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Bro, not to upset you, but in Europe that is a robbery. Here in Hungary, I pay roughly 6$ for a monthly student country-pass that enables me to use the entire public transport system of the country. But even the full price monthly pass would be only 40-50$:)
@@gezaradimeczky306 this is genuinely shocking I live in Canada and it’s 120$ monthly for a city restricted bus and train pass, how good is the infrastructure over there??
Most young people these days aren’t struggling financially because of over-indulgence; they’re struggling because their salary is barely enough to pay rent for a one bedroom studio apartment.
No he's implying that gas and car insurance for the morning commute comes to $4. To actually save that money you have to not own a car at all. Then you need a taxi to get to timely appointments, and you're out a lot more than you saved. Miss the dr. Appointment by one minute because of commute delays, and you'll miss a whole extra day off of work too. This guy is completely out of touch with 99% of america.
@@santiagokiwi3187 if you're looking at just spending the million dollars it's not very much money but you invest it and make as much as 5% that's $50,000 a year you'll still have your million if you don't spend more than what it earned in this case would be 50,000
@@stuartd9741 not necessarily, you can buy coffee pods, which are not as cheap as brewing your own coffee from coffee beans, but still maintain the flavor profile of the coffee you know in love.
@@jaydeattsthen you must have a shitty life. Let’s put it another way: small expenses can add up. If you cook the day before, make double portions and problem fixed. Be conscious about expenses which occur daily like transport or your daily coffee. If you don’t want to be smart about these things, then fine. But don’t come complaining “housing is unaffordable”, “you need to make 120k per year to make ends meet” and bla bla
Well, I'm sorry but the market decided that your job, even though it probably consists of at least 40 hours of hard work, isn't worth an actual, comfortable living wage. 😢 It doesn't matter if the economic value of your work is higher than that of many other jobs, it's just how the system works. 💁♂️ And in the end, why would you ever complain, don't you want to have the infinitessimaly small chance of everybody having to bend themselves to your wishes, your wealth?
After reading "Invisible Laws of Prosperity" by Oliver Pierce, I finally understood why so many people struggle with money. It reveals stuff that most people don’t even know about how money really works. Has anyone else read it?
In 1972 when we were 19 & 20 years old, our rent for a delapidated bachelor's flat, with a shared bathroom and shared laundry required one entire salary. We also paid for our gas and electricity.
It really isnt lol, it is maybe the difference doing okayish and being poor, but not between being a millionaire and being okayish. Also, saving up to 10k a year on coffee, a treat and netflix.. I am sorry, but that does not lead up to 10k, perhaps 2k if where being generous..
@@draco2378 he literally said you'd have over a million dollars. Now we can argue about what the exact definition is of being a millionaire, but it is kinda implied.
Let me give you a real example... Rent : £1,100 Council tax: £200 Energy & Water bills: £150 Food: £600 Subscriptions (Amazon prime & Disney+): £20 Coffee: Included in groceries, I don't buy from the coffeeshop Student loan: £450 Transport: £450 (I live outside London as I have a family and rent for multiple bedroom occupancies is cheaper) And the biggest steal of all: Tax: £2,000 My wage is £85k per year as well, so I am by all accounts supposed to be pretty well off. Maybe if I really wanted to I could live on beans, but that's about the only place I can even hope to save money.
@@ozymandias8523 nah inflation would catch up, so they are going to be comfortable, but the issue is that rich kids tend to waste their parent's money we are seeing time and time again at a lot of wealthy kids are just throwing away their parents money and some parents are either sick of it or at least have one child in the family that they know they can trust to pass the business to
my problem with financial advice today is its like: coffee: 4$ Lunch : 15$ Rent: 5,000$ Netflix : 20$ Student loans : 300,000$ Uber : 50$ Medicall bills: 875,000$ and then yall are just like "if they skipped coffee this morning they couldve saved 4$" like THATS the problem
Where are you at paying $5k in rent each month? I get what you mean but there’s no need to be hyperbolic. If you owe six figures in student loans, that was your mistake.
I don’t drink coffee at all, I *always* pack a lunch made with the cheapest foods I can find, I drive 30 minutes to work in a used, paid off rice burner, and I don’t have any paid subscriptions to anything- only utilities. I’m still broke. This isn’t an issue of “you’re bad with money,” this is a price-gouging issue. We’re paid far too little, work far too many hours, and charged far too much for necessities.
@@hobomike6935 There is always some money you can save, with that money look for ways to buy things cheaper and offer them at a higher price. Limit your spending to the things you absolutely need to survive and invest the rest
Remember kids, previous generations didn't have to make these sacrifices, but they cant accept the fact they've made the world demonstrably worse for everyone
Totally agree. Am a millenial who stopped buying that commercialized starbs coffee, packed my lunch daily and woke up early so I dont have to Uber every morning.. and I saved X00,000 in the past 2 years. Really true. 👌
At least with this guy he actually does have videos with legitimate advice. He's just saying that the more you can cut down your expenses, the more you can invest in yourself. Whether it be building an emergench fund, setting a managed refirement savings account that grows over time, or taking a risk with the stock market. This short comes across as preachy, but he has a valid point.
That is literally a completely reasonable thing to tell people though. Plenty of people spend $20+ on simply their food everyday that they go to work which nickel and dimes the absolute hell out of you. If you're ordering avocado toast consistently then you're literally burning money away.
@@chaotikkiller but that's going to make them rich billionaires don't want to admit the only reason they are rich is from profiting from other ppls labor Elon musk for example he didn't start with nothing his dad own a diamond mine im south Africa that used basically slave labor then when Elon wanted to start a company his dad gave him 200,000 dollars to start there all liars
@@chaotikkiller but that's not the real issue, The real issue is how wages haven't kept up with the cost of living and the literal overpricing of housing. The " Don't eat avocados and you'll be a billionaire" is just another phrase the boomers tell to delude themselves from the Economic challenges they created and blame it on younger generations
@@gen169 The real issue is that there are too many people who read what you're saying here and think similar to you and believe they have zero chance at gathering wealth ever. Saving money that you spend on luxuries and putting it towards a safe investment is a good way to set yourself up for a good retirement even if the amount you can put away is small. Too many people want to just give up and blame everything and everyone for their inability to even try.
What I hate most about videos like these, is they assume you do this every day, and not once every other week. Do some people do this? Yes, but they’re not watching videos like these.
Well, just for some perspective, my coworkers are all "that person who spends $15 DAILY on lunch", so there are absolutely people out there that do all this, then complain about how they can't afford to live.
How to talk a whole load of nothing. The video is targeted to those who make the financial decisions that are questionable at best even if they "ain't gonna see it." If you are reasonable with your money and doing said financial decisions in small enough doses then good job 👍🥳🥳🥳
Most people are probably “wasting” $100/week minimum. For instance that could be booking last minute flights instead of booking in advance or getting an apartment that’s a bit too expensive.
@@Mogardie and risk my travel plans falling through? No thank you. And no one is buying wrong apartments that are too expensive for them when they’re all too expensive.
I'm a 24 year old and live in Malaysia. I don't spend on subscriptions or krispy kreame. I was on the edge of a deficit monthly (RM1000 allowance) trying to brew my own coffee and cook my own meals with groceries, not to mention equipment. My country's public transport lost me a lot of time for travel purposes such as work or classes, making my life miserable. After getting a budget car, eating out at budget places, and getting coffee from McD breakfast McSave, my monthly finances saved about 30 - 18%% afterward.
so where is your money going? You have to keep record of every spend and you will save some cutting where its possible. In case your income is so low that it can only cover the absolute basic (groceries, rent, etc) you should really look for a better job and alternative income sources (reselling, part time jobs, etc).
@@mc1996Bro, that's not how this works, not everyone can just "look for a better job". Most people that complain about too little money don't have the problem of spending it on unnecessary expenses, people that do that usually have enough to live comfortably...
@@daretochallenge8250 I can answer this one: rent averages $1500 in the US. On my state's minimum wage, I bring in $2,000 a month working full time. That leaves you with $500 for food, transport, and utilities. And god forbid I get hurt and stuck with a medical bill, or need new shoes. So, obviously, I need a better job, but every "entry-level" job that isn't minimum wage wants 3 years experience minimum in the job's field, a college degree, or both. Obviously, college costs money, which isn't possible in that situation, so that's out of the picture, which leaves waiting. This would literally be my current situation if I wasn't fortunate enough to have had a dad in the military, getting my college paid for.
@@daretochallenge8250 There isn't an infinite supply of jobs. Not everyone lives in a city with a lot of opportunities. Depending on your circumstances, a certain job can be your only / best option and still suck.
Reminds me of an old joke: "Ifvyou quit smoking now, in five years you'll be able to afford a Ferrari." "You smoke?" "Nope." "So where's your Ferrari?"
and then when I stop getting chocolate rolls and my lunch at the grocery store next to my workplace, I'll get blamed when they close. Nah mate I'm done taking advice from boomers 😂
@@Steltzer.1914Inflation has never been 8% every year. Average throughout history is more around 2-3%. Investing over time has always greatly outpaced inflation, hence why people have 401ks and people much richer and smarter than you keep stock
@@silentbovo1 not all countries have 2-3% inflation like USA...Hungary had +20% in the last...3-4 years, but I would say since covid hit. Only a 2-3 months ago were they capable of solving the inflation...
