I'm turning 29 soon. I make over 100k a year. Have been making 50k+ the majority of my 20s. I am broke - for doing the exact opposite of what you did. I want to layout how I ended up here for younger people reading so that I can also put my two cents in. I'm a car guy, love cars. I swapped around vehicles a lot in my early 20s, all super cheap but still. I should've bought the $1500 140k mile Honda Civic for my first when it was an option (good luck finding something like that today). Instead I wanted to have fun. I ended up landing on my fun car, I paid $5500 for it and it was low mileage. But then it started breaking a TON and I refused to give up on it. I'm $30k in on a $5500 car. It's fun, I love it, but I basically can't get rid of it and refuse to due to the money I've put into it and I know I'd just buy another later down the road. I ended up buying a certified preowned $29k car as a second reliable and good on fuel vehicle that I really wanted and it's been great. I don't plan on selling this one either and babying it. That payment however, HURTS. I moved out of my parents when I was 18, but would return for months spurts between places. I had the option of living 100% bill free and I chose against it because I no longer wanted to say I live with my parents and have freedom. At one point, a girlfriend and I got an apartment that was cheap, but we weren't financially ready for it and when we broke up I ended up eating $5k in damages from that relationship and to the apartment (Another lesson - don't cosign for a loan for ANYBODY you're not married to or that is your child, and only do that then if you are fully prepared to pay that off). Fast forward a bit and I ended up in a good spot renting from a friend who had a finished basement with all amenities for less than $800 a month. I was in a very good spot for about 3 months until I decided to move 1k miles across the country to take up a new job. I thought I had someone moving with me so I locked in on a 2 bedroom. I thought I was going to be making LOADS of money and locked in on a $2200/m rent nothing included. That person did not move, and I was not making near as much as I thought. On top of that, I sold all my belongings before moving for cheap and with no savings. I ended up throwing things on a credit card with intent to pay them off quick, and I couldn't. I basically lived with a laptop, a bed, and a tv in a fancy empty $2200 house for a year just BARELY scraping by. I've since moved back and now live with my parents again. I've been here a few months. It's embarrassing, but nowhere near as embarrassing as it would've been in my early 20s, financially setup when I left. STAY with your parents if it's significantly cheaper and safe. If you do move out, do exactly as he says and move somewhere loaded up with roommates and stick it out. Credit cards are the devil, forget the rewards. Buy now, pay later, also the devil. Pay everything you can humanly possible in cash. It's a massive downward spiral, and it's tough to control. Save an emergency fund, invest into your retirement and the stock market. I'm about 8 months away from being debt free, and you'll want it in your late 20s.
thanks so much for sharing this vulnerable story and things you'd do differently. It takes guts to do that, but i think this could help a lot of the young guys watching this video. This comment is loaded with golden advice. I might pin this
i do use credit cards, you're right they have to be done responsibly and paid in full each month and some of them do have good benefits. If you know you won't be responsible with them, don't get them
@whylearntech could've made it a lot longer and I skipped a lot but it was getting too long I wasn't expecting people to read much further. Yes, if used properly credit cards are great. However, the majority of people won't have that self control, and you'll still want a good sum of cash saved up before doing so.
Credit cards are not the devil. You make them the devil by forgetting to pay or being unable to pay for what you bought. Don't buy what you can't afford at that moment. I've reaped hundreds of dollars in rewards by just going online and clicking 3 buttons to pay every month. And not only is paying everything in cash tedious and stressful on its own, good luck trying to buy a car or house with 0 credit score. Good luck trying to get a loan.
I watch news from optimus but there is so many that do gameplay and cover news which has been a redundant a formula for a good while now. The Gameplay is the background/comfort the familiarity of it all, while rich wisdom and philosophy ensues our ears. Every once in a while the gameplay can be the focus and the pause that can be needed at times.
my friends call me a homeless person with a house. I make my own energy drinks for about 3 cents each, my phone only charges wirelessly and also never has storage, my car's bumper is completely falling off, my meals are all sandwiches. Saving money brings me so much joy because the financial anxiety is nonexistent when i'm saving 80% of my paycheck. nothing I buy could bring me more joy than the peace i have with my finances.
Ramith Sethi gives great advice similar to this of “spend lavishly on things that bring you joy, cut ruthlessly on everything else” and that mindset (even at the age of 20) has given me a lot of insight on how to say no and prevent myself from buying unnecessary items or taking on other expenses
I was going to mention the same thing. I think his message generally aligns but there’s some differences. I don’t think you should blame yourself for spending $19/week for coffee if you’re saving, investing, and covering your fixed costs. Decide what YOU want to do with your money.
I joined the Marines almost 10 years ago and oddly enough one of the first important lessons I learned when I started earning more money was to live below your means, more importantly live how you lived before you were promoted to the next rank. In other words, just because you make more money doesn’t mean you need to spend more money!
Currently Active Duty Air Force for 3 years and I adopted the same mindset last year. I realized that I was spending way too much money and living way above my means. I went back to "living the struggle" like I did before I joined and went from ~1k in a checking account to ~18k across Checking, HYSA, and investments in 8 months.
love how u talked about investing earlier in life and the idea of compound growth. Its crazy how much money can grow if u just dont spend and invest early.
Exactly, my friends think I'm crazy when I said I just $5k of T-Mobile stocks last week. When I show them the YoY returns and the amazing dividends, they think I'm too good for them and get jealous.
im in my mid 20's with debt from stupid decisions and i hope everyone here takes your advice, trust me guys its not worth it, learn financial literacy and practice it, you dont have to be like the extreme cheepskate people but just be smart and have restraint you will be so grateful
I put money aside and put it in the stock market (use it as a savings account so I can make money I while I put money in) is that a bad idea? What are some cons to it?
I have a strict budget of spending 10 bucks a day at the most. It's helped a lot. I went a couple months without a job and doing gig work and I'm still not living paycheck to paycheck. I use apps and coupons and wait for a good deal or make food from going to Dollar Tree I also bought a used car so I don't have a car payment. Once you get to living below your means. It's amazing!
I'd love to hear more! what kind of gig work are you doing?? I am also a classic thrift store shopper haha. It gives us more freedom than we'd have otherwise!
@@whylearntech I been delivering packages with Amazon Flex. It's not bad but it pays decent and you get the work out of the way in one go. The pay averages from $58 minimal- $150 the most. i usually avoid any offers below 80 dollars. It's also up to like 4-5 hours at the most working. I also do Walmart Spark for closer areas delivering Groceries. I'm trying to get on part time at a place walking distance so I can save my car though. But it hasn't been bad though and it's possible as a good side hustle and there's always work everyday
@@whylearntech I mainly do Walmart Spark and Amazon Flex. Delivering Packages/ Groceries to peoples houses. It's not bad but you gotta have some discipline but Flex has offer from 58-150 dollars. I just avoid the low ball orders and Spark is extra cash. It's honestly not too bad
Keep going! When I first transitioned to full time freelance I made a budget sheet to track how much of a % I was spending in each category of my life and wow was it a slap in the face. I slowly pivoted to a similar $10 a day method and now I have a great peace of mind knowing I’m living within my means and focusing on the future
FYI dollar general and potentially dollar tree also prey on poor areas by charging more. If you can at all help it, compare how much you would save from buying 6 or so of the same item in slight bulk at Walmart or Aldi for comparison. Best of luck out there.
31 y/o Make 51k All my monthly bills including rent is about 1350-1450 Take home per month 3330$ So I have about 1980-1880$ to spend on food, hobbies, investing. I don't date, don't have any pets, don't go out to drink, no kids no car payment and when I did it was 225$ a month (2016 Scion TC) I write down a budget monthly. I decided after my last relationship to stop chasing women, chasing rejection and simply start chasing my dreams. Stack that money kings.
This is easily my favourite video of yours. People don't realize how much wealth can be built by keeping personal burn rate as low as possible on a monthly basis, and just investing the rest in a simple index fund. Social media doesn't help with the "status perception" of luxury items and other bs. None of that matters, nobody cares. To anyone reading this, save and invest as much as you possibly can, your future self with thank you 100x over.
