Tu es Pauvre si tu achètes ça (23 Achats de Pauvre)

Summary

The speaker shares insights on financial habits, emphasizing the importance of eliminating unnecessary expenses to build wealth. They discuss the impact of subscription services, news consumption, dating apps, and luxury purchases on one's financial health. The transcript also covers the influence of unhealthy habits like sugary foods, alcohol, and gaming on productivity and suggests focusing on self-improvement and smart investments for long-term success.

Takeaways

• 📰 Unsubscribing from newspapers and news websites is suggested as a way to save money and avoid negative news that can affect one's worldview and stress levels.
• 💰 The concept of opportunity cost is introduced to evaluate activities like reading the news, suggesting that time spent on news could be better used for more productive activities.
• 🚀 Focusing on self-improvement, such as exercising and developing skills, is recommended over using dating apps like Tinder, which can be time-consuming and not the most effective way to meet people.
• 🍿 The speaker criticizes the habit of watching Netflix as a seemingly harmless pastime but argues that it can be a significant waste of time that could be better spent on productive activities.
• 🍦 The consumption of sugary foods, both quick and slow-releasing, is advised to be reduced or eliminated for better physical and mental health, which in turn can improve productivity and financial success.
• 🔑 The use of virtual credit cards for online subscriptions is recommended to avoid不知不觉accumulated costs and to simplify the management of recurring payments.
• 't🎁 Giving expensive gifts is discouraged in favor of focusing on building capital for the future, suggesting that cheaper, thoughtful gifts can be just as meaningful.
• ☕ Avoiding costly coffee shops like Starbucks and making coffee at home is presented as a way to save money and break an addictive habit.
• 🐾 Pet insurance is used as an example to illustrate the general business model of insurance, suggesting that, on average, insurances are a losing financial proposition for consumers.
• 🍔 The negative effects of fast food are discussed, not only for its direct cost but also for its potential to reduce intelligence, lower energy levels, and indirectly affect one's financial situation through loss of productivity.
• 🍺 Alcohol consumption is identified as a significant hindrance to achieving financial and personal goals due to its depressive effects on motivation and ambition.

Q & A

What are the three categories of expenses mentioned in the script?

The three categories of expenses are useful expenses, enjoyable expenses, and a third category of very harmful expenses that seem interesting but are actually deteriorating your life and forcing you to remain poor.

Why does the speaker recommend canceling newspaper subscriptions according to the script?

The speaker recommends canceling newspaper subscriptions because they believe that reading the news is not a productive activity and is often a waste of time, providing mostly negative information that can stress you out and give you a negative view of the world without significant benefits.

What is the opportunity cost concept mentioned in the script, and how does it apply to the decision of reading the news?

The opportunity cost concept refers to comparing the cost of an activity you wish to do with all the other activities you could do to achieve the same result. It suggests that you should only engage in an activity if it is better than all alternatives, implying that the time spent on reading the news could be better used for more productive activities.

What is the speaker's opinion on using dating apps like Tinder Gold?

The speaker considers spending money on dating apps like Tinder Gold to be a poor use of time and resources, as these apps can be addictive, time-consuming, and not the best strategy for meeting someone of the opposite sex.

Why does the speaker suggest that watching Netflix can be a vice?

The speaker suggests that watching Netflix can be a vice because it is an accepted form of entertainment that does not make you feel guilty, unlike other social media platforms. However, it is still a non-productive activity that can consume a lot of time that could be better spent on personal development or other productive tasks.

What is the speaker's stance on sugary foods and their impact on health and productivity?

The speaker strongly advises against consuming sugary foods, including both quick sugars like candy and slow sugars found in cereals, bread, pasta, and rice. They argue that reducing or eliminating sugar from your diet can lead to better physical and mental health, which in turn can increase productivity and potentially earnings.

What is the issue with subscribing to multiple online services according to the script?

