why i don't spend money
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- Опубліковано 18 чер 2024
- Here's why I'm a financial minimalist and why I don't spend money - Enjoy! Add me on Instagram: GPStephan
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The only thing I won't cut back on is healthy food and essential supplements. I'm older and health is the most important thing.
valid
I’m young and doing the same thing.
I'd you can affordnit, YOU CANT AFFORD IT! Doesn't matter what you want. Reality has a way of humbling humans.
It is because of your videos that I have been able to become financially literate at a young age! And I LOVE every second of the budgeting and investing, thanks Graham!
Well done!
@@GrahamStephan Hard to take your advice after your pump and dumb scheme
@@-Sam69 you mean Sam Bankman Freid’s pump and dump?
To be honest, being financially literate (I'm missing a lot yet) makes life way more interesting
Wait until a woman comes and ruins that.
Back to the original style of videos! Thank you Graham!
you got it!
Graham is back! this is the kind of information that I look forward to 👍
Right there with you on spending money. My golden rule has been, "just because you can, it doesn't mean you should." And that applies to more than just finance!
"See Marge, I told you they could deep fry my shirt." "I didn't say they COULDN'T, I said you SHOULDN'T!" 😀
I need a solid and trusted plan to survive these trying times, I was really hopeful of my investments this year, but all my plans have been disoriented, I've been studying the market crashes and I realized some investors made a fortune from the recent 2008 recession and I was wondering if such success rate could be achieved in this present market. Any recommendations?
Clearly the recommendation is switch all your savings to bitcoin. Cryptocurrency crashed the last couple years, so it should be starting a new run to a new high.
Throw it into medium term fund / Hold some in gold and some tech stocks. I feel exceptionally lucky I started investing in my early 40s and consistently compounded my income to create more cash flow. I grew to a 7 figure well-diversified portfolio having exposure to different prolific investments mainly stocks, precious metals, and high yield dividend funds. ever grateful to Trisha Jean Webb my F.A...
@@RandyPelletier checked for your FA and found her web page. she is very impressive , left a mail after going through her resume.
@@rogerstone1842 Hey Roger. My generation is really going down hill with buying unnecessary things. Oh we have to buy a brand new Lamborghini. What is wrong with your old car sir? 🤔
This is the Graham I started watching in 2016. Wasn’t feeling some of the videos during the year, but this one was a nice one. Back to the basics with a nice reminder of what got you to where you are and what we can do to put ourselves in a better financial position. Thank you for everything Graham. I’ve been watching your videos since I was still a sophomore in college. I’m now 28 and married. I’ve taught my wife the same financial values and hope to pass on that same info to my kids someday. You’ve definitely made a positive impact in society :)
My mind is blown because I have never thought in terms of investments paying for expenses the way you described it. Thank you so much for this life changing video.
I agree with this to a degree. The one purchase I don’t regret is our home. It’s not a necessity but upgrading from a tiny, cramped apartment to a nice home with big backyard for my kids to grow up in was a huge lifestyle upgrade. We are at the point now my mortgage is cheaper than most people’s rent and my house double in value. We live under our means otherwise.
Congratulations 🎉🎊🍾🎈!
That's what we call a good deal. 😊
Not much wrong with buying an asset tbh
But what you did isn't spending, specially if you got good rates. It's investing.
It isn't like graham is living in a small apartment, he spent his money on a big home and expensive car.
By far your best video this year!!!! It’s always good to go back to the basics of finances. I needed this reminder as well, for myself!
Hey Graham, I have NOT enjoyed your videos as of late but still kept on watching for the information. But this video is quite a hitter! I really enjoyed the message behind it. I also am striving to have less while making way more money now as an adult. It's honestly so freeing living the way I want and not how social media tells me how to live.
Like button smashed!
Back to the roots! I thought the same thing
I am in the FIRE community (even though I did not know one existed) because I retired early (really just decided not to look for a job after my last layoff) and am enjoying life. I have no debt, still have an income, do some trading and just don't give a fu*k. Freedom is the most important thing next to good health.
How do you have income
Thank you for doing this video Graham. It's always great to hear about people who've reached the point of being able to focus on what they want to do, and, most importantly, how they got there.
The first time I felt wealthy/free was getting a $3000 dentist bill and not panicking where the money would come from.
Your first $1000 helps you get by. Your first $10K makes you not worry about things that happen, like your car breaking down. Your first $100K makes you not worry about losing your job. Your first $1M... I don't know yet, but probably figure out what I want to spend the rest of my life doing.
That's so true, im on my way to not worrying about losing my job!
First $1M and you're not worrying about making it to retirement.
@@OmniscientlyMe I sure hope so. I figure I need about $3M to retire, but I have decades to go. I did notice that my first $10k took a while, but the second came in 1/10th the time. If I look at my spreadsheet the same is going to happen for the second $100k and $1M 😉👍
@@BitsOfInterest what do you do for a living?