You hit the nail on the head with everything you said. One thing I would like to add though is don’t be afraid to spend more (invest) on some things. Being frugal all the time can sometimes tunnel vision you from your better options. If something costs more but is better quality and will last a lot longer, you should probably consider spending more on the better product/service. This may sound common sense, but I know how tempting it can be to always be looking for the cheapest option with stuff.
I'm almost 23, I owe around 1k in credit card debt and around 12k in student loans. Driving for uber eats has been my main source of income, obviously it wouldn't be enough to get by if I didn't still live at home. Thankfully my car is paid off and I'm still on my dad's policy so that saves me a lot of money every month. I'm supposed to start work in a few days, it'll be my first ever full time job above minimum wage so I'll have to stop myself from making unnecessary purchases (I'm guilty of doing this a lot). I'll have to keep coming back to this video to remind myself to stay frugal and not go overboard with spending. I hear the same things a lot from older family members but it helps a lot hearing it from someone near my own age.
Congrats on landing a steady job! I find that what helps me restrain my spending in our lower-earning years is to frame your spending as a portion of your time - if you make 15 dollars an hour before taxes, would you be satisfied with spending $5 or a third of an hour of your time (before taxes!) on a sandwich for lunch? If someone said "thanks for working for X minutes, here's Y thing in compensation," would you take that alternative? It'll really check your behavior and help you cut down on impulse buying. I myself was really good about that but over time started to forget that perspective, so now I'm trying to remind myself of it when I feel tempted to buying something I recognize as pointless.
28M and 28F married couple with $500k plus net worth. We’ve both had some luck but most would’ve spent the excess money the way you described. We do spend but only on travel. I drive a 20 year old car with 200k miles with no plans for an upgrade. Be disciplined and stay the course. I’ve been investing for 10 years and have never once timed the market! Anyone can do it!
That’s awesome just don’t forget that having a 200k mile car still running is a blessing I’m on my 4th car non of them made it too 150k and I did the maintenance and everything on them
@@notreallyafamousartist695 Same reason i'm on it over 500k net worth between two people getting into their 30's is doable. Dual income no kids and having the youtube algorithm match that type of person to a video talking about it.
I absolutely loved this video, I am currently a Senior in College about to graduate and have a Mechanical Engineering job lined up. My family and friends pressure me to "Live life and spend money" but all I really wanna do is invest and set myself up for the future.
I love that more content creators are talking about. This especially younger men being inspirational for other young men when society kicks dirt at us. I am doing the same. Have no college debt, car payment, and just my mortgage cause of my decisions. Another thing to do is learn to cook and make a budget. There are zero excuses this day to not budget with all free tools. Also do not move out right away from your parents if you are able. Who cares if women think it is lame. You will be not in debt while her and others are.
I have been living frugal in my 20s after making some dumb financial decisions or potential ones. Almost bought a house for 450k with a 3k mortgage. Financed a 30k can-am and 30k pick-up. Well, I have now paid off my can-am and pick-up, and moved in with some roommates and renting. Just stacking bread. But it’s funny I’ve just seen this video, because I almost bought a 50k truck and now this video reminded me that’s a dumb idea! Thank you and Happy Thanksgiving! God bless.
I've been watching you for a couple months now, your channel reminds me of those old Call of Duty commentaries that I used to watch when I was in middle and high school, it made me try out this commentary thing again! I'm going to focus on finance as that's what I'm interested in. Great video, and there's a lot of good information here. I managed to save a lot of money by staying with parents and not really spending on anything other than some vacations here and there. Hope to see more financial related content from you in the future!
Ever since 2023, ive stopped excessively spending money. When you said "Live for experienced, not things" IVE BEEN SAYING THIS FOR THE LAST YEAR Bro out here giving some amaazing advice. Im living out in Japan rn for the year and after i go back to the states, ima start building an emergency fund, investing in the S&P 500 and i keep buying used/discounred stuff. I find it fun being able to travel/experience new things and not feeling like i need be stingy with miney because i was able to save an adequate amount prior to traveling
i agree! Save and invest... I see people just "surviving" by spending all the money the make each month.. "plan like you'll live forever, live like you'll die tomorrow" it's all about balance.
I am 17, and have always had this mindset. BARE MINIMUM. I want to go straight into work as an electrician apprentice and just save and invest money so I can create enough capital to build something of actual value that will allow me to generate even more income. I dont understand how more people dont think this way. I truly hate spending money and unless its like you said an experience such as a trip or a date, id rather have more money in my pocket to invest in my future rather than some random materialistic possessions.
Yes, keep this mindset its hard now but it will be so worth it later on. I grew up watching everyone around me struggling, having kids way to early, or getting a hellcat. I even have one friend that got over 10k in credit card debt while living rent free with their parents. not everyone is built for the bare minimum but its better than growing old and only being able to afford the bare minimum later
One very important thing you need to know young: do NOT take dates out to do things *you wouldn’t normally do for yourself*. You’re telling yourself subconsciously that she’s above you and you’re pedestalizing her. This is a fatal error. Instead, find a girl that wants to do what you already do for yourself with you. Also, learn to treat yourself, movies, travel, experiences *without* friends or women. You must learn to pamper and treat yourself very very well. This keeps your self image very high and that confidence will take you very far and you won’t be exploited by others who try to manipulate you through love bombing/hot and cold treatment
I really enjoyed this video. Though I didn't learn much since I have watched almost every big financial YT personality over the past 5 years, it is good to see more people talking about this. I too lived with my parents for a long time in my 20s and had multiple health issues (I am 26 now). Remember that the 3 biggest costs for people are food, housing, and transportation. Living with roommates, buying cars in cash and buying a used car that is reliable, and cooking at home will save you TONS of money in your 20s. Investing the money you have left over, as mentioned in the video will net you hundreds of thousands or even millions of dollars in your later years. Time is your best friend when investing. If you start investing when you are 22, you will have 2X the amount of money when you retire compared to someone who started investing at 30 (given the monthly contributions and the age of retirement are the same). It is also best to do this before you get kids because once you have kids your expenses will skyrocket.
It’s insane how overlooked and crucial saving in your early years really is. I’m 21 and was working a couple months after I turned 16 and worked until I recently went from CC to a university. I always grew up with family always telling me to save while you’re young but also spend from time to time. (Glad I took their advice). I miss working but when I was, I was able to invest and my money has doubled and still steadily growing. Still not stopping even when the time comes for when I hit $100k but ideally aiming for that goal before I’m 25, already more than halfway through that goal.
this video perfectly describes how im living life in my early 20's rn and it allows me more freedom to work on my physical health and my creative endeavours aka youtube and im the happiest ive ever been as a result
I was raised by my grandpa, who was born in 1943. Both his parents were raised during the Great Depression. I've never seen him make any bad money choices. I've adopted those ideas and simply don't buy anything I don't need. I thought he was so cheap as a kid but now it all adds up lol.
Honestly in my early 20s and used to spend a lot on stuff or fast food don’t need and now I bike to work not uber much even I put electric bike conversion kit on my bike. I’m 22 still doing part time at job and saving up for used car
Electric bike conversion is smart good job. Vehicles can be a huge waste of money for many people. Gas, maintenance, car insurance, loan payments, parking fees. Brutal
I'm 23 and this gives me some hope because I feel pretty similar to you and my family have always kind of called me cheap or ask why don't you go anywhere or spend money? I think honestly I picked this up from video games as a kid 😂. Always gotta save as much as possible because you will totally need it later
I think it isn’t just about the saved money but the stress free feeling knowing that I’m not living pay check to paycheck. A buddy of mine bought a car that’s a years salary for him before taxes and it’s great but wow he’s in some serious debt
you pretty much described my life as a young 23 years old... living with room mates , as you said , i saw some guru once on youtube short saying income outflow is almost more important than the outflow and i totally agree with that . i have a decent amount invested . i feel like i was kind of fortunate to be growing up middle class ish lower middle class cause for me like you said making car payements will never make sense ... its like if i dont have the money to pay it why would i buy it , im also the youngest of 6 siblings and i can see all the mistakes from siblings and my parents so i def learn from that or atleat try , tbh my biggest expenses gotta be my food bruh im a big eater and a gym bro so yea... but i feel good so whatever
@@truthtelleranon not even tbh dud haha i just buy whats on the low sometimes its chicken , some times pork but i do love me some good veal , lamb or regular steaks even without discounts
I’m sure others have commented this but you have a really soothing/calming voice. It’s nice to listen to. Man was playing that COD zombies game in my early 20s.
