Fly Emirates Business with me While I Review My Finances
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- čas přidán 1. 06. 2024
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In this video, I share how I review my finances annually while flying in Emirates Business class to London
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TIMESTAMPS:
00:00 Heading to the airport
00:45 Step 1. Download bank data
01:23 Step 2. Consolidate into one format
02:53 Step 3. Rename transactions
03:22 Step 4. Categorize spending
04:58 Final step. How to analyze finances
🧡DISCLAIMERS & 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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I experimented with a new video style for you this week! Let me know what you think 👇🏼
@@MS-oy8jrcalm down son and get a new pastime lol
It’s lovely keep it up
A good way to put the flight down as a business expense
Loved it
This is better
I did the year review exactly one time. I realized I didn't like to put in a couple of hours on a yearly basis. For me it is way easier to do this on a daily basis. I've consistently been doing this for four years in a row now and I only spend a couple of seconds every day that way and have full insight all the time.
I have started to do mine on a weekly basis, definitely helpful to add it as a recurring routine than having to do a bulk update because it also helps me spend consciously as I go and allows me to be intentional about what I want and getting it. 👌🏽 I am also excited to see what the overall picture will look like at the end of the year 🙂
Same, i now do daily or every 2 days and build a habbit
How few transactions and accounts do you have that it only takes a couple of hours for a whole year’s worth of transactions?!?! 🤯
yep the yearly review seemed like a HUGE dedication. I typically try and sit down and o mine weekly. Sometimes Bi-weekly.
I felt silly doing manual checks on my bank statements in the past, but seeing you do this deep dive has been validating and inspiring. It really matters to devote time to reflect on spending habits you may not be aware of.
I created my own Excel finance spreadsheet 12 years ago when I first started on my journey towards improving my personal finances and financial literacy. I update it daily, and each category has its own tab within the overall spreadsheet. I review it once a week and then a full review at the end of the month and use the figures to set myself targets for the next month (like how many ‘no spend days’ I am going to set for myself, etc…). When I first started doing this 13 years ago, I hated it. Now, it’s my favourite thing to do because I’m really managing my money.
I made my own excel spreadsheet too -I use it every day! Sounds very much like yours🤓😍
@@MoneySmartMum Fantastic. I love being in control of my finances. It brings me such piece of mind.💕
The annual review is a fantastic exercise that I think everyone should do. I've been doing it for over 15 years and it is remarkable to see how things change as we go through the various stages of our life. Great video as always.
I am grateful for an eye-opener idea of how to structure my Excel spreadsheet with expenses - it is way more informative for me when I divide my expenses into these 3 categories. I was happy to see that generally I am on a good track of being 50-60/20-30/10-20 percent but also it does give you more insights when you actually distribute each item to each of the categories. Thank you Nischa! Hope you hit 1M soon
Love the video! You have made such an impact on my financial awareness - thank you for that! Wishing you continued prosperity and success in all you do!
I know this is about finances, but the breakdown of friendship types is eye-opening! The Fun Friends, The Loyal Friends, and the Future friends. Thanks for sharing
Everytime I do it, it's almost a reality check and I ask myself what the hell in some cases. And sometimes I don't even understand what the hell I spent money on. It's such a valuable exercise and a good reminder. That's for the video Nischa, loved the format!
Just tried this for Jan and Feb of this year and oh my gosh. I’m shocked how much I’m spending on groceries per month grabbing bits every few days from local supermarket. Will keep this up on a monthly basis to see how I am going compared to the intentional tracker!!! Thanks so much this is so useful
It was so helpful to see how you do this! I like the manual approach too. Thank you!
Nischa - Great video, I think the same way about finances and how to manage them the way you did into, I keep everything on Excel every month so I don't miss a beat, great work!! Keep up the good work.
Been a supporter of your content for a while now. Truly appreciate the gems you’ve either re-confirmed for me from how I did things before or provided new tools to help make it efficient for me to get things how I want financially for myself. Thanks for your content Nischa! 🤝🏾🙏🏾
Thanks. Your intentional spending tracker with 3F's helps me a lot when it comes to track monthly expenses and have a closer look.
Being self employed myself this is super helpful 🙏🏼 would love more self-employed financing advice in the future if possible 😊 Thank you so much Nischa 💖🙏
Love this style of video too! It complements two topics and it’s a way to know more about you!❤
Funnily enough I was thinking of doing some sort of annual/half yearly check on my finances, but wasn't sure how to do it. Then comes along this really interesting video on how to do it! So thanks Nischa for the guide i will definitely give this a go soon!
loved the new style, nice to see a glimpse of your personality, also loving your travel outfit xoxo
Thanks for the video Nischa, I like this format! Going to definitely do this!
