HOW TO ENTER YOUR RICH GIRL ERA | money mistakes, mindset and habits + how I invest my money!

Summary

The video script is an insightful guide on achieving financial abundance and wealth. It emphasizes the importance of a positive money mindset, avoiding common financial mistakes, and adopting rich habits. The speaker shares personal experiences, such as their journey from buying a luxury bag to establishing a healthy relationship with money. They discuss the significance of credit scores, the drawbacks of credit card debt, and the value of focusing on a single income source to excel. The script offers practical advice on budgeting, saving, and investing, including the use of budgeting apps like 'Rise Up' and investing in ETFs and the stock market. It also touches on the concept of passive income and the importance of financial literacy. The speaker concludes with actionable steps for viewers to start their journey towards financial freedom.

Takeaways

• 💡 **Money Mindset**: Cultivate an abundance mindset and believe that money always comes back to you.
• 🛍️ **Luxury Purchases**: Justify significant purchases by their utility and consider them as investments in your lifestyle.
• 🚫 **Financial Scarcity**: Avoid speaking scarcity into existence; instead, focus on abundance and what you can afford.
• 💸 **Money as Currency**: See money as a tool for obtaining happiness and value, not as an end in itself.
• 📈 **Visualize Wealth**: Actively visualize financial abundance and set clear financial goals for yourself.
• 🚫 **Expensive Label**: Avoid using the word 'expensive' as it can create a mental barrier; reframe it as a goal to work towards.
• 📊 **Energetic Vibration**: Your relationship with money and the words you use can affect your energetic vibration, attracting wealth or scarcity.
• 💳 **Credit Card Use**: Use credit cards for everyday expenses and pay them off in full each month to build a good credit score.
• 📱 **Budgeting Apps**: Utilize budgeting apps like 'Rise Up' to manage finances effectively and improve your financial well-being.
• ❌ **Debt Avoidance**: Stay away from credit card debt and buy now, pay later services to avoid falling into financial traps.
• 🏡 **Invest in Assets**: Prioritize investing in assets like the stock market over material possessions to grow your net worth.

Q & A

What is the main focus of the video?

The main focus of the video is to discuss the mindset and habits necessary for achieving financial wealth, including avoiding common money mistakes and adopting rich skill habits.

What is the first step towards achieving financial abundance according to the speaker?

The first step is to master the mindset of abundance, which means always believing that money will come back and not fearing the loss of it.

Why is it important to stop using the word 'expensive' when referring to items?

Using the word 'expensive' can create a limiting belief that the item is unrealistic or unattainable. Instead, viewing it as a goal to work towards can help maintain a positive and abundant mindset.

What is the speaker's view on using credit card debt or 'buy now, pay later' options?

The speaker advises against using credit card debt or 'buy now, pay later' options, as they can lead to overspending and financial strain.

Why is it recommended to not stay in the same job for more than two years?

Staying in the same job for more than two years can limit income growth. The speaker cites a Forbes article stating that doing so can result in earning 50% or more less over a lifetime.

What is the significance of establishing money boundaries?

Establishing money boundaries is crucial for controlling finances, avoiding overspending, and consistently budgeting, which are key to growing one's net worth.

How does the speaker suggest one should approach their relationship with money?

The speaker suggests viewing money as a tool to obtain happiness and value, rather than placing it on a pedestal. It's important to actively trade and be willing to lose money to maintain a healthy relationship with it.

What is the role of a financial advisor as mentioned in the video?

A financial advisor helps with investment decisions and provides financial advice, which can be particularly beneficial for those who want professional guidance without incurring hourly fees.

Why is it advised to invest in skills and education?

Investing in skills and education is important because it increases one's value and potential income. It also helps in gaining financial knowledge, which is crucial for making informed investment decisions.

What is the importance of having a separate sinking fund for expenses that do not contribute to building wealth?

A separate sinking fund helps to mentally and physically segregate money intended for non-investment expenses. This prevents confusion and the potential misuse of money that should be directed towards building net worth.

What is the speaker's perspective on investing in real estate?

The speaker suggests that while real estate can be a good investment, it may not be the best option for everyone, especially those in their early 20s. They recommend considering business investments and the stock market as alternatives.

Outlines

00:00

💼 Money Mindset and Avoiding Common Financial Pitfalls

The speaker emphasizes the importance of having a money mindset geared towards abundance, sharing personal anecdotes about their journey from financial fear to financial confidence. They discuss the need to stop making common money mistakes, such as negative self-talk about financial scarcity and the use of credit to fund unnecessary purchases. The speaker also stresses the significance of establishing healthy money boundaries and the transformative power of changing one's vocabulary to reflect financial positivity.

