Pratica di Shadowing: How to Get Rich (without the ick) - Impara a parlare inglese con i video
Creazione lezione...
1
Now, money can't buy happiness, but it can make creating a life that you love much more accessible, because two things that money can buy are choices and freedom.
2
And yet most of us were never actually taught how money works.
3
We were taught algebra, photosynthesis, about how mitochondria is the powerhouse of the cell, maybe a bit of Henry VIII, but not how to spend consciously,
4
invest consistently, or actually earn money in a way that actually creates freedom.
5
When I was a medical student, I used to budget my meal prep so tightly that my dinners would cost around 30p, So that's about 10 pounds per week of grocery spend.
6
And now I'm in a very different financial position, running multiple businesses as part of our venture portfolio.
7
And along this journey, I've had to learn, unlearn, and relearn so much about money.
8
If you're new here, I'm Izzy, a mum, tech co-founder, and Cambridge Dream doctor.
9
And on this channel, we talk about the mindsets and strategies to help you create a life that you love.
10
So in this video, I want to walk you through the money lessons that I wish that I had learned earlier.
11
How to stop leaking money through comparison and dopamine spending why saving a loan often isn't enough, how to think about investing,
12
and why building wealth eventually becomes less about penny pinching and more about creating value.
13
I've also put together a totally free guide with money mindset journaling prompts.
14
If you like, check that out.
15
I'll leave a link in the description below.
16
Now let's get into it.
17
And so broadly, this video will be divided into three sections, spending, investing, and earning.
18
So let's dive in.
19
So firstly, spending.
20
Firstly, there was keeping up with the Joneses, and now there's keeping up with the Kardashians.
21
Before Before we talk about the Kardashians though, let's go back to the OG basics.
22
Keeping up with the Joneses is a phrase we often hear
23
being thrown around to refer to the pressure we feel to keep up with the lifestyles of the people around us.
24
And it's easy to dismiss this as just anecdotal or like, oh, that won't really affect me.
25
That can't really be a thing.
26
But there's actually research to back it up.
27
The Philadelphia Federal Reserve did a study back in 2018 looking at the impact of lottery winners on their neighborhood.
28
And they found that the bigger the lottery reward that a winner collects, the more likely their neighbours are to file for bankruptcy in the following years.
29
And they concluded that basically, in order to keep up with the lottery winner who was now spending lavishly on upgrading their home
30
and their car and everything else, the neighbours around them not only took on higher levels of
31
debt in order to be able to keep up with this lifestyle, but they also invested more riskily, trying to go for things that were more high risk, high reward.
32
This all ties in with social comparison theory, which was first introduced in 1954 by a psychologist called Leon Festinger.
33
He suggested that as humans, we have this innate tendency to compare ourselves to all the people around us that we consider as peers.
34
For example, we look at people who appear to be in the same financial bracket as us, who we view as peers or friends,
35
who can seemingly easily afford another new designer bag or a summer vacation in Europe or a brand new car.
36
And we end up asking ourselves, surely we should be able to afford these things too.
37
Surely we should also be able to access this lifestyle.
38
And so we want to keep up and be at the same level as people around us.
39
But the cognitive flaw here is that we never quite know what they've sacrificed
40
or are going through to actually pay for those luxuries.
41
Then as an evolution to the keeping up with the Joneses, which is looking at people in your surrounding peer group or your neighbors, there is now also keeping up with their Kardashians mentality,
42
where we're driven by the excessive flaunting on social media to
43
chase a way of living that's levels up from where we are right now.
44
For example, Kim Kardashian's Instagram profile is filled with clothes, bags, and yachts that most people will never be able to afford.
45
But that doesn't stop people from idolizing this way of life
46
and putting it on a pedestal and wanting to live that way.
47
And some people even choose to go into debt to be able to show off and have that kind of lifestyle.
48
And so one powerful razor of a question that I find helps with this is asking yourself the desert island question.
49
This question comes from The Psychology of Money, which is the bestselling book by Morgan Housel.
50
And it's his suggestion of a way to make sure that we're not spending to impress other people.
51
And this is the question, if you were stranded on a desert island with just you and your family, and you had unlimited amounts of money, would you still want that thing?
52
Would you still be buying that thing?
53
And this question helps us strip a lot of the comparison away to focus on what we actually want
54
and what actually will bring joy and meaning into our lives.
55
And one of the reasons this social comparison often attaches onto material things
56
that we buy is that it's a lot easier to measure someone's value about how much material stuff they have, but it's much, much harder to actually measure the value of maybe being a good mum
57
or a good husband or a good friend.
58
And so this desert island question strips away a lot of the materialism
59
and the need for comparison to focus on actually what we want
60
and what will actually improve our lives in an actual real way.
61
It removes a lot of the trying to perform for other people and focuses on, okay, what do you actually want?
62
Another thing to do to combat the pressure of capitalism on spending more money is to actually cut the triggers
63
and do a cleanse.
64
So I will regularly go through my email and unsubscribe from marketing emails, which encouraging me to make purchases that I just don't need.
65
I'll unfollow accounts on Instagram that show luxury goods, that show buying loads of stuff and clothing hauls,
66
because these cues actually drive that craving and create more of this keeping up with the Joneses and Kardashians kind of loop.
67
And so by cutting out these triggers, this actually clears up your head space because you're not thinking about all these material things that you could be buying.
