America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..

@Grace.milburn

Ай бұрын

Every day we have a new problem. It's the new normal. At first we thought it was a crisis, now we know it's a new normal and we have to adapt. this year will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned 480k savings to turn to dust

@mikegarvey17

Ай бұрын

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

@mariaguerrero08

Ай бұрын

@@mikegarvey17Mind if I ask you to recommend this particular coach you using their service?

@mikegarvey17

Ай бұрын

*Gertrude Margaret Quinto* maintains an online presence. Just make a simple search for her name online.

@91ScottieP

Ай бұрын

She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.

Land of opportunity home of the broke.

@UTP504

Ай бұрын

😂, I couldn’t have said it any better.

@gheryl7711

Ай бұрын

the best comment ever!😂

@dahbajanman7044

Ай бұрын

Well, if i didn't have all this debt i wouldn't be broke

@sarajaved5552

Ай бұрын

@@UTP504 learned the hard way😲😲

@sarajaved5552

Ай бұрын

@@UTP504 I am humbled

For boomers and senior citizens, the current market and economy are unnecessarily harder. I'm used to simply purchasing and holding assets, which doesn't seem applicable to the current volatile market, and inflation is catching up with my portfolio. My biggest concern is whether I'll survive after retirement.

@Elkemartin213

Ай бұрын

Just buy and invest in Gold or other reliable stock , the government has failed us and we cant keep living like this.

@Greghilton3

Ай бұрын

Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.

@CindyValenti

Ай бұрын

How can i reach this adviser?

@Greghilton3

Ай бұрын

Amber Dawn Brummit is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

@CindyValenti

Ай бұрын

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.

@berniceburgos-

Ай бұрын

Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.

@hersdera

Ай бұрын

You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst

@SandraDave.

Ай бұрын

Could you possibly recommend a CFA you've consulted with?

@hersdera

Ай бұрын

My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

@HectorWhitney

Ай бұрын

Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.

I am a single guy in NJ and my bills are $3800 a month. It kind of sounds crazy it costs that much for one man to survive.

@user-pv8ij6id5n

Ай бұрын

Bc you live in NJ. I’m born and raised in NJ. LOVE NJ but got to expensive 😢

@azrinsani

Ай бұрын

Average income is $5K - 7K per month

@vincentharris7909

Ай бұрын

Single guy in SC > 950USD monthly. Come to SC brother.

@mattwilder4764

Ай бұрын

Wow Vincent. That’s all bills!?

@beth3535

Ай бұрын

That’s more than my SS and extra income. I save $1500/month on average. My largest bill/sinking fund is insurances (home/auto) and taxes. Annual expenses vary driven largely by energy costs and planned things (travel, house repairs/necessary upgrades, tires, glasses). But I fundamentally changed my budgeting strategy about 7 years ago. And I keep doing so to keep the impacts of inflation, aging, etc. manageable. Lifestyle choices, broadly defined (and unexamined) can be leveraged through awareness, planning, and discipline.

You work 60 hours a week to afford Your house in the suburbs, made of timber and drywalls, miles away from shops or whatever, a pool you never use because you are too tired. Your wife and children see You as an ATM, if You socialize it is on the surface small talk, where You are desperate to avoid all interesting topics to be politically correct. Fear of job loss, fear of taking your holidays if You have some, fear of getting sick, fear of your neighbor, shootings.......... This is close to my definition of hell

@fafa1648

Ай бұрын

AKA - The American Dream

@M_O_P.Limited

Ай бұрын

This is not hell. Please read Mary K Baxter book to know what hell is like.

@solskengroupllp2758

Ай бұрын

SPIRITUAL BANKRUPTCY.

@RickTheClipper

Ай бұрын

@@M_O_P.Limited I said: CLOSE to hell

@suzannederringer1607

Ай бұрын

​@fafa1648 the American Nightmare!

The ironic thing is if Americans start living within their means, it would crash the economy. Here in the Philippines it's still a cash economy and the family culture is still strong. I love my adopted home and hope it never becomes the United States.

@bodhixxx1

Ай бұрын

I hope for you that Philippines does not turn into a moral/financially bankrupt hell scape known as USA. most jobs pay garbage in USA the life they advertise to the rest of the world is for the .000000000001% of the population.

@dolly4446

Ай бұрын

Exactly if we stop spending the world goes broke 😂

@travisinoregon1919

27 күн бұрын

As an American who is familiar with the Philippines I agree. I have a lot of respect for Filipino people and their values. Spending some time there next year.