05:01

📊 Budgeting and Financial Apps for Wealth Building

The paragraph introduces the use of budgeting apps, specifically 'Rise Up,' to improve financial well-being and control over finances. The speaker highlights the app's features, such as monthly forecasting and the ability to connect with money experts. They also discuss the importance of avoiding credit card debt, focusing on one's strengths to excel in a particular business, and not stressing over money, which can lead to poor financial decisions. The speaker advises against staying in the same job for too long without seeking raises or new opportunities and against comparing one's financial situation to others.

10:02

🚫 Avoiding Financial Mistakes and Living Below Your Means

The speaker outlines several financial mistakes to avoid, such as assuming everyone else is wealthier than they seem on social media, and the importance of focusing on one's own financial goals. They discuss the rule of not spending more than 30% of one's income on rent and the concept of living below one's means. The speaker also addresses the misconception that wealthy people do not save, explaining the importance of investing and the dangers of inflation on saved money.

15:04

💳 Credit Card Strategies and Starting Small with Investments

The speaker talks about the benefits of using credit cards to build a credit score and the advantages of certain cards like the MX card from American Express. They also discuss the importance of starting small with financial goals and investments, suggesting that even small steps towards building financial literacy and an emergency fund can be significant. The paragraph also touches on the concept of investing in oneself through education and skill development.

20:04

💹 Investing in the Stock Market and Building Passive Income

The speaker shares their personal experience with investing in the stock market using the Free Trade app and the importance of investing in ETFs like the S&P 500 for diversification and growth. They discuss the need for long-term investment strategies and the benefits of reinvesting returns. The paragraph also covers the idea of passive income, giving examples like TikTok's creativity beta program and YouTube ad revenue, and the importance of budgeting and net worth over bank balance.

25:04

📚 Financial Literacy and Actionable Steps to Wealth Building

The speaker provides actionable steps to start building wealth, including applying for a credit card to build credit score, building financial literacy through reading recommended books or using apps like Blinkist, and developing a financial abundance mindset through affirmations. They also suggest downloading budgeting apps for better financial control and considering various investment methods while ensuring to educate oneself to make informed decisions.

Keywords

💡Money Mindset

The concept of 'Money Mindset' refers to an individual's perspective and attitude towards money and wealth accumulation. In the video, it is presented as an essential component for financial success. The speaker emphasizes the importance of visualizing financial abundance and adopting a mindset of abundance, where money is seen as a resource that comes back rather than a finite commodity. The video illustrates this through the speaker's personal story of shifting from a fear of spending to an attitude of 'how can I afford this?'

💡Financial Abundance

Financial abundance is the state of having more than enough money to meet one's needs and desires. It is a central theme in the video, where the speaker discusses how to manifest financial abundance through positive thinking and action. The video suggests that by actively visualizing and expecting financial abundance, one can attract more wealth into their life, as demonstrated by the speaker's progression from purchasing a Coach bag to a Chanel bag within six months.

💡Credit Card Debt

Credit card debt is the money owed on credit cards, which can accumulate interest and become a financial burden if not managed properly. The video advises against using credit to make purchases that one cannot afford, highlighting it as a common money mistake. The speaker also mentions 'buy now, pay later' schemes as tactics that can lead to increased debt, urging viewers to avoid falling into this financial trap.

💡Investing

Investing is the act of allocating resources, such as money, with the expectation of generating an income or profit. The video covers various forms of investing, including in the stock market and real estate. It emphasizes the importance of investing as a means to grow one's wealth and build long-term financial security. The speaker shares personal investment strategies, such as investing in ETFs like the S&P 500, and the importance of long-term investment horizons.

💡Budgeting App

A budgeting app is a financial tool that helps individuals manage their personal finances by tracking income, expenses, and setting budgets. The video mentions the use of a budgeting app called 'Rise Up' to improve financial well-being and establish healthier money boundaries. The app is praised for its simplicity, monthly forecast feature, and the ability to connect with a money expert for advice, which aids in better controlling one's finances.

💡Net Worth

Net worth is the total value of an individual's assets minus their liabilities, providing a snapshot of their financial health. The video stresses the importance of focusing on increasing one's net worth rather than just the bank balance. It suggests that building net worth involves strategic investing, saving, and reinvesting profits to accumulate wealth over time, which is key to achieving financial freedom.

