When you are starting out in your wealth-building journey the first important thing is to understand the power of separation. In this video we’ll talk about why it is important to separate saving and spending in different bank accounts and we go through several different models of how to use your different bank accounts.
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I’m Sophia, a doctor based in Europe and I love to talk about all things money, wealth, investing and the psychology behind it. I’m also intrigued by the idea of financial freedom - would love for you to join me on that journey :)
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I do not provide tax, insurance or investment advice. This content is for educational and entertainment purposes only. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative for future results. Investing of any kind involves risk, including the possible loss of principal. Please always do your own due diligence before making any investment decisions.
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⏱️ TIMESTAMPS
00:00 Intro
00:28 What does separation mean
01:46 Mental Accounting
02:56 Different bank account systems explained
#moneymanagement #cashmanagement #bankaccounts