68
And you're just trying to opt out a little bit of this capitalist cycle that is very easy to get sucked into.
69
One example of my life is I used to follow some other creators who would talk about personal development
70
and that kind of thing, because I love that topic.
71
But then when some of them start to get more successful and have more money, they start to want to spend on luxury goods and start showing off about this on Instagram or their socials.
72
And one of them I saw bought a fancy, was it a Birkin bag or some very expensive designer bag.
73
And I was like, this isn't actually the good mental nutrition that I want to be putting into my brain.
74
This isn't actually the kind of content that is helping me to actually live a life that I love.
75
And instead it's creating comparison, it's putting luxury expensive goods on a pedestal and showing off about this lifestyle.
76
And so I actually just chose to unfollow them or like mute them because this just wasn't what I needed.
77
And one thing that I found fascinating here was that there was almost this like viral replication of this like mimetic desire.
78
Mimetic desire can be defined as wanting something because someone else either wants it, has it, or makes it seem desirable.
79
And this is a very well studied psychological phenomenon
80
because often we don't just want things because we independently decided that they're valuable.
81
We actually want them because other people's desire teaches us what to want.
82
And so we internalize what other people want.
83
And so seeing, okay, these people want this or they value this or they're showing off about this.
84
So maybe I should want that too because that's clearly what people value.
85
And this is a very natural human thing because when we're born into the world, we have to figure out our social environment
86
and understand what the human beings around us value
87
and how to fit into that social structure to be a functioning part of a tribe, of a village.
88
But that also means if we continually see a friend, a colleague, or even a creator or celebrity showing off a certain lifestyle with designer bags, a specific body type, or like plastic surgery,
89
a luxury flat, a rich girl routine, it's easy to start internalizing those desires, even though that might not necessarily have been what you actually wanted before you saw all of that content.
90
And I'm not saying there's anything wrong with all of these things intrinsically.
91
It's more about deciding for you what you actually want because there's so many voices out there on the internet.
92
It's so easy to get sucked into seeing all this content online, which is encouraging us to buy more things, to buy that luxury bag,
93
to treat yourself, to like have a very expensive maintenance wellness routine.
94
And maybe you genuinely on a desert island would want to do these things yourself.
95
And if so, go for it, live your best life.
96
The main question is, which is why I love the desert island question because if on a desert island, you would still want a Birkin bag,
97
even if nobody could see it and you could just only use it on the beach on this desert island, then maybe actually that has been internalized so deeply into you
98
that it is important to you and you would feel good anyway, even if nobody else could see it.
99
But I suspect for a lot of people wanting a Birkin bag is
100
because then they can actually use it and show other people about it.
101
So for example, this particular content creator, I found it so interesting that probably from a young age, she had internalized this desire, this mimetic desire for these luxury items.
102
And now that she has the financial means to access them, she has bought them and is showing off about them, which in turn is creating mimetic desire for those items in other people.
103
And it's so interesting because the capitalist society that we live in and the way that marketing happens for these luxury brands,
104
the bag itself costs nowhere near the price tag that they put on it.
105
The markup is crazy.
106
It's like 10 times or more on the actual cost of the materials for making the bag.
107
And the way that they maintain their business model is almost solely around manipulating this mimetic desire
108
and creating mimetic desire in as many people as possible.
109
Something I'd also like to say while I'm on my rant about mimetic desire is
110
that there's nothing inherently wrong about mimetic desire.
111
It's actually just the mark of us being social creatures.
112
The main problem that I sometimes see arise from mimetic desire is
113
when it pushes us to make financial choices
114
that are actually detrimental to our financial freedom and overall happiness and creating a life that we actually love.
115
Because having a fancy handbag doesn't actually make you happy.
116
It becomes part of what's known as a hedonic treadmill, where as soon as you acquire the thing, that becomes your new baseline and your body and mind adapt to think,
117
okay, this is the new normal.
118
And so you might feel the spark of happiness when you initially acquire the item.
119
But as soon as you have it, your baseline level of happiness doesn't actually permanently increase.
120
It kind of just goes back to your baseline, which is also why you can see people surrounded by luxury,
121
expensive things and still feeling miserable because those luxury goods don't actually give you happiness.
122
We're just told the story that they will make us feel important, like we're high status and that we will be happy with ourselves once we have it.
123
But that's ultimately an illusion and social media basically adds fuel to this cycle of mimetic desire.
124
Next, let's talk about the shopper's high and dopamine, because buying things, especially when they're on sale, makes our brains release the same neurochemicals as addictive drugs,
125
which is why it's called a shopper's high.
126
When I was little, I read a series called Confessions of a Shopaholic, and I think it later got turned into a TV show, but basically it encapsulates this frenzied desire to buy things,
127
especially when there's a sale.
128
And this might sound a little bit familiar.
129
I can definitely relate.
130
Where you're in the shops, you think you've gotten the one thing that you needed, maybe you just needed some like sunscreen.
131
And then you're on the way to the till
132
and you come across a sale aisle or a sale rack and there's some enticing discounts there.
133
And so by the time you actually get to the checkout counter, you've picked up a couple of new items
134
that you didn't actually need at all and didn't expect and you're met with a bigger bill.
135
But experts like Angela Wurzel, who's a therapist who works with compulsive shoppers,
136
actually suggest that it's more the process of buying rather than actually owning the item that gives shopping this addictive quality,
137
which lines up with this hedonic treadmill cycle It's the process of actually buying stuff rather than actually having it
138
and using it that feels exciting.