@@SwolphaclesMost people don't have a million in the bank😂 I can't remember the exact statistics but it's something like 85% of UK adults surveyed had less than 1000£ of savings in the kitty
@@thatpeskyswanin America it's even worse. Most adults have fewer than $500. Learning to manage finances is important, but most people are struggling so much they don't have any meaningful finances to manage
And also because he thinks a ride even costs that little. Maybe if you have a monthly pass for public transport, but even that can cost more (see London), and it's a set price you can't have further savings on. Anything most people spend on "frivolously" is already an occasional thing and no one has ever become a millionaire by saving some snack money.
@@girlwhomustnotbenamed4139 fr thats what i hate about this stuff, sure its helped millionaires before they were millionaires, thats because they were broke and that little money helped back then, once you're rich that amount of money becomes negligible and you wont think twice about buying $10 snacks or spending $100+ on travel..
@joaquincaceresguibovich3182 once got a cab to work from my home due to car tire issue - 17kms away. Cost - $50. No buses go that way (paid for BY work as I would never pay that much for a taxi). $2, $4, even $10 or $20 would be amazingly cheap.
@asjbfjbkaw you dont have bus monthly/yearly passes? They are usually cheaper than buying a ticket every day if you really need to travel all the time and have no car.
I've actually tried this for an inflamed thigh muscle & knee. This helped me out tremendously, and I wanted this fixed ASAP since I wanted to apply for a specific job. New York is a craphole and this is going to help me escape... Thanks you.
Don’t be extreme. Cut some unnecessary spendings doesn’t mean you can’t enjoy yourself. For example if you were planning to go to holiday on first class and live in a large popular five star hotel, you could instead fly economy and live in a smaller four star hotel. This doesn’t mean you can’t go to your holiday, it’s just cutting some spendings without really compromising too much.
@@M.e.h..$1M isn’t financially free… What do you think that $1M is going to be worth 30 years from now. Close to $250,000 today at the rate of inflation. That’s beans.
@@EnderViBrittania i make 85k a year, and have a pretty substantial amount of money in my savings account, Roth IRA and various investments. and I'm telling you, The economy is in the toilet, and nothing short of overthrowing the government is going to save us. I'm not making excuses,, you're ignorant to how far beyond saving this country is.
And yet my dad always said, "Son i knew people who saved and saved for years, and before they even had the chance to spend it, they died. So enjoy your life and do what you want to do" And its true. In 30 years will we really be botherd about having millions in the bank? We will look ridiculous in a lambo and wont care about looking after a mansion.
@@supreme5998 I see you're lacking education on this matter so let me teach you. Most people have these things called friends and relationships. Friends like to do things, together. Things that make it worth waking up every day. These things usually involve going to cafes and restaurants together, and watch movies together. Existing as a frugal hermit is incredibly cost effective, but we only have one life and I think if I had to live as a frugal hermit, I'd sooner commit die.
@@327legomanthere’s a balance, buying food once a week to hang out with your friends which you will remember more fondly is a lot better bang for your buck than spending money on lunch everyday.
@@chichichiyomi__ Starbucks in the video is a specific placeholder. It doesn't take a genius to work out that said placeholder is taken up by a variety of different social events similar in nature in different people's lives. The nearest Starbucks for me is literally a 2 hour drive away. Everyone can live without Starbucks. Most people go insane when forced into solitary confinement.
Out of curiosity, what country are you from? In Australia for example, you can’t find a coffee for under $5 unless it’s a service station. I thought all western countries were at this shitty point where everything is ridiculous…perhaps I need to move to where you are 😁
@@ohjesswhatamess if you live in Australia rn, try visit Bali, malaysia, japan and korea. You can enjoy specialty coffee (arabica G1 with SCA cupping score >8.00 excellent) way cheaper and better than Starbucks. And yes, I'm talking about drinking coffee. not drinking cream
Wtf, he said make your own food at home and consider public transit. He never said don’t eat and walk to work 😂 No, nvm, you should just give up. I’m sure everything will turn out fine 👍🏽
@@GabrielBacon there's a big difference between being money-conscious (knowing how much more you can afford to spend to have some leftover for investing) and not spending anything at all on things that can not only make you more productive but also happier overall. And just for your information, I do investments too as he suggested, and actually wouldn't be surprised if you were poorer than me, based on your lower-class obnoxious behavior on social media.
The biggest wealth killer is the loss of buying power worldwide due to inflation pops. It's really easy to make money when you bought a house for half a year's salary while nowadays you can't afford to live on rent with a single salary
Yeah. That’s the point of investing. People invest to combat inflation. If inflation is 5% and your money grows at 8%, you’ve hedged against inflation.
The biggest wealth killer is wasted spending on wants. When did people buy a house for half their salary? No - you can afford to rent on a single salary
@@jsebby2284bullshit.You save 10k a year now what? After 30 years when you are 60 or 70 MAYBE you can get another house.Congrats bro you never sPENT any money your whooe life and went for work - home and yoi have another house at70 .
What I'm hearing is "if you take the joy out of your life and work like that for 30 years you'll just have a million dollars more". Not sure if that's a life worth living.
or maybe understand what they are saying their advice might 'NOT' be useful in every stage of your life but their advices are more specific which goes excellent with special situations, and you need to find it. think about it, the much you've lived, didn't you ever thought you had multiple choices and decisions? and some of them are useless? and that's where you realise what you should've chosen. But this situation doesn't happens to everyones life, everytime old is gold in the way they are treated
And then once I have the million dollars, I’d be able to buy Starbucks, eat a nice lunch, watch Netflix, and not have to take public transport. Can’t wait!
"I don't need million dollars, because all I would do with a million is the same as I'm doing right now." basically where i agree that you don't need a lot of money to lead a life, you are just showing that you have nothing else to do with your life and just couldn't handle that amount of money, or just have no big interest in doing exciting things, like travelling the world also this is just meant to show how easy it is to get rich
Yep! And you are definitely guaranteed to live that long. So don’t spend anything on yourself today. Put it all into a money machine that the speaker is also invested into so we can all make more money! Now is a great time to invest since the economy is booming.
You’d think they don’t but go to any shopping mall and they are all packed. So even if the companies are underpaying people need to put their spending in check.
@tobiasthederp That is cope. First: You get paid according to your skills and your work quality. Improve and make yourself more valuable, and get paid more. Second: You are complaining and making excuses, as an attempt to avoid responsibility of not wasting money ad the video explains. In both points, you fail to take responsibility for your own situation, which is the main problem with all the whiners like you in the comments.
@@EnderViBrittaniajust cuz you make kaffefee dose that mean you cant make money to live of? Yes somone can do The job cheeper sure and its brain dead work but again why shoud you not be able to make a living
If you stop buying toilet paper and just go around with a dirty ass, you could save up to $5000 a year, and with an 18% annual return in an index fund you could be a millionaire by the time your friends and family abandon you because you smell like festering shit!
Guys in his generation ruined our economy and could never understand what it is to be a 20-something in this day and age, why in the hell would we take advice from them when they put us in this position?
@@jamesbarbour8400 it’s not, but it is the fault of the government when he was the age of the people he’s speaking to. That’s what OC is referring to… also, it’s just really dishonest to pretend that he thinks this is a good solution when foregoing any bit of fun or comfort in life is something he’s never had to do because the relationship between a decent wage and being able to buy a house was actually manageable.
You should definitely take his advice regarding index funds. The point is do the best you can to get to where you can save money, and then that is the tool you should use for saving.
This is very helpful perspective and I agree with everything except the lunch. For me by buying lunch, I actually make more money because I work more and my hourly rate makes financial sense to do that.
30 years from now: $300,000 cup of coffee; $500,000 lunch; $200,000 uber; $150,000 donut. Oh and Oops the market just crashed and all your money is gone.
He does have a point. If you do this everyday it has big effect on monthly income. You will still be poor if you don't spent on daily fun but you will have like 30 percent more money every month
The guy is sharing legit financial advise. You can cut a lot of costs on daily spending that only marginally reduce the quality of living, like the expensive coffee, eating out vs cooking. The reason he takes stuff like this is because it's easy to think it's just 10$ or whatever more, but in the long run it ends up being a lot of money, that if invested in an index fund ends up being even more money.
I'm sick of this mundane conventional knowledge, guys. Head to Borlest and read the forbidden books, only then will you truly gain knowledge about money
In 30 years that same fiat currency will be worth practically nothing or if you do get to cash out chances are it will be only via CBDC’s and you’ll only be able to spend what the government lets you spend it on. What a misery
I'd say thinking someone having 45% or more of income going into rent alone. Add in state and federal taxes at 10% or more. The remaining 30 to 40 percent going towards to water, electric, car insurance, car payments, gas, food, internet and cellphone because I have to be reachable at any time by email or phone not just in the office, various goverment fees, parking fees, and throw in medical bills if you are lucky to be able to pay it, and still having a quarter or more of your gross left over sounds pretty out of touch.
No, people don't typically get wealthy from high wages. Celebrities are exceptions. Most wealthy people get wealthy by not blowing their paycheck on dumb nonsense and investing wisely instead, like the video said. You can become wealthy with a middle-class income if you make good decisions, and you can also live paycheck to paycheck your whole life despite making $120k/year.
@@thebellcurve3437that is total bs. Most wealthy people are wealthy because of their salaries or inherited wealth, not because they simply made good investing decisions.
