In this episode, MissBeHelpful’s Yanely Espinal tells us the five biggest money mistakes low-income earners can make. The first 1000 people to use the link will get a free trial of Skillshare Premium Membership:
Both of my parents immigrated to new york city from dominican is super dangerous because a lot of times, high interest-rate ones, strategically place their stores in neighborhoods go up to 300% or 400% in interest fees, which is insane get yourself two to three days of time to make the decision. them know that you are, right now, in a situation where and you will be coming
Into some money within the next few days, try to see if there’s a credit union in your community. see if there are nonprofit education organizations that and what is going to be the best for you in your situation. and i kept seeing the word “assets” over and over again. are depreciating assets, which means that, over time, and i found a survey report on prosperitynow.org,
Which because they’re not growing with your net worth every day. and nothing fancy, nothing more, so you can free up that’s actually the perfect segue way into mistake number and so she went online to get a season pass for sesame place. he turns 18 you know he’ll have some money growing in the stock and what she said to me was, oh, i don’t have money for that. for her
Son’s future the same way she would prioritize sesame that sesame place is going to be really great right now. to be a little controversial because i don’t have children. myself that, when you grow up as a low-income child, that you don’t have, that you don’t get because there’s not to themselves, i want to be able to get my baby the nice things and the things that
Are lasting, and impactful, and meaningful things that grow, and things that they can actually in low-income communities not just brush off the stock market and what’s actually legitimate, and what’s worthwhile. it is really important to have the three basic types that you’re not able to pay for, it can lead you to become and if you are not receiving any type of health
Insurance doesn’t offer health insurance, or your wage-based job, type of job, they even might not offer health insurance package. are available to you, what do they all mean, understand who depends on your paycheck, on the income that you bring in, that anything bad happens to you and you leave this earth so it’s really important that you leave them with something. but it
Is really important to be able to go to a specific place and they said, ok, we’re going to show you your government it go further in that month because they were looking then, they spend it right away, and then it’s gone, try to see if you can switch your budgeting to a shorter that could help you stretch that money out a little more i watch a video that has really good tips,
Or really you can explore new skills, deepen existing passions, because a lot of times, you can get a decent picture, skillshare lessons are curated specifically for learning, explore classes with skillshare to unlock your creativity
Transcribed from video
5 Common Money Mistakes Made By Low-Income Earners (feat. @MissBeHelpful) By The Financial Diet
