Yea I gotta spell my name for everyone lol Seriously though super cool to hear how similar so many of us are with our frugal ways even down to the dented dryers 💰
I actually moved out of my 3-bedroom rental to living in someone's basement just to pay off my $13K in debt and now I've done that and saving money. By doing this, I cut about half of my living expenses and especially now, when electricity and gas bills are sky high, it didn't effect me as much as it would renting my own place.
Im teaching my oldest son about money. Many of the same tips you already shared with us Graham. He is 19 and already saved 53k and has been working for only a year. He is on track to have 100k by 21. He doesnt have a degree but I taught him great work ethic and money management. No debt and investing 80%. He didn't need a side hustle but he sometimes works overtime. It's very achievable.
If he has 53k in only a year his yearly pre tax income at 19 years old is likely close to 75k with an insane savings rate or he has had a lot of gifts etc that he has saved. Regardless I’m glad he’s on the right foot and wish the best for him
@Hector Delgado his pay is $22 an hour and has been working since February 2022. He invests the majority in a Roth IRA and taxable account with Vanguard. He will be eligible to contribute to his 401k in July. He works overtime and saves everything. He just doesn't have bad habits and his only hobby is reading.
Wow this is my first notification from u in months!!!!!! I watched u faithfully but then u stopped showing up on my watch list .. glad to catch this one.
Hey Graham, and hello everyone in the comments ! I'm 24, I have a full time job (thank god) but it's been months now that I'm not really happy. I feel like wasting my life (especially my youth) going to a 9-5 job everyday. I don't want to be extreme but it feels like I'm a slave to society. Every day I think "is this what I'm meant to do with my life"? I tried learning trading, investing and video editing, but I still feel this frustration of not being free. We see people create things, have awesome lives, spot opportunities and profit from them, whereas I'm just... I just don't know what to do or to say. I read everyday, yes, I try meditating, yes, I workout but of course I aspire to do more more things. I would appreciate if you or someone would give any advice, it would really help. Thanks a lot !
Graham seems to think most people are like him. "Just buy a home you can rent out, and then work 90 hours/week." Meanwhile, be utterly miserable all the time. At least I would be.
thanks to these past few months finding caleb hammer, dave ramsey and now graham I like to feel im not weird by saving my money. I now save around 40% of my pay without feeling weird about it. I always loved used products and feel like I get to enjoy things more that way. Thanks Graham for all you do!
I actually bought my very first IPhone last year, which was a used Iphone 12 pro which I paid about $450 for, instead of a new one for $1000. Best phone I've ever had to be honest.
I have saved over $100k by 24, but i would say its mostly due to a high income from big tech. I max out all tax advantage accounts automatically which basically forces me to save. The only thing I do in this video is house hack and credit cards. I don't budget even though i know i should, but I never don't have enough after paying all my bills to put more in savings. My big life problem right now is finding new investments to lower my taxable income. I am planning on house hacking a 4 plex, but if i buy it the tenants wouldn't fully cover the mortgage. Would it still be worth buying if i would be at ~$1000/month loss? After a year i would be able to buy another and make this property positively cash flow.
hey can I ask what your role is. I’m currently enrolled as a CS major (Software engineering) but thinking of switching to aerospace engineering. All the layoffs in big tech do have me a little paranoid however I’m trying to get an apprenticeship to earn more money while working in the same field.
Because the principles of financial independence don’t change. Graham and Dave are actually quite different. Graham loves credit cards and actually recommends them Dave doesn’t
@@madwheelsgaming2360 true. Graham, like myself have tremendous self control on spending and paying the balance on every statement. Where Ramsay’s typical caller lacks the self control, which can get you into deep trouble with 20-25% interest.
@@jml9550 yeah I messed up in my early days got a lump sum and paid them all down to zero and now I always pay the full statement . That interest is killer
I’m not saying that, I’m saying “live like no one else, so you can live like no one else” that’s not “financial” per se.. it’s just an annoying coined term of Dave.
It is all context. With Ramsay’s philosophy, it is all about sacrifice today so you can enjoy financial stability in the future. This can apply to finance, health, relationships…….they all go hand in hand.
