I was a spending addict most of my life. I started my debt free journey about 3 years ago. Now…I am really good at living below my means. I have people working on my fence today. I e needed to furnish lunch. I had Gatorade powder and ice so I loaded an igloo cooler with blue Gatorade. Then, I made pizza from scratch using all the leftovers in my fridge. Then, my dad gave me lettuce from him garden and i made a salad. I fed 6 people for about $5. 3 years ago, I would have spent $100 going to the fast food place and brining back burgers. I love learning ways to live below my means.
#11 external validation is the most significant money eater. If one can just stop caring about how other people may look at what you own and how you spend, that will be so liberating financially, emotionally and spiritually. I personally know so many people who have spent so much money on things simply to show others that they've "made it".
"Not thinking" getting yourself into a bad situation is true! I worked a 12 hour shift last Monday over night. I was coming home at 5:20 a.m. and I was not paying attention or THINKING because I was super tired while backing my 2019 Toyota Camry into my yard. I hit my fence pole on the left hand side of the rear bumper and also got two big scratches in the panel above that. Been parking in my yard for 16 years, and this is the first time I have touched the fence pole. Caused an estimated $2450 in damage. I am paying it out of pocket because I don't want my insurance rate to increase. Car will be ready in about 12 days or so. Sucks. Hard lesson to THINK and pay attention to what I am doing at all times
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Melissa’s profile appears to be fairly knowledgeable, therefore I must say that I value the advice. After locating her online, I thoroughly read through her resume, educational background, and qualifications, and I must say that they were quite impressive. We have set up a meeting after she replied to my message.
I first learned these principles from the Richest Man in Babylon. I've been living below my means for some time and investing the excess in the stock market. I have about $60k now, but I believe I'm not maximising my profits considering the current market dynamics where people are making a lot from the market.
I don't know what your profits are, but you are probably making what every other average investor is making and that is okay. The people who make those crazy profits you hear about are either professionals or people who invest with financial advisors. I'm talking about five figure monthly dividend checks.
I agree. There's a lot of potential in the market. My friend introduced me to a financial advisor in 2021, and even though I was skeptical, I went on. I finally was making enough monthly dividend to quit my soulless job and pursue my dream to start a restaurant in New Jersey.
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with please?
*Sharon Lynne Hart* is the advisor I work with. Just research her name and you'll find necessary details to work with a correspondent to set up an appointment.
I spent 7 dollars on a cabbage slicer, and it helped me save so much time on cooking! Before I bought it, I thought it would be a waste of money, but now I realize how wrong I was. So it was a perfect investment 😁
Yes, living below your means will enable you to save more. Unfortunately, that has become more and more difficult for many. Your suggestions are a great starting point and you are doing great work educating people about how to budget and to save to lead a comfortable life. I see many people that struggle financially but who really don't know that things could be different with just a few swaps and tweaks. They are taken in by the dominant consumerist culture and the quest for an easier life with all the trappings without realising that that is what is keeping them on the treadmill of financial struggles and being overworked and stuck in unfulfilling jobs.
Here are the ways that I am weird: 1. I gift and swap unwanted items with my friends instead of buying gifts. 2. I shop at grocery salvages and thrift stores for the thrill of discovery. 3. I alter and sew my thrifted clothing to personalize it. 4. I drive a totaled car and pay almost nothing for insurance. 5. I vacation at my friends' homes. 6. I enjoy my yard and started gardening for fun. 7. I stream media instead of buying copies. 8. When in doubt, I Iet go of things, expectations and people as needed. 9. We cook almost every day. 10. I actively plan ways to be even weirder.
What stood out to me & what I least expected was who you surround yourself with. It makes sense why that would impact your savings rate, spending habits and your overall mindset about money.
Re #2, not just the time you'd have to work to afford the item, but also the time you'd need to commit to SELL the item if you ever want/need to get rid of it. I've started considering this more: the "other end" costs if you want to sell something you own. Excellent video as always!
Marketplace. We bought my husband's Chevy Silverado 2500 for just over $6000 off Marketplace. We use large purchases until only a junkyard will take them. No end costs.
I am 82 living in Mexico since ave 79. I supported myself, traveled, and helped nice people. Money was spent and shared. I do not help scammers or beggars. Frugal when I die. Direct cremation and no service. Donated body in the USA. Free.
It's amazing how many people simply don't understand the concept of living below their means. It seems like most people are laser-focused on spending every penny they make and then some because they're either trying to maintain a lifestyle they can't afford (because they DESERVE to, don't you know) or they just simply can't control their spending, or both. Also, some people are so concerned with impressing people with their overpriced, depreciating assets (i.e. BMW/Mercedes) that's costing them $1K+ per month. Newsflash: NOBODY cares what you're driving - nobody envies the fact that you're financed up the wazoo with auto payments. People like that need to get over themselves.
Living in a modest house, wearing simple clothes and living a simple life is true joy. Focus on increasing income/productivity and controlling expenses by not letting lifestyle inflation eat away the earnings. The point about using the free things in life is bang on, after all the best things in life like air and sunshine are free. :-) Thank you for making this video. Love from India. :-)
1:42 - 1:53 love the video but imma push back on this example. If you make $20 an hour, that $20 is going to split in taxes/insurance/retirement which means you less than $20 go into your pocket, thus spending $20 means spending 2 hours of your time
I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.