Wise words. Some things are still useful to spend a little extra, at least: things that keep you healthy, things that educate you, things that are experiences worth talking and memorizing, and things that save time significantly. They provide income potential, happiness, and savings in the long run.
@@jsebby2284 Save more? Absolute genius. Save more while restricting yourself and living frugally and then end up as a really miserable person when you're old because you wasted your life? But at least you now have a nice house! ..And zero friends.
@Septembermoodddd you would think it's common sense but in today's day and age yeah it is pretty genius. Thanks man. Why would you be miserable? How did you waste your life? Why would you just be getting a nice house? And why would you have zero friends? Dude do whatever you want with your money. You just don't get to complain when you have nothing saved for retirement then. My statement of "save more" was just a simple repsonse to the guys idiotic comment. It's really not that deep
I don’t use public transportation whenever I go to a new city for a few days for work, no need to burden myself learning their routes and schedules if I’m going to leave soon, so I usually uber everywhere. I was in NYC for two days, was paying just under $30 to go like 3 miles in Manhattan lol
We have almost as big a "basic fee" for taxis in my country before it even starts. That, and no one uses a taxi every day to go to work that they could swap out with public transport. Most people already have a monthly/yearly pass and take a taxi when they need to. No one will ever become a millionaire, not even in 30 years by putting that amount of money aside. Plus what safe investment ever actually has an average 8% yield? Any time they promised sg like that, it never materialised. Plus it means you won't have any other savings for 30 years and you will inevitably need funds for things in the meantime because, you know, that's your entire life.
"In 30 years i'll be dead bruh 😭" People think it is easy to get money, however it's better to live better when you're older, as you can sustain your family and give them a good future, fixing all the problems your family could have it the past generations.
"Just do nothing but work, work and work, and maybe in 30 years, when every part of your body hurts and you can't enjoy life like you used to, you'll be basically a millionaire! Of course as long as the economy stays the same." Why didn't I think of this before?????
Ah yes, so we should all blow our money at all times so that when we are old and in pain we have absolutely nothing to live on to make our lives manageable at that age.
Prove it by helping a brother in debt? For a millionaire 3-4 grand shouldn’t be much but it’ll save me 6-12 months of trying to cut my (very basic) expenses to pay off my debts 🙃
Enjoy being a millionaire 30 years from now if you're still alive, after that long grind, When you're with one foot in the grave and the other outside, old, ugly with your body quitting on you. Sounds lovely.
Hi, do you really think that at 20 years old? I’m in my Fifties having the best years of my life! Build the foundations from 20-30 and you can have a great life, safe in the knowledge you’ll have a million by 50 maybe more. MT 😎
@@marktilbury everything you said in the video was way cheaper than what it actually is. 4 dollars for transport is not expensive compared to actual transport
I don't understand. Making your own lunch and taking public transport make you ugly and body will be qutting on you? If you take public transport you would more likely to exercise from walking and probably healthier lol.
The big financial problems people face are huge houses and expensive cars they can't afford, those things make you poor, not a latte or a 2 dollars sweet treat.
latte or sweet treats are those types of expenses which everyone ignores, not those types of expenses which can't empty your bank account and this guy also told us about that his advice might not be fully acceptable but you can't ignore that too and ofc drinking latte or something is the way you enjoy your life so that advice wasn't for those who don't want to touch greater reaches (tips ain't always fact, so doing or not doing might or might not effect your life, you can still reach them. but to be honest sometimes normal life is better than being rich for me)
Exactly! The cost of living has vastly outpaced wages. It's all well and good telling people to spend less money but what about the expenses he's not mentioning ridiculously expensive rent and essentials. That's what truly screws people.
Are you guys refuting his $10,000 a year quote here? The math adds up. A lot of you jokers are spending even more than that yearly on frivolous things. What he said and what you’re saying don’t have anything to do with each other
I tell people this all the time. Giving a coworker a ride to work, asks me to stop by the gas station everyday which is no big deal. He spends $15-20 in there then at lunch door dashes something to our work for another $25-30. I told him how he spends nearly half his wages every single day doing this. I told him "How do you ever expect to get a new vehicle doing that? The other half of your income is spent on rent? So how much are you realistically putting back for a new vehicle each paycheck?" He was dumbfounded. I wasn't trying to be a jerk about but like bro, you don't make enough to be doing that and even if you did your throwing away mad money.
And this way I'll lose more time cooking and using less convenient transportation which means less time to establish and expand my business and also less enjoyable life, great advice. The only good point is the Netflix and other subscriptions.
@@nicholasselke5214 Yes it does, plus you need to clean the spoon, dishes and containers after making your sandwich. Or if you plan to take it to lunch at work, not to mention it won't be fresh anymore. And when you'll be late in minutes, cooking is sometimes not an option but rather buy the food at work.
8% is kind of a stretch. 6.6% yearly average what Jeremy Siegel calculated the American stock market has performed during the past 210 years. Assuming there is no yearly fee for your funds. Still, the point is valid. 25% of my net income goes to global ETFs
And even better: this is the "stop living" mentality in order to accumulate money. It would be better to have some more concrete teachings than the usual "cut everything".
@@Richards80 Yes, you're right😂. But I meant the fact that they could teach you more important things, about paying taxes, levies etc. If the only advice to save money is "stop spending", but in the end you make bad investments, You're at the starting point . 💀
@@rolandriva66The fact thay he taught us about "stop spending the unnecessary" means many still spend a lot on unnecessary things. Yes indeed, th next step is good investment.
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 Abel Dorsey Thanks for keeping us informed during this times of doubt?
With all due respect, the GDP has increased the last two quarters. Thus, by definition, we are not currently in a recession as of the time of this post.
The definition of a recession changed in Bush 2's presidency, so now you need 6 months of economic decline. Any uptick, no matter how small, restarts the clock. Also, the current economy has been gaining strongly. But the health of the economy has been divorced from household finances to the point where even growing like gangbusters, people don't feel any real gain.
I feel that the last bull run was bolstered by all the money being printed. Major returns next bull run but I think they will be tamer in my humble opinion. A 10x on Abel Dorsey and a 15x on polygon are fair considering how much those two coins are interwov
Yes and kinda no. Your right about all the printing and government spending boosting the market better than I might ever will (within our lifetime) but there is still opportunities, just gotta look a little harder.
I agree that we shouldn’t overspend on unnecessary luxuries every day, but in my opinion the cost of living is hampering most people from saving enough.
From where I live, junkfood are expensive so as the healthy food. If I want a kilo of chicken, I have to work for about 3 hours to earn that money. I can barely save money. My investment right now is my good health, a decent house to live in, decent clothes, decent job and decent meal.
Yes, skimp on all the little joys and conveniences for 30 years, so you can have a mil at 60 when life's way less affordable than it is now. Brilliant. Thanks, gramps.
But you can have a nice house when you reach your 60s! Probably? Maybe? If your savings don't turn into pennies 30 years later! And who will be living with you in that house? Beats me. You didn't really make any friends or establish relationships because you were too busy focusing on restricting yourself from the small things that made you happy..
@@Septembermoodddd That's not the point here. I understand the deeper meaning of what he's saying. Spend wisely, and live well. But you have to take a more holistic view of what living well means. Social factors like safety on public transport or lack of prep time in the morning for people hustling who work 60+ hour weeks just aren't options. Most people who are angry with this sort of advice from older folk (including me) aren't angry at the advice, but more so with the affordability/wages discord. And as someone who survived multiple strokes and a brain tumour at 24, life's unpredictable. Gotta treat yourself every now and then.
A saving tip I always considered on a unserious level is to take advantage of my work place at the utility’s company having sauna, showers and free laundry/dryer machines and just live in RV in the parking lot at night 😂 But then again, I have a wife, kid and 2 dogs and don’t wanna share a small RV with them 😅
Then at the age of 70 you’re diagnosed with cancer and told you have 6 months to live, as per my dad. Don’t waste money but spend it on the things that give you pleasure. You’re a long time dead.
@@DannyCheezitsits correct but also unreasonable. Most people that spend money are already aware of what theyre spending it on. These content creators try to tell us the alternatives but we already know what they are. The issue is combating the convenience of these services. Transportation can be extremely unreliable. Sometimes you might end up waiting an hour for a bus in the rain, cold, etc. Or you may live in an area far from transportation. You could bike but thats also extremely strenuous depending on the distance. Groceries are extremely expensive nowadays and the cost doesnt also include the time, and labor that goes into preparing, making and then cleaning afterwards. Agaon, just cuz the advice is correct doesnt mean its reasonable.
@@ace2311i mean it really isn’t that unreasonable. he talked nothing about groceries or having to buy anything necessary for survival in this. he’s basically just saying there’s a lot of junk out there that people buy every day, and don’t realize it all adds up significantly. skipping out on just a little bit of that junk each day can quite literally save you thousands in the long run.
Look at who is using Klarna, PayLater, Affirm, Sezzle, Zip and all that shit? Is it boomers? No. Do boomers force others to use it? No. They might just be doing something right sometimes...
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And then our faces will start looking like yours.
And where do i Invest it, and on wath?
We got 30 subs! On our way to 100 🎉🎉🎉
Nope im not falling for a scam
Biggest wealth killer: being born into a generation that has to work far more hours to purchase the same amount of home food and health care
$4 on any transport sounds like a steal.
What about 5$ for coffee?
