What Can You Afford? Budgeting For Wealth | Minority Mindset - Jaspreet Singh

Get a 10-Day Free Trial of Market Insiders: https://theminoritymindset.com/Market-Insiders Investing 101 FREE ebook: http://theminoritymindset.com/get-richer-sleeping-ebook/ SUBSCRIBE for the latest videos *NEW VIDEOS EVERY WEEK* SC @M2JaspreetSingh http://www.TheMinorityMindset.com Instagram: http://www.Instagram.com/MinorityMindset Facebook: http://www.Facebook.com/MinorityMindset What Can You Afford? Budgeting For Wealth | Minority Mindset - Jaspreet Singh Check out some of our recommended sponsor products! Please note, the links below are from our sponsors. If you use any of the below products, we will get compensated but there's not additional cost to you. ---------- ➤ Fundrise 1) 🏠 Fundrise - Invest in real estate with as little as $500! See the historical returns here: http://bit.ly/InvestFundrise ---------- ➤ CIT Bank 2) 🏦 CIT Bank - Get a better interest rate on your savings account with no fees: http://bit.ly/CITsavings ---------- ➤ Webull 3) 📈 Webull - Buy & sell stocks, pay $0 in commissions, and get a free stock: http://bit.ly/m2WebullFreeStock ---------- ➤ Credit Cards 4) 💰 Credit cards are great if you know how to use them the right way. Here's a breakdown of our favorite cards: Best cash back credit cards: https://theminoritymindset.com/best-cash-back-credit-card-personal/ Best travel credit cards: https://theminoritymindset.com/travel-credit-card/ Best business credit cards: https://theminoritymindset.com/business-credit-card/ ---------- ➤Credible 5) 💸 Credible - save money on your student loans by refinancing with the lowest interest rates: http://bit.ly/m2StudentLoanRefi ---------- ➤ Policygenius 6) 🛡 Policygenius - make sure your family is protected with life insurance. Policygenius will find you the best deal: http://bit.ly/PolicyGenius If you want to buy luxury things, meaning things that you don’t need, Yo Jaspreet I need these new $200 shoes No remember my rule of 5. If you can’t buy 5 of them, you can’t afford one of them. If you want to buy a $100 pair of shoes and you don’t have $500 saved up, you can’t afford it. What’s the point of doing this? It forces you to live below your means. It forces you to save for something bigger, something to invest it, something that will make you more money. Make the sacrifice now so you can live bigger tomorrow. And listen, just because a sales person says you qualify for something more expensive doesn’t mean you can afford it. I briefly was a real estate sales agent for people who wanted to buy and sell their homes. We were paid based on the value of the home, the more the home costs the more we get paid. The same worked with banks, bank loan officers are often paid based on the value of the loan. Now although the bank officer and the real estate agent have to look out for your best interest, they aren’t doing anything illegal by approving you for the highest amount possible. So it’s in the bank officers best interest to get you the biggest loan as possible so they get the biggest paycheck. And it is in the real estate salesperson’s best interest to sell you the most expensive home so they get a big check. These people don’t have to deal with the consequences If you end up buying something that’s a little too expensive for you. You have to be the one in charge and know what your budget is. Don’t rely on sales people because their interest isn’t always the same as yours. And its not just houses and mortgages. Payment plans are becoming more popular for everyday items. Appliances, furniture, electronics, even our cell phones. I’ve said this before but it is nearly impossible to build wealth when you are constantly making payments to pay off things that you can’t afford. This year, Forbes reported that 63% of Americans, 63% don’t have enough funds saved up to cover a $500 emergency. Don’t be the majority. Put in the work and the sacrifice now so you can live better tomorrow. If your goal is to build wealth, you have to start living below your means. If you can’t buy 5 of them, you can’t afford one them. I know it’s hard, but you will set yourself up to stand out from the majority. #ThinkMinority #MIH #Budgeting http://www.TheMinorityMindset.com This Video: https://youtu.be/HRRrBrF7jRA Channel: https://www.youtube.com/c/MinorityMindset Based in Detroit. Jaspreet Singh DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you. DISCLAIMER CONT'D: I'm just a random guy on YouTube - 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.