If you have 950k then you don't need advice. Just put it in a HYSA at 5% for now and you will get around 4k a month in interest. Maybe diversify it and put a portion in a index fund and let it grow until you are 60.
Living Below Your Means may be a simple concept but it can be challenging to implement regularly. "Treat treats as treats" (special purchases becoming routine) is my personal obstacle.
Thank you for all ideas and inspiration. I live below my means and save. I'm weird but I love it. I spend on things I value, travels, concerts, experiences and gifts
ohmyyy. i love this video so much! very well explained and i keep agreeing with you the whole vid because all u said is what im doing as of now to save money, it means im in the right path of my financial goals by living below my means while enjoying my lifestyle. you are so well spoken! keep motivating people here in youtube 💖
I’m working on making a garden so I can hopefully be able to limit my grocery bill. I kind of want to get chickens but at the same time I feel like it’s more work and money then just buying eggs.
I love your channel, it resonates a lot with me. Every episode is highly polished, I can sense a lot of work and thoughts behind it. I grew up in Switzerland so I was not raised in the American culture. Common sense and critical thinking are not abilities that a lot of people have in this country and corporate America/capitalism has fostered this type of culture for obvious reasons. It takes distance/traveling/living abroad to really see the financial reality in America and I understand that while this financial spending behavior is normal here, it is very difficult to see things in a different way, and even more difficult to implement, even though it is really basic common sense and simple math. I have several friends who are very well educated with Master and PhD degrees and have no clues how capitalism works and take care of their finances in a responsible manner. Keep up the great work and hopefully you will changes some people's life and finances.
Making money is not the same as maintaining it, which is why i don't understand why investing is not properly taught in schools. Cutting costs. spending less, earning more and investing passively The best way to find that balance between saving and living is by investing..what i can say to early investors is diversification and solid management this was how i got to my first million..at this point I'm actually grateful for my advisor
Great tips as usual. I love thinking about time. I'm going to have a lift shift and yes more pay here in the fall...I keep telling myself...do not adapt to lifestyle inflation, and respect the new time and money.
I’ve tried to do spend less than I make. But I realized in order to do it, you must every month put aside money for unforeseen issues. Dishwasher breaks, water leak, dog needs surgery, you need a root canal, insurance doubles. Not only do you need to spend less than you make, part of your spending has to go towards these annoying contingencies. And it’s not a small amount, you need like $300 a month to go towards that, maybe more if you’re just beginning to fund that account
We needed a lawn tractor, but I wasn't going to spend thousands. My husband said he couldn't find anything nice. I found a nice mower with a cracked mower deck for $300 on Marketplace. He looked at it and found a $200 Toro mower that needed no repairs. We got it the next morning. It was made in 1989 under another name. Toro is a solid brand. We needed a mower that can cut high grass for our western PA property. 5 acres is a lot of grass to cut. We really don't spend much money on anything.
Yeah, it's been a journey. I now understand how to grow on RUclips. I was in a period of stagnation last year this time for like 6 months. It takes years until you understand how to do this and it not be all about luck. Such a learning process and I've grown so much as a person through this.
The only subscription I have is youtube premium for USD4 monthly. I need it to listen to sleep meditation to calm down my anxious brain (so I dont end up overthinking and insomniac). I read books through google read, I rarely watch movies (when i do, I budget it ajd buy it from google, last time I did id was 6 months ago). All my dresses are thrifted, I eat just enough to give my body energy, i dont drink starbucks (I buy instant coffee that i drink like once a week. I discipline myself not to get caffeine addicted). It feels so good to not live in debt amd be free. Hopefully I can be financially free in the next 20 or 30 years.
I make 2x more than what i spend and thats my treat putting half my check into savings. I wish someone would do a step by step video for a 50yo total dummy on how to invest 😬 i have tried to do research and its all way above my head
I have no one I can relate to because everyone I know has to keep up with the Jones's and I don't want them to rub off on me. I just bite my tongue and think "yep you're broke and can't even make it paycheck to paycheck" because you have to prove stuff to everyone else.
@@SYoung-sd4ub Yeah, then these people look down on you like you're a garbage person because you're not like the crowd (sheep). You have goals and dreams financially and you know how to walk the path to achieve them. Instead of living in the moment each day then complaining about not being able to [FILL IN THE BLANK] financially. "It must be nice..." As I've heard many times...Yes! Yes it is! You should try living below your means sometime!
When I was earning only 20k a year some finance lady told me I'm so stupid cuz I'm not saving for my retirement. There was no money I could have saved. Now it's easy for me to save 50% of my income, but it wasn't always that way. If you don't have money, you can't save money. There are many things that you need even when you're broke.