💡Passive Income

Passive income refers to earnings generated with little to no effort from the individual after an initial setup. The video discusses the concept of creating passive income streams, such as through social media content generation or other automated revenue sources. It provides examples like TikTok creators who repurpose content for profit and YouTube videos that generate ad revenue, emphasizing the value of smart work over hard work.

💡Financial Literacy

Financial literacy is the knowledge and understanding of financial matters, such as how to manage personal finances, save, invest, and budget. The video encourages viewers to build their financial literacy through reading books, using apps like Blinkist, and learning from various financial resources. It is presented as a crucial step towards making informed financial decisions and achieving financial goals.

💡Sinking Funds

Sinking funds are savings set aside for specific, often non-recurring, expenses. The video differentiates between sinking funds and investments, noting that money spent on non-recoverable items like vacations or clothes is lost forever, whereas investments contribute to building net worth. The speaker advises allocating a portion of income to sinking funds for planned expenses, thus managing financial resources wisely.

💡Diversification

Diversification is a risk management strategy that involves spreading investments across various financial instruments, industries, or other categories to reduce exposure to any single investment. The video touches on this concept when discussing stock market investments, particularly in ETFs like the S&P 500, which includes a broad range of companies to mitigate risk. Diversification is portrayed as a smart approach to investing to balance potential gains with risk.

💡Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently, the purchasing power of currency is falling. The video mentions inflation as a reason why simply saving money in a bank account is not an effective long-term financial strategy. The speaker explains that the value of money decreases over time due to inflation, which is why it's important to invest and seek ways to grow one's wealth beyond the rate of inflation.

Highlights

The importance of a money mindset and how it can attract wealth into one's life.

The story of a personal luxury purchase and its impact on financial mindset.

Visualizing financial abundance and actively manifesting wealth.

The shift from fearing money loss to seeing money as a means to acquire value.

The negative impact of speaking financial scarcity and the need to change one's vocabulary.

Establishing healthy money boundaries and the role of budgeting apps in financial well-being.

The dangers of using credit, loan, and buy now pay later services for unnecessary purchases.

The concept of specializing in one area to become the best and attract wealth.

The importance of not stressing about money and how it can affect one's choices and health.

The advice against staying in the same job for too long without seeking income growth opportunities.

The detrimental effects of comparing one's financial status with others on social media.

The strategy of living below one's means and allocating income towards taxes, living costs, investments, savings, and personal spending.

The misconception that wealthy people do not save and the reality of investing to combat inflation.

Using credit cards to build a credit score and the benefits of reward programs.

The recommendation to start small with financial goals that are realistic and achievable.

Investing in the stock market with a focus on ETFs for diversified and predictable growth.

The value of having a financial advisor and the importance of investing in one's pension for retirement.

The potential of investing in skills and knowledge as a form of self-investment for a better financial future.

The concept of passive income and leveraging social media platforms to generate revenue with minimal effort.

The final advice on focusing on net worth over bank balance and the steps to start building wealth today.

