I added an extra savings account and save $25.00 a week in it, never miss it and it has grown so much with so little effort! That $25 would have been mindlessly spent otherwise.
Since watching your videos I have freed up about $1400 a month. 1) Sold my truck back to the dealership and saved $838 a month in a payment. 2) Lowered my insurance by $75 a month. 3) Purchased with cash a 2006 Scion XA that gets 35 to 40 miles per gallon. Saving about $400 a month in gas. 4) Quit all apps. No Amazon Music, no Paramount Plus or Peacock. Freed up about $25 a month. Have free Hulu. 5) Lowered the mbps on my internet like your video talked about and saved $40 per month and the internet speed and service is honestly the same it's been with the bigger plan. 6) Started switching over my cell service from T Mobile to Mint and will save another $55 per month. Thanks again. Trust what you are saying to us we are listening. I am now proof of that.
Wow!!! Thanks for taking the time to write this. On my end, I am just making videos so I am glad the videos are impactful! Congratulations! That's a pretty big deal!
Stop smoking, stop drinking, stop taking girls out. Go jogging, eat healthy, wake up early and work peacefully. I was in a limbo going nowhere but after I did that my life took off after just a few years of it. I am well off nowadays, have a nice family and we all travel a lot together having great fun.
In 1998, I inherited one million dollars. Twenty years later, I was penniless, and today I live on a very modest social security income. While I had many enriching experiences during those 20 years (my weakness is travel), I also was very careless and wasteful. I wish I'd had your videos as a guide back then to help me find a balance.
If you like to travel how do you think you will end up with money if you had his videos? Even the money I have now I won't have forever and I have to be gainfully and consistently employed to be able to afford to do just about everything!!!!
@@donaldlyons17 By learning to live more frugally, and by thinking more about the future. For example, in hindsight I should have spent less on immediate gratifications and more on buying a home and property that I could enjoy now that I'm older.
@@sangroncito7551 If you did not know or think about it in the past why think that now? It might have turned out very similar even trying to be more frugal!!!
I realize this comment is old, but I’m a financial planner and sometimes find myself in front of people who are spending their inheritance foolishly. What do you think someone could have said to you in 1998 that could have prevented this?
Wow must be nice 🤦🏼 goes to show that it’s best to go from broke to rich one dollar at a time than getting the silver spoon gave to you it creates ignorance having money is a mindset first hands down 💯
My parents both worked minimum wage Jobs, while raising three children. Managed to pay off two properties. My mother always says the easiest way to stay broke is to finance a vehicle every couple years.
@@XCVi_MAC I don’t think so and this is the reason why. I have known two people who had incomes issues. Neither was employees but both wanted to buy stuff or get access to stuff that normally requires cash!!!! So if it is common sense why did they not have jobs to fund their purchases?
My only savings goal at this point in my life is to retire. Suzi Orr said, "If you take care of your money, your money will take care of you." I think this is basically what you are saying too. So far, it has proven to be true.
I just found your channel recently and I have to say, you have taught me so much already! I love how relatable you are, love your way of explaining your points and I have already saved 3x as much since watching you! The single best thing you have taught me is "1000 1dollar decisons, not 1 1000 dollar decision." And also thank you for the idea of "want and need"- simplifies purchases so much!
You don’t have to go to malls to be bombarded by highly effective aspirational marketing. They hire experts incl psychologists for marketing and now AI algos. Infomercials now in most videos to get around YT premium users. Frustrating.
This is how I budget my income as 25yo 50% Need / 20% Invest / 20% lifestyle and 10% Give If I don’t use all my 50% for need I will add the left over to Invest Remember we trade TIME for everything in life even money so use your time wisely Good luck y’all
Before buying anything I always estimate how much I am willing to pay for it, if it is more than I have thought I simply don't buy it, no regrets. I want to tell you that the quality of the content of your videos is top notch and I am so grateful!!!
I was paying only $900 for rent, but my place was sold and now I'm paying $1400 a month. I looked for a better deal but couldn't find one. Hopefully one day, if I keep thinking positively, I will.