Excellent content man! Great advice for those in their early 20’s. I’m a total cheapo myself, but in doing so was able to get married (pretty sweet venue too), buy a house, and have a kid - with number 2 on the way… all by the age of 27. Long story short - and similar to what is said in this video, live below your means, dollar cost average into the market with what you can after having an emergency fund, and find ways to become more marketable / make more money where you can through education and networking.
i like how people in the comments are sharing their current age and financials, interesting to see how others around my age are doing. my only advice that i don't see anyone else mention is that you probably don't NEED a car. cars are a luxury but a lot of people view it as a necessity like food or shelter. bike, walk, bus, or train if you can. it's either free or much cheaper while being much healthier, both physically and mentally
Agreed, transportation is optional based on a couple of things. Commute to work that doesn’t offer public transportation or the distance to work is too far for a bike. Another is the weather might hinder bike riding in certain areas.
If you live in North America you pretty much need a car, unless you live in one of the few cities that have good transit, like New York. I live in Montreal, arguably one of the best cities for public transit and cycling, and I still need a car to get to work.
I’m 25 now and I saved a lot by not having a car payment for the last 4 years. It’s outrageous paying $500 a month for 6+years when you can find a cash car for 3-4k maybe even less
Living with other people opens up your future ten fold. If you can divide your necessities by 2 3 or even 4 other people, becoming successful is almost inevitable. Rent is extremely cheap, food in bulk is extremely cheap (Costco) wifi, utilities, sharing monthly services, etc etc. living with other people is annoying tho obviously but if you find people you like and can trust, that’s your ticket. That’s why I think kicking out your kids to “become adults” is stupid especially if your kid holds a lot of ambition. If you can trust your kid to steer his future, giving him cheap rent and food will pay dividends.
And what you said about living cheap to invest is very true, but I also wanna add cheap rent allows you to invest what you shouldn’t be able to. Im able to invest 60% of my current income and my quality of life isnt any worse. Investing is how the average man becomes rich and you must start early, so grateful that my parents allow me this opportunity especially when I’m still so young
im the same way and I dont enjoy spending in excess whatsoever but as a guy dating and just maintaining my current relationship almost forces me to spend sometimes and I wish that wasn't the case
This is why I am going to stay single for a while, probably for life. Since women make all the money now, they can pay for my lifestyle while I stay home and make crockpot meals and have my wants paid for. It doesn't make any sense to date unless you make upper middle or higher tier salary. Even then, you're gonna wish you could keep more of the money instead of spending it on things to keep ur girl happy. fuck that.
You can also just try to take girls in dates that are (almost) free, like taking a walking and just chatting. If a girl really is into you i think that she wouldn't mind not spending money
@ your 100% right and this was basically my girlfriend and I’s first date, but she has to be into you for it to work or you’ll be in the most awkward situation ever
bro. listen to me now. i’m an Unc. go watch Coach Greg Adams immediately. you need to realize this woman will stunt your growth dramatically and all that you’re investing will have zero ROI! you need to seriously seriously consider leaving this relationship. the woman who you’re with’s spending habits will dictate your success in life. listen to me!
Love the content man I’m 20 and all your vids have been very insightful and love the vibe that you bring and yes I would also like to see a video where you go more in depth about investing like you were talking about in this one. Have great day man keep it up!
I did this for a while too. Became a software eng after college and lived with my parents for 2.5 years. I pretty much just pocketed my paychecks and put them in an investment account that is worth north of 6 figures now. I also bought a used car with about 10k miles for less than 20k. But I live in a HCOL area and now am paying some pretty high rent - I think it might of been a mistake but I'll see how it goes.
The cost of living is so brutal man. I make $80k a year and i profit $0 a month due to debt. Once that's paid off itll be a whopping $500 a month. I have 0 discretionary spending throughout the month. Just counting on raises at this point. The main pain is rent cause mine is $2200 / mon (lowest i can find is $1900 with a significant decrease in QoL. I make too much for the asissted living places)
I'm 23 I graduated with a CS degree last year. I work in Tech support now, if I knew what I know now about the tech industry, I would not have went to college and got berried with student loans. I definitely have an uphill battle. Working on advancing in career now so I can aggressively pay off this debt.
what you mention at 8:35 was the key difference for me -- I had my son at 22 in college and that's changed my financial trajectory since then. I'm also 28 so we're on the same timeline, but I've definitely had to spend more on giving my kids (had the second in 2021) the life they deserve while still balancing my own wants and needs. I definitely don't have 6 figure savings and investments right now, but I have a home I can afford and am slowly building those things up finally. day care is mad expensive dude (talking $3500/month for 2 kids) also don't underestimate the impact of shared values with your significant partner!! we've agreed to live a largely frugal life, but still splurge on vacations because that's what we value right now. if she didn't agree to that I think it'd be sooo much harder to live frugally if I had to constantly guard all the cash that we use.
New sub, I’m from the old MW2 Era thank you for the knowledge and advice 💯you seem to be a very mature young man aswell I wish I had more friends that thought like this I am trying to break out from my old chains of life and I’m slowly doing that. Slow motion is better than no motion I simply want to prepare to be good in life
Thank you for sharing your wisdom. I agree completely and I much more prefer to have the freedom than for example pay monthly for a fancy car, which I would only drive 5% of the time anyway
Fortunately I grew up poor so when I surpassed 100k per year for my salary I lived very frugal. Got a house and a car but anything that isn't something I don't need, I don't buy. Essentials only and from time to time I'll do something nice for myself.
I’m 23 bought a cheap car and make almost 60k a year in a plumbing trade. I not finished trade school yet, I also bought a work van and started my own business doing drain cleaning it’s been going well so far
This is a great video and perfect timing for me, I’ve been a cheapo all my life too but got a nice payrise at the end of 2023 and have noticed myself making silly purchases this year (although I will never buy an expensive car). 2025 is my year of frugality lol
I was already relating to you throughout the vid, but when you said your rent was $1500 in Milwaukee as a software engineer that’s exactly what i’m paying for rent and doing for work in Milwaukee now. Coincidence
Another think with school is to go somewhere cheaper. My tuition is about 10k a year which isn’t crazy cheap but it’s good. I took a gap year and saved about $20k and have some scholarships and money from my parents that should help get me through the degree: if you can, live at home as long as you’re not making great money. Another benefit of some schools are coops or internships where you get paid at school, in my degree (electrical engineering) most students with coops will make another $80k throughout their degree, paying for school and starting their savings. I plan to do this and I will definitely not ball out immediately
I make $130k at 26. I live with my parents and work at my cousins restaurant for a couple of evening as a delivery driver in a lucrative area. All my friends think I'm crazy that I haven't brought a brand new M3/M4 and I still rock my 10+ year old Genesis Coupe from Highschool. I love looking for deals and flying Spirit. Meanwhile one of my broke friends have cars that cost more then their salary and rather spend money on $3k+ wheels and not put it in their 401k. Told bro have you thought of retirement and told me he isnt worried about it since he is young at 24.
Don't forget to also allocate a percentage of your spending you will willingly decide to use for fun. I came from the opposite end, once I got a good job after being so frugal it was important to thoughtfully push myself to experience more of life by using that new expendable income. 30% is a healthy rule for fun, but that might have to be cut a bit if rent/essentials are over 50% of one's monthly net income.
I think someone no one ever talks about is that being handy will save you boucoup bux in the long run of life. I consider myself a pretty amateur repairman (except for when it comes to cars, I was a mechanic in my previous job..) I have a 30 year old truck for work, and a 35 year old civic for pleasure. All maintenance (timing belts, fluid changes, etc.) is done by me. it saves a huge chunk of cash when you can do things yourself. My wife has a 20 year old element for herself. The transmission in her element keeled over and died at 330k miles. I bought a rear end wrecked CRV for $700, swapped in the transmission over the course of a week and pulled the engine for spare parts (which I am glad I did because the alternator died about a week later) then sold the body and bad transmission for $450 to a scrapyard. Being frugal also means that you are also self-sufficient to a degree.
