Monetising my channel

Summary

In this video, the creator discusses their decision not to monetize their YouTube channel or blog despite having the opportunity. Having retired at 60 with simple financial needs, they express contentment with their basic lifestyle and a preference for freedom over earning more money. They also mention their reluctance to engage in online banking or provide personal information for financial transactions, emphasizing a desire for simplicity and minimalism in life.

Takeaways

• 😀 The speaker has retired at 60 and chooses not to work for money anymore, valuing freedom over financial gain.
• 🧶 They started with very little savings post-retirement but are content with their decision to stop working.
• 🏡 Despite having no mortgage, the speaker is mindful of their expenses and manages them effectively.
• 💰 The speaker is not interested in monetizing their blog or YouTube channel, preferring to keep their content free from ads.
• 🚫 They refuse to provide bank details to YouTube for monetary transactions, prioritizing privacy and simplicity.
• 🎨 The speaker has a low need for art supplies, often sourcing materials from charity shops or using items already at home.
• 🚗 They are financially secure enough to cover basic expenses such as utilities, pet care, and vehicle maintenance.
• 💵 The speaker prefers a cash-based lifestyle, limiting transactions through their bank to reduce worries.
• 🔒 They emphasize the importance of knowing when one has 'enough' money and not constantly chasing after more.
• ⏰ The speaker will continue to create content on their own terms, without pressure from an audience or financial incentives.

Q & A

Why did the speaker decide not to work for money after retirement?

The speaker decided not to work for money after retirement because they felt they had done enough work in their 45-year career and wanted to be free of paid work, focusing on what they want to do with their time.

What was the speaker's financial situation when they retired?

Upon retiring at 60, the speaker had virtually no money, with only £200 in the bank and still had a mortgage.

Why doesn't the speaker want to monetize their blog or YouTube channel?

The speaker does not want to monetize their blog or YouTube channel because they do not want to earn money from these platforms and prefer to keep their life simple and free from financial concerns.

Why is the speaker hesitant to give out their bank details?

The speaker is hesitant to give out their bank details because they do not want to engage in internet banking and prefer to limit the transactions that go through their bank to reduce worry and concern.

How does the speaker manage to afford their basic needs without earning money?

The speaker is able to cover their basic needs without earning money because they have no mortgage or rent to pay, and they have enough money to cover their utilities and other expenses like cat care and car maintenance.

What does the speaker think about the idea of turning YouTube into a business?

The speaker is against turning YouTube into a business as it would impose demands on them to produce more content and they value their freedom to create videos only when they feel like it.

How does the speaker prefer to make purchases?

The speaker prefers to use cash for most of their purchases and withdraws cash from the post office weekly, keeping a little aside for larger purchases.

What are the two direct debits the speaker has set up?

The speaker has two direct debits, one for phone and broadband, and the other for house insurance.

Why does the speaker not feel the need to chase money?

The speaker does not feel the need to chase money because they have enough to cover their basic needs and they value a simple life with minimal financial transactions.

What is the speaker's stance on the frequency of their video uploads?

The speaker does not commit to a specific schedule for uploading videos, as they want the freedom to upload whenever they feel like it without feeling pressured by others' expectations.