Nailed it. One more thing, no credit card debt, no car debt. It's the interest that kills you. Pay off the expensive debt and you're paying yourself 20% interest.
most Americans sadly cant seem to understand and follow this but I had fantastic parents who really taught us all this well to all be very successful as adults
“Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery.” -Mr. Micawber
I stopped going to Target. It's a trap. You will spend money if you go there. They start charging your credit card the second you walk in the door. So I stopped going. It's been years since I have been in a Target.
I, still shop TARGET with invisible blinders on. I only buy the needed item after online price comparisons. The only splurge item will be Target beef jerky, other brands if on a real sale then ZOOOOOMMM...I am out the door with my cash only purchases.
I used to coupon there, but now I coupon solely at cvs. Sparingly of course. Everything I do is in moderation. But, I have also found that it is better to shop around.
So many Americans need to rediscover the public library and public golf courses and tennis courts and stop being so snotty. I'm on a Soc Sec income and surrounded with people who prefer to order a book on Amazon than go to the library....so much trouble, y'know. I could go on with many other such snobby and lazy examples! You're so right about treats....I hide a $20 from ME to have a biscuit breakfast one day a week.
Outstanding information,with world crisis,rising inflation and economic instability due to poor governance, consider digital assets as a means to attain financial freedom.
Building wealth involves good habits and risks like putting money into solid investments like digital currencies,having a good financial manager is what people tend to shy away from,and it keeps hunting them in the near future after many losses, be disciplined and get certified manager, I pray that anyone reading this will be successful!!!
Right on Austin,you are wise beyond your years,iam older,moved out of the country,to be able to retire ,simple life ocean front in the caribbean.I live on what most americans pay for utilities and insurance up there,off grid,no property tax,no home insurance,car insurance eqv.of 60 per year ,happy with no debt what so ever,but i have been cash and carry all my life,didnt give a shit if people say me driving a 25 year old car.
Since a couple of weeks ago I started to do this and I am happy with it. For example I bought a milk frother second hand for 15 euros instead of 40 euros or more expensive. It was as good as new. I saved myself some money; time and indirect good for nature. Since then I am looking second hand first instead of completely new. I wish I made up my mind about this earlier
Wow! 100K is on the way! I have lived at such a minimal level prior to receiving my current good salary and have funds deducted out of my pay and into my credit union and other investments. I don't get the obsession with Target. I guess for toothpaste and detergent type incidentals but all that decor and candles no thanks!
One of the ways I've been saving money is getting books from the library. I read a lot more now. I did the math and at just 6 books at the time, I was already around $100. I don't even want to do the math for 9 books later...
I love the library but they don’t have some of the books I like to read and I read a book about every 1 to 3 days. I invested in the kindle app ($10 per month at the time) and I could read as many books as I wanted. That’s only $120 per year verses the $2400 ($200 per month) that I was spending. Not free but definitely spending less money. I have also found books at the goodwill $2.00 per book or gently used books on Amazon for dirt cheap that I want to keep for educational purposes (cook books, finance books, survival or herbal medicine). I found a Dave Ramsey book for $2 t the Goodwill that looked brand new that would have cost over $20 at Barnes and Noble. It’s amazing what people will give away which is a win for me
I love my local Buy Nothing and Freecycle FB group. I have furnished 75% or more of my household furnishing for free. I've even got a ton of clothes, many new with tags.
I agree - I've gotten MANY items for free of things people don't want or need. I also have gotten items for friends/family if I know they could use it.
Is that what you consider a low income because I'm self employed and using googles converter take home roughly $2175 per month after business expenses. I'm still VERY Frugal on that, I don't feel I deprive myself and I have an excellent emergency fund/retirement fund. I have ALWAYS thought how can I save more, rather than how can I make more. It's just the way I am. Loved all the animated graphics in this one Agustin
I've found that it's much more rewarding when you make money as a self employed person. The money seems to mean more because it comes with so much more effort and uncertainty than a salary,
@@ElAgustin I agree, and the amazing thing is, you've done it all yourself. You've created and maintained something that generates an income. The feeling of complete independence is so satisfying x
So true. It's much easier to save a dollar, no stress that way We live in California.. I'm 55 yrs old working 48 hrs a wk for $25 an hour cash. Job started 2 years ago and I was able to save 87k so we recently bought an un-livable home on 9.9 acres. Always earned min wage so struggled with this major high Mortgage. We are still remodeling it to being livable. Buying a crappy fixer upper saved us! It will be beautiful, it's on 9.9 acres. ▶ Save $125 a month on property tax. Formerly paid $230 a month Prop Tax/$2760 a yr ▶ Save $150 a month on power. DIY solar power for our e-bikes, car, & home about half the year ▶ Save $100 a month not paying the water company to shower every other day. That's all we did. Free Water via a spring ▶ Save $150 a month growing our own fruits & vegetables. Couldn't afford to grow before due to high water costs ▶ Save $150 a month on Gas. We bought a 2020 Chevy Bolt E-CAR. Solar power 1/2 the year ▶ Save $50 a month on Food by dining out at the Community Centers Weekly Organic Meal- Requested Donation: $10 each. Wonderful tasting food by a world renown Chef. The County chips in $ as $10 doesn't cover the cost of the meal and there are a few fun fundraisers throughout the year to help Anyone who. shows a Food Stamp card doesn't pay. ▶ Save $25 a month at the Food Bank. We volunteer 4 hrs when it's up 1x a month. Only $25 because I technically work 48 hrs a week for $25 per hr. Started the job 2 years ago and it's how we pulled out of the $1500 a month Mortgage to buy a house outright.Don't qualify for the Food bank so I tend to take only expired items otherwise tossed out. --------------------------------------- A savings of $800 per month. For us, we've been low income until a few years ago, this is A TON Of savings. Other Perks: ▶ We feel much better. E-Biking it most places is devine! In better shape and we've lost weight ▶ Love our neighbors. The former town 1 hr prior everyone was wealthy. Everything they wanted to do costs $30+ each. ▶ Love our 20 hens. Prior we had no pets. They feast 90% off a huge compost pile +free range. Selling some of their eggs pays for their feed and there is enough left for us. Free Range Organic Fed Eggs are the healthiest food you can almost have. ▶ I can remain in my house able to meet the bills, even when Hubby Dies. He's 7 yrs older. Can't live any cheaper. ▶ 50K in my IRA. I'm 55 so at age 72 (actually age 75.5 yrs). should turn into around 200k. I'll start taking RMD's as Hubby will surely be dead by then, he's older. ▶ After hubby dies, I could have up to 2 room-mates living in the house so I won't go broke. He's 7 yrs older so vice versa with him. I worry less about him if I pass away first.
