Few economists were able to predict the crisis we are experiencing. Few politicians spent less than what entered the public coffers under his management in times of economic prosperity. Today I bring you a video of two elderly people from Soria without studies that give a masterful lesson in common sense that is worth listening to. I have already seen it a few times, and I think it could not be clearer. I think I have never seen any video that better reflects my opinion on how we should manage our personal finances.
The video of Isidro and Moisés
First of all, it is worth noting that this video was recorded in 2.007, during the real estate boom, which hardly anyone saw coming. Here we have 2 people who are the exception to the general rule.
This video has become popular on the internet for predicting the crisis we are experiencing. However, what I want to highlight about him is not this fact, but his common sense lessons. It's hard to see so much concentrated wisdom in just 5 minutes. Let's see the video:
Makes you want to clap your hands until your hands bleed, right? From this video we can get at least three great lessons.
Lesson 1: You can live well in an austere way
“Now you live well. What happens is that people don't conform. (…) I live better than ever. (…) I collect 80.000 pesetas, more than in my entire life. " (Moses)
Lesson 2: Beware of Debt
“Young people ask for 40 million for a flat and it is believed that 40 million come out of the cap. And then, since they don't pay it, to the embargo! This is going to end very badly. ”(Isidro)
"If I don't have it (the money), I won't buy it" (Moisés)
Lesson 3: Save a Good Chunk of What You Earn
“You don't need to study economics. The man who earns 5 dollars spends 1. The economy is there. But if the man who earns 5 dollars spends 6: the economy has already screwed up ”(Isidro)