Felt so much better after doing this several years ago. MONEY= MORE IN , LESS OUT CALORIES= MORE OUT, LESS IN

I would add that we, as a general population, are UNEDUCATED in finance and economics as well as skills, trades, and even social skills that could help us become wealthy.

@Kerplunk990

Ай бұрын

This is done on purpose, the world cannot afford for everyone to be financially literate untortunately.

It’s because they are spending too much. They need a budget. Learn to below your means regardless of your income.

I think your analysis in this video is SPOT ON! The biggest thing that has helped me (although I’m not perfect) has been severely limiting my social media use. It’s much easier to forget about keeping up with the Jones’ when I don’t see them everyday. You’ve earned a new subscriber!

@ElAgustin

Ай бұрын

Thanks!

I always vomit a little in my mouth when I see an advertisement of what is generally a sentimental human "moment" between family and friends, and that moment is commercialized to sell something (soft music, smiling compassionate eyes in the actors, etc etc). Nothing is off limits when it comes to consumerism. It's so gross.

@frankcorrea8691

Ай бұрын

Sldo a bucket is born every minute ,hallmark sappy sales, father abandons kids for his mistress and then they forgive the guy skank after mom dies from working so hard@!

I can’t agree more to anything you said. Greetings from Germany. Americans (and we all) should take a look outside our country and culture and question anything told.

@gloofisearch

Ай бұрын

Yep, that is the most important thing, ever. The problem is that Americans are taught from Kindergarten that America is the best in everything, so it does not come up in their minds to look somewhere else as it can only be worse in other countries since we are the best.

@lintzejian

Ай бұрын

​@@gloofisearchI totally agree. I was born and raised in America and didn't realize this irony until I started looking at other countries and learning other languages.

Years ago, my husband and I decided that we weren't that interested in 'stuff'. We didn't care what others had or if they had a better car. We didn't buy excessive amounts of clothes and didn't care about name brands etc. We didn't eat out much and we didn't especially like takeout. Our mortgage was small, we had no debt. We decided we could work less if we were sensible. So we sold the 2nd car and managed with 1, I went on the hunt for the best deals on Internet, insurance, mobile plans, electricity etc - surprising how small savings added up. We got back some free time and TBH, the economies we made didn't lessen the quality of life.

There is truth to what you say here, Austin, but there's more going on than just individual spending habits. Inflation is extremely high and wages are not keeping up. The cost of housing (first and foremost: we all need to live somewhere), transportation, healthcare, and higher education are rising rapidly. The "overclass" (the super-rich) are squeezing the population: they're the ones calling the tune and our government, dependent on donors, listens only to them -- indeed does their bidding. It is they, the super-rich, who are making sure costs stay high to ensure high returns on their investments in pharmaceuticals, oil, REITS (real estate investment trusts), insurance companies, and of course, the military. Their ability to control government policy means we will never have single-payer healthcare, first-world transportation infrastructure, or publicly funded higher education (which we used to have). We're not the only consumerist country out there but our population is in worse shape because our social safety net has been eroded for fifty years. This is why so many Americans are suffering, and it's only going to get worse as the dollar gets weaker in the years ahead. The rich will always seek higher returns on their investments and it will be at the expense of everybody else.

@leedezern6862

Ай бұрын

But that’s when spending habits are even more important. I say this because it’s happened to me. I know available funds are lower but I didnt lower my spending accordingly. Some spending is unavoidable. We have to pay bills but there’s areas in which we can exercise better control

@kemi1486

Ай бұрын

Plus regular working Americans are taxed into oblivion! Our incomes are taxed and EVERYTHING we consume (food) and use (trash bill) is taxed. Each American pay at-least 50% in taxes monthly.

@hologramhouse729

Ай бұрын

Well said!

@joannacurran8475

Ай бұрын

So what are the other 35p million doing to stop all of these 'wrongs'? No-one forces you to finance a new car...buy less and the government receives less taxes, stop shopping at stores/ using services owned by the bad guys....

@JChavez0305

Ай бұрын

The whole video went over your head.

The standard of living in the US is high - people want big houses, each wants a big car, and many people buy lots of nonsense because they can.

@autobotdiva9268

Ай бұрын

on credit

@ironuckles

Ай бұрын

Restaurant spending is a big one too. Most people around the world rarely eat food not prepared by themselves or their friends or family.

@bodhixxx1

Ай бұрын

I agree people in USA consumed way too much who needs a 4,000 sq ft house USA threw away family in exchange for $$$ take my toxic family they literally died with the first dollar they ever made family never made the list of things that matter, it is disgusting that some old boomer is worth millions when they die when that $$ could of been used to keep the family going reproducing to replace the deceased ones and have your little legacy a multi generation home would work perfect if it was not for the sociopath boomer generation.

