People bash me for not having a TV, not drinking alcohol and for going to bed at 9pm. If you don't have haters, you're not doing anything right in life.
😂 I so agree with you! I retired at 58 and created a life that I don't want to escape from. But so many folks are like: why don't you want to travel to the next big city and go shopping/ go on holiday/ buy a better car! Because I am content- I don't need to escape!
I live a frugal life and consider myself wealthy. I have my health, great family and friends. I live in the country with beautiful wildlife. My husband and I share one vehicle, one cell phone. I cook wonderful homemade meals. Take walks with my dog everyday. Gardening and thrifting are a blast! You don't need expensive things! Have fun! Enjoy a cup of coffee, a few laughs and appreciate small stuff! ❤
We live Ina double wide mobile home in a small town of 500 people. Before I retired I paid off all bills. Our taxes on the house are less than $300 per year. We now live on social security around $2000 per month. Get out of the big city. I hike 4days per week. Mountains are 15 minutes away. Living the dream. 😊
I live on $2200 a month. I don't drink or smoke. My car is a used car that I bought almost 3 years ago for $600. My rent is $635 a month for a nice 1 bedroom apartment. I have only basic expenses, food, gas, electric, phone and insurance. I save as much as I can each month. I'm doing fine on my low income. Keep helping people Austin.
I live alone in a 3 bedroom house with a big backyard. I only use one bedroom and the kitchen (I eat standing up, rarely sit to eat at the dining table). It is too much house for me but the mortgage is almost the same as renting a decent apartment. I could rent a room (not out of need but just to have company) but company will be at the expense of my privacy and that is too expensive.
I have a huge house after my divorce. I have kids renting the garage and its upstairs apartment and a nephew in the inlaw suite. They cover some of my bills but also have been so amazingly helpful with repairs, driving, eating leftovers :) get a college kid
We are a family of 3 on $2600 a month. With a budget its very easy to live on that little. It can get tight around Christmas but bills are paid roof is over our head and food in the bellies. What else could you possibly need. I find the more stuff we have the less we spend time with our family. I would rather have the tight family bond over the stuff.
Amen brother! I’ve never had a car payment and most of the cars I’ve purchased cost less than $5,000. In fact each of the cars I drive today cost me less than $2,500. They are very reliable and people are surprised when I tell them they are nearly twenty years old. “They look brand new” is the comment I usually get. My secret is that, amortized over time (there will be expensive repair years and inexpensive repair years), maintaining the cars I own has been cheaper than making new car payments. Each vehicle has around 150,000 miles on the odometer and I would not hesitate to drive either car anywhere. Love your videos. I’ve been with you since your subscribership was very small. Glad you are doing so well.
I think that when you reduce your spending, you start craving less and loving what you have more or when you buy something it actually has a purpose in your life and makes you more grateful. That gratitude radiates into a passion for living and you actually become a more interesting, attractive, humble, grounded and relatable person. Your energy changes and people just gravitate towards you. You start appreciating life and living in the moment much more. You also have to either go visit or understand how people live in other countries. We are so blessed in the US to have fresh food, Amazon, AC/heating, water, showers…the list goes on. My dad is from a small village in India and used to take baths with a bucket.
This year we've begun our frugal journey. We've started eating at home more and the rewards are great! No more getting ready, getting in traffic, waiting for a table, and no more $100 meals. I actually prefer staying home and cooking my own food. Also, I've given up my online shopping "problem ". I wear what I have (which is more than enough). I scrutinize every purchase and am decluttering stuff we no longer need. It's been very liberating.
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.
The adviser I'm in touch with is 'Stacie Lynn Winson, she works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else. for me his strategy works hence my result. he provides entry and exit point for the securities I focus on.
I just Googled his name and his website came up right away. It looks interesting so far. I'm going to book a call with him and let you know how it goes.Thanks
Money can’t be your only measurement of success. I have had successful career, made $ in stock market, own my home and vehicles, a 45 year marriage, raised and educated 4 children that are doing well. By most standards that is success. But then my spouse passes away unexpectedly. And the only thing I consider a success is my children n grandchildren. Nothing else really matters .My advice? Nurture your relationships with family, and work on your spiritual relationship with God. Those are the things that matter.
Creating you own definition of success if such an important one. You have to be contented and trust you own path. Never compare yourself to other people.
A year and a half ago, my salary went from $45,000 a year to over $100,000; just from switching jobs. I still live in the same house because the mortgage is super comfortable and drive the same car because it's paid off. For the first time in my life, I'm not living from paycheck to paycheck, and I am extremely aware of how lucky I am. Now I have an emergency fund, retirement accounts (two of them) and go on better vacations. MUCH better vacations than peers who have bought bigger homes, wear designer clothes, and drive luxury cars, who say that they can't afford to travel like that. Think of how much that $1,000 a month car payment would affect your life if you could save it, Toto.
One of my goals was to have my vehicle for twice as long as my car payment - so five years of car payment - five years no car payment - that car actually lasted 14 years and made all the difference in reaching my saving goals.
My Toyota is 18 years old. Still going strong. I think about getting a good used one cash, but for what?! Nothing wrong with the one I have. Waste of money to do that in my situation. So I save about $2,400 a month after living expenses. Money doesn’t really excite me. Just doesn’t. I’m a very quiet living person and enjoy my solitude and projects that I do. 😊
I was going to call someone to fix my ice maker. I didn’t want to be taken for a $$$ ride so I looked up what the problem could be and how to fix it. The site gave a most likely cause of the problem and a difficulty level rating to make that fix. $94 and a half hour of my time is all it took to have the ice dispenser working again.
