This is something very close to me. When I hit rock bottom and stuck on minimum wage it taught me to make the most of nothing, when when I turned to self development and hit 100k I didn't change anything other than better food for 8 years and living below my means has set me free. Stay Uncommon!
And the government will get even more of it. There is a bill in congress that will tax not only your paycheck but your checking account, your savings account, your retirement fund, your house, your car, EVERYTHING. It's called a wealth tax and it's not for the rich, it's for EVERYONE. We can't afford this country anymore.
I don't need movies, or streaming services, or restaurant meals. I'm warm and have tasty home-cooked food to eat. People need to appreciate the simple pleasures - a nice pot of tea, a chat with a friend, walking through wet grass and having warm dry feet. It doesn't take a lot to feel good about your life.
I went from negative equity after divorce and child support for 18 years and living below my means and investing to becoming a millionaire and nobody knows and continue to live below my means and invest and eat great tasting food and i sleep without stress
Why aren't you still married? Did you break your vows and cheat? If so, you deserve to suffer. Hope that was not the story because once you are married, you are married forever. Stop rushing into marriage if you aren't ready or are not ready or plan to commit. You have to be faithful.
I used to make a ton of money and blew it all. Now, I am having fun living below my means. Life is simpler and, when I DO spend money, I enjoy it more. BTW, I have a SoFi account and they send out a digital email. Yesterday’s said that Starbucks is reporting lower profits this quarter. They are attributing it to the economy and that more people are making coffee at home.
I recently got a raise, so I’m reviewing my budget and I do a zero based budget. Every single dollar gets allocated to all expenses, savings and debt. I’m focused on paying down my student loan and putting more towards that. I’m building up my savings and spending for fun within reason. It’s a healthy balance and I don’t feel too restricted
I love the advice in this video! However, the one part I disagree with is shopping as discount stores for groceries, especially for produce. I will spend the extra money to shop at Sprouts, Whole Foods, Central Market etc for much higher quality foods, because I don't want to pay for it later in life by getting preventable diseases such as heart disease, diabetes, cancer, etc. Dollar store boxed mac and cheese is not food. Invest in your health, because health is wealth!
Thanks! I have a certain writing style and it's much easier to write things out in sections and let you all know the sections! I've gotten to write so much since doing this!!
@@ElAgustin I think that's what makes your videos well presented and the information neatly laid out. While I appreciate other channels with a more impromptu style, yours makes it easier to go back and find a useful point!
I only buy what I need and if something needs replaced. I live a simple, frugal, minimalist, and modest lifestyle. So, after I pay for my bills, groceries, and gas. I keep around $500 in my checking. The rest of my monthly income is put into a savings account or invested. I find no cost or low-cost activities in my city. I use my library.
The bus and the occasional Uber is very affordable and reliable. No insurance or maintenance. Rental cars are real cheap on weekends if you have to get out of town
Im a super happy guy bc my rent is aprox 550 bucks, I live in a criminal area, wich means low rents. I go to work by bike (income ca 2k a month) and my food is from a dumpster. I need to restock once or twice a week. Freezer full. Fridge full. Delicious and good food, sometimes even luxury. Haven't been buying foood for 40 days now. This is my life hack.
