7 things to NEVER do with YOUR MONEY! (#7 is obvious)

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You must gain control of your money or the lack of it will forever control you today we’re talking about seven things you never want to spend your money on seven things you never want to do with your money ever guys these are the seven things i see so many people doing all the time and i’m like that is a really bad decision for your money to be going this place or

That place or just sitting there doing this or doing that guy so i hope you really enjoy this video today let me know if you are doing these seven i hope you or not i hope you’re not doing any of these but let me know in that comment section if you are let me know if you guys enjoy this let’s get into us the number one thing is just having your money sit under your

Mattress that’s a good old expression of just having your money just sit around if you’re just having your money sit around do nothing realize everything is getting more expensive by the day if think about the thing about when you were kid maybe you’re watching this you were twenty or twenty years old down with your watch nishan or thirty or forty or fifty years

Old think about being a kid do you remember how much stuff was i can guarantee you when you think back you’re like dude cars were drastically cheaper back in the day houses were drastically cheaper you know the price of the average phone you know if you grew up and you know you’re around my age which you know i’m a little under thirty right now like phones were

Dramatically cheaper like cell phones you know when i was in high school and whatnot like the average cell phone was like 200 bucks no if you want to get an iphone or you know one of the best iphones or samsung’s it’s like seven hundred eight hundred dollars like everything goes up drastically in price a gallon of milk a pound of chopped meat like everything gets

More and more expensive a big mac at mcdonald’s for pete’s sake i mean everything goes up in price so what you need to do is you need to have your money making you money so then you the amount of everything else going up guess what you’re making more money as well so how do you do that well you could put money in a savings account but savings accounts are not even

Gonna keep up with how much inflation is it’s not even keep up with how much everything how much everything’s going up in price so if saving is accounting not the best way if sir it’s certainly better than keeping it in a mattress but it’s not not even close to being the best way if you do a longer term cd account maybe you can get a two or three percent yield on

That meaning you’ll make two percent or three percent per year if it’s a longer term out cd now you can’t pull out that money early otherwise you lose your fee so it’s gonna be knee to be probably at least a three to five year cd account you’re gonna need to put it in to where you can’t really touch that money for at least three to five years that’s a way you can

Go at the end a you can go that way these should be able to keep up with things and you’re basically taking almost no risk because a bank is insuring that money at the end of the day that’s the way you know you can go real estate investing real estate investing one you need to know a lot about real estate two you need to have a lot of money generally behind you you

Can’t just you know i have a thousand bucks or ten thousand bucks and you know buy property that’s kind of hard to do unless you you know somehow you know how to finance it properly and all those kinds of good things if you can do that possibly stock market investing what i preach on this channel the thing that i preach more than anything i teach you guys about

Stock market investing that’s generally gonna be the best place for most people to go now you don’t have to go the way i go where i actually pick stocks and i go into stocks you can do the route of just putting the money in index fund hey you just put the money in an index fund something that tracks the s&p 500 the dow and goes up as much or down as much as

Those indices do right you’ll probably make eight percent a year for the next i don’t know 40 50 60 years however long you have the money in there that’s not so dang bad after all is it that’s a pretty dang good return your your money’s gonna be one up at a much faster rate than everything else going up because that not everything else is gonna go up seven eight

Percent per year but your money will probably be going up that much on average per year so that’s the phenomenal way but just having it sit under your masters just having to sit on the sidelines not a good idea unless you have a huge expense you’re about to do or unless maybe you know you’re so well timing the market you know something bad is about to happen or

Something so you have money sitting on the sidelines things like that are fine but for the average person to just have a bunch of money sitting around it’s a really bad idea at the end of the day guys number two is buying penny stocks with her this is one of the worst things i see people do i’m penny stocks with the guys know i’ve never met a person in my life and

They were never even heard about person in my life who made money long term buying and selling penny stocks penny stocks is like gambling penny stocks you don’t need any requirements as far as with most the penny stocks out there you don’t need requirements as far as filing with the sec as far as having auditors audit the numbers so any numbers can just be made

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Up out there guys say when you invest in most of these penny stocks they can just put whatever numbers down they want oh we made 10 million dollars in revenue this year oh we’re gonna make 800 million dollars in revenue next year like literally most these penny stocks can just make up numbers and a lot of them are pump and dump scams because there’s such small

