With the world in crisis, I am worried that many Americans will succumb to some of these financial mistakes. During recessions, we tend to see a number of new money traps that can cost people thousands of dollars, further worsening their financial situation.
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Can we hit 5,000 likes on this video???
No😐
Done
No
Hahahahaha. Of course we can! Great video as always! (One of my moneytree plants is named after you!)
I like your analysis, i can i get your email?
In love with your videos. I am hitting likes before even watching them 😂
Did you know that most of the ads on this video fall under the umbrella of what you’re talking about?
💯 agree if you make upwards of $90k and you’re upset you now have no money… where was all of yours going!?
you dont fix the roof when its raining
YUP Anik Singal just offered a $1,000 course a few days ago to make money through email! The “email edge”
My coworkers were freaking out when the market dropped. I told them “this is NOT the time to sell…” one of the “smarter” guys was like “yeah well what if the stocks hit 0? Hmm? You’ll get nothing!” 😂😂😂 like wtf dude they don’t think clearly
Can’t blame them though… That’s just the way they’re wires, if they haven’t learned a little about how things actually work.
M mom
I knew all this and its great to find someone like you that doesnt lie , and been super honest , you will do well in life 🙂
What a twat
This is totally not related, but I got excited watching Nate drink out of a glass jar which I’m doing too. Reusing glass jars is my favourite thing.
Solid content, You have a new subscriber.
As you talk about scam courses, i get an ad on your video about a scam course 😂🤦♀️ (i know you dont control ads, but its crazy how predatory these advertising campaigns are!)
I always get the ‘shenzen secret’ or something before your vids
Why ain’t it illegal for these gurus to promise results that aren’t even close to what the typical buyer makes from the course they’re selling?
Yeah Nate those 64 unlikes those are the people you’re talking about…probably Grant Cardone is one of them😡
What happened to the 2020 side hustle video?
Graphics looking good Nate lol
very humble like button ask. Liked it. Thank you for not saying “smash” the like button
i must agree this time is a time where you must take a good look at yourself and see how you can improve and prepare.
Dur hur hurrr ALL IN INVESTING MY EMERGENCY FUND
The 72 thumbs down 👎 are the people that made 100k a year and now cant pay their bills.
You’re incredible brother! Keep it up 👍
I honestly hate the ads that show around your videos because as you explain those are the types of guys who are way too young and talk way too fast and show their so-called 10 million villa (while sitting in front of a green screen I am sure) to be reliable.
You however I do trust Nate, and I thank you for sharing all that you know.
Men who are company owners, don’t forget to be very careful how you choose female employees. The chances of a false sexual assault against you are very high in desperate times like these. The risk might be too high to hire a liability. Protect your wallets, the heritage of your children and the legacy of your work.
Haha I did exactly that. Acted on emotions and sold after a -20% drop and haven´t entered the equity market yet. Luckely for me I kept gold and LTB´s so didn´t lose anything. Now I´m thinking of the next move. Doesn´t feel good to go all in now again but I can admit I have the FOMO feelings after the huge bull-moves in the market the last couple of weeks.
I agree that one should take responsibility, however one should not be too hard on himself, people make mistakes, no one is perfect and some of our actions are actually predetermined anyway
“I don’t care about politics…” Staying out of politics is a privilege.
american politics is a business. if you don’t have any stake in it, why care? of course one should know the headlines to at least make conversation when appropriate.
@Gilbert Saldana Tell me where politics is not a business. We should care because it affects people directly. Paying attention to politics means being informed so that you can vote for the candidates who don’t want to destroy the world, who want to protect the rights of people who are oppressed, who help make the country a more equitable and peaceful place to leave, and so on.
Geniunely shocked how many loan and credit card companies are suddenly desperate for my business!
Dang!! You are so right guy. All makes cense.
You speak well. You sound smart, too. You need a better couch. Stay positive and invest well. GL
Sorry to learn that you don’t care about politics. Politics is the philosophy of the financial game we play. Politicians make the rules by which we must play.
It’s so refreshing to see young people talking financial intelligence. I’m a fan already!
Are you single? You’re very smart and attractive
5501 me? Your new sub. You are awesome, love your videos!
Jesus. You’re too young. You read this shit somewhere so cut the horseshit. Stop talking like you’re old. Glad ya know these things, but I guarantee you read a list and didn’t make these make these mistakes yourself LOLZ.
Great video and very valid point how we can all take more personal responsibility for our decisions.
that dave ramsey clip cracked me up
Be antifragile
P
1. Buy course 2. Fall for credit card trap if you dont have good spending habits 3. Buy top, sell bottom 4. Expect gov to bail you out via stimulus check as first resort 5. Paying only some of credit card bill instead of it in full
<3 Nate!
