A short YouTube talk by Ndubuisi 'Andy' Egwim urging viewers to learn about money and perform a personal financial audit to find and stop unnecessary spending. Advice includes scheduling quarterly expense reviews (alone or with a partner), checking subscriptions and insurance, and negotiating recurring bills; speaker gives examples of finding £350 in forgotten subscriptions and saving £205 on web hosting after negotiation.
Questions this video answers
£350
£205
2008
Chapters
That's why you need to learn about money. So you've ticked one of the boxes. Attend one financial seminar, one workshop or something that actually helps you to build your financial iq. Learn about money. Why you're a steward. You don't manage it carelessly. That's why you need to learn about money. So you don't need to be an auditor or an accountant to conduct a financial audit. What does that mean? It just means going through your expenditures. How many of us have sat down in the last three months to look at your expenses? At least once you sat down, look at your expenses. Income. Okay, a fair bit. How many of us have never even bothered about it? Expenses you need to audit. What does stewards do? Stewards take care of things. You need to sit down. You don't have to do it every day. Life is for the living. But if you put in your phone reminder every quarter and this works if you are a married couple, it works nicely if you do it with your partner. What am I spending on? Look, I've had doctors, some senior GP partners who said, my son is in medical school, the other one is in. My daughter is in medical school, the other one is abroad in dental school and another one is about to enter school. I don't have any money to even save to invest. What should I do? I gave them, go back and do the audit. She came back and said she found 350 pounds that she's spending she didn't even know about. Sometimes the subscription, it might be in Prime, Amazon, Disney. I've not watched it for six months. Maybe choose one Netflix, maybe. Or you might find yourself, you subscribe to a club or something. And for some people it's like your insurance. You're overpaying on your car insurance. Just let it go to the next month and you don't even call them to say how far. What can you do for me? Just two days ago, my web host, I said to them, look, we've been using you for years. Before I started using you, I had Hostgator. I used them since 2008. I was blogging as a medical student. Now, my renewal will come up soon and would you like to keep us as a customer? We've got like multiple websites. So yeah, what can you do for us? Okay, before you need just within one hour from one website, they say, okay, your next Hosting on this moneywisedoctor.com will take off 205 pounds for you. Maybe 205. Not a lot of money for you, but for me it's still good money. Right. And that's just from 45 minutes. One hour work of negotiating. So audit your finances. Where are you looking?