For the last 15 years I have done as much shopping as possible at thrift stores, 2nd hand shops, rummage, estate sales, etc. I have found quality items at deep discounts. Shop the bargain basement groceries when I can.
My number one frugal living habit that made my life easy was learning how to really cook. I've gotten to the point where restaurant food is sub-par to my own cooking (my family agrees which is awesome). We only go out for things that I can't easily cook like sushi for example and that's on a rare outing. Contrary to the whole plan your meal plan for the week to save money approach, when you truly know how to cook the absolute BEST way to save is to buy what's on clear-out, on sale and deeply discounted and figure out what you are cooking based on what you got inexpensively. I always hit up the veggie/fruit cart where they are deeply discounting as many of the items can be cooked that day without issue and cost pennies to the dollar. Here in Canada that makes a huge difference in costs as the price of groceries have shot up a lot.
0:59 The cost of living varies Greatly region to region. Myself, I live very comfortably on $1,600 a month but expenses in my area aren't as bad as living in downtown London, Toronto, Manhattan or Miami. I'd say that the person who find $3,200 a month exceptionally low may either be trapped in an area of high COL or they might be wasteful with their money; They need to make that determination themselves. Then decide what they can do.
You’re so right. Keeping up with the Jones and their lifestyles is not the way to go. I downsized my home and couldn’t be happier. I’m frugal at heart.
I own my own house outright because i saved to pay for it. I own my car outright, always have & always bought used cars under $5k. I have no loans & never have. I do all my diy & repairs through researching & being self taught. I live on the equivalent of $450 per month & only spend on what i need to improve my life. I couldn’t be happier. The simple things in life bring me happiness, living in the moment, not materials.
@@tacos_are_life Thank you. Yes the simple & almost always 'free' things in life put a smile on my face. Nature in all it's forms, a chat exchange with others, laughter at life happenings, being at one with animals, being in the moment as much as possible etc. All the very best to you.
Excellent video. The key point living debt free. I own an older, paid off minivan and use it for odd jobs and scrap metal recycling. It is very enjoyable " earning " free gas money and free lunches. And NO boss. Thank you Austin for your sage advice.
Love your videos and advice Austin! I too am on the path to living frugally, and am enjoying the lesser stresses of having no car payments! I was considering getting a new car, but now I have decided to continue with my current car, for another few years 😊
That is very true about being adaptable. I have friends that are not making it. They actually think that people are supposed to eat out once a week that’s supposed to be a luxury a celebration not something you do weekly turn off the TV sell the TV and spend your time taking care of your health is way more important.
Interesting video. There’s many ways to cut back and live simple. For me, not getting sucked into regular eating out, far away vacations to post about, not driving that luxury car really keeps you out of trouble. Not owning your own house is becoming more sensible due to the situation, no need to put pressure on yourself to have what everyone around you thinks you should strive for.
I went from owing a house to an apartment, very happily. Some of it has to do with the time of your life. I owned my house in one state and moved to another state…I was ready to not have all the responsibilities of ownership. I was very happy with that situation for 10 years…until I decided to move again. Now I own a house again and I’m very happy with my choice. It’s all about stages of life.
I'm living on a little over a thousand a month. I have no house or car payment. I'm in my 60 and in my entire life have only bought two cars where I had to make car payments. the rest were all saved up for and paid in cash. I live frugally and with intention and know where every cent of my money goes. Expense tracking and budgeting are the keys to living a a Frugal and happy fulfilling life.
We live on 2000$ a month for two people, we have no house payment and car is almost paid off and we plant a garden and can our food, we usely have a deer we process every year and I dehydrate some of our food, I keep inventory of what we have so I don't over spend at the store
In the UK owning your own car,even if it was a scruffy old banger has always been the norm. Leasing a car was never a thing,or rare. You might hire a car in particular circumstances only. Lately I've seen a couple of ads promoting the leasing idea,the selling point is that you can impress your neighbours by having a much nicer car to drive around than you can actually afford to buy.
I live on 2500 a month and some live on less it just depends on how good you are with your finances. People that earn more usually spend more because they take their income for granted.
Austin, can you please make a video showing us how you shop at the grocery store and how you do your meals for the week/month/however you do it. I remember you made a "spend the day with me" video quite a while back, but I would really like to see a more in-depth grocery shopping/meal planning video for your lifestyle. Thanks! ❤
I always look forward to your videos! Almost 4 years ago, I turned my Toyota SUV into a Delux micro home and moved in full time! I quickly became debt free and my total monthly bills are less than $500! I now have the income to take care of all my needs and have plenty left over to live an amazing life! I own minimally but Live Life with Passion! I frequently travel and spend as much time with friends and family as I wish. I've chosen Experiences over Posessions and have found a Happiness and Contentment I never knew existed! And I'm so VERY Grateful!!!
@@zoraidita2022 This Lifestyle has allowed me to discover what Happiness and Freedom really mean. I wish that more people would discover it for themselves. Just imagine what you could do without the expenses of maintaining a traditional home or apartment. To quickly become debt free and to invest for a secure future and have complete control of every aspect of your life... It's just like Heaven
I lived on the streets and after years of hard work now I have a house and a rental property. I still choose live in 750 square feet with my wife and it’s all we need!
