In this video I am sharing 7 important money tricks that can help build wealth more quickly.
These methods for becoming rich are not going to be the kind of things you'll hear in other generic videos or read in an article.
These tricks are high risk, hard to do and many people will agree are bad financial advice.
But I use them all and they have worked very well for me on my journey so I thought I'd share them in case you're interested.
Some of these strategies take a lot of guts. Others take a lot of effort or focus.
And all of them take a lot of time and dedication.
So don't do these at home unless you really decide you want to go against the grain of popular advice.
CHAPTERS
Introduction - 00:00
1. Assets vs Liabilities - 00:49
2. Focus on non-linear growth - 03:07
3. Do not hold cash - 05:19
4. No speculation - 06:35
5. Diversify income streams - 09:08
6. Be prepared to move fast - 10:45
7. Prioritise long-term growth over short-term profit - 12:36
💵 GREAT INVESTING APPS I USE
GET A FREE SHARE WORTH UP TO $150 WITH STAKE (UK, Australia, NZ)
https://hellostake.pxf.io/qnA3xq
You will get a free share if you sign up using this link and deposit a minimum of £50.
GET A FREE SHARE WORTH UP TO £200 WITH FREETRADE (UK ONLY)
https://magic.freetrade.io/join/sasha-yanshin
You need to sign up and make any deposit to get the free share.
SIGN UP FOR ETORO (Global)
https://med.etoro.com/B15358_A95689_TClick_SSasha.aspx
67% of retail investor accounts lose money when trading CFDs with this provider. Your capital is at risk. Other fees may apply.
👍 SUBSCRIBE TO MY CHANNEL
https://www.youtube.com/c/SashaYanshin?sub_confirmation=1
DISCLAIMER: Some of these links may be affiliate links. If you purchase a product or service using one of these links, I will receive a small commission from the seller. There will be no additional charge for you.
DISCLAIMER: I am not a financial advisor and this is not a financial advice channel. All information is provided strictly for educational purposes. It does not take into account anybody's specific circumstances or situation. If you are making investment or other financial management decisions and require advice, please consult a suitably qualified licensed professional.

Hey guys, it's sasha in this video i'm going to share seven important money tricks that can help you build wealth more quickly. Just a word of warning. These methods are not going to be the kind of things that you'll hear in other generic videos or read in your typical article. These are not your everyday bit of financial advice.

In fact, these tricks are pretty high risk. I personally use all of these and they work pretty well for me, but some people would probably say that these are actually really bad financial advice. Some of these will take a lot of guts. Others take a lot of effort of focus.

None of them are easy and all of them carry a lot of risk. So don't do these at home unless you really decide for yourself that you want to go against a grain of popular financial advice and understand the implications i thought i'd share them anyway. All right, the first one is about managing personal finance and specifically managing debt. Now i have worked in fast small growing companies and i've started my own business over time and i manage my own personal finance in the same way that i manage the finances of a young, fast growing company.

I assess my personal balance sheet by looking at my assets versus my liabilities. I have debt, but i also have assets at the same time, and this goes against everything you'll hear about managing your personal finance as well. I do not prioritize paying down cheap sustainable debt. I don't care for that.

Sometimes i will have personal free cash flow. That means i have more money coming into my budget than leaving on a monthly basis, and when that happens i go and take that free cash. I invest it into assets. I own my own house, i have investments, i treat investments as a current asset because they are fluid.

I can sell out of all of my investing positions at any time and have the money in my bank account within about a week, and i look at my finances in the same way that i'd look at the finances of a high growth company. That i would want to invest in. I want my current assets to be greater than my current liabilities. That is a good place to be.

That means at any one time i could go and take all of my investments out and repay all of my short-term debt. Immediately now i'm using the word current loosely here, i treat current debt as being anything other than mortgages, any short-term debt, but earlier on, i didn't even have that balance struck. I've been in positions before where my current assets were lower than my current debt, and i felt perfectly fine about it, because i was using that debt as a leverage instrument to enable me to grow revenue. It funded me being able to start my own business.