Transcripts

I am going to be rich like there is no

way I am going to end up living a life

where that does not happen and because

of this desire of mine I have pulled so

much time and energy into reading books

about money into learning the secrets of

millionaires into watching so many

videos and reading so many articles on

the hacks that rich people use that

separate them from the average person it

has also come to my attention the amount

of common money mistakes that people are

making that is keeping them from a life

of wealth so in this video I'm going to

spill all of the tea we are first going

to discuss money mindset because that is

so underrated then we're going to be

talking about money mistakes you need to

stop making today and then in the last

chapter we're going to be talking about

rich skill habits to enter your Rich go

era before we start don't forget that

season 2 of my podcast self-obsessed is

coming out next week and you can check

it out via the link below in the

description along with the pre-order

link for my book which is coming out

this summer which is The Ultimate Guide

to achieving radical self-love I also

have all of my socials linked Below in

the description along with my second

YouTube channel but for now let's get

into it chapter number one money mindset

now I already have a video on financial

abundance a complete guide on my channel

where I talk a lot about money mindset

so I'm just going to be giving you an

overview of that but if you want this in

much more detail I highly recommend

going back to watch that video step

number one abundance you need to master

the mindset of money always comes back

let me tell you a little story in

January 2023 I treated myself to my

first luxury purchase which was a coach

tote bag and I Justified it by saying

I'm going to use it every day because I

can put all my camera camera stuff and

my laptop in it I also got it on sale

but I think it came out to around £200

and at that point I just graduated it

was a very risky purchase for me I

didn't feel comfortable spending that

amount of money that was January 2023 6

months later I was in Paris buying my

first Chanel classic

flatback how crazy is that and truly

this is all down to my abundance mindset

which allowed me to attract a large

amount of money into my life to be able

to afford that so I was so uncomfortable

with treating myself to a Coach bag

which I needed cuz I needed a big bag

for all of my stuff because I used to

fear money I used to think losing money

was a bad thing and throughout the

beginning of 2023 I was doing so much

self-education to flip that mindset and

I went from I can't afford this to how

can I afford this I also started

visualizing Financial abundance and I

found a picture in my Snapchat memories

like around this time in 2023 I like

took a selfie and I wrote I will make

six figures in a year and I found that

the other day and I was like I was

nowhere near that and I can't remember

what I was saying to myself that evening

but I was so sure in it I wrote it down

because I knew one day I was going to

look back at that so I was actively

manifesting as well it's also important

to stop seeing money as a destination

cuz when you do that you st putting

money on a pedestal but money isn't on

the pedestal you are on the pedestal

money is just a currency to get you what

will make you happy and what will bring

you value into your life it's nothing to

fear you should actively be trading it

and actively be willing to lose it it

brings you value in the form of food and

clothing and experiences and please

please please most of all you need to

stop speaking your financial scarcity

into existence by repeatedly saying I'm

so broke I can't afford this I can't do

that I'm never going to be able to

afford that while that may be true in

your case and in your life right now

speaking according to those

technicalities keeps you living in

technical land and we don't want to live

in technical land we want to live in

abundance land so you need to switch

what you're saying even if it's not

technically true for the reality you're

living right now because we're trying to

manifest what we want not just tolerate

and accept what we've been given so to

do this you need to remove limiting

phrases out of your vocabulary a common

one is the word expensive I don't like

using the word expensive because even if

something is technically expensive if I

am saying that about something in my

mind I making it out to be unrealistic

I'm making it out to be something that

I'm not capable of getting so if

something is technically expensive it

just becomes a goal it just becomes

something that I'm working towards

because I'm going to get it regardless

the reason that these little mindset

shifts is so important is because it

affects your energetic vibration and

when you start switching what you're

saying and when you start switching how

you perceive money your energy will be

more aligned to somebody who is wealthy

who has money who is a millionaire

because they think that about money

which is why they have the ability to

attract more of it into their life this

also links into the importance of your

relationship with money like I said is

simply a currency is nothing to fear you

have this low energetic vibration of

fear around it and the more that you

save it and the more that you cling on

to it you are basically communicating to

the universe that you feel like you're

never going to have enough of it and

whatever you believe you are going to

receive so you're going to keep

manifesting the exact same reality into

your life and speaking of your

relationship with money this also links

into money boundaries it took me a

really long time to establish healthy

money boundaries as soon as my income

started to rise I really struggled with

overspending and I was never able to

consistently budget and stick to my goal

of a monthly spend which I set in the

first place to be able to grow my net

worth if I want to acquire wealth then

it matters more how much money I have in

Investments assets than meaningless

things like a bunch of clothes and

expensive items so I did some research

around this and I discovered how useful

budgeting apps are I recently switched

to rise up because they're not only a

budgeting app but they are a financial

well-being app which I think is really

unique and I haven't seen anybody else

do on the App Store and this makes it so