Look at how close you are to the free plack!! lol Congrats! Where's the puppy? You need to let us see him at least once per video or Im starting a petition! lol
No 8. Down to earth... Empty we came, empty we will return.❤
I was a spending addict most of my life. I started my debt free journey about 3 years ago. Now…I am really good at living below my means. I have people working on my fence today. I e needed to furnish lunch. I had Gatorade powder and ice so I loaded an igloo cooler with blue Gatorade. Then, I made pizza from scratch using all the leftovers in my fridge. Then, my dad gave me lettuce from him garden and i made a salad. I fed 6 people for about $5. 3 years ago, I would have spent $100 going to the fast food place and brining back burgers. I love learning ways to live below my means.
Not to mention the taste of a nice home made pizza! 🍕
Well done!
Awesome 🥳🥳🥳
Number 4 (more doesn't make you happier) is one of the most sobering things I've heard in long time.
#11 external validation is the most significant money eater. If one can just stop caring about how other people may look at what you own and how you spend, that will be so liberating financially, emotionally and spiritually. I personally know so many people who have spent so much money on things simply to show others that they've "made it".
An investment in knowledge pays the best interest."
Yes, forex and Crypto investment, I heard it's very profitable
Yes, true but I don't know anything about
I have heard so much about cryptocurrency how does it work
Did I hear someone say crypto ?
Invest early, invest often, stay invested
"Not thinking" getting yourself into a bad situation is true! I worked a 12 hour shift last Monday over night. I was coming home at 5:20 a.m. and I was not paying attention or THINKING because I was super tired while backing my 2019 Toyota Camry into my yard. I hit my fence pole on the left hand side of the rear bumper and also got two big scratches in the panel above that. Been parking in my yard for 16 years, and this is the first time I have touched the fence pole. Caused an estimated $2450 in damage. I am paying it out of pocket because I don't want my insurance rate to increase. Car will be ready in about 12 days or so. Sucks. Hard lesson to THINK and pay attention to what I am doing at all times
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Melissa’s profile appears to be fairly knowledgeable, therefore I must say that I value the advice. After locating her online, I thoroughly read through her resume, educational background, and qualifications, and I must say that they were quite impressive. We have set up a meeting after she replied to my message.
I treat myself by saving money💶💶💶👍🏻
Same here.
Nice
Thinking of money as time helps me to spend less.
I first learned these principles from the Richest Man in Babylon. I've been living below my means for some time and investing the excess in the stock market. I have about $60k now, but I believe I'm not maximising my profits considering the current market dynamics where people are making a lot from the market.
I don't know what your profits are, but you are probably making what every other average investor is making and that is okay. The people who make those crazy profits you hear about are either professionals or people who invest with financial advisors. I'm talking about five figure monthly dividend checks.
I agree. There's a lot of potential in the market. My friend introduced me to a financial advisor in 2021, and even though I was skeptical, I went on. I finally was making enough monthly dividend to quit my soulless job and pursue my dream to start a restaurant in New Jersey.
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with please?
*Sharon Lynne Hart* is the advisor I work with. Just research her name and you'll find necessary details to work with a correspondent to set up an appointment.
Thank you for the recommendation. I'll send her an email, and I hope I'm able to connect with her.
I spent 7 dollars on a cabbage slicer, and it helped me save so much time on cooking! Before I bought it, I thought it would be a waste of money, but now I realize how wrong I was. So it was a perfect investment 😁
Nice
Yes, living below your means will enable you to save more. Unfortunately, that has become more and more difficult for many. Your suggestions are a great starting point and you are doing great work educating people about how to budget and to save to lead a comfortable life. I see many people that struggle financially but who really don't know that things could be different with just a few swaps and tweaks. They are taken in by the dominant consumerist culture and the quest for an easier life with all the trappings without realising that that is what is keeping them on the treadmill of financial struggles and being overworked and stuck in unfulfilling jobs.