Metro tickets during paris olympic games will be 10€... And i bet it wont decrease after the games
Bro, not to upset you, but in Europe that is a robbery. Here in Hungary, I pay roughly 6$ for a monthly student country-pass that enables me to use the entire public transport system of the country. But even the full price monthly pass would be only 40-50$:)
@@gezaradimeczky306 this is genuinely shocking I live in Canada and it’s 120$ monthly for a city restricted bus and train pass, how good is the infrastructure over there??
Yeah mate where I'm at right now in the UK all the buses are £2 one way.
Most young people these days aren’t struggling financially because of over-indulgence; they’re struggling because their salary is barely enough to pay rent for a one bedroom studio apartment.
This!!!
Skill issue
@@scott5966 That’s generally a pretty good idea, but an apartment designed for one person should be affordable by one person.
Get a roommate or two. Do you think everyone could afford a place of their own when they were young?
@@mph7282 An apartment designed for one person should be affordable by one person
$4 for a taxi? You riding in a tuk-tuk?
$40 minimum.
As an Indian how do you even know about tuk tuk?😭😭🙌🏻🙌🏻
No he's implying that gas and car insurance for the morning commute comes to $4. To actually save that money you have to not own a car at all.
Then you need a taxi to get to timely appointments, and you're out a lot more than you saved.
Miss the dr. Appointment by one minute because of commute delays, and you'll miss a whole extra day off of work too. This guy is completely out of touch with 99% of america.
@@Livvv_happy_3727Been to India a few times & have plenty of Indian friends. Been in a few late night tuk tuks myself, very scary😅
@@koboldsage9112Aha, in that case $4 is a bargain
Sad thing is, a million dollars is barely an extraordinary amount today let alone in 30 years time.
It's a lot now.
Million dollars will always be a lot of money if you manage it properly
Great amount of money to the ones who knows how to manage it.
@@santiagokiwi3187 if you're looking at just spending the million dollars it's not very much money but you invest it and make as much as 5% that's $50,000 a year you'll still have your million if you don't spend more than what it earned in this case would be 50,000
Yes, but a million dollars in 30 years time is still a lot more than 0 dollars in 30 years time.
Just remember to treat yourself from time to time. Dont be too strict
Edit: WTF?!! How? 65k! Thank you, i guess
Like cheating on everyone & everything!!
@@worldsfinestnegativemind9108 or worse. Sugar donut!
My great grandfather father tell my grandmother this, she taught me this.
Always pay yourself first.
yeah like once in a couple months, but most people are too weak to go without some trash food for a week 😂
Yeah the issue he's talking about are people who say "just one coffee a day isn't the difference between me being broke or not"
Another Tip from me:
Don't build a house. Live on the street. You will save on taxes, gas bills, electricity, and maintenance.
😂
Definitely don’t build or buy one. Rent.
Not with the cost of rent these days
Thanks. I was able to afford more crack using your tips
@@missheepious 😍
The problem is I don't want to spend 30 years hating my life.
Making your own coffee/sandwiches is going to make you hate your life?
@@edzilla134
Starbucks tastes better.
I can make my own tasty sandwiches.
@@stuartd9741 not necessarily, you can buy coffee pods, which are not as cheap as brewing your own coffee from coffee beans, but still maintain the flavor profile of the coffee you know in love.
@@edzilla134 yes
@@jaydeattsthen you must have a shitty life. Let’s put it another way: small expenses can add up. If you cook the day before, make double portions and problem fixed. Be conscious about expenses which occur daily like transport or your daily coffee. If you don’t want to be smart about these things, then fine. But don’t come complaining “housing is unaffordable”, “you need to make 120k per year to make ends meet” and bla bla
This man touched a donut with his bare hands and put it back on the shelf. Society is crumbling.
lmfao underrated comment
I was looking for this. Can't believe he did that.
Disgusting
He probably bought it lmao, at least I hope so
I had to rewind it cause I thought no way. Hope he bought it
I don't buy coffee on the way to work, I cook at home, I don't eat snacks. I don't pay for public transportation. Where are my 10k?
That’s what you should ask yourself. Do you even budget? If you did, then you would know where all your money went
Used up on other things.
Actually make a note and keep it on such savings if you actually want to be saving them.
why are you NOT born to rich parent !!
Well, I'm sorry but the market decided that your job, even though it probably consists of at least 40 hours of hard work, isn't worth an actual, comfortable living wage. 😢
It doesn't matter if the economic value of your work is higher than that of many other jobs, it's just how the system works. 💁♂️
And in the end, why would you ever complain, don't you want to have the infinitessimaly small chance of everybody having to bend themselves to your wishes, your wealth?
I think you should do what you enjoy in life
“I understand homes are unaffordable but $180 a year for Netflix is out of line.”
Piracy is free
Cope
@@tsunami3834this
Imagine people outside the US where it's 180 x 4.4 per year.
It might be the case that housing is too expensive = but that's not what he said or is addressing. He is saying you could save lots of money
After reading "Invisible Laws of Prosperity" by Oliver Pierce, I finally understood why so many people struggle with money. It reveals stuff that most people don’t even know about how money really works. Has anyone else read it?
I have not read it, thanks for the suggestion.
Bot
Your boomer landlord who is charging you half of your salary in rent for a house he bought in 1972 for the price of a pack of cigarettes:
It should be forbidden to charge more than what the house costs
In 1972 when we were 19 & 20 years old, our rent for a delapidated bachelor's flat, with a shared bathroom and shared laundry required one entire salary. We also paid for our gas and electricity.
Land scalpers. That's what he is.
@@felixthecat9027stop the cap lad
@@felixthecat9027 were you working 5 hours a week? Making $2 per hour?
Trust me, this isn't the reason you're not a millionaire...
Yes it is trust me on that
It really isnt lol, it is maybe the difference doing okayish and being poor, but not between being a millionaire and being okayish. Also, saving up to 10k a year on coffee, a treat and netflix.. I am sorry, but that does not lead up to 10k, perhaps 2k if where being generous..
I mean this guy doesnt speaker yapanesse if u would live strict u could earn big money. But the 8% every year wont make milion dolar lol
He never said anything about being a millionaire by doing this
@@draco2378 he literally said you'd have over a million dollars. Now we can argue about what the exact definition is of being a millionaire, but it is kinda implied.
Better plan:
Transportation: Walk 0$
Dont drink coffee 0$
Live in a box Rent is 0$
Beg for food 0$
Free life
Wow Sir, you could afford a Box these days? I have to admit im a bit jealous. But im sure you earned it.
😂😂😂😂😂
He ain’t wrong
Walking isn't free. You must calculate the energy burned and the corresponding food costs to fuel that energy.
@@V2RocketScientist"Beg for food"
Let me give you a real example...
Rent : £1,100
Council tax: £200
Energy & Water bills: £150
Food: £600
Subscriptions (Amazon prime & Disney+): £20
Coffee: Included in groceries, I don't buy from the coffeeshop
Student loan: £450
Transport: £450 (I live outside London as I have a family and rent for multiple bedroom occupancies is cheaper)
And the biggest steal of all: Tax: £2,000
My wage is £85k per year as well, so I am by all accounts supposed to be pretty well off. Maybe if I really wanted to I could live on beans, but that's about the only place I can even hope to save money.
Hello, can I ask you a question?
In 100 years I’m going to have £215,000,000 thanks mark
Your rich grandchildren will be happy
@@ozymandias8523 nah inflation would catch up, so they are going to be comfortable, but the issue is that rich kids tend to waste their parent's money
we are seeing time and time again at a lot of wealthy kids are just throwing away their parents money and some parents are either sick of it or at least have one child in the family that they know they can trust to pass the business to
Exactly that@@ozymandias8523
Imagine in 300 years 🤩
Inflation 😯
my problem with financial advice today is its like:
coffee: 4$
Lunch : 15$
Rent: 5,000$
Netflix : 20$
Student loans : 300,000$
Uber : 50$
Medicall bills: 875,000$
and then yall are just like "if they skipped coffee this morning they couldve saved 4$" like THATS the problem
Where are you at paying $5k in rent each month? I get what you mean but there’s no need to be hyperbolic. If you owe six figures in student loans, that was your mistake.
well you have to multiply cofee, lunch, uber 30 times to get montly price.
In my country our rent is 50$
@@CybermanKing check Canada
@@tawsifking9336 wtfya, siberia?? 💀😭
You're right, If my Uber only costs four dollars I can probably just walk
Here in Australia, Uber is $10 to go 5km.
I don’t drink coffee at all, I *always* pack a lunch made with the cheapest foods I can find, I drive 30 minutes to work in a used, paid off rice burner, and I don’t have any paid subscriptions to anything- only utilities.
I’m still broke.
This isn’t an issue of “you’re bad with money,” this is a price-gouging issue. We’re paid far too little, work far too many hours, and charged far too much for necessities.
@@hobomike6935 There is always some
money you can save, with that money look for ways to buy things cheaper and offer them at a higher price. Limit your spending to the things you absolutely need to survive and invest the rest
Those little thing make your life worth living. They give you enough strength to face the world one more day.
Learn to meal prep, its healthier.
Maybe develope a love of something other than spending money.
Beautifully said
Not being broke gives you even more streangth.
Sounds like bad coping skills. You could spend the money on therapy instead.
This generation doesn’t know how to save money! I managed to buy a house in the 60s for only $16.56 and a paperclip!
Stopped eating, saved up enough for a coffin.