Where I live we have share sheds and they are located where the dump sites and recycling are. Well I save money by picking up free stuff that I can use at the share shed. I also return items I no longer need. It’s also fun. I get to talk with other like minded people.
I would love to see how to get to money compounding. At that point every frugal video ends. Austin, please show us how to actually do it. Younger generation maybe knows how, but older crowd needs more than just saying “get mutual funds”.
Hi Austin, thanks for good content. Can you elaborate a bit how much you have saved and how much gains you have gotten from investments. What types of investments you have. I have some funds, stocks and crowdlending investments. Greetings from Northern Europe.
With the money you saved and put in the bank, how much taxes you have to pay each year? Is it worth it putting in the bank? Great video. Thanks for sharing
Quit my job recently. Needed a few display adaptors for my mac and was recommended a setup by a colleague. Corporate me would just buy now. Freelance me dug a little deeper and found I could get the same stupid adaptors (variations) at more than 60% less. Time poor corporate life: $268.00 + $9 delivery, getting fat in the office. Working for myself: $72.90 pickup and a walk in the sun to the shops. Coffee on the way home.
I need advice on how to save on homeowners insurance. It is my biggest expense. I live where hurricanes occur. (About 10 miles from the beach) I paid my mortgage off before I retired. Lived in my home 30 years. Sometimes I wonder if I should just not have insurance any more.
I really like your perspective of having a balance in your approach to living intentionally. I believe that this type of mindset is sustainable in the long term, as opposed to having an extremist one. Also, I found fascinating the idea of being easier to save $1 than to make $1 , and having more control over your expenses. This goes against the lessons that I was taught growing up about always trying to make more money. Finally, respecting $100 first , and starting off small in order to be able to then respect $100,000 really landed for me. Thanks again! You are really making an impact and shaking up , “conventional wisdom “🤗
No you have an income that produced at least half of the 100K. Saving does not nor never will create new money it can only slow to loss of money over time!!!!
Good simple common sense advice. I'm already doing most of these things. I found the incredible deal for lost cost rent in a high rent area also for just $900 a month and it's actually a nice place! My employer sets my pay based on what my average rent is expected to be in a high rent area. They also factor in having and maintaining a car which costs a lot of money in a large city like the one where I live. If I had a typical place and a car where I live I would be living paycheck to paycheck (be broke). The key to creating savings is to live below your means then retain more money than you spend. It's just common sense. I slashed my rent obligation then ditched the car. The location where I live has excellent public transportation. Instead of having a car I go everywhere I need to for $90 a month. That means my rent (including utilities) and transportation total (barley) under $1000 per month. My employer also provides meals when I work there, further cutting my food expenses (by about a third). I also buy store brands whenever possible so I can still have what I want instead of doing without it. They're usually just as good (just don't shop hungry or you'll still buy more stuff than what you really need). With a set up like this it's easy to make a saving plan. It practically happens by itself. After you pay your bills you end up with funds left over each month. The key is to stay on budget is to set a goal. I set aside $1000 a month (The do not touch money). Then built an emergency fund so I never need to touch the "do not touch" money. My fund should already carry me for an entire year. I set up a 401K through my employer. That's low risk free extra money added to my own money for retirement only (after 59 1/2). If your employer contributes to one you should consider contributing to one (unless you want to work until you die). The remainder should just be invested into some solid companies everyone knows will still be here years down the road that will always be in demand. Coca Cola, Home Depot, stuff like that. Then just set it and forget it. Stocks like those will go up and down over the years, but over all they go up. If your patient then wait it out you will end up with a lot more money later. They key to being motivated to continue saving is to have clear goals and a target date for achieving them. If your trying to impress other people in the present you will always keep buying more stuff (I used to do this) then I never saved anything. Keep it simple. My goals are to own my own home and retire. I realized two things. One day I will be too old to work. If I own where I live I'll never be out on the street. Then I should have enough money day to day to live a simple comfortable life. That's it! Simple. Also if I ever lose my job then need to take a lower paying one for any period of time I can still maintain my current lifestyle without stress. It's only my savings which are temporarily effected, not my ability to live day to day or pay my rent.
