Tracking (monthly) income and daily expenses. That way you know exactly how much money you spend and how much you have left at the end of the month. No need for an app or anything. An Excell sheet / Google Sheet will do. Love your videos by the way!
Investing in the trade markets might be inundating at first but that doesn’t deny its profit worthiness, since the pandemic till now I’ve been earning serious profits in the stocks and crypto sectors
It’s facts that the markets can be very overwhelming especially to beginners yet on the long runs it can also be a cash flow machine, only thing is you have to know how to go about it
Someone got me into the markets, it’s just unbelievable how much profits I’ve yielded following proper mechanism. I wouldn’t say trading get easier, it only got more remunerative now that I’m consistent in it
The markets seems to scare me even if I want to invest in it so bad to stimulate my incomes before retirement, I love to make new money but when it comes to trades I get lost, everybody needs help
Having genuine insights about the financial world and investing in it keeps me reimbursed and debt free ❤️ while at home I’m passively earning incomes investing with aid from trade pros, system has guaranteed me means to get over any financial crisis
Avoid credit cards Don't follow the crowd It's okay to be cheap Make money work for you Focus on the big 3 (housing, transport, food) Don't be afraid of (good) dept Take risk when you're young Money is not the goal (do think of what actually IS your goal :))
0:09 Avoid Credit Cards 1:17 Don't Follow the Crowd 2:39 It's OK to be Cheap 3:34 Make Money Work For You 5:01 Focus on the Big 3 6:13 Don't Be Afraid of Debt 7:20 Take Risks While You're Young 8:27 Money is Not Actually The Goal
I disagree with him on the first one, using a secured credit card and building credit can help you an absurdly large amount. Just like investing into the stock market and crypto, utilizing credit cards to build credit and self discipline is high risk-high reward. Except with this you have more control over your risk, and gain more than just with money. 🧠
The best advice I received was "don't just live within your means, live BELOW your means." I think way too many people spend every penny they make and never save and invest any of it. We earn (passively) more from our long-term investments then our actual income at this point. The power of compound interest can never be understated. It can either work against you (if you're paying any interest) or work for you via investments.
I go thru periods of buying a lot and not buying at all. Going through your things regularly and appreciating what you have, only buying things that meet the criteria of : fitting you really well, being good quality, something you absolutely LOVE not just like, being very comfortable for you and fitting your lifestyle, that will help narrow down what you bring in. Challenge yourself to a “no buy” month and then try another month and so on. See how long you can actually wear what you have! Try and get your money’s worth of what you purchased :)
Great stuff, I have seen so many videos and I am still confused about stock trade and investments, I tried to begin the stock and crypto trading myself but I was not successful. Now I wanna try again but this time, I need a good advice and directions to follow. I do not wanna loose my money, but I just have to try again, I do not give easily.
I learnt a lot from these minimalist videos, I've actually put it into practise for this year. Living on budget and doing away with things I don't need, I rethink before I buy things now. Needless to say this is really changing my life, I feel empowered, I now choose to invest. So thanks a lot
Hi Gabe, I just love Your videos, especially the ones about minimalism and decluttering because they are a lot of fun to watch. The biggest side effect is that they always make me do some decluttering or cleaning, although we are a minimalist household. And if I don't do any of the above, I always make myself a cup of coffee. Greetings from Germany
Today I went through my budget to see how to turn my cash around. Paying off a vehicle will add money to my savings. So excited to see this even better.
Love that first point about credit card debt! Gotta avoid that but using credit cards the right way like you said is a great way to travel for free and something that I love showing people how to do! Great stuff as always Gabe 😂
"When I buy something, or you, you're not paying money for it. You're paying with the hours of life you had to spend earning that money." - José Mujica
Your few words really did impact me...like wise you had said "Before you buy something you always think how much you have worked to earn that money". And that has really made me think twice before I make any impulse purchase. Thank you and keep posting such amazing videos. Great work!
Gabe, thank you for the continuous content. I quit smoking 3 months ago and it turned my life around. It stopped me from spending frivolously at convenience stores. I’m 31 and have lived irresponsibly beyond my means. Now I’ve made a budget and flipped all that around living frugally and enjoying it way more than before. I wish I was younger when I realized this, however “the best time to plant a tree is 20 years ago. The second best time is today.”
