YouTube Videos/Why i haven't paid my mum back yet... [BMi6beanPYc]

As some of you may know, I owe my mum quite a lot of money, about £19,000, mainly because she helped me pay my tax penalty and she helped me pay for my car. And recently I've been making about £4,000 a month on Kick. So thanks to Kick, I've actually been making some good money. And you might be

wondering how come I haven't paid my mum back a single penny yet. And there's a good reason for this, and I decided to explain it in today's video. First of all, even though £4,000 a month seems like quite a lot, and don't get me wrong, it is quite a lot, I've only been doing Kick for about 3

months now and I've made about £10,000 to £12,000, and my expenses here are roughly about £2,000, including rent, utilities, food, and other random bits and bobs I buy online now and then. So after deducting expenses and everything I spend, I've only got about £2,000 left over each month, which means in total I've only saved about £6,000. And

what have I done with that money? I've actually put it back into my stock market portfolio. I've started rebuilding a stocks and shares ISA. And the reason why I haven't just given that £6,000 straight to my mum, wiping out a huge amount of money I owe her, is mainly because when you live alone

I feel kind of financially insecure. I feel like to feel financially secure, I want a £10,000 safety net. And if I just give all the money straight to my mum, if there's some kind of disaster or calamity or crisis where I have to shell out a lot of money, I then don't have the money to be able

to get myself out of a prickly situation. There would be no point giving all the money to my mum and then something happens like I need to move out and get a new house and pay a deposit or upfront rent, or something happens to my car and I have to shell out thousands of pounds to fix the

car when I don't don't have any savings, I'd end up going back into credit card debt or overdraft debt. And I've only just recently managed to get myself out of credit card debt and paid off all of the overdrafts. So I feel pretty proud of myself for doing that. And I don't really want to get back into

a situation where I'm using my credit cards again. So I want to be able to create a buffer, like a safety net of savings, so I don't have to go into overdraft and pay all this expensive interest. Also, I'm kind of constantly in fear of getting kicked out or evicted from my house. So if I wanted to

get a new house, I would want to rent a place similar to this, which would also cost about £800 or £900 a month. And in order to pass the requirements, the income requirement checks to get a place like this, I need to have an income or a salary of about £27,000 a year. I don't make that or

haven't made that in the past. I haven't made that currently yet, even with Kick earnings. So to be able to pass the requirement checks, I would need to make whatever I make plus top up to the amount of about £27,000 to be able to rent a place that costs £900 a month. So I would need about £10,000

in savings plus what I currently make to be able to pass the income check to rent another house similar to the one I have. So in case I do get evicted, I really do need £10,000 cash to be able to add to my current income. You might be thinking, why am I even still living here? And if

I get kicked out, why would I rent another house instead of just moving back to my mum's house? If I moved back to my mum's house, I wouldn't have to pay rent anymore and I'd be able to save up a lot more money a lot quicker. Well, the reason is because me and my mum just don't really

get along. And every, it's every 3 months, I think we have a massive fight and it usually results in me storming out and getting on a plane flying off to Asia, or like in 2021, I went to Manchester and lived there for a bit. So I just cannot really live with my mum for very long before I

storm out again. And then I'll just end up in the same situation where I need to rent a place, or I'd be in Asia living in a crappy place, shedding out thousands of pounds every month just so I could get away from her. We just don't really get on well. If I was back home, all I really

want to do is just be left alone so I could make money, so I could make my videos, do my streaming, do my stock stuff, in peace. I don't want to be disturbed. I don't want people coming up to me and picking fights with me. But for some reason, she always seeks me out to have a fight

and start an argument. I never start any of the arguments. I just keep myself to myself. I'm in my room nearly all day long. I only come downstairs to make food, to go down to the kitchen, and watch news on Channel 4 at 7 PM with Krishnan Guru-Murthy. But for some reason, she keeps trying to pick fights

with me, and it's really fucking annoying. So for that reason, I cannot go home, because in a few months' time, it will just end up in another fight with me storming out again, wasting thousands of pounds. And it cost me thousands of pounds of credit card money to get here and set myself up a life here. I

have nearly maxed out— I mean, I did max out my Amazon credit card, and I had thousands of pounds in credit card debt on my second credit card. And it took me half a year to climb out of credit card debt, and now I'm in positive cash flow. So I don't really want to ruin all that and

ruin all my hard work by going back home only to storm out again in a few months' time, which is inevitably going to happen. So here's what I've done with my £6,000 of savings I've managed to accumulate from nearly 3 months of streaming on Kick. I've opened a new Trading 212 Stocks and Shares ISA, and I've put

all my money into that. And if you use my referral code, you can get some free shares, and I also get some money for inviting someone to Trading 212. So it's win-win really. I'll put the link in the description below. And I put all my money into that because number one, you get to invest £24,000 a year

tax-free. You don't have to pay any capital tax gains. And also, if you have uninvested cash, you get 4% interest that gets paid out daily. So I currently have about £6,000 in my Stocks and Shares ISA, but £3,000 pounds of it is already invested, and I'll show my portfolio in a minute. It's not really that interesting, but

basically what I'm going to do is I didn't buy stocks with all the money yet. I'm basically just going to slowly drip money, feed money into the markets over the coming months instead of just buying it all at once, which is very risky. I'm going to dollar cost average and spread my risk out over the year and

eventually have a fully built out portfolio by the end of next year. And whilst I'm waiting to buy stuff, my uninvested cash accumulates 4% interest a year, which gets paid out on a daily basis. You might be thinking, oh no, not stocks again! Didn't you lose £15,000 trying to invest in the market a couple years ago? And

yeah, that's correct, but I was very stupid back then. I've learned a lot about investing over the few years that have passed, and I'm definitely not going to put all the money in just 2 stupid meme stocks or penny stocks. I'm buying ETFs and commodities like gold and XLF, which is the financial sector of the S&P 500.