I'm 25 and made an important decision 2 years ago to move from my country's capital (where i'm from) to one of the least expensive major cities in my country. I was fortunate with a few things, but the difference in quality of life that is afforded to me is night and day. I budget, but i know that i dont have to stick to the budget every month like i used to have to over fear that i'd be completely broke. Now, I'm eyeing up buying a house in this city within the next year or so, due to the much reduced cost of living and property prices compared to back home. I definitely had some good luck, but it is possible with the right mindset and discipline. My advice - don't feel like you are contained to live somewhere expensive and beyond your means. The smaller places are brilliant too, the people are often better, and there's more opportunity to climb the ladder of life. I still see so many friends from back home live in the worst conditions despite having "success" at their jobs, I can't justify that, personally.
Altough i 100% agree with you, remember that the stock market can crash soon and if that happens it could take years or decades for your stocks to be at the same price again you bought them in the first place. Altough the exponential grow is insane i wouldnt invest all my money just in stocks, like you said crazy times..
norms dont understand that having low cost of living in your early-mid twenties is an opportunity to save and not an opportunity to indulge in reckless spending.
22 year old here, graduated with a degree in healthcare 5 months ago and got a job with a 63k salary and 2-3 days remote work. I still live with my parents, and have no living expenses besides just streaming services. i feel very fortunate and happy to be where I am today, and I hope I can make the most of this opportunity and save as much as I can while I can. I hope to start UA-cam one day, especially since I work from home majority of the time. I hope everyone may find the path to thrive in life. good luck everyone!
I lived in a moldy apartment for 8 months because it was 200 euros a month less than other apartments. Needless to say I moved out early and lost my deposit. You can actually lose money when you’re trying to save if you do it incorrectly.
Be careful of some old cars, my 98 accord was a money pit and always had me spending almost more than a car note would, kept me from saving at times due to my circumstances. Couldn’t lease a car back then because I got a credit card late at 21 instead of at 18. I never went into debt just didn’t have credit history. Live frugal but don’t spend more money into things because it was cheap, it might not last as long as you think it will.
I'm 26 now. I basically always spend everything I had. Even if I would put just 100€ aside each month it would be a financial help later. Really regert not managing my money more responsible.
I'll do you one better. I never bought a car in my twenties. I bought a bike with some scholarship money and the monthly bus pass was only about $75. It's too bad more people can't even realistically consider these options. Anywho, I like your advice.
You know I’ve heard this all before, and I like realize I need to do better, but I don’t. I think hearing this from someone closer to my own age though…. really kind of hit me, and now… I have some work to do.
Turned 24 earlier this year, got out of military 2 years ago and have 86k in hysa. Plus a forever passive income 🤝🏽 I'll probably go back to the work life come January or February. For now I play as much pc games as I want after gym 🤠
Spy etf is your best bet. Don't invest in individual stocks unless you can dedicate a large amount of your time to it. And even then its likely you wont out perform the market.
Thanks for the advice once again, do you have any tips on being motivated? I feel like in my 20’s, it’s very tough to want to just “do it”. I want to be way more motivated.
When i first began working about 7 years ago i had nothing. My savings started growing after my first year id saved about 10k and all i wanted to do was blow it all on a car since my car was an old beater (banger in Uk). All my friends were getting the nice cars on finance (bmws etc) but i resisted the urge. 6 years later my net worth is now about 120k usd, or 100k gbp at 30 years old. Thats from being on average salary jobs. Also i did pay about 11k for a car around 2 years ago which was a huge step up in vehicle for me. But i paid it in cash. Only thing i wish i did better was using the stock market, i did use the stock market to make around 3k total but i could have made a lot more. Instead i played it safe and used savings accounts from banks But i could have made at least 30k more from staying in the stock market
Literally impossible to live cheap in this economy. It cost more to just feed myself than i used to pay for my apartment and food combined. I could get by spending 250$ on food a month. Now i have to spend $600 just to be able to have more than one meal a day sometimes. My first apartment only cost $700 a month in 2019. Now that same exact apartment is going for $2400 plus fees just 5 years later
I just turned 21 I didn’t get a job that makes 90 k starting so I’m very bummed about that. Im going to be a 3rd year college student. I like to spend money because I never had it when I was younger. But now I’m starting to realize I need to move out and get my own place and really evaluate my habits. Sometimes I question if finishing college is worth it but my family always emphasized getting a good paying white color job because blue collar destroys your body. I have a gf so I’m definitely motivated to get a nice lifestyle for both of us.
I can tell you for a fact you remember the more expensive car if you know why you’re getting the expensive car. It’s hard to forget a twin turbo v8 making 900 hp
I own a 98 Jetta with 160K miles a laptop a ps4 and a older iPhone. "I'm in my last 20's" What else could a guy need? My monthly spending is under $100 "for small wants" and I do live with people. I save 65% of my paychecks and what I can say is in the last few years I have seen a difference! XD
22 here. It is drastically harder to save money when you put yourself in debt with a car note, premium gas & insurance monthly note included! If you are living with your parents please don’t feel ashamed. There is nothing wrong with that if you still provide/ bring something to the table! Cut down on vices & don’t chase women constantly. Save every dollar
My honest advice is do not move out of your parent's place unless you are moving specifically for a key pivotal career move or you are making at least 100k a year. We currently have the worst housing to income ratios and worst waves of inflation in modern history.
Hey there WhyLearn, thanks for the advice! I save as much as I can and recently started a Roth IRA, I’m 24 so I feel a little bit behind but I guess it could be worse. I wanted to ask, have you thought about making a video about prioritizing mental health over a job, relationship, situation, etc.? The reason I ask is because I’m in a job right now that while yes, it does pay well at $60k/yr, I am just miserable coming in everyday. I recognize I’m only 3 months in and that it may take time, but I don’t know how much time my mental health has. Still living at home so if I did leave, I’d be more than ok with $31k saved up. Do you have any insight on this? Keep up the awesome work :)
I'm turning 29 soon. I make over 100k a year. Have been making 50k+ the majority of my 20s. I am broke - for doing the exact opposite of what you did. I want to layout how I ended up here for younger people reading so that I can also put my two cents in.
I'm a car guy, love cars. I swapped around vehicles a lot in my early 20s, all super cheap but still. I should've bought the $1500 140k mile Honda Civic for my first when it was an option (good luck finding something like that today). Instead I wanted to have fun. I ended up landing on my fun car, I paid $5500 for it and it was low mileage. But then it started breaking a TON and I refused to give up on it. I'm $30k in on a $5500 car. It's fun, I love it, but I basically can't get rid of it and refuse to due to the money I've put into it and I know I'd just buy another later down the road. I ended up buying a certified preowned $29k car as a second reliable and good on fuel vehicle that I really wanted and it's been great. I don't plan on selling this one either and babying it. That payment however, HURTS.
I moved out of my parents when I was 18, but would return for months spurts between places. I had the option of living 100% bill free and I chose against it because I no longer wanted to say I live with my parents and have freedom. At one point, a girlfriend and I got an apartment that was cheap, but we weren't financially ready for it and when we broke up I ended up eating $5k in damages from that relationship and to the apartment (Another lesson - don't cosign for a loan for ANYBODY you're not married to or that is your child, and only do that then if you are fully prepared to pay that off). Fast forward a bit and I ended up in a good spot renting from a friend who had a finished basement with all amenities for less than $800 a month. I was in a very good spot for about 3 months until I decided to move 1k miles across the country to take up a new job. I thought I had someone moving with me so I locked in on a 2 bedroom. I thought I was going to be making LOADS of money and locked in on a $2200/m rent nothing included. That person did not move, and I was not making near as much as I thought. On top of that, I sold all my belongings before moving for cheap and with no savings. I ended up throwing things on a credit card with intent to pay them off quick, and I couldn't. I basically lived with a laptop, a bed, and a tv in a fancy empty $2200 house for a year just BARELY scraping by. I've since moved back and now live with my parents again. I've been here a few months. It's embarrassing, but nowhere near as embarrassing as it would've been in my early 20s, financially setup when I left. STAY with your parents if it's significantly cheaper and safe. If you do move out, do exactly as he says and move somewhere loaded up with roommates and stick it out.