This video rings very true to me. I've gone from having basically $0 saved to having about $50k saved up in 3 years. I've finally splurged and spent some money the last couple of months, but I am slowing down and getting back into the frugal life again.
I really enjoyed this video. I’m doing a lot of the things you say to the best I can I have a teenage son so I can’t budget as well as I would like to but I try anyway you’ve just gained a new subscriber
This is the breath of fresh air! So many "finance gurus" want you to waste all your hours on deadend side hustles, make risky crypto investments or resort to extreme penny pinching a la the "FIRE" movement. I agree it can be so much more simple than that especially if you can be strategic about your living expenses and big purchases. And finding those rare deals is sooo valuable too! I experienced this many times furniture shopping or apartment hunting. So many people will see two or three items, properties or vacation packages or whatever and then throw their hands up and say "I guess this is what it costs!" I will watch the market like a hawk for 3-6 months and its amazing the deals I have found in my life!
I come from a very frugal family that has a lot of money. The one problem I have with this is when you start cutting your basic needs and then other parts of your life suffer to the point that you go to the other extreme. The best advice I got from a financial planner is being balanced. The more extreme you get your more then likely will go to the other extreme.
So how did you save 80' k in 2 years, did you work 20 hours a day 7 days a week, did you rotate three jobs or did you do 996? How much did you earn, how much did you invest?
@@Michelle_Emm That only makes sense and that is fine BUT his conditions were right so it could work. Many only make 40K each year and at least 10% make even less so they don't have the same options!!!
you said that investments increase our savings but i disagree. i don't trust any kind of investment. it's just too risky. i don't want 80k being turned into 85k. i prefer keeping my 80k rather that taking the risk to lose everything, because of a bad investment.
Austin you are God! This video is spot on about savings. Your savings instruction, goals, money protection is very clear. If you can’t manage $100 then $5000 will completely overwhelm you and you’ll need to SPEND it asap to get back into your comfort zone. Brilliant. This was very true when I was trading stocks. Losing or Gaining when I was risking $10K didn’t stress me out as it moved up and down. But risking $100K, or $500K changed my management style and stress level tremendously until I got used to the larger numbers of profit or loss. You have to mentally grow to manage these larger sums of money. That’s why Lottery winners frequently go bankrupt cause they aren’t equipped to deal with large sums of money and need to spend spend spend. I love your methodology, your google sheet, etc. We have to use your examples to learn to save and manage money! Thank you.
I’m saving and investing around 70 percent of my income in the financial market(high yield etfs, stocks etc) pretty much how I made my first million although with an FA. I have a high paying engineering job, and I live upstate NYC. my expenses are low. I have zero debt, low rent and car truck paid off. So i can just save. feel lucky at this point I'm actually grateful for my advisor handling my portfolio.
She really seems to know her stuff. I also found her online page and read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her
Thanks for another great content Austin 😊! I'm on my own journey to financial independence and its about doing the hard stuff now to live a good life later.
I utterly agree, especially speaking of freedom, I discovered that I am not compelled to keep a job that makes me sick, if I've have saved enough money to quit while looking for a better job 🙂🙃
I spent $15000 last year on CDs and vinyls that I can sell for $2400 ! I spent $12000 on shoes cloths and fashion that I don’t need because I don’t have time to use them . My best investment ability.
Thanks for the enlightenment, Austin. You have a really nice channel! I love you content: it's concise, relatable, and fun! Keep doing more of these, please. I am in a financial mess right now & would want to start rebuilding my wealth now! #FinancialMinimalistStarter Btw, I'm a new subscriber from the Philippines :)
Now I have more knowledge about personal finance, thanks to your channel, I just subscribed.Big ups to everyone working effortlessly trying to earn a living while building wealth in this recession. I’m 45 and my husband is 51, we are both retired, no debts. We are currently living a frugal and financially savvy lifestyle and generating passive income even during this recessionary period. Our commitment to saving and investing in the financial market has enabled us to maintain this lifestyle and continue earning monthly passively through investment.Traveling is now on our horizon, thanks to our financial choices.