Companies we’re talking about like you know literally if you put like a thousand bucks in some of these penny stocks like that would move the stock up drastically when most companies the big ones i talk about right you need to have hundreds of millions of dollars going into those companies or at least tens of millions to really move that stock up or down like some

Of these penny stocks a thousand bucks to move it up or down so what you’ll have happened a lot of times you’ll have an individual will go in and buy a bunch of the penny stocks right they’ll put a bunch of money in a penny stock and that stock will go up a bunch then they’ll send out newsletters and all this stuff hey by xyz penny stock it’s gonna probably go up

A lot tuesday all those people start buying in then that original shareholder starts beginning to sell shares out so they make a profit it’s called a pump and dump scam and you can do that with penny stocks because there’s hardly any money in those stocks you can’t do that with an app i don’t care who came out and said you know they bought apple stock i mean maybe

Warren buffett could move it maybe if warren buffett said he was sellin apple shares maybe he could move it because he’s the most influential investor literally in the world and it’s by far he is right maybe he could move the stock but the majority of billion-dollar companies out there you can’t just move those by saying hey i’m invest in this stock buy the stock or

I’m selling the stocks or sell this stock like you can’t just move regular companies like that unless moved like i said maybe your warren buffett carl icahn didn’t do it to a certain extent he’s another billionaire it’s really hard to to ties with those tight butt companies out of huge people with penny stocks you can do it all the time and it’s sad and i see so many

People lose money over the long term penny stocks maybe they get in a hot one at first they make 50 bucks or a hundred bucks or something like i’m gonna make so much money doing this and then it just gets worse and worse as time goes on guys so don’t don’t ever do that and the number three one is buying paint and painting your walls all around your house a bunch

Of funny colors if there’s a lot of different things we’re talking about in this list and never do with your money why do you never want to do this by the way i’m in the real estate industry i have a real estate marketing company and i do photography videography real estate consulting all this stuff so i know a fair amount about real estate what happens is people

Paint their walls all these different funny colors right then they go to sell that house and they don’t paint them a different color and then guess what happens massive amounts of buyers are turned off because those walls are bright green or bright yellow or orange or black or whatever weird color walls in a house need to be white or beige or maybe gray at the at

The most you can’t have a bunch of funny colors or literally it will turn off people when people see it they don’t even want to mess with it because a lot of people they like a turnkey house they just move in now and everything to be done that’s the majority people out there trust me i know the buyers out there the majority people are not looking for a fixer-upper

They don’t want to go around painting all the walls and they sure as hell are not gonna want your bright green color that you thought was so great okay so if you do paint your walls just realize you need to paint them again a normal person color before you go ahead and bed and put that house in the market i’ve been so many times i’ve taken photos of homes and they

Got these ridiculous color walls and a home sits on the market for longer and longer and longer and longer than a normal home would then if they just had that kitchen painted in a normal color and not something ridiculous not a bright pink they would have sold the house so much faster guys so it’s a really bad investment to you know even paint your house in the

First place unless it needs paint but to painted a bunch of funny different colors it’s a really bad idea and just realize if you’re gonna spend that money you’re gonna need to also spend the money to then have a painter come in again or you do it yourself again and buy a bunch more paint that’s a normal color a white a beige or gray or something like that guys so i

See that time and time again don’t ever paint your your house a bunch of funny colors on the inside it’s a bad bad idea it’s gonna cost you a lot of money the number four way is leverage it don’t ever leverage your money what does that mean it means to take a dollar shoot up with steroids it means basically you can leverage a lot of different ways the way i’ve done

It and failed in the past is through stock market investing i’ve talked about the year 2015 when i lost $75,000 trying to leverage my money i would basically you know take my dollars and then i sodality investments allowed me to invest another dollar on top of that so for every dollar i had i can invest another dollar so if i had $100,000 in the market then i could

Essentially invest $200,000 the problem with this is is when things go bad they really go bad and if your stock goes down which i’m a long-term investor it almost forced me into a short-term trader which i absolutely fail at so don’t ever mess with leverage don’t ever think you’re such a great investor that you can just you know compound your my you just invest more