Absolutely 💯
Then they need to take responsibility for themselves and institute change. Honestly.
Here are the ways that I am weird:
1. I gift and swap unwanted items with my friends instead of buying gifts.
2. I shop at grocery salvages and thrift stores for the thrill of discovery.
3. I alter and sew my thrifted clothing to personalize it.
4. I drive a totaled car and pay almost nothing for insurance.
5. I vacation at my friends' homes.
6. I enjoy my yard and started gardening for fun.
7. I stream media instead of buying copies.
8. When in doubt, I Iet go of things, expectations and people as needed.
9. We cook almost every day.
10. I actively plan ways to be even weirder.
Not weird Smart! Congrats.
I love this!
100k subs. Been with u since 5. Dublin, Ireland.
What stood out to me & what I least expected was who you surround yourself with. It makes sense why that would impact your savings rate, spending habits and your overall mindset about money.
These messages are so powerful! Mucho gracias El Agustin! :) I especially love "Focus More On What You Spend, Rather Than What You Make".
Re #2, not just the time you'd have to work to afford the item, but also the time you'd need to commit to SELL the item if you ever want/need to get rid of it. I've started considering this more: the "other end" costs if you want to sell something you own. Excellent video as always!
Marketplace. We bought my husband's Chevy Silverado 2500 for just over $6000 off Marketplace. We use large purchases until only a junkyard will take them. No end costs.
I always surround myself by content like yours Austin so I always remind myself that I'm frugal!
I am 82 living in Mexico since ave 79. I supported myself, traveled, and helped nice people. Money was spent and shared. I do not help scammers or beggars. Frugal when I die. Direct cremation and no service. Donated body in the USA. Free.
My side hustle is collecting cans and taking them to the bottle deposit
I do the same. It pays for my daily coffee which is my treat.
Love that
It's amazing how many people simply don't understand the concept of living below their means. It seems like most people are laser-focused on spending every penny they make and then some because they're either trying to maintain a lifestyle they can't afford (because they DESERVE to, don't you know) or they just simply can't control their spending, or both. Also, some people are so concerned with impressing people with their overpriced, depreciating assets (i.e. BMW/Mercedes) that's costing them $1K+ per month. Newsflash: NOBODY cares what you're driving - nobody envies the fact that you're financed up the wazoo with auto payments. People like that need to get over themselves.
Living in a modest house, wearing simple clothes and living a simple life is true joy.
Focus on increasing income/productivity and controlling expenses by not letting lifestyle inflation eat away the earnings.
The point about using the free things in life is bang on, after all the best things in life like air and sunshine are free. :-) Thank you for making this video. Love from India. :-)
1:42 - 1:53 love the video but imma push back on this example. If you make $20 an hour, that $20 is going to split in taxes/insurance/retirement which means you less than $20 go into your pocket, thus spending $20 means spending 2 hours of your time
I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
If you have 950k then you don't need advice. Just put it in a HYSA at 5% for now and you will get around 4k a month in interest. Maybe diversify it and put a portion in a index fund and let it grow until you are 60.
Living Below Your Means may be a simple concept but it can be challenging to implement regularly. "Treat treats as treats" (special purchases becoming routine) is my personal obstacle.
I really like the treat, treats as treats...golden! 😊
Thank you for all ideas and inspiration. I live below my means and save. I'm weird but I love it. I spend on things I value, travels, concerts, experiences and gifts
I have watched so many of these videos last days, this was one of the best ~ many different thoughts/ideas 🙏
Just got notified Austin of your new video and going to watch it right now! ❤
Hope you enjoyed it!
@@ElAgustin I sure did Austin! Thank you!
ohmyyy. i love this video so much! very well explained and i keep agreeing with you the whole vid because all u said is what im doing as of now to save money, it means im in the right path of my financial goals by living below my means while enjoying my lifestyle. you are so well spoken! keep motivating people here in youtube 💖
I’m working on making a garden so I can hopefully be able to limit my grocery bill. I kind of want to get chickens but at the same time I feel like it’s more work and money then just buying eggs.
Good idea
I love your channel, it resonates a lot with me. Every episode is highly polished, I can sense a lot of work and thoughts behind it. I grew up in Switzerland so I was not raised in the American culture. Common sense and critical thinking are not abilities that a lot of people have in this country and corporate America/capitalism has fostered this type of culture for obvious reasons. It takes distance/traveling/living abroad to really see the financial reality in America and I understand that while this financial spending behavior is normal here, it is very difficult to see things in a different way, and even more difficult to implement, even though it is really basic common sense and simple math. I have several friends who are very well educated with Master and PhD degrees and have no clues how capitalism works and take care of their finances in a responsible manner. Keep up the great work and hopefully you will changes some people's life and finances.
I make 3,844 a month after taxes and able to save 1900. All depends so it is possible with just 3,844.
Another great video Austin! Keep it up.