It funded me being able to learn, and i don't focus on repaying debt. I don't really care about becoming debt-free or becoming mortgage-free. Those are not my objectives. I care about growing my revenue and growing my assets and if those assets and revenues are growing at a rate that is substantially higher than that debt, preferably accelerating at the same time, i really don't care about the absolute debt figure.
It's the ratios. That really count now i did warn you. This is not going to be good financial advice. Let's move on to the second one.

The second strategy is to focus on investing time only in non-linear growth of assets and revenues. Now i'm going to explain exactly what that means. It kind of sounds simple in a way, but it really is an important factor that many people don't really consider fully. Most sensible people, unlike me, have a job and that job pays an amount of money per month and there are two ways that that revenue stream can grow one.

You can get a better paying job, so your salary will increase by some kind of percentage number two. You can work more hours or maybe get a second job. The hours will then increase by a percentage instead and as your revenue is basically your salary and salary multiplies by time. You will then be able to earn more money if either your salary or your time increase because of that formula, but that growth is linear.

The amount of time that you have to work is limited and you're, probably already working most of that time. Anyway. The amount of salary that you can earn also has natural caps. You might be able to earn 10 more, maybe you'll be able to earn 20 more.

Can you earn 200 more in your work, probably quite unlikely. Now i have been working for myself for about seven years running my own business and, more recently, i've been focusing on building new businesses that can deliver non-linear growth as well. This youtube channel the one that you're watching right now is one example. I started making videos on this channel at the end of march 2020.

This is my first foray into youtube and the first few months i made absolutely nothing. I earned nothing. Then, in september last year i was making about five hundred dollars a month from youtube by december. I was making about two thousand dollars per month and over the summer this year, i'm averaging about seventeen thousand dollars per month from youtube.

Now, as the revenues grow the time and money that i have spent to get to that revenue begin getting paid off and that growth in revenue is not linear because of how youtube and general online content work, i also run a few different websites and i'm working On building out systems that generate revenue in a non-linear way there as well, but that's a story for a little bit later, let's move on to number three and number three: is i don't carry any cash? This is another one that goes against all the advice that you're here and most people will probably agree that it's a bad approach, but i don't carry any cash. I don't have any cash sitting around. I only have just about enough money in the current account. For my upcoming regular expenses - and i don't have an emergency fund - and there is a reason for that - i always have a million different places where i can deploy cash to grow my assets or revenue and to focus on growing those things for the future.
Each of the businesses that i have can grow. If i put more cash into it, i can produce more content. If i hire more people to help, i have upgraded my kit, for example, for youtube, and i still want to make a lot of upgrades that i haven't made yet because they require cash. I want a new camera.

For example, i want to invest in a switcher and a bunch of other things that you probably don't care about, but i haven't got them yet for my youtube channel, i'm waiting for more cash, so i can prioritize it on those things when the time is right. Some of the spare cash that i have goes into different types of investments as well, because they also yield long-term growth through those assets appreciating in value. But i personally have next to no cash on me at any time now. Trick number four is to make sure that you are on the right side of the line between investing and speculation.

Now you might have figured out by now that i am relatively happy with taking on risk, but there is definitely a line that i do not want to cross when it comes to risk - and this comes from me working in risk management for a large part of My life and that line is when investments turn into speculation. Now i know that speculation could earn a lot of money, probably far more than i will be earning in terms of percentages, and sometimes they can earn that money really quickly. But speculation can also crash just as quickly as speculative investments have far more unknown unknowns and as a mathematician, i absolutely hate having unknown unknowns. I like maximizing my level of certainty, so this is why i do not play the short squeeze game against the hedge funds with gamestop or amc.

This is also why i do not generally invest in cryptocurrency at all times. I want to base my investing decisions on fundamentals on things that i can assess on things that i can work out things. I can genuinely place likelihoods on things where the majority of the future outcomes can be forecasted to some degree, and i know that i'll miss out on some opportunities, like bitcoin increasing value by 1 million 100 billion. But i'm okay with that.

