Dinsev

Escaping the rat race isn't about quitting a 9-5 job. It's about avoiding the "Money Trap. A race to the next paycheck or material possession In this video we take a look at what the rat race truly is ways in which personal finance can help as well as understanding the relationship between consumption and production. A relationship that can help you save money, but also scale your income. The Rat Race seems to be conflated with working a 9-5 job. It's often used to guilt those who have a disliking towards their jobs into purchasing a course, program, or something of that nature. A real rat race isn't about working a 9-5 job, it's about living on a financial edge. Such that your greater life goals and ambitions are placed in the background as you continue chasing the next paycheck or material possession. Our relationship seems with money is often as follows: it enters our life, and it leaves. Sometimes this is expressed as your income and expenses, but I think a better way of framing this is your production vs your consumption. For most of us, we have an issue with consumption. And when fixing this, it may be best to first draw an awareness to yourself as a consumer. Using a budget and tracking your expense is the best way of starting. A common strategy in personal finance is building an emergency fund, a fund that holds 36 months worth of expenses enough so that if an emergency were to ever occur you wouldn't have a problem financially supporting yourself through such an occasion Production is then about increasing the amount of value you can bring to a society. In my video the Untold Truth About Money I mentioned that people are paid in proportion to their perceived value in the marketplace, and one of the best ways of increasing your perceived value is by solving a problem in the market, then selling this solution through a business at scale. This is the entrepreneurial route. And whilst most of us will be able to produce value into the market by selling our labour in the form of a 9-5 job, this doesn't mean our ability to produce stops there.YouTube channels like Graham Stephan or Dave Ramsey are great for learning about personal finance, and reducing your expenses. But these people don't rely on cutting coupons/ living frugally to be making millions. They are utilising a means of production at mass scale. Graham Stephan uses YouTube as a vehicle to produce finance videos at mass scale Attempt to identify ways in which you can produce value to the market. For example, I utilised my skills in acting. storytelling video editing, and presenting to create videos like the one on my channel. I saw YouTube as a vehicle to be able to produce value to the market at scale All materials in these videos are used for educational purposes and fall within the guidelines of fair use. No copyright infringement is intended. If you are or represent the copyright owner of materials used in this video and have a problem with the use of said material please contact me via my email in the about page on my channel. AFFILIATE DISCLOSURE: there may be a few links in this description that, at no cost to you, will earn me a commission if you choose to click them and make a purchase Don't worry I only ever promote things that have genuinely helped me.