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Learn business, financial, and investment concepts. And the mindset that will help us make decisions. To become even smarter, today we'll talk about... Important lessons from Warn Butcher's philosophy: A legendary scholarship provider that emphasizes critical thinking. It is reasonable to understand what is being said.
Capital and not letting social trends control you. Have we ever made a decision based on what we see in people? Others bought shares in a company and made a profit, so we do too. I wanted to buy one too after hearing people talking about it. There are some assets we're afraid we might miss out on. A significant opportunity arose, and ultimately, I decided to invest.
They do n't even understand what they're buying. What is its value? It's a thought-provoking fact. It doesn't mean that a large number of people are buying. That means it will always be a good investment. I went because the market was full of emotions, greed, and... Fear and expectations are constantly changing.
If we rely on other people's decisions... Our financial compass may need... Facing risks we never understood before. Today we will take you to learn why. Therefore, we shouldn't buy something just because others are buying it. Thinking for yourself is more important than following trends. How can we train ourselves to make rational decisions?
Be disciplined and recognize the true value before committing. Because in the world of investing, those who are successful... Long-term success doesn't necessarily mean being a good person. You can run as fast as others, but you have to be the one who's fastest. Knowing what you're doing, understanding the situation.
Take risks and stand up for your own reasons. I invite everyone to listen to today's lesson. Let's be prepared and don't forget that our money is our future. So, we need to address topic number 1: Just because everyone has it doesn't mean you have to. You've probably walked past the store... There was a long line of people, and I accidentally joined the line.
I went there without knowing what they were selling. I believe that. Almost everyone has seen a long line in front of a store. One of the most powerful marketing tools. The best in the world, and it doesn't need a single penny for advertising. Let's imagine this: On Street 1, there are two snack shops next to each other.
The first shop is overflowing with customers. Until you have to stand and wait outside the second shop, which is finally empty. You can hear the fans spinning. Which shop would you choose? Almost everyone... Everyone chose the first shop without thinking. We automatically interpret that a lot of people means it's delicious.
In reality, the first store might have just opened recently. Was it because of the delay, or simply because there were so few seats that people had to stand and wait? There might even be people hired to stand in line for you, psychologist. This phenomenon is called social proof, or evidence that humans are social animals.
In the era when our ancestors still walked the forest, Staying in groups is a survival mechanism if everyone runs. If you go to the right, you go ahead and run because the person... Stop asking why you might get eaten by a tiger; this instinct is embedded in our DNA for hundreds of thousands of years, but the problem is...
These days, there are no tigers in shopping malls. The only thing available at the store is a credit card. Promotions and salespeople who understand the instincts of... You are better than you think. Take a look at that sentence. You often hear phrases like "bestseller," " sales exceeding one trillion units," or "last piece remaining." Anyone can use it; it doesn't have to be present in every sentence.
So, it tells you whether the product is good for you or not. It's just that other people bought it, and those other people... The act of paying respects might lead to a completely different life for you than for someone else. Different levels of needs result in different problems. I'd like you to think about running shoes.
The expensive price that everyone in the office talks about, according to their colleagues. Someone bought the item and posted pictures of it on social media. Along with the caption that it changed two other people's lives, they bought it too. By the third week, you start to feel the difference. You say your feet are outdated even though you're the one running.
Once a month, and your old shoes are still usable. I'm comfortable, but the feeling of being left out is still gnawing at me. It captivated me silently until I finally clicked to order. It was nighttime, and the new shoes sat in the box for three months before they would finally get to experience the real world of knowledge.
This condition, known as FOMO or phobias, is a serious health problem. Missing out on what others have isn't your fault. The real demand for the product is not due to... I'm afraid I'll feel like an outsider if we get rid of FOMO. From the equation, the remaining question is very simple: Even if nobody buys this, I still want it.
If the answer is no, it means you don't want it. With that item, you want it to feel like a personal piece. One of the separate groups should consider the owner. Smart shops know how to create an image. Products that look good are more expensive to make than good products. It's true, some stores only display a few items on their shelves.
To make it look like the store is almost out of stock, some shops hire [something to sell]. People lined up in front of the store when it first opened. Brands give away products to influencers so that your feed is flooded with the same product until you... It feels like I have the whole world in my hands.