@wenterinfaer1656 to be fair, most people eat significantly more food than they actually need to
😂
Same I saved up 300$ in 1956 and living in my own home now
You got me in a first half not gonna lie 😂
You can put coffee grind in your mouth and pour down hot water to save money on the coffee cup as well.
U ain't right for this one 😂😂😂
😂😂😂😂
Savage !!
Or steal it. Boom completely free!
Best comment I have ever read, thank you
Remember kids, previous generations didn't have to make these sacrifices, but they cant accept the fact they've made the world demonstrably worse for everyone
Previous generations famously frittered away pocket money on $5 coffees and Ubers
@@4thGradeReadingLevel They spent more of their income on leisure than the current one does because less was required to meet their basic needs.
Can't remember something you just made up
@jsebby2284 Empirical evidence exists and Google is free
@@rayodios5826 your comment should be directed at yourself lol
Totally agree. Am a millenial who stopped buying that commercialized starbs coffee, packed my lunch daily and woke up early so I dont have to Uber every morning.. and I saved X00,000 in the past 2 years. Really true. 👌
all these rich old geezers telling us to live frugally and miserably while they keep taking home million dollar bonuses for doing nothing.
At least with this guy he actually does have videos with legitimate advice. He's just saying that the more you can cut down your expenses, the more you can invest in yourself. Whether it be building an emergench fund, setting a managed refirement savings account that grows over time, or taking a risk with the stock market.
This short comes across as preachy, but he has a valid point.
@@deadturret4049yeah with 20 dollars extra sure
Going out to get a sandwich for me is just as enjoyable as getting one from the supermarket. It costs 3x less.
I don't think he's telling you what to do. It's just good advice you can take or leave.
I have a seven-figure job, but it took me 35 years of hard work to get there.
This gives off “just stop eating avocado toast and you’ll be a billionaire” vibes
That is literally a completely reasonable thing to tell people though. Plenty of people spend $20+ on simply their food everyday that they go to work which nickel and dimes the absolute hell out of you. If you're ordering avocado toast consistently then you're literally burning money away.
it is not blanket statement for everyone. If you are ambitious with high earning potential, investing in your time is better.
@@chaotikkiller but that's going to make them rich billionaires don't want to admit the only reason they are rich is from profiting from other ppls labor Elon musk for example he didn't start with nothing his dad own a diamond mine im south Africa that used basically slave labor then when Elon wanted to start a company his dad gave him 200,000 dollars to start there all liars
@@chaotikkiller but that's not the real issue, The real issue is how wages haven't kept up with the cost of living and the literal overpricing of housing. The " Don't eat avocados and you'll be a billionaire" is just another phrase the boomers tell to delude themselves from the Economic challenges they created and blame it on younger generations
@@gen169 The real issue is that there are too many people who read what you're saying here and think similar to you and believe they have zero chance at gathering wealth ever. Saving money that you spend on luxuries and putting it towards a safe investment is a good way to set yourself up for a good retirement even if the amount you can put away is small. Too many people want to just give up and blame everything and everyone for their inability to even try.
What I hate most about videos like these, is they assume you do this every day, and not once every other week. Do some people do this? Yes, but they’re not watching videos like these.
Well, just for some perspective, my coworkers are all "that person who spends $15 DAILY on lunch", so there are absolutely people out there that do all this, then complain about how they can't afford to live.
most people spend MORE than this guys says
How to talk a whole load of nothing. The video is targeted to those who make the financial decisions that are questionable at best even if they "ain't gonna see it." If you are reasonable with your money and doing said financial decisions in small enough doses then good job 👍🥳🥳🥳
Most people are probably “wasting” $100/week minimum. For instance that could be booking last minute flights instead of booking in advance or getting an apartment that’s a bit too expensive.
@@Mogardie and risk my travel plans falling through? No thank you.
And no one is buying wrong apartments that are too expensive for them when they’re all too expensive.
“Nice lunch from the food truck.” 😂😂😂
I'm a 24 year old and live in Malaysia. I don't spend on subscriptions or krispy kreame. I was on the edge of a deficit monthly (RM1000 allowance) trying to brew my own coffee and cook my own meals with groceries, not to mention equipment. My country's public transport lost me a lot of time for travel purposes such as work or classes, making my life miserable.
After getting a budget car, eating out at budget places, and getting coffee from McD breakfast McSave, my monthly finances saved about 30 - 18%% afterward.
This is targeted more towards westerners.
SE Asia is a complete different set up. Usually cheaper, easier to buy a $1.50 meal out and rider a moped.
Even in the west there's more nuance to this advice.
ajar saya
I spent 3 weeks in Malaysia loved it
There's Krispy cream in Malaysia?
The thing is I don't drink coffee, I make my own meals, I don't have unnecessary subscriptions, transport is 3$ here and I'm still broke
so where is your money going? You have to keep record of every spend and you will save some cutting where its possible. In case your income is so low that it can only cover the absolute basic (groceries, rent, etc) you should really look for a better job and alternative income sources (reselling, part time jobs, etc).
@@mc1996Bro, that's not how this works, not everyone can just "look for a better job".
Most people that complain about too little money don't have the problem of spending it on unnecessary expenses, people that do that usually have enough to live comfortably...
What do you mean you cant look for a better job? That doesnt even make sense@karpi470
@@daretochallenge8250
I can answer this one: rent averages $1500 in the US. On my state's minimum wage, I bring in $2,000 a month working full time. That leaves you with $500 for food, transport, and utilities. And god forbid I get hurt and stuck with a medical bill, or need new shoes. So, obviously, I need a better job, but every "entry-level" job that isn't minimum wage wants 3 years experience minimum in the job's field, a college degree, or both. Obviously, college costs money, which isn't possible in that situation, so that's out of the picture, which leaves waiting. This would literally be my current situation if I wasn't fortunate enough to have had a dad in the military, getting my college paid for.
@@daretochallenge8250 There isn't an infinite supply of jobs. Not everyone lives in a city with a lot of opportunities. Depending on your circumstances, a certain job can be your only / best option and still suck.
Reminds me of an old joke:
"Ifvyou quit smoking now, in five years you'll be able to afford a Ferrari."
"You smoke?"
"Nope."
"So where's your Ferrari?"
"My Ferrari is right here!"
"Wow, you bought that with the money you saved from not smoking?!"
"No, I'm an investment banker"
🙃
Well the thing is you cant resist nice things after sacrificing something nice
You are making fun of my little scale Ferrari?
Not only commuting from the bus stop, but living at the bus stop will save a few more dollars 😂
Hello, can I ask you a question?
Lmao, like that will save us from 15% yearly inflation and skyrocketing house prices and cost of living.
Yep. That million in 30 years will get you a snickers bar and a couple rolls of toilet paper.
and then when I stop getting chocolate rolls and my lunch at the grocery store next to my workplace, I'll get blamed when they close. Nah mate I'm done taking advice from boomers 😂
Yeah thats the same thing I had in mind...8% interest okay, but what about inflation?
@@Steltzer.1914Inflation has never been 8% every year. Average throughout history is more around 2-3%. Investing over time has always greatly outpaced inflation, hence why people have 401ks and people much richer and smarter than you keep stock
@@silentbovo1 not all countries have 2-3% inflation like USA...Hungary had +20% in the last...3-4 years, but I would say since covid hit. Only a 2-3 months ago were they capable of solving the inflation...
In 30 years that won't buy a house
It’s not meant to 😂 you live off the interest generated - 8% (average) on 1mil is 80k my dude.. plus the pension you receive.. you’re laughing
@@Swolphacles
That's also 80k post inflation.
@@SwolphaclesMost people don't have a million in the bank😂 I can't remember the exact statistics but it's something like 85% of UK adults surveyed had less than 1000£ of savings in the kitty
Enough for down payment in 10 years.
@@thatpeskyswanin America it's even worse. Most adults have fewer than $500. Learning to manage finances is important, but most people are struggling so much they don't have any meaningful finances to manage
you know he's a boomer when he thinks $4 for transport is expensive
And also because he thinks a ride even costs that little. Maybe if you have a monthly pass for public transport, but even that can cost more (see London), and it's a set price you can't have further savings on. Anything most people spend on "frivolously" is already an occasional thing and no one has ever become a millionaire by saving some snack money.
@@girlwhomustnotbenamed4139 fr thats what i hate about this stuff, sure its helped millionaires before they were millionaires, thats because they were broke and that little money helped back then, once you're rich that amount of money becomes negligible and you wont think twice about buying $10 snacks or spending $100+ on travel..
Back in my day...
i dont drink coffee, walk everywhere, dont buy any lunch or "treats" and am still broke... thanks for this important information
Lol 👍🏻
Do you have a job?
@@silverltc2729Why have a job when the government just gives you money to be poor?
Go get a better job and live on less than you make 🤡 wow problem solved.
What are your expenses? Give me a number to every expense
$4 on transport? This guy's never booked an Uber or Lyft in his LIFE
He's a boomer after all
$4 on overpriced transport was right in the 80s
Bro here 4$ is overpriced. I pay around 2$ for 20 km of travel distance
@joaquincaceresguibovich3182 once got a cab to work from my home due to car tire issue - 17kms away. Cost - $50. No buses go that way (paid for BY work as I would never pay that much for a taxi). $2, $4, even $10 or $20 would be amazingly cheap.
and he claims that's "over priced transport" for $4 when u are spending more than $4 on a bus pass anyways 🤣🤣
Why is a multimillionaire telling me to use public transportation? Something about that shot pissed me off
To save money
@@Noone-d6uhe's old and out of touch
@@Noone-d6u "Bill Gates here telling you to live in a box under a bridge, to avoid paying rent so you can save money!"