Congratulations on your early retirement, Interesting indeed! Currently, I am in dire need of investment advice or tips. Earlier this year, I hesitated and failed to take any action until now. However, I am determined to try something new, as I am very receptive to various investment ideas. I want to be retired in my forties or fifties, I really wish I can achieve what you and your partner has achieved. I believe and it will surely happen.
In order to live life intentionally, I have found you have to practice minimalism. This to learn inner flaws and address them. At first, you must go into an extreme minimalism then loosen up.
What's one habit that helps you save money?
Calculating how many work hours it will take to pay for something. Perspective.
Knowing I want to retire in my 50’s and not have to work but work because I want to. And do things I love
I started making a budget and tracking every expense. It makes a huge difference!
I added an extra savings account and save $25.00 a week in it, never miss it and it has grown so much with so little effort! That $25 would have been mindlessly spent otherwise.
Stay away from convenient online shopping
Since watching your videos I have freed up about $1400 a month.
1) Sold my truck back to the dealership and saved $838 a month in a payment.
2) Lowered my insurance by $75 a month.
3) Purchased with cash a 2006 Scion XA that gets 35 to 40 miles per gallon. Saving about $400 a month in gas.
4) Quit all apps. No Amazon Music, no Paramount Plus or Peacock. Freed up about $25 a month. Have free Hulu.
5) Lowered the mbps on my internet like your video talked about and saved $40 per month and the internet speed and service is honestly the same it's been with the bigger plan.
6) Started switching over my cell service from T Mobile to Mint and will save another $55 per month.
Thanks again. Trust what you are saying to us we are listening. I am now proof of that.
That’s awesome 👏
Great job! Way to commit 😊
Wow! That’s amazing! Congrats!👏🏼
Wow!!! Thanks for taking the time to write this. On my end, I am just making videos so I am glad the videos are impactful! Congratulations! That's a pretty big deal!
This is amazing! Excellent job!
Stop smoking, stop drinking, stop taking girls out. Go jogging, eat healthy, wake up early and work peacefully. I was in a limbo going nowhere but after I did that my life took off after just a few years of it. I am well off nowadays, have a nice family and we all travel a lot together having great fun.
In 1998, I inherited one million dollars. Twenty years later, I was penniless, and today I live on a very modest social security income. While I had many enriching experiences during those 20 years (my weakness is travel), I also was very careless and wasteful. I wish I'd had your videos as a guide back then to help me find a balance.
If you like to travel how do you think you will end up with money if you had his videos? Even the money I have now I won't have forever and I have to be gainfully and consistently employed to be able to afford to do just about everything!!!!
@@donaldlyons17 By learning to live more frugally, and by thinking more about the future. For example, in hindsight I should have spent less on immediate gratifications and more on buying a home and property that I could enjoy now that I'm older.
@@sangroncito7551 If you did not know or think about it in the past why think that now? It might have turned out very similar even trying to be more frugal!!!
I realize this comment is old, but I’m a financial planner and sometimes find myself in front of people who are spending their inheritance foolishly. What do you think someone could have said to you in 1998 that could have prevented this?
Wow must be nice 🤦🏼 goes to show that it’s best to go from broke to rich one dollar at a time than getting the silver spoon gave to you it creates ignorance having money is a mindset first hands down 💯
My parents both worked minimum wage Jobs, while raising three children. Managed to pay off two properties. My mother always says the easiest way to stay broke is to finance a vehicle every couple years.
Not sure what your mom was thinking. The easiest way I know to stay broke is to not have any income at all!!!!!!!!!!!!!!!!!!!!!!!
@@donaldlyons17 that’s common sense, don’t you think?
@@XCVi_MAC I don’t think so and this is the reason why. I have known two people who had incomes issues. Neither was employees but both wanted to buy stuff or get access to stuff that normally requires cash!!!! So if it is common sense why did they not have jobs to fund their purchases?
@@donaldlyons17 it’s common sense for you and I. Others aren’t educated with moneys.
Your mom
Is right
I have to say this... your channel is the best I've found in many years of youtube
Greetings from Portugal.
Thanks!!!!
