The 7 EASY STEPS To Spend LESS MONEY Today! | Minority Mindset

Sharing buttons:


what's up everybody I am just releasing

a welcome to the minority mindset I've

made a lot of videos on starting a

business and how to grow your money I

remember there are three keys to having

money you have to make money you have to

get your money to work for you and and

you have to keep your money if your

spending habits are bad it does not

matter how much money you make you will

not be able to keep your money people

with multi multi-million dollar for kids

like MC Hammer and Mike Tyson have lost

it all because they were not able to

keep their money I'm going to go over

six ways for you to spend less money so

you can keep more of it number one

before you go shopping write down the

things you need and then only buy the

things that are on your list doors are

designed to get you to spend as much

money as possible which is why I'm split

on the topic because on one hand I want

you to make as much money as you can per

customer and on the other hand well I

want you to keep as much money as you

can which leaves me in the middle we

didn't go shopping without a list it's

really easy to get distracted when you

see that big red sale sign and you have

nothing telling you not to buy it oh

here's the thing and listen to me very

very carefully if something normally

costs $250 and you buy it on sale for

$100 you did not save $150 you spent

$100 it starts with your mindset

number two don't spend money on drinking

and smoking I can already tell you that

this one's going to hurt some people's

feelings but it's a lot of money that's

not being put to good use

the average American smoker spends

fifteen hundred dollars a year on

cigarettes in the suburbs but if you're

a smoker in the city you'll be spending

a lot more if you're a heavy smoker in

New York you can be spending seven

thousand dollars a year on smoking and

the average American spends one dollar

out of every 100 that they make on

liquor neither of these two things are

necessities and you can keep a lot more

money if you never spend money on them

three if you struggle with controlling

your spending habits don't carry a

credit card paid with cash when we use a

little piece of plastic to buy things we

don't feel the same pain as if we take

this cold hard cash

we worked so hard for and then just give

it away McDonald found that would

somebody pays for their order with cash

their average order size is four dollars

and fifty cents but when somebody pays

with a credit card the average order

size goes up to seven dollars and dun

and bradstreet did a famous study where

they found that we people spent twelve

to eighteen percent more when we use a

credit card than if you use cash because

we don't feel the same pain of spending

money number four if you can buy generic

a lot of times the biggest difference

between generic and brand name products

is the price sometimes a generic and the

brand-name products are made in the

exact same Factory and the only

difference between them is a label that

you slap on buying generic products

isn't going to make you rich but when

you're putting every dollar you have in

your business dollars matter eyes keep a

running calculator on all of your

expenses I know what you're probably

thinking who has time to keep track of

every single thing they spent well it's

actually really important when you're

trying to get more sales for your

business analytics are super important

because it's hard to improve something

if you can't measure the exact same

applies for your finances if you don't

know where your money is going how can

you improve your cash outflow I need you

to know where every single dollar you

make goes you need to know how much

money you're spending on entertainment

help with your spending on gas how much

money or food how much you're spending

on eating out how much studying shopping

you have to know all of these things

once you figure out where your money is

going then you can see how you need to

reallocate your budget but you can't do

that unless you keep a running record of

this fixed size for my language but pay

your on time you know most of my

videos are inspired from things that I

see in my life and well I have some

friends who aren't that good at paying

their bills on time they have the money

to pay their bills they just forget to

pay it so then they get a late notice

which causes the $25 fee just because

they're a couple of days late that's

pretty funny right you think that's


look at my face does it look like a

laughing no it's not funny I hate

wasting money and late fees are a

complete waste of money when you're

paying late fees you're essentially

taking your money

and throwing it down the drain paying

your stupid bills on time so you don't

have to pay unnecessary fees gee and

number seven this one's a little bit

different than the rest I'd say is

something that most people from

immigrant families have gone through

don't spend more than you need to for

things that are not related to your

business let me give you an example

somebody hit our family car once in a

yogurt and the whole side mirror pieces

actually fell off we took it to a shop

to get it fixed and the shop owner

wanted $400 now it's not like $400 is a

crazy amount of money it's a lot of

money fighters not insane but you have

to remember my family comes from Punjab

India which isn't a very rich place so

we're accustomed to create solutions so

what did we do

my dad duck take the piece back on the

car and then he found a small mirror at

a shop for like six bucks and then glued

it on top of the shattered glass I got

the whole thing fixed for like ten bucks

look you got to do what you got to do

especially when you kind of start a

business or you're trying to improve

your financial future it's not the most

glamorous but sometimes you got to put

in a sacrifice and make every single

dollar count for a better tomorrow

what's up everybody if you enjoyed the

video hit that thumbs up button and what

are you doing to keep your money let me

know in the comments below don't miss I

do videos and entrepreneurship business

money every single week so here's the

subscribe button or into the button

right here it wouldn't be on your phone

follow me on snapchat and follow us on

Instagram over here and check out some

of our latest videos for clicking these

buttons below and as always keep