Efff Dave Ramsey
Why is it that now is the time debt collectors want to crack down
“IT’S YOUR FAULT!!!!” -Dave Ramsey 3:22
“That’s your fault.” -Nate O’Brien 7:14
Lmao yeah the i8 that he rented for a day. Good call on that.
Other YouTubers: “DESTROY THAT LIKE BUTTON”
Nate: “click that like button if…if,,, if… you want 😔👉👈”
My stimulus goes to only 1 person : ME 😆
Good tips Nate cool guy!
Most online courses are a waste of money. I hope new internet laws will be introduced soon.
8:23 reminds me of someone I watched on the news. Hmm…
1:03 lol
I always enjoy the love/hate relationship Youtubers who talk about personal finance have with Dave Ramsay.
It’s the best kind😅
I have a lot of respect for uncle Dave
Hey now… Dave Ramsey is my homeboy. He’s the best kinda cray. ☺️
Advice from a 17 year-old
I just got my drivers license
The beginning of this video is so admirable, and it’s easy to fall into those traps. I really respect what you do, Nate. Even if you are just a random person on the internet.
Thanks Shane
Love your honesty! Great video as always
3:22 I nearly shat myself XD!!!!!
I love this video, agree 100%! For the past two years I finally started attacking my student debt by sending most of what’s left of my paycheck after bills. The stimulus money just helped me send an extra payment this month. June will be my last payment! I’m free! I opened an online savings account, where my money will go to now 🙂
Nate, thanks for the great advice here. Your videos inspire me to continue my channel. Thank you!
Just lile the 2 commercial’s on your video. Lol
I would really want to learn more
Thank you as always 😉✨🇺🇸
I could not agree more about stocks. I don’t understand panic selling. Companies that are solid and will still be around in a few years WILL recover. I held on to all my stocks in 2008 when the market crashed and suffered “paper losses” but did not actually sell anything. 5 years later I sold everything at a BIG profit. And I’m buying a lot of stocks right now at a discount hoping to see returns in 2- 4 years just by waiting this out.
How ironic that one of the get rich quick ads that you are warning about just popped up in your video. LOL!!
Nate O’Brien President 2024
I T ‘ S Y O U R F A U L T ! ! !
Cut high maintenance assets
Thank You ♥️
Where are legit extra income programs
I got in one I have been progressing massively
@Louis-freddie Ceaser which 1 if u don’t mind lol
I started trading investing with a company platform receiving pays but now because of the corona virus I have turned to it fully, it paying off well
@Don Day i got to them through a financial advisor I will give you the cntact (+15163603378 what app ) you will be guided further
Watching your vid, next minute add break telling me to join their free webinar to explode my business 🤦♀️
Thank you 👏🏼
Started watching your video last summer, got picked on for it , Saved a ton , now out of work because of covid. im the only one in my barbershop that didn’t need a stimulus check. Thanks Nate ❤️
You see I genuinely did believe the online course scheme dude
Digitalnomad, maxssales, other ads during this lol
LOL I got one of those get rich quick youtube ads while watching this
First minute in and I subscribed.
Have some faith on your investments, the failure is already known most of times, therefore fight for the victory.
That Dave Ramsey part was perfect 😂
Post Pandemic Money traps to avoid :
1. Get rich quick schemes – i.e. buying (bad) expensive online courses
2. Predatory Loans – i.e. payday loans
3. Letting market fluctuations affect you emotionally in the future- i.e. selling at the market bottom out of fear, buying high.
4. Banking on the government for another stimulus check – use this as a last resort if possible. Have an Emergency Fund, take responsibility.
5. Paying minimums on credit cards – (if you can, pay more)
6. Avoid 0% APR deals. – usually are temporary, read the fine print . (But actually might be a good time for some good deals )
Sounds terrible, I’ve been on youtube red for years so I have no idea what ads are like these days.
Just use an ad blocker and put that $12 or whatever p/m into an asset-generating dividend-based security token like NEX (nash exchange). That $12 monthly sub money could be worth $1,800 in a few years…
Edit: Just noticed you said “years”. 2yrs x $12 = could be worth $43,200.
Be stingy, every little bit matters more early on.
Love ur enthusiasm as always. U care going places ☺
With all this “free” time, I’m working on becoming a copywriter. I’m creating a product for people who need help writing. I’m creating youtube videos on content I think people would enjoy learning about. I’m minimizing my expenses. I’m buying stocks at the low and buying put options for stocks that are likely to go down. Working on the upside too. Open a high yield savings account. Be careful, I tried dealing with Comenity Bank and they are not being cooperative and have bad customer service.