That means you'll have $400,000 in just 10 years... wow 🤩
My only savings goal at this point in my life is to retire. Suzi Orr said, "If you take care of your money, your money will take care of you." I think this is basically what you are saying too. So far, it has proven to be true.
I just found your channel recently and I have to say, you have taught me so much already! I love how relatable you are, love your way of explaining your points and I have already saved 3x as much since watching you! The single best thing you have taught me is "1000 1dollar decisons, not 1 1000 dollar decision." And also thank you for the idea of "want and need"- simplifies purchases so much!
Right on!!!!! I'm glad my videos are providing value to your life!!
Good point about respecting $100 first 💜
ignore the celebrities selling products and stay out of shopping malls
You don’t have to go to malls to be bombarded by highly effective aspirational marketing. They hire experts incl psychologists for marketing and now AI algos. Infomercials now in most videos to get around YT premium users. Frustrating.
This is how I budget my income as 25yo
50% Need / 20% Invest / 20% lifestyle and 10% Give
If I don’t use all my 50% for need I will add the left over to Invest
Remember we trade TIME for everything in life even money so use your time wisely
Good luck y’all
You mean don't use all for lifestyle. U cant cut on your needs... Or ur math is wrong
Please keep doing what you're doing and making these videos, they're fantastic and have literally changed my life.
Right on! I'm happy!
One of the best videos I've watched on finances
I appreciate it!
Before buying anything I always estimate how much I am willing to pay for it, if it is more than I have thought I simply don't buy it, no regrets.
I want to tell you that the quality of the content of your videos is top notch and I am so grateful!!!
Well said, “money only matters when you don’t have it”
You definitely have the best minimalist, money save videos, and I have seen a LOT 😅
Thanks!!!
Yup this guy is the real deal!
I always learn something from your videos about saving. Respect 🙏🏾
Thanks!
I was paying only $900 for rent, but my place was sold and now I'm paying $1400 a month. I looked for a better deal but couldn't find one. Hopefully one day, if I keep thinking positively, I will.
I discover you just a month ago and you have mind blowing videos for living frugally and better investing. Thank you for existing!
Thanks for watching, Vola!
Amazing mentality! It’s great to have in savings what other people have in debt
@@jurgenschemelzer8369 Debt is not the issue but income might be.
@@donaldlyons17 Debt is the biggest issue in America!
Thanks for the videoss really enjoy them
Where I live we have share sheds and they are located where the dump sites and recycling are. Well I save money by picking up free stuff that I can use at the share shed. I also return items I no longer need. It’s also fun. I get to talk with other like minded people.
This is a fantastic video, very simple but effective.
I'm addicted to saving money...and I love it!!!
Great video as always. So articulate about everything.
I appreciate it!
You think a lot like my dad did. That's how he taught me. You are right.
Could you please mention how much where you making per hour in order to accomplish that goal ?
This is very fascinating and I’m speechless
This advice is very useful especially in todays broken economy. Rent is crazy
You’ve got a subscriber! Even though I know these things I like to hear you and it motivates me to work harder on saving money. Great video, thanks
Great video! Thanks for sharing. My problem is I don’t know how to invest money. I invested stocks and mutual fund but the most time I lost the money.
I would love to see how to get to money compounding. At that point every frugal video ends. Austin, please show us how to actually do it. Younger generation maybe knows how, but older crowd needs more than just saying “get mutual funds”.
Long term investment, gotta leave your investment through the ups and downs.
Have watched this video some 7 times. Very good way to put it!!
I'm glad you enjoyed it!! Thanks!
good on you man, i really like your videos, keep the good work :)
The video is wonderful you caught my attention and that's hard! I really hope you have a book out there.
Thanks so much for this Austin. Thought provoking and inspirational x
Thanks!!
i love your videos austin........pls keep it coming
I will, don't you worry!
Hi Austin, thanks for good content. Can you elaborate a bit how much you have saved and how much gains you have gotten from investments. What types of investments you have. I have some funds, stocks and crowdlending investments. Greetings from Northern Europe.