@randymillhouse791

Ай бұрын

@@ironuckles There are no good restaurants in the USA. NOT ONE! Try my homecooked Yankee Pot Roast. Totally awesome for $25.00 and we eat dinner for two for two nights.

@Name..........

Ай бұрын

Its not a standard to have a large house. Its a standard to have a stable life, your own house place your own car, kids a family. I wont even be given the opportunity throughout my life to own a tralier....I dont have a stable car...or anything. This is what happens when your born in poverty

We work to consume and then have to work to pay for all that we have consumed and consume more to numb the stress because we have consumed beyond our means. I jumped of that hamster wheel about 8 years ago.

@yellowbird5411

Ай бұрын

Isn't it funny that if we see someone with an old car, we get the impression they have no money. If we see someone with a new, expensive car, we assume they are pretty well off. Actually, the reverse is true. The old car owner is not paying a lot in car payments and insurance. So he/she has more money to keep and invest. The expensive car owner is saddled with huge car payments and horrific insurance, often paying over $1,200 a month for both, which kills his/her extra money that could be earning more money for them in investments. Cars are a depreciating "asset," but they aren't an asset at all. They are a liability and an anchor around your ankle. That money, whether in payments or all cash purchase could have gone to work for you in making even more money. A new car doesn't tell anyone who you are, it tells them you spend too much on things that don't matter.

@dianabehr3169

Ай бұрын

Many rich people are frugal, drive old cars and wear cheap clothes = that's how they got rich

I spent 10 years in Central Asia…trying to explain how I can buy a house, pay on it for years and the bank has the ability to take it back if I miss 3 months payment blew their minds…they had NO understanding.

The problem is us. If we didn't consume at the levels we do and keep taking on more debt to keep it going it would clear the system. All of life comes down to one basic economic process, supply and demand. No spending like we do? There would be no Amazon, Apple, Tesla etc. Governments would not have all the tax money to wage wars around the world in order to give more and more money to the military industrial complex. If you want to make a difference lead a simple life, get out of debt, stop wasting money buying crap.

@MeandJesusaboveall

Ай бұрын

Stop spending is the first step right on! People need to treat money for what it is. Can you tell a time when money or a number referring to a cost wasn't brought up in a conversation? The centralization of money is the very reason for why inflation is skyrocketing. It's not a big deal!

@brianbeecher3084

Ай бұрын

And if you are single with no children or pets, live in a rented room somewhere. And bringing back traditional rooming houses could begin to make a dent in our huge homeless problem.

I totally agree with you. Not only do most Americans live paycheck to paycheck in perpetual debt which leads to stress, and illness but is a vicious cycle that never ends. We in America need to slow down and find contentment bin the simple things and not be propelled into the whirlwind created by consumerism and we'll enjoy life more, and have time to spend with family eliminating a great deal of the problems we experience. You are very astute. I hope they're listening.

Americans without a long-term cultural identity are easily manipulated and fleeced by Americans with a long-term cultural identity, or so it seems.

I'm off the consumerism train 😌with no debt, a 1,300 sq/ft paid off home, and an 18 year old paid off car all I really need to consume is food and to be honest to stay healthy you don't even want to consume that much of it either.

@one100billneoone4

Ай бұрын

Our situations are about 95% identical. We must be related or living in our own parallel universe. Ha ha. Congratulations!! It’s an awesome feeling and accomplishment.

@Izzy_Gtz

Ай бұрын

​@@one100billneoone4 I think is the latter 😄Thank you and congratulations to you as well.

@maddscientist3170

Ай бұрын

Ditto....but you never really own your home...because of taxes

@one100billneoone4

Ай бұрын

@@maddscientist3170 And you’ll always pay taxes…your point? You sound like a salty jelly sandwich.

@MrTwade2006

Ай бұрын

I thought about taxes the other day because we are totally debt free too. We pay taxes on EVERYTHING. Property taxes, sales taxes, there’s taxes on utilities, gas, phones, income taxes, etc. I think if we spend a dollar on any purchases almost 10% is taxed (at least in my state, and I am very frugal on my spending even before prices got absorbent). I wondered if I calculated all the taxes I pay out monthly how much would we really be paying in taxes. Some of these taxes we don’t even recognize because they aren’t clearly visible if we aren’t looking at everything carefully (which I do) but I haven’t taken the time to calculate how much I spend in taxes. I think I’m going to do it for one month and see how much I’m actually spending in taxes. I may not pay interest on anything I purchase/own, but taxes will never go away, and in some senses may be just as much as some ppl pay in interest payments. But I do recognize that we are still blessed to be able to live better than some ppl in other countries. We donate monthly to an organization called Voices of the Martyrs and when I read some of their stories, I have to repent of any complaints I’ve made.

