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Why most people will always be fat and broke (and how to fix it) — Transcript

by Rajat Soni, CFA · 2,861 words · 385 segments · language en · Watch on YouTube

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0:00There are tons of parallels between
0:02improving your personal finances and
0:04improving your health. And in this
0:05video, I want to go into some of those
0:07and compare them to show you why it's so
0:10important that you track your calories
0:13as well as track your expenses. Let's
0:16get started. This is my budget
0:18spreadsheet. You can access it. I'll
0:20keep it in the description below or
0:22something. Uh but you can access this
0:24and you can put all of your expenses
0:25into it. You can put all of your the
0:27things that you want into it, the things
0:29that you're spending your money on, your
0:30savings and your debt. You can put all
0:31of that into this. But the reason why
0:33this is so similar to tracking your
0:35calories is because if you don't track
0:38your expenses, they'll probably get out
0:41of hand and you'll be spending more on
0:43things that you probably don't want to
0:45be spending money on. You'll be spending
0:47recklessly by accident. It won't even be
0:49on purpose because you don't know how
0:51much you're spending. You have no idea
0:53where your money is going. You don't
0:55know how much money you're getting. You
0:56don't know where your money is going.
0:57You don't know what you're doing with
0:59your income. Meaning that your personal
1:01finances will be completely out of
1:03control. And your net worth will
1:06probably end up being negative. Your net
1:08worth is the accumulation of all of your
1:10financial decisions that you made in the
1:13past. And if you keep making the wrong
1:15decisions, your net worth will go in the
1:16wrong direction, meaning that it'll go
1:19further and further into the negative.
1:21Your personal goals are a lot easier to
1:23achieve if you track your expenses. And
1:26this is the thing that most people don't
1:28want to do. I didn't want to do this. I
1:30when I first came across budgeting, when
1:32I first came across the concept of
1:34budgeting, I thought it was the
1:35stupidest thing ever cuz why would I
1:37ever want to track everything that I
1:39spend? I'm okay with spending on my own.
1:41I'm okay with intuitively spending
1:43whenever I want to, whenever I need to.
1:44I can go out to eat here and there. I
1:46can buy whatever I want whenever I want.
1:48and there's no need for me to pay
1:50attention to what I'm spending my money
1:51on. That was the mindset that I had. And
1:53I told you this a couple of videos ago.
1:54The decisions that I made with my budget
1:56had resulted in a negative net worth of
2:00minus $40,000. Now it's in the
2:03positives. I don't want to publicly say
2:05what it is, but let's say it's in the
2:07low six figures, probably a lot less
2:09than you had expected, and that's
2:11perfectly fine. I'm still working on my
2:12journey. It all compounds over time. But
2:15I'm doing much better than I was before
2:17because I tracked my budget. I tracked
2:21what I was spending my money on. I
2:23tracked where every dollar of my income
2:26was going for a little while. I didn't
2:27do it forever. I didn't do it since
2:292018. I only did it for a few months.
2:31And because of that, I learned, okay, I
2:33can't be spending money on takeout every
2:35single day. Maybe I need to limit it to
2:37once a week. Maybe I need to limit it to
2:39once every few days before. I'd be
2:42getting take out multiple times a day
2:44because your habits compound over time.