The reason why many people dont have extra jobs at least in the netherlands is because of the tax system. "To not get american situations." According to the government. If you work one job in most cases you are qualified for "income tax discount", it can only be applied to you job at the same time so most people set it to the job where they earn the most. When not qualified for this discount, if you already earn little on your second job, income tax is even higher so you are left with little to nothing.
Save $100k by 25?! Just out of school a couple years and even my lifetime earnings at that point weren't that much. Do all those now, mostly common sense.
I try and not spend money on anything that I can’t use as some sort of tax write-off. It’s not the best strategy but with a young family that’s constantly growing out of clothes and me wanting to give them SOME things to enjoy, then I justify it and I end up getting some money back at tax time. I also work as a financial advisor so every year, I build my business to continually increase my earning potential year after year.
it seems like graham has such a hard time understand that some people have hobbies that aren't profitable and min maxing their income is actual really hard on their mental health lol
This video is AMAZING! I'm the girl version of him! My kind of friend!!! 👏🏿👏🏿👏🏿👏🏿 make memories with friends/family and buy assets, not things!!! Again AWESOME video!!!
Genuine question: we all agree cars lose value as they age. How come homes gain in value as they age? Wouldn’t you always want to pay a premium for a NEW home vs old. I just fail to understand why any house no matter what just goes up over time. The roof, plumbing, electrical, all degrade. The building material is outclassed after multiple decades.
🤔 buy cheap cars you have to have the luxury of even having money to get cheap cars! At age 18 I was homeless by the time I was 25 I bought my first home so yeah it doesn't come easy and it's not about anything as not spending or investing... it's about survival! Take all the jobs you can get. Try very hard to keep your values and just keep going after one goal at a time!
You know what drives me crazy about phones? They keep making tiny incremental improvements to the camera -- and like, no. It was good enough a decade ago. Yet the fricken speakers suck ass. Quit messing with the camera and improve the damn speakers. THAT'S what I'd pay extra money for.
Ebyr40 is truly revolutionary. I don’t think people understand yet how this will change the future. It’s truly mind blowing. We are witnessing an event as significant as the internet.
Great and insightful video as always Graham. I actually buy and hold my money in retro video games( there are not my only investments ) I’m a nut but I’ve been collecting and storing away my titles with stunning appreciation for 20 years. I hope you get a kick out of my wild investment strategy 😂🤘
Graham is such a hypocrite. He says he only bought cheap used cars in his 20’s like the Prius. Yet, he has another video where he splurged on a lotus exige sports car
@The_Graham_stephan hey Jack and Graham, if lAlly does go under, please, please do a video advising us what to do. Shi-ing bricks over here as my money is in ally and Columbia.
Really doubt most of these tips actually saved him much of the cash. I would guess the main way he saved so much was by having a large salary to begin with.
Graham I think you missed your how much money you made on RU-vid in 2022 video did you make one for 21 as well or did you miss it? I don’t remember for sure but I think you did make one. Also, what are the best credit cards out right now? How is the monkey investing doing? Also, are you doing any business adventures? Come on man you’re slacking. I need an update on what my good buddy Graham is up to see you. I just gave you a bunch of video ideas as well… I have video ideas for days by the way.
Hey Graham, I've been subscribed here for a while - great to hear that you like good watches because I have my own brand! I design them all myself using the best quality components and mechanisms, and my high-end luxury pieces are all entirely handmade. *Maybe* (if it suits you) we could do a promotion on your channel? I'll happily talk to you whenever you're free. Best from Belfast in Northern Ireland (UK).... Conor Stanage / Stanage Watches 😊
That landlord "tip" is honestly pretty fucking scummy. Having your tennant pay the whole mortgage and living for free off their hard work. Pretty scummy. Effective, no doubt, but scummy
How is that scummy? He rents out extra space to other to cover his mortgage, sounds perfectly normal. So he is suppose to just let people live in his home for free. Well I assume you have a car right? Can someone use your car for free when you are not using it?