Thanks a lot for this valuable info! Glad to stumble upon your channel. I’m 30 and I thought I couldn’t survive this era cos of the inflation and the economy, but this really changed my mindset im gonna apply this so I can get out of debt and slavery to money so i can live a fulfilled and more meaningful life. ❤
It's price gouging by these gigantically wealthy corporations that's being called inflation. Obscene record profits.... With little tax liability to the country
I have 3 TVs and never watch them. I have never really enjoyed watching TV. I love to read and occasionally watch movies. The ones I have are for family when they visit but luckily I didn’t pay much for them. They are 4K TVs I got at the pawn sho. I would never pay full price or buy a TV from these major retail stores
Aussie in Ontario here. Austin's channel is one of the best imho. Reminds me of grandma's methods of saving. The cost of living in Canada is insane...I'd say slightly higher than Australia (although some things are pricier there)... which is contrary to most online advice. So much online advice is misguided.
Gracias, Augustin! I think you could add creativity to your list of frugal habits. When you spend a lot of time creating as you do with your UA-cam channel, you automatically spend much less time consuming. My motto for 2023 has been Create Not Consume. Most of my creative energy has gone into planning and cooking delicious, low cost menus. Since we're close to Christmas, I ordered some special beading supplies this morning to create gifts. ❤❤❤
The most important point you made, in my view, is to create your own definition of success. My definition is essentially the same as yours. More free time and less pressure. Thank you, great video.
We raised 4 children in a major metro area (not cheap) on about 4000.00 a month net income. We could have lived on a lot more, but chose to aggressively save all those years. We lived in a large home and didn't lack for anything. Now the two of us down sized and live off of 2700.00 a month, easily. The key is being frugal and having no debt. Even these days, it's not that hard! Thank you, Austin, for educating people!
@@spicybrown75 We moved from our house about 2 years ago. We lived there for 20 years. We were able to pay cash for our very small home we live in now with the equity from our house. If we weren't debt free, we wouldn't remotely be able to live on what we live on now. It pays to be frugal and to live within your means.
I've just used Google to translate $3200 USD into GBP, and I live off HALF of that a month!!!! $2021 USD!! So I must be super frugal!! I pay rent, but I don't have a car because I don't drive so that saves me a lot of money. I work full time in my own business as a barber. I rent a shop, and a flat, and once the shop bills are paid, I have half of what you have, but I don't feel hard done by, I feel very comfortable. Debt free! I have no idea what sort of person left that comment but they would clearly die if they lived my life!! You rock Agustin xx❤
It's relative. The person who has no financial control/ education could have a high salary and it would not be enough. Then you find conscious people who don't make much money and can have a good life. It's not only how much you make, it's how you use it
My husband brings home about $3,300/month. We live easily on that and save a lot. So, yes, it is possible, and it's expensive where I live now. When we move to western PA, our cost of living will drop because we will have more room to grow our own food...goat milk, eggs, fruits and vegetables, etc. My husband will be doing side jobs while helping me maintain the farm. We have a roof over our heads, a comfortable home, and plenty of clean clothes to wear. I feel privileged, because money really isnt an issue for us.
Also, I've worked for all my life and for everything I have. And yes, as an executive, I get paid well, and also plan to finish working next year, at age 45. But I've planned and saved and invested to be able to do that. I live a simple life though, I don't have much stuff. My car is 22 years old, my appliances are all from the 1970s, I live in a small house which I now own. But in Sydney, $3200 is not going to get you far. Rent alone will cost that per month, and for nothing huge or fancy. Add on electricity, gas, water, phone, internet, insurance, car, petrol etc. That' easily another $1000/month before you've even looked at being able to eat.
I live in NYC and could live on $3,200 a month. I’m just grateful for the extra I do make, and can save for the days when I have to. Love your videos, Austin! Thanks so much for keeping me motivated! 🤗
3200 USD per month is a very nice money. In my country if you have that income you are in the top 10% of earners. Besides that the price of gas is 6 USD per gallon ...
Before I retired, I had a habit of "the more I make, the more I spend" and blew a $200K salary on a new house, car, vacations and stuff I really didn't need. Now I earn $6,000/mo. and I've turned my focus to "the more I make, the more I save". I paid off all my debt, sold everything and save 70% of my income, living on $2,000/mo. It's become a challenge to see how little I can spend, and I don't feel deprived. My only regret is I didn't save more when I had the chance. No looking back...I can only change my future, not my past.
Great lesson learned! We used to make $150k and had all our debt paid off, including our mortgage. We blew SO much money! FF 5 years, we moved and my husband took a big pay cut and now we have a fat mortgage. If we saved all the money we wasted for those 5 years, we would probably now have little or even no mortgage. Lesson learned!
Same, no kids and I make $8k a month, and my dream when I was in highschool was to make so much to where I can retire early and make videos like this to help others in need of guidance.
When I first moved out in the late 2010's, i was making $1,500/month while living in the PNW. I got by okay, until i started getting health issues. Then that completely wiped my savings. My insurance deductible was like $4-5k which was a quarter of my yearly earnings. ☹️ Now imagine if i had car problems, or a child, etc.
