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5 Ways Millennials ACCIDENTALLY RUIN Their Finances

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  • ℹ️ Description






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5 Ways Millennials ACCIDENTALLY RUIN Their Finances
0:00 - Video starts
1:59 - Millennials aren’t investing
6:12 - Living in net zero
8:28 - You’re following the hype
11:23 - Falling in love with debt
15:04 - You let emotions run your finances


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Video host: Jaspreet Singh

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DISCLAIMER CONT'D: I'm just a random guy on YouTube so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

💬 Comments on the video
Author

I had an Indian wedding. My in-laws were so stubborn on having that. My now wife obliged. The biggest waste of money ever. At the end of the day no one cares.

Author — Ashish Kumar

Author

I’m turning up the volume so the baby in my tummy can hear this 😂 I will definitely be teaching good financial habits at an early age!

Author — Not Claire

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People talk about how weddings are expensive. Just wait till they see the divorce bill.

Author — Financial Shinanigan

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Also never never never never ever co-sign a loan for a family member or friend.

Author — Brad

Author

I got married at City Hall in NYC, then went back to work. Had a jeweler make a copy of a Tiffany ring and invited 25 close friends to my house for dinner party, I cooked all the food and bought the liquor from wholesaler. We postponed honeymoon, bought a house instead. Ended up getting a free trip to Hawaii as boss gifted me a trip anywhere in US! Now when I vacation, everything is paid for before we leave all we come back with is the food we eat there which is what the locals eat. I still have all these experiences everyone wants and catalog on IG but I pay mostly with miles from my credit card, carrying no balances. It is a mindset.

Author — HrhSophia TheFirst

Author

I hear a lot of younger folks talking about spending their money on “experiences.”
One of my coworkers is in debt for about 50k on her credit cards ON TOP of her 90k in student loans, complaining about how buying a home is unattainable, but hey, her Instagram has some cool photos of places she’s been to… 🤷🏽‍♂️🤦🏽‍♂️

Author — ChangoBango

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It would be great if they taught this in school. Too many kids go straight into debt after HS.

Author — Suikoden X

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"$200k mortgage" lol that was my down payment for a shoebox.

Author — Don Wald

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This isn’t a situation invented by the millennials. I was in my 20’s in the 80’s. I always spent more than my paycheck. My credit card debt was ridiculous and stupid, and I wasn’t alone. More was hip. It took a wake up call from my father telling me that if something tragic happened, the house was mine. And I was going to lose it because I couldn’t maintain the monthly costs of running a house. He made me take a class in finance at the local community college after work. I loved it. Maths is good.
Don’t beat up millennials.

Author — Minda Kahn

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As Jaspreet has said before, one should focus on growing their pie.

Author — Suraj

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The number one way people ruin themselves financially is by living above their means. People do not know how to delay gratification for a later time.

Author — Ike's Likes: Stocks and Personal Finance

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I admire the efforts you put in your videos mate, digital currencies continue to reshape the world globally, Crypto trading is very profitable and I've been making huge profits from it; I'm so Glad

Author — Donovan James

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Why is it that anytime I buy a stock or cryptocurrency that's supposed to be a big hit it ends up dropping and just never moving again??

Author — Gibbs Thomas

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People spend too much on stuff they don't really need. You do not need all the fancy tech, you do not need a fancy wedding, you do not need a fancy engagement ring, you don't need a new car, you don't need 5 monthly subscriptions for TV and so on. Just because a lot more stuff exists to spend your money on that didn't exist 40 years ago doesn't mean you have to have it. The net zero lifestyle is one of the biggest reasons why people ruin their finances from what I have seen from personal experience and that directly feeds into the whole not buying stuff just because you can.

Author — Matt

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Millennials are mindlessly "investing" in crypto!

Author — Suraj

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It's difficult convincing friends or family to invest in low cost index funds when get rich quick schemes have a chance of going to the moon.

Author — Ray Bucci

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We should be careful on money usage, if you are not spending to earn back, then stop spending.

Author — Tony Luke

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One thing most young folks don’t understand is it is important to grow into wealth. You grow into wealth like you grow into everything else in your life. A fool and his money is soon parted

Author — mlong1040

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I am glad I am finally getting it. Starting out with 15 percent along with around 300 in my M1. I have decided to buy a $4500 beater car lol.

Author — Terrence H.

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Love the guac sneaking in from the side.

Author — fairwaywoods