12 things school DIDN'T teach that YOU NEED TO KNOW!

Summary

In this insightful video, the creator shares personal experiences and lessons on financial literacy, spirituality, and self-improvement that are often overlooked by schools. Topics include tax-saving strategies, the power of compound interest, the importance of emotional regulation and attachment styles, and the value of self-education. The video emphasizes practical advice such as investing in the S&P 500, setting boundaries, and building better relationships. The creator also stresses the significance of financial independence, mindset, and accountability, while offering resources like psychic consultations and effective journaling techniques for personal growth.

Takeaways

• 😀 Focus on increasing your income before worrying about taxes, especially if you're not earning a significant amount yet.
• 😀 Understanding taxes and tax write-offs, such as work expenses or property deductions, can help legally reduce your tax burden.
• 😀 Compound interest is a powerful tool for growing wealth over time, with consistent contributions to investments like the S&P 500 yielding long-term growth.
• 😀 Karmic relationships teach valuable lessons, and breaking free from toxic patterns is necessary for personal growth and attracting healthy relationships.
• 😀 Spiritual practices, such as tarot readings or psychic consultations, can offer clarity when making decisions or processing emotions.
• 😀 Protecting your energy, both mentally and physically, involves setting boundaries and avoiding energy vampires.
• 😀 Budgeting effectively and saving a significant portion of income leads to financial freedom, as opposed to the traditional spending patterns taught in school.
• 😀 Buying a house can be a good investment, but it depends on your situation, and you should consider alternatives like investing in the stock market.
• 😀 Avoid high-interest debt, such as credit card debt, as it can harm your credit score and financial situation in the long run.
• 😀 Emotional intelligence, including understanding attachment styles, is key to healthier relationships and personal growth, yet it's rarely taught in school.

Q & A

What is the first thing the speaker highlights that school doesn't teach you about finances?

The speaker emphasizes that school doesn't teach you about taxes, specifically how to save money on taxes and how to even do your taxes. They stress the importance of focusing on increasing income rather than just saving on taxes, especially for those who aren't earning a significant amount yet.

How can people who are self-employed lower their taxes?

Self-employed individuals can lower their taxes by setting up a company, such as a PT LTD, which allows income to flow through the company. This way, the company pays a lower tax rate on income, and individuals can then pay themselves a salary, which is tax-deductible, further lowering their income tax.

What does the speaker say about compound interest and its role in becoming wealthy?

The speaker emphasizes the power of compound interest, explaining that by investing a small amount consistently (like $100 a month), the money grows exponentially over time. For instance, with an initial investment of $11,000 and a monthly contribution of $100 for 40 years, the total value could reach over $332,000. The key takeaway is that time is a crucial factor in wealth-building through compound investing.

Why does the speaker mention karmic relationships in the video?

The speaker discusses karmic relationships to explain how toxic relationships, whether romantic or familial, are often patterns we need to learn from. They emphasize that if you don't learn the lessons from these relationships, they will keep repeating, potentially even affecting your health and life circumstances.

What does the speaker believe school fails to teach about spiritual and emotional well-being?

The speaker feels school doesn't teach how to protect one's energy, set boundaries, or deal with energy vampires. They also mention the importance of emotional regulation and attachment styles in relationships, which would help people understand themselves and others better.

What does the speaker suggest about budgeting and saving?

The speaker advises a more personalized approach to budgeting rather than following traditional rules. They mention maximizing savings and being mindful of how money is spent. For instance, they suggest saving a large portion of one's income when possible and avoiding unnecessary spending, like buying expensive items you cannot afford.

What is the speaker's view on buying a house as an investment?

The speaker notes that buying a house can be a good investment, but it depends on personal circumstances. While it may appreciate in value, if the house isn't generating income (e.g., through renting), the costs such as mortgage payments and maintenance can be draining. They suggest weighing the option of investing in other areas like the stock market if you're not ready to buy.

How does the speaker define 'good debt' and 'bad debt'?

The speaker explains that good debt is debt that generates income, such as loans used for investments or business opportunities. On the other hand, bad debt includes credit card debt, which often carries high interest rates and can damage one's financial health if not managed properly.

What is the significance of understanding attachment styles, according to the speaker?

Understanding attachment styles is crucial for healthier relationships. The speaker explains that attachment styles—like avoidant or anxious—develop early in life based on relationships with parents. By learning these patterns, people can improve their emotional regulation and avoid sabotaging relationships in adulthood.

What does the speaker suggest about the role of education in today's world?

The speaker argues that while school teaches traditional subjects, it doesn't equip students with practical knowledge about money, relationships, or personal growth. With the internet and modern resources, people can learn valuable life skills outside of formal education, and this often leads to more success in today's world.