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And more it’s a bad idea guys trust me i know i’ve been down that route i’ve been down that route i’m one of the most disciplined people out there and someone that’s gotten 30 to 40 percent gains in the stock market per year i’m one of the best investors you’ll ever find and i failed at it so if i failed at it don’t mess with it and by the way it started out good

At first it was going well it was going well at first i was like i was making money at first and then it just got drastically bad so if it went bad for me 99.99999% of people is gonna go bad for them as well guys so don’t ever leverage your money don’t mess with that guy’s a really bad idea i don’t care how great of an investor you think you are just don’t touch

It guys don’t touch it number five number five is a buying smokes buying alcohol buying caffeine coffee so that’s an acai sect all these ones oh i know there’s probably some of you guys out there like dude wait a minute i have a cigarette in the mouth right now i got a beer and i’m drinking a coffee so let’s talk about these one by one so smoking okay so smoking

Can cost you a lot of money not just from the respect of obviously you if you’re smoker you got to keep buying cigarettes right and it’s a very addictive thing the nicotine in them makes it a very addictive all those chemicals you pump in your body so first off you’re gonna have to buy smokes all time i mean i worked at kwik trip i worked at walgreens two places

Sold cigarettes and you know it was the same customers coming in day in and day out buying a new pack of cigarettes two new packs of cigarettes a carton of cigarettes depending on how much they smoke that’s very costly guys i mean more grows you know which is probably the most popular cigarette it’s like six seven bucks a pack okay then on top of that your health

Insurance is going to be a more expensive than an average person and on top of that this could potentially cost you a lot of money because what i’ve seen with a lot of smokers especially a lot of older smokers is in their workplace if they hadn’t had a smoke in a certain amount of time they’re much more likely to snap they’re much more likely to you know be in a

Situation where they have a bad attitude towards someone else which will end up costing you money and then trust me on that guys i remember working at walgreens sometimes i was in a position called breaker where i basically went around and gave everybody different you know breaks at their positions and whatnot right i knew if i was on a you know had a smoker i had

To be there right on time to give him their break or there was all a very high likelihood of them blowing up at a customer and sure enough that was always the situation and then after they had their smoke then they came in now soon they were happy and was like a whole new person was like holy smokes before you were like negative nancy and nelson you’re a positive

Person this was like time and time again with all the smokers especially the older ones guys so beware of that it will cost you money and then who’s gonna promote a person that oh if they haven’t had a smoke in a certain amount of time they’re addicted that bad that they might snap at a customer like i wouldn’t promote somebody like that i would not talk about

Alcohol alcohol is a depressant okay that’s a fact alcohol is a depressant so when you drink alcohol you got to understand you’re putting a depressant in your body which is going to make your body want that more and more in the future okay because your body’s gonna have a need for that so to get yourself up again you have more of that and it’s just a bad cycle and

Never mind and alcohols are extremely expensive thing again guys so alcohol and obviously how many bad decisions are made on alcohol guys how many bad decisions are made on alcohol you know whether it be somebody you know getting an std that’s good enough because they made a bad decision they slept with someone they shouldn’t have or you know there’s all serious

Stuff like you know drunk driving how many people drunk drive and then get their license takeaway and then lose their job because they got their license taken away or you know get in an accident or something like that guys there’s so many drastic amount of bad decisions you know assault somebody hit somebody so much guys so much i mean think about how many drone

Driving accidents people under the influence happen every year people’s lives are ruined because of alcohol you know and never mind the amount of people that get alcohol addiction which then is a whole different subject you know we’re talking about people and uh you know possibly doing suicide because alcohol it’s just i don’t if you don’t need it don’t mess with it

Guys don’t mess with it caffeinated coffee you gotta understand caffeine is addictive quality so if you have a cup of coffee every day you’re gonna need that cup of coffee every day and if you don’t have that cup of coffee every day then your whole body’s gonna feel like oh i need that cup of coffee i need that cup of coffee and you’ll go through like withdrawals

You might have headaches and all types of things and not just coffee we’re talking about energy drinks at lee no monster red bull a lot of those products you got understand what those are doing to your mind doing to your brain doing to your body because and then you’re spending money everyday on those things that you are gonna have to need you’ll end up needing

Them it won’t be like it where starts out in its a want oh you know i like a cup of coffee or i like an energy drink then also it’s like i need to have this if i don’t have my damn two red bulls today it’s on that’s how it ends up guys so don’t don’t don’t nest with smoking don’t mess with alcohol don’t mess with caffeinated products unless it’s something you you