The issue with subscribing to multiple online services is that the costs can add up significantly over time without realizing it, leading to unnecessary expenses. The speaker recommends using virtual cards for online purchases and periodically canceling and renewing them to review and control these subscriptions.

Why should one reconsider giving expensive gifts according to the script?

The script suggests reconsidering expensive gifts because they can deplete resources needed for building future capital. It emphasizes that meaningful gifts do not have to be expensive and that experiences or time spent together can be more valuable and memorable.

What is the potential downside of regularly consuming alcohol as discussed in the script?

The script discusses that regularly consuming alcohol can destroy motivation and ambition, leading to a decrease in productivity and potential financial gains. It suggests that abstaining from alcohol can help in achieving personal and financial goals more effectively.

What is the speaker's view on the importance of being informed about current events through the news?

The speaker believes that while being informed about current events is important, it should not be the primary activity in which one invests their time. They argue that the time spent consuming news can be better utilized in activities that have a more direct and beneficial impact on one's life and success.

Why does the speaker consider video games as a potential hindrance to personal development?

The speaker views video games as a hindrance because they can consume the motivation that could be directed towards personal development. Video games use gamification techniques to keep players engaged, which can lead to a neglect of real-life goals and ambitions.

What advice does the speaker give regarding the consumption of fast food?

The speaker advises against the consumption of fast food, stating that it not only costs more than home-cooked meals but also has indirect negative effects on one's bank account by reducing intelligence, focus, and energy levels, all of which are correlated with financial success.

What is the speaker's perspective on the value of a university education in terms of learning and career advancement?

The speaker believes that a university education is often inefficient for learning practical skills, especially for careers where the knowledge gained is rarely used in the workplace. They suggest that for some fields, learning on the job or through online courses can be more effective and time-saving.

Why does the speaker suggest being cautious about buying luxury items like brand-name clothes or watches?

The speaker suggests that buying luxury items can be a poor financial decision, especially for those who are not millionaires, as the cost is not proportional to the benefits they provide in life. They recommend focusing on quality and fit over brand names for better value.

What is the potential financial benefit of investing in real estate over buying a primary residence, as suggested in the script?

The script suggests that investing in rental properties can provide a better return on investment than buying a primary residence. This can lead to additional income, potentially allowing for the租赁 of a larger and nicer home while still generating extra monthly income.

What is the main reason the speaker discourages gambling and what is the one form of gambling they consider worthwhile?

The speaker discourages gambling because it is extremely dangerous and can lead to significant financial loss. The only form of gambling they consider worthwhile is the 'game of business,' which can lead to long-term gains rather than losses.

What is the speaker's view on the importance of patience when it comes to purchasing a luxury watch?

The speaker emphasizes the importance of patience when purchasing a luxury watch. They recommend saving up and buying a watch of collection value from an authorized dealer, which can appreciate in value and become a profitable investment over time.

Why does the speaker argue that spending a lot on a car is often not the best financial decision?

The speaker argues that spending a lot on a car is often not the best financial decision because cars depreciate quickly and the initial excitement of owning a new car fades over time. They suggest that before becoming a millionaire, it's better to spend within one's means and avoid overextending oneself with a car lease or purchase.

What is the speaker's opinion on the role of a university education in achieving success in business?

The speaker believes that a university education is not always necessary for success in business. They argue that practical experience, self-learning, and determination are often more valuable than a degree from an unrecognized university in the business world.

What advice does the speaker give regarding the purchase of a primary residence?

The speaker advises considering the opportunity cost before purchasing a primary residence. They suggest that the money could potentially be invested in other ways, such as rental properties, which could provide a better return and allow for living in a larger, nicer home while still generating additional income.

What is the main takeaway from the speaker's 59-minute summary of their 10 years of business experience?

The main takeaway is the importance of making informed financial decisions, avoiding common money pitfall expenses, and focusing on investments that can generate long-term returns and contribute to financial success.