This is not illegal and it's not a lie, but it is. A staged event that directly manipulates your mind, I don't... They said not to buy things that are popular. Many popular items are indeed good and many people buy them. Because it's truly worth it and works well, that's the point. It depends on the order in which you decide to start.
Based on my own needs, I found that the product... The most popular and suitable choice is... It's clever, but only if you start by seeing other people buy it. Gradually find reasons to explain why you need it. That is being led astray by someone who thinks they are. People choose to try a simple method I call "3- night pressure" when they see something they want because of the hype.
I just bought it. Keep the product name in your notes and wait 3 nights. On the third night, ask yourself three questions: First, have I ever thought of it without anyone mentioning it? Second, will I use it within a week? Third, even if the price doubles, will I still want it? If you can answer all three questions correctly, it means you want it.
You can definitely tell the media freely, but if you answer no... Getting even one symptom indicates that the desire has disappeared. With this trend, you can save money by... There's nothing to lose, and most importantly, peace of mind. A person's worth isn't determined by having the same things as others.
It's not about anything else, but about knowing what you want. What will a person who knows themselves well do when walking through a long line? Next time, visit the store without feeling like you missed out. He went there because he knew what he wanted. It's not sold there next time you see it. People in long lines should pause for 5 seconds and ask...
Whether I want this or I want to be like... People who are waiting in line for your answer might be able to help. Save more money than any other promotion in the world. Topic 2: A closet full of nothing. What goes around with trendy, cheap items that you'll just sleep with? Open your closet now and take a good look.
I'd bet at least one-third of the items hanging there haven't been worn more than three times; some even still have their tags attached. A pastel-colored shirt I bought because it was trending two years ago, and new pants that looked good on the model but I don't. That thick jacket you bought suits your body perfectly.
Because influencers look cool wearing it anyway. The city you live in is never cold enough to need a closet. Clothing is a museum of the desire to emulate others. Other things are our own, but it's not just clothes. Then try walking into the kitchen and opening the bottom cupboard. You will see... I found an air fryer that I'd only used for the first two weeks, and a yogurt maker that I bought recently.
The health trend has brought high-speed blenders to the forefront. Japanese knives are so difficult to clean that I don't even want to take them out. The expensive item is used only for slicing and decorating, more so than any other part. There was an exciting and engaging purchasing story. The sad ending is the same for all of them: keep it.
Let's keep this in mind, just in case Thailand has similar terminology from the financial world. What I personally like most is the cost per use. Let's think about this: If you buy a bag for 12,000 baht and use it once a day for 3 years, the cost per use is less than 11 baht—cheaper than a cup of coffee.
But if you buy a pastry maker for 3,000 baht and only use it twice, the cost per use is 1,500 baht—expensive. It's even better than buying desserts from fancy shops. Currents often have very high operating costs because... The excitement always fades faster than we think. Why is that? The answer lies in nature.
The joy of buying something happens in the act of buying it. So it wo n't be when I've received it, but during the waiting period for the package. Opening the box, taking photos to post on social media, releases brain fluid. Dopamine levels are highest when anticipating the arrival of the item. It 's in our hands and has become commonplace.
The excitement subsided, and we returned to looking at the funny piece. This cycle will never end if we keep buying. Because I wanted to feel excited instead. Consider whether you're buying it for actual use. A picture of the room of someone who got caught up in the minimalist trend and bought it. The original item replaced the old one; they discarded the old one.
It works well, I bought a white shelf and storage boxes. Ten identical items and basic colored utensils. The result is a room that looks beautiful in the pictures, but... He lost more money than he ever had because of a lot of lost items. Here 's another funny paradox: even... When buying pressure decreases, the items are sold to us.
Another aspect of the product that people often overlook is the floor. Each purchased item must have an address. When the house is full, there are people to wipe down, organize, and clean. We need to rent a larger room or storage space. That increases, which means you're paying rent. Monthly payment to allow unused items to lie idle.
Just consider the actual cost of that air fryer. It's not just the price you pay at the store, but also the floor cost. In the kitchen, time is wasted searching for things in the cupboards. The mess and the guilt I feel every time I see it. There's a simple check I recommend, called the 1-in-1 test.