Helpful, helpful stuff
A lot of Wall Street executives use public transportation to save time and money
@@lavenlaven84proof?
Loving your approach !!!! Very wise advise
4 dollars for “overpriced transport”? Could this man possibly be any more out of touch lmao
"It's a banana Michael, how much could it cost?"
i wish even the BUS could cost £4 now but its more like double that lol
@@asjbfjbkawyou bastards are lucky still. in the US we spend so much fucking money on gas it makes 12 pounds per bus ride look like a steal
@@MrDublemAt least $10
@asjbfjbkaw you dont have bus monthly/yearly passes? They are usually cheaper than buying a ticket every day if you really need to travel all the time and have no car.
A british man with a pure british accent saying the 'dollar' sounds........good
Not to be pernickety but he has an accent from the South Coast I'd guess Portsmouth way on....
I couldn't agree more 😂
Love it ❤
@@lincolnengland5005 He's from Norfolk and he has a Norfolk accent. He now lives near the south coast.
He says he uses dollars instead of pounds because using dollars appeals to a more global audience, as the dollar is the most globally used currency
Bro just said " give us all the money & work like an ass , take $1m when you're on the way to catch the bus of afterlife "
That is why this life is not worth we will die either way dont follow money you will always have to sacrifice something
He didn't say anyhting remotely close to that
@@jsebby2284But he implied it. Learn to think critically.
@@hellucination9905 he didn't even remotely imply it. Learn to not be an idiot
I've actually tried this for an inflamed thigh muscle & knee. This helped me out tremendously, and I wanted this fixed ASAP since I wanted to apply for a specific job. New York is a craphole and this is going to help me escape... Thanks you.
"in thirty years you'll have over a million dollars"
Bro in thirty years ill be *dead*
That’s a long time to punt life as well
You’re currently like 50 years old?
@@dashiefiles I mean the body is worn down usually by 60. Its not the same having fun at 25 vs 65.
😅😅😅
That’s why you start at 15 or 16 of 17 or 18 or 19 not at 30
...30 years of misery...
You don't have to be so extreme about it, but cutting some Comfort to be financially free during retirement is a good trade
Don’t be extreme. Cut some unnecessary spendings doesn’t mean you can’t enjoy yourself. For example if you were planning to go to holiday on first class and live in a large popular five star hotel, you could instead fly economy and live in a smaller four star hotel. This doesn’t mean you can’t go to your holiday, it’s just cutting some spendings without really compromising too much.
@@j123-x2r of course, but my morning coffee from starbucks stays 😁
Don't go broke trying to look rich
@@M.e.h..$1M isn’t financially free… What do you think that $1M is going to be worth 30 years from now. Close to $250,000 today at the rate of inflation. That’s beans.
And in 30 years a million dollars will be worth about as much as $10,000 today.
$10000 better than nothing
Keep making excuses
That’s why investments exist. Put it in the S&P and you’ll easily offset inflation plus generate income
@@counterleoabsolute BS. S&P always follows the inflation, it’s good to save but it won’t ever make you any money.
@@EnderViBrittania i make 85k a year, and have a pretty substantial amount of money in my savings account, Roth IRA and various investments. and I'm telling you, The economy is in the toilet, and nothing short of overthrowing the government is going to save us. I'm not making excuses,, you're ignorant to how far beyond saving this country is.
And yet my dad always said,
"Son i knew people who saved and saved for years, and before they even had the chance to spend it, they died. So enjoy your life and do what you want to do"
And its true. In 30 years will we really be botherd about having millions in the bank? We will look ridiculous in a lambo and wont care about looking after a mansion.
How to lose the will to live speedrun
You can’t live without Starbucks and Netflix? Damn.. you might not make it.
@@supreme5998 I see you're lacking education on this matter so let me teach you. Most people have these things called friends and relationships. Friends like to do things, together. Things that make it worth waking up every day. These things usually involve going to cafes and restaurants together, and watch movies together. Existing as a frugal hermit is incredibly cost effective, but we only have one life and I think if I had to live as a frugal hermit, I'd sooner commit die.
@@327legoman you act like skipping out on starbucks will literally ruin your life
@@327legomanthere’s a balance, buying food once a week to hang out with your friends which you will remember more fondly is a lot better bang for your buck than spending money on lunch everyday.
@@chichichiyomi__ Starbucks in the video is a specific placeholder. It doesn't take a genius to work out that said placeholder is taken up by a variety of different social events similar in nature in different people's lives. The nearest Starbucks for me is literally a 2 hour drive away. Everyone can live without Starbucks. Most people go insane when forced into solitary confinement.
if you spend $5 on your morning coffee, you're at the wrong coffee shop
Out of curiosity, what country are you from? In Australia for example, you can’t find a coffee for under $5 unless it’s a service station. I thought all western countries were at this shitty point where everything is ridiculous…perhaps I need to move to where you are 😁
@@ohjesswhatamessitaly, salaries are waaaaay lower, but if you see a coffee for more than 2€ you leave the shop
@@ohjesswhatamess if you live in Australia rn, try visit Bali, malaysia, japan and korea. You can enjoy specialty coffee (arabica G1 with SCA cupping score >8.00 excellent) way cheaper and better than Starbucks. And yes, I'm talking about drinking coffee. not drinking cream
@@fillemooon9164 I had 5$ coffee in Rome, the cup was so small, and it was just half of that cup
@@geografiainfinituluiRome is full of tourist traps leaching off gullible Americans
Dude is telling us not to eat and walk 50 miles to work, no thanks. 💀
Takes me more time to shop for, organize & make a sandwich every day than the money it cost to buy one
thats why youre poor
@@PatrickGigachadshut up
Wtf, he said make your own food at home and consider public transit. He never said don’t eat and walk to work 😂 No, nvm, you should just give up. I’m sure everything will turn out fine 👍🏽
@@GabrielBacon there's a big difference between being money-conscious (knowing how much more you can afford to spend to have some leftover for investing) and not spending anything at all on things that can not only make you more productive but also happier overall. And just for your information, I do investments too as he suggested, and actually wouldn't be surprised if you were poorer than me, based on your lower-class obnoxious behavior on social media.
Thank you for these important lessons that you have been givimg❤❤❤
Hahaha I like the energy
i know i know, but buying overpriced coffee in the morning is one of the few upsides in my day
you're not drinking coffee you're like drinking a liquid cake
@@Furret_engi let me enjoy my coffee milkshake in peace
@@benjimiguel17 yeah but you're not a real coffee drinker like me! I'm addicted to a legal drug!
@@Furret_engi you okay?
@@benjimiguel17 n o .
The biggest wealth killer is the loss of buying power worldwide due to inflation pops.
It's really easy to make money when you bought a house for half a year's salary while nowadays you can't afford to live on rent with a single salary
You forgot the part where you rent that house to younger generations making impossible for them to buy and giving “advices” to save in coffee.
Yeah. That’s the point of investing. People invest to combat inflation. If inflation is 5% and your money grows at 8%, you’ve hedged against inflation.
@@Ksenia584 You're right, I wish I was investing instead of playing football on the backyard while I was seven.
The biggest wealth killer is wasted spending on wants.
When did people buy a house for half their salary?
No - you can afford to rent on a single salary
@@jsebby2284bullshit.You save 10k a year now what? After 30 years when you are 60 or 70 MAYBE you can get another house.Congrats bro you never sPENT any money your whooe life and went for work - home and yoi have another house at70 .
What I'm hearing is "if you take the joy out of your life and work like that for 30 years you'll just have a million dollars more". Not sure if that's a life worth living.
If the only joy in your life comes from buying random shit and wasting money, sure.
Other people look forward to retiring and having stability
bro casually throwing 10K on the air
Hello, can I ask you a question?
@ry6db go on
DONT LISTEN TO OLD RICH PEOPLE
You’re right. Listen to the broke people you grew up with. They’re really going to launch you into success!
womp womp
or maybe
understand what they are saying
their advice might 'NOT' be useful in every stage of your life
but their advices are more specific which goes excellent with special situations, and you need to find it.
think about it, the much you've lived, didn't you ever thought you had multiple choices and decisions?
and some of them are useless?
and that's where you realise what you should've chosen.
But this situation doesn't happens to everyones life, everytime
old is gold in the way they are treated
Yeah, don’t listen to the people with the most experience
Maybe listen to u, are u smarter?
Or do u have more money?
And then once I have the million dollars, I’d be able to buy Starbucks, eat a nice lunch, watch Netflix, and not have to take public transport. Can’t wait!
"I don't need million dollars, because all I would do with a million is the same as I'm doing right now." basically
where i agree that you don't need a lot of money to lead a life, you are just showing that you have nothing else to do with your life and just couldn't handle that amount of money, or just have no big interest in doing exciting things, like travelling the world
also this is just meant to show how easy it is to get rich
Yep! And you are definitely guaranteed to live that long. So don’t spend anything on yourself today. Put it all into a money machine that the speaker is also invested into so we can all make more money! Now is a great time to invest since the economy is booming.
@@theseekingsankta3106dude cut the crap, most people will never have 1m on hand, unless your name is warrent buffet
If only companies paid their employees enough to afford anything but toilet paper and ramen
You’d think they don’t but go to any shopping mall and they are all packed. So even if the companies are underpaying people need to put their spending in check.