Agree, but the UK has a far older history than the US, and we have similar problems. We do share the same western consumer culture, however.

@ElAgustin

Ай бұрын

I met this one English person who told me that the US is like the UK's young nephew that's trying to take over the world and UK's like, "We tried that a while back...you don't want to go down that road."

YES! We are so spoiled and just expect everything! We do not understand the importance of self-denial & discipline. Worst of all, most Americans are poorly educated in healthy & frugal money management.

My car is almost 20 years old. I currently owe $45,000 on my mortgage. I stack for retirement and sit still. I work too hard for my money to give it away!

@turtleanton6539

Ай бұрын

You are gicin it away on interest

@NRob0

Ай бұрын

@@turtleanton6539 My home will be paid off 11 years ahead of schedule. The car was paid off in 2.5 years. I’ll be fine.

@matthewmccarthy2406

Ай бұрын

My car is 40 years old, I bought my house for 45K. I try to grow as much food as I can and I stack gold. They key to my prosperity is that I left the USA. Everything there is high cost and low quality

@MB-xv7er

Ай бұрын

You don’t work hard you just got lucky lol

@DeanBKK

Ай бұрын

@MB-xv7er don't go around calling people "lucky" just to make yourself feel better. If you don't know them personally and/or their situation, just be quiet.

There is a lot of truth in this video. I'm 60 y o and can tell you 1st hand there is no sense of community in my area. Surrounded by thousands of people but all alone. No one flibs a guck about their neighbor

I agree with all you say… but, I can say (from Italy) that it’s not only in America. I think that this situazion is common in most of the industrializzed Countries

@Mpm.611

Ай бұрын

Same in France

The family structure is such a HUGE point. It's the main reason my wife and I are moving from the US to Peru to be with her strong family. My family gets together a couple times each year, her family gets together almost every single day.

@KeturaSaint-Fleurose

Ай бұрын

So beautiful and wholesome 😭 ❤ I am wishing your family and hers a lifetime of happiness and peace in Peru 🇵🇪

We also live in a society that prioritizes a “treat yourself” mentality where we are justifying self indulgent spending due to an arbitrary amount we crossed over prioritizing our values.

Great video but if you wanna be successful, you most take responsibility of action and your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life, Successful people don't become that way overnight. most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life 🙏🙏🙏

@perefeghaandrew8076

Ай бұрын

You're absolutely right you've remind me of what someone once said "The mind is the man, the poor is in it and the rich is it too". This sentence is the secret of most successful investors. I once attended similar and ever since then been waxing strong financially, and i most tell you the truth..investment is the key that can secure your family future.

@johnalex4006

Ай бұрын

I agree with you had a senior colleague at work who was doing well but never had an investment. Unfortunately he lost his job and went from living a comfortable life to hardship. There would had been something to fall back on if he had an investment

@Jameshenry-gu1fi

Ай бұрын

that's why I always urge everyone to start investing somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment i realized this.

@philippine6168

Ай бұрын

Starting early is the best way of getting ahead to build wealth, investing remains a priority. I learnt from my last year's experience, i am able to build a suitable life because I invested early ahead this time

@Soboj-oy8me

Ай бұрын

yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too

I think you’re completely right. Especially the lack of strong family structures. People are so divided when it would be in peoples best interest to pool resources and talents to accomplish collective goals in life. It’s a shame.

Unfortunately this applies to a huge portion of the population in Australia too. Here we're also a culture that believes that home ownership is vastly superior to renting. Except that it leads to enormous debt that people can barely afford and then you basically lose all of your freedom. This is a big reason why Aussies live payday to payday. I'm not sure that renting is an amazing deal either, but I prefer to have no debt and quite a lot of financial freedom.

@ElAgustin

Ай бұрын

Hola!

@bcusaaus4749

Ай бұрын

I’m Aussie as well and finally stopped the insanity with consumerism! Debt free now but, I see lots of mates still struggling being house poor and living paycheck to Monday ( paid Friday , pay bills, broke on Monday) then scrap the next 20 something days 😢

@Demonfireangel

Ай бұрын

Regardless of where in the world you're in, home ownership is usually vastly superior to renting. Would you rather pay someone else's mortgage (renting) or pay your own mortgage (owning)?