2:46You get used to spending your money. You
2:48get used to not having to cook for
2:49yourself. You get used to being able to
2:51buy whatever you want whenever you want
2:53it. I'm doing something very similar
2:54with my fitness journey. I'm tracking
2:56how many calories I'm eating versus how
2:58much I'm using. I'm tracking the workout
3:00intensity. Am I getting stronger? Am I
3:02lifting more over time? I'm trying to
3:04figure out how much protein I'm eating,
3:06how much fat I'm eating, and how many
3:07carbs I'm eating. The app that I'm using
3:09to track my calories in and out, and the
3:12macros is called Lose It. Something else
3:14that I'm tracking is the amount of fiber
3:16that I'm eating, and that's because I
3:18want to make sure that I'm full after
3:20eating. If I eat a lot of food without
3:22fiber, I'm not full. I've already
3:24noticed it for myself. If I eat things
3:26like sweet potato, then I feel very
3:28full. If I eat things like chicken
3:29thighs, I feel very full. doesn't
3:31chicken thighs don't have fiber in them
3:32but combined with the sweet potato they
3:35make me very full and then I add some
3:36toppings on top so let's say for example
3:38I'll make a bowl with uh salsa Greek
3:42yogurt chicken thighs sweet potatoes
3:45good seasonings that have low calories
3:47and after I eat those bowls I feel very
3:50full and I get all of the nutrients that
3:52I need out of a meal something else that
3:54I feel is that after I eat those bowls
3:56my workouts get a lot better because I'm
3:59getting all the nutrients that I need. I
4:01know a lot of you probably don't have a
4:03background in fitness. I don't either,
4:05and I'm just learning as I go, but you
4:07can see here, what does 100 calories
4:09look like? You can have 23 peanuts. You
4:11can have 14 almonds. You can have one
4:13tablespoon of peanut butter, nut butter,
4:15whatever kind of butter it is, one and a
4:17half eggs, like those large eggs, 25
4:20strawberries. You can have three cups of
4:23popcorn. One Reese's cup also has 100
4:25calories. So, let's say, for example, if
4:27you're eating 2,000 calories for the day
4:29and you have five Reese's cups, that's
4:31500 calories already. What are you going
4:33to fill the rest of your calories with
4:35that ensure you get enough protein,
4:38fiber, carbohydrates,
4:41fats, all of the energy that you need?
4:444 ounces of chicken breast also has 100
4:47calories. Eight cups of spinach also has
4:49100 calories. 3 oz of deli turkey has
4:52100 calories. One slice of bread. 2/3 of
4:54a cup of cereal. Eight Doritos. Eight
4:56Doritos have 100 calories. Who sits down
4:58and eats eight Doritos and stops? I've
5:01never been able to do that. I don't plan
5:02to do that. I think I can probably eat
5:04half a bag of Doritos easily and I don't
5:06even realize it. Another one here. A/4
5:09cup of cheddar has 100 calories in it.
5:12So, my goal is to eat a lot of foods
5:13that are not very dense in calories,
5:16meaning that they don't take up very
5:18small amounts of space, but have high
5:19amount of calories. I don't eat foods
5:22that are just purely fat. And I'm not
5:25saying that it's a bad thing for you.
5:27It's just that I don't feel full after
5:28eating them. So in the budget example, I
5:30was buying things from Amazon that I
5:32didn't really need. And part of my
5:33budget was going towards those things.
5:35Meaning that I couldn't spend it on the
5:37things that I actually needed. In
5:39physical fitness, let's say, for
5:40example, I have a 2200 calorie budget.
5:42That's my budget right now. 2200
5:44calories. If I were to eat five Reese's
5:47cups,
5:49that's 500 calories right there. I only
5:51have 1,700 calories left for myself for
5:54the rest of the day, which is probably
5:56not enough to keep me full. But that
5:58doesn't mean that you can't have any
5:59Reese's cups. It just means that you
6:01have to limit how many you eat. Let's
6:03say, for example, instead of having
6:04five, you have one. You use 100 calories
6:08or about 5% of your daily budget for one
6:10Reese's cup. And the rest of it is going
6:12to be better foods, higher quality foods
6:14like chicken breast, chicken thighs,
6:16sweet potato. I really like eating
6:18avocado because it has a ton of fiber in
6:20it. Greek yogurt is really great because
6:23it's good for your gut health. Things
6:24like kimchi are great. I don't follow
6:26fat diets, for example. I don't cut out
6:29all my carbs and only eat fat and
6:31protein because carbs make you feel
6:34good. Carbs give you energy. If you go
6:36to the gym and you don't have any carbs,
6:38you're probably not going to be able to
6:39lift as much as you would if you did
6:41have carbs in your diet. Just like
6:43personal finance, I do think you need
6:44some balance in your diet. If you don't
6:46enjoy your life, if you spend all of
6:48your money on just saving for the
6:49future, what happens if you die early?
