I don't want to be rich, I want to be free

@leogibson.mp4

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21 by 21seen in 3 videos →

Why it worked

The video provides valuable, actionable financial advice in a concise and engaging format. The use of numbered lists, relatable personal anecdotes, and visually appealing outdoor scenery helps to keep the viewer engaged and makes the information more digestible.

Summary

The video presents nine money lessons that the creator wishes they had learned sooner. These lessons cover the importance of wanting wealth, earning more than saving, reframing financial limitations, the power of compound interest, investing in oneself, auditing spending, prioritizing value-based spending, diversifying finances, and continuously learning about money.

Structure

1Introduction: The desire for freedom and the necessity of wealth
2Lesson 1: Wanting to be rich is responsible
3Lesson 2: Earn more, don't just save
4Lesson 3: Reframe 'I can't afford it' to 'How can I afford it?'
5Lesson 4: The power of compound interest
6Lesson 5: Invest in yourself first

Original caption

21 by 21 Lesson 16: 9 money lessons I wish I knew sooner I learned early in life that money is important whether we like it or not It’s an integral part of life yet 99% people refuse to learn about it and instead spent their lives scared of it. I didn’t do that. I learned everything I could through books, YT vids, podcasts. But there was still so much more I wish I knew up this point. So here’s the 9 money lessons I wish I knew sooner…. But over my past 20 years on this planet l’ve collected and learned some very helpful wisdoms and lessons I didn’t take a conventional path in life so far and it’s allowed me to experience a lot of things most 20 year olds haven’t. So follow @leogibson.mp4 and stick around this month and (hopefully) you’ll learn a thing or 2 from my f*cked life so far 🕺 Enjoy :)

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Transcript

I don't want to be rich, I want to be free, but in order to be free, you have to be rich. Welcome to lesson 16 of 21 by 21. In my 20 years on this planet, I've learned that money is important whether we like it or not. So I made sure to start learning about it as much as I could, as early as I could. And I ended up making six figures at 20 years old and I started investing at 16. And yet, I still missed so much. So here are nine money lessons that I wish I knew sooner. Number one, wanting to be rich, isn't greedy, is responsible. Feeling guilty about wanting money is self sabotage, dressed up as best. Money gives you security and the ability to help those you love and those you need. Number two, stop trying to save your way to wealth. You can earn way more money than you can save on your expenses. Instead of refusing to buy that four-pound coffee, try starting a side to look at a promotion. Number three, replace I can't afford that to how can I afford that. One shot your brain down, the other forces it to find an answer and you'd be surprised how often it does. Number four, compound interest is the most powerful force in building wealth. You can turn a very small amount of money into an extremely large sum of money with compound interest. All you need is time and if you're seeing this right now you probably have a lot of it. Number five, invest in yourself before anything else. Your health, your sleep, your skills, your skills. You are the engine behind every other investment you'll ever make, so improve yourself first. Number six, odd it you're spending every single month. The rich stay rich by knowing exactly what their money is doing. Number seven spend extravagantly on what you genuinely value and cut ruthlessly on everything else. Your bank statement should read like a map of your actual priorities. Number eight, to diversify your money. Never let your financial future or stability depend on just one thing. One stock or on job, diversity and protect you. And number nine, treat money like a school subject you're studying. Books, YouTube videos, podcasts, conversations with people ahead of you. Knowledge compounds exactly like money does. The more you know, the better you'll be. Nobody teaches you any of this in 18 years of school. You're either figure it out through expensive mistakes over the next decade or you'll figure it out right now. That was lesson 16, my friend, and I'll see you tomorrow for lesson 17.