YouTube Link: https://youtu.be/f5WfNY7dTJQ

Hello Friends! In this video I help you identify habits that keep people poor. 
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-----Contents of this video-----------------------------------
0:00 - Intro
0:10 - It all boils down to your daily habits. 
0:34 - #1 - Not knowing where your money is going. 
1:10 - What gets measured gets improved. 
1:13 - #2 - Impulse Buying.
2:33 - #3 - Buying things to impress others.
3:26 - #4 - Keeping up with the latest gadgets.
3:53 - Bonus - 10-10-10 Rule
4:24 - Summary
4:28 - Call To Action 

Especially in the U.S. we do not have an income problem, we have a spending problem. It all boils down to our daily habits. Today I will talk about 4 Money Habits that Keep You Poor. As a bonus at the end I am presenting a tool that you can use before making a big purchase. This tool will help you make the purchasing decision much easier.

1. Not knowing where your money is going
Do you ever sit down and analyze your spending? You may think you know where your money is going, but do you find yourself getting to the end of the month asking where all the money went? Do you do a monthly budget or at least a quarterly review of your spending?  You may be spending $10 here, $10 there and before you know it that adds up to thousands and thousands of $ every single month. What gets measured, gets improved

2. Impulse buying
According to dacgroup.com in 2019, 89% of Americans could not resist the temptations of impulse shopping, with an average spend of $82 per session or $18 billion per year. Americans also make up to 156 impulse purchases every year, spending up to $5400 annually. That = to a nice vacation. The sad part is that most of those things you most like will not be needed in a few months. What about you? Do you get on amazon and start buying things right and left? Do you start buying all the useless things only because you think you need them at the moment?

3. Buying things to impress other People
This could be a big one and could really get you into spending a lot of money that later you will regret big time. The tool I will provide at the end will really help with this. Do you go buy a new car just because your neighbor did so? Do you go buy new clothes, new jewelry just to impress so and so? The sad reality is that you are not really impressing anyone. One suggestion here, only buy things that will truly make you happy, no matter what others think.

4. Keep up with the latest gadgets
Are you the one that is buying the latest iPhone? Are you the one that is buying the latest computer? The latest and greatest gadgets are getting pricier and pricier and could really put you in troubles

As I promised, one tool you can use before making a bigger purchase is use the 10-10-10 rule. Before making a purchase, you ask yourself, how will I feel about this 10 min, 10 month, and 10 years after the purchase of this item. Really stop and think of an answer for each case and then decide accordingly.


My wife and I wrote the book: “LIFE LESSONS: From A Wiser Me to A Younger Me” In this book, we go into details of what were the biggest lessons we have learned up until now. Our intention for writing the book was for people to learn from it and not repeat the same mistakes we did. Also what we have learned in 10, 20 years, could be compressed in a few days of you reading the book. So there is a lot to gain :)
You could purchase it here: https://www.amazon.com/dp/B09JBHGSRF/ref=cm_sw_em_r_mt_dp_0QE4R3280AE5BMYH1SPK
 
*None of this content is meant to be interpreted as investment advice. It is for entertainment purposes only. The content in the video is accurate as of the day of the