Comments by "Piccalilli Pit" (@piccalillipit9211) on "" video.

I LOST A €6 MILLION COMPANY cos I didnt have insurance against me being injured / sick and incapable of running it... So when I suffered brain damage in a mugging it went bust and I was left homeless. This is why its idiotic to say poor people make bad decisions - you have to KNOW there is a decision to be made, coming from a dirt poor family I never knew this insurance even existed.
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@MazzaEliLi7406 YEP - thank you - I wrote a book about it and now I am a professional author. I am genuinely happier than when I was rich, after the novelty wore off I found it a very empty existence. I'm from Batley in West Yorkshire and I never really suited that life, too down to earth... Im very please it happened or I would still be working my ass off to try and "make it" - I can kick back in the knowledge there is nothing to work for cos I don't want it...
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@brendanbarker6403 - I did have some very good people, yes and I paid them 2 X the average salary for their jobs in this city. Like all things its more complicated than you can summarise in a few lines on YouTube comments. I started and built the company in Bulgarie where I did not speak the language so I pretend stock using pictures and sign language for the first 3 years LOL. The company sold Bulgarian and Polish cosmetics to the UK and the USA. It grew so fast - doubling the number of orders every 6 to 9 months - that 90% of my time and effort were spent managing the problems the growth caused. Every time we implemented a stock control system it was woefully too small in scope to deal with the orders and volumes by the time it went live. It was insanely profitable at the time but obviously, a lot of that profit was funding the stock etc for the expansion. I never enjoyed the business at all. It was just a way to make money and live. So I got a valuation to sell it. 2 months later I was mugged for my Rolex Cosmograph and suffered the brain damage. I was essentially a walking vegetable for 3 months and utterly useless for another 6 months after the attack by which point the business was in terminal decline... I honestly dont miss it or the life or the money. Im actually pleased it happened even though it was very horrible at the time. I got up this morning with no hangover [which was rarely the case before] at 5.30 am - Ive done my Tai Chi on the balcony, I have walked my dog twice, Im just about to start my yoga and after that I am learning how to knit a pair of socks - because why not? This is a much more fulfilling life than selling cosmetics to Americans
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@garryferrington811 - Yep - I know now. LOL
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@brendanbarker6403 Yeah but you have to be aware these safeguards exist OR be aware there is a person who you can pay to sort this stuff out for you as most wealthy people would have.
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@brendanbarker6403 - " but profits are only profits when there in your bank, and not needed for investment, " they explaining that to the tax man LOL No I fully understand what you are saying. You cant spend stock of computers when the rent needs paying. Ont thing that DID go in my favour was being a foreigner no one would give me credit or bank loans so there was ZERO debt. It was an entirely cash positive business. So when it folded I was not left with debt. This is a chapter from my next book [it has not been proof read or edited yet]: RELIGIOUS MORAL OBJECTION TO DEBT “Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalized [by] the State” Karl Marx, Das Kapital, 1867 When I use the word religious I don't mean “believe in a god”, I mean develop a fanatical religious like moral objection to debt. Debt is the sale of your future labour. The sale of your future LIFE. The sale of your LIFE for years to come. It is utterly crushing. It saps the will to live from everyone who is in significant amounts of it. If your salary is $2000 a month and $800 of it vanishes like magic before you even get to draw it from the bank it’s crushing to the human spirit. Debt is one of the main causes of suicide. Not because of its existence but because of what it does to the human soul. People don't kill themselves because they owe $50,000, they kill themselves because of how the payments have worn down their mental state, the stress they have caused, the damage to their psyche and mental health. Most people in significant debt who are considering suicide would, if they were thinking straight, declare bankruptcy and get help. But the stress and pressure exerted by the debt stops them thinking straight. There are almost no circumstances where a low income person is better off taking on debt. Almost every scenario where you were in financial difficulties and you used credit to get you out of it, you would have been better to suffer and get through without acquiring debt. In the long run it likely caused you more problems than it solved due to the ongoing hardship debt creates; and its self compounding nature. A $1000 loan for 12 months costa you $100 a month, which means you are $100 LESS likely to be about to cover the next problem that occurs. So you add $500 more to the debt and now you are paying $150 a month, so the next time there is a problem you add another $500. And now it’s $200 a month. But the reality is the $500 you just added to that debt you just paid in debt payments. You would have had the $500 IF YOU WERE NOT PAYING $150 A MONTH. It’s self compounding. You only have the problem because you already have the debt, if you didnt have the debt it would not be a problem. The debt you have starts to self generate problems that then need more debt to solve them. It is a classic vicious circle of debt generating problems that need debt to cover them. And it really only takes a tiny bit of money in a jar in the house to stop these problems occurring. Just $500 will see you though 80% of emergencies. $2,000 will see you through 95% of emergencies. So your number ONE top priority in life is to clear any debt you have and to never take any more debt on unless it is to start a business or buy a house. Do absolutely everything human possible to clear every penny of debt you have, I mean go to extreme lengths. Go around your house and put a little sticker on everything you have not used for the last 12 months - you don't need it, put it on eBay and sell it. Even if you only get $5 for an item - that's $10, $20 even $50 over the lifetime of that debt you are clearing off. Cos $5 can be the difference in a payment happening or a payment “bouncing” and then you will be hit with late fees. Stop buying ANYTHING that is not food, a necessity for your children, an absolute necessity for life and pay off those debts in the order of most horrifically expensive. PayDay loans first. Credit cards second. Car finance third. Bank loans fourth. Mortgage fith. Yes you should clear your mortgage off as quickly as possible, I know the interest rate is super low right now and it does not make “sense”. But interest rates vary. My first mortgage was at 16% in the UK. The payments on a $200k mortgage at 16% is $3,333 a month, don't assume interest rates will stay at next to zero forever. EDIT: Since I wrote this 18 months ago the interest rates have started to rise… ---§--- Edit comment - the tail was not wagging the dog, the tail was spinning the dog around in circles...
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