@katrinapeacock8317

Ай бұрын

@@ElAgustin 😊👋

@gavinlocke5980

Ай бұрын

Lived in Australia for 8 years New Zealand is the same the belief to live on credit, buy now pay later is why people live week to week. The basic save up until you can afford is mostly gone.

Such a good video. So much truth. Thank god I discovered minimalism about 5 years ago. I’m not a true minimalist, but I’ve incorporated so much of that concept into my life. Paid off all debt except for the mortgage. No credit card debt or car loans. I still work hard, but I have a decent amount of free time and lots of retirement savings. American culture is broken. I watch all these people around me spending everything on “stuff” and desperately trying so hard to show everyone else how successful they are, and I just shake my head. They’ve got it all wrong.

Broken Family Structure. Amen. Divorce killed me financially. Every day is a massive challenge.

@melli-yelli

Ай бұрын

💯 agree, i’m also divorced. So there are things you can split in half so each takes a share like a stack towels but you can’t cut a toaster or microwave oven in half and it still works You might think those are petty but multiplied by 100 of small things it’s a lot Sure you can buy a smaller place after dividing money in half but you still need a whole kitchen, bathroom etc. Divorce is a wealth killer

@one100billneoone4

Ай бұрын

3 years divorced and I cannot believe how much $$ I have been able to save and invest. I cannot thank my ex-wife enough for filing for divorce. Sorry to hear it didn’t work out for you but it will in the long run if you play your cards right.

@frankcorrea8691

Ай бұрын

Did you get caught cheating?

@BigPhilly15

Ай бұрын

@@frankcorrea8691 No

@BigPhilly15

Ай бұрын

@@one100billneoone4 Any kids? Child support has been the real killer.

20 years ago i was an avid planner for the future. Now i live for today. F*** the future

While that is true about family structure in Ecuador preventing homelessness, here in Finland there’s no homelessness and it’s the most individualistic society. However, the government does ensure everyone gets a home and their def of homeless is even different. If one needs to stay in a shelter that is homeless. People also live in smaller homes, but if quality like sauna in each own apartment, triple glazed windows, and heating is free included with water bill which is 12euro-19 euro per person. Housing is super affordable here and people don’t take out much student loans as universities are free. America is expensive, while slightly higher salaries but the cost of everything is insanely high, I.e. housing, healthcare, insurance, universities, car as the main mode of transportation, foods, eating out, etc.

@Name..........

Ай бұрын

We have lower salaries here actually, most average Americans are getting paid 10-12 while the rising inflation level is 400% above our income

@garybulwinkle82

Ай бұрын

Homelessness in America is a lie for the most part! These people living in tents on the streets are drug addicts! They don't want to change because they like living on the streets where they can remain "high"!!

From $7K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.

@CryptoOption-dn4qk

Ай бұрын

Wow

@CryptoOption-dn4qk

Ай бұрын

But I still love my mentor Sophia

@OnunuEmekaGodbless

Ай бұрын

Sophia my life savior

@OnunuEmekaGodbless

Ай бұрын

All thanks to Sophia my life savior

@LucyAndrew-ct7iu

Ай бұрын

Though I started with as low as $15,000 AUD actually because it was my first time and it was successful, She's is a great personality in Australia

I lived in a small apartment in a 1960's era high rise for 20 years, about 10 blocks from work and walked most days. I can't tell you how many people said I should buy a house. By not buying a house (and all it's related expenses in addition to the mortgage) I was able to retire at 62. Actually could have gone at 61.

I moved to the US 20 years ago from Europe and I cannot wait to move back home. lol

@frankcorrea8691

Ай бұрын

So long, by by!😮

@overk1llz

Ай бұрын

The US is like a casino, you leave when ur chips are up. You don't move into the casino. That's how you lose.

@Michelle_Emm

Ай бұрын

You should get a medal for lasting 20 years. 🏅

@PineappleOnPizza69

Ай бұрын

@@overk1llz US is also a corporation designed to enslave you

I’m from Ukraine 🇺🇦 moved on my own to USA 🇺🇸 at 18 yo… totally agree… love USA but we need to be more connected with family and church ⛪️ and others- people are matter the most !

Yeah we're in decline. This is the last stable decade of our lives.

We became a nation where we compare ourselves to the betters, and look down on those who don't have those luxuries. My teens and 20s was spent being laughed at mopping floors and cleaning bathrooms in a nursing home while paying for college since my folks were NOT smart with money or kept a job. It honestly made me bitter for the decade that follows as I watched those same people skirt by in life, start families. take over a relative's business, and buy houses and cars while I'm just now catching up to them 10 years ago.