My take home is $3000 a month and my monthly cost of living minus my debt consolidation loan is $920 a month for rent, food, utilities, gasoline, and weekly entertainment. I am putting the rest every month towards the loan to be debt free by Spring of 2025. My friends thought I made a lot less money because I live such a frugal minimalist lifestyle.
I know several people raising families on this and less. The thing is, no one needs subscription services like instacart, every film/tv show subscription, and those pre packaged food boxes. Nor does one need the latest iPhone, or new cars every five years. Those are wants. Americans reply too much on credit/installment payments and they over-mortgage. I have been there with debt and will be out soon.
I get about $1700 monthly in various benefits in Michigan due to my disability and chronic infections. I have no children, no car because I can't drive for safety reasons. My apartment currently costs $750 a month and my utilities are roughly $50 but paid for by a state allowance up to $50 a month. I save $150 a month and I feel like I live like royalty
This is a great video. I live on about $2300 per month after taxes, 401k, health insurance, etc. I get by, I went without a car payment for nearly 5 years and recently purchased a new car this year due to job expectations that turned out to change right after I got my new vehicle. Financially speaking, I likely should have sold my new car after finding out about my job, but it gets twice the fuel economy as my old car and it takes regular gas instead of premium as well as having 4 doors and plenty of room for hauling things if I ever need to. My goal at this point is to pay off all of my other debt, and then start to save up while making my car payments. If I have some extra money after putting away enough in savings, I will then start to pay off my car faster.
I agree with all of these things, but especially with being adaptable. This is even more important as one gets older: things don't always (ever?) turn out as you'd expected or hoped and this isn't always a bad thing -- sometimes it's better! But you must be willing to shift your perspective, to let go of past expectations, learn to "go with the flow" and not "push the river" as they say. I'm much more laid back today that I was as a young person and, thankfully, am much, much less invested in the opinions of others about my life choices. Great job as usual, Austin!
Hey Austin, thanks for a great video. Muchos Gracias indeed para tu trabajo! ( sorry beginner Spanish ). Really glad I have found your channel. Really enjoyed the videos I have watched. Especially this one. I think that what many people are missing about the frugal life and especially on how to start it is the habits. You can’t suddenly stop a familiar behaviour ( shopping for unnecessary stuff on Temu ). It has to be built up over time. I strongly suspect that before you became a frugal person most likely you already had some strong habits and ability to control yourself through either sports or education. It would be great if you could go into more details on how and where to actually start building useful habits what will then help establishing good financial habits.. I assume in 99 present of cases if you drop the knowledge of this video on an average person who hasn’t got any good habits whatsoever this will not work.. Thank you for the great content!
I’ve got a huge storage unit of things. I’d love to sell them but I feel like it would take forever lol. Any ideas to get these items sold quickly? Do I do a yard sale? It’s freezing cold where I’m at. But I have a lot of high quality items.
Nice video. I had to resist on that red lamborghini lol. The cost and maintenance might be high but the smiles per gallon would be sky high. Regardless, I'll stick with my 2009 car that's paid off with low insurance and has 75k miles.
People bash me for not having a TV, not drinking alcohol and for going to bed at 9pm. If you don't have haters, you're not doing anything right in life.
😅😅 true
😂 I so agree with you! I retired at 58 and created a life that I don't want to escape from. But so many folks are like: why don't you want to travel to the next big city and go shopping/ go on holiday/ buy a better car! Because I am content- I don't need to escape!
2 true
Haters will hate lol but they're usually broke we aren't 😅
I have a tv but no cable, use it for streaming... Apparently my phone screen isn't big enough 😂
I live a frugal life and consider myself wealthy. I have my health, great family and friends. I live in the country with beautiful wildlife. My husband and I share one vehicle, one cell phone. I cook wonderful homemade meals. Take walks with my dog everyday. Gardening and thrifting are a blast! You don't need expensive things! Have fun! Enjoy a cup of coffee, a few laughs and appreciate small stuff! ❤
Totally agree 👍👋👋💖💖💖🌸🌸🌸
We live Ina double wide mobile home in a small town of 500 people. Before I retired I paid off all bills. Our taxes on the house are less than $300 per year. We now live on social security around $2000 per month. Get out of the big city. I hike 4days per week. Mountains are 15 minutes away. Living the dream. 😊
Woohoo love reading this :) God bless and angels be with you Always all ways :)
I live on $2200 a month. I don't drink or smoke. My car is a used car that I bought almost 3 years ago for $600. My rent is $635 a month for a nice 1 bedroom apartment. I have only basic expenses, food, gas, electric, phone and insurance. I save as much as I can each month. I'm doing fine on my low income. Keep helping people Austin.
I live alone in a 3 bedroom house with a big backyard. I only use one bedroom and the kitchen (I eat standing up, rarely sit to eat at the dining table). It is too much house for me but the mortgage is almost the same as renting a decent apartment. I could rent a room (not out of need but just to have company) but company will be at the expense of my privacy and that is too expensive.
Airbnb is an option
While I agree you should look into options only renting to college kids or airport employees, people who sort of "rotate"
I have a huge house after my divorce. I have kids renting the garage and its upstairs apartment and a nephew in the inlaw suite. They cover some of my bills but also have been so amazingly helpful with repairs, driving, eating leftovers :) get a college kid
I rent rooms in my four bedroom house. I have a process of vetting roommates and it’s worked well so far.