So I'm focusing all my money into only 3 parts of the market, one of them being the S&P 500. So my risk is spread out very well, and these are not meme stocks or penny stocks which I was YOLOing into back in 2020. And I'm pretty confident that this time next year, or this time in 2 years,

the market will be a lot higher than it currently is. So putting money into the market now will give me more money over the next year or 2 compared to if I just kept giving the money straight to my mum, where I don't get compounding and I don't get to build up a stock portfolio. So what I'm

going to do is I'm going to try and build up a £10,000 stock portfolio. I'm nearly there. I'm currently almost at £7,000. I think at the end of this month I'll be about £8,000, and then end of next month I'll be about £10,000 in savings. So after I've accumulated £10,000 in stocks and savings, I would feel a

little bit more financially secure, and then I might consider sending a couple hundred pounds to my mum every few months, or maybe every month. So once I have £10,000 in stocks, I guess I could give the whole £10,000 to my mum, but I think that would be a bad idea because you shouldn't really be selling your entire

portfolio just to pay off a zero interest loan, 0% interest loan. So what I'm going to do is I'm going to pay her probably $500 a month once I've established the $10K safety net. So to my— according to my calculations, I will have her fully paid off probably by 2029. And that's kind of assuming this Kick money

lasts for that long. I don't really know how long the Kick money is going to last. So that's another reason why I don't really want to give all the money away, because this Kick money could dry up at any time. I might lose it, or my viewership go down, or the monthly payments from Kick will go down.

You just don't know really what's going to happen. There might be a calamity coming up in the future that I need to prepare for. Also, I've got to pay taxes. If I'm making £3,000 to £4,000 a month for the coming next few years, I'm going to be making nearly £30,000 to £35,000 a year. And when you make

that much money, you're going to have to pay quite a lot of taxes, around £4,000 in taxes. So I need to set aside some money for taxes because I really don't want to get in trouble with the tax people again and get penalty and get in trouble. I made a stupid mistake back when my YouTube was doing

well and I didn't pay my taxes properly, and they gave me a penalty plus overdue interest payments of up to nearly £15,000 in total. And that was really a stupid mistake that I would really not want to make again. So you might be thinking, what is my ultimate financial goal? What is the end goal? I kind of

want to at some point be able to buy a house or at least get a mortgage. Unfortunately, it's kind of tricky getting a mortgage when you don't have a proper job. So what I need to do is have a big chunk of savings so I can put down a big fat deposit. I'm thinking $50K, $60K deposit will

get me a place that's like $100K or $150K, and then the monthly repayments shouldn't be too bad. The hardest thing about it is getting approved for a mortgage though. So that's the biggest challenge. And the reason why I want to buy a house is because number one, I'm kind of fed up just randomly traveling to Asia where

It leads to nothing. I've randomly traveled to Asia for the last 15 years of my life, and it's basically resulted in nothing. I have nothing to show for it. No property, nothing really. So I'm kind of done with that part of my life. I wanted to settle down and put down foundations in the country I was born

in, where I don't have to worry about things like visas, where I do have the luxury of being able to get a job as a last resort if I have to, and I don't have to rely on some woman to be able to live with, to have a home, which is the situation I kept finding myself stuck

in traveling to Japan, Thailand, South Korea, stuff like that. So I am thinking more about— because, you know, I'm 36 now, I'm getting old, I'm not really in my 20s anymore. I need to start thinking about the future and retiring in old age. And I just don't really want to be 50 years old and have still nothing

to show for it and just more failed relationships that end up going nowhere. I want to be able to have my own home So I can get a cat. Right now I'm renting and I'm not actually allowed to have pets. I'm trying to ask the landlord if I can get a pet, but he's not replying and it's

kind of annoying to have to, have to ask permission to do something as simple as just getting a cat. I feel like recently I've kind of changed a lot. Maybe it's growing up, but I'm getting more and more interested in buying some crappy rundown house and fixing it up, even though I have no idea how to DIY

or fix anything up. I'm sure it can't be that hard and I can just look stuff up if I do need help. So I think it could be interesting. Especially if I make it into some kind of content. If I just get a cheap rundown house and then I try my best at trying to make it nice.

I guess it does kind of suck for my mum that it's going to take such a long time for her to get her money back, but that's kind of the cost that she's going to have to pay to get rid of me. If I keep coming back home, I'm never going to build myself my own home or

establish my own life independently, and I'll have to keep going home and we'll just keep fighting. So if she wants me to have the best shot at establishing my own life, unfortunately I am going to have to think about my own financial security and put that first before paying her all the money back. And I will pay

off her money slowly over the next coming years, but it is going to take time. And I guess that's just the price you have to pay. I've kind of been slacking off with making videos because I've been focusing on streaming on Kick, but I realized I can actually just make videos whilst I stream on Kick. So I'm

going to start making videos every day if I can, if I can find topics to talk about. And I've kind of messed up my channel recently, as you have noticed. I'm going to probably restore it back to how it was, minus all of the cringe embarrassing videos that make me look kind of bad. I think maybe to

start off my new chapter and a fresh start in life, I kind of want to put all that old stuff behind me and get rid of it. It's not permanently deleted. I've just privated it because I just— I don't really like the way it reminds me of the past. And I've made a lot of mistakes in the

past and I kind of just want to close that chapter of my life now and move on to something fresh. I think Mentally, it's good for me because it's not always there staring me in the face.