With the money you saved and put in the bank, how much taxes you have to pay each year? Is it worth it putting in the bank? Great video. Thanks for sharing
Quit my job recently. Needed a few display adaptors for my mac and was recommended a setup by a colleague. Corporate me would just buy now. Freelance me dug a little deeper and found I could get the same stupid adaptors (variations) at more than 60% less.
Time poor corporate life: $268.00 + $9 delivery, getting fat in the office.
Working for myself: $72.90 pickup and a walk in the sun to the shops. Coffee on the way home.
I love listening to your vids..you are absolutely amazing..your advice is well worth doing..
Awesome advice as always… ❤
I need advice on how to save on homeowners insurance. It is my biggest expense. I live where hurricanes occur. (About 10 miles from the beach) I paid my mortgage off before I retired.
Lived in my home 30 years. Sometimes I wonder if I should just not have insurance any more.
Such practical, noteworthy advice. Strong work, Austin!!
Thank you for this great video and for talking about this topic.
Great video, I like the way you break it down so the average person with minimal education can understand and benefit.
I try to not confuse myself when I'm making them, haha!
You are my best financial advisor! Thank you 😊
haha, not a financial advisor. Just a guy on the internet!!
@@ElAgustin well I trust you, you have nothing to gain by sharing your experiences, and I appreciate that 🙏
Thank you for this I live in Colorado too
Excellent video. I watch your videos every morning with my cup of coffee. I think in this way but my husband doesn’t. 😐
i like your tips, they are practical. thanks
A habit that saves me money is to do my own baking. A homemade loaf of bread is a beautiful thing and so much cheaper! Loved this video!❤️❤️❤️
Great video Austin
I really like your perspective of having a balance in your approach to living intentionally. I believe that this type of mindset is sustainable in the long term, as opposed to having an extremist one. Also, I found fascinating the idea of being easier to save $1 than to make $1 , and having more control over your expenses. This goes against the lessons that I was taught growing up about always trying to make more money. Finally, respecting $100 first , and starting off small in order to be able to then respect $100,000 really landed for me. Thanks again! You are really making an impact and shaking up , “conventional wisdom “🤗
Thanks for watching, Miguel!
No you have an income that produced at least half of the 100K. Saving does not nor never will create new money it can only slow to loss of money over time!!!!
Thanks for the advice, it's a great help for me.
Good simple common sense advice. I'm already doing most of these things. I found the incredible deal for lost cost rent in a high rent area also for just $900 a month and it's actually a nice place! My employer sets my pay based on what my average rent is expected to be in a high rent area. They also factor in having and maintaining a car which costs a lot of money in a large city like the one where I live. If I had a typical place and a car where I live I would be living paycheck to paycheck (be broke). The key to creating savings is to live below your means then retain more money than you spend. It's just common sense. I slashed my rent obligation then ditched the car. The location where I live has excellent public transportation. Instead of having a car I go everywhere I need to for $90 a month. That means my rent (including utilities) and transportation total (barley) under $1000 per month. My employer also provides meals when I work there, further cutting my food expenses (by about a third). I also buy store brands whenever possible so I can still have what I want instead of doing without it. They're usually just as good (just don't shop hungry or you'll still buy more stuff than what you really need). With a set up like this it's easy to make a saving plan. It practically happens by itself. After you pay your bills you end up with funds left over each month. The key is to stay on budget is to set a goal.
I set aside $1000 a month (The do not touch money). Then built an emergency fund so I never need to touch the "do not touch" money. My fund should already carry me for an entire year. I set up a 401K through my employer. That's low risk free extra money added to my own money for retirement only (after 59 1/2). If your employer contributes to one you should consider contributing to one (unless you want to work until you die). The remainder should just be invested into some solid companies everyone knows will still be here years down the road that will always be in demand. Coca Cola, Home Depot, stuff like that. Then just set it and forget it. Stocks like those will go up and down over the years, but over all they go up. If your patient then wait it out you will end up with a lot more money later. They key to being motivated to continue saving is to have clear goals and a target date for achieving them.