Also, if you’re looking to buy a vehicle, always buy used in good condition. Hertz is likely to sell a lot of cars at low prices due to them likely going bankrupt, so wait for that to hit and buy something from them.
Is that a sactional couch?
I have a question about the emergency fund with the 6 to 8 month expense thing. We are fairly staunch Dave Ramsey followers though like you that can be a tool if you’re not stupid with it, but is generally bad. I know what Dave Ramsey would say if I asked him this but I’m not convinced it’s the right answer for my family. We are working towards paying off all of our past financial mistakes with some medical bills and a credit card that we defaulted on and some other small things and our car maybe around $10,000 at the most with most of that being the car. The only other thing we have is our student loans and according to the Dave Ramsey plana small emergency fund of $1,000 is all we need until we pay off our student loans But the problem is our student loans are the size of a house at $130,000. In that situation I keep feeling like having that 6 months of emergency fund built up before we attack the student loans is essential because if we don’t and it takes 5 or 6 years to pay off those student loans or more, we are setting ourselves up for a really scary place in my opinion. We could even easily be setting ourselves up for having absolutely zero retirement by the time we’re 40 (we are early to mid 30’s now) And well yes of course I want to get the student loans paid off I find the prospect of completely ignoring any other financial goal until they’re paid off risky. So who is right? Dave Ramsey or my gut?
There is an app called Fetch rewards, all you have to do is scan receipts and get points overtime, those points add up and you get free gift cards!!! When you use my code as referral, you and I get 2000 point each to start out with, but you don’t get start point without referral. My code is 22N6U if anyone wants it! I hope it helped.
I left my $55k job literally saved nothing because I was living paycheck to paycheck living ABOVE my means. I quit to go to a $37k job and guess what? I’ve literally been able to save 80% of my income each month. No amount of money will help you fix your poor relationship with money 🤷🏽♀️
Im opening up a savings account with high interest just so I can stay on the safe side. And making sure it’s FDIC
“that’s your own fault” ……he’s a real one for that lol !
1st time I see you and I gotta say you are right on it! It’s really impressive how young you are and such amazing knowledge! Thank you so much! And I’m glad I’m on the right path!
Check out “nashsocial” on twitter, that company has a security token which could end up being highly lucrative in the next year or two
There is no post pandemic
how about putting time stamps or giving a general overview in the beginning??
1. Get rich quick schemes/bad online courses 0:10 to 2:36
2. Predatory loans 2:37 to 2:49
3. Selling stocks low and buying high with emotional investing 2:50 to 6:22
4. Don’t bank on getting another stimulus and recognize your shortfalls 6:23 to 8:58
5. DO pay more than the minimum payment on your credit card debt 8:59 to 9:52
6. Avoid zero percent interest (APR) deals and read fine print 9:53 to 10:58
If you make 100,000 per year, you are way closer, mathematically, to someone who makes 1000 a year, than someone who makes a million. Get real, people. We are ALL poor.
If I bought stocks and did investments the way I eat food. Bruh id be a billionaire eventually hahaha.. I eat to much
Congrats for your channel Nate ;-). I like the way you communicate. You are very confident in front of the camera
This pandemic has really allowed me to look into my own financial practices, as well as highlighted financial practices by my immediate family as well. I earn for myself through a business/consultancy/freelance mix and as a result I’ve always been trying to be forward-thinking when it comes to finances.
Recently my mom and I had disagreements regarding money because she earns relatively well for herself, but always can’t seem to run out of debt or she can’t track where her money goes. I also have an aunt who is debt-averse, to the point that when she really needs things having debt is always out of the question (it’s good to be cautious with debt, but not when not having something would put you into more debt in other parts of your life).
I don’t claim to be the best at this (and I am guilty of some feel-good purchases in the past months because of this pandemic), but talking about money is such a testy topic. BUT if anything, this is the BEST time to be talking about it and being honest with ourselves—this may be one of the downest and worst we’d get (financially, at the very least), and when you’re doing fine financially you’d not be thinking about ‘managing’ your money!
What’s this chap’s background!?. Anyone can post anything on YouTube these days.
This is like the realest advice i’ve ever heard. If I can make close to minimum wage and still have a savings then why can’t someone who makes $100,000+ a year have a savings. Yes there are certain situations that have exception but I feel the same way about big companies. Why don’t they have their own savings? Why are they going bankrupt after a month of the pandemic? Seems like poor planning on their part.
just bought a used veloster turbo 🔥 dirt cheap
I had a 2015 one from new. Very reliable except for the very cheap paint and the horrific infotainment system.
I don’t know why, but I liked the video before watching.