139
And I remember this scene from Confessions of a Shopaholic where essentially she was doing a clear out of her home.
140
And she would love buying loads of clothes every time there was a sale and would buy a ton of stuff.
141
And she opened up her cupboard
142
and it was just filled with all these like vacuum sealed containers of all the clothes
143
that she had bought but never really worn.
144
And so many of them were brand new, never worn, never used
145
and yet she was so excited when she was buying them imagining all the ways
146
that would make her happy and improve her life
147
and yet they never even got used in places like korea
148
things like dopamine sites have been popping off lately essentially they're websites where you can order things online
149
but nothing is actually ordered so nothing arrives
150
and you don't actually spend the money
151
and apparently the whole point is you get some of
152
that dopamine hit without your wallet actually paying the price now this sounds a little bit silly
153
but it seems to actually be working for some people to satisfy this shopping craving
154
and so this is how i've been approaching this shopping urge instead.
155
The first thing is just avoiding the bargain entirely if you can.
156
Things like sales are designed to tempt us and make us think like we're getting a better deal, so the simplest way is to just not actually even go there.
157
The only exception is maybe
158
if there's an item that's been on your wish list for maybe a set period of time
159
and then it happens to go on sale.
160
That's actually a considered purchase, not an impulse one.
161
Another tip from a consumer psychologist called Kit Yarrow, who authored the book Decoding the New Consumer Mind, is to decide whether you actually want the item before you even look at the price tag.
162
So the discount isn't what's driving the decision, it's actually the item itself.
163
And another mindset that helps me is to remember that shops
164
and websites are actually deliberately engineering the environment to make you buy.
165
It's literally their job, like that's literally the whole point of a marketing department.
166
And you start to see through this illusion of the mimetic desire and all the marketing signals that you've been fed, it feels kind of easier to defiantly say no and defy the corporate giants behind it all.
167
And the final thing that helps me is that whether something's on sale or not, think about the price to your life in a few different dimensions.
168
Money is only one of them because actually owning any item takes up some space and resources in your life.
169
For example, this lip gloss that I have.
170
Because I own it, I need to think about where to store it.
171
So it takes up space.
172
So right now it's on my desk.
173
And so it's actually creating some visual clutter on my desk.
174
It takes time and energy to think about managing, okay, where do I actually wanna store this lip gloss?
175
Do I wanna keep it with all my other ones?
176
Do I want to like keep it out here to use every now and then?
177
And so actually every single item you buy adds some kind of weight and clutter into your life.
178
And so a price tag only tells you the monetary costs.
179
And so before buying, I'll also ask myself, what does this actually cost me?
180
Does owning it create any new tasks, maintenance or mental load?
181
One book that I was so inspired by during my student years was Marie Kondo's The Life-Changing Magic of Tidying Up.
182
And she talks about how everything in our life has this weight, that it has this cost to keeping it.
183
And so actually letting it go is an act of freeing up your own life and creating more space, time, energy, freedom.
184
One other thing I like to do is run a potential big purchase Just pass someone
185
that I know will give me a completely honest opinion.
186
That person for me is my husband, Ali, and I found that the most efficient
187
and effective way to get my message across whenever we're a part is actually by using Whisperflow, who are kindly sponsoring today's video.
188
Whisperflow is a voice to text tool that turns whatever I say into a clean, ready to send message right inside whatever app I'm already in.
189
Here, I'll show you how I message Ali without typing a single word.
190
I simply start by pressing the FN key on my laptop.
191
Hey Ali, I'd like your opinion on this.
192
I am about to sign up for this mindset coaching course.
193
It's 440, no wait, 490 US dollars.
194
My reasoning is that firstly, the lead coach Marielle is incredibly experienced.
195
Number two, it will be keeping me accountable.
196
And three, it's on sale till tonight.
197
But can you be honest with me?
198
Is this actually a want or a need?
199
And should I actually buy it?
200
So Whisperflow managed to catch me changing my mind mid-sentence and even swap the price without me touching the keyboard.
201
It spelled Ali and Marielle right the first time
202
because it picks up names straight from the conversation and it turned my rambling into an actual list of things.
203
Whereas native voice notes would have probably handed me one long jumbled mess.
204
If you want to try out Whisperflow, I've popped the link in my description down below.
205
That'll give you a whole month of Whisperflow Pro for free.
206
Now let's get back into the video.
207
Okay, we're back.
208
Just had to deal with an emergency at the office.
209
Let's get back into things.
210
My mom used to tell me this Cantonese phrase, which translates as, you can't take money to your coffin when you die.
211
And that's exactly the hot take in Die With Zero, which is a book that I read
212
and why dying with money still left unallocated
213
or unspent in the bank is a sign that you've actually messed up your financial planning a bit.
214
And this blew my mind when I read it.
215
In the book, Bill Perkins' core take is that if you die with money still left in the bank, you've probably over-optimized for saving and under-optimized for actually spending or using money.
216
In the book, the author talks about how if you end up dying with money still left in the bank, which has been unallocated, it's quite likely that you've over-optimized for saving money
217
and under-optimized for actually living and actually using that money.
218
And the crux of it is that financial freedom isn't just about accumulating as much money as possible.