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You are already addicted to or something like that and then hopefully and get off it and not that’s not this isn’t the video to talk about that kind of stuff guys number six don’t ever use it to put modifications on your car oh my gosh guys so many people use it to put modifications on the car like i’m talking like putting in a turbo or or put it in a new exhaust

System or something like that really bad idea a really bad idea you got to realize a lot of cars warranties will be voided as soon as you make a modification like that now a lot of people really like look into the the facts behind a lot of these warranties look into your warranty paperwork if you have a newer car you have a warranty on that car look at the paperwork

I can almost guarantee you it says somewhere in there that if you make a such-and-such modification that the warranty is void it then a warranty is voided so i see so many times people you know make it and make these modifications and say dude you just ruined your warranty on that car you go take that into the shop because they have a vc problem they’re going to

Say hey that’s not our problem anymore you put it you put this on it that that void your warranty right away horrible decision guys never mind that when you go to resell that car you’re gonna need to take those parts off and put the back to the original or you can try to sell it with those parts in the majority of people out there don’t want your freaking honda

Civic with the exhaust that sounds like you know you’re trying to make it sound like a ferrari and it’s gonna wake up the whole neighborhood no one wants that freaking crap maybe that’s cool to you maybe that’s cool to you to have the loudest exhaust in the whole place and you want to wake up your whole neighborhood right most people don’t give a crap about that

They’re gonna embarrass them and they’re like i don’t want that piece of crap sounding like that so people aren’t gonna want you’re a bunch of modifications or a car that’s lower to this this low before it’ll blow the ground most people don’t want that so realize you’re gonna be costing yourself a lot of money when you put those modifications on your car and it’s

Gonna cost you a lot of money down the road especially if you ended up voiding your warranty because you made a decision like that guy so beware of that absolutely number seven this one is so obvious to me it’s probably one of the most obvious ones out there using your money to buy lottery tickets i don’t care if we’re talking scratch or tickets i don’t care

If we’re talking things like the powerball things like that absolutely disaster waste of money oh my goodness guys they’re behind closed doors you know what they say they say lottery is a tax on the poor because the poor don’t really get taxed much so if you if you you have lottery out there they’re gonna buy the lottery tickets and then that’s their tax on them

Because they’re gonna lose weight way way more than they ever win we know that guess what the odds of you winning the powerball are close to one in 300 million do you know what the odds are for you to get hit by lightning one in a million so one in a million to get hit by lightning one is 300 million to get hit by arrow to hit the powerball guys so how many times

Could you you know possibly gonna get struck by lightning before you would even win the powerball think about that guys it’s mind blowing in my generation the average person in america and my generation has about a 1 in 85 chance of becoming a millionaire one in 85 chance and we’re talking about one three hundred million chance to win the powerball or something

You know like that guy’s mind-blowing to me and guess what in the poor areas the lottery is so much more popular than in the the richer areas i can tell you from my experience working a quick trip we saw a lottery tickets there in the urban areas lottery tickets sold like crazy i’m talking scratchers i’m talking to everything people coming in that work should not

Be buying these products super poor people some most of them all you get on government assistance of some kind coming in blowing their money on lottery tickets horrible idea the majorities i’m a loss they lost they lost and it’s just so sad guys and guess what when i would work in the nicer areas the lottery take is hardly sold at all no one would buy them no one

Would freaking buy them in the rich areas because guess what they realize it’s a big scam they realize it’s a big scam they don’t want to be taken advantage of it’s like their minds will go out and burn their money or something like that guy so don’t ever spend your money on lottery take the stupid idea never mind that you can potentially get hooked and become a

Addicted gambler and that’s a really bad thing so 7 things to never ever spend your money on guys i hope you absolutely enjoyed this today leave a thumbs up if you did hopefully i didn’t offend anybody if i did oh well you know you get butthurt you get butthurt and the day if you just came across this channel you may want to subscribe we talk personal finance on

The channel we talk entrepreneurship i’m an actual business owner i give away so many business tips we talk stock market investing more than anything thank you for watching guys and have a great day you

Transcribed from video
7 things to NEVER do with YOUR MONEY! (#7 is obvious) By Financial Education

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