Credit Cards are a tool, not free money. My parents always avoided credit cards, painting them as this evil temptation, but actually, what I wish they would have taught me is simply to never buy something unless you have the cash to do it. Houses aside, if you don't have enough money to buy a TV without your credit card, then don't. If you buy it with a credit card, you should do it with the knowledge that you will also be paying for that credit card bill in full at the end of the month. I never buy anything I don't already have the money for and so far in my 29 years alive I am still debt free.
Bravo Amy! I’m more than twice your age and didn’t get it young like you (wish I did). But I finally, even though I was older, buckled down and have 3 streams of income that I live off of. Live off one and save/invest the other two. Not a millionaire (yet), but hey, I’m still enjoying not being strangled by debt. Frugality is the way! Learn it young! Good job!
Nice, but your parents still did you a favor relative to the common use of a credit card. Your life would be a lot harder if you learned your lesson from the opposite side of the credit card spectrum. Give them a hug and thank you
My husband texted me the amount we had in our 401k the other day and said…. “It was fun watching it grow hopefully the economy doesn’t crash now!” At least we are in our 40’s so if it crashes at least it has a chance to grow again before he retires. We did all of your tips
Hi from Florida! I just subscribed! I’m 40, kids, loads of student loans, not too much consumer debt just a few small home improvement type loans for our property (all necessary except the pool/backyard Reno but it significantly increased the property value and keeps my little boys outside where I want them haha! 🙃 I’m interested in investments, minimalism, and creating personal freedom. Loved the video!!!
@Andrian zach I really enjoy doing my work, and still financially independent having my passive income pay for my lifestyle. I will retire early at 40 so I can travel the world
Dropping some Ramsey quotes, nice. Keep up the great work. 👍 I am trying to implement more minimalism strategies in our household to allow us more freedom for family time and more investments. Your videos are helpful and motivating.
Dear, Gabe, could you please explain (or even better do a video on) the difference/line between frugal and cheap in your opinion, respectively with examples from your own life?.. Thanks a lot! ♡
Frugal is going out to a fancy dinner with friends every month vs. every week. Cheap is when you go out to dinner with friends and leave a poor tip or try to stick your friends with part of the bill that was actually yours.
Cheap is buying lower quality, frugal is not buying unnecessary things. But God chose the weak to put shame to the mighty, cheap is not a bad thing, neither is expensive a good thing.
My advice: Do not retire! You will be bored stiff if you do not have something satisfying and worthwhile to do. Yes be frugal but LIVE your life. You can do everything when you are much older and you will appreciate it more! there is no time limit to achievement. I worked for myself for years - only part - time but earning enough to make good living. Do what you enjoy and it's not like work. I cruised the Med and the Caribbean in my 40s and 50s It was fantastic! Have goals and never stop LEARNING - the secret to happiness. GOOD LUCK!
I always advice people not to put off everything until retirement because one never knows what the future brings. I'm glad my father got to do some of the things he enjoyed. He was gone by the age of 57.
@@michelmurphy7152 wow, sorry for your loss❤️. I retired from teaching elementary school at 62, then subbed for 5 more years, 😁. Would never want my own business, have seen people work themselves in the ground doing that. People should always concentrate on physical health in a big way, starting from the youngest age. Keep your mind content, always help others. 🌴norCalifornia.
@@michelmurphy7152 I agree because people are dying quicker now. Life is uncertain and slaving away to retirement is crazy. There's some people that had finally retired late in life and died without having to enjoy it. My Aunt died a few years after she got her S.S.
Another awesome video, Gabe! Inspiring people to spend less money is a great thing. Our finances can get ugly real fast… there’s infinite stuff to waste money on…
@@nawaal4452 Yeah it’s scary because even knowing that, you still probably want some things haha Same goes for books, movies, and even RU-vid videos. You could spend multiple lifetimes binging content and still never see everything… choose wisely my friend:)
I follow you for quiet a while now and I really like your content, in first place the minimalism, less the frugalism. A question that always comes to my mind, when you talk about your plans to retire in your 30s is, what will keep you ''alive'' then. You have this goal in mind and obviously you do a lot to achieve it and it feels like you really enjoy your life like that. I feel like, you have already retired and found a way to work without really working. At least that's what it looks like to me.
