Nischa

Biography:

Nischa is a chartered accountant and personal finance expert who shares her knowledge of the topic with her thousands of followers on YouTube and other social media.

Nischa graduated with a degree in finance and accounting and worked at a large investment bank after graduating. Now, her mission is to provide financial education that helps others achieve their goals and live their dream lives.

On her popular YouTube channel, she covers a wide range of personal finance topics, from tips for buying a car to getting started with investing.

Why She’s a Top Money Expert:

Nischa is one of the most influential YouTubers in the personal finance space. She uses her platform to create content designed to help viewers improve their personal financial situation.

Q&A:

What’s been your most popular video and why do you think it has resonated with so many viewers?

My video on “9 Bad Money Habits Keeping You Poor” has resonated with nearly 7 million people in three months. I believe this video struck a chord with so many people because it combined two things that are rarely paired together in the finance world: the fundamentals of personal finance and the idea of choosing the path of least resistance.

The video highlights daily habits that most engage in, without even realizing they’re hurting their finances. These money habits have been ingrained in us from an early age and have become a normal part of life, making it hard to spot them. To identify bad money habits, you want to nail the basics, and then to replace those bad money habits with good money habits, you want to use systems and psychology. By intertwining both, you can stack the deck in your favor and completely change your financial trajectory.

What topic do you wish people were more informed about and why is it so important to understand this topic?

Investing! It’s easy to understand and access information on how to save money. A simple Google search will give you 101 different ideas — from cutting your own hair to finding discount codes, you will never be short of teachings! How to invest, on the other hand, is another side of the equation that is a lot less accessible. This is the part nobody seems to teach you, and these are the conversations happening behind closed doors, not on blog posts or public forums.

Not doing anything with your money is the easy route, but the stakes are high. I am on a mission to educate people about investing so they can make their hard-earned money work hard for them. Have the conversations, learn the fundamentals and start early.

There’s a lot of great financial advice on YouTube — but also a lot of not-so-great advice. How can viewers determine what advice they should and shouldn’t follow?

Having a “money radar” that identifies the good advice from the not-so-good advice is one of the most useful skills you can have. It’s not always easy to weed out the good from the bad, but there are two things that I always look for when taking advice from someone on YouTube:

1. Experience. Have they already done what you’re trying to achieve, and are they able to give practical advice on what works and what doesn’t?
2. Education: Have they got the qualifications and the credentials to back up what they are saying?

Just like you would rather take health advice from a doctor than a banker, you want to take money advice from someone who has experience and/or education on the topic.

And remember, unlike math, where there is a sure answer, there isn’t a one-size-fits-all approach to money. Finding someone that you resonate with is just the first step — tailoring it to perfectly fit you is the second.

What’s the worst financial advice you’ve seen being given, on YouTube or elsewhere?

“Credit cards are bad” followed by “Cut back on coffee.” I am a believer in prioritization and find these statements to be promoting deprivation. Money should serve as a tool to create the life you desire, not to take away from it.

How you spend money is heavily influenced by what others say and do, so one of the best things you can do for your finances is carve out what your ideal financial life looks like. Having clarity on why you work so hard and what you are working towards means you can make conscious decisions and ruthlessly cut back on spending elsewhere.

Striking a balance is essential. Enjoy the rewards of your hard work now while also setting up a financially secure future.