6:51You have no idea how much time you have
6:53left on earth. What was the point if you
6:55didn't spend any of your money on the
6:57things that you actually enjoy? Same
6:59thing with physical fitness. What is the
7:01point of reducing your calories, trying
7:03to lose weight, trying to become
7:05healthier? If you actually hate your
7:07life, what is the point of that? If
7:08you're cutting out all the things that
7:09you love, what is the point? And I'll
7:12show you an example of what I mean here.
7:14Yesterday I over ate just a little bit,
7:17but I did exercise quite a bit. I was
7:20active for a very long time. I spent a
7:23long time outside. I was walking. And
7:26you can see here, I ate 2,700 calories.
7:28I was 57 calories over. But keep in
7:30mind, my 2200 calorie budget is probably
7:33a deficit of over 500 calories because
7:36of how active I am. And you can see
7:38throughout the day what I ate. I had 218
7:40g of protein. My goal was 170 g. I had
7:43carbs 242 grams. My goal was 200 gram. I
7:47had 99 grams of fat. My goal was 80
7:49grams. And I had 42 grams of fiber out
7:52of a goal of 32 g. The reason why fiber
7:54is so important is because it keeps you
7:57full. And if you were to eat Doritos, it
7:59has no fiber. All it has is carbs and
8:02fat. This is what I ate all day. Ignore
8:04the meal name. I didn't eat ice cream
8:06for breakfast. It was at the middle of
8:08the day. But this is what shows you that
8:10I'm still eating what I want to while
8:13maintaining my health, my physical
8:15health. I actually lost a little bit of
8:16weight this morning, probably water
8:18weight, but that's irrelevant. The point
8:19here is that I'm still eating what I
8:21want to. And I'm also adding foods that
8:24are important that are actually helping
8:26my body to sustain itself. Freerun,
8:29white eggs. I had some baby bell cheese,
8:32ice cream, vanilla ice cream, keri
8:34dates, peanut butter. My goal is to
8:36limit the calorie dense foods that don't
8:39have all of the nutrients that I need,
8:41but there are some foods that have a lot
8:42of calories that still have the
8:44nutrients that you need. For example,
8:45dates have a lot of fiber in them.
8:47Avocados have a lot of fiber in them.
8:49They're really good for keeping my gut
8:51healthy. The eggs have a lot of protein
8:53in them. I also had organic ground beef.
8:55My goal is in the future to decrease the
8:58amount of fat that's in the ground beef.
9:00I'm probably going to go with something
9:02like 96 or 92%
9:05lean instead of 85% lean. I didn't
9:08actually look at the percentages before
9:09I bought them. The meat that I had in
9:11the freezer was from before I started
9:13this diet. So, I'm just trying to finish
9:14it up and then going forward, I'm going
9:16to eat more of the cleaner beef. Next
9:20one here was sweet potatoes. I had 121
9:23grams of sweet potatoes. And if we open
9:25this up, you can see how much uh what it
9:27has in it. So, you can see here 3.6 6 g
9:29of fiber, 1.9 g of protein. I've been
9:32having a lot of Greek yogurt because
9:33it's very filling for me. It has a lot
9:35of protein in it. I've been mixing it
9:37with protein powder, honey, almonds.
9:40I've just been eating it almost like a
9:41dessert. It tastes really great and it
9:42has the right macros in it. This was
9:44part of a bowl that I had. So, you can
9:46see here it had ground beef, sweet
9:48potatoes, Greek yogurt, salsa, oil,
9:51beans. I added a little bit more ground
9:53beef after I added a little bit more
9:54salsa after. I added some kimchi to it.
