principles. Very easy to understand and addresses different topics that are very important. Love it
Great lessons.
Hi Nischa, love your content, I was wondering what dermatologist you know of that is trusted in London. Would be grateful for your help. Thank you :)
Love you, Nischa. Thank you!!! đ«¶đŸđ«¶đŸđ«¶đŸđ«¶đŸ
- Accelerating Knowledge
- Milestone memories
- The Golden Triangle of Health
- Tools with Diminishing returns
- Safety and Security
- Hiring Professionals
- Retirement Savings
Red Adair puts out oil well fires for a living and has some great quotes regarding the topic of this video:
"If you think hiring professionals is expensive, try hiring an amateur."
"You can have it fast, you can have it good, you can have it cheap. Pick any two."
Makes perfect sense. Thank you.
Usually agree with almost everything you say, but I disagree on the safety and security one. I don't think it's about just thinking how you would feel of the worst we're to happen (because if you follow that logic to the conclusion you would just spend like crazy on all kinds of insurance type products), it's about weighing the cost, probability and how you feel. Unless you are likely to have an emotional reaction to something then if you can comfortably afford to do so, generally it's best to self insure. Why let the insurer capture that margin?
How to we gain these much knowledge about financial and were is that one roadmap that shows it all
Nisha please make a video about what to do once you reach ÂŁ100k. I love your channel and your advices
just what i wanted
As you used to work in investment banking, please talk about how best to deal with the restrictions on which brokers can be used for personal investments. I'm trying to find a solution and have so far managed to keep my investments but it's been a real headache and I'm not seeing anyone talk about this issue in the personal finance space on CZcams. Thank you
Love these tips. Thank you
I can't thank you enough for being there
Thanks Nischa!
Agree on all except for the wedding. You don't need to spend a ton of money to get everyone together. Overall it's a waste imo unless you're truly rich.
Just enjoy every day, for tomorrow is not a guarantee , for sure plan for the future but donât ever forget to take time an look around at the moment you are going through now. Happy belated birthday đđŸ till next time
I figured out that investing in a good bed and even better mattress with quality duvet and pillows really make a difference to my sleep and the mood I wake up in.
I agree, once I've decided to change everything I've taken a big risk and every single day from that day I keep learning new skills that it gets to the point where you realise its not about the money anymore its the feeling and the person I become everything else falls into its place, thanks for your videos they're great!
Great post , thanks !
love this
I first like the video and then I watch :)
Hi Nicha, I am so excited to see your inspiring videos. The video will be different to can you change this black top?
When it comes to a wedding just rent a field or venue and have a party ,don't mention its for a wedding and celebrate and just go to a registery etc... so much cheaper
PLs suggest a good budget mic for videos like you make and lght
Underrated youtuber. Thank you Nischa
Excellent suggestions - especially safety & security. Don't forget travel insurance no matter what your age. My friend in her mid 20s is now out of almost $5,000 as she booked a European cruise and land holiday with a friend whom she fell out with 2 weeks before departure and had to cancel and got nothing back.
Should have went solo
I disagree. I personally prefer to have a bare minimum of insurances (only the mandatory ones such as Healthcare in the Netherlands). In the long run, you will save more money if you have to reimburse once every while than having a recurring payment that you wonât use. Besides, most insurances come with so many if and buts in the contract.
Having insurance wonât always guarantee that you will get the money back. In the contracts there is much small print stating circumstances that disqualify your claim that itâs sometimes better to lose the money than pay a lamp sum every month and lose both.
Hi Nischa,
Get video, who did you call for tax information as I'm based in London too..
Thanks
Absolutely amazing advice follow all your videos excellent information and brilliant way to give it 10/10
Key tip: Pay yourself first! Invest in yourself, invest in your future, build for retirement now!