Why eat standing up? That sounds disagreeable and doesn’t on its face seem to confer any benefit. Perhaps I’m missing something?
We are a family of 3 on $2600 a month. With a budget its very easy to live on that little. It can get tight around Christmas but bills are paid roof is over our head and food in the bellies. What else could you possibly need. I find the more stuff we have the less we spend time with our family. I would rather have the tight family bond over the stuff.
Amen brother! I’ve never had a car payment and most of the cars I’ve purchased cost less than $5,000. In fact each of the cars I drive today cost me less than $2,500. They are very reliable and people are surprised when I tell them they are nearly twenty years old. “They look brand new” is the comment I usually get. My secret is that, amortized over time (there will be expensive repair years and inexpensive repair years), maintaining the cars I own has been cheaper than making new car payments. Each vehicle has around 150,000 miles on the odometer and I would not hesitate to drive either car anywhere. Love your videos. I’ve been with you since your subscribership was very small. Glad you are doing so well.
I think that when you reduce your spending, you start craving less and loving what you have more or when you buy something it actually has a purpose in your life and makes you more grateful. That gratitude radiates into a passion for living and you actually become a more interesting, attractive, humble, grounded and relatable person. Your energy changes and people just gravitate towards you. You start appreciating life and living in the moment much more. You also have to either go visit or understand how people live in other countries. We are so blessed in the US to have fresh food, Amazon, AC/heating, water, showers…the list goes on. My dad is from a small village in India and used to take baths with a bucket.
This year we've begun our frugal journey. We've started eating at home more and the rewards are great! No more getting ready, getting in traffic, waiting for a table, and no more $100 meals. I actually prefer staying home and cooking my own food. Also, I've given up my online shopping "problem ". I wear what I have (which is more than enough). I scrutinize every purchase and am decluttering stuff we no longer need. It's been very liberating.
good job!
Feels good doesn’t it! Congrats 🎉
Bravo!
I love these young wise people. I wish i had you tube when i was your age.
This guy is really great in breaking the cycle of keeping up with the latest jones
Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment
Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.
The adviser I'm in touch with is 'Stacie Lynn Winson, she works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else. for me his strategy works hence my result. he provides entry and exit point for the securities I focus on.
I just Googled his name and his website came up right away. It looks interesting so far. I'm going to book a call with him and let you know how it goes.Thanks
Money can’t be your only measurement of success. I have had successful career, made $ in stock market, own my home and vehicles, a 45 year marriage, raised and educated 4 children that are doing well. By most standards that is success. But then my spouse passes away unexpectedly. And the only thing I consider a success is my children n grandchildren. Nothing else really matters .My advice? Nurture your relationships with family, and work on your spiritual relationship with God. Those are the things that matter.
Creating you own definition of success if such an important one. You have to be contented and trust you own path. Never compare yourself to other people.
I believe it is time to redefine success in society...
Society needs a major paradigm shift. People need to start thinking as a species, not individuality
A year and a half ago, my salary went from $45,000 a year to over $100,000; just from switching jobs. I still live in the same house because the mortgage is super comfortable and drive the same car because it's paid off. For the first time in my life, I'm not living from paycheck to paycheck, and I am extremely aware of how lucky I am. Now I have an emergency fund, retirement accounts (two of them) and go on better vacations. MUCH better vacations than peers who have bought bigger homes, wear designer clothes, and drive luxury cars, who say that they can't afford to travel like that. Think of how much that $1,000 a month car payment would affect your life if you could save it, Toto.
Where on earth do you live where you could buy a house with only $45k income?
Gratitude can get you far in life!
One of my goals was to have my vehicle for twice as long as my car payment - so five years of car payment - five years no car payment - that car actually lasted 14 years and made all the difference in reaching my saving goals.
My Toyota is 18 years old. Still going strong. I think about getting a good used one cash, but for what?! Nothing wrong with the one I have. Waste of money to do that in my situation. So I save about $2,400 a month after living expenses. Money doesn’t really excite me. Just doesn’t. I’m a very quiet living person and enjoy my solitude and projects that I do. 😊
I was going to call someone to fix my ice maker. I didn’t want to be taken for a $$$ ride so I looked up what the problem could be and how to fix it. The site gave a most likely cause of the problem and a difficulty level rating to make that fix. $94 and a half hour of my time is all it took to have the ice dispenser working again.
For the last 15 years I have done as much shopping as possible at thrift stores, 2nd hand shops, rummage, estate sales, etc.
I have found quality items at deep discounts. Shop the bargain basement groceries when I can.
My number one frugal living habit that made my life easy was learning how to really cook. I've gotten to the point where restaurant food is sub-par to my own cooking (my family agrees which is awesome). We only go out for things that I can't easily cook like sushi for example and that's on a rare outing. Contrary to the whole plan your meal plan for the week to save money approach, when you truly know how to cook the absolute BEST way to save is to buy what's on clear-out, on sale and deeply discounted and figure out what you are cooking based on what you got inexpensively. I always hit up the veggie/fruit cart where they are deeply discounting as many of the items can be cooked that day without issue and cost pennies to the dollar. Here in Canada that makes a huge difference in costs as the price of groceries have shot up a lot.
0:59 The cost of living varies Greatly region to region. Myself, I live very comfortably on $1,600 a month but expenses in my area aren't as bad as living in downtown London, Toronto, Manhattan or Miami. I'd say that the person who find $3,200 a month exceptionally low may either be trapped in an area of high COL or they might be wasteful with their money; They need to make that determination themselves. Then decide what they can do.