219
It's about actually using that money and mobilizing it to create a life that you love.
220
And this is the key shift that this book inspired in my own thinking, which is that money is not an axiomatic good.
221
An axiomatic good is a philosophical term for something that we treat as obviously good in itself, something that doesn't need further justification and is an axiom,
222
it's just obviously true.
223
Accumulating more and more money isn't just a good thing actually, because money is potential energy.
224
And this new framing of money as potential energy means that if you don't spend it or use it for anything, money is just sitting there as unused potential.
225
And it only actually becomes something in the real world
226
and becomes kinetic when you actually spend it or apply it to something.
227
The origins of money were literally like credit notes where people said, oh you gave me maybe some eggs or some flour
228
and I'm gonna write you a credit note saying that I owe you this amount of stuff.
229
And so it only genuinely creates a change in your life if you let it flow, if you let it move.
230
And so this totally changed my perspective from money being an axiomatic good, where as a student I used to think, okay obviously saving money is good, spending as little as possible is just obviously a good thing
231
to actually having the perspective of oh saving is useful to a point
232
but then actually the point of money is to be spent to turn from potential into kinetic energy
233
if it helps you to create memories buy back time create
234
a secure future for your children reduce stress build the life you want contribute to causes
235
that you really care about then it's actually working for you
236
and the author bill perkins talks about a story where he
237
had just started working in wall street in one of his first big proper jobs he was really ambitious
238
and had big plans to make a lot lot of money in the future.
239
And when he was talking to one of his mentors at the firm, he was talking how proudly about even though his salary is quite low right now, he manages to save money and to save money aside
240
and invest it through a combination of saving on his accommodation
241
and his food and trying to spend as little as possible so that he could save a little bit every single month.
242
He initially thought, oh, I'm doing such a good job.
243
I should be so proud of myself for saving.
244
But his mentor turned around and said, oh my God, what are you doing?
245
Like, why are you bothering to save?
246
Like that's so silly because you expect to make much more money in the future.
247
And so right now you expect that you're at your lowest earning potential ever.
248
And also where a few extra dollars spent on food or accommodation actually make a big difference.
249
And so if you're literally jumping through hoops to save a few pennies or a couple of dollars here and there, when you're also investing in yourself and expecting your earning power to increase over time,
250
that might not actually be the best use of life energy.
251
And so I know we've been talking a little bit about spending
252
and how to avoid the capitalist draw to spend impulsively on things that we see other people buying.
253
But there's equally an argument that spending is not an axiomatic bad, just as saving is not an axiomatic good.
254
And so, like many things, it's actually about the middle way, where it's about spending consciously, spending intentionally rather than recklessly, but also not scrimping and saving into misery.
255
And I think a lot of us, myself included, have at some point in our lives internalised that saving money is an axiomatic good.
256
More saved is more good.
257
But this book, Die With Zero, made this opposite argument, that money is only valuable because of what it can do.
258
So now let's talk about saving versus investing.
259
Let me lay this out for you.
260
If you have a $100 bill and you just keep it safe in your drawer, tucked away for a year, by the end of that year, it will have lost about 3-4% of its value.
261
This is because of inflation, our favourite, which describes how the price of goods usually increases by a few percentage points each year.
262
So the same $100 bill buys you less and less stuff over time because its purchasing power gets weaker each year.
263
This isn't because the $100 bill actually turns into like $97 instead.
264
It's still a $100 bill, but that just buys you less stuff.
265
And let's lay this out as an example.
266
Let's say one year, the price of a sourdough loaf of bread costs maybe $5 dollars,
267
the next year the very same loaf of bread might cost maybe five dollars and ten cents.
268
And let's say you have your cash sitting in a savings account that pays you two percent interest each year, but if the inflation rate for that year is three or four percent,
269
your money is still losing value over time
270
because the interest rate being paid to you by the bank is not keeping up with how much inflation is.
271
Back in 2019, I created a mini financial educational personal curriculum for myself and when I found out about this,
272
it was a shock to me because I thought that my money was growing in my savings account and seeing, oh, each year it's gotten a bit more and more and more, and I can see that over time.
273
But in reality, its purchasing power was actually slowly shrinking before my very eyes, and I didn't even know it.
274
And that's also the time where I really studied the concept of investing in debt.
275
Investing is essentially putting your money somewhere where you believe it will grow and create a larger return for you.
276
So instead of it just sitting there and depreciating in a bank account a little bit, you're using it to buy something like shares and a company, an ETF, a property, or even buy skills
277
and an education for yourself with the hope that this becomes more valuable in the future.
278
Warren Buffett's favourite book on investing in the stock market
279
and also the best one that I've ever read is The Intelligent Investor.
280
In the book, the author talks about how there's basically no real quick, easy and ethical way to guarantee that you're going to make money.
281
Because if there was, we'd all be making it rain.
282
What actually makes a lot of sense in the long run is actually boring, consistent and safe investments where you let the money compound over time
283
and you don't touch it for as long as humanly possible.
284
So after I read this book and a couple of others, like Your Money or Your Life and a few more investing books, I started investing in ETFs, also known as exchange traded funds.
285
There are a bunch of other videos on the internet diving deep into this, so I won't go into too much detail in this video, but essentially what I set up is an automatic payment.
286
And so then when my salary would land in my bank account each month, automatically a segment of it would have been transferred into my stocks and shares account.
