MILLIONAIRE EXPLAINS: 3 Money Mistakes Keeping You Poor

"If we are able to live frugally below our means for the first couple years of our lives and making some small changes some small SA sacrifices which is not a negative word okay I really believe it's going to change your life dramatically for sure"

"If we shift our mindset into this green line right here and say hey I'm going to make some changes right now I'm going to start a budgeting sheet I'm going to be more conscious with my spending I'm going to put away 10 20% of my paycheck into my savings account... as time increases and we start to plant our acorns now you're going to see that these acorns are going to start sprouting and we're going to we're going to have these big oak trees later on and every oak tree is going to pay us a little bit of money so which means that we don't have to work so hard by the time we're 65 years old because we have all of these Investments paying for us"

"if you put it into something like a high yield savings account you can get 400 to 500 times more free money 400 to 500 times more I am not exaggerating with this number so instead of getting $1 you could be getting $500 for the entire year"

"as they get older in life because they don't pay off their debt right because it's normalized that debt is okay what happens is that their net worth becomes negative over time because it can actually compound downwards too"

"you can see that their wealth doesn't really grow as much it's kind of like in a flat line right here and by the time they get to around 60 years old when they retire then that money starts to dwindle down right and it goes back down to zero"

"you can see that their net worth grows in some sort of jcurve right here right it grows exponentially upwards way way more and it's not that they're working harder overall right in life it's because they have a lot of Investments that are working for them"