Great format Nischa and a lot of work much appreciated! Using filters and replace all in your spreadsheet should make classification so much easier and quicker 🤗
Love this new video style, Nischa! I also loved how you exchanged seats with your partner midway so you both could experience business class and none of you got left out of the experience. I have been doing monthly cost analysis for a while now, though I have not tallied my expenses for the past 6 months, which is a good reminder to get back at it. Yearly really is a game-changer though - it would really bring clarity into spending patterns and how I'd like my money to work best for me. Always great advice, thanks for sharing!
I’m doing a monthly analysis (so did Jan last week) and find this makes me more accountable and sets me up for the next month ❤
Valuable and practical as always. Thanks Nischa
More videos like this please! Love the format! ❤
I actually made my own budget tracker based on your other video, and it is quite insightful :D It motivated me to get back to my gnucash accounting and start going through all the bank statements I've imported (neglected it since 2019). Wasn't really using it yet to track budget/expenditure. But it came in handy for tax returns to have some stuff readily available and split into certain categories using general bookkeeping practices. Hopefully will have it finished in a while, to be able to setup some budget tracking and combine it with the Excell sheet.
Thank you for the inspiration and motivation :D
You have made finance so much fun for me. Gained a lot of knowledge about it
Love this take on the talking head format Nischa. Great work and taking copious notes!
Thank you!
Thank you for not making this a 25 minute video. Your concise teaching is so refreshing, not to mention effective. I also notice you don't have a "giving" category. Where would you put that on your list? Future, Fun, or Fundamental?
Generally, I had the same approach a few years ago.
Anyway, these days you can be easily profile with information presented here. Very brave video.
I like the way you make things easy to understand and implement in a practical way.
Thank you
Amazing video Nischa you are incredible and i wish you all the best thank you for all the advice that you have given
Love how you simplified what always feels to me like a very daunting task! Do you have any suggestions for how to track (physical) cash expenses (i.e. expenses that wouldn't have shown up on bank or card statements)?
Fabulous! Appreciate the clarity and focus you bring to organising one’s finances.
I was once in Lombok and had Lychees peeled for me 😉
Incidentally which model Mac do you use? Air or Pro?
The new format is very engaging. Top job!
Great video as always. Thanks Nischa! Love, from Brunei.
Wow this is a refreshing take on a stressful part of my life. Love love this format, keep vlogging
You are too kind Nischa! I wouldn’t of swapped half way through when I’ve set myself up and got settled 😂 The little cakes in the lounge looked tasty 🧁
Your content is amazing it's really helping me focus on my finances and looking at it from a different view. I work as a data analyst and love your channel and content. It's the best feeling to me in the world when we can serve others and give back. I too have given up a lot after being at the top of my career and realizing that the happiest time for me was not making a lot of money which was good to do but at the same time neglecting family. Keep up the great content and may God bless you and your family.
Was looking forward to this video! Great stuff!!
Good stuff!
This year, I started tracking my actual cost vs budget and doing some variance analysis (some might think this is extra😅). I build models and do extensive analysis month-on-month for my employer - It struck me one day to do the same for my personal finance, I owe that to myself at least lol.
I now track my spend to the last dollar - the Revolut app also helps!
Always enjoy your videos! In December of last year I had come across your videos and you had inspired me to take a deep dive look into my finances so I ended doing what you did in this video, downloaded all my statements from cards to accounts and month by month took a look at my spend. I had bought a condo in the early part of last year but never took the time until the end of last year to audit my spending...and my oh my...was I shooketh LOL Doing the deep dive was really an eye opener to see that I was essentially spending as though I was still living with my parents even though my fundamental costs had massively increased. I have now set-up your tracker to track my expenses weekly, it's helping me to be more mindful and now as I venture into looking for a new job..understanding my expenses will also help me to understand what my salary asks need to be. So thank you for these videos and advice :)
Great video thank you Nischa !! During the past 1.5 years I've completely transformed my money habits: sticking to a fixed budget and savings plan and I finally started investing and an upcoming side hustle - all thanks to you!! It's going really well and I feel so much better now and in control of it all! I'll forever be grateful to you for that!! Keep doing what you are because you're truly the best at it!!
Soo happy to read this!
