I am living on SSI ain't going to get off of it plus thinking of going back to college which would equal massive student loan debt if I were to get off of it. I know I will not be going though all these steps, I am trying to figure out what steps I should be going through I am thankful I am not starting off in debt.
I've said it forever: Smoking/Drinking should ban people from getting food stamps. Many people who "cannot afford food" get food stamps and then spend $400/month on cigs?! I do not get any government assistance and cannot afford to smoke. If I spend $400/month on cigs I would have a much harder time feeding my family.
This channel has helped me out so much. Just over two years ago, I was 22, I had $16,000 in credit card debt, I was living pay check to pay check and spending like I was a billionaire on vacation. But since watching this channel, my life has really turned around. I now live extremely frugally, started investing, and I now have only $800 in credit card debt. I’m in the process of buying my first property. Thank you so much. 🙏
This guy telling everyone all of my secrets for free. I'm in my 40 s and have done much of what he's teaching I live comfortably. My advise is listen to this guy and take your financial life ino your hands.
@@graalnoob1113 My remark is a sarcastic one. It's me trying to say to people to listen to this guy. He has really good information. And that this type of teaching has worked out well for me in my life. Cheers!
im 21 and I wish more people my age understood that brunching every weekend, clubbing every night, buying high end brands because its a trend, or just eating out at restaurants weekly isnt sustainable for a successful future. I love your channel and I think its so underrated
Hey, Graham can you help me with my financials. I’m trying to live frugally but I don’t know what else to cut. Rent: $700/month Groceries: $300/month Tuition: $200 Avocado Toast $820/day Utilities: $75/Month Transport: $100/month Really not sure what I’m doing wrong, I think I may be able to cut back a little on my grocery expenses.
Hey Graham, I just wanted to thank you for all you have taught me with your videos. It's been about 9 months since I've stumbled across your videos, and since then I've: - Saved 6 months of an emergency fund and transferred it all to a High Interest Savings Account. - Started a Roth IRA and have already contributed almost $2,000 to it! - Unfortunately had to move, but thankfully there was an emergency fund for a security deposit and rent to fall back for minimal stress. - Quit my old job for a better job with full benefits and 401k with a 7% match! I just wanted to thank you because honestly nobody else in my life would have had the knowledge or taken the time to teach me this. I feel that the next step will be to save for a down payment for a home in the next year or two.. Ill keep you updated! Much love and Mahalo, Cynthia
Just like you I have know one in my life that taught me anything about financial education. I'm now the only one in my family that has an emergency fund a Roth IRA I also have a pension and a rental property and my family all just say I'm a cheap penny pincher.
Money is attracted to those who celebrate it. money follows value. the more value you provide the more m thy oney comes your way. whether someone becomes rich by teaching how to be rich or by learning. i celebrate every broker out there, thank you for adding value to customers. i initially deposited $3,500 to get a return of $10k and that’s was a 50% of my profit in a month
Its up to you to look into that avenue, find out how those markets work and find out which seems best for you. Take advantage of the foreign exchange rates to earn money and asset investment (spending on assets such as real estate and cryptocurrency in which equity and value will then grow. Will surely!
There is so much potential, … I am just waiting for it to be a billion dollar industry. I do think Bitcoin is the first [encrypted money] that has the potential to do something like change the world. I also trade under Mr Anmol. Make more inquiries on his mail box @ a n m o l t r a d i n g s t o c k s @ g m a i l c o m
Stack your money and act broke. Those who don't manage their money will always work for those who do. Do not save what is left after spending, but spend what is left after saving. Gain control over money or the lack of it will forever control you. Maybe you guys might have seen me on other videos but anytime I write a comment, I always tell my story with it so people know why I am saying what I am saying :) - also to keep inspiring other people because for me, reading other people's success journey is so motivating. :) We own a cookie shop business in our college town. When we first started it, we were living in our car with very little direction, just a huge passion to be successful. We just graduated college as well. We started a cookie shop out of a local bagel shop in their off hours at night. We were living in our car in the parking lot of the shop at the time with my boyfriend, Bran. It was a crazy experience but it worked! We became a success! And how we have our first storefront location (a second launching soon!) We started it to fund a year long backpacking trip around the world and to be successful while living the life of our dreams.
wow, so common sense, but little do. "Do not save what is left after spending, but spend what is left after saving. " I gotta remember I'm spending remaining what I saved after.
Cass & Bran I love your story and your road to success. But the SAVE, SAVE, SAVE mentality is actually not what the 1% would recommend at all; which is what Graham’s video is more geared towards teaching. Most of the wealthiest people in the world actually teach that saving is silly. And that you can never save enough. I would encourage you to check out Dan Loks latest book: FU Money; as he breaks the common paradigms related to money and how the majority of people are raised to think about money. Another great book is Rich Dad, Poor Dad by: Robert Kiyosaki. “Saving is for broke people”; is a common saying of the truly wealthy. Lastly, stack your money and act broke is another bad piece of advice. You become what you think about, and act out. If you constantly are thinking and acting like a broke person; that’s all you’ll ever be. You must first become wealthy in your thinking and acting; before you truly become wealthy.
