15 Signs That You’re Smart With Money

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Financial IQ will save your life. SUBSCRIBE to ALUX: https://www.youtube.com/channel/UCNjPtOCvMrKY5eLwr_-7eUg?sub_confirmation=1 15 Small Financial Improvements to Start With: https://youtu.be/rae4NRMYT-o Video Notes: 15 Signs You’re Smart with Money • Premium Experiences by Alux.com: https://courses.alux.com Get a free audiobook from AUDIBLE at https://www.alux.com/freebook Thanks to our friends at AUDIBLE! Disclaimer: signing up for AUDIBLE will result in financial compensation towards Alux Inc at no additional cost to you, the consumer. Check out our merchandise at: alux.com/merch Last Sunday's podcast episode: https://open.spotify.com/episode/6b8IhkpHzXS65YZ6L49kZI?si=a4f6ccd2707b49ad In this Alux.com video we will be answering the following questions: What is it called when you are smart with your money? How can I be intelligent with money? What's the smartest thing to do with money? Are people with money smarter? Who has no money is called? What do you call a person who doesn't spend money? Why you should be smart with your money? Why is it important to be smart with your money? How can I be good with money? How can I make money smarter in my 30s? How can a teenager make money smart? Can I retire at 55 with 300k? What banks do rich people use? Is 1000 dollars a lot of money? Are billionaires lucky? Can you be rich without being smart? Do you need luck to be rich? Which is no longer in use? What is a broke? What do you call someone who is not rich but not poor? Is cheapskate a bad word? Is stingy an insult? Is being a miser a sin? How do you become rich? Are rich people happier? Is income related to intelligence? Is there a correlation between IQ and wealth? Is miser a bad word? What is a person who betrays his country called? 00:00 - Intro 00:33 - You know what you know…and what you don’t 01:10 - If it ain’t broke, you don’t replace it 01:51 - You have a budget 02:28 - You have the end in mind 02:58 - You buy luxury with money you have 03:44 - You leverage credit wisely 04:07 - You don’t pay unnecessary bank fees 04:44 - You shop for necessities with a plan 05:39 - You have insurance 06:12 - You have an emergency saving fund 06:55 - You protect your salary 07:30 - You know your credit score and are keeping it in check 08:05 - You don’t double dip with debits 08:40 - You don’t pay more taxes than you need to 09:17 - Shop around to get a good deal 09:42 - Question - Get Rich Playlist: https://www.youtube.com/playlist?list=PLP35LyTOQVIsxb5Mf-Pr1xHJMZPtdIX8q Take Action Playlist: https://www.youtube.com/playlist?list=PLP35LyTOQVIuhLj_V6ThqHhVN52kozybm All Sunday Motivational Videos: https://www.youtube.com/playlist?list=PLP35LyTOQVItYEFKYW1WdjcHFuXt0s5h- Book Club: https://www.youtube.com/playlist?list=PLP35LyTOQVIvGYVKBE8qEwmP-S_Z7i0lL - Social Media: https://www.instagram.com/alux/ https://www.facebook.com/alux https://www.twitter.com/aluxcom --- Alux.com is the largest community of luxury & fine living enthusiasts in the world. We are the #1 online resource for ranking the most expensive things in the world and frequently referenced in publications such as Forbes, USAToday, Wikipedia and many more, as the GO-TO destination for luxury content! Our website: https://www.alux.com is the largest social network for people who are passionate about LUXURY! Join today! SUBSCRIBE so you never miss another video: https://goo.gl/KPRQT8 -- To see how rich is your favorite celebrity go to: https://www.alux.com/networth/ -- For businesses inquiries we're available at: https://www.alux.com/contact/

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Video Transcript:

