5 Modern Money Traps that will make us POOR in 2024 - The AssetYogi Show #11
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.
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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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Website
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#ModernMoneyTraps2024 #FinancialLessons2024 #AssetYogiShow
Пікірлер: 353
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13 minutes passed so easily, it signifies the value of the content in this video. 👏👏👏
@AssetYogi
3 ай бұрын
Thankyou so much!!
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.
@Rks123skr
3 ай бұрын
rewards act similarly cheap or expensive choice is urs
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.
@manjunathams8865
4 ай бұрын
Very good add ons
@RohitSharma-fe2bl
3 ай бұрын
Any help on passive income
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..
u missed health insurance one hospital bill .. direct middle to lower class
@jawahirprajapati7962
4 ай бұрын
Right bro ❤
@AssetYogi
3 ай бұрын
So true!
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
@abhiramabhi1583
3 ай бұрын
15 years 20 years mutual fund is a worst planning
@apz7645
3 ай бұрын
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.
@Shailesh2469
3 ай бұрын
@@apz7645 what happened if you die accidentally or due to some critical disease ?
@kunals2623
Ай бұрын
@@apz7645 No need for term insurance if no one is dependent on you.
@pankajjaiswal5806
14 күн бұрын
Maine to 3crore Banya tha COVID me gaon me 50 bigha jameen liya hai kheeti karta hu. Up me hi rah raha hu
You way of explaining is phenomenal
As Always Great and Informative Video👏🏼
Supremely informative video, very very helpful sir, thanks a lot for your high graded advice.
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.
@vasundharakulkarni-km9xr
4 ай бұрын
Yes
@AssetYogi
3 ай бұрын
Yes, it's basically spending on wants more than needs.
@inlovewithhumans
17 күн бұрын
WANTS covered bro 👍
@sm1256
15 күн бұрын
This is the first point people in US will say to save money.
Thank you for valuable analysis ❤
Practically true and well explained keep it up
Perfect examples!
Valuable video. Investment and track ur spending habits. Budgeted spending. 👍☺️
Really helpful.. Thank you
This man is best financial coach on youtube
Valuable video Thankyou sir and God bless you ♥️
@AssetYogi
3 ай бұрын
So nice of you! May God bless you too.
@heypritam
Ай бұрын
@@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 🙂🙏
You look very honest and hardworking mukul sir keep educating us, our youth needs teachers like you. Thank you so much😊.
@AssetYogi
3 ай бұрын
Glad to hear this. Keep supporting!
Amazing information and very well summarised
@AssetYogi
3 ай бұрын
Glad you liked it!
Thank you, Valuable info !
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.
@AssetYogi
3 ай бұрын
Thankyou and Keep Growing!
Really informative and must watch video for everyone
Great content 👏❤
one of the finest video ur all video
Great video as usual..Thanks Mukul Sir :)
Awesome explanation sir
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
@AssetYogi
3 ай бұрын
Yes, absolutely!
ਬਹੁਤ ਵਧੀਆ ਜੀ🙏
@AssetYogi
3 ай бұрын
Thankyou!
Thnk u bhaiya very knowledgeable vdo..
@AssetYogi
3 ай бұрын
Thankyou so much!
Thank you!
Informative Video, Thanks.
@AssetYogi
3 ай бұрын
Thankyou
I wish i could meet you once Mukul. You are an inspiration of many.🎉
The Best video ever❤❤❤
Very nice information... thanks
Thank you so much sir ji 🙏🙏💐💐🌺🌷🥀
Your each video means a lot..
Great content 🎉
Valuable video...thankyou sir
@AssetYogi
3 ай бұрын
Thankyou!!!
Excellent presentation..... hat's off to your 🙏
@AssetYogi
3 ай бұрын
Thankyou!!
I always wait for your video.
Very good and informative video.
Bahot badhiya 🧡
Useful information
thank you
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 🤘
Badiya laadle....