Mcneil United Enterprises Awhh thank you!! If you subscribed to my channel I hope you enjoy being a part of the journey to our second storefront location in Tampa, Fl! It's going to be a lot of hard work but I am sure we will hustle through and have a lot of fun doing it!
1. Track your expenses and budget 2. Have an emergency fund (3months) 3. Pay interest debt 4. Invest in yourself so you can make more money 5. Invest in a roth IRA (invest) 6. Invest in taxable accounts (investments)
I used to teach a class in economics which I covered all these subjects. Now all my students are your age and I get all sorts of thank you about teaching them useful stuff they all needed.
@@grahamroberto6578 You're right Sir, it's obvious a lot of people remain poor due to ignorance, it's better to take risks and make sacrifices than to remain poor
Glad I’m learning this as a teenager before I actually have personal finances. Hopefully I can work on this as soon as I have to manage my money and avoid bad debt in the first place
Listen man... I'm 18, started working at 16.. I tracked my expenses and made sure I never spent more than 10% of my income on personal expenses.. Currently, I have a net worth of $20,584.39 with about 8k of that invested. I just want to warn you, people will judge you and want to hate you, just for taking care of yourself. Ignore them. you're doing great. Keep it up
this is just like in my high school IB math HL class when the teacher kept saying, "If you retain nothing in this course just remember this ONE, SINGLE lesson on compound interest," and it has continued to ring in my head into my 30s. The remaining multivariable calculus and matrices all went over my head.
I use "YouNeedABudget". It connects right to your bank account and then you're forced to see that distribution. Also is a good tool for planning spending and bills and such. One of the best things I've done for myself.
Step 1 Track you spending 👌 Step 2 Emergency fund 🖓 Step 3 401 match 🙋 Step 4 High Interest Rate 🙈 Step 5 Invested in yourself 🎒 got my mba degree 2018 Step 6 Rot IRA 🙀 --- I think you are right with emergency fund to avoid implusive decisions with my money 🙂🙂🙂🙂🙂🙂 I will work on it 😥. Thank you for this video 😇😇😇😇
I know I’m a year late but I’m 14 and taught myself about saving and making money through you and I taught my parents about money because of what you have shown me and I can’t thank you enough for it so here is my thanks and I wish there was a better way to thank you then smashing the like button and commenting on every video for the RU-vid algorithm
I live in a 20' travel trailer and pay $350 including sewer, water, and electric. I'm using the snowball technique to pay off my debt, it works. I should have over $30k in savings in less then 2 years. I squeeze a penny till Lincoln cries
@@cherrytung get a small travel trailer. You should be able to get one brand new with a 15-30 year loan. When bargaining on price always start with 30% below msrp. You will probably get at least 25% off.
I always paid for all the dates and I would buy him gifts. At then did the year I was wondering where all my money had gone from my two jobs . For rid of him and I save soo much money
I've been budgeting and building an emergency fund for a few months now. I have realised that in the first two maybe three months wont be plain sailing saving exactly what I allocated and going out a couple of time more than planned. With that being said and lessons learned I have rained myself in and absolutely loving it so far!
*The first step is, as per usual, the most important one. I started budgeting for my parents back when I was 15 years old to finally help them get a better vision on their financials, and now, almost 10 years later I'm still budgeting for my self and yet I see people that would laugh with the fact that you have "enough money to go around the month, and you still count your pennies". Oh well...*
You dont take a breather until you have enough to buy a decent home with cash, and have a steady income stream. With a wife and kids, the amount of cash needed is even greater
I’m 25 and have $22,000 in savings after 1 year! How?? I live with my parents and pay about 60% of expenses of our household. We live in a $400 apartment. I also travel a lot! Just be brave, but do something you like as well!
These tips really do work! Always have an emergency fund or a back up account, not only for ease of mind but for any emergency you might come across. Thanks Graham!
@@GrahamStephan Btw I love your videos, great lessons and awesome personality, totally why I subscribed! I was more making a joke about how when giving people advice they claim they tried everything but they really didn't. I've been putting your lessons to work and I'm thankful for the advice. 😉
Happy to already be on Step 7. Great advice to follow, it works! I was lucky to be taught compound interest in the 6th grade, if you don't know what compound interest is or how it works for you, time to up your math skills.