much easier for you to actually improve

your relationship with money and also

your energetic vibration around it

because you're going to feel like you

have more control over your finances the

app is super easy and simple to use I

personally love the monthly forecast as

showing you how much money you're

predicted to have or lose plus the

budget apps which show you how much

money you have left to spend for the

rest of the month in each category of

your life whether that be grocery

shopping bills rent subscriptions Etc

before using this app I used to go

through an entire spreadsheet every

single month to calculate what was going

in and out and it was way too much work

but this app lets you do it all for you

it has way more features than any other

Financial app out there for example you

can actually chat to a money expert

within the app to gain more clarity on

any of your money concerns the app also

prioritizes making making joint finances

much easier for their users which I

personally love because I haven't

discovered that feature before and it's

going to make moving in with my

boyfriend in 3 months way easier its

monthly forecast helps you predict the

unpredictable so you know how your

monthly finances are going to end before

the month has even started and the best

part is that rise up has been proven to

improve customers Cash Flow by £530 per

month so if you are ready to finally

take control of your finances so that

you can enter your Rich skill era then

you can sign up to rise up via the link

below in my description chapter 2 stop

making these mistakes right now I beg of

you step number one using CLA or credit

card debt so icky okay no no no no no no

if you don't have the money for it now

you should not be spending it especially

when it comes to stuff like Asos or

makeup hules no okay and my rule with

everything is unless you can buy three

of it you shouldn't be buying it at all

using buy now pay later is not the one

it was just a tactic created by

companies to get you to buy more stuff

don't fall for that trap I beg of you

step number two this is a more Niche one

but people who do loads of different

things which then gets rid of their

chance to be the best at one thing being

the best at one thing and being the top

of your Pile in whatever industry you're

in automatically so much money comes

with that so much wealth so many

Partnerships so many opportunities but

you're telling me you have a nail

business and then you have a jewelry

business on top of that and then you

also do swimming lessons and then you

also do this or that and that is great

and that is very honorable and I feel

like a lot of people tell you to do so

many things at once I feel like Max you

should have a job in a side hustle and

if you are lucky enough to have done it

for a consistent amount of time where

you were getting a good amount of money

from your side hustle I always believe

in the concept of burning the boats

which basically means getting rid of

your plan B and pouring all of your

effort energy and time into plan a so

your side hustle for example and I can

vouch for this because I did it with my

YouTube channel I had no money I was a

graduate I was living at home with my

family and I decided not to apply to any

graduate schemes or any jobs which is

what all of my friends were doing to

give myself 6 months to p everything

into this and if it didn't work I would

go and get a job and guess what it did

because the adrenaline and all of the

pressure and the fact that there was

nothing for me to fall back on made sure

that I could make sure that I made this

work three I used to stress about money

all the time and then when it would come

to going to the store to do my weekly

food shop I would like obsessively check

over the price tag on fruit and I kid

you not I went the first 2 years of

University not eating fruit because I

thought it was way too expensive so

guess what I lived on I lived on freezer

food and looking back I just regret it

cuz it's like I shouldn't have feared

money in that way in return I would be

getting nutrition and energy to actually

be able to work harder in University and

be a fully functioning human being and I

just wish I didn't make that mistake

because I was basically reinforcing the

belief that money was scarce and I was

never going to have enough of it to the

point that I wasn't even deserving of

basic nutrition money mistake number

four staying in the same job for a very

very long time now this is an idea that

has been sold to you ever since you

started applying for jobs ever since you

were in school that you should be loyal

to your company but the truth is in

order to actually make more money over

time you should never stay in the same

job for more than 2 years because at the

end of the day you have to keep

prioritizing increasing your income and

I know this because there was recently

an article written by Forbes which

stated people who stay in the same

company for more than 2 years on average

will make you earn less over your entire

lifetime by 50% or more so please start

asking for raises and switching jobs

very shamelessly step number five stop

comparing your life to everybody else's

because it's either going to make you

overspend or create even more scarcity

about your own position with money

because you think everybody else has so

much of it I'm not saying that Financial

abundance isn't available and a lot of

people have it that's for sure but I

promise you it's not nearly as many

people as you think it is there are so

many people online that have been kind

of exposed that they support all of

their designer purchases by being in

credit card debt they fullon don't even

pay their taxes you don't know how many

of their luxury purchases are fake or

who's buying it for them whether it's

their partner or their family while yes

there are people that are generally

self-made and are wealthy it's not every

single person from your hometown like

social media makes it appear it to be

trust me pictures never tell the full

story please stop assuming that you know

other people's financial situation cuz

you never do it's better to just focus

on yourself for me I do this by

remembering the rule that your rent

should never be more than 30% of your

income that is an ideal and that means

that you'll be able to save an invest

enough your rent should not be taking up

everything you earn in a month I know