Before buying something new, ask yourself: I already have something that serves the same purpose. Or not, and if I buy this item, I would be happy to... Let the old piece go if the answer is no, I'm not happy to translate it. It means you don't really want something new, you just... I'm accumulating more cool vibes at home.
The technique is to buy after you've used it once, instead of buying again. The latest trendy clothes are instantly fashionable, try borrowing some. A friend rented it or tried it on in a store once. Ask yourself how many real-life situations in the next three months I'll actually be wearing it, if I can think of any.
If it doesn't come out even once, just let it go, and if it does now... You have items you bought because they were trendy, and now they're just sitting there unused. The house is full, don't blame yourself too much for this. It happens to almost everyone; the only thing you can do is change it. Are those items lessons to be resold or donated?
Use it seriously at least once, and then make a note of it. What questions should we ask before making a purchase next time? A good wardrobe isn't measured by the number of pieces it contains. But it's measured by the proportions of what we can put in. With confidence, a good home is like that every day.
It's not measured by modernity, but by when. Once you walk in, everything inside makes a reason. This will be covered in topic 3, "Behind the Scenes of Bestselling Products." And positive reviews you may not have seen before. Have you ever felt that after a while, the screen fades? Everyone seems to be using the same product, the cream.
A brand of sunscreen, a flavored drink. One particular style of bag has appeared repeatedly from... So many people and so many accounts that you become completely convinced that it must be... That would be great! I'd like to invite you to take a look behind the scenes. That's done calmly, not to create hatred.
The market is here to help you become a knowledgeable buyer, starting with the world of reviews in an era where everyone believes them. Reviews are more than just advertisements; they make reviews seem like... These are opinions from real people, which is why it became a job. It has high value, and some reviews come from customers who...
It's actually usable and feels good, but there are other reviews as well. Many types are mixed together, such as reviews from those who have received the product. Get a free discount in exchange for posting a review at the store. Thank you for giving a 5-star review written according to the rules. And reviews that were hired to be written in batches without...
Having used the product before, it's difficult for consumers like us to distinguish between them. More than just which one is authentic, imagine a live stream selling something at 10 PM; the host is speaking fast and nervous. There are only 12 pieces left to dance to. There's a message on the screen.
The number of viewers is steadily increasing, and there's an alert sound. Someone has already ordered the countdown clock. A red flash means you feel your heart beating faster. It's like competing against a stranger you don't know. I've seen every element that was designed that way. You make decisions faster than your rational brain can.
Keeping up with the rush is the enemy of thinking and of people. Salespeople know well that the question they should ask is, "What are those numbers?" How accurate are the viewership figures on some platforms? This might include people who just left their stock open. " Low remaining" is sometimes just a message that's been set.
It might just be a system display showing that it was pre-ordered and someone already bought it 3 minutes ago. It's random; not every store does this, but knowing is key. There are techniques like this that can help you slow down. Another heart-pounding moment before clicking the purchase button. The interesting thing is the effect of algorim when...
You click on the product once and the system will send it to you. If you see the same thing 10 more times, you'll mistakenly think it's a global trend. Actually, it's just a trend in your feed. Another friend who is interested in other things might never have. You can see the product right away; this optical illusion makes it seem that way.
We feel that everyone has both truth and falsehood. Perhaps less than 1% of the population uses it, so what should we do? I have three practical techniques for reading reviews. First, read 3-star reviews before 5-star reviews because neutral reviews usually only mention the positives. And the second real drawback, see what the reviews say.
Are there any specific usage details? Positive reviews will state what it was used for and for how long. I encountered a problem with the reviews that were only written as "very good." Fast shipping is impressive, this might apply to any product. Regarding point 3, check reviews after using the product for several months.
The month is good because many things are fine in the first week, but... It broke down in the third month. Also, try separating the people who gave the advice. I led you astray because I wanted you to do better, away from the person who recommended it. Because receiving compensation doesn't mean that the person receiving it is the one who gets paid.
The response will always be a lie, but his motives are different. From a friend who got nothing in return. If an influencer recommends 10 products a month as the best, we should probably question that. I'd like to ask if he actually used every single item. We recommend researching potential negative aspects before purchasing a product.