I'm so glad I'm 19 without any debt, it feels so good to have nothing to worry about and I can focus on learning as much as I can and avoid any of the money traps that most people fall into
@@silverfranklin508 You're right , it's obvious a lot of people remain poor due to ignorance It's better to take risk and make sacrifices than to remain poor
Hey Graham. I am 28 years old and I just stated budgeting my expenses because every month something or the other comes up. An emergency here and an unexpected expense there. But last month if it wasn't for my budgeting I wouldn't have dealt with them. And even though it took a large chunk out of my savings I still had enough money left over till pay day and meet the regular expenses for the next month. It all started when I stumbled on to your channel and I think I am getting to a better place now then I was a few months ago. I just hope I will have enough money to retire on and try to achieve realistic goals soon. I am still try to pay myself first but... It is a work in progress.
Save up some money, try yo learn a new skill and start again as selfemployed or micro entrepreneur Will make you earn money, with less time and no limits
I've started watching more of your video's lately and have to say this is one of the better ones by far. Some sound sensible and actually doable advice in there. It just a shame that time / effort needed to get most people out of the hole, scares them into even starting. I know that has been the case with me in the last 10+ years. Had I known this advice 10 years ago and actually had the mentality and willingness to start this journey back then, I would know be so much better off and actually have a retirement plan to be proud of and maybe some spare money in my pocket. As it is I've been rebuilding my financial life for the past 12 months and I'm so much happier for doing so. I'm still not nearly as frugal as I should be, but I chip away each month at the bad money habbits that I've built up all my life. Now I actually see light at the end of the tunnel and in 12 months time will have all credit cards paid off and be £400 / $500 a month better off.
Thanks for all the knowledge that you give away for free through RU-vid, the least I can do is wait and see/click to the ads on the video. Greetings from mexico and keep up the excellent content.
I've been watching a lot of youtube and study and trying to learn everything I needed to know on how to get rich, this was the last puzzle I was trying to find of what order do I go in trying to get stable and rich, whether I make an emergency fund, pay off my debt, change jobs, invest in stock. Your video answered my questions and honestly this is the most helpful video on RU-vid!!!!!!! THANK YOU GRAHAM!!!!!!
Watched Grant Cardone 10x ad entirely before this video, why? Because I like knowing that Graham is getting paid by Grant in a way. Just imagine Graham Stephan at age 50
Dear Graham, I just want to tell you how appreciative I am for the videos you have created, especially this one. It is wise advice and no nonsense. I wish I knew all these twenty years ago but I still have twenty years to my retirement so I will try out all that you have advice. I am also sharing your video with my friends. I will keep you posted in a few years on my progress. Even if you do not make an extra cent from my viewing of your RU-vid videos, please know that you are helping thousands through these helpful videos. I could only pay it forward by sharing your video with others and hopefully get to create my own videos one day to help others. Thank you!
Graham thank you so much for opening my eyes. You're a huge inspiration to me, I'm barely 19 and come from a lower class family. I hope to become like you and be a real estate agent.
Really good advice. I started doing exactly this a few months ago. I am now mortgage and debt free along with amazing pension and saving half my monthly pay cheque. Feels really good to know I can live for at least three years if the worst happens.
Graham, I like watching the videos you put out. Graham, I am in my 60's, just so you know . I started at 17 years of age on my financial life. I bought 2 houses sold one bought 6 vehicles sold most of them one was stolen but I been tracking my funds for awhile but I did not really do much investment I still believe I did ok for the lack understanding I had from my early years. I retired 5 years ago. Home paid off. Just thank you for these videos hopefully you can really help younger generation. Sooner people start on financial better off people will be.
Holy crap, people struggle on 3k a month in the US? Meanwhile in the UK over here many people have to survive on minimum wage of 12k per YEAR! It's almost impossible to live on your own nevermind save anything :( My first step is education. I'm starting a university degree this year which will help me get a better job in the long run. Although I'm already 29, it's never too late!
Im 30 and in the same boat, I really want to be an MD, thats 10 more years of schooling. So I need to find a way to fund it without going too deep into debt.
There's always the possibility of getting a degree from a trade school and following the steps in the video University and student loans might give you an appearent "safer" approach, but I I doubt abou It, more time consuming and the results don't come early
@@tortolito56 maybe it depends what country you live in? In the UK my tuition is approximately £9250 per year. Sounds horrific but, you don't have to pay it back all at once, a very small amount is automatically taken monthly once you've done the degree and got a job AND earning over like 24k or something. Which is enough to live on here just about. Ontop of that if you haven't paid it off after 30 years the debt is written off. So... If you earn under that bracket you'll never pay the loan back I guess. I'm pretty sure Scotland do not have university fees. So lucky if you live in Scotland 😂
@@Xana_K sounds fair Luckily your tuition fees are not as high as in the US, where most of the problems with student loans come from I'm from Mexico, here we are not used to get student loans, since public universities are almost free ($285 dollars a year the most expensive) Eventhough there are many private schools, the usual isn't getting a loan, but a scollarship (unless you can pay, of course, since it isn't a lot of money compared to developed countries 1,000- 10,00 US dollars)
Graham thanks for another value bomb!💥 Love the value you give in your videos unlike the other youtubers who only talk about their results. Thanks Graham!👍
Am I the only one or is the audio quality off in this video? It is slightly echoey and now that I have noticed it, I can't listen to the video the same
After tuning into a number of your videos I finally got inspired to change my own relationship with money. Moments ago I finished up setting up my finance tracker excel spreadsheet! Was a little daunting to see the expenses add up but definitely feeling more empowered now that I see it all! 🚀🚀🚀
Graham I wanted to thank you. You've said something that nobody talks about when trying to improve your financial situation, but I've been giving this advice for years!!! Your very best investment is into yourself. The more you learn, the more you can earn.