Thankyou sir
Very very thanks sir your given financial knowledge i am apresat for you
Thanks 👍❤❤
Thank you Sir for such valuable advices and guidance. The name asset Asset Yogi suits you aptly🙏🏻seemed to me video ended too soon.. I was expecting/wanting the video to be longer.. 😀 please make more such videos.🙏🏻
Very easy to explain to my daughter . Thank you Yogiji
Very Nice Video...Thanks Sir ji
Thank you sir
Thanku sir
True , good content ❤😊
Great seeing you grow 👍👍👍
@AssetYogi
3 ай бұрын
Thankyou for supporting!
Super informetion 👍
Good episode Thanks
@AssetYogi
3 ай бұрын
Thankyou!
Sir, jai Hind and namaste sada vatsale matrubhumi.
Top class video knowledgeable 😊
Every video is very very informative 🎉
Thanks sir for suggestions
@AssetYogi
3 ай бұрын
Always welcome
Nice information sir, this valuable.
@AssetYogi
3 ай бұрын
Thanks a lot!
Very nice video
Very very informative videos 🎉
Great explain it one heart for you ❤
@AssetYogi
3 ай бұрын
Thankyou!
Very nice information
Thank You Sir
@AssetYogi
3 ай бұрын
Most welcome!
Well explained and valued one
@AssetYogi
3 ай бұрын
Thankyou
nice explanation
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 sir
@AssetYogi
3 ай бұрын
Many many thanks
😊1 no video sir jee.
Excellent
@AssetYogi
3 ай бұрын
Thankyou!
Hi Sir, Can you guide me for the investment. Where and how to make good investments?
Informative ❤
Tab Tak Seekthe Rahihe,Kamate Rahihe Aur Hamesha Ki Tarah Khush Rahihe
Sir please make videos on etf which is good one
bahut hi shandar sir me aap ki bahutt video dekhta hu sare acche hai
@AssetYogi
3 ай бұрын
Thankyou very much
Good information sir j
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.
This is the Best video of savings.
@AssetYogi
3 ай бұрын
Thankyou!
Lovely,unparallel G Aapka har video awesome hai,like it very much
@AssetYogi
3 ай бұрын
Thankyou very much
Very nice video sir
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
@AssetYogi
3 ай бұрын
Noted!
❤❤❤My favourite channel
Hello Sir, is it true that tcs 20% change into 5% in coming financial year?
Only one question. Tell me where I can get the jacket you are wearing?
Awesome
@AssetYogi
3 ай бұрын
Thankyou!
Nice information👌
@AssetYogi
3 ай бұрын
Thanks
I have max exposure in debt. What to do to shift or new exposure in equity
@pransarkar56
Ай бұрын
Mutual Funds and Large Cap stocks are the best options in my opinion.
Good information sir 👍
@AssetYogi
3 ай бұрын
Thankyou
Sir. Please come with a comprehensive video for beginners on how to start their investing journey in long term mutual fund.
@AssetYogi
3 ай бұрын
Noted!
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.
🙏🙏Great
You are correct but the government is also discouraging saving. This is evident from the new tax regime for ITR introduced by government. The government also does not want that the people should save for their their future.
@santaaurbanta304
4 ай бұрын
Government is chor.
@AssetYogi
3 ай бұрын
Individual diligence is a must
@AAMINVESTORofficial
Ай бұрын
@@AssetYogi I think govt rok nahi rahi hai investment karne se bas ek aaina dikha rahi hai ki bina tax saving ke lalach ke investment/saving kar sakte ho to kar lo... 🙂
Nice Video
Sir one more question is when we sell shares STCG applicable just after selling or after month or after financial year ends plz guide
@AAMINVESTORofficial
Ай бұрын
STCG applicable just after you sell it but you file the tax after financial year ends :-) hope this will help 🙂
Yogi ji, Great work❤❤❤❤
@AssetYogi
3 ай бұрын
Thankyou