I will give up a lot of stuff before I give up air conditioning!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

@sct4040

Ай бұрын

Heat and AC are essentials.

@STScott-qo4pw

Ай бұрын

Depending on age, health a/c is not a luxury.

@SouLoveReal

Ай бұрын

I live in San Francisco. NEVER too hot - NEVER too cold. However, the ¢O$T of LIVING is OUT-EFF'ING-RAGEOUS. I feel for people who are "forced" (if you will) to make a lot of money because their jobs are HERE, and they cannot work from home, let-alone from another city or state.

I am from England and its the same here. Me and my wife bought a modest semi detached house and a car that we paid off years ago that keeps on going. Because of this when we had kids one of us could afford to stay at home. We are not into going out drinking or buying lots of stuff from amazon we are happy with little (and good holidays each year). I do feel looked down on by people with a bigger house/ car etc that they spend all their time paying for, kids in nursery and no holidays abroad each year, but they dont see it! I do realise some are stuck in a bad situation though. Great videos!

@jacqueslee2592

Ай бұрын

You do not know what really goes on inside these homes or behind the facade. It is all vanity but not real. What they are really telling you is that they need to have validation to live their life. I did not know that British did these to other British. In the US, it is basically people putting in to your face because they want you to look at them. The Armenians in Los Angeles do this a lot and the vain upper middle or wealthy classes.

@yellowbird5411

Ай бұрын

@@jacqueslee2592 See my stuff? I'm part of all of it, and therefore I am worthwhile, because my stuff is worthwhile. The more expensive my stuff, the more valuable I am. So sad.

Five years ago, I moved to the small college town where I got my undergrad because I knew I could find a cheap apartment. My car was paid off two years ago. I took early social security. All these moves and more make me one of the 22 percent!

Much of the problem is poor money skills. Money is a subject sadly lacking in our public schools. You either learn them on your own or from friends or family. The information is out there all you have to do is let it in.

@beth3535

Ай бұрын

Absolutely. It’s been game-changing for me.

Thank you, for sharing your insightful comments. As an African American male in his early 60's, not sure that, I agree with your comments about culture. However, I do see many Americans buying things they either do not need, or cannot afford. In my 20's, I had to learn ... who am, I really trying to impress: if my automobile is paid for but outdated so what, if my apartment rent is low but, it does not have air conditioning so what, if I still own an old VCR and a DVD recorder so what ... etc. Now retired, I have a fully paid-off home, no automobile loans, no college student loans, no credit card debit, a net worth of $1.4 million (with half in the value of my home and the other half in retirement accounts and personal savings). However, none of these funds are needed to pay my monthly bills because, I receive a monthly pension, annuity, and social security (smile...smile).

@beth3535

Ай бұрын

Excellent! It came through discipline and responsibility. Good for you!

I rarely use my air conditioner and people think I’m insane…

@thekid1597

Ай бұрын

Try that in Texas during the summer, which is about 6 months outta the year 😳

@willchristie2650

Ай бұрын

Good luck with that in Phoenix. Even with air conditioning, in the peak at 115 F. degrees in the summer, you need not only air conditioning but all the thick plantation window shutters closed. Maybe this is a crazy site for the 5th largest metro area in the USA, and the fastest growing.

@JoshAmes1980

Ай бұрын

Yes, I live in Michigan. I would never do this in Arizona or Texas. But people still think I’m crazy even here.

@robertwalker5521

Ай бұрын

Am I witnessing someone auditioning for a part in a seventh grade play ? 'far too much vocal changing and hand waving

I’d add that American culture frowns on frugality. ❤

@turtleanton6539

Ай бұрын

Indeed

@beth3535

Ай бұрын

That’s changing in a lot of ways and places. In my area, a recent indicator is lowering of prices (not just sales) among retailers (grocery, etc). A massive shift in consumer spending is underway.

ive minimalised a lot of stuff. even the kids summer wardrobe is 12 items of everything except shoes. 2 pair shoes, gymshoes and 1 croc. not doing all this laundry

Drug addicted and the mentally people living on the streets have smart phones. Your point about a cultural breakdown is right on. Even in this country… When is the last time anyone has seen someone living on the street who is Hispanic? An Asian? Rarely or never. And the question needs to be… Why is that? It’s not because of a lack of homes.

