Reacting To The Worst Personal Finance Channel On YouTube finance advice

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In this episode, Chelsea and fellow YouTuber Big Joel (aka Henry) react to some of the wildest personal finance “advice” videos from Alux.com, a YouTube channel claiming to provide “advice for future billionaires.”

Big Joel’s original explainer video:

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Reacting To The Worst Personal Finance Channel On YouTube

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Reacting To The Worst Personal Finance Channel On YouTube
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19 comments

DrewLSsix 24/02/2022 - 6:17 Chiều

I'm probably better situated than most to start Flipping cars for money, im a mechanic with 20 years of diverse experience, I have a fair collection of tools, I live in a place that's pretty lax on certain standards, meaning if I wanted to I could sell some pretty shitty cars with no legal fallout.

As someone with these benefits I feel I can lay out the many reasons why I'm not currently a billionaire used car barron.

1: cars almost always cost something, I may at any given point have a few grand in savings and that limits my starting point severely. I can't just buy the best car for that money and re sell it, theres no added value so that's probably a losing game. I can buy say a $500 mechanics special, rely on my best judgment and abilities to not buy a real lemon, invest some of the balance into fixing it up. Then hope it sells both quickly and for a decent profit.

2: I'm not the only one doing this, I cans ee plenty of people around me doing the same thing, theres a hand full of cars on a corner a few blocks away that someone has been trying to flip for months, even in the depths of the current car drought sales near the bottom of the market are hardly guaranteed.

3: as lenient as my state is.. they will still want their money, so taxes will come due, title fees, business license. The epa very much cares about where I put my waste products, saw a former boss get absolutely ruined for mishandling waste oil from his tiny 2 Bay shop.

3: customer comebacks, even assuming your best intentions and efforts you will have problem cars and people will come to you for answers and reparations. All sales are final doesn't really cover it, and if you hold that line hard enough your new little business will sink hard and fast. So make room in your schedule and budget for comebacks.

4: those guys that are all over my area doing this already? A lot of them have been doing it a long time, are better than I may ever be. Not a one of them is even a millionaire, let alone a billionaire.

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Melissa Seidl 24/02/2022 - 6:17 Chiều

This is the funniest TFD video, I keep rewatching it. I would love if Chelsea and Henry did this every month/few months; just watch bonkers PF videos and talk about them

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Jennify Living 24/02/2022 - 6:17 Chiều

I actually appreciate the frankness of ALux. I definitely don’t prescribe to many of their “tips” but then I’ve also never seen them as financial guides and more like pseudo aspirational real-world shiiiiiizzz. I feel they take a seriously stark stance and they definitely do not sugar coat anything. But the point is toiling away in a basic 9-5 is never gonna get you to wealth if that’s what you desire. Though perhaps this is where stuff like FIRE comes in.

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legalcanada 24/02/2022 - 6:17 Chiều

Real estate agents and car salesmen can make lots on commission and they don't own the real estate or cars they are selling…

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Ryan Atkinson 24/02/2022 - 6:17 Chiều

Ayyy a perfect combo!

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Shanti Abdumumin 24/02/2022 - 6:17 Chiều

The thing about doctors, though, is that they're not really being paid for their labor, bc most of the actual work is being done by nurses; just like with lawyers–most of the work the lawyer is charging $800/hr for, is actually being done by paralegals, legal assistants, and first-year associates.

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Shanti Abdumumin 24/02/2022 - 6:17 Chiều

On another note: anybody else notice that Chelsea is now on the road to 1 million subs???

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Shanti Abdumumin 24/02/2022 - 6:17 Chiều

So…he does reaction videos. Why is that so difficult to describe?

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TheRealNCYank 24/02/2022 - 6:17 Chiều

Alux and TFD have different target audiences.

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Jane G 24/02/2022 - 6:17 Chiều

Shit, I could have just decided to not be poor? Why didn't I know that before?

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Mare P 24/02/2022 - 6:17 Chiều

Alux is straight up gaslighting millions of people. It’s terrible that so many people fall for it.

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Ashlynn Abbott 24/02/2022 - 6:17 Chiều

Please do more videos with Big Joel, the two of you together are fantastic

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Laura Cooper 24/02/2022 - 6:17 Chiều

Who tf is Henry? That's Joel, of Big Joel.

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Jason Mims 24/02/2022 - 6:17 Chiều

I once binge watched these videos and found some of them interesting but there just entertainment to me.

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Meaghan Orlinski 24/02/2022 - 6:17 Chiều

What is ironic is the awful finance/MLM advertisements that come through Youtube when you watch this…

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Danielle Brooks 24/02/2022 - 6:17 Chiều

You two are a riot together. This was both hilarious and validating in the best way. lol

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Lilia Mckenzie 24/02/2022 - 6:17 Chiều

I love Alux can’t believe you thing it’s “the worst” no

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Krunal Gode 24/02/2022 - 6:17 Chiều

Can someone pls explain Why so Much Hate for Alux?

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Kent S. 24/02/2022 - 6:17 Chiều

That's why Dave Ramsey pisses me off. Tells someone to just get another job, you don't know where they live, maybe all the jobs in the area suck and they can't afford to save up move out of there.

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