287
And then automatically that would be invested into a basket of ETFs.
288
And this basket included things like the S&P 500, Vanguard, All World, FTSE 100, these kinds of things.
289
And I set it up to invest some of the money once a week.
290
And so this helps with dollar cost averaging.
291
And there were two key reasons that I set up this automation.
292
The first one was to save my brain space.
293
My brain space is rammed with a billion different things and a bunch of open loops, and I don't need one more.
294
And so if I can close one of those loops, set something up and automate it, that has basically removed it from having to take up space in my brain, which is very valuable.
295
The second reason why is that with a long-term investing strategy, actually not looking at it is kind of a helpful thing
296
because the market's going to go up and down and up and down.
297
And so watching that and watching the value fluctuate kind of adds in another like psychological element,
298
which is not particularly helpful because while ETFs like the S&P 500 have generally pretty consistently grown every year on average, they do go through ups and downs.
299
And so if you're opening up your trading account every single week and seeing, oh my gosh, it's gone down a lot, that may trigger some feelings in you that are actually not particularly useful.
300
Unless you're going to invest a lot of time and energy in learning how to become a day trader, and that's quite a risky strategy and needs a lot of attention,
301
it probably actually just makes the most sense to set and forget it, and maybe just check in a couple of times a year to make sure it's all looking reasonable.
302
And again, when I was doing this little personal curriculum for my financial education, one key area that I made sure that I invested in was investing in myself.
303
I strongly, strongly believe that investing in yourself is one of the best things you can do, one of the best investments with the highest return.
304
And so when I'm planning what I'm spending money on each year, I actually set a target for spending on investing in myself.
305
And so this can be a whole bunch of things.
306
This could be skills, so investing maybe in buying courses, it could be around mental health or physical health, so investing in a personal trainer or a therapist,
307
or maybe in a mindset coach who can actually help you to break through some limiting beliefs, or a tutor or a mentor, or even investing in your style, in your skincare, in the way that you take care of yourself
308
and actively investing in your personal and professional development as a human being.
309
And if you have your own business or you're thinking of starting one, this links in so naturally.
310
So for me, when I was investing and starting up my creator business, and then also all the other businesses we started since then, so including software and programs,
311
I've continually invested and reinvested money into that and also time and effort.
312
And so students in our Lifestyle Business Academy who are building their own businesses
313
and starting them from zero and growing them to 100k
314
and beyond are investing their own time and money into starting this business
315
so that they get an outsized return of many times what they put in initially.
316
I remember when I started on YouTube I actually invested in buying a nice microphone
317
which is actually the very one that I'm using right now
318
and it was a scary amount of money for me at the time.
319
I was like oh my gosh this is a notable investment
320
because I was also a student at the time but this investment
321
and also many of the others that I've made in the course of starting
322
and running my own businesses have paid off many times over.
323
And a lot of this is because you're actually just betting on yourself
324
when you make an investment you're making a bet of okay
325
this money invested here is going to create more value i
326
believe it's going to create more value over time compared to
327
if it was sitting in a bank account or just somewhere else
328
and so for me spending a few hundred pounds on this microphone at the time
329
that meant that my audio could level up and i was committing and investing in my creative business was actually
330
a bet on myself.
331
I was betting on myself that you know what Izzy, I think you have a chance at doing this
332
and doing this well
333
so I'm going to set you up for success by putting a little bit of money in
334
and with the belief that this is going to return many fold which it did.
335
And so especially if you're thinking of starting your own business or side hustle, investing in yourself is so valuable.
336
Also
337
if you're interested in checking out our Lifestyle Business Academy where we help total beginners start their own lifestyle business
338
and scale it from zero to financial freedom, then I'll I'll leave a link down below if you'd like to check out more details.
339
And this brings us very nicely on to the third part of the video, which is earning.
340
Because ultimately trying to scrimp and save to riches just doesn't really work.
341
Saving money works to build a nest egg.
342
But if you really want to get really, really wealthy, just saving won't actually get you there.
343
Very few people have saved their way into becoming multi-millionaires.
344
Usually what they do is they actually figure out how they can spend some money
345
and apply some effort to create outsized value, which is worth so much more than what they put in.
346
It's sort of an extension of this concept of investing.
347
Naval Ravikant has a concept called the aspirational hourly rate.
348
He said, set a very high aspirational hourly rate for yourself and stick to it.
349
It should seem and feel absurdly high.
350
If it doesn't, it's not high enough.
351
And so even before he had any real money, he set an aspirational rate of $5,000 an hour for himself.
352
And in this case, the Lulu is actually kind of the Salulu.
353
So let me explain.
354
The idea that he was getting to underneath this is that
355
if you can outsource something for less than your aspirational hourly rate, or avoid spending an hour of your time on a lower value task,
356
then you should, because your highest value time needs to be protected for the work
357
that can actually create wealth and move the needle for you.
358
And so then instead of only asking, how can I spend less, how can I invest better?
359
You also start asking, what is an hour of my time actually worth?
360
And what do I want it to be worth?
361
Because if you're trying to build wealth beyond a comfortable nest egg, at some point in the game can't just be about cutting costs, because there is a ceiling to how much you can save.
362
You can only save as much as you have actually earned, but there is not the same ceiling on how much value you can create.
363
So for me, this is where actually investing in yourself and earning more actually connect.