9:57And then after that, I had a snack. I
9:58had a clementine. I had some honey. I
10:02mixed that in with almonds, Greek
10:03yogurt, and protein powder. I also had
10:06another burrito bowl at the end. It had
10:08pinto beans in it. It had chicken
10:10breast. It had sour cream. Actually got
10:12it from Burrito Boys. I calculated all
10:15of the calories that I thought it would
10:16have. I think having an approximate
10:18number is better than not tracking at
10:20all because I know for a fact that if I
10:22don't track, I can literally eat like a
10:24pig. I can eat whatever is in front of
10:26me and I can finish that meal. I don't
10:28really care how many calories it has. I
10:30will eat until I can't walk anymore.
10:33That's the way that I normally am. And
10:34that's what got me to 25% body fat. I've
10:37noticed that before I wasn't eating a
10:39lot of foods with fiber in them and
10:41that's exactly why I wasn't feeling
10:42full. Now I eat a lot more fiber. And
10:45because I eat more fiber, I'm feeling
10:47more full on a day-to-day basis. This is
10:49exactly the same thing as your personal
10:51finances. If you spend your money on
10:53stupid things that you don't need to
10:55spend your money on, that you don't
10:56really care for, you don't really value,
10:58you're not going to have enough money to
11:00spend on, let's say, vacations, you're
11:01not going to have enough money to spend
11:03on your kids, on extracurricular
11:05activities for your kids, you're not
11:06going to have enough money to spend on
11:09your home. When it comes to spending
11:11money on, let's say, repairing your car,
11:13you won't have the funds to do it
11:14because you spent all your money on
11:16stupid like buying widgets on
11:18Amazon. This is exactly the position
11:20that I was in. I would cut out my
11:23expenses on the things that I needed and
11:25I would put more of my expenses into the
11:27things that I wanted. This is exactly
11:30like if I were to eat 2200 calories
11:32worth of Reese's cups. I love Reese's
11:34cups, but I know that I have to limit it
11:36because they are very high in calorie
11:38and they're not really too good for my
11:40body. Having a limited amount is fine,
11:42but having too much is eventually going
11:44to kill me early. I got a lot of
11:45comments in my last video saying that I
11:47should follow keto, that I should follow
11:50carnivore, but none of those are going
11:52to work for me because I can't sustain
11:54them over the long term. My goal isn't
11:55to lose weight in the short term. It's
11:58to get rid of the excess fat and to have
11:59a functional body that I can rely on for
12:01the rest of my life. Personal finance
12:03and physical health are so similar
12:05because most people don't want to track
12:07their calories. Most people don't want
12:08to track what they're spending their
12:09money on. They just want to live
12:11intuitively. They want to spend their
12:12money on whatever they want to and at
12:14the end of the month they'll deal with
12:15whatever consequences they have. It's
12:17exactly the same with your physical
12:18fitness. With your bank account, at
12:20least you have a bank account that will
12:22show you that, oh, you're in the
12:23negative and you can't spend more.
12:24Whereas with physical fitness, you see
12:26people getting to 600 lb and they want
12:28to continue to eat. They haven't taken
12:30the hint that they are eating way too
12:32much food. With physical fitness, you
12:34have to be very aware of what you look
12:36like. You have to be very aware of your
12:37weight. You have to be very aware of
12:39your love handles. You have to be very
12:41aware of your belly. Most people aren't.
12:43Most people think that they're fit when
12:45in reality they're not because it
12:47happens slowly. It creeps up on them.
12:49It's just like lifestyle inflation. If
12:50you keep eating like you're going
12:52to look like Garbage in, garbage
12:55out. You can't expect to look and feel
12:57better after you spent your whole life
12:58eating garbage. Same thing with personal
13:00finances. You can't expect to have a
13:02positive net worth if you spent all of
13:04your money on things that you don't need
13:06and you don't really care for that don't
13:09have any value in your

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