THE POVERTY MINDSET & HOW TO AVOID IT

good morning YouTube I am prepper princess the author of living on almost nothing if you are interested in purchasing my book I will go ahead and leave a link down in the description box below uh this is going to be a difficult video to film I am on the banks of a river so as you're getting this video it's going to be winter time I'm filming in summer it's 100 degrees out but the reason I'm doing it is because a lot of people suffer from sad seasonal associative disorder and they get really depressed in the winter so I'm doing a couple of videos in the summertime to put in the winter time on the channel so people can remember look sunlight does exist look it is beautiful outside so I'm at my grocery store and gym getting my 12 000 steps and getting my groceries of blackberries plums wild blueberries and something else that I can't remember but anyway my backpack's full but I can't show you because I'm literally holding you up and I have one hand and I'm balancing on rocks right by the river so let's maybe I will accidentally fall in we'll see anyway okay so I wanted to talk to you guys about a poverty mindset and I think that there is some confusion as to what it is so um as you all know I have lived below the poverty line my entire adult life I just barely went over because the increase of my medical care costs went from 200 to over 500 overnight when I moved to California but um that's neither here nor there I I don't spend any money I just don't um I prefer this over a movie theater and dining out any day of the week um but there there is this poverty mindset now what people think a poverty mindset is is being scared of spending any money so you're always constantly living in poverty because you're scared that you're going to lose money and you just have to grasp onto it and hold on to it and keep it forever because you're scared you're going to lose it now that's not correct that's not what a poverty mindset is a poverty mindset is somebody who lives in poverty and does it has given up and will not even try to dig themselves out they are going to live in the they are dead set on living on in poverty the rest of their lives they're not even going to bother trying to increase their income or get out of poverty they're just going to live that way forever that's the way it is and I'm not even going to try that's what the poverty mindset is now now let me explain a little bit about myself because people are very confused they assume that I am tight-fisted and miserly and I'm scared to spend my money now I do have bag lady syndrome which you can look up on it it was kind of a joke like I don't really have bad lady syndrome I everybody's afraid of running out of money even my financial advisor told me everyone's biggest fear is running out of money when you're old so everybody's afraid of it but I am not like a tight fisted Miser who refuses to spend money because I have to keep it because I have a poverty mindset that's not what it is I simply live the lifestyle I want and the lifestyle that I want doesn't cost any money everything I enjoy doing does not cost anybody I'm a minimalist well I'm not really I don't think I'm a minimalist like like going out of my way to be like people who get rid of things that they can still use but I I don't have a lot of things because I don't like clutter I don't like eating out at restaurants because they make me sick like it takes me three days to recover I can't stand alcohol so I don't go out drinking into the bars um you know I just every I don't I buy new clothes but maybe 50 bucks a year if that you know my shoes last forever even though I walk on them for you know I don't get rid of them when they when the soul wears down and I don't have traction I'll just use them without traction um I like hiking and when I'm hiking I'm collecting fruits and vegetables for the rest of the you know for winter time I love reading I love watching TV but all of my TV is free with streaming apps and I have solar panels so and they came with my house my house I a house in California average 750 000 I paid less than 200 000 for my house and the solar was included what am I gonna do and yes it needs repairs of course oh my God I gotta adjust here for a second hold on my foot I was balancing on one foot the whole time I was talking to you on a rock pretty butterfly there's a beautiful right now there is a butterfly boom boom there's blue blackberries right here um I filled up my backpack with blackberries and plums and and blueberries and grapes are not ripe yet but I'm going to be doing that and I prefer I prefer natural food over buying blackberries in the grocery store because they taste better does anybody ever notice that that they just taste better and today or this week watermelon was on sale for 1.98 per watermelon so I picked up a watermelon and now I've got batches and batches of blackberries so and my freezer is already full of blackberries for the winter so I'm gonna take these and I'm gonna mix them in with the watermelon and I'm gonna have fruit bowls for lunch every day this week for a dollar ninety eight two dollars a week two dollars a week for my lunch because I'm getting plums and blackberries here that water is looking better and better to jump in but the Sacramento river is cold but gosh it's beautiful isn't it look at that trees in the winter time there's no trees there and this year we had um so much rain that there were a lot of mudslides like a mud so the water was