Randomly clicked fast forward and then: "I order a glass of champagne to drown my sorrows" golden!
Thanks for sharing this moment, srsly appreciated :) After all, we're all just human.
Keep up the good content!
I really enjoyed the fact that you specifically touched on the transportation factor more specifically uber VS owning a car. I had that conversation with myself just yesterday when I was trying to figure out whether I can justify using an uber to transport myself to work and back home VS if I should rush into getting a car or new apartment closer to work .. I finally landed on what the numbers were showing me which is it's okay to use an uber as my daily transportation to and from work during the week and use buses for my leisure and entertainment transportation over the weekends because it allows me to have time to myself in the morning and the evenings where I can also read during the commute / relax / catch up on final work related things I'd love to wrap up before getting home. Also, since someone else is driving I can feel less stressed should I have to commute during peak traffic hours etc .. also, it's more comfortable to not have to shove in and out of a bus each day .. blah, blah .. anyway, after going over everything - not just in my head but also on paper - I determined that it's actually cheaper, more convenient and more helpful to use ubers for the daily commute to work to also allow myself a couple of months to save so that when I finally move into my new apartment I can do so comfortably and not feel like every month is a struggle. So thanks for the reassurance that if it's helpful enough for me, it's okay to continue doing that thing because honestly, it makes the better financial sense for me to do so while also trying to build something else outside of my job 🙂
Amazing you can get work done on an airplane... Excellent video as always, TY
Enjoyed the video style, nice to see someone vlog a successful lifestyle without a bravado. Thanks :)
Excellent video, enjoyed the new style. Also enjoyed your course so far :)
Great change of pace. You come across as more tangible as opposed to the rather static head frame. But you would look good either was in my humble opinion. All the Best!
I'm not sure about this, I think it's something that works for some people but not others. I work many hours, almost all my awake hours so when I do have some down time I don't want to worry about how much it costs. Sure, by tracking your spending you can save some money, but it's way easier to make money than it is to save money so I would rather put my time into making more. There's only so much you can save but how much you can make is limitless.
This approach to finances can keep even the richest people broke.
Wow madam.. the way you maintain the expense excel.. its amazing
Yes I like the editing. I wonder what's the best worksheet (simple) for managing my finance. Yes, a car is not an investment but for visiting family and friends it's practical.
This was a great video! Also the new format!
Hi Nischa! Please make a video about your favourite podcasts. You frequently credit good podcasts in your journey to financial freedom and moving ahead in life. I'd love to know.
Also, doing your finances on public wifi in airport lounges can be very dangerous from a cybersecurity perspective.
I already do this but on a monthly basis. That way I remember what I spend on + helps me to see my bad habits and cut my spending much earlier than if I had to wait a whole year
Everyones saying they prefer this style of video but I cant understand it? Whilst this is still a good video - everybody does this kind of vlog.
Most of us came for the financial advice and the fact Nischa is sitting speaking to the camera. That clean and clear style worked for me and is the reason I kept coming back.
However, I will still watch Nischa whatever style of video she does 😂😂😂😂
Love this new style of video... fun and informative!
Just love your channel!
Absolutely love this! Just be careful using public wifi to access your secure data, that includes plugging your devices into usb chargers as they can be hacked 😅
Great video, love these ones where we get a real insight into how you run your financial life. You mentioned you’d automated this in previous years, I’m curious why you decided against that this time?
I like this new style too, so inspiring ❤
You got it together nischa love your channel
Great video Nisha. 📹
Just curious how much time did you spend on everything...shooting, editing, and all.
Good quality video
I love the transparency, Nischa 😂😊
Fantastic video - nice mix of vlog + info!
Month to month is too much for me to input, so I’ve set aside 15 mins each week on Sundays to review my spending from the last week. It’s still very fresh in my mind, so it allows me to make notes and reflect. It also lets me see how I’m spending for that month in real time to give me an idea if I need to push some costs to the next month or if I have more wiggle room for fun this month
Hi Nischa, loved the new format. Info for you, in the automatic subtitles the code for t212 is written nisha, you might want to fix that
wow im early, Im like you went from corporate to startup, just learning YT as a side hobby not serious as yet. Also almost at a mill subs congrats!
very well done love flying business and first on emirates!
Great video. Is it a good idea to use public wifi to login to your bank? Aren't you worried about being hacked?
So simple yet such a good idea
Very insightful video, thanks Nischa.
This has been so insightful and beneficial for me. I’ve tried to do this for a while but didn’t know how. Will be following this guide from now on! Thank you Nischa, I hope the flight went well
Love this style Nischa
Informative content, will definitely review last year's finances..