There is no real link between mathematical fundamentals and the current state of crypto valuations and maybe they're going to go up in value. I'm not saying that they're not, but for me the outcomes are based more on gambling kind of theory and hey the odds could be good, but i don't like gambling, because there is no way to actually know what those odds are, or at least approximate them a Load of unknown unknowns can kill that speculative investment, and i don't like playing that game either for crypto. For example, banks could force legal changes, governments could enforce prohibited legislation, there can be undiscovered fundamental technical flaws in their structure or some unforeseen economic flaws, and they could all be fatal, and i'm not saying that any of these will play out. There probably won't but sure some of my investments are also speculative.
I hold positions, for example, in companies like lucid, which is a car company, valued at 36 billion dollars that hasn't actually sold a single car. Yet i am aware of the risk involved. I am aware that some people will claim that that is speculative, but that's about as close to the line as i personally get. I feel i can still assess those risks and make meaningful data-based projections for my investment, and i am happy with that now.

The fifth trick is to diversify income streams, to mitigate volatility and risk, and this is one that is a lot more difficult than it sounds. It means working on more than one thing at a time. It means maybe getting up at 5am to work on something before you start working on something else at 8 or 9am, or maybe it means working late into the night or the weekend, but if you want to have complete financial security, freedom, etc. This may be the step that you would need to take for my content, business.

For example, i diversify my income between platforms. I have content on youtube here and i also have websites, for example, in this business, and if one was to disappear overnight, for whatever reason i still have the others that will remain. I have different revenue streams and i'm working to add more there's ads, affiliates and direct sales, for example. If something happens to one of these, if ads, for example, suddenly for whatever reason start earning 50 less revenue, it doesn't hit my overall numbers that much.

I also diversify between industries. This channel talks about money, but i've also got another website. That is all about travel and you can imagine how that website is doing over the last two years because of the situation we find ourselves in, but because my revenue streams are diversified, i can weather that storm and i can wait it out. It's important, though, to not go too far.

You don't want to spread yourself in. You want some diversification to mitigate for major black swan events. Major setbacks major issues happening, but you want to give yourself enough time to pay enough attention to each of the projects so that that project can grow. So, let's move on to trick number six now, because i'm getting a bit carried away and the trick number six is always be prepared for sharp, turns and diving in at the deep end.

Now it is critical to be prepared to take advantage of opportunities or to make rapid moves when you have to. This is something that a lot of people actually find very difficult, because having this mindset can feel very uncomfortable, it can put you out of your comfort zone, but sometimes life will throw things at you and if you are not ready to jump, if you not ready To take action, you will miss it. Sometimes life will throw you an opportunity. Maybe you'll hear about that dream job, for example, being advertised, but you're too busy you're afraid that you won't get it.
It doesn't really make sense for you to apply. You don't want to move to a different city. You don't want to move to a different country. What, if you don't even like the job, and you give up the current job that you have, that you kind of think is.

Okay. People are often hesitant to grab an opportunity when it presents itself. Sometimes life will actually go and throw you a crisis, and if you don't move fast, you can get left behind. You might work in an industry that gets hit hard by the economy or changing times.

You can choose to stick it out and see what happens? Maybe things will change? Maybe things will actually improve in the future. Who knows, but things can actually not change. Instead, they can decay and it can send you down a spiral that becomes harder and harder to get out of like most people. I've had this happen several times to me as well.

I've worked for companies that have gone bust. I've lost my job in five minutes during the financial crisis. When i worked in the bank, i've been there. I've had all of these experiences.

I've had my company get crushed by brexit and the events that happened last year globally. Now i do know how it feels, but you do have to keep a cool head. You have to take a step back, you have to analyze the situation and you have to make your move. There was a reason why i started this youtube channel in march last year.

