TOP 5 DUMBEST THINGS PEOPLE SAY ABOUT MONEY!

Summary

In this video, 'Prepper Princess' addresses common financial misconceptions among her viewers, particularly in the US, Canada, Australia, and the UK. She debunks myths like 'you can't pay off your house due to property taxes' and 'you can't make money in the stock market.' She also criticizes those who claim 'you need money to make money,' suggesting that with discipline, one can separate property tax payments from mortgages to earn interest. 'Prepper Princess' advocates for financial literacy, warns against bad advice, and promotes her book 'Living on Almost Nothing' for further guidance.

Takeaways

• 📚 The speaker, Prepper Princess, is an author who shares financial advice and warns against illiteracy in personal finance.
• 🏠 Paying property taxes is a common responsibility for both homeowners and renters, contrary to a misconception that only renters bear this cost.
• 💸 The idea that one's house will never be fully paid off due to property taxes is a myth, as these taxes are often included in mortgage payments.
• 🤑 Prepper Princess debunks the myth that you can't make money in the stock market, sharing her personal success story of earning significant income.
• 🚫 She advises against leaving financial advice on her channel if one lacks knowledge, emphasizing the importance of staying in one's area of expertise.
• 💼 The statement 'you need money to make money' is challenged, suggesting that labor can also generate income without initial capital.
• 🚗 Opportunities like renting out personal vehicles or using them for advertising can generate income without significant upfront investment.
• 💳 The belief that being debt-free equates to being rich is false; it's more about spending habits than the absence of debt.
• 🏡 Even if someone else pays off your debt, it doesn't guarantee wealth, as spending habits must change to maintain financial stability.
• 📈 Prepper Princess encourages viewers to take action, suggesting that having more resources doesn't necessarily equate to financial success.

Q & A

What is the main theme of the video script?

The main theme of the video script is addressing common misconceptions and bad financial advice that the author, Prepper Princess, encounters in her comment section and other platforms.

What is the author's stance on paying property taxes?

The author clarifies that property taxes are a necessary expense for homeowners and renters alike, as they are included in rent payments, and it's a myth that one cannot own their house because of property taxes.

How does the author suggest managing property taxes for those with a mortgage?

The author recommends separating property taxes from the mortgage and paying them annually to earn interest on the savings, although she acknowledges this may not be significant for everyone.

What is the author's opinion on making money in the stock market?

The author refutes the idea that one cannot make money in the stock market, sharing her personal experience of earning significant income from her investments.

Why does the author discourage leaving bad financial advice in the comment section?

The author discourages bad financial advice because it can mislead viewers who are seeking to improve their financial literacy and well-being.

What is the author's view on the statement 'you need money to make money'?

The author believes that while capital can help make money, it is also possible to earn money through labor without needing initial capital.

What are some examples the author gives for making money without needing initial capital?

The author mentions opportunities like door Dash, e-bike rental companies, and car advertising as ways to make money without needing initial capital.

What does the author say about the relationship between debt and wealth?

The author argues that being out of debt does not guarantee wealth, as it often reflects a spending problem rather than an income problem.

Why does the author emphasize the importance of financial literacy?

The author emphasizes financial literacy to help people avoid falling for scams and misinformation, and to make informed decisions about their finances.

What advice does the author give to those who believe they would be rich if they were debt-free?

The author advises that simply being debt-free does not equate to wealth and that it's crucial to address spending habits rather than just the debt itself.