Credit cards are the devil, forget the rewards. Buy now, pay later, also the devil. Pay everything you can humanly possible in cash. It's a massive downward spiral, and it's tough to control. Save an emergency fund, invest into your retirement and the stock market. I'm about 8 months away from being debt free, and you'll want it in your late 20s.
thanks so much for sharing this vulnerable story and things you'd do differently. It takes guts to do that, but i think this could help a lot of the young guys watching this video. This comment is loaded with golden advice. I might pin this
Credit cards are great if you are able to use it the exact same way as a debit card
i do use credit cards, you're right they have to be done responsibly and paid in full each month and some of them do have good benefits. If you know you won't be responsible with them, don't get them
@whylearntech could've made it a lot longer and I skipped a lot but it was getting too long I wasn't expecting people to read much further. Yes, if used properly credit cards are great. However, the majority of people won't have that self control, and you'll still want a good sum of cash saved up before doing so.
Credit cards are not the devil. You make them the devil by forgetting to pay or being unable to pay for what you bought. Don't buy what you can't afford at that moment. I've reaped hundreds of dollars in rewards by just going online and clicking 3 buttons to pay every month.
And not only is paying everything in cash tedious and stressful on its own, good luck trying to buy a car or house with 0 credit score. Good luck trying to get a loan.
A UA-camr with old cod gameplay in the background and providing a substance filled commentary is a gem for current day internet standards.
And does the fact that the commentary is voiced by AI undercut that at all?
is my voice that boring? lol
@@whylearntech i think your videos are amazing, keep it up man. Im glad u share these stories and tips with us
I watch news from optimus but there is so many that do gameplay and cover news which has been a redundant a formula for a good while now.
The Gameplay is the background/comfort the familiarity of it all, while rich wisdom and philosophy ensues our ears. Every once in a while the gameplay can be the focus and the pause that can be needed at times.
@@whylearntechas a 21 year old who grew up watching cod commentary videos this is heavily appreciated 😂
It's not called being cheap. Its called being financially disciplined.
cheap is a recontextualization that serves the capital owning and product producing class over laborers and consumers
Mah mertarel condities
It's called being broke
my friends call me a homeless person with a house. I make my own energy drinks for about 3 cents each, my phone only charges wirelessly and also never has storage, my car's bumper is completely falling off, my meals are all sandwiches. Saving money brings me so much joy because the financial anxiety is nonexistent when i'm saving 80% of my paycheck. nothing I buy could bring me more joy than the peace i have with my finances.
lol. i have definitely had similar words thrown at me. We are probably too cheap haha. But the peace of mind is worth it
You'll pay in the future with health issues because you eat garbage food.
How u make energy drinks
😂 I thought this was a joke for a bit good job. I thought I was frugal lol
bro how do you make your own energy drinks probably one of my biggest expenses xD
Ramith Sethi gives great advice similar to this of “spend lavishly on things that bring you joy, cut ruthlessly on everything else” and that mindset (even at the age of 20) has given me a lot of insight on how to say no and prevent myself from buying unnecessary items or taking on other expenses
I was going to mention the same thing. I think his message generally aligns but there’s some differences.
I don’t think you should blame yourself for spending $19/week for coffee if you’re saving, investing, and covering your fixed costs. Decide what YOU want to do with your money.
I joined the Marines almost 10 years ago and oddly enough one of the first important lessons I learned when I started earning more money was to live below your means, more importantly live how you lived before you were promoted to the next rank.
In other words, just because you make more money doesn’t mean you need to spend more money!
Thank you for your service
Currently Active Duty Air Force for 3 years and I adopted the same mindset last year. I realized that I was spending way too much money and living way above my means. I went back to "living the struggle" like I did before I joined and went from ~1k in a checking account to ~18k across Checking, HYSA, and investments in 8 months.
love how u talked about investing earlier in life and the idea of compound growth. Its crazy how much money can grow if u just dont spend and invest early.
Exactly, my friends think I'm crazy when I said I just $5k of T-Mobile stocks last week. When I show them the YoY returns and the amazing dividends, they think I'm too good for them and get jealous.
im in my mid 20's with debt from stupid decisions and i hope everyone here takes your advice, trust me guys its not worth it, learn financial literacy and practice it, you dont have to be like the extreme cheepskate people but just be smart and have restraint you will be so grateful
I put money aside and put it in the stock market (use it as a savings account so I can make money I while I put money in) is that a bad idea? What are some cons to it?
I have a strict budget of spending 10 bucks a day at the most. It's helped a lot. I went a couple months without a job and doing gig work and I'm still not living paycheck to paycheck. I use apps and coupons and wait for a good deal or make food from going to Dollar Tree I also bought a used car so I don't have a car payment. Once you get to living below your means. It's amazing!
I'd love to hear more! what kind of gig work are you doing?? I am also a classic thrift store shopper haha. It gives us more freedom than we'd have otherwise!
@@whylearntech I been delivering packages with Amazon Flex. It's not bad but it pays decent and you get the work out of the way in one go. The pay averages from $58 minimal- $150 the most. i usually avoid any offers below 80 dollars. It's also up to like 4-5 hours at the most working. I also do Walmart Spark for closer areas delivering Groceries. I'm trying to get on part time at a place walking distance so I can save my car though. But it hasn't been bad though and it's possible as a good side hustle and there's always work everyday
@@whylearntech I mainly do Walmart Spark and Amazon Flex. Delivering Packages/ Groceries to peoples houses. It's not bad but you gotta have some discipline but Flex has offer from 58-150 dollars. I just avoid the low ball orders and Spark is extra cash. It's honestly not too bad
Keep going! When I first transitioned to full time freelance I made a budget sheet to track how much of a % I was spending in each category of my life and wow was it a slap in the face. I slowly pivoted to a similar $10 a day method and now I have a great peace of mind knowing I’m living within my means and focusing on the future
FYI dollar general and potentially dollar tree also prey on poor areas by charging more.
If you can at all help it, compare how much you would save from buying 6 or so of the same item in slight bulk at Walmart or Aldi for comparison.
Best of luck out there.
31 y/o Make 51k
All my monthly bills including rent is about 1350-1450
Take home per month 3330$
So I have about 1980-1880$ to spend on food, hobbies, investing.
I don't date, don't have any pets, don't go out to drink, no kids no car payment and when I did it was 225$ a month (2016 Scion TC)
I write down a budget monthly.
I decided after my last relationship to stop chasing women, chasing rejection and simply start chasing my dreams. Stack that money kings.
It's sad 😢
@@bulka5305wats sad?
@@bulka5305What’s sad? Sounded amazing to me. He’s focusing on himself
This is easily my favourite video of yours. People don't realize how much wealth can be built by keeping personal burn rate as low as possible on a monthly basis, and just investing the rest in a simple index fund. Social media doesn't help with the "status perception" of luxury items and other bs. None of that matters, nobody cares. To anyone reading this, save and invest as much as you possibly can, your future self with thank you 100x over.
You hit the nail on the head with everything you said. One thing I would like to add though is don’t be afraid to spend more (invest) on some things. Being frugal all the time can sometimes tunnel vision you from your better options. If something costs more but is better quality and will last a lot longer, you should probably consider spending more on the better product/service. This may sound common sense, but I know how tempting it can be to always be looking for the cheapest option with stuff.
Just pay yourself first.
Sad that so few people do this...
I'm almost 23, I owe around 1k in credit card debt and around 12k in student loans. Driving for uber eats has been my main source of income, obviously it wouldn't be enough to get by if I didn't still live at home. Thankfully my car is paid off and I'm still on my dad's policy so that saves me a lot of money every month. I'm supposed to start work in a few days, it'll be my first ever full time job above minimum wage so I'll have to stop myself from making unnecessary purchases (I'm guilty of doing this a lot). I'll have to keep coming back to this video to remind myself to stay frugal and not go overboard with spending. I hear the same things a lot from older family members but it helps a lot hearing it from someone near my own age.
Congrats on landing a steady job! I find that what helps me restrain my spending in our lower-earning years is to frame your spending as a portion of your time - if you make 15 dollars an hour before taxes, would you be satisfied with spending $5 or a third of an hour of your time (before taxes!) on a sandwich for lunch? If someone said "thanks for working for X minutes, here's Y thing in compensation," would you take that alternative? It'll really check your behavior and help you cut down on impulse buying. I myself was really good about that but over time started to forget that perspective, so now I'm trying to remind myself of it when I feel tempted to buying something I recognize as pointless.