Best part of my day is getting this notification and competing for top comment, with the hope of getting first. Mentioning avocado toast might help, but so will beating kian and b the lee.
Graham I totally believe in following the 401k match advise unfortunately 49% of employers don’t even offer it and 41% only match 0-6% of your income. Hopefully everyone here is a part of the 41% Otherwise the 401k in my opinion takes more from you than it gives.
As Dave Ramsey says.. if paying off debt was solved by math, there wouldn't be any debt to pay off. Either way works great, but paying off the smallest loan first definitely keeps you motivated.
I was lucky enough to get introduced to an Economy class in high-school. Even though I have parents and friends with parents that taught me a lot about finances and whatnot I was still glad to be introduced to the class because stuff that they told me in class, was stuff my parents never taught me about.
A couple if my siblings are not managing their money properly. I have tried to give them budgeting advice but they insist they don t have sufficient income to save. They ask me for money after I told them I have an emergency fund but buy name brands and eat out often.
My background is banking, and literally no business owners have more than a token $150k in a 401k. It's good advice for the middle class, but absolutely not a 1 percent strategy.
How the real 1% manage would be useless. We don't have the money for that to work. But this is basically "How millionaires managed their money to get to their first million" which is enough
Hey Graham, do you have any tips for Canadians? Seeing as how you have family in Ontario, what advice would you give to them? It seems like there's a lack of Canadian financial info out there. Thanks so much for your videos!
Kevin Canlas honestly might want to lol into rrsp for retirement. A tfsa for high interest savings (about 1$) per thousand per month depending on the bank. Could also look into other accounts to like investment accounts through any bank that has a financial expert monitoring your investments and helping you make the most profit of your money
Another really big thing that helped me start saving was sleeping on a decision. If I wake up and think ok I still want this I get it rather than impulsively buying something. Especially if it’s more than $100. I really don’t like making purchases bigger than $100 and I’m not even 18 yet. Thank you graham!
I love talking about money and how it flows in investments and compound interest. I’m 22 and at this moment my bank gives me around $0.24 a year while my portfolio returned around $350 in a year and I do minimal trading and mostly holding positions/buying/and re-investing dividends
Never get in the habit of lifestyle inflation no matter how much money you make. Buy things on sale. Only spend money on things you absolutely need. Always buy things for their value, not to show off.
Never? Only on things you need? I would say only if you live below the poverty line. I am broke, knowing this I try to make more money, I look for ways to save however life can be short, i am painfully aware of this fact. You have to enjoy your life somewhat. A vacation here and there, a massage town in over there and great tasting food make without going into debt for it, a tremendous difference in my life.
@@GrahamStephan Gram(is it okay if I call you that?) My dude, I got love for you and everything but I dont think you should agree with a comment alluding to living miserly(hope that word is right) tha basic principle of money and finance apply but every now and then where possibly we must add a little more enjoyment in our lives, and the lives of people around us. Life is short let's make memories together, let's go places, let's do things, lets live life.
My fiancee's birthday is tomorrow, she wants to do a seafood boil. I know she loves lobster and she also mentioned it would be great to have some lobster tail. I ordered a 6-8lb jumbo lobster to surprise her with tomorrow. I had to put it on my credit card because I dont have the money until I get paid Friday. We have less than 3mths emergency fund, our wedding is coming up in may and we are also moving sometime between March and may. You would advise against this but this will be a great memory for both of us.
Currently at: 1. Tracking my expense 2. Building on my Emergency fund 3. Matched w/ 401k 4.Investing in myself --- while 5.Paying off debt w/ high interest Goal is to get here: 6. Roth IRA 7. Invest money ----- Goal is to get here Kind of crazy to be going through most of this now but never heard of Roth IRA account so thanks!!
Some people can't even afford a $200 unplanned expense. They live paycheck to paycheck? Why do you ask? Because they don't teach money management in school. Instead they teach you to memorize the general that lead the war of 1812. Our education is top notch. :)