I prefer to do exactly the same but on a monthly basis. I invest 1 evening per month, where I spend my time with finance (paying the paper bills + analyzing). I even have a calendar reminder for that. This way it‘s not too complicated and I can adapt more frequent.
By the way: I really like the new video format.
Great tips, i must try this out. Just wondering what you do to get the best rate of interest for money building up in your business current accounts ?
Hi Nisha, I like this different video format. It's hard to make talking head videos dynamic, and this nicely mixed up the formula.
Love the videos! Could you please do a more in depth video on how to use T212/ how you use a S&S ISA?
I like to do this now and again. I do it in a similar way by downloading the CSVs.
But from week to week I use apps like snoop which helps track things too
Love the vlog style video :)
I always make the mistake of putting them in too many categories. Im an IT professional so importing the csv files and automating the data to analyze, is a great exercise in processing the data in Sql Server for me
Terrific video! Is there any type of app where you can simply log all your daily transactions thus making it easier to keep track of your finances day to day and then transferring it all to Excel effortlessly?
A good video idea could be for people who live in the UK who are thinking of moving abroad to Dubai, Bali, Singapore etc. Like the pros and cons of making such a big decision
Great new format ! ❤
Great video Nischa 😍 ! What is your opinion on using apps as trackers. I use one of these apps for the last 3 years and add all my spendings every 2-3 days and have daily , weekly and monthly statistics right away. Is there a right or wrong way of doing it? Thank you! 🤗
This is literally amazing! This has inspired me to use this platform & actually get to work 😂 (we're saving for our wedding... oh boy!)
Nice job. Good process!
Hi @nischa, do you have a software to recommend to record once you analyse, a simple multi currency accounting tool?
This was so helpful thank you
This format of video is super cool!!!
I just was doing my year review as this video came up, helped me to refined some ideas, i was on a similar track, but i have 6/7 categories:
Education (How much i want to invest on learning new skills)
Bussiness espenses (Buying equipment and cost operations)
Health (Health insurance, suplements, medicine, etc)
Day to day expenses and fun stuff (Subscriptions, Gas, Gym, Fun, Social, Family, etc).
Vacations (Self Explained)
Fundamentals (Food and Home needs)
Investments (This is not a real category, but based on income and expeneses, i can keep track of how much i can invest or save)
Using the bank data is a good idea, i use a Notion template i made where i register my expenses monthly based on my bank information, and because Notion makes everything look visually cool and satisfying. For the review i'm using excel to make calculations and projections easier.
Nicest thing about this video for me is that you swapped seats with your partner. Very nice move!
How do you get the info from the statement onto the excel document - do you manually type them all or is there a way to do it quicker Nischa
I enjoyed your vlog style and think you should use it now and then!
Thank you Nischa nice video
God bless you 🙌
Hi. Nice video on personal finance analysis. I still don’t get how you do tedious spreadsheet data entries on a flight. I couldn’t imagine doing that - just napping or watching TV
I’m using an app to track my expenses on a daily basis which I balance with my credit card statement. Although I still need to do a monthly or annual review to figure out my expenses. The app makes reports much easier and less tedious when i decide to do so
I used to do this, but found no value coming out of it. So now I don't go that deep. Everything category of expense has a specific credit card. At the end of the month, when all statements are generated; I tally the balances/payments and know exactly where I'm spending too much. Credit cards: Essential expenses (Rent, Groceries, Insurance, Utilities, Internet, Mobile, Medicals) , Discretionary (Eating out, doordash, shopping, online shopping), Transportation (fuel, travel, hotels).
Honestly, Emirates business class is the best flying experience! I hope you enjoyed it!
Dear Nischa, may I suggest the Oral-B iO 8 electric toothbrush and the iPad Air 10.9” M1 chip. These are the latest devices and will perform better than what you currently use.
lol you joking right?
lol and that’s what you gathered from this video?!
Very interesting Video,thank you Felix from Zürich-Switzerland
Love this video!
I did this for my 2023 spending and I now have clear understanding where my money usually goes (spoiler: things that I can live without, don't cost much initially, but add up to larger total sum). Now when spending on those small things, I don't think of them as small anymore, and I am more inclined to not do it (leaving more funds to the Future category).
So true, it's about building the right habits!
I used to get an extra fancy sandwich every time at the supermarket and expensive strawberries, etc.
On a monthly basis that's easily €150 extra....