28M and 28F married couple with $500k plus net worth. We’ve both had some luck but most would’ve spent the excess money the way you described. We do spend but only on travel. I drive a 20 year old car with 200k miles with no plans for an upgrade.
Be disciplined and stay the course. I’ve been investing for 10 years and have never once timed the market! Anyone can do it!
That’s awesome just don’t forget that having a 200k mile car still running is a blessing I’m on my 4th car non of them made it too 150k and I did the maintenance and everything on them
So why even watch this video, I’m not buying it lmfao
That's definitely cap 😂
@@notreallyafamousartist695 Same reason i'm on it over 500k net worth between two people getting into their 30's is doable. Dual income no kids and having the youtube algorithm match that type of person to a video talking about it.
Curious what you do for a living?
I absolutely loved this video, I am currently a Senior in College about to graduate and have a Mechanical Engineering job lined up. My family and friends pressure me to "Live life and spend money" but all I really wanna do is invest and set myself up for the future.
sounds like your friends will be broke when they are 29, and you'll have 100k + saved and invested and then they'll be asking you for advice lol
I love that more content creators are talking about. This especially younger men being inspirational for other young men when society kicks dirt at us. I am doing the same. Have no college debt, car payment, and just my mortgage cause of my decisions. Another thing to do is learn to cook and make a budget. There are zero excuses this day to not budget with all free tools. Also do not move out right away from your parents if you are able. Who cares if women think it is lame. You will be not in debt while her and others are.
I have been living frugal in my 20s after making some dumb financial decisions or potential ones. Almost bought a house for 450k with a 3k mortgage. Financed a 30k can-am and 30k pick-up. Well, I have now paid off my can-am and pick-up, and moved in with some roommates and renting. Just stacking bread. But it’s funny I’ve just seen this video, because I almost bought a 50k truck and now this video reminded me that’s a dumb idea! Thank you and Happy Thanksgiving! God bless.
I save a paycheck per month and save 100% from my second job. Not for everyone but it pays off
theres a lot of avenues you can take to save that extra money! Props to you for finding a way and not making excuses
I've been watching you for a couple months now, your channel reminds me of those old Call of Duty commentaries that I used to watch when I was in middle and high school, it made me try out this commentary thing again! I'm going to focus on finance as that's what I'm interested in. Great video, and there's a lot of good information here. I managed to save a lot of money by staying with parents and not really spending on anything other than some vacations here and there. Hope to see more financial related content from you in the future!
Ever since 2023, ive stopped excessively spending money. When you said "Live for experienced, not things" IVE BEEN SAYING THIS FOR THE LAST YEAR
Bro out here giving some amaazing advice. Im living out in Japan rn for the year and after i go back to the states, ima start building an emergency fund, investing in the S&P 500 and i keep buying used/discounred stuff.
I find it fun being able to travel/experience new things and not feeling like i need be stingy with miney because i was able to save an adequate amount prior to traveling
i agree! Save and invest... I see people just "surviving" by spending all the money the make each month.. "plan like you'll live forever, live like you'll die tomorrow" it's all about balance.
I am 17, and have always had this mindset. BARE MINIMUM. I want to go straight into work as an electrician apprentice and just save and invest money so I can create enough capital to build something of actual value that will allow me to generate even more income. I dont understand how more people dont think this way. I truly hate spending money and unless its like you said an experience such as a trip or a date, id rather have more money in my pocket to invest in my future rather than some random materialistic possessions.
Yes, keep this mindset its hard now but it will be so worth it later on. I grew up watching everyone around me struggling, having kids way to early, or getting a hellcat. I even have one friend that got over 10k in credit card debt while living rent free with their parents.
not everyone is built for the bare minimum but its better than growing old and only being able to afford the bare minimum later
One very important thing you need to know young: do NOT take dates out to do things *you wouldn’t normally do for yourself*. You’re telling yourself subconsciously that she’s above you and you’re pedestalizing her. This is a fatal error. Instead, find a girl that wants to do what you already do for yourself with you. Also, learn to treat yourself, movies, travel, experiences *without* friends or women. You must learn to pamper and treat yourself very very well. This keeps your self image very high and that confidence will take you very far and you won’t be exploited by others who try to manipulate you through love bombing/hot and cold treatment
what do you invest in?
I really enjoyed this video. Though I didn't learn much since I have watched almost every big financial YT personality over the past 5 years, it is good to see more people talking about this. I too lived with my parents for a long time in my 20s and had multiple health issues (I am 26 now). Remember that the 3 biggest costs for people are food, housing, and transportation. Living with roommates, buying cars in cash and buying a used car that is reliable, and cooking at home will save you TONS of money in your 20s. Investing the money you have left over, as mentioned in the video will net you hundreds of thousands or even millions of dollars in your later years. Time is your best friend when investing. If you start investing when you are 22, you will have 2X the amount of money when you retire compared to someone who started investing at 30 (given the monthly contributions and the age of retirement are the same).
It is also best to do this before you get kids because once you have kids your expenses will skyrocket.
It’s insane how overlooked and crucial saving in your early years really is. I’m 21 and was working a couple months after I turned 16 and worked until I recently went from CC to a university. I always grew up with family always telling me to save while you’re young but also spend from time to time. (Glad I took their advice). I miss working but when I was, I was able to invest and my money has doubled and still steadily growing. Still not stopping even when the time comes for when I hit $100k but ideally aiming for that goal before I’m 25, already more than halfway through that goal.
hell yeah! you’re way ahead . keep it up
this video perfectly describes how im living life in my early 20's rn and it allows me more freedom to work on my physical health and my creative endeavours aka youtube and im the happiest ive ever been as a result
heck yeah. I feel the exact same at the moment as well. Good luck on your new channel! loving the commentaries
@@whylearntech god bless🙏
this is so funny because i'm 20 and my biggest expense (other than rent) is probably my youtube channel
hell yeah dude
This vid is a gem, esp with the old cod gameplay and so much good advice, I’m def subbing. Keep it up man!
I was raised by my grandpa, who was born in 1943. Both his parents were raised during the Great Depression. I've never seen him make any bad money choices. I've adopted those ideas and simply don't buy anything I don't need. I thought he was so cheap as a kid but now it all adds up lol.
Honestly in my early 20s and used to spend a lot on stuff or fast food don’t need and now I bike to work not uber much even I put electric bike conversion kit on my bike. I’m 22 still doing part time at job and saving up for used car
Electric bike conversion is smart good job. Vehicles can be a huge waste of money for many people. Gas, maintenance, car insurance, loan payments, parking fees. Brutal
I'm 23 and this gives me some hope because I feel pretty similar to you and my family have always kind of called me cheap or ask why don't you go anywhere or spend money? I think honestly I picked this up from video games as a kid 😂. Always gotta save as much as possible because you will totally need it later
I think it isn’t just about the saved money but the stress free feeling knowing that I’m not living pay check to paycheck. A buddy of mine bought a car that’s a years salary for him before taxes and it’s great but wow he’s in some serious debt
you pretty much described my life as a young 23 years old... living with room mates , as you said , i saw some guru once on youtube short saying income outflow is almost more important than the outflow and i totally agree with that . i have a decent amount invested . i feel like i was kind of fortunate to be growing up middle class ish lower middle class cause for me like you said making car payements will never make sense ... its like if i dont have the money to pay it why would i buy it , im also the youngest of 6 siblings and i can see all the mistakes from siblings and my parents so i def learn from that or atleat try , tbh my biggest expenses gotta be my food bruh im a big eater and a gym bro so yea... but i feel good so whatever
buy that food on the cheap! whole foods. but you’re in the gym so i know you’re a sucker for grass fed and organic like me 😂
@@truthtelleranon not even tbh dud haha i just buy whats on the low sometimes its chicken , some times pork but i do love me some good veal , lamb or regular steaks even without discounts
@@truthtelleranon i do get the raw honey tho lmaoooo
I’m sure others have commented this but you have a really soothing/calming voice. It’s nice to listen to. Man was playing that COD zombies game in my early 20s.
Excellent content man!
Great advice for those in their early 20’s. I’m a total cheapo myself, but in doing so was able to get married (pretty sweet venue too), buy a house, and have a kid - with number 2 on the way… all by the age of 27.