My sister in law is in a tiny ranch in London suburbs. Canadian real estate is insane.
Studies show that gratitude actually boosts serotonin and dopamine production. Basically, grateful people live on a natural high. Sounds good to me.
You’re so right. Keeping up with the Jones and their lifestyles is not the way to go. I downsized my home and couldn’t be happier. I’m frugal at heart.
Societal pressures to consumerism is truly SAD. The 2nd best choice I ever made was to minimize!
Consumerism is one hell of a drug
If anything, the fact that you live off of $3,200 and you’re thriving is even more of a testament to your financial wisdom. 🧡 🐪
I own my own house outright because i saved to pay for it.
I own my car outright, always have & always bought used cars under $5k.
I have no loans & never have.
I do all my diy & repairs through researching & being self taught.
I live on the equivalent of $450 per month & only spend on what i need to improve my life.
I couldn’t be happier.
The simple things in life bring me happiness, living in the moment, not materials.
You are single, right?
@@Fillemexicaine36
You guessed right on $450 pm
That’s a great testimony! I wish more people were content with the simple things in life.
@@tacos_are_life
Thank you.
Yes the simple & almost always 'free' things in life put a smile on my face. Nature in all it's forms, a chat exchange with others, laughter at life happenings, being at one with animals, being in the moment as much as possible etc.
All the very best to you.
Being content & not wanting things is really gonna be the main ingredient in this hotpot for saving money.
Excellent video. The key point living debt free. I own an older, paid off minivan and use it for odd jobs and scrap metal recycling. It is very enjoyable " earning " free gas money and free lunches. And NO boss. Thank you Austin for your sage advice.
Love your videos and advice Austin! I too am on the path to living frugally, and am enjoying the lesser stresses of having no car payments! I was considering getting a new car, but now I have decided to continue with my current car, for another few years 😊
That is very true about being adaptable. I have friends that are not making it. They actually think that people are supposed to eat out once a week that’s supposed to be a luxury a celebration not something you do weekly turn off the TV sell the TV and spend your time taking care of your health is way more important.
Interesting video. There’s many ways to cut back and live simple. For me, not getting sucked into regular eating out, far away vacations to post about, not driving that luxury car really keeps you out of trouble. Not owning your own house is becoming more sensible due to the situation, no need to put pressure on yourself to have what everyone around you thinks you should strive for.
I went from owing a house to an apartment, very happily. Some of it has to do with the time of your life. I owned my house in one state and moved to another state…I was ready to not have all the responsibilities of ownership. I was very happy with that situation for 10 years…until I decided to move again. Now I own a house again and I’m very happy with my choice. It’s all about stages of life.
I feel very grateful for having found this channel. Thank you.
I'm living on a little over a thousand a month. I have no house or car payment. I'm in my 60 and in my entire life have only bought two cars where I had to make car payments. the rest were all saved up for and paid in cash. I live frugally and with intention and know where every cent of my money goes. Expense tracking and budgeting are the keys to living a a Frugal and happy fulfilling life.
We live on 2000$ a month for two people, we have no house payment and car is almost paid off and we plant a garden and can our food, we usely have a deer we process every year and I dehydrate some of our food, I keep inventory of what we have so I don't over spend at the store
In the UK owning your own car,even if it was a scruffy old banger has always been the norm. Leasing a car was never a thing,or rare. You might hire a car in particular circumstances only. Lately I've seen a couple of ads promoting the leasing idea,the selling point is that you can impress your neighbours by having a much nicer car to drive around than you can actually afford to buy.
Yes this is it
I live on 2500 a month and some live on less it just depends on how good you are with your finances. People that earn more usually spend more because they take their income for granted.
Austin, can you please make a video showing us how you shop at the grocery store and how you do your meals for the week/month/however you do it. I remember you made a "spend the day with me" video quite a while back, but I would really like to see a more in-depth grocery shopping/meal planning video for your lifestyle. Thanks! ❤
I always look forward to your videos! Almost 4 years ago, I turned my Toyota SUV into a Delux micro home and moved in full time! I quickly became debt free and my total monthly bills are less than $500! I now have the income to take care of all my needs and have plenty left over to live an amazing life!
I own minimally but Live Life with Passion! I frequently travel and spend as much time with friends and family as I wish. I've chosen Experiences over Posessions and have found a Happiness and Contentment I never knew existed!
And I'm so VERY Grateful!!!
Now that's intentional living!
@@zoraidita2022 This Lifestyle has allowed me to discover what Happiness and Freedom really mean. I wish that more people would discover it for themselves. Just imagine what you could do without the expenses of maintaining a traditional home or apartment. To quickly become debt free and to invest for a secure future and have complete control of every aspect of your life...
It's just like Heaven
The real frugal living mindset it's about prioritize needs above wants.
Yes
@@dia37355 same for me
I think if you get everything you need first your wants just come along naturally
I lived on the streets and after years of hard work now I have a house and a rental property. I still choose live in 750 square feet with my wife and it’s all we need!
These are incredible habits you have. I need to adopt these immediately 😉💕🎶
I see 👀 your point it's hard to go back to my old standard living
Gratitude journaling,top 5, upon waking has been a life changer for me! Thanks for mentioning that. 👏👏👏
Thank you Austin, I am thankful for you and the beautiful video you create.😁
You’re a wise man. Thanks for sharing your journey and all the practical steps with us
Excellent podcast!
