Hey chaps and welcome to this video, I’m going to talk about the importance of Think about past monetary misconceptions, to improve your personal finance and how to prevent them, Make these mistakes again in the future. Thank you for watching the video. Remember so far, Give it a thumbs up, sign up and resounding the buzzer to help YouTube’s algorithm now again, Video Now the next step for me, since I’m now, debt free is to think About how I ended up in this position. To start certainly becoming debt free, I was in debt, So why did I end up indebted so well, I’ve talked about it before in almost every years. A decade ago I was just spending petty. Let us see that I graduated from college. I wasn’t thinking about my future at all. You know I was going any coin. I was cashing in The only good thing I did at that. Time was one of the first things I did was clarify A credit from uh a university loan from the university. So I had about 16,000 uh student debts And I cleared that in a year or two thinking of quitting the university now student obligation Lookings like crazy bots in the time , not too bad, so it was 16,000 for four years in college. Now I realized one business mistake after another that I didn’t say to my future. I didn’t invest my coin. Whatever money I came, I know I threw away so much better until I finished At one point. I ended up in debt and then, when I ended up in debt, I was one These are people who culminated up as part of the heinous payday lend round that we’ve been dating in the UK, All those times been going on. So what if you don’t know where I objective up abusing a single payday lend, Literally to pay off the other, and because the interest rate on payday lends was Ridiculously high, uttered that hertz nearly impossible for years now, since then, The nice thing is that the various Bureau in the UK love the Financial Conduct Authority, The Financial Ombudsman and all of these other entities are already mashing these lenders to make sure. Never again a cap was initiated. That says you cannot recharge Or you can’t give. Let’S say if you loan out 500 pounds, you won’t be able to get back more than A
To protect consumers, regardless of duration and so on and so on. So this is the whole point of many of the previous videos on the platform. The rationalization I’m thinking this now is because it’s okay to be debt free, and I don’t I want you to end up in this situation again. How can I make sure it doesn’t happen again by following What I learned is simple, because there is no greater teacher than spawning gaffes And draw lessons from them says Yoda. So it’s really important to think about past mistakes. My lesson learned simple, because you know I’ve made a lot of misconceptions in the past and won’t procreate them In the future. Then, if you’ve been following my videos from the beginning, you know that How do I administer my occasion? How do I administer my daily to-do list? Look at my to-do list on the other screen. Also, how do I finagle my coin and how do I stay on top know how to make sure of it? Everything is going so smoothly. How am I merely buying hoax stuff? I can afford and trash Like that, because it’s a much better life instead of buying things on credit, I’m buying things I can simply yield to buy it. So I’m never because buying things on approval to me is Basically like taking a loan to buy something. This path I kind of see it. So all of those I bought upgrades, so I bought some brand-new illuminations. As “youre seeing”, I bought new observers. I bought PlayStation 5 and that’s it because I need these for business uh, I’m a material producer. It is good that they unquestionably crave and do not need uh, but it is good that, Because I am now indebtednes free, I have managed to get some of my needs as well. So delight check once Against the needs, video, where I made it clear. The importance of distinguishing between the two so that I still do With everything I have learned so far about personal finance, about managing my money properly About Liv sparingly. What I learned from other content founders on the programme like Graham Stefan and Andre Gegh. It’S truly important that I think about it and abide that mode So point to me: I don’t want to go back to where I knew I didn’t want to be In debt again now there are some things I have heard about the importance of having At least One credit cards, so you can build up credit and all of these other things. But I need to look for it more Because I’m still just wait my finances to go up and maybe I’ll make a video When that happens, because my recognition datum still be explained by the fact that I owe it, but because It may take a while it may take A few weeks to get rid of it wholly, but once it gets there, I get what I stand for, if I get an email saying, your business rating has jump-start 200 objects or Whatever the example next I’ll share that with you, because I want to be an Inspiration for that, I guess now, if you were in my orientation and there was any point in the future it could be today – You could be 20 times. It might be 100 years from now. If you were finally at that point now, You have cleared your indebtedness. This is a good time to think about your past financial mistakes and make sure It doesn’t happen again in a simple way, because you’ve learned your instruction:
Have you meet the most difficult A picture of where you want to be with coin? Isn’T it accessible that you are now debt-free right, Relax because I’m someone I need. I needed this experience to be completely honest. I needed That’s right and I’m glad there is now in the bigger picture, a positive feeling, I’m because you’ve made me good, let’s say “ corrects ” for the past 10 times, but now I’m 36. You are helpful in me in the next 50 years. You know I entail when I set it in these terms. I think it was Well. I made some mistakes to really learn those assignments, as well as realize the bigger picture. You know it’s so good to know, because now it’s the end of the month, so now is the time. Jan 28. I was recording this video that I have no debt pays today. It will be the day the 200 pounds leave. My bank account to pay off the debt Instead, I is to be able to keep the money , not that immense, and I have to keep it from now on So hold onto those positive feelings and too, if you are still there and You still work for it.
Know that this awaits you, Money does not buy you happiness, But at least it buys you the possibilities and buys loosening from my own experience. So yes, more The content that will come on this canal, satisfy uh check it. My plan for the future of the canal is Show where the money is going and how I will help the money grow and then hopefully Someday in the future. I will be able to say that I have bought a mansion knowing that this is the next step For me, because when thinking about now that I’m debt free, I need other purposes for the money. So, And I mull the good purpose is to buy a dwelling that simple, so, let’s need to go, I know in those observes below uh what your thoughts and what, if you came across this, What you say will be the next best step after you settle your debts Anyway, guys I have relation my other videos to this one. Please check my direct. It’S all about personal finance, especially check out our How to Make and Stick to a Plan. Video