The price is high. Try typing the product name followed by the word... Is it worth the downside or the downside? Read what people think. What he was dissatisfied with was sometimes a problem. Those things have nothing to do with you, but sometimes... That perfectly addresses your concerns. Doing this only takes 5 minutes but saves you 1000 baht.
Finally, let's go back to the question. Most basic, what problem do I have with this product? It can be solved if you can't think of anything, it means the product is currently being searched for. The problem isn't that you're looking for a product to solve it. That's the problem, and that's a clear warning sign.
Ultimately, you're buying because of other people, not because of others. Because the online world provides me with more information. Previously, there was already a lot of organized information. It used to be the case that a smart buyer isn't someone who... I do n't trust anyone, but I am the one who knows what I should trust.
How much and what should you check before believing something? (Topic 4: When investing with friends becomes a costly lesson) This expensive article contains general information to create... Awareness is not financial advice or guidance. I am not a financial advisor when it comes to investing; my decisions are not financial advice.
Investment decisions should depend on each person's individual circumstances. Imagine a class reunion with friends. An old man recounted, with a sparkle in his eyes, that he... I bought an asset three months ago, and now it's almost doubled in value. Two of my friends nodded and said they bought the same thing.
I'll have you sit and listen quietly while I show you the savings in the account I'm giving you. The meager interest rate is starting to look like a crime. If you miss the deadline within the following week, you can transfer the lump sum. Keep some aside for emergencies to buy at that price. It's many times more expensive than when my friend bought it.
Stories like this happen over and over again in... Every era since the tulip market in... The Netherlands 400 years ago. [stockbubble.com] From real estate bubbles to assets. The volatile nature of digital technology makes it almost impossible to predict the outcome. As always, it starts with a small group of people.
The news of the profits spread, and the general public began to take an interest. Prices soared, and people who had never invested before rushed into the market. Because they were afraid of missing the train, and only the last person was ready. Once we bought them, there were none left to buy. Prices then started to fall.
The interesting point is the period when... Everyone usually talks about it when the price goes up. It's a long way off, and most of the people who made a lot of profit have already gotten in. Before anyone talks about those who went in when there were people... Everyone's talking about it, but it's usually people who bought it at that price.
The most expensive doesn't always mean it will end well. That's true, but history reminds us that... Public excitement is not a reliable signal. It's considered a good buy. In psychology, there's something called herd behavior, or "group behavior," which arises when you observe the people around you.
The pain of not doing what he does. It's even more serious than losing money on your own; there's a saying... In the investment world, it's said that people are willing to accept losses. Joining forces with others is better than missing out on the profit when... Everyone got there because they made the same mistake as a group.
It feels like it's not our fault. Imagine two people buying the same asset... On the same day, the first person had already studied it and knew that it was a scam. What is this property? What are the risks involved? How much money is needed? The second group, those who are risk-averse and intend to hold for the long term, bought because a friend bought it, without knowing anything about it.
How to make money and how to spend the money you intend to use. Use it to pay your child's tuition when the price drops by 30%. The first person might sleep soundly knowing their plan, while the second might not be able to sleep due to deciding to sell. The lowest point was due to shock and becoming the loser despite everything.
The same asset may recover later. The difference isn't in the assets, but in... There are questions regarding the buyer's understanding and plans. It's a simple question I want you to ask yourself before you take the money. Regarding what others have said, firstly, I can explain to a 12-year-old how this makes money.
How is that possible? If you can't explain it, it means you haven't yet. I understand point 2: If this money disappears... What would my whole life be like if the answer was...? Being very worried means it's not worth the risk. Regarding point 3, did I buy it based on my own analysis or because I wanted to?
Let my friends see that I'm also knowledgeable about... Another warning sign to remember when investing is the return on investment. Exaggerated and guaranteed, if someone tells you so. That means there's absolutely no risk and the profit is very high. Always be cautious, because high returns often mean...
It comes with high risks, and scammers often... Exploiting herd emotions by creating an image of people. Everyone around them is making a profit to entice the victim to cut ties quickly. The main, concrete preventive measure is to have a force. The emergency fund, before investment, has a clear objective.
Disseminate information about when this money will be used. It's risky not to put all your money in one place. Limit the amount of money you spend on things that keep you awake. Keep the rate or risk at a level where it would be a loss. It won't affect your life if you're unsure about something, so consult a professional.