This is excellent, something I've not thought about, but you make a lot of really good points. Our sense of family and self is seriously broken so we look to stuff and things to fulfill our emotional needs. We are on a roller coaster and all of us need to get off. Definitely a lot of people stuck in a vicious circle. And yes, our comfortable way of life has made us slaves because we don't want to do without anything. Throw in current inflation rates and it's definitely a recipe for disaster for many.

@ElAgustin

Ай бұрын

It's interesting!

@Wewereneveryoung

Ай бұрын

The idea of "family" never really included a father back then. He was just a sperm donor. Women in the family and brothers/uncles are what comprised a family. We're a world consumed with sex. This has a bitter and brutal end

Almost at 100k! Your content is so on point 👍🏻

My wake up is 4 am for in person work days. All the rest of that schedule is about the same.

“ Greed is good! “ slogan of the 80s, corporate profits and compensation disparity between the top and bottom is massive

Wonderful video. Myself after 25 years of consumerism have finally seen the light. I live in a wonderful, beautiful village in Somerset UK (think Hobbiton) and most of the folk around here lease big £150k Range Rovers, and I drive a little 1 litre Mazda 2. I drive it out of choice, because having zero car finance & nearly being mortgage free makes me happy. I find your videos so helpful at staving off the consumption itches. 😊

@sgray4995

Ай бұрын

Living frugally but good here in St. Pete, Florida.

It's amazing that with all these financial advice videos over the last two decades, Americans are still living paycheck to paycheck. We need more of these videos and some expensive online training education about finance to spend our paychecks wisely.

I’ve never felt like I belonged here for the reasons you are giving. I never really thought about it. I grew up in a multi-generational home. I’m still living in it. I’m still using the things my grandparents bought decades ago. My family only ate out once or maybe twice a week when I was growing up. I still do the same thing as a treat. I drive a car that is older than me and I also ride a small motorcycle for most of my commuting. I have gotten so much flack for all of it and pressure to buy new things from friends and coworkers. However, I have no debt.

Amen. We are soft and never satisfied!

Astute observations as always, Austin. I always look forward to your new videos!

@ElAgustin

Ай бұрын

Thanks for watching!

You continue to offer us fresh, thought-provoking ideas. Thank you!

Great video Austin. Greetings from Ecuador!

You got that right we don't have a strong family structure so people end up on their own with no family support very sad

Hi Austin - thank you for video content. You brought up many true things about other counties vs. our culture here in America. My family came from the Philippines and we have many similar traditions as South America and Mexico. I do want to say though that living here is such a blessing. My extended family and I have been able to build a comfortable living here that could not have happened in the Philippines. If you are frugal and work hard staying out of debt - you can live a comfortable life here. Many Filipinos would love the opportunity to come to this country. Living in both countries - I am so thankful to be here. It’s choices and hard work- everything Dave Ramsey talks about that changed our economic condition that would not have been possible in a 3rd world country.

I checked out bought a bicycle and now just bum around town looking for sodie pop cans. Everything will work itself out.

@rachelsparks1458

Ай бұрын

That's the ticket. Every purchase should be something to use to make additional money or the energy get you through to better job opportunities.

You are so correct in this video. I lived in Spain for a number of years. The economic opportunities are not great there, but I didn't see too many homeless people. Americans live to work, Spaniards work to live.

That was an amazing video! A lot of thought put in to that piece!

"Culture funded by debt" like a 30 yr mortgage

Opportunity has dried up. The dollar is nearly worthless.

We also give our hard earned money to foreign nations...such as Isreal. We need to stop giving money to all these countries.

@arandomyoutubechannel2940

24 күн бұрын

Facts

You make several good points in this video. Including our family structure and debt.

Very insightful, Austin! Thank you 😊

The Ecuadorian who was living in my Chicago driveway believes he is genetically superior and God and law of attraction will someday make him rich.

It’s always been odd to me that generational wealth was not the standard in a capitalist country. People move here from other countries just to build generational wealth. Even a family side hustle could grow.

@beth3535

Ай бұрын

It’s totally a lost opportunity.

The Americans who were denied the American Dream for years definitely have a sense of culture and identity because our fellow Americans don't want us to feel like Americans. However, we have no plans to leave and will stay and pursue our dreams like everyone else and see you in a courtroom if you try to stop us.

You hit the nail on the head! Great video, Austin! 🙂

Great video Austin. You often provide unique perspectives regarding money not often discussed anywhere else. I can tell a lot of research and careful thought is done by you to produce your videos. Keep up the good work.

@ElAgustin

Ай бұрын

I appreciate it! A lot of thinking and analyzing going on over here!

Because we are all consumers…………and our minds are conditioned to spend everything we make. Stay off social media

Remote work creates that extra time you need without the stress you spoke of.