Whether you work hard or work smart for your money once you have it there are clear signs whether you're smart with it or not one thing harder to do than make money is to hold on to it we're going to take a look into 15 signs that you're smart with money but before we get going don't forget to like and subscribe to alux for even more content made with future billionaires in Mind this probably is exactly why you're here and that ties me perfectly to our first point number one you know what you know and what you don't people who are smart with money don't pretend to know everything and seek advice from experts that means finding a trustworthy financial advisor on top of that there's so much great stuff out there that you can read and Watch to get great financial knowledge on topics that confuse you alux is one of those sources of great advice which is proof that you're already smart with money so support us and our channel and like and subscribe so we can continue producing high quality content for you number two if it ain't broke you don't replace it people who are smart with money only Spend it when they need to they don't replace a tv if their current one is still doing the job the same for cars sports gear or tech and while it's always nice to splurge and spoil yourself with something new people who are smart with money show that they aren't on a never-ending quest to always have the latest and greatest and except that there will always be upgrades and improved versions of Things this is also a common trait of old money too see what else links you to the blue bloods in our video on the topic 15 things that scream old money number three you have a budget if you ask around most adults have a rough budget but when it comes to how much they actually stick to it numbers seem to drop it's a one thing to have a budget but people smart with money stick to it this way They're reminded what their end goals are which helps them keep on track when the temptation to spend arises in an insider article tamara durbin a chicago-based personal finance coach and certified financial educator said that it's important to know exactly how much money you make and where it all goes each month and we tend to agree number four you have the end in mind While a quick spend or a car upgrade is tempting people who are smart with money have a great end goal in mind perhaps it's to be able to retire by a certain age or become financially independent from your employer whatever it is if you're always looking to your big goals instead of giving in to the impulse purchases then you're showing signs of having money smarts but is there a golden rule To end all of your money woes yup there is keep listening because it's coming up number five you buy luxury with money you have they say rather the devil you know than the devil you don't well the same can be said for money rather spend the money you have than the money you don't those who are smart with money make sure they aren't enjoying a luxury Lifestyle on credit that they don't possess not only is it really expensive it's also a dangerous game to play before you know it you'll be enjoying the view from the sidewalk while sitting on that couch you bought on credit that you couldn't afford the highest interest is paid on short-term loans like retail credit deals and credit cards smart money knows this and to avoid it But not all credit is bad which brings us to number six you leverage credit wisely smart money knows there's plenty of opportunity to grow your wealth through credit but this is in very particular circumstances where the item you're buying on credit continues to gain value that exceeds the interest you're paying on it this is usually the case when it comes to buying property Or businesses number seven you don't pay unnecessary bank fees bank fees are nearly impossible to avoid altogether but there are plenty that you should never have to pay with a little smarts you won't have to pay exorbitant bounced payment fees late fees or short-term interest understand the banking products you have make use of the free transactions like online payments or setting up debit Orders instead of doing an eft check to see the bank perks that you get are worth it some of the time you're being charged a monthly fee that far exceeds the benefits you're receiving number eight you shop for necessities with a plan you know we love a list lists mean you have a plan and failing to have a plan means planning to fail when you shop for a home or business It's always wise to shop with a list that has your budget in mind it's easy to get caught up in the frenzied spending in shops or online stores they are literally designed to cause this having a list means you won't be waylaid or end up with armfuls of non-essentials and nothing that you actually need and hey luxers the younger you start learning about Money the better which is why we suggest you listen to smart money smart kids raising the next generation to win with money by dave ramsey and rachel cruz it's available on audible and we've got a free download for you at alux.com free book it's received over 4 thousand five star ratings number nine you have insurance accidents happen but people who are smart with money don't get bothered by this Their monthly contribution to short-term insurance ensures they have peace of mind that their property both personal and business is insured against loss or damage that way in unforeseen circumstances of loss they're covered it's one way of predicting future financial longevity instead of having to constantly maintain a huge Backup bank balance just to keep you safe number 10 you have an emergency saving fund people who are smart with money have nerves of steel because they're able to maintain an emergency savings fund this is a feat of strength like no other on the planet having money available and not spending it and continuing to add to it is a real life superpower if you're finding it hard to start then Take a tip from us automate your savings even if it's a small amount at first set up a monthly or weekly transfer into a savings account so that you don't have to have the personal strength it takes to make the payment yourself once you see that savings balance grow the payoff becomes clearer and you'll find it a lot easier to increase that amount number 11 you protect your salary Smart people don't rely on their employer for security they take their financial security into their own hands this is done with a salary protection policy whether it's an add-on benefit to your banking or through a financial insurance broker adding a salary protection policy is essential to upping your financial iq anything could happen kovit 19 is a great reminder of this So ensure you protect your monthly income while you give yourself some time to find some new income number 12. you know your credit score and are keeping it in check people who are good with money know that a credit score is key to building wealth if you're leveling up your wealth through business or property you will require loans your credit score is standing Between you and getting finance to access great opportunities so be sure you always know where your credit report stands and how you can keep it looking good ensuring payments don't bounce service your credit card and overdraft regularly and keep away from subscriptions that you can't afford will all mean keeping a positive rating Number 13. you don't double dip with debits a quick way to lower your credit score is to let payments bounce people who are smart with money know what payments come off and when and ensure there's always money in the account for them but this can get confusing and out of hand fast if you have too many don't sign up for subscriptions or debit orders just because your credit allows It do you really need the product your bank or internet provider is trying to add on to your monthly premium probably not so don't let their limited time off or sales pitch throw you off your end goal number 14 don't pay more taxes than you need to people who are smart with money are smart with taxes they know that it's not necessary to Know all the ins and outs of tax codes but rather keep good records and employ the help of a qualified tax practitioner they will manage your money to maximize tax benefits and savings people who are smart with money ensure they have a tax practitioner who's up to date with the latest laws and that are paying just the right amount of tax not too much but not too little either to avoid any nasty surprises Number 15 shop around to get a good deal no matter how much money you have there's no shame in shopping around to ensure you're paying the right price no matter what you're getting from a home loan to a new geyser don't feel intimidated into taking the first quote you get people who are smart with money will shop around for the best deal because geysers and home loans will be with you for a long time So alexers you hung around with us until the end here's your bonus what's the golden goose of people who are smart with money well it's really simple get paid what you're worth and spend less than you earn there it is that's the best financial advice you could ever hear it's layers on layers and on that note we say goodbye until tomorrow we would appreciate it immensely if you Subscribed and clicked on the bell notification if you felt like this video added value to your life as you do two hours

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