364
If I spend money on a cleaner, on childcare, software, education, coaching, or team support, the question isn't just, can I afford this?
365
It's actually, does this free up my highest value time to do work that creates more value than it costs?
366
And there's an interesting connection with all the like dopamine mimetic desire spending, which is that a lot of people feel comfortable dropping thousands on a watch or a fancy bag,
367
but they feel hesitant in hiring a cook or a cleaner to help them out with daily tasks around the house.
368
And one thing that I've noticed is
369
that this tendency to be more willing to spend on material things than on actually like household support
370
and household help asymmetrically affects women.
371
Because even in this day and age where we have more options for equality than ever,
372
women statistically still take on the large majority of the household work and mental load that goes on.
373
And honestly, I kind of want to see that change.
374
And obviously this is mostly a thing in heterosexual couples.
375
And so often if a woman is in a relationship with a man, then at home, she will be just doing more of the household stuff.
376
And this has been shown repeatedly in multiple studies.
377
Even if both of them work the same hours, are both working full time, even if they have kids, usually the mental load and often the execution as well falls to the woman,
378
which unfortunately leads to a situation where it's
379
so easy for women to feel burned out and depleted because they are doing so much.
380
They are carrying so much.
381
And if you are depleted and burned out and exhausted, you can't do your best work.
382
You can't thrive and love your life if you're feeling like you're always running on empty.
383
So I personally want to see us claim more space in this way
384
and be willing to actually delegate and outsource more of our household work where possible, where it's financially accessible.
385
And another conversation that is really important and needs to be had is around equality in the household.
386
We increasingly have some semblance of more and more equality in the workplace, but this isn't necessarily transferring to be represented in the household and in the home.
387
One book that I love on this is called Fair Play, and I'd highly recommend it to anybody who finds themselves in
388
the situation where they are taking on most of the mental load of the household.
389
It opens up some really good and worthwhile conversations with a partner around the division of household labour.
390
And so whether you are running a business where you need to invest time, money and resources into creating this value, which you then sell in exchange for money, because that's literally how business works, or also
391
if you have a job by investing in buying back your
392
time outside of work to be able to invest in yourself and take care of yourself.
393
Maybe spending money on actually getting some household help, getting some child care so that you have that time for yourself.
394
Or if you have a job this also applies because it means
395
that you can think about investing
396
and buying back your time outside of work to actually be able to pour into your own cup and level yourself up.
397
I know that not everybody has the financial privilege of being able to delegate
398
and actually hire help but there are often some moves that you can make to try to actually buy back your time.
399
One thing that I did when I was starting up my creative business was I was initially editing my own videos.
400
This was a problem for a few reasons.
401
Firstly, I was pretty crap at editing my own videos.
402
They weren't very good.
403
If you look at them on my channel, they're not great.
404
Secondly, it was taking absolutely ages.
405
It took me days to edit a video.
406
I was slow because it was not my usual workflow and it was just taking a while.
407
And it was a skill that I knew that I would have to practice in order to get quicker at.
408
And thirdly, I wasn't enjoying editing.
409
I didn't enjoy the edit.
410
There were a couple of things I found kind of fun, but broadly I wasn't loving it.
411
And so given it was taking me maybe like 12 hours to complete an edit from start to finish, and I wasn't enjoying it, I thought, you know what, maybe let me see if I can outsource this.
412
So I went on to, was it Upwork or Fiverr or People Power, one of these sites where you can actually post a job asking for freelancers to help you with stuff.
413
And I found
414
that I could actually hire an editor to edit my videos
415
for about 50 to 100 pounds depending on the video an exchange
416
that would buy me back my 12 hours of time
417
but at the time i was like you know what i can't afford this
418
because i'm a student and
419
so what i did instead is i spent a few hours tutoring
420
and i could charge a much higher price for tutoring where
421
that meant that if i spent about three hours tutoring
422
that would be able to pay for a video to be edited
423
which would have taken 12 hours of my time and
424
so then by doing three hours of tutoring i've basically bought back nine hours of my time basically for free
425
because my value as a tutor was higher than my value as an editor.
426
And this net meant that I didn't have to spend any money of my own
427
because I was earning the money and then immediately allocating it to editing.
428
And so there are some creative moves
429
that you can come up with to be able to buy back some of your time.
430
And so now we've gone through the full money cycle from spending to investing and earning.
431
And so ultimately financial freedom was never really about how much you earn
432
or how much you have in your bank account
433
and whether the bank has called to let you know that you have enough now.
434
And equally the goal isn't to be someone who never spends money.
435
What it's actually about is being someone who spends intentionally, invests intelligently, and uses money as a tool to create more freedom,
436
more ease, more joy, and more of the life that you actually want.
437
If you've seen any of my videos before, you'll know I always ask you to choose two action points
438
at the end of the video to actually make this a reality in your own life.
439
So I'd like you to pick just two things from this video that resonated the most.
440
So maybe it's about asking yourself the desert island question, or pricing something in all dimensions of money, time, energy, and space, or thinking about ways
441
that you can invest in the stock market or even in yourself to actually create a life that you love.
442
Write it down somewhere, maybe on a journal, a post-it note down below in the comments or send a message to a friend
443
and take that first small step this week.
444
And if you enjoyed this video, I think you might like this one over here, which is about the eight game-changing habits of the top performing women that I know.
445
And if you've made it this far, drop a flying money emoji down below and hit subscribe so you don't miss my next video.