sometimes you can't control it but if

you have been considering should I stay

with my parents for longer or should I

move out then I'd say play it by that

rule to figure out how you're going to

split your income with this rule of rent

being 30% of your income with rent I

also include my monthly bills and my

food shop Allin one and for me it is

less than 30% so I can justify living

out does that mean yes I could actually

afford another bag or a bigger apartment

yes but just because you can afford it

does not mean that you should buy it you

should always be living below your means

the next step links into what I said

before you can't afford something unless

you buy it three times and you know what

this links into what I just said a lot

of people don't pay attention to this

rule which is why they get themselves

into so many financial problems because

they'll just about have the money to buy

that new Louis Vuitton bag and then

they'll go out and buy it for me I look

at my money like okay a percentage of

this is going to go to tax so that's not

even mine so then I look at my money

after I would have to pay that then I

take 30% away from my living cost my

rent and all of that then I'll take

another 20% of my income away for all of

my investments and then whatever I have

left some of it will go to savings and

then some of it is mine I don't look at

my entire paycheck and think oh I'm fine

and I could like spend 50% of this that

is how you get yourself into so much

trouble very very quickly and then the

last money mistake which is keeping you

away from entering your rich girl era is

wealthy people do not save I used to

make this mistake a lot where the bigger

my bank balance was the more comfortable

I felt cuz I thought I'm not spending

much and I look how much I have more now

in my bank account no this is not what

the wealthy do and it's because of

something called inflation your money is

always losing its value when it's kept

saved in your bank account and now I

have this mindset where if my money goes

beyond a certain amount in my bank

account I know something needs to be

changed I know I need to move things

around I know I need to invest more I

know I need to put more into my pension

and if I've already done all of those

things then I should be reinvesting it

back into my business to then be able to

make even more money and I know it's

very important to have cash that you

know just in case is a rainy day I

actually have a general investment

savings account with Lloyd's your

banking app a lot of the time will have

loads of different options to for you to

open a high savings account where you

can still withdraw instantly whenever

you need it so you still have that

security but I've already made money on

the savings that I put into that account

and it's been 3 weeks otherwise it would

have just been sat in my bank account

doing nothing and losing its value my

rule is I'll always have 3 months of

expenses saved in my bank account after

that it's going into the stock market

and it's going to be invested and this

links into chapter number three rich

girl habits this is where I'm going to

teach you about my investment strategy

in depth and a bunch of other hacks that

you can use hack number one let's talk

about the importance of credit cards cuz

yes you most definitely should not be

getting into credit card debt and

thinking is giving you money that you

most certainly do not have but you

should be spending on your credit cards

with your grocery shop or your clothing

shop all of your monthly expenses to

then build up your credit score because

you are going to end up paying it on

time and in full every single month

that's what's going to build up your

credit score so then you can buy a house

so then you can run an apartment and I

highly recommend investing in getting an

MX card for this that's American Express

I have the gold one and basically it

gives you points on every single

purchase which you can then put towards

your grocery shop or the clothes that

you want to buy or even flights and this

means that when I do want to spurge on

some clothing a lot of the time is

basically free because all of the points

that I gathered from just paying my

bills or doing my grocery shop is put

towards up I also heard that apparently

if you buy a car from Mercedes you get

like thousands off just from being an MX

customer and you also get like deliveroo

credit and a bunch of other discounts

which can make the annual fee of having

that card very worth it rich SCH hack

number two you have to start small a lot

of the time we see so much wealth in

social media and it overwhelms us and

that's what Fosters the scarcity mindset

in the first place you feel like your

financial goals are so far away you feel

like you're never going to have it like

anybody else stop thinking about the

Burkin stop thinking about the house

stop thinking about the Chanel bag no

you need to start from where your

position is so let's say you are a

teenager and you've just started making

money your financial goal should be to

set up an emergency savings that's it

that's your first step and because

that's so close to your financial

situation you are more motivated to go

out and get it and you know you're going

to get it which then helps start

building up that abundance mindset let's

say you don't have a job at all because

you're studying then your financial goal

is to build up your financial literacy

so you're more prepared preped for when

you do get a job and then if you do have

a job your financial goal should be to

start investing 5% of your income every

single month to the stock market and

that leads us to investing in the stock

market and I'm going to share with you

guys how I do this so I use an app

called free trade I only started

investing in the stock market 6 months

ago I wish I started earlier and right

here it says I've made

4,800 in the last 6 months from

investing yes I get to invest more than

the average person would but my money

has grown and no matter what you're

going to invest it's also going to grow

if you have the right strategy so I

personally invest in a lot of ETFs that

stands for exchange traded funds this is

a basket of stocks so for example the

S&P 500 is a group of the 500 largest

companies in the US I believe and if you

research this ETF you'll see a line

going right like this because it's very

consistent in its growth your