If your trying to impress other people in the present you will always keep buying more stuff (I used to do this) then I never saved anything. Keep it simple. My goals are to own my own home and retire. I realized two things. One day I will be too old to work. If I own where I live I'll never be out on the street. Then I should have enough money day to day to live a simple comfortable life. That's it! Simple.
Also if I ever lose my job then need to take a lower paying one for any period of time I can still maintain my current lifestyle without stress. It's only my savings which are temporarily effected, not my ability to live day to day or pay my rent.
Index funds are less risky. S&P500 let’s you buy one fund and it includes 500 of the biggest stocks in the US. Buy it and forget it.
@@richardackley1823 Thank you for the suggestion. I think I will try that next.
The answer is to have a high income.
Demasiado bueno tu programs!! Gracias hermano!!
This video rings very true to me. I've gone from having basically $0 saved to having about $50k saved up in 3 years. I've finally splurged and spent some money the last couple of months, but I am slowing down and getting back into the frugal life again.
Nice!
I really enjoyed this video. I’m doing a lot of the things you say to the best I can I have a teenage son so I can’t budget as well as I would like to but I try anyway you’ve just gained a new subscriber
This is the breath of fresh air! So many "finance gurus" want you to waste all your hours on deadend side hustles, make risky crypto investments or resort to extreme penny pinching a la the "FIRE" movement. I agree it can be so much more simple than that especially if you can be strategic about your living expenses and big purchases. And finding those rare deals is sooo valuable too! I experienced this many times furniture shopping or apartment hunting. So many people will see two or three items, properties or vacation packages or whatever and then throw their hands up and say "I guess this is what it costs!" I will watch the market like a hawk for 3-6 months and its amazing the deals I have found in my life!
Where do you invest? I need advice.
Always a great and informative video coming from you! You are so wise beyond your years must have had a fantastic foundation growing up.
Another great video!! Thank you!!!
Many of us need to have "Focus and disciplin" to save money in this world of "Buy now and pay later" I should have known much earlier....
so around 3333 usd/month. was that from your salary alone or a spouse as well?
I come from a very frugal family that has a lot of money. The one problem I have with this is when you start cutting your basic needs and then other parts of your life suffer to the point that you go to the other extreme. The best advice I got from a financial planner is being balanced. The more extreme you get your more then likely will go to the other extreme.
The only thing I really like spending on is traveling 🥰 Other than that I love saving and my husband and I have zero debt
Same!
Same
Travelling while still healthy builds memories you’ll never regret. More valuable when much older then things.
Very informative and helpful thanks for sharing bro
Thanks for watching!
Keep them coming Austin!!! Thanks so much for your videos. They help put many things into perspective for me.
I will! Thanks for watching!
Love this Channel
So how did you save 80' k in 2 years, did you work 20 hours a day 7 days a week, did you rotate three jobs or did you do 996? How much did you earn, how much did you invest?
It’s slow, it’s boring but it works...love this x
It's true!
Yeahhh not sure I’m gonna find a $800 apt in tampa florida.
Unfortunately my hometown got very very pricey in the last 2 years. Sad
I'm pretty sure he moved to Colorado so he could find a cheaper lifestyle.
@@Michelle_Emm That only makes sense and that is fine BUT his conditions were right so it could work. Many only make 40K each year and at least 10% make even less so they don't have the same options!!!
@@donaldlyons17 his message is to do the best you can with your situation.
Oh my gosh this makes so much sense !!!
Brilliant very applicable for all ages thank you very much for sharing this information and reviewing it once again and reminding us. David chicago
Thanks!
you said that investments increase our savings but i disagree. i don't trust any kind of investment. it's just too risky. i don't want 80k being turned into 85k. i prefer keeping my 80k rather that taking the risk to lose everything, because of a bad investment.