Consult a licensed financial advisor or read [the following text]. Getting information from reliable sources is a step forward. Sometimes, doing nothing is the best way to cut your losses. No one gives a reward for making the best decision. Keeping up with all the trends but maintaining financial stability.
The money comes from following your own plan. Consistent, even on days when everyone in the room is awake. Dancing with Others, Topic 5: The True Cost of Following Trends and How to Return to the Original. The owner makes the decision when we talk about buying. Most people standing there only think about the numbers on the sheet.
It's finished, but its true price is hidden. Where the receipt isn't printed, try opening it. The entire account shows what we're paying for. Some do it unknowingly; the first example is money, which is obvious. Let's assume you buy trendy items, two pieces a month at 1,500 baht each. In a year, that would amount to 36,000 baht.
If you were to use that money... It 's for savings or other purposes, and should be used regularly. Over the years, it could potentially become your down payment. Study abroad or emergency funds that can help you. Getting through these difficult times doesn't even include the products that need to be sold.
You can also buy additional items, such as a coffee maker. You need to buy coffee beans, mugs, and cleaning supplies. Secondly, you need to consider the time used each hour. Scroll through reviews, compare prices, and find discount codes. Waiting in line is a time that can never be returned. Let's try counting it in hours per month and then ask...
If you had used that time to learn new skills... Life will be different whether you spend time physically or with loved ones. The third thing is mental energy. Constantly comparing yourself to others is... It's exhausting when you buy things just because it's trendy. I'm telling myself that my happiness depends on...
With what others have, the tide turns to change happiness. It disappeared too, and we had to run after it again. It's like running on a treadmill with no way to reach the finish line. The fourth point is, I think my identity is my asset. The most expensive, yet the hardest to see, when we... By repeatedly making decisions based on what others do, we gradually forget who we are.
Try to figure out what you like, dislike, and really want. Ask yourself, if you went without social media for a year, what would you buy? (If the answer is very short...) It might mean that most of your tastes are correct. I borrowed this from someone else, now I get to the part I want to talk about.
For your practical use, I've summarized it into a simple 5-step system: Step 1: Stop for 3 nights. Keep the name of the item in your notes. Don't click to buy. (This is a gimmick.) As a result of a trend, it usually fades away on its own within 2-3 days. Step 2: Ask yourself, who is benefiting from this?
Ask yourself where this craving comes from, who is causing it? It made me feel like I needed to have it, and what would he gain from it? If I purchase step 3, calculate the cost per item. Use an honest estimate to determine how many times it will be used in a year and then divide the price by the number of uses.
If the number is higher than acceptable, skip to step 4: look for cheaper alternatives to borrowing. Hire a second-hand item or use an existing one. It is beneficial to prioritize needs many times over. Actually, you can achieve this without buying something new. Step 5: Set a budget in advance for your purchases; don't cut corners.
Leave the fun behind and try your luck with a small amount of money. Monthly allowance for items purchased because you want them. Just be indifferent, no need for reasons. When the budget runs out, so does the method. This prevents you from feeling restricted to the point of wanting more. An emotional outburst led to a huge purchase, and then another.
My favorite tool is changing the question. Instead of asking "Can I buy it?", which the answer is usually... It's always possible to be asked if I want a lump sum of money. What is this exchange for for every baht spent buying something? One is a baht that is not used for another thing when... Looking at it this way, you can see that buying is not...
Reward yourself, but choose a different lifestyle. One should imagine the other side of the coin, the person who doesn't... Following trends doesn't mean you have nothing at all. He may not own many things, but every piece belongs to him. He carefully selected only a few pieces of clothing. A kitchen where you can feel confident with the right tools.
In reality, savings accounts are gradually growing. And free time that isn't wasted on chasing after things. This new way of life might not seem glamorous. It's quiet and stable in the social media feeds. The kind of thing that money can't buy, ultimately, I want. Remember this short sentence: The best thing is...
For you, it doesn't have to be a best-selling item. When is the time when you dare to go against the current? With peace of mind, without feeling like you've missed out on anything. That's the day you regain your freedom. To choose for oneself with complete freedom. Which promotion conveys the message best?
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