Now, let's move on to the next tip, and this one is really hard but also really effective, and it is to prioritize long-term growth over short-term profit. Now i'm talking in business times again because remember, i generally actually think about personal finance in the same way as managing a business when presented with a choice, i will always pick the long-term growth option over the short term. Profit choice: it's a bit like investing in an early stage company when that company is technically making a loss every single quarter, because they are investing all of their money that they have today will have and all of their effort into growing revenues in future years. Instead, rather than you know, taking the profits and paying dividends, these choices may not be very obvious and they can actually be quite difficult to make.

Now, after i lost my banking job during financial crisis, i had a few different job offers to join other banks. For example, and i could get a promotion, i could become a senior analyst while i was at it sounded pretty good, but instead i went and took a lower paid job in the energy sector instead because it was a manager, level role it. Let me get experience of managing a team of having people work for me for the first time, it taught me a lot of things that you can't learn from a book and those things. Let me move much faster up the career ladder after i had that job.
I chose to take less money at the time, because i knew that it would build a better trajectory in the future instead of pocketing a higher salary which would not have led me to have the same opportunities afterwards. I do the exact same thing today. I could be banking a lot of the revenue that i am making, but i don't need to prove anything to myself or to anybody else. So i constantly reinvest today's revenue into scaling my business for the future instead of feeling smug, that's just how i'm wired.

Now i hope you found this video useful. If you did, please don't forget to smash the like button for the youtube algorithm. I'd really appreciate it. Thank you so much for watching this video and i'll see you guys later.

You.

By Stock Chat

where the coffee is hot and so is the chat

27 thoughts on “7 critical steps that can actually make you rich”
  1. Avataaar/Circle Created with python_avatars C S says:

    This makes complete sense. If you have £10, and you have £20 debt, you can go and pay your debt down by £10 and still owe £10, OR use the £10 to invest and make it £40 or £50 allowing you to create more revenue….

  2. Avataaar/Circle Created with python_avatars aSlimtube says:

    Excellent video and well presented. Forces me to look at all of my cash holdings and ponder how much I am loosing by hot having them in ETFs.

  3. Avataaar/Circle Created with python_avatars TastySanchez says:

    For point 3 on cash I'm starting to think the same way. I have a safety fund now sitting earning almost 0 interest. I'm thinking of moving it into ETFs and bonds so at least it is doing something

  4. Avataaar/Circle Created with python_avatars felixfallax says:

    That’s one of your best videos, Sasha. I agree with all of these especially number 1 (avoiding the Dave Ramsey mantra) and number 4 (distinguishing between investing and speculation).

    Also the importance of diversified income streams has really become apparent in the past couple of years. Many people who were previously reliant on one income (FT job) are now struggling due to losing that job.

    Keep up the good work!

  5. Avataaar/Circle Created with python_avatars Jag Online says:

    Sasha, when did you start living with this method? Like as in treating your own finances as a high growth startup. I assume it wasn't during your days of working in various banking positions?

  6. Avataaar/Circle Created with python_avatars G C says:

    Number one – slag off T212
    Number two – advertise other brokers with free shares
    Number three – repeat for for numbers 4,5,6 and 7

  7. Avataaar/Circle Created with python_avatars Gavin Fraser says:

    Good video and well done. I think its about balance too. Don't stash all the cash and go and buy the things you want. You need enjoyment from the money you're making and in life.

  8. Avataaar/Circle Created with python_avatars Zimpaz says:

    Sasha…do you ever think you will make a video showing us all your investments, assets and amounts in each? Might be a bit personal but would be really interesting

  9. Avataaar/Circle Created with python_avatars ZAHIDA KHATTAK says:

    Sasha….I agree….great video…I myself take most of these steps and they do work….but as you said conventional financial advice will not advocate it….as it has to be your risk to bear….

  10. Avataaar/Circle Created with python_avatars Nuromanca says:

    You've disclosed being a mathematician on a few occasions. Maybe a talk through the inner dynamics of compounding principles could be a worthwhile topic?

    For those of us still standing on the sidelines awaiting this widely-assured crash/bargain bonanza… in my own glib way, I've noticed 'buying the dip' makes basic sense but waiting for certain stocks to fall at least 10% seems like a 'stopped-clock' strategy.