How I wish kids learned this long before getting their first job, first car or first rental/house.
Thanks for educating us!!
Thanks a lot for this valuable info! Glad to stumble upon your channel. I’m 30 and I thought I couldn’t survive this era cos of the inflation and the economy, but this really changed my mindset im gonna apply this so I can get out of debt and slavery to money so i can live a fulfilled and more meaningful life. ❤
It's price gouging by these gigantically wealthy corporations that's being called inflation. Obscene record profits.... With little tax liability to the country
I have 3 TVs and never watch them. I have never really enjoyed watching TV. I love to read and occasionally watch movies. The ones I have are for family when they visit but luckily I didn’t pay much for them. They are 4K TVs I got at the pawn sho. I would never pay full price or buy a TV from these major retail stores
I work very hard for everything I have. Very grateful to be able to
There is a considerable amount of Wisdom to be found here on this channel. Thank You Austin for sharing. Greetings from Ontario, Canada.
Aussie in Ontario here. Austin's channel is one of the best imho. Reminds me of grandma's methods of saving. The cost of living in Canada is insane...I'd say slightly higher than Australia (although some things are pricier there)... which is contrary to most online advice. So much online advice is misguided.
Gracias, Augustin! I think you could add creativity to your list of frugal habits. When you spend a lot of time creating as you do with your UA-cam channel, you automatically spend much less time consuming. My motto for 2023 has been Create Not Consume. Most of my creative energy has gone into planning and cooking delicious, low cost menus. Since we're close to Christmas, I ordered some special beading supplies this morning to create gifts. ❤❤❤
Love this!! He needs to pin this comment
Brilliant video, full of real wisdom. Thank you!
Bro... Chico, I am a big fan.... Please keep making videos!
I learned today that I don’t know what success is. Ready to take that journey and make some difficult changes.
The most important point you made, in my view, is to create your own definition of success. My definition is essentially the same as yours. More free time and less pressure. Thank you, great video.
Same. More free time, less pressure and financial security.
We raised 4 children in a major metro area (not cheap) on about 4000.00 a month net income. We could have lived on a lot more, but chose to aggressively save all those years. We lived in a large home and didn't lack for anything. Now the two of us down sized and live off of 2700.00 a month, easily. The key is being frugal and having no debt. Even these days, it's not that hard! Thank you, Austin, for educating people!
Umm how long ago was that for you? My rent alone is $2500.
@@spicybrown75 We moved from our house about 2 years ago. We lived there for 20 years. We were able to pay cash for our very small home we live in now with the equity from our house. If we weren't debt free, we wouldn't remotely be able to live on what we live on now. It pays to be frugal and to live within your means.
I've just used Google to translate $3200 USD into GBP, and I live off HALF of that a month!!!! $2021 USD!! So I must be super frugal!! I pay rent, but I don't have a car because I don't drive so that saves me a lot of money. I work full time in my own business as a barber. I rent a shop, and a flat, and once the shop bills are paid, I have half of what you have, but I don't feel hard done by, I feel very comfortable. Debt free! I have no idea what sort of person left that comment but they would clearly die if they lived my life!! You rock Agustin xx❤
It's relative. The person who has no financial control/ education could have a high salary and it would not be enough. Then you find conscious people who don't make much money and can have a good life. It's not only how much you make, it's how you use it
My husband brings home about $3,300/month. We live easily on that and save a lot. So, yes, it is possible, and it's expensive where I live now. When we move to western PA, our cost of living will drop because we will have more room to grow our own food...goat milk, eggs, fruits and vegetables, etc. My husband will be doing side jobs while helping me maintain the farm. We have a roof over our heads, a comfortable home, and plenty of clean clothes to wear. I feel privileged, because money really isnt an issue for us.
I’ve learnt more from you, then anyone else in my whole life & I’m 44 😅 ❤
haha, thanks!! I'm learning a lot too. They say the best way to learn is by teaching!
Agree with everything
Love your videos. You're very practical.
Also, I've worked for all my life and for everything I have. And yes, as an executive, I get paid well, and also plan to finish working next year, at age 45. But I've planned and saved and invested to be able to do that. I live a simple life though, I don't have much stuff. My car is 22 years old, my appliances are all from the 1970s, I live in a small house which I now own. But in Sydney, $3200 is not going to get you far. Rent alone will cost that per month, and for nothing huge or fancy. Add on electricity, gas, water, phone, internet, insurance, car, petrol etc. That' easily another $1000/month before you've even looked at being able to eat.
I like your message. Keeping up good work!
So true. Everyone has their own value system.
I live in NYC and could live on $3,200 a month. I’m just grateful for the extra I do make, and can save for the days when I have to. Love your videos, Austin! Thanks so much for keeping me motivated! 🤗
Youre doing good Saint Augustine. GOod JOb
Thank you. Awesome video.
Starting from scratch isn't easy.
Love your videos El Augustin.
3200 USD per month is a very nice money. In my country if you have that income you are in the top 10% of earners. Besides that the price of gas is 6 USD per gallon ...