Nice video 👍I just appreciate the fact that you take your time to educate your viewers. I learn alot from you . And I am glad to be a subscriber on your channel that way I never miss out the good stuffs.
greetings here I'm a huge fan of earning more money, and I think everyone should have a side hustle. side hustling can allow you to earn that little bit of extra money that can help you achieve your financial goals faster - whether it's paying off student loans or saving for retirement.
True actually, we all know that successful people don't become victorious overnight. What most people see as a glance wealth, a great career purpose is the results of hard work and hustle over time. I pray that anyone reading this will be successful in life.
please how does this whole Bitcoin thing work? I'm interested and ready to invest in but I'm gonna need assistance from any productive and reliable professional.
Yes you're right. There's a professional which I have been investing with him his names is Mr Michael Marcus. We've been working together for months now and he's been awesome.
i got me my first credit card about 10 years ago, when i was 50 as some foreign internet shops demanded me to use one. Not cause i was not able to get one (i had a 6-figure job when still working, so no problem), but i just saw no real reason to use one, i was just fine with my debit card.... ........if i cant pay it cash, i can t afford it "now" and wont buy it!" has always been my motto! Worked well for me, never ever bought anything on credit in my life! I always save so i can always pay any unexpected purchase in cash.
Yea im a truck driver and I love it yea alot of people don’t like trucking but it pays tho and it makes you budget a lot out here and at home and makes you a cheap person and when I get home I treat myself every once in a while
Best financial advice I got was to always do the math and add up how much things will cost you a year. Things don’t often seem expensive when you buy one or two coffees on the go a day £3.50 each sounds affordable, get out your calculator and you’ll realise 2 a day for a year is £2,555 - now deduct that from your salary and see if it still doesn’t feel like a lot
Awesome video Gabe, also gave you a new sub so you can get to 100k by end of year! I’m a new creator and all your points of advice really resonate with me. Good luck on your journey man and excited to see you grow even more. ✌🏼
hey gabe. love your content bro. i plan on following your footsteps and having minimal clothing. where to you shop for jeans. it’s hard to find ones that are look and feel great and are also comfortable. thanks in advance bro
I wish I had this advice years ago, well your chanel too! But no RU-vid back then. I pass your advice on to my young adults now so they have the know how to avoid the mistakes I made. Thanks for your content Gabe! Keep it up!
Well safe to say the video has hit the algorithm and I can see you had under 40k subs less than a year ago so it's clearly paying off! LOVE the mindset and it's literally like listening to myself speak, and the quality of videos is also great. Great channel and insights, got yourself a subscriber and who knows a potential collaboration in the future, seems like we might be in a similar niche! Keep smashing it.
I still have the iPhone 7plus and everyone makes fun of me saying I am “not up to date”. But I honestly don’t care. I paid of $32K of credit card debt etc in one year and now I am on my student loan debt journey. ✌🏽
Here is one piece of advice: look into US Treasury I Bonds.....they are currently yielding 7.12%.... Another: Look at what you have contributed into Social Security.....It takes 40 credits just to qualify...and the more you earn affects you much you can receive.... And another:Make your own lunch..... And the biggest.....Invest in your health...take the stairs, walk everyday.....exercise, live in moderation.
Debt Enslaves you to those you Owe that Debt to...our Grandparents knew not to get into 'uneccassary' Debt...they would go without that which they couldn't afford. Banks are Not your Friends, they use You to make profit....lots of profit.
I have had the same iPhone since 2010 and it only broke in 2021. So I totally agree- there is no need to upgrade every year. Plus nobody wanted to steal my phone lol.
i achieve my fire movement this month i told my manager i quit my job. i say i have enough money last for the rest of my life. i am 34 years old now it took me 16 years to achieve financial independence retire early.
I had several jobs where I was 100% responsible for travel upfront and was reimbursed later. So I leveraged credit card perks simply because work paid off the card each month. All the benefits and no financial risk with credit card debt.
Ive been trying-to be apart of the FIRE movement but idk because Im about to turn 30 and dont have a plan. I just minimize what I spend and am still looking for ways to make money.