@tobiasthederp That is cope.
First: You get paid according to your skills and your work quality. Improve and make yourself more valuable, and get paid more.
Second: You are complaining and making excuses, as an attempt to avoid responsibility of not wasting money ad the video explains.
In both points, you fail to take responsibility for your own situation, which is the main problem with all the whiners like you in the comments.
@@EnderViBrittaniadont help The beta male Alfa bro😂 what do you make 13$ an hour
@@EnderViBrittaniajust cuz you make kaffefee dose that mean you cant make money to live of? Yes somone can do The job cheeper sure and its brain dead work but again why shoud you not be able to make a living
If you stop buying toilet paper and just go around with a dirty ass, you could save up to $5000 a year, and with an 18% annual return in an index fund you could be a millionaire by the time your friends and family abandon you because you smell like festering shit!
I totally agree. I tell people to look at the amount. It’s costing them over one year not that day not that month but over one year.♥️
When inflation is at 8% currently, your savings is basically nullified.
Well its better than technically lose 8 % a years to inflation
Except he mentioned investing the money you save and the S&P 500 is up 26% YTD.
@@Andrew-it7fb it's up 26% but this was after it crashed and rebounded. It you average over time it is not 26% a year.
Sleeping in a tent instead of renting an apartment is a great way to save money too
Honestly is
Sadly that Is against most locales laws, we dont own the woods anymore.
Guys in his generation ruined our economy and could never understand what it is to be a 20-something in this day and age, why in the hell would we take advice from them when they put us in this position?
Literally. Like he’s ever HAD to do this just to get some savings together
It is Government and financial institutions who call the shots where the economy is concerned - how is that the fault of this guy ! ?
@@jamesbarbour8400 it’s not, but it is the fault of the government when he was the age of the people he’s speaking to. That’s what OC is referring to… also, it’s just really dishonest to pretend that he thinks this is a good solution when foregoing any bit of fun or comfort in life is something he’s never had to do because the relationship between a decent wage and being able to buy a house was actually manageable.
You should definitely take his advice regarding index funds. The point is do the best you can to get to where you can save money, and then that is the tool you should use for saving.
They're not to blame. Life was easier in his time, because the governments were in a developing mind. Now they're in a destroying mode.
This is very helpful perspective and I agree with everything except the lunch. For me by buying lunch, I actually make more money because I work more and my hourly rate makes financial sense to do that.
30 years from now: $300,000 cup of coffee; $500,000 lunch; $200,000 uber; $150,000 donut. Oh and Oops the market just crashed and all your money is gone.
Then minimum wage would be $100k an hour.😂
The living embodiment of "you're poor because of Netflix and Starbucks". I'd never thought I'd see one for real.
He does have a point. If you do this everyday it has big effect on monthly income. You will still be poor if you don't spent on daily fun but you will have like 30 percent more money every month
You can save a part of your income by not doing those things daily.
I mean you can just pirate it
Poorer than you would be if you spent less and saved more.
The guy is sharing legit financial advise. You can cut a lot of costs on daily spending that only marginally reduce the quality of living, like the expensive coffee, eating out vs cooking. The reason he takes stuff like this is because it's easy to think it's just 10$ or whatever more, but in the long run it ends up being a lot of money, that if invested in an index fund ends up being even more money.
I'm sick of this mundane conventional knowledge, guys. Head to Borlest and read the forbidden books, only then will you truly gain knowledge about money
7.6k likes without a comment madness 😅
That’s wild
These bots are next level
@@wc4gaming91 So now we have comments haha. People don't want to comment they just search what I say and they like it.
@@zeshang115 Yes, we are next level. Thank you great bots hahahha
I have written down his every word in this clip. I will read it again and again whenever I wanna buy some sweet treats. I appreciate him a lot
In 30 years that same fiat currency will be worth practically nothing or if you do get to cash out chances are it will be only via CBDC’s and you’ll only be able to spend what the government lets you spend it on. What a misery
Stock up on sovereigns, Kruger rands and buffalos.
How out of touch are you?
Grampa:
how is him giving tips on how to save money make him out of touch? All of this is true
Nothing he said is out of touch
I'd say thinking someone having 45% or more of income going into rent alone. Add in state and federal taxes at 10% or more. The remaining 30 to 40 percent going towards to water, electric, car insurance, car payments, gas, food, internet and cellphone because I have to be reachable at any time by email or phone not just in the office, various goverment fees, parking fees, and throw in medical bills if you are lucky to be able to pay it,
and still having a quarter or more of your gross left over sounds pretty out of touch.
Were you looking in the mirror when you typed that?
The guy is making a spot on observation about the modern world, except the transportation is low.
the biggest wealth killer is the stagnant wage, not a 2 pound sweet treat
No, people don't typically get wealthy from high wages. Celebrities are exceptions. Most wealthy people get wealthy by not blowing their paycheck on dumb nonsense and investing wisely instead, like the video said. You can become wealthy with a middle-class income if you make good decisions, and you can also live paycheck to paycheck your whole life despite making $120k/year.
@@thebellcurve3437that is total bs. Most wealthy people are wealthy because of their salaries or inherited wealth, not because they simply made good investing decisions.
@@thebellcurve3437yeah..3 hours before you die while not having lived..
I work with many people making 6 figures who have nothing in retirement. I have been investing since I have been at around 50k a year
@@JohnSmith-fm3bi not true
Wise words. Some things are still useful to spend a little extra, at least: things that keep you healthy, things that educate you, things that are experiences worth talking and memorizing, and things that save time significantly. They provide income potential, happiness, and savings in the long run.
The issue is that in 30 years that million dollars wont even cover your internet bill 😂
Yes it will.
Also, save more then
@@jsebby2284 Save more? Absolute genius. Save more while restricting yourself and living frugally and then end up as a really miserable person when you're old because you wasted your life? But at least you now have a nice house! ..And zero friends.
@Septembermoodddd you would think it's common sense but in today's day and age yeah it is pretty genius. Thanks man.
Why would you be miserable? How did you waste your life? Why would you just be getting a nice house? And why would you have zero friends?
Dude do whatever you want with your money. You just don't get to complain when you have nothing saved for retirement then.
My statement of "save more" was just a simple repsonse to the guys idiotic comment. It's really not that deep
Man picked up a Krispy Kreme and then put it back. That’s a criminal offence
For real I was waiting for someone to notice
@@blazeruiz8889 I noticed. ThTs what rings are for! Don’t use your hands you savage!
In Australia Krispy Kreme is $28 for a 9 pack, absolutely criminal
@@AxeDragon1989are u sure? Or are you exaggerating
How come people buy it?
Or do I guys have crazy high salaries (like 200k a year)
I of course bought it afterwards haha
Everything added up, but $4 on overpriced transport???! Here in nyc it’s $4 for one foot entering the cab before it even starts moving
Single trip metro card in NYC is only $2.90, and the monthly one is like $132 or something for unlimited rides every month. Much more economical.
Yeah lost me there too. $4 for a ride even just down a street is a great deal.
I don’t use public transportation whenever I go to a new city for a few days for work, no need to burden myself learning their routes and schedules if I’m going to leave soon, so I usually uber everywhere. I was in NYC for two days, was paying just under $30 to go like 3 miles in Manhattan lol
Public transport is $10 return where I live.
We have almost as big a "basic fee" for taxis in my country before it even starts. That, and no one uses a taxi every day to go to work that they could swap out with public transport. Most people already have a monthly/yearly pass and take a taxi when they need to. No one will ever become a millionaire, not even in 30 years by putting that amount of money aside. Plus what safe investment ever actually has an average 8% yield? Any time they promised sg like that, it never materialised. Plus it means you won't have any other savings for 30 years and you will inevitably need funds for things in the meantime because, you know, that's your entire life.
"In 30 years i'll be dead bruh 😭"
People think it is easy to get money, however it's better to live better when you're older, as you can sustain your family and give them a good future, fixing all the problems your family could have it the past generations.
"Just do nothing but work, work and work, and maybe in 30 years, when every part of your body hurts and you can't enjoy life like you used to, you'll be basically a millionaire! Of course as long as the economy stays the same."
Why didn't I think of this before?????
Not spending money and instead passively investing it isnt what id call work now
You can invest money while enjoying life.
He gave an advice to save the money that you ALREADY have and invest it every year. No one said work more
Ah yes, so we should all blow our money at all times so that when we are old and in pain we have absolutely nothing to live on to make our lives manageable at that age.
Saving money isnt work
An index found that consistently makes you 8% interest PER YEAR would be insane.
Was looking for this comment. Bro in this video is just throwing out random unrealistic numbers.
@@sergiomartinez5946 Same here.
How is nobody else commenting on this, he just glossed over it entirely. Who the fuck is getting 8% year on year that's insane returns
@@Rory626and that's for 30 years..
Just be smart and invest everything in Nvidia or Bitcoin 20y back, stoopid :D
I stopped spending money on restaurants, alcohol and hookers. 5 years later, I am now a millionaire.
hahahha
Hookers are super legal btw guys ok
Legend
Take a bow young man
Prove it by helping a brother in debt? For a millionaire 3-4 grand shouldn’t be much but it’ll save me 6-12 months of trying to cut my (very basic) expenses to pay off my debts 🙃
Budget your expenses, save money, invest, that’s all
Don’t stress over the little things. Spend on what you love, save on what you don’t
Calling $4 for transport overpriced when Uber cost like $15 is crazy
Then don't get uber it's simple don't spend money unless you are rich
Enjoy being a millionaire 30 years from now if you're still alive, after that long grind, When you're with one foot in the grave and the other outside, old, ugly with your body quitting on you. Sounds lovely.