Investments are spread out amongst 500

different companies rather than pouring

all of your money into Tesla or apple

which might plummet down one day so I'll

share with you guys what I invest in I'm

not saying that you should copy this I'm

just here to give you a bit of inso so

the most amount of money that I've

invested is in the S&P 500 because it's

lowrisk because it's quite predictable

after that I've invested in Nvidia that

is obviously just a singular stock but

they have grown hugely over the last

year 2 years and that has given me a lot

of returns after that I've invested a

lot in Spotify then Apple which is

actually making a loss right now but

this also leads me on to the point that

sometimes your stocks that you invest in

are going to be in the red and you're

going to be making a loss on them but

that is completely normal and actually

reading the book girls that invest gave

me more confidence about this I highly

recommend you guys read that book it's

linked on my Amazon storefront and it's

just that the stock market goes up and

down up and down like this every day

every week every week right but if you

look at it over the spine of a year it's

still going up it's just going up and

down up and down so you should not be

pulling your money out out panicking

because it went down one day or down one

month because it's always going to pick

back up and the goal of the stock market

is to keep your money in there for as

long as possible so even though I've

made significant Returns on my stocks I

have not taken out any of that money I

want it to be there for at least a

decade and that is how you get the most

out of it I've also invested in Shopify

in Elf cosmetics and then the footsy 100

that is a group of the 100 largest

companies in the UK that is also an ETF

um then I've invested in Microsoft TD

Bank that are some stocks that will give

you dividends so that means that you'll

make a little bit of money on the side

every single month the more that you

invest the more you're going to make

Amazon meta and then a few other ETFs

but those are like my biggest amount of

money like invested in all of those that

I just named the next Rich go hack is to

get a financial advisor you don't even

need to pay them I don't pay mine they

simply take a percentage of the money

you give them to invest and yet you have

their finan CI advice they tell you how

to invest so you're not stressed about

doing the wrong thing and this has

helped me massively it's helped me

invest in my own pension so that I'm

setting myself up for retirement

literally why not just get somebody else

to do the hard work for you and tell you

the secrets of what the rich are doing

the next rich girl hack is about

investing in housing now this is a very

popular opinion that a lot of people say

I personally have not done this will I

do it one day potentially but it's not

even on my radar right now I've actually

been advised not to right now because a

lot of people don't understand or see

the Phantom hidden costs behind

investing in real estate I would argue

that a business is actually a much

better investment than a house because

it's a cashr investment meaning that you

can make money from it right now rather

than putting so much money into it

having to then pay so much tax on it

anyway having to worry about when you're

going to get tenants in to rent it out

and then you have to wait like 20 years

just to make a good return on it however

Alternatives of this is setting up an

Airbnb business there are so many um

Pros on on Tik Tok on social media that

actually sell courses or teach you how

to do this and that is a little bit more

lucrative as well as setting up a HMO

which is when you buy a property and

then you rent out every single bedroom

but I am not an expert on that I am just

saying I think it's better especially

when you're in your early 20s to lean

towards a business investment to build

up that cash to then eventually buy M

multiple properties if that's how you

wish to invest your money I personally

just invest mostly within the stock

market the next rich girl hack is that

investing is also for skills it's not

limited to moving your money around

Paces you yourself are an investment and

you need to be doing yourself the favor

of soaking up as much Financial

knowledge as you can to give yourself a

better future this doesn't just go for

learning what to do with your money but

it also goes for investing in yourself

by learning new skill sets you can

Google and probably click on the first

article and learn what the highest

income skills are and then watch YouTube

videos for free to learn how to do them

go on to skillshare to do courses to

learn them a mentor or you can invest in

yourself by actually buying a course or

buying a book on doing that and then

starting a side hustle to build up that

stream of income this links onto my next

step which is all about passive income

literally no one has an excuse not to

have a passive income Source cuz listen

what I have seen recently on Tik Tok is

people will screen record my YouTube

videos make them into shorts their

entire Tik Tok feed is just clips from

my YouTube videos and a lot of them will

go viral because people have never seen

me before loads of comments like

millions of views and the clips are

always over 1 minute long so then they

get into the creativity beta program on

Tik Tok they are making bank I'm not

saying thousands per month but a few

hundred per month just from screen

recording a video they didn't have to

sit down and plan my YouTube video they

didn't have to film it they didn't have

to edit it and yet they're still making

a passive income Source where my videos

on their pages are generating views

listen I respect the grind and because

we live in an age of social media work

smarter not harder same goes for those

fireplace videos people make on YouTube

that are 2 hours long you find a

fireplace video that AI could literally

generate for you post it ends up getting

a million views people watch it on Loop

all day long and you get so much money

from YouTube ad revenue and you are

making money while you're sleeping and

you had to put minimal effort into it it

was like a one-time 5 minute job the

next Rich go hack is money budgeting

which obviously I already mentioned so

using a budgeting app recording your

business expenses if you're a business

owner like I am and really I have a