@@quincy189 not sure how that's relevant, but it's just a regular office job, not a manager or anything. I'm planning to replace 60% of our household income (two jobs) in retirement accounting for inflation.
Easily one of the best financial messages that shall be shared
You really put into words something I've had a hard time explaining even to myself. Thank you for making this video.
🤡
I've been following you since the start. I respect who you are. Good luck moving forward.
thank you so much!
My mom always had us do laundry late at night and my grandma uses grocery bags as trash bags. Your mind is astounding. Thank you for inspiring me to save and invest more!
This is a great video, Graham. Thank you so much for making it. I love the way that you talked about your motivations for saving and the rewards that you got from doing so. Really, really good, hope to see more like it!
Love it the practicality and the simplicity makes everything less stressful and organized
You are an inspiration to so many, including myself. Thank-you for all that you willingly provide to us, the public. Keep up the excellent work!
I really love how you broke this down. Thank you. My gears are turning...
Considering my previous message, it may seem repetitive to you but it’s good to throw in a simple savings and frugality video every few months bc they work and you may have new viewers although I’ve been with you for years now. Great reminder video!!!
I’m with you Bro. My frugality is legendary amongst my peers. And I don’t mind a bit.
I’m also eccentric - big earnings and very low expenses/no debt. I think it increases resiliency in case of major shocks - be they personal or global.
Also means I can afford to help others when they need it.
"eccentric" = crazy like a fox ...I was " eccentric " my entire life... professional income had it's ups and downs but "PAY YOURSELF FIRST " i.e. automatic deductions into tax deferred accounts to the max...never wavered...now coming up on RMD ...and need to brush up on QCD
Lol, there’s no way you remember me. But I started watching your videos way back a few years ago when I was a sophomore in high school… fast forward to now I’m going into my second year in college. Your videos have helped a ton in saving money and being more financially literate / independent!
You got me started into taking control of my finances, thank you Graham.
Did you also sign up for voyager and blockfi though ?
Just got you, Were you reckless before?
@joaquim Rodriguez I was never in debt so it was something that I didn't care about. Didn't consider long term saving or anything
Clown
i agree, some things are not worth saving but sometimes being cheap in a good way is somehow a good habit
Love these videos that discuss the sort of philosophical reasoning on why saving, living frugally, and investing are important to you.
Hay Graham I wanted to say that you have helped shape mindset so much thank you and keep up the great work 👍
Happy to help!
This is great advice. Financial independence really does present new options that we wouldn't otherwise have.
You are definitely doing your gift, I don't comment much but to have your life together at such a young age is such a blessing. Keep up the good work.
best vid yet! you can see the growth youve had
Been a fan and frequent viewer since almost day one, but I rarely if ever comment on the videos; but damn did this come right when I needed it. This is your best video yet, I’ve learned a lot from these videos, and I’ve been inspired many times.
This one in particular inspired me to finally go after that freedom. Keep it up man!
Besta luck
This felt very sincere. I liked it.
thanks for watching!
these personal videos are my favorite of yours - by FAR!
Very inspirational message.
I really enjoyed this video! I have similar philosophies in my own life. Thanks Graham!
A person either disciplines his finances or his finances disciplines him
Thank you! You have set a really good example for me. Instead of chasing wealth, I am chasing freedom. Im about to be 23 hopefully a break come for me soon!
Loved hearing the mindset behind everything and fully agree; thank you for making this!
I totally agree with this. Why do you need all this stuff? It makes you happy at the time but when you retire you won't have any money. People only see the now and don't see their retirement. There's nothing wrong having nice things but plan for retirement first.
Why when ur old already
Great video! I’m 15 and I’ve always wanted to do FIRE
Your videos inspire me
I have the "bad tradition" now of liking your video even before it starts lol.
Your content I feel is unique, specially because you make it personal also. There is always something about your life decisions on it that motivates me to find my path.
Wish you best and thank you for education me.
I totally get your thinking and admire what you’ve achieved Graham! Thanks for sharing 👍🏻
I'm DCAing in NB23RJ as well. ETH heavier DCA and ALGO. I'm taking your advice and starting Google tomorrow with a 50 dollar purchase and continuing Microsoft and Apple. VTI and VOO on another app and longterm portfolio. Here we go family!
You are one of the most sophisticated and brilliant UA-camr/content creator I watch, and 1million percent the very best in finance. I appreciate all of your content thank you for AZM1000X much love from Chicago
Wow haven’t watched Graham’s videos in a few years. This one hits home! Thank you! 🙏🏼
Love the authenticity Graham! Really enjoyed the video and I pray more people follow your lead!