Long story short - and similar to what is said in this video, live below your means, dollar cost average into the market with what you can after having an emergency fund, and find ways to become more marketable / make more money where you can through education and networking.
i like how people in the comments are sharing their current age and financials, interesting to see how others around my age are doing.
my only advice that i don't see anyone else mention is that you probably don't NEED a car. cars are a luxury but a lot of people view it as a necessity like food or shelter. bike, walk, bus, or train if you can. it's either free or much cheaper while being much healthier, both physically and mentally
Agreed, transportation is optional based on a couple of things. Commute to work that doesn’t offer public transportation or the distance to work is too far for a bike. Another is the weather might hinder bike riding in certain areas.
Totally false. Completely depends on the city you live in.@@RolandKoller90
If you live in North America you pretty much need a car, unless you live in one of the few cities that have good transit, like New York. I live in Montreal, arguably one of the best cities for public transit and cycling, and I still need a car to get to work.
I’m 25 now and I saved a lot by not having a car payment for the last 4 years. It’s outrageous paying $500 a month for 6+years when you can find a cash car for 3-4k maybe even less
Living with other people opens up your future ten fold. If you can divide your necessities by 2 3 or even 4 other people, becoming successful is almost inevitable. Rent is extremely cheap, food in bulk is extremely cheap (Costco) wifi, utilities, sharing monthly services, etc etc. living with other people is annoying tho obviously but if you find people you like and can trust, that’s your ticket. That’s why I think kicking out your kids to “become adults” is stupid especially if your kid holds a lot of ambition. If you can trust your kid to steer his future, giving him cheap rent and food will pay dividends.
And what you said about living cheap to invest is very true, but I also wanna add cheap rent allows you to invest what you shouldn’t be able to. Im able to invest 60% of my current income and my quality of life isnt any worse. Investing is how the average man becomes rich and you must start early, so grateful that my parents allow me this opportunity especially when I’m still so young
Im in the exact same position as you, I dont really care what others think because I value my financial freedom more then anything else!
im the same way and I dont enjoy spending in excess whatsoever but as a guy dating and just maintaining my current relationship almost forces me to spend sometimes and I wish that wasn't the case
This is why I am going to stay single for a while, probably for life. Since women make all the money now, they can pay for my lifestyle while I stay home and make crockpot meals and have my wants paid for. It doesn't make any sense to date unless you make upper middle or higher tier salary. Even then, you're gonna wish you could keep more of the money instead of spending it on things to keep ur girl happy. fuck that.
@@raderT90 lol
You can also just try to take girls in dates that are (almost) free, like taking a walking and just chatting. If a girl really is into you i think that she wouldn't mind not spending money
@ your 100% right and this was basically my girlfriend and I’s first date, but she has to be into you for it to work or you’ll be in the most awkward situation ever
bro. listen to me now. i’m an Unc. go watch Coach Greg Adams immediately. you need to realize this woman will stunt your growth dramatically and all that you’re investing will have zero ROI! you need to seriously seriously consider leaving this relationship. the woman who you’re with’s spending habits will dictate your success in life. listen to me!
Love the content man I’m 20 and all your vids have been very insightful and love the vibe that you bring and yes I would also like to see a video where you go more in depth about investing like you were talking about in this one. Have great day man keep it up!
Thank you :) Made the video on investing a few days ago! Check it out:)
I did this for a while too. Became a software eng after college and lived with my parents for 2.5 years. I pretty much just pocketed my paychecks and put them in an investment account that is worth north of 6 figures now. I also bought a used car with about 10k miles for less than 20k. But I live in a HCOL area and now am paying some pretty high rent - I think it might of been a mistake but I'll see how it goes.
Look AROUND your city (not in your city) to see if there are other cheaper places for the same space
@ everywhere around here is expensive
@@MRTOMMY42069 California Bay Area?
@@MRTOMMY42069roommates bro. trusttttt me. reduce your rent bill asap. or find a way to work from a cheaper place.
Listeing to this is like being in 2010 again, cheers!
And I agree, low time preference speaks for itself with enough time.
Im 22 with no kids two small dogs live on my own i needed this thank you man 👍💯
The cost of living is so brutal man. I make $80k a year and i profit $0 a month due to debt. Once that's paid off itll be a whopping $500 a month. I have 0 discretionary spending throughout the month. Just counting on raises at this point. The main pain is rent cause mine is $2200 / mon (lowest i can find is $1900 with a significant decrease in QoL. I make too much for the asissted living places)
life out of a prius bro. look it up they're called prius dwellers
Where’s your other $53,600?
I'm 23 I graduated with a CS degree last year. I work in Tech support now, if I knew what I know now about the tech industry, I would not have went to college and got berried with student loans. I definitely have an uphill battle. Working on advancing in career now so I can aggressively pay off this debt.
you got this. keep costs low, advance, keep living the same and you’ll catch up in no time
what you mention at 8:35 was the key difference for me -- I had my son at 22 in college and that's changed my financial trajectory since then. I'm also 28 so we're on the same timeline, but I've definitely had to spend more on giving my kids (had the second in 2021) the life they deserve while still balancing my own wants and needs. I definitely don't have 6 figure savings and investments right now, but I have a home I can afford and am slowly building those things up finally. day care is mad expensive dude (talking $3500/month for 2 kids)
also don't underestimate the impact of shared values with your significant partner!! we've agreed to live a largely frugal life, but still splurge on vacations because that's what we value right now. if she didn't agree to that I think it'd be sooo much harder to live frugally if I had to constantly guard all the cash that we use.
Content like this will put UA-cam in another golden age
I loved the way you constructed this video plus cod background
New sub, I’m from the old MW2 Era thank you for the knowledge and advice 💯you seem to be a very mature young man aswell I wish I had more friends that thought like this I am trying to break out from my old chains of life and I’m slowly doing that. Slow motion is better than no motion I simply want to prepare to be good in life
nice video love watching these before school while eating breakfast
Thank you for sharing your wisdom. I agree completely and I much more prefer to have the freedom than for example pay monthly for a fancy car, which I would only drive 5% of the time anyway
Fortunately I grew up poor so when I surpassed 100k per year for my salary I lived very frugal. Got a house and a car but anything that isn't something I don't need, I don't buy. Essentials only and from time to time I'll do something nice for myself.
I hope you’re investing all that cash you’re stacking
Fortunately I grew up poor so the first opportunity I got to spend money I did and ended up poor
@@robert7100cycle repeats. break the cycle my friend
I invest $550 a month because, I'm lucky to have learnt information like this a year ago.
I need more of whatever kind of subject of videos this would fall under
I’m 23 bought a cheap car and make almost 60k a year in a plumbing trade. I not finished trade school yet, I also bought a work van and started my own business doing drain cleaning it’s been going well so far
This is a great video and perfect timing for me, I’ve been a cheapo all my life too but got a nice payrise at the end of 2023 and have noticed myself making silly purchases this year (although I will never buy an expensive car). 2025 is my year of frugality lol
I was already relating to you throughout the vid, but when you said your rent was $1500 in Milwaukee as a software engineer that’s exactly what i’m paying for rent and doing for work in Milwaukee now. Coincidence
Another think with school is to go somewhere cheaper. My tuition is about 10k a year which isn’t crazy cheap but it’s good. I took a gap year and saved about $20k and have some scholarships and money from my parents that should help get me through the degree: if you can, live at home as long as you’re not making great money. Another benefit of some schools are coops or internships where you get paid at school, in my degree (electrical engineering) most students with coops will make another $80k throughout their degree, paying for school and starting their savings. I plan to do this and I will definitely not ball out immediately
Save your money, one day it’ll save you
Bro your channel is awesome
Hopefully we all become financially free 🙏🏾
I hope so too, we got this!!
I make $130k at 26. I live with my parents and work at my cousins restaurant for a couple of evening as a delivery driver in a lucrative area. All my friends think I'm crazy that I haven't brought a brand new M3/M4 and I still rock my 10+ year old Genesis Coupe from Highschool. I love looking for deals and flying Spirit. Meanwhile one of my broke friends have cars that cost more then their salary and rather spend money on $3k+ wheels and not put it in their 401k. Told bro have you thought of retirement and told me he isnt worried about it since he is young at 24.
hey man i just staggered are you making that kind of money from the restaurant job?
Don't forget to also allocate a percentage of your spending you will willingly decide to use for fun.