446
Thanks so much for watching.
447
Take care of yourself and remember that the journey is the destination.
448
I'll see you in the next video.
449
Bye!
📺 Stesso Canale
B217
5 hobbies that everyone needs
British AccentBusiness EnglishDaily ConversationUniversity Students
B211
How to Choose a Life Path You Won’t Regret
British AccentBusiness EnglishUniversity StudentsWorking Adults
B24
Doctor Explains: How to train your brain to be so focused it feels WEIRD to scroll
British AccentBusiness EnglishDaily ConversationUniversity Students
C16
How to Build Self-Worth So Strong It Feels Illegal
British AccentBusiness EnglishUniversity StudentsWorking Adults
B28
📣 I call this: The Alysa Liu Method ⛸️
British AccentBusiness EnglishUniversity StudentsWorking Adults
C11
Watch this to completely reinvent yourself in 2026.
British AccentBusiness EnglishUniversity StudentsWorking Adults
B12
How to wake up feeling refreshed » 3 essentials
British AccentDaily ConversationUniversity StudentsWorking Adults
B23
8 Game-Changing Habits of Top 1% Women
British AccentBusiness EnglishUniversity StudentsWorking Adults
B22
How to Learn a British Accent *Fast* (Modern RP)
British AccentBusiness EnglishUniversity StudentsWorking Adults
C122
Hobbies: Your Best Defense Against Brain Rot
British AccentBusiness EnglishUniversity StudentsWorking Adults
B27
How to Journal Like the Top 1% in 2026
British AccentBusiness EnglishUniversity StudentsWorking Adults
B27
These 8 Books Changed My Life (and they might just change yours too)
British AccentBusiness EnglishUniversity StudentsWorking Adults
C13
how to be so magnetic it feels *illegal*
British AccentBusiness EnglishUniversity StudentsWorking Adults
B223
9 Study Techniques that got me through Cambridge Medical School *science-backed*
British AccentBusiness EnglishUniversity StudentsWorking Adults
B26
I Escaped Burnout By Unlearning These 3 Toxic Beliefs
British AccentBusiness EnglishDaily ConversationUniversity Students
C14
Life is Short: Here’s How to Make Time for Everything
British AccentBusiness EnglishUniversity StudentsWorking Adults
C110
How to Not Waste Your Life (before it's too late)
British AccentBusiness EnglishUniversity StudentsWorking Adults
C219
Life is too short to be scrolling 860 hours a year
British AccentBusiness EnglishUniversity StudentsWorking Adults
C17
What If You Could Rewire Your Brain for Success (with science)
British AccentUniversity StudentsWorking Adults
B24
How to Lock In and Transform Your Life (using science)
British AccentBusiness EnglishUniversity StudentsWorking Adults
✨ Video consigliato
B23
197 frasi
The Financial Habits No One Talks About (But Everyone Needs)
Business EnglishDaily ConversationUniversity Students
B23
95 frasi
🇬🇧 Real English Conversation - Money 🇬🇧 Intermediate English Listening Practice B1/B2
British AccentBusiness EnglishDaily ConversationUniversity Students
B21
268 frasi
3 Things That Feel Like Progress But Aren't
British AccentBusiness EnglishDaily ConversationUniversity Students
B21
40 frasi
I MADE $15B WITH CHAT GPT
Business EnglishDaily ConversationUniversity Students
B21
247 frasi
20 Cheat Codes I Wish I Knew at 20
Business EnglishDaily ConversationUniversity Students
B23
228 frasi
7 Habits of Top 1% Women
British AccentBusiness EnglishDaily ConversationUniversity Students
B22
196 frasi
12 little luxuries that cost $0 | live rich without being rich
Business EnglishDaily ConversationUniversity Students
B11
96 frasi
How to STOP Spending Too Much Money? | 💖 Healing podcast | Intermediate
Business EnglishDaily ConversationUniversity Students
B21
314 frasi
If you're trying to get RICH and in your 20s or 30s, please watch this.
Business EnglishUniversity StudentsWorking Adults
B2226 frasi
Talking About Financial issues | Business English Conversation (B1–B2)
Business EnglishDaily ConversationUniversity Students
B22
134 frasi
How to *ACTUALLY* Start a Healthy Lifestyle in 2025
British AccentBusiness EnglishUniversity StudentsWorking Adults
Vocabolario e note di pronuncia per questa lezione
Questa lezione di conversazione di livello B2 si basa sul video “How to Get Rich”. Questo video contiene 449 frasi e 7304 parole da ripetere con lo shadowing. Il parlato dura 31:08. Chi parla va veloce, circa 235 parole al minuto: aspettati suoni legati e ridotti. Il 85% delle parole rientra nelle 3.000 più comuni dell’inglese; conviene studiare le altre prima di iniziare.