@beth3535

Ай бұрын

I’ve done it since 2005. Game changer! Grocery, fuel, car wear and tear, and clothing cost savings have helped me weather economic (and personal) ups and downs. Travel time savings alone, even for a nearby job, saved me almost an hour a day, 5 days a week. Lower stress also away from office culture. Even job advancement became easier oddly enough.

This video is very deep and actually valuable.

awesome video! you are spot on with everything you said.

Excellent analysis and insight, especially the first point about US culture (or lack thereof).

Great video!

America has always lived paycheck to paycheck. The only difference now is that unaffordability of housing is now a nationwide situation. There needs to be much more construction of low cost housing to make at least the minimal living condition affordable to someone that makes minimum wage.

You forgot two huge components. Americans are very over taxed! And the rising cost of living. There are many minimalist non consumer focused people that are still having a hard time.

You missed the most important reason: extremely low wages

You said it so well mate, greetings from the UK

Another great video!

You are too kind in your assessment. We are a spoiled rotten culture. Families don't stay together hense children running amuck. Our prisons are full because most are men and most all have no fathers, or good male role models. People are selfish, greedy, and no one seems to be thankful for the many many riches and blessings that they do have. It is staggering and almost unbelievable how ridiculous we must look to other nations. America needs God. They said Rome would never fall, well America, the land of opportunity may see its fall very very soon.

@frankcorrea8691

Ай бұрын

And one marriage partner is always saying , gimme, gimme, gimmie or I want I want, I want, same scenario@😅

@chaoticneutralsheep

Ай бұрын

To my knowledge America's prisons are full by an intentional design because it still uses slave labour, only it's been rebranded. It's easy to get sentenced for some marijuana in a car, taken into custody for possibly speeding then get incarcerated, and they can never get out of jail because they can't financially support themselves. Nearly all of them become antisocial after being in a hostile environment where violence was a necessity and they'll have missed essential development milestones. It'll be down on the records making it more difficult to generate a sustainable income and many end up in a jail again for minor offences. Something is fundamentally broken when America has a larger distributed population of prisoners than China who have confirmed sources say they use Uyghurs in detention camps for labour because they're mimicking what the US has done. The system is made more obvious because the electoral college that heavily favoured slaves states now favour high prison populations and all those prisoners convicted of felonies lose the right to vote. Ultimately Greed is but one component, the real issue is often not caring for people which is what allows the selfish behaviour to persist. In America there's a push from government and journalism to have a lot of apathy or even elation at someone else's suffering, people go along with it for a sense of belonging, and to feel strong and superior. Best answer is to have communities working together and to stop seeing everyone as a constant competition because resource guarding wealth results in no one having anything by the end.

Excellent video, sad but true😢

Many valid points here. ❤

This one goes deep - but a very good analysis looking at society, family, interconnectedness and how this interplays with money, wealth and consumerism.

Your are spot on by all seven accounts!

As someone whose lived several years without ac, I can say that it SUCKS!!! It’s miserable.

Another brilliant video!

@ElAgustin

Ай бұрын

Thanks!

This is so true imagine when when you're an American and you're a kid and you live with your parents and you turn 18 your parents kick you out what kind of s*** is that

@SouLoveReal

Ай бұрын

As of 2020, it's not happening that much anymore, as long as the parents and the adult children get along. The parents can charge a "cheaper" rent to their kids while the kids are working and saving up to move out. I first moved out of my parents house at 21, had a flaky room mate, then I moved back with my parents at 22. In exactly 3 YEARS later, after lots of planning and saving (at 25), I move out and never looked back. Had a few "lean" years, but I made it on my own. Strength, smarts, and pride... (oh, and prayer, too). I tell people: I've been poor before, I've NEVER been rich, but one thing I've known since I was a child - *_RICH is better!!!_*

@carlosalenduran4630

Ай бұрын

@@SouLoveReal o that's good

American cultural identity comes from our European ancestry: English, German, or Dutch, but isn't really replicated in American culture except in emigrated pockets of small cities (in Michigan that would be Frankenmuth or Holland) or in immigrated communities (again, in Michigan that would be Dearborn). The reason Americans live paycheck to paycheck is a direct result of living in a capitalistic society with competitive roots and the effects of a culture of debt.

Luckily, I am from the generation that had a great family structure - Mom, Dad, Siblings, Aunts, Uncles, Cousins, Friends - the one parent household was the exception when I grew up. It was very rarely seen.

Good Insight!!!

I love shopping. Thank you for sharing.