Making money is not the same as maintaining it, which is why i don't understand why investing is not properly taught in schools. Cutting costs. spending less, earning more and investing passively The best way to find that balance between saving and living is by investing..what i can say to early investors is diversification and solid management this was how i got to my first million..at this point I'm actually grateful for my advisor
The thoughts and ideas here are remarkable
I’ve actually been looking into the market lately, the news I’ve been seeing hasn’t been so encouraging. who do you use as your fiduciary ?
@@soveinaaraceli Dianne Sarah Olson' is her name. In her area, people consider her to be a genius. Look her up; she's well regarded in her field.
Great tips as usual. I love thinking about time. I'm going to have a lift shift and yes more pay here in the fall...I keep telling myself...do not adapt to lifestyle inflation, and respect the new time and money.
I’ve tried to do spend less than I make. But I realized in order to do it, you must every month put aside money for unforeseen issues. Dishwasher breaks, water leak, dog needs surgery, you need a root canal, insurance doubles. Not only do you need to spend less than you make, part of your spending has to go towards these annoying contingencies. And it’s not a small amount, you need like $300 a month to go towards that, maybe more if you’re just beginning to fund that account
We needed a lawn tractor, but I wasn't going to spend thousands. My husband said he couldn't find anything nice. I found a nice mower with a cracked mower deck for $300 on Marketplace. He looked at it and found a $200 Toro mower that needed no repairs. We got it the next morning. It was made in 1989 under another name. Toro is a solid brand. We needed a mower that can cut high grass for our western PA property. 5 acres is a lot of grass to cut. We really don't spend much money on anything.
Cheers from up here in Butler!!
what a headache maintaining all that acreage. waste of time and labor. not worth it
Almost 100k subscriber😮😮. I remember when I started following you at 49k. You came a long way El Agustin. Amazing job!!!
Same! So happy for him!
Yeah, it's been a journey. I now understand how to grow on RUclips. I was in a period of stagnation last year this time for like 6 months. It takes years until you understand how to do this and it not be all about luck. Such a learning process and I've grown so much as a person through this.
I want to do RUclips I know it takes a long time and daily persistence.
The only subscription I have is youtube premium for USD4 monthly. I need it to listen to sleep meditation to calm down my anxious brain (so I dont end up overthinking and insomniac).
I read books through google read, I rarely watch movies (when i do, I budget it ajd buy it from google, last time I did id was 6 months ago).
All my dresses are thrifted, I eat just enough to give my body energy, i dont drink starbucks (I buy instant coffee that i drink like once a week. I discipline myself not to get caffeine addicted).
It feels so good to not live in debt amd be free. Hopefully I can be financially free in the next 20 or 30 years.
I'm probably gonna buy Starbucks today. Gonna need that cup of coffee during my trip.
@@elizabethkass49 good for you🥰
Keep up the good work 👍👍
I make 2x more than what i spend and thats my treat putting half my check into savings. I wish someone would do a step by step video for a 50yo total dummy on how to invest 😬 i have tried to do research and its all way above my head
Really like the way you explained #4, treat treats as treats. Great video brother!
It’s hard finding people who live below their means to befriend. Most people are hooked deeply into The Matrix😅
That’s so true!
I have no one I can relate to because everyone I know has to keep up with the Jones's and I don't want them to rub off on me. I just bite my tongue and think "yep you're broke and can't even make it paycheck to paycheck" because you have to prove stuff to everyone else.
The materialistic culture of the US keeps them enslaved. Slaves for life to debt
@SYoung-sd4ub Good for you!
Be your own best friend, and you will find a "live below your means friend"
I did.. ..quite a few, actually!😆
@@SYoung-sd4ub Yeah, then these people look down on you like you're a garbage person because you're not like the crowd (sheep). You have goals and dreams financially and you know how to walk the path to achieve them. Instead of living in the moment each day then complaining about not being able to [FILL IN THE BLANK] financially. "It must be nice..." As I've heard many times...Yes! Yes it is! You should try living below your means sometime!
Spend intentionally and save/invest aggressively. It’s that simple!
I'm an expert at saving and not spending , but woeful at making it, besides making money from what I already have.
Same here. I think we need to learn new skills to be marketable in job market or building your own business.
Puppies cost a lot of money lol
When I was earning only 20k a year some finance lady told me I'm so stupid cuz I'm not saving for my retirement. There was no money I could have saved. Now it's easy for me to save 50% of my income, but it wasn't always that way. If you don't have money, you can't save money. There are many things that you need even when you're broke.
You are a very wise man , thank you for the very helpful advice 💋
Nailed it. One more thing, no credit card debt, no car debt. It's the interest that kills you. Pay off the expensive debt and you're paying yourself 20% interest.
If it doesn't feed, cloth or shelter me I don't buy it
Nice video Augustin, back to the besics, what this channel is about ❤
haha, trying all sorts of things here.
@6:42 "Free Love, from your Puppy"
Lols, love that 😄❤
Although you repeat the same concepts in your videos, I still find them helpful each time.
most Americans sadly cant seem to understand and follow this but I had fantastic parents who really taught us all this well to all be very successful as adults
“Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery.” -Mr. Micawber
Very valuable info! I could write a book on this!
thank youuuuuu!!!