I came from the opposite end, once I got a good job after being so frugal it was important to thoughtfully push myself to experience more of life by using that new expendable income.
30% is a healthy rule for fun, but that might have to be cut a bit if rent/essentials are over 50% of one's monthly net income.
I think someone no one ever talks about is that being handy will save you boucoup bux in the long run of life.
I consider myself a pretty amateur repairman (except for when it comes to cars, I was a mechanic in my previous job..)
I have a 30 year old truck for work, and a 35 year old civic for pleasure.
All maintenance (timing belts, fluid changes, etc.) is done by me. it saves a huge chunk of cash when you can do things yourself.
My wife has a 20 year old element for herself.
The transmission in her element keeled over and died at 330k miles.
I bought a rear end wrecked CRV for $700, swapped in the transmission over the course of a week and pulled the engine for spare parts (which I am glad I did because the alternator died about a week later) then sold the body and bad transmission for $450 to a scrapyard.
Being frugal also means that you are also self-sufficient to a degree.
Make a video on when its ok to live. Been scrimping by most of my 20s and want to start enjoying the buffer I created.
I'm 25 and made an important decision 2 years ago to move from my country's capital (where i'm from) to one of the least expensive major cities in my country.
I was fortunate with a few things, but the difference in quality of life that is afforded to me is night and day. I budget, but i know that i dont have to stick to the budget every month like i used to have to over fear that i'd be completely broke.
Now, I'm eyeing up buying a house in this city within the next year or so, due to the much reduced cost of living and property prices compared to back home. I definitely had some good luck, but it is possible with the right mindset and discipline.
My advice - don't feel like you are contained to live somewhere expensive and beyond your means. The smaller places are brilliant too, the people are often better, and there's more opportunity to climb the ladder of life. I still see so many friends from back home live in the worst conditions despite having "success" at their jobs, I can't justify that, personally.
Altough i 100% agree with you, remember that the stock market can crash soon and if that happens it could take years or decades for your stocks to be at the same price again you bought them in the first place. Altough the exponential grow is insane i wouldnt invest all my money just in stocks, like you said crazy times..
Such a great video and so many great bros with great advice. And some og cod??? I’m home.
Thank you so much for these videos. Please continue I love your videos
norms dont understand that having low cost of living in your early-mid twenties is an opportunity to save and not an opportunity to indulge in reckless spending.
Yh just graduated from Uni , currently in the job search and now realising truly the proper value of money
really appreciate ur channel bro. keep
up the good work 💯
22 year old here, graduated with a degree in healthcare 5 months ago and got a job with a 63k salary and 2-3 days remote work. I still live with my parents, and have no living expenses besides just streaming services. i feel very fortunate and happy to be where I am today, and I hope I can make the most of this opportunity and save as much as I can while I can. I hope to start UA-cam one day, especially since I work from home majority of the time. I hope everyone may find the path to thrive in life. good luck everyone!
great video thx so much!
I lived in a moldy apartment for 8 months because it was 200 euros a month less than other apartments. Needless to say I moved out early and lost my deposit. You can actually lose money when you’re trying to save if you do it incorrectly.
Be careful of some old cars, my 98 accord was a money pit and always had me spending almost more than a car note would, kept me from saving at times due to my circumstances. Couldn’t lease a car back then because I got a credit card late at 21 instead of at 18. I never went into debt just didn’t have credit history. Live frugal but don’t spend more money into things because it was cheap, it might not last as long as you think it will.
Please make investing videos, I don't know where to start and need advice.
BTW, keep doing what you're doing - you're awesome!
I'm 26 now. I basically always spend everything I had. Even if I would put just 100€ aside each month it would be a financial help later. Really regert not managing my money more responsible.
I'll do you one better.
I never bought a car in my twenties.
I bought a bike with some scholarship money and
the monthly bus pass was only about $75.
It's too bad more people can't even realistically consider these options.
Anywho, I like your advice.
You know I’ve heard this all before, and I like realize I need to do better, but I don’t. I think hearing this from someone closer to my own age though…. really kind of hit me, and now… I have some work to do.
Me: being cheap even with food…
Checks bank account.. still broke
Turned 24 earlier this year, got out of military 2 years ago and have 86k in hysa. Plus a forever passive income 🤝🏽
I'll probably go back to the work life come January or February. For now I play as much pc games as I want after gym 🤠
I'd love to hear what etf's and stocks you invest in, I'm 18 and just starting to get into it. Hopefully a video soon!
I'll make a video soon for sure!!
Spy etf is your best bet. Don't invest in individual stocks unless you can dedicate a large amount of your time to it. And even then its likely you wont out perform the market.
I'm a cheapo from milwaukee, currently in a low cost of living country. Literally me
Send from my Iphone killed me 😂
I have a kid, but thanks for the advice, single dad but Ima try to use these tips
Im in my early 20s, and i make a pretty decent salary for my age.
I try and live as cheaply as i can so i can hopefully buy a house by my late 20s.
This is a very good video solid truth explained by sound logic
Thanks for the advice once again, do you have any tips on being motivated? I feel like in my 20’s, it’s very tough to want to just “do it”. I want to be way more motivated.
When i first began working about 7 years ago i had nothing. My savings started growing after my first year id saved about 10k and all i wanted to do was blow it all on a car since my car was an old beater (banger in Uk). All my friends were getting the nice cars on finance (bmws etc) but i resisted the urge. 6 years later my net worth is now about 120k usd, or 100k gbp at 30 years old. Thats from being on average salary jobs. Also i did pay about 11k for a car around 2 years ago which was a huge step up in vehicle for me. But i paid it in cash.
Only thing i wish i did better was using the stock market, i did use the stock market to make around 3k total but i could have made a lot more. Instead i played it safe and used savings accounts from banks
But i could have made at least 30k more from staying in the stock market
Sent from my Iphone asked a really good question ngl
Literally impossible to live cheap in this economy. It cost more to just feed myself than i used to pay for my apartment and food combined. I could get by spending 250$ on food a month. Now i have to spend $600 just to be able to have more than one meal a day sometimes. My first apartment only cost $700 a month in 2019. Now that same exact apartment is going for $2400 plus fees just 5 years later
What scares me is that not only is doordash still open, they’re profitable.
I just turned 21 I didn’t get a job that makes 90 k starting so I’m very bummed about that. Im going to be a 3rd year college student. I like to spend money because I never had it when I was younger. But now I’m starting to realize I need to move out and get my own place and really evaluate my habits. Sometimes I question if finishing college is worth it but my family always emphasized getting a good paying white color job because blue collar destroys your body. I have a gf so I’m definitely motivated to get a nice lifestyle for both of us.
I can tell you for a fact you remember the more expensive car if you know why you’re getting the expensive car. It’s hard to forget a twin turbo v8 making 900 hp
I own a 98 Jetta with 160K miles a laptop a ps4 and a older iPhone. "I'm in my last 20's" What else could a guy need? My monthly spending is under $100 "for small wants" and I do live with people. I save 65% of my paychecks and what I can say is in the last few years I have seen a difference! XD
22 here. It is drastically harder to save money when you put yourself in debt with a car note, premium gas & insurance monthly note included!
If you are living with your parents please don’t feel ashamed. There is nothing wrong with that if you still provide/ bring something to the table!
Cut down on vices & don’t chase women constantly. Save every dollar
My family was poorer growing up so never really had much and I didn't care i try to keep those habits
I saw this video on 240p in order to save data. Then I invested what I just saved on Dogecoin.
My honest advice is do not move out of your parent's place unless you are moving specifically for a key pivotal career move or you are making at least 100k a year. We currently have the worst housing to income ratios and worst waves of inflation in modern history.
Hey there WhyLearn, thanks for the advice! I save as much as I can and recently started a Roth IRA, I’m 24 so I feel a little bit behind but I guess it could be worse.
I wanted to ask, have you thought about making a video about prioritizing mental health over a job, relationship, situation, etc.? The reason I ask is because I’m in a job right now that while yes, it does pay well at $60k/yr, I am just miserable coming in everyday. I recognize I’m only 3 months in and that it may take time, but I don’t know how much time my mental health has. Still living at home so if I did leave, I’d be more than ok with $31k saved up. Do you have any insight on this? Keep up the awesome work :)