calendar alert every single month where

I sit down at the end of every month to

really analyze what went out what came

in how I could potentially increase my

income the next month what things I

could step back from when it comes to

spending not to save but just to

redirect that money that may have gone

on a few too many clothes then into

reinvesting into my business or into the

stock market to then build up my net

worth cuz your net worth is the thing

that's going to make you a millionaire

not the amount of clothes that you own

and this links into the final rich girl

hack before we get onto the homework

chapter which is net worth over bank

balance so let's use an example for this

let's say there's somebody who's making

5,000

per month the average person would look

at their salary and think £5,000 I can

actually go out here and eat there and

buy these clothes a person who is trying

to build longtime wealth will look at

that £5,000 and think how much of this

can I invest to increase my net worth so

it actually builds up my financial

status rather than going into sying

funds so when you spend money on going

on a holiday or buying clothes or makeup

or eating out that is a sinking fund

that is money that you are never going

to get get back that you have completely

lost however if you look at £5,000 and

you think 2,000 of my monthly salary I'm

going to put half of it into the

starting Market I'm going to put another

half into my pension I might put an

extra 500 into this business or whatever

or invest in that thing that is the

thing that is then building up your net

worth so you're keeping a lot of your

salary to then maintain and grow your

wealth over time because your

investments will make you extra money so

for example I have a calendar alert

every single month which tells me the

percentages of how much I'm going to put

towards everything that I invest in and

various different assets and then I

actually have a completely separate bank

account which is a syncing fund where I

will transfer a small percentage of

money and that is the money I have said

goodbye to I don't think I have that

money I know I'm preparing to lose it

that is my holiday fund that is my

clothing fund when you keep it all

together in one bank account you get

confused and you think you have more

money than you actually have and that is

a very dangerous road to go down and for

those of you who don't know what a net

worth is your net worth is essentially

your assets minus your liabilities and

the total of that that is then your net

worth so assets are things like money in

the stock market your savings account

real estate pension cars jewelry Birkins

even and then your liabilities are car

payments if you didn't pay it off in

full your mortgage payments your credit

card payments recurring costs like that

and lastly chapter number four your

homework actionable steps you can start

today to start entering your rich girl

era in 2024 step number one I need you

to apply for a credit card if you don't

have one already if you don't want to

get dyamics is absolutely fine go to

whatever Bank you're using you'll get a

credit card for free this is not free

money this is so that you can build up

your credit score to do a favor to your

future self step number two is to build

up your financial literacy so I have an

entire folder on my Amazon storefront a

financial books for you guys to check

out it's linked Below in the description

so girls that invest by Simon core is a

great one if you're an absolute beginner

Rich Dad Poor Dad is another great one

Think and Grow Rich is another great one

the 4-Hour Work week I personally loved

because it helped me with my money

mindset and completely switch where my

priorities were in business and how to

work and what kind of job to go after

that one I would say is more for

entrepreneurs oh and the psychology of

money is also a great one if you don't

want to buy these books um I use the app

blinkist a lot this is where somebody

will read the book to you in your

headphones homework task number three

you need to start building up your

financial abundance mindset and I would

say do this through affirmations you can

Google these you can make them up or you

can even go onto YouTube and type this

up and there will be people who repeat

this there will be subliminals to help

you get richer there'll be phrases they

say that help you rewire your mindset to

help you develop a healthier more

abundant relationship to money I

personally would say it's better to make

them up because then you can tailor them

to make sure they are countering all of

the limiting beliefs that you hold about

money the next hmor task is to download

the app rise up to make sure that you

are on top of your monthly budgeting you

have your monthly forecast and you can

create better money boundaries the next

homework task is optional you can start

investing in the stock market with just

a little bit of money if you have some

in your savings try the S&P 500 make

sure you do your own research because I

am not a financial advisor I'm just

sharing what I personally do but I am

saying it's so worth looking into and

the last and I would honestly say most

important homework task is choose a

method of investing that interests you

and you feel like you would do so let's

take the stock market for example some

people do Forex some people do Bitcoin

and stuff I personally don't know

anything about that I'm not interested

in doing that but let's say you are I

want you to then go on Instagram and Tik

Tok and search it until you find

creators who specialize in that Niche

and their entire page is dedicated to

educating people on investing in those

ways so that once again you can start

building up your financial literacy and

make sure that you are making informed

decisions about investing your cash

investing always risks you losing your

money and that is important to remember

and that brings us to the end of this

video I hope you guys enjoyed it and

learned something new if you did comment

down below let me know what you learned

because it really helps me in improving

my videos make sure you also check out

all of the links below you can check out

financial literacy box on my Amazon you

can follow me on my other Pages my

YouTube my Instagram my Tik Tok I hope

you guys enjoyed this video and I will

see you guys same time next week on

Friday for a brand new one I appreciate

you

[Music]

bye