I stopped going to Target. It's a trap. You will spend money if you go there. They start charging your credit card the second you walk in the door. So I stopped going. It's been years since I have been in a Target.
I, still shop TARGET with invisible blinders on. I only buy the needed item after online price comparisons. The only splurge item will be Target beef jerky, other brands if on a real sale then ZOOOOOMMM...I am out the door with my cash only purchases.
I used to coupon there, but now I coupon solely at cvs. Sparingly of course. Everything I do is in moderation. But, I have also found that it is better to shop around.
So many Americans need to rediscover the public library and public golf courses and tennis courts and stop being so snotty. I'm on a Soc Sec income and surrounded with people who prefer to order a book on Amazon than go to the library....so much trouble, y'know. I could go on with many other such snobby
and lazy examples!
You're so right about treats....I hide a $20 from ME to have a biscuit breakfast one day a week.
For a side to a sandwich I have a big can of Barbecue beans in the fridge that lasts a few days. The chips thing really has gotten luxurious.
@@pawspawty1234 There's always fruit cup -- make your own fruit cup, that is
Can you please show your dog? ❤
I want to see the dog also 😊
Outstanding information,with world crisis,rising inflation and economic instability due to poor governance, consider digital assets as a means to attain financial freedom.
Building wealth involves good habits and risks like putting money into solid investments like digital currencies,having a good financial manager is what people tend to shy away from,and it keeps hunting them in the near future after many losses, be disciplined and get certified manager, I pray that anyone reading this will be successful!!!
Thank so much for the advice been seeking means of being successful in the digital market,do you recommend any professional ?
I don’t really do but luckily Anna Dorris Arthur is the best I can recommend so far..
Hey everyone! 👋 Just starting my investment journey in crypto and stocks. 🚀 how do I reach Anna Dorris Arthur? Let’s grow together.
+1838
Great video 👍🏽
Indeed, knowing when enough is ENOUGH is vital.
One of the best books I've ever read is, "You're Money or your Life."
Right on Austin,you are wise beyond your years,iam older,moved out of the country,to be able to retire ,simple life ocean front in the caribbean.I live on what most americans pay for utilities and insurance up there,off grid,no property tax,no home insurance,car insurance eqv.of 60 per year ,happy with no debt what so ever,but i have been cash and carry all my life,didnt give a shit if people say me driving a 25 year old car.
and rightfully so, NO ONE cares about you! only a fool thinks that way.
Shop second hand where possible…👍🏽
Yes especially if you only have one hand 😂
Don’t get addicted to thrift stores. Only buy what you need.
New items only for sale prices
@@Ronnie500 It’s always the two out before I in policy for me, and then only needs…😁
Since a couple of weeks ago I started to do this and I am happy with it. For example I bought a milk frother second hand for 15 euros instead of 40 euros or more expensive. It was as good as new.
I saved myself some money; time and indirect good for nature. Since then I am looking second hand first instead of completely new.
I wish I made up my mind about this earlier
If the best points of your videos were compiled into a book I would be one of the first to buy it! Good advice coupled with humor and sensitivity 😊
Treat treats as treats, such a simple concept and yet so powerful.
Yes, you feel fortunate if you get one nugget of advice. His is filled with great advice and he's so young!
@@skysitters8060This is my favourite quote ever. So powerful
haha, thanks!
Wow! 100K is on the way! I have lived at such a minimal level prior to receiving my current good salary and have funds deducted out of my pay and into my credit union and other investments. I don't get the obsession with Target. I guess for toothpaste and detergent type incidentals but all that decor and candles no thanks!
One of the ways I've been saving money is getting books from the library. I read a lot more now. I did the math and at just 6 books at the time, I was already around $100. I don't even want to do the math for 9 books later...
I love the library but they don’t have some of the books I like to read and I read a book about every 1 to 3 days. I invested in the kindle app ($10 per month at the time) and I could read as many books as I wanted. That’s only $120 per year verses the $2400 ($200 per month) that I was spending. Not free but definitely spending less money. I have also found books at the goodwill $2.00 per book or gently used books on Amazon for dirt cheap that I want to keep for educational purposes (cook books, finance books, survival or herbal medicine). I found a Dave Ramsey book for $2 t the Goodwill that looked brand new that would have cost over $20 at Barnes and Noble. It’s amazing what people will give away which is a win for me
No. 1 Rule. Take care of your health and keep your wealth.
I love my local Buy Nothing and Freecycle FB group. I have furnished 75% or more of my household furnishing for free. I've even got a ton of clothes, many new with tags.
I agree - I've gotten MANY items for free of things people don't want or need. I also have gotten items for friends/family if I know they could use it.
That's fantastic!
Sounds pretty ghetto, nice
@@kylepatton2423 broke mentality. Be like
Great video once again Austin! So close to 100k subs
This time next week I'll be at 100k!
@@ElAgustin damn right!
I respectfully disagree- we have far more control over what we make than most of us think we do!