Great video thanks
You ain’t lyin’! 🧡 🐪
Austin you are God! This video is spot on about savings. Your savings instruction, goals, money protection is very clear. If you can’t manage $100 then $5000 will completely overwhelm you and you’ll need to SPEND it asap to get back into your comfort zone. Brilliant. This was very true when I was trading stocks. Losing or Gaining when I was risking $10K didn’t stress me out as it moved up and down. But risking $100K, or $500K changed my management style and stress level tremendously until I got used to the larger numbers of profit or loss. You have to mentally grow to manage these larger sums of money. That’s why Lottery winners frequently go bankrupt cause they aren’t equipped to deal with large sums of money and need to spend spend spend. I love your methodology, your google sheet, etc. We have to use your examples to learn to save and manage money! Thank you.
how do you deal with inflation? that's my big fear about saving money.
I’m saving and investing around 70 percent of my income in the financial market(high yield etfs, stocks etc) pretty much how I made my first million although with an FA. I have a high paying engineering job, and I live upstate NYC. my expenses are low. I have zero debt, low rent and car truck paid off. So i can just save. feel lucky at this point I'm actually grateful for my advisor handling my portfolio.
Truly Stocks, ETFs and Mutual funds are the best investment decision you can make both short term and long term for steady money flow. Kudos
recently started in stocks and I don't mind investing a substantial sum, i'd like to know your advisor ?
certainly, she goes by Emily Lois Parker…she's quite known, search her up for her info
I was able to find her webpage and leave a mail after going through her credentials, i'm willing to make consultations to improve my portfolio
She really seems to know her stuff. I also found her online page and read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her
Thank you 😊 good advice .bless u and family 👪 ❤ with joy 😊 peace and happiness always 🙏 ❤ 💛 💖 😊
Thanks for another great content Austin 😊! I'm on my own journey to financial independence and its about doing the hard stuff now to live a good life later.
Best of luck on your journey!
Excellent advice.
I utterly agree, especially speaking of freedom, I discovered that I am not compelled to keep a job that makes me sick, if I've have saved enough money to quit while looking for a better job 🙂🙃
Yes! It's not about never working, but just not being forced to do work you don't enjoy.
Im in love with what he says
Thank God I found you ... Financial security is the best ... I achieved the same goal... All it takes is common senses...
Common sense likely does not put money in your pocket but a job might!!
did you have a goal of $80k when you started to save or it just accumulated?
I spent $15000 last year on CDs and vinyls that I can sell for $2400 ! I spent $12000 on shoes cloths and fashion that I don’t need because I don’t have time to use them . My best investment ability.
I'd like to know how much you make from your day job?
His parents pay his rent
Thanks! Many more ideas to come! No shortage here!!
Great video
Thanks for the enlightenment, Austin. You have a really nice channel! I love you content: it's concise, relatable, and fun!
Keep doing more of these, please. I am in a financial mess right now & would want to start rebuilding my wealth now! #FinancialMinimalistStarter
Btw, I'm a new subscriber from the Philippines :)
My
Rent
Is 2700
. Once my
Lease is up I am moving always from
Florida .
Now I have more knowledge about personal finance, thanks to your channel, I just subscribed.Big ups to everyone working effortlessly trying to earn a living while building wealth in this recession. I’m 45 and my husband is 51, we are both retired, no debts. We are currently living a frugal and financially savvy lifestyle and generating passive income even during this recessionary period. Our commitment to saving and investing in the financial market has enabled us to maintain this lifestyle and continue earning monthly passively through investment.Traveling is now on our horizon, thanks to our financial choices.
Congratulations on your early retirement, Interesting indeed! Currently, I am in dire need of investment advice or tips. Earlier this year, I hesitated and failed to take any action until now. However, I am determined to try something new, as I am very receptive to various investment ideas. I want to be retired in my forties or fifties, I really wish I can achieve what you and your partner has achieved. I believe and it will surely happen.
i really like this topic
Great tips 😊 I just need to use them now
Good luck!
In order to live life intentionally, I have found you have to practice minimalism. This to learn inner flaws and address them. At first, you must go into an extreme minimalism then loosen up.
Well said!!!!
@@ElAgustin 7 years ago, my joke was I was saving myself into poverty.
Touch, no touch ✅ Genial, como siempre!
Anyway you can tell us how much money you make at $15 hour there is no way I could save $80K
I've look for way to invest my money I saved up the only thing I end up with been scamme and banks don't give much interest rate
Thanks for sharing