Hi, do you really think that at 20 years old? I’m in my Fifties having the best years of my life! Build the foundations from 20-30 and you can have a great life, safe in the knowledge you’ll have a million by 50 maybe more. MT 😎
@@marktilbury everything you said in the video was way cheaper than what it actually is. 4 dollars for transport is not expensive compared to actual transport
how is making coffee at home and home lunches gonna make you a foot in the grave?
@@kjroyalii173 copy my response and paste it into chat gpt prompt and ask him what i meant.
I don't understand. Making your own lunch and taking public transport make you ugly and body will be qutting on you? If you take public transport you would more likely to exercise from walking and probably healthier lol.
The big financial problems people face are huge houses and expensive cars they can't afford, those things make you poor, not a latte or a 2 dollars sweet treat.
latte or sweet treats are those types of expenses which everyone ignores, not those types of expenses which can't empty your bank account
and this guy also told us about that
his advice might not be fully acceptable
but you can't ignore that too
and ofc drinking latte or something is the way you enjoy your life
so that advice wasn't for those who don't want to touch greater reaches (tips ain't always fact, so doing or not doing might or might not effect your life, you can still reach them. but to be honest sometimes normal life is better than being rich for me)
Every week they are
Exactly! The cost of living has vastly outpaced wages. It's all well and good telling people to spend less money but what about the expenses he's not mentioning ridiculously expensive rent and essentials. That's what truly screws people.
Are you guys refuting his $10,000 a year quote here? The math adds up. A lot of you jokers are spending even more than that yearly on frivolous things. What he said and what you’re saying don’t have anything to do with each other
Its sound advice thought. The less money you spend on stuff you dont need, the more money you have to invest in your future
I tell people this all the time. Giving a coworker a ride to work, asks me to stop by the gas station everyday which is no big deal. He spends $15-20 in there then at lunch door dashes something to our work for another $25-30. I told him how he spends nearly half his wages every single day doing this. I told him "How do you ever expect to get a new vehicle doing that? The other half of your income is spent on rent? So how much are you realistically putting back for a new vehicle each paycheck?" He was dumbfounded. I wasn't trying to be a jerk about but like bro, you don't make enough to be doing that and even if you did your throwing away mad money.
Dude just put a donut he touched with his bare hands back on the shelf. Financial advice may be sound, food safety rating gets a 0%
Hi, I didn’t actually put it back, I purchased it . The action was purely for the camera. MT 😎
@@marktilbury ya I figured that was probably the case. It was just a joke.
@@marktilburyyou had the people worried lol
Acting!
@@marktilburynuhuh
Some people can't afford Starbucks. These moguls have no idea
Some people can't even afford regular food, these normal outsider have no idea
#justlebanesethings
He is giving tips for the middle class, since they are the ones that drink Starbucks and use uber
I can't afford Starbucks, it's $3.I live in Romania
And this way I'll lose more time cooking and using less convenient transportation which means less time to establish and expand my business and also less enjoyable life, great advice. The only good point is the Netflix and other subscriptions.
It takes more than a minute to make a sandwich? It takes far longer to get takeout
@@nicholasselke5214 Yes it does, plus you need to clean the spoon, dishes and containers after making your sandwich. Or if you plan to take it to lunch at work, not to mention it won't be fresh anymore. And when you'll be late in minutes, cooking is sometimes not an option but rather buy the food at work.
Netflix is cost effective and cheap doesn't make sense to cancel it to save money this is bullshit
@@GH-uo9fyme dying of old age after cleaning a spoon and cleaning the crumps from the table:
@@nicholasselke5214Takes way, way less time to grab a sandwhich from the corner store than cooking, cleaning, shopping does.
8% is kind of a stretch. 6.6% yearly average what Jeremy Siegel calculated the American stock market has performed during the past 210 years. Assuming there is no yearly fee for your funds. Still, the point is valid. 25% of my net income goes to global ETFs
Saving like this still won't buy you a house at the current house prices. Video is ideological boomer nonsense.
And even better: this is the "stop living" mentality in order to accumulate money.
It would be better to have some more concrete teachings than the usual "cut everything".
@@rolandriva66he said to cut coffee and unwanted subscriptions. If thats everything you have then your life is fucked regardless 😂
@@Richards80 And he didn't even cut coffee, he just makes it at home..
@@Richards80 Yes, you're right😂.
But I meant the fact that they could teach you more important things, about paying taxes, levies etc. If the only advice to save money is "stop spending", but in the end you make bad investments, You're at the starting point . 💀
@@rolandriva66The fact thay he taught us about "stop spending the unnecessary" means many still spend a lot on unnecessary things. Yes indeed, th next step is good investment.
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 Abel Dorsey Thanks for keeping us informed during this times of doubt?
We have been on a recession since the 2000s
Buddy the stock market has gained 26% in the last year
@@matthewpowers6600 nominal value vs real value
With all due respect, the GDP has increased the last two quarters. Thus, by definition, we are not currently in a recession as of the time of this post.
The definition of a recession changed in Bush 2's presidency, so now you need 6 months of economic decline. Any uptick, no matter how small, restarts the clock.
Also, the current economy has been gaining strongly. But the health of the economy has been divorced from household finances to the point where even growing like gangbusters, people don't feel any real gain.
I feel that the last bull run was bolstered by all the money being printed. Major returns next bull run but I think they will be tamer in my humble opinion. A 10x on Abel Dorsey and a 15x on polygon are fair considering how much those two coins are interwov
$fet Made over 200x and it's an old horse. So no
Yes and kinda no. Your right about all the printing and government spending boosting the market better than I might ever will (within our lifetime) but there is still opportunities, just gotta look a little harder.
This is 100% a rug pull scam
Remember 27$
A year has 365 days
365×27 =9855 so he's wrong
I've actually considered not driving. I have great, economical cars, no payments BUT the insurance is outrageous.
I agree that we shouldn’t overspend on unnecessary luxuries every day, but in my opinion the cost of living is hampering most people from saving enough.
From where I live, junkfood are expensive so as the healthy food. If I want a kilo of chicken, I have to work for about 3 hours to earn that money.
I can barely save money. My investment right now is my good health, a decent house to live in, decent clothes, decent job and decent meal.
$4.50 packing your own lunch. Man’s living the good life.
Yes, skimp on all the little joys and conveniences for 30 years, so you can have a mil at 60 when life's way less affordable than it is now. Brilliant. Thanks, gramps.
But you can have a nice house when you reach your 60s! Probably? Maybe? If your savings don't turn into pennies 30 years later! And who will be living with you in that house? Beats me. You didn't really make any friends or establish relationships because you were too busy focusing on restricting yourself from the small things that made you happy..
@@Septembermoodddd That's not the point here. I understand the deeper meaning of what he's saying. Spend wisely, and live well. But you have to take a more holistic view of what living well means. Social factors like safety on public transport or lack of prep time in the morning for people hustling who work 60+ hour weeks just aren't options. Most people who are angry with this sort of advice from older folk (including me) aren't angry at the advice, but more so with the affordability/wages discord. And as someone who survived multiple strokes and a brain tumour at 24, life's unpredictable. Gotta treat yourself every now and then.
A saving tip I always considered on a unserious level is to take advantage of my work place at the utility’s company having sauna, showers and free laundry/dryer machines and just live in RV in the parking lot at night 😂
But then again, I have a wife, kid and 2 dogs and don’t wanna share a small RV with them 😅
Then at the age of 70 you’re diagnosed with cancer and told you have 6 months to live, as per my dad. Don’t waste money but spend it on the things that give you pleasure. You’re a long time dead.
Q: How out of touch are the boomers?
A: Yes
Everything was way too cheap
It's like they think inflation doesn't exist
All of his advice is correct
@@DannyCheezitsits correct but also unreasonable. Most people that spend money are already aware of what theyre spending it on. These content creators try to tell us the alternatives but we already know what they are. The issue is combating the convenience of these services.
Transportation can be extremely unreliable. Sometimes you might end up waiting an hour for a bus in the rain, cold, etc. Or you may live in an area far from transportation. You could bike but thats also extremely strenuous depending on the distance.
Groceries are extremely expensive nowadays and the cost doesnt also include the time, and labor that goes into preparing, making and then cleaning afterwards.
Agaon, just cuz the advice is correct doesnt mean its reasonable.
@@ace2311i mean it really isn’t that unreasonable. he talked nothing about groceries or having to buy anything necessary for survival in this. he’s basically just saying there’s a lot of junk out there that people buy every day, and don’t realize it all adds up significantly. skipping out on just a little bit of that junk each day can quite literally save you thousands in the long run.
Look at who is using Klarna, PayLater, Affirm, Sezzle, Zip and all that shit?
Is it boomers? No.
Do boomers force others to use it? No.
They might just be doing something right sometimes...
He's talking to rich people, the rest of us do all those things anyway, and then they just put the rent up 8k a year.
The moral is, learn to adjust and adapt. Prices go up, never down, and you must evaluate what is priorities over pleasures.
Rich people spending more then ur income on random bullshit but tell you not to buy a coffee on the way to work 🤣