There is a proverb from the Bible that is so on point for this video.... The borrower is ALWAYS SLAVE TO THE LENDER!
Dave Ramsey used that quote.
And that's where he got it from! Have a great day!
Spot on, I forgot that bible verse!
Treat, treats as treats ❤
Simple, but profound.
Excellent video
Damas y caballeros!! Thank you for another video amigo
100k is coming soon!
You totally need to announce a live stream to celebrate 100k!! We would love that. And Star should make a guest appearance too!
Woohoo 🎉almost 100k subs Augustine 😊 wow 🤩
I spend little as $10.00 per week and don't get clothes or shoes just food
❤❤❤
Great nuggets as usual
Buy only what you need and buy less than what you can afford
Look for them sales 😉
I love your content- so pleasant yet insightful. Thank you
Thanks!
I'm favoured, $27K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America.
She is really a good investment advisor.
I was privileged to attend some of her seminars, that's how I started my crypto investment
I have heard a lot of wonderful things about Sonia Duke on the news but didn't believe it until now. I'm definitely trying her out
I'm glad to write her tay I do hope she will help handle my paycheck properly☺️☺️☺️
Can I start with as low as $1,000?
Please who is this Mrs Sonia
I want to start business but i don' t know how and which
Anexandra from Germany
Very interesting video. Are you still doing 9 to 5 job, or you have your own business?
Is that what you consider a low income because I'm self employed and using googles converter take home roughly $2175 per month after business expenses. I'm still VERY Frugal on that, I don't feel I deprive myself and I have an excellent emergency fund/retirement fund. I have ALWAYS thought how can I save more, rather than how can I make more. It's just the way I am. Loved all the animated graphics in this one Agustin
I've found that it's much more rewarding when you make money as a self employed person. The money seems to mean more because it comes with so much more effort and uncertainty than a salary,
@@ElAgustin I agree, and the amazing thing is, you've done it all yourself. You've created and maintained something that generates an income. The feeling of complete independence is so satisfying x
So true. It's much easier to save a dollar, no stress that way
We live in California.. I'm 55 yrs old working 48 hrs a wk for $25 an hour cash. Job started 2 years ago and I was able to save 87k so we recently bought an un-livable home on 9.9 acres. Always earned min wage so struggled with this major high Mortgage.
We are still remodeling it to being livable. Buying a crappy fixer upper saved us! It will be beautiful, it's on 9.9 acres.
▶ Save $125 a month on property tax. Formerly paid $230 a month Prop Tax/$2760 a yr
▶ Save $150 a month on power. DIY solar power for our e-bikes, car, & home about half the year
▶ Save $100 a month not paying the water company to shower every other day. That's all we did. Free Water via a spring
▶ Save $150 a month growing our own fruits & vegetables. Couldn't afford to grow before due to high water costs
▶ Save $150 a month on Gas. We bought a 2020 Chevy Bolt E-CAR. Solar power 1/2 the year
▶ Save $50 a month on Food by dining out at the Community Centers Weekly Organic Meal- Requested Donation: $10 each.
Wonderful tasting food by a world renown Chef. The County chips in $ as $10 doesn't cover the cost of the meal and there are a few fun fundraisers throughout the year to help Anyone who. shows a Food Stamp card doesn't pay.
▶ Save $25 a month at the Food Bank. We volunteer 4 hrs when it's up 1x a month. Only $25 because
I technically work 48 hrs a week for $25 per hr. Started the job 2 years ago and it's how we pulled out of the $1500 a month Mortgage to buy a house outright.Don't qualify for the Food bank so I tend to take only expired items otherwise tossed out.
---------------------------------------
A savings of $800 per month. For us, we've been low income until a few years ago, this is A TON Of savings.
Other Perks:
▶ We feel much better. E-Biking it most places is devine! In better shape and we've lost weight
▶ Love our neighbors. The former town 1 hr prior everyone was wealthy. Everything they wanted to do costs $30+ each.
▶ Love our 20 hens. Prior we had no pets. They feast 90% off a huge compost pile +free range. Selling some of their eggs pays for their feed and there is enough left for us. Free Range Organic Fed Eggs are the healthiest food you can almost have.
▶ I can remain in my house able to meet the bills, even when Hubby Dies. He's 7 yrs older. Can't live any cheaper.
▶ 50K in my IRA. I'm 55 so at age 72 (actually age 75.5 yrs). should turn into around 200k. I'll start taking RMD's as Hubby will surely be dead by then, he's older.
▶ After hubby dies, I could have up to 2 room-mates living in the house so I won't go broke. He's 7 yrs older so vice versa with him. I worry less about him if I pass away first.
Magnifico!
What are your thoughts on ında tur and eww ,country etf s
Almost at 100,000! Please like and subscribe! Sending good vibes from Costa Rica!
Pura vida.
Look at how close you are to the free plack!! lol Congrats! Where's the puppy? You need to let us see him at least once per video or Im starting a petition! lol
start a savings account. most basic money saving tips.
As long as i can still have fun. I'm down 😊
Easier when your younger my phone 11 cost £150 why £1000 on a phone that does exactly the same
External validation has killed people ehhhh
Balance is the key