Brown now it's back to blue and green blueish green and you can see past more than two feet in front of you so that's great so it's really cleared up that's awesome but um one thing that I would recommend now I say this a lot Dave Ramsey said it too Warren Buffett says that all those people if you want to be rich do what rich people do okay me I want to be rich so I do what rich people do so I no longer make you know two thousand dollars a month I make more than that now every extra Penny I go does not go to savings because my my money is fully funded it goes to investment so every penny I put away earns me money in return I make money off of my money and it's a decent amount of money and if p and I think that people really need to learn people who are in poverty really need to learn Financial lessons they're not going to teach it in school so you got to go to your library and pick up every book you can find that's as simple as it is and if you make exactly as much as you spend every month you have no choice you have to figure out a way to decrease your expenses or increase your income or both the fastest way to wealth is both but the easiest way to increase your income is by decreasing your expenses there's a million ways you can do that and that's what all this entire channel is about buy a cheap Fixer-Upper instead of a move-in ready home pay for it in cash I don't I can't save cash you you've probably if you look at your social security check you've probably made hundreds of thousands of dollars over the course of the first 10 working years of your life and you have nothing to show for it okay you've spent every penny you've earned you've you bought a new car uh you overpay for insurance you overpay for your cell phone you overpay for your medical insurance you overpaid for your car you overpay for your electricity you overpay for your cable that you shouldn't have anyway you overpay for everything when you can get it for half the price or cheaper you overpay for your food because you don't you don't put your meals you don't buy low-cost healthy alternatives you you eat out too much you overpay for everything and that's all there is to it you overpay even if you live if you rent and you don't own a house you're overpaying that's coming from a landlord I I have my own rental property if you don't own your house you're overpaying simple as that I pay my utilities which comes with I pay 817 dollars in property taxes every year and my my utilities that's it that's all I pay so if I'm paying 816 or I don't know if it's 16 or 70 if I'm paying 816 a year for my house and you're paying two thousand dollars a month for your apartment you're overpaying that's all there is to it if you're buying name brand clothing at full price you're overpaying you're paying for luxury and I copy what rich people do I copy what Warren Buffett does I copy what [Music] um Dave Ramsey does I invest everything I invest everything I make and I spend almost nothing I live on almost nothing check out my book I'm telling you people like my book and it gives them great uh confidence and an understanding of how it works and I'm probably going to write another book that goes more into detail more about investing more about but it's the psychology you have to invest if you want to to not be poor you have to no choice you have to if you want to be rich you have to be debt free for 95 there's a very small percentage that can used it to their advantage you are not one of them and don't think that you are get out of debt all of it your mortgage included and you're going to be you're gonna you can live on nothing you can live on a thousand bucks a month no problem and you can live a life of luxury on fifteen hundred dollars a month a life of luxury like I'm going to the spa well I'd rather go here but you know you can you can do that but you have to make the sacrifices and you have to do what rich people do if you want to be rich you're not gonna there's no nothing there's nothing new in finance if you want to be rich and you say I'm going to I'm gonna become rich but I'm going to do something different than every other rich person on Earth no you're not going to be rich and quit living in a poverty mindset a poverty mindset is where you feel like you can't get out figure a way out and also don't look at everything so negative oh I have to go to school today oh I have to go to work today it's hey I've got a job I'm gonna go out there and I'm gonna see if I can work some overtime to make some extra money so I can invest it so that I can replace my income from my job that I don't like pretend you like it if you walk into a job and you're in a good mood every day and you always show up and you just do your job that's you you'll be promoted that happens to me happen to me all the time all right folks I hope you enjoyed this rant on this beautiful 100 degree summer day where I'm sweating my bejesus off and I'm getting sunburned now um and I let me know if you enjoy the fact that I saved it for winter and also don't forget to like because the like button really helps the algorithm with YouTube and it'll get more people to watch these types of videos thus increasing their chances of getting out of poverty and increases the increasing their chances of becoming wealthy do what you can with what you've got prepper prints this out

Channel: Prepper Princess

Views: 27,482

Keywords: low income, poverty, finance, budget

Id: TiSEjqNJpMY

Length: 13min 59sec (839 seconds)

Published: Mon Dec 18 2023