I like how grateful you are. You resonate what Jim Carrey said, I think everybody should get rich and famous and do everything they ever dreamed of so they can see that it's not the answer.❤
Excellent advice. The power of carefully assessing how you spend your money, and cut down in unnecessary spending lies in the compound interest of the habits that you create. Living a more minimalist life allows you to grow in areas where creativity thrives when you have the time to meditate, ponder, and experiment areas of passion and interest that would never flourish if you are constantly running the hamster wheel of living paycheck to paycheck and slaved to a job to pay the bills. While you need the basics to live a comfortable modern life, the added materialistic things are more of a detriment to happiness because it robs you from the only true currency: time. To be a happier, more successful person, get off the “hedonic treadmill”.
Thanks Graham, love your videos like this. Always feels great to have these principles refreshed in my mind. You're a life changer 💪
I love this mindset. Great video
Lol the intro was so funny. I'd consider myself a pretty unconventional saver. I do the grocery bag garbage bag but don't think about what time i do laundry or split toilet paper. Thanks for the ideas! 😂
you got it !
Thanks for this. A well needed reminder to go back to basics but still remember to live life and enjoy it.
Well put! Freedom to be & do as YOU will IS what is MOST important. With it, you can be more peaceful & do more during your life for your benefit & for others as YOU decide--not in accordance with what anyone else thinks...
The financial sector and derivatives may have a Hindenburg moment if the US Treasury market collapses. Rising market illiquidity in the $14.8 trillion U.S. Treasury market, according to Bank of America, might affect other financial markets.
There are many opportunities to make fantastic profits, especially in this depressed market, but such complex transactions can only be carried out by seasoned market professionals.
@@WEi45635 I wholeheartedly concur, which is why I like giving an investing coach responsibility for making everyday decisions. Given their specialized knowledge and study, as well as the fact that every one of their skills is aimed on leveraging risk for its asymmetrical potential and limiting it as a buffer against certain unfavorable turns, it is practically impossible for them to underperform. Over the course of more than two years, I've worked with an investment coach and earned over a million dollars
I've been considering taking that path. I've kept a lot of stocks, but they're starting to depreciate, and l'm not sure if I should stick onto them or sell them. I believe restructuring my portfolio would be facilitated by engaging your investing coach.
@@debroahmorrow5919 Yes, you can use a search engine to hunt for Mayra Femia Hetrick. However, I'm not certain that I can bring this up. In 2020, she attracted a lot of attention. She manages my portfolio and serves as my mentor.
@@debroahmorrow5919 Her website was easily accessible by entering her complete name into Google. So far, it seems fascinating. On the scheduled date, I will phone her and let you know how it went. Thanks
This video is almost the exact advice I'd give to anyone on finances. It's not difficult. Rich Dad, Poor Dad states similar as do most personal finance books. For whatever reason, people struggle with delayed gratification heavily. Increase your income, reduce your expenses. Its the opposite of the US government does.
Great video bro! Straight up facts! Pack your lunch guys!
My Teacher Dropping Gems💯🙏🏽
This is exactly how I see money too. My investments pay for my cell phone, housing payment, utilities, etc. I am not yet at the point where the investments pay for everything, but I am getting closer and making progress towards that goal of being completely free to walk away from my job if I want to.
You don't have investments bozo
I have been doing my husband's hair for well over 12 years now. He didn't want to pay anyone to do it and I was doing a better job then the last time he went to fantastic sam's. Saved a lot of money.
This is THE BEST video you have done this yr so far! Thank you
This was very inspiring
We have been on a recession since the beginning of 2022, but big media and governments all over the world didn’t want to admit it. We need to be wise and use our brains. Knowledge is power and I’d like all the family to be powerful! Just purchased some NB23RJ Thanks for keeping us informed during this times of doubt?
Just get a filter for tap water, get a metal water bottle. Saves you on the water bottles
Old School Graham Stephan 👍
One of your best videos in a while.
You are one of the very few content creators on UA-cam that I will watch no matter what the content is. What you've achieved is an inspiration. Currently I have a career in AML but I'm looking to invest but don't really know where to start. I know I don't want to do this everyday for the rest of my life, that's for sure.
I work in AML too!
@Marie Lux rare career huh!
@@goodyangie1 hahaha it’s interesting, that’s for sure
Get Graham back on Selling Sunset. I would pay to see him having this convo with the ladies on the show. 😂
Thank you Graham! 👏
A great mindset as well as lifestyle. An example of how to become successful in a good way.
Respect!
I’m poor but I still buy stuff. However, I spend money on stuff which can make my life better. Stuff not necessary expensive but with good quality, useful rather fashion clothings, bags etc.
Graham, can you make a video of how you track your expenses?
sure thing!