  11. Avataaar/Circle Created with python_avatars willfindjr says:

    Recently started following you.. love your content. Totally aligned with views shared in this video.

  12. Avataaar/Circle Created with python_avatars Jag Online says:

    Video was so solid I had to watch it again! Miss you uploading on your second channel

  13. Avataaar/Circle Created with python_avatars Archie Harris says:

    Great video. I am interested in your ideas and options on travelling. What’s your travel website called?

  14. Avataaar/Circle Created with python_avatars Jack Tilley says:

    Out of curiosity do you see a bear market in the next 3 years? I don't understand how someone can be invested in lucid and hold this stock.
    Something I have learned from the superinvestors is its all about protecting your downside and minimize risk as much as possible and the best investments are made on percieved risk rather than actual risk.

  15. Avataaar/Circle Created with python_avatars Adam says:

    You do not need a new camera. The picture is beyond good quality. Invest the money instead ✌️

  16. Avataaar/Circle Created with python_avatars Knoksvau says:

    4. I agree, i got some speculation investments and when they fall 20%-50% you start to get worried, on value stocks if they fall you just chilling becouse you sure they can grow back up , helps for mentality.

  17. Avataaar/Circle Created with python_avatars David Calvert-Smith says:

    Do you have a target income/net worth, etc. Or keep going for the thrill of the chase?

  18. Avataaar/Circle Created with python_avatars LondonNomad says:

    The last step is important, for me it's focussing on monetizing my gaming YouTube channel. Yes I will get more passive income over time but it might be $5 vs spending time thinking the long term with the blogging/finance channel

  19. Avataaar/Circle Created with python_avatars Jake Bennett says:

    Nice one again Sasha!

    To anyone who hasnt read 'the intelligent investor' Id go buy it regarding speculative vs investment.

    Thanks once again!!

    Jake 🙂

  20. Avataaar/Circle Created with python_avatars Brian Oliveira says:

    This is the video I meant to post on @sashayanshin THANK YOU for the framework you always give in your videos!

  21. Avataaar/Circle Created with python_avatars C K says:

    Brilliant Video! Some great advice….Keep'em coming but you'll have to top that one!!

  22. Avataaar/Circle Created with python_avatars Andrew Steel says:

    Seems odd to me that you’d attribute risks to crypto that exist in equity markets and use that as a rationale for avoiding them. Some are speculative in nature, yes, as are some penny stocks, but there are differences between scam ICO’s and fundamentally value driven crypto projects in the same way TSLA is a wiser investment than NKLA.

    I wonder how much thought you’ve given to the underlying blockchain technology that make crypto currencies possible and the myriad of economic possibilities that this technology creates?

  23. Avataaar/Circle Created with python_avatars George Cronin says:

    Sasha, you are starting to start to stare at the camera as if a reincarnation of a fellow RUSSIAN. RASPUTIN. Take it easy Man, lifes too short

  24. Avataaar/Circle Created with python_avatars pdpiper says:

    Mate, I think this was your best vid yet. Great stuff and plenty of food for thought!

  25. Avataaar/Circle Created with python_avatars Lucas J says:

    I have recently come to the conclusion that too much of my investment portfolio was speculative with risk that I had not calculated. A very humbling experience to accept that you’re out of your depth but glad I did so I can now start to rebalance my funds into ETF’s until I have the time to dedicate to properly understand valuing companies and assessing risk! I would urge everyone else to honestly reflect on if you really know enough to be investing into individual stocks. I feel like most people probably don’t!

  26. Avataaar/Circle Created with python_avatars Elliott Brice says:

    alright mate im 18 ive invested fair amount of my income in index funds.Would you recommed to try trading out and maybe something like amazon FBA to gain extra income.I know it takes time and effort to make this things work out in the end.Thanks for the help

  27. Avataaar/Circle Created with python_avatars Marcus Clifford says:

    Did you say you are making 17,000 USD from YouTube per month now? That is amazing given you < 30k subscribers and your view count per video looks to be about 10k average. Would be great to have a breakdown of that as it seems very much on the high side…

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.