Vocaboli chiave di questo video
Le 15 parole più avanzate del video, con pronuncia e significato:
| Parola | Pronuncia | Significato |
|---|---|---|
| axiomatic aggettivo | /ˌæk.si.əˈmæt.ɪk/ | assiomatico |
| tutor sostantivo | /ˈtjuːtəː/ | istitutore, istitutrice |
| dopamine sostantivo | /ˈdoʊ.pəˌmin/ | dopamina |
| optimize verbo | /ˈɑptɪmaɪz/ | ottimizzare |
| firstly avverbio | /ˈfɜɹstli/ | dapprima, prima |
| mindset sostantivo | /ˈmaɪn(d)ˌsɛt/ | mentalità, modo di pensare |
| outsource verbo | /ˈaʊtˌsɔːs/ | esternalizzare, subappaltare |
| baseline sostantivo | /ˈbeɪslaɪn/ | riferimento |
| capitalist sostantivo | /ˈkæp.ɪ.tə.lɪst/ | capitalista |
| lottery sostantivo | /ˈlɑtɚi/ | lotteria |
| inflation sostantivo | /ɪnˈfleɪ.ʃən/ | inflazione |
| accumulate verbo | /əˈkjuːmjʊˌleɪt/ | accumularsi |
| clutter sostantivo | /ˈklʌtɚ/ | confusione, disordine |
| gloss sostantivo | /ɡlɔs/ | glossa, chiosa |
| kinetic aggettivo | /kɪˈnɛtɪk/ | cinetico |
I phrasal verb che sentirai
| Parola | Pronuncia | Significato |
|---|---|---|
| keep up with verbo | tenere dietro a | |
| go through verbo | attraversare | |
| open up verbo | aprire | |
| burn out verbo | spegnersi, estinguersi | |
| check out verbo | investigare | |
| end up verbo | andare a finire, finire | |
| figure out verbo | scoprire, rendersi conto | |
| set up verbo | /ˌsɛt ˈʌp/ | preparare, installare |
Frasi da ripetere
Frasi brevi e complete del video che puoi riutilizzare nella conversazione di tutti i giorni:
- I'll leave a link in the description below.
- Would you still be buying that thing?
- Do I wanna keep it with all my other ones?
- Let's get back into things.
- I didn't enjoy the edit.
La grammatica di questo video
Le strutture che chi parla usa di più, con le parole esatte del video:
| Struttura | Nel video |
|---|---|
| “Used to” used to + verbo — un’abitudine o uno stato passato che non è più vero | used to budget · used to follow · used to tell |
| Present perfect continuous have/has been + -ing — un’azione iniziata prima e ancora in corso | have been popping · i've been approaching · we've been talking |
| Frasi condizionali if + frase, will/would + verbo — una condizione e il suo risultato | if on a desert island, you would still · if there was, we'd all |
| Present perfect have/has + participio passato — un’azione passata che conta ancora adesso | I've also put · they've sacrificed · have been |
Pronuncia a cui fare attenzione
Chi parla usa 128 contrazioni e forme ridotte, come you're, I'm, isn't. Pronunciale nella forma breve, così come le senti.
- I suoni “sh” e “zh”: aspirational /ˌæspəˈɹeɪʃənəl/, inflation /ɪnˈfleɪ.ʃən/, intentionally /ɪnˈtɛn(t)ʃənəli/, gosh /ɡɑːʃ/, illusion /ɪˈl(j)uːʒ(ə)n/
- Parole lunghe — attenzione all’accento: axiomatic /ˌæk.si.əˈmæt.ɪk/, aspirational /ˌæspəˈɹeɪʃənəl/, capitalist /ˈkæp.ɪ.tə.lɪst/, accumulate /əˈkjuːmjʊˌleɪt/, internalize /ɪnˈtɝnəlaɪz/
I suoni difficili per chi parla italiano:
- Consonante finale — senza aggiungere una vocale dopo: mimetic /mɪˈmɛtɪk/, axiomatic /ˌæk.si.əˈmæt.ɪk/, optimize /ˈɑptɪmaɪz/, mindset /ˈmaɪn(d)ˌsɛt/, outsource /ˈaʊtˌsɔːs/
- /æ/ — più aperta della “e”: axiomatic /ˌæk.si.əˈmæt.ɪk/, aspirational /ˌæspəˈɹeɪʃənəl/, capitalist /ˈkæp.ɪ.tə.lɪst/, basket /ˈbæskɪt/
- /ŋ/ finale — senza pronunciare la /g/: craving /ˈkɹeɪ.vɪŋ/, ceiling /ˈsilɪŋ/
Come esercitarsi con questo video
- Ascolta tutto il video una volta senza parlare e annota le parole che non conosci.
- Inizia a velocità 0,75×, fai shadowing frase per frase e torna alla velocità normale quando diventa facile.
- Registrati e confronta con l’originale, facendo attenzione a parole come axiomatic, tutor, dopamine.
Cos'è la tecnica dello Shadowing?
Shadowing è una tecnica di apprendimento delle lingue supportata da studi scientifici, originariamente sviluppata per la formazione dei traduttori professionisti e resa popolare dal poliglotta Dr. Alexander Arguelles. Il metodo è semplice ma potente: ascolti un audio in inglese di madrelingua e lo ripeti immediatamente ad alta voce — come un'ombra che segue il parlante con un ritardo di solo 1–2 secondi. A differenza dell'ascolto passivo o degli esercizi di grammatica, lo shadowing costringe il tuo cervello e i muscoli della bocca a elaborare e riprodurre simultaneamente i modelli di discorso reale. La ricerca dimostra che migliora significativamente la precisione della pronuncia, l'intonazione, il ritmo, il discorso connesso, la comprensione dell'ascolto e la fluidità del parlato — rendendolo uno dei metodi più efficaci per la preparazione alla prova di speaking dell'IELTS e per la comunicazione reale in inglese.