Never thought about listing the monthly expenses by using the investment income to cover it. It made every penny saving “visible”. I learnt this, thank you 🙏
So inspiring, thank you Graham! Motivated me straight away.
You forgot the main thing, never have kids!
Being frugal is not crazy - you only need to "MAKE IT" once and not gamble it away once you do make it; like so many who have made it do!
totally
I relate 100 percent! Glad I’m not alone!
I could do a tour of my home that has been filled out by abandoned tenant property, thrift store buys or freebies. My flatware doesn't match because it's a hodgepodge. I usually convert buy price of things into number of working hours as well.
I really appreciated this video, as a medium-term AZM1000X holder. I know you commented on not many people paying attention to this, but it was very relevant for holders such as myself. After watching your thoughts, I willbuy more. I also remember your earlier assessment. This will crush the market.
Shut up
90% of people should be increasing their skills to increase income.
Saving 10% of an "average" income after bills is too small of an effect for most. Thanks Graham
Yes, I agree! It's important to be a lifelong learner. Just don't accumulate 10s of thousands of $$ in student loans in the process.
This is why disposable income is the only decent way to measure the wealth of a person/country.
Great video and so inspiring ! Thank you Graham ! 😇
Great video and a great message about options, with or without fire. 🎉
My wife & I have been devouring your videos over the course of the last couple of months. We've learned so much and have begun incorporating these values and principles into our own lives. Thanks Graham!
Holy crap I’ve been thinking this exact same thing, laid out excellent as you described it. I’m definitely feeling the confirmation that I’m on the right track 😁👍
This is the BEST VIDEO you have done in a while. I've been watching for just over a year and it's easy to see the enthusiasm from week to week. But this has been spectacular. I would like to see some more "reminiscing" videos! A++
Aren’t you being sued because you were apart of the ftx scandal
I mean as an Aussie we as a family do 90% of the ‘joke’ methods at the start, we use plastic bags as bins we don’t even buy a bin just throw it on the door that’s the house bin 😎
OMG! My wife used to do that. Fortunately I got her to stop that. A door should not look like a dump.
@@Octopussyist best bin ever imo, easy to tie it up and chuck it in the bin, always have extra plastic bags so may aswell use them, we definitely don’t see eye to eye on this haha I’d be laughing if the wife done it
I love this
Been watching since 2017 keep making great content Graham !
Back to your old content. I miss this!!
Graham once said, that he is actually driven to make as much videos per week as possible to stay on top with the suscribers - means no long vacations, no travels to see the world while still young. I would consider this as beeing independent too. Money is ment to be spended since your retirement is already save.
This doesn't mean, that you have to throw it away for silly things, but maybe for adventures, personal developement - without the necessity to make a you tube video out of it. I guess the most important aspect of beeing free as a UA-camr would be : not to be afraid to lose your audience, when you are away for some weeks. Also to stay private if you want to instead of exploiting every aspect of your life. But maybe that's an contradiction in itself?
One nice option is to prerecord videos as far in advance as you want and then go take your vacation without worry
If what makes him happy is not going on trips around the world, then that's fine. He doesn't have to be happy according to other people's standards.
@@madhououinkyoma You are right, but beeing happy and or beeing independend are different things. He emphazied how free and independed he is now to do other things than work, this was my point.
@@elsemuller2460 I get what you're saying but he's also rich. He could just stop working. But to maintain what he's got he's got to put in the work, which he wants to do. And that's part of what made him blow up. He works for himself, which is what makes him independent, he doesn't have a traditional boss.
I dont know who needs to hear this saving for a better investment is a great step to financial freedom you're saving a day off work
The best advice of the year so far-you've covered so much ground. The best step toward financial freedom is saving a day off of work. I am really eager to begin investing.
@@bashirauwal5825 Yes, it has helped my overall income; I earn roughly 2k each week from my investment portfolio
Wow that's awesome I'm really excited about this how do I get started
There's a lot of investing options real estate, cr ypto, ETFs, s tocks but my best advice get a professional lead you into profitable one
@@albertcharles4415 Ok how do I get one of these professionals to guide me through the process can you recommend one ?
One of your best videos. Thank you!
right, definitely the way to go - don't forget to give beyond what you actually need for a happy life to people/children who need help - but when you feel intuitively it's the thing to do
Seriously AZM1000X is something nobody expected and yet it's just breaking all existent rules to make the superior move
Graham needs new drip
Baldy 😂
haha really?
@@GrahamStephanyes, just write it off as business expense too
Sry... Graham is the drip!!!
Not cool
Finally a video worth watching the whole way🎉of Graham Stephen
Great video! A philosophy for saving, getting ahead of the game, and achieving financial freedom, which just allows freedome and control over your own life. A video full of useful tips and even some humor scattered throughout.
Brilliant video. So well articulated
Well this felt very timely. Think I needed to hear this. Thanks!