Love your content. Very proud of your achievements xx❤
Before I retired, I had a habit of "the more I make, the more I spend" and blew a $200K salary on a new house, car, vacations and stuff I really didn't need. Now I earn $6,000/mo. and I've turned my focus to "the more I make, the more I save". I paid off all my debt, sold everything and save 70% of my income, living on $2,000/mo. It's become a challenge to see how little I can spend, and I don't feel deprived. My only regret is I didn't save more when I had the chance. No looking back...I can only change my future, not my past.
Lesson learned and well done now
Excellent!
🎉 Amazing!!!
Great lesson learned! We used to make $150k and had all our debt paid off, including our mortgage. We blew SO much money! FF 5 years, we moved and my husband took a big pay cut and now we have a fat mortgage. If we saved all the money we wasted for those 5 years, we would probably now have little or even no mortgage. Lesson learned!
Same, no kids and I make $8k a month, and my dream when I was in highschool was to make so much to where I can retire early and make videos like this to help others in need of guidance.
lol as a native Spanish speaker didn’t see that ending coming, love it though!
Thank you austin
When I first moved out in the late 2010's, i was making $1,500/month while living in the PNW. I got by okay, until i started getting health issues. Then that completely wiped my savings. My insurance deductible was like $4-5k which was a quarter of my yearly earnings. ☹️ Now imagine if i had car problems, or a child, etc.
Great ideas and thought processes!! Thank you Austin.
I live on this amount. No complaints here.
Watching it immediately! Thanks Austin!
Great video great content as always. I Agree with living a life of intention
fantastic video! really insightful, thank you for sharing :)
My take home is $3000 a month and my monthly cost of living minus my debt consolidation loan is $920 a month for rent, food, utilities, gasoline, and weekly entertainment. I am putting the rest every month towards the loan to be debt free by Spring of 2025. My friends thought I made a lot less money because I live such a frugal minimalist lifestyle.
loved this video!
I know several people raising families on this and less. The thing is, no one needs subscription services like instacart, every film/tv show subscription, and those pre packaged food boxes. Nor does one need the latest iPhone, or new cars every five years. Those are wants. Americans reply too much on credit/installment payments and they over-mortgage. I have been there with debt and will be out soon.
Im a truckdriver in Sweden, i make 2500$ after tax a month. My wife have 500$ in pension. And we live good. No loan, a 25 year old Audi.
Liar. Audi don’t last 25 years 😂
I'm thinking that they hardly drive.... He's out on the road while wifey stays at home with a small pension.
It would be nice a video on how to practice gratitude 😊
success-peace of mind and serving God
I live off of $1400 a month in Indiana. Peace of mind is so much more valuable than possessions.
I wish! That is amazing
I get about $1700 monthly in various benefits in Michigan due to my disability and chronic infections. I have no children, no car because I can't drive for safety reasons. My apartment currently costs $750 a month and my utilities are roughly $50 but paid for by a state allowance up to $50 a month. I save $150 a month and I feel like I live like royalty
Right on Austin.. once again a belter of a video! 👏 I’ve been caught out by rip off mechanics one to many times!
I honestly love your videos !!!!!
Excellent advice! Thank you!
This is a great video. I live on about $2300 per month after taxes, 401k, health insurance, etc. I get by, I went without a car payment for nearly 5 years and recently purchased a new car this year due to job expectations that turned out to change right after I got my new vehicle. Financially speaking, I likely should have sold my new car after finding out about my job, but it gets twice the fuel economy as my old car and it takes regular gas instead of premium as well as having 4 doors and plenty of room for hauling things if I ever need to. My goal at this point is to pay off all of my other debt, and then start to save up while making my car payments. If I have some extra money after putting away enough in savings, I will then start to pay off my car faster.
I agree with all of these things, but especially with being adaptable. This is even more important as one gets older: things don't always (ever?) turn out as you'd expected or hoped and this isn't always a bad thing -- sometimes it's better! But you must be willing to shift your perspective, to let go of past expectations, learn to "go with the flow" and not "push the river" as they say. I'm much more laid back today that I was as a young person and, thankfully, am much, much less invested in the opinions of others about my life choices. Great job as usual, Austin!
Amen!!
Solid information!
Like that one with teach yourself some useful things.
You gave good advice.
Hey Austin, thanks for a great video. Muchos Gracias indeed para tu trabajo! ( sorry beginner Spanish ). Really glad I have found your channel. Really enjoyed the videos I have watched.
Especially this one. I think that what many people are missing about the frugal life and especially on how to start it is the habits. You can’t suddenly stop a familiar behaviour ( shopping for unnecessary stuff on Temu ). It has to be built up over time. I strongly suspect that before you became a frugal person most likely you already had some strong habits and ability to control yourself through either sports or education.
It would be great if you could go into more details on how and where to actually start building useful habits what will then help establishing good financial habits.. I assume in 99 present of cases if you drop the knowledge of this video on an average person who hasn’t got any good habits whatsoever this will not work.. Thank you for the great content!
I’ve got a huge storage unit of things. I’d love to sell them but I feel like it would take forever lol. Any ideas to get these items sold quickly? Do I do a yard sale? It’s freezing cold where I’m at. But I have a lot of high quality items.
You’re absolutely right 👍✅💡
Thank you Austin🧠
Nice video. I had to resist on that red lamborghini lol. The cost and maintenance might be high but the smiles per gallon would be sky high. Regardless, I'll stick with my 2009 car that's paid off with low insurance and has 75k miles.