I love this Austin 👌 I just had a £3000 car emergency and it near wiped out my Emergency fund but I’m glad to rebuild it rather than smash it on my credit card
I love this video. And yes, you always wear black right??! Just kidding! 😄 'Living below your means' was my favorite thing to do when I hit rock bottom financially wise, years ago. And I still do it. The first three years I didn't spend anything more than rent, food and bike reparations. So no clubbing, new clothing, eating out, etc. At year four, I spend a part of savings from year 1. At year five, I spend a part of savings from year 2. At year six, I spend a part of savings from year 3. And so on. This way, I'll have a builded up buffer of three years maximum savings, of what I'll spend like the half of it for fun and extra things in life. (So in year four I spend half of savings from 'year one', etc). The other half of savings I set apart, and won't touch it/spend it. I'm still not hitting the 10K, but that's OK. I'll get there. (Living in Europe, Netherlands. My rent is probably more than half of my income, my *total basic* needs are probably around 85% of my income) For me it's a marathon, not a sprint 🙌 But the mindset of living below your means, helped a lot at the beginning, especially the first hard years to get in into my mindset, financial system and DNA. Now I have enough money to haul bigger portions of groceries, so I'll last longer/and it's cheaper. So I'll bulk the things I'll need and definitely use in one year (soap, hair products, razors, parfumes, new socks and underwear, spices, tea, etc) for a better price. Everything I'm not (extra) spending is going into the savings account. In that way, I'll live without any mishaps and regrets. I'll have everything I need to eat, be clothed, be hygienic & feel fresh and so clean 💫👌 Even my money doesn't stink 🫢🤣
Meal prep the week. Frozen foods are great for this. Definitely treat yourself once or twice a week dining out to break up the monotony. We could all use a few less calories anyway
I often watch these kinds of videos online. Unfortunately, they tend to repeat themselves a bit but do offer some good advice. I agree with most of it, but let's take France as an example. The salaries of most people (75% of workers) are so low that it's very difficult, even by depriving oneself a lot, to build a viable emergency savings. It's hard to say everything, but the advice given in this video is very general. It should be added that it's not necessary to buy technological gadgets that advertising and society push us to acquire because they are time-consuming and expensive. Besides, beyond the banalities I just mentioned, Austin presents things in a rather pleasant way.
Sell everything you own except a laptop and a couple of outfits. When you work, put 75% of what you earn in the bank. You might have to do a bunch of stuff you don't want to do in order to do this, but anything is possible if you were determined. After doing this for a few years and investing properly, you will be building a real retirement for your elderly self. Or you can just blow all your money on stupid sh*t and live in a cardboard box when you are 80.
I agree, my husband and I have ten boys (yeah you read it correctly) and find it easy living on the basics. Our children want for nothing, no debt, and a good lifestyle. So many folks need "things" to be happy.
Why have so many children? I never understand that, even if you can afford it. Why would anyone subject themselves to so much stress, put their body through so much and push out so many children? Can one person love pain, losing their personal time, and always preoccupied with caring for children that much? What if the husband leaves? Why put your body through all that for a man? Sorry but you're never going to get a girl so don't try again. Just adopt if you want one that bad. Don't know if that's why you kept on trying but that's your business. Sorry that's your reality. Take care.
My father has 10 siblings and it's an awesome family. 10 boys must be crazy and wonderful. I had all girls, it's been very special to watch my grandsons grow up. They have a special place in my heart. Go you !
food is the only thing I will splurge on. quality matters. doesn't matter how large your bank account is if you're not feeling well living off cheap food. you don't necessarily have to shop at high price select stores; costco has a lot of quality products, so does trader joes.
Another GREAT Video! I now shop at ALDI because of you and what you stated in a previous video! It has saved me in a very big way! Blessings to you for always being a blessing to others!
This is really helpful and clear, thank you. We never got taught this at school and although it seems obvious it can get confusing working this out yourself, ie whilst job hunting I have to work out the net salary to see whether I could afford to live on it. One issue I'm facing is salaries here being v low whilst rent has increased a lot, it's been making me feel extremely stressed. I'm going to figure out a way forward with this, thank you.
Cant afford to buy a house so i rent i get $565 aud from the government per fortnight i own a 30yr old car i dont have the latest phone nor do i have the want for one so what fiat money i have spare after expenses i bought 3 ounces of gold and 21 ounces of silver
@@Observer100-cn7gv Creo que te habrás tomado la molestia de copiar y pegar esto en un traductor y ahora podrás acostumbrarte al hecho de que acabo de reclamar un minuto entero de tu vida.
buy/rent a house in cheaper, remote area means more gasoline too move around, so the car will be more expensive. that leads too spent more time and energie and cost you more food and drinks.
it's such a simple concept, yet, so many people don't get it and fall into debt. Well, you can't be an American without something financially stupid I guess
I'm glad! I've been slowing down a bit with output so I can get a break (2 videos for 2 years was a lot), but might increase output in the coming weeks slightly!!
I'm taking back everything I said below. It's not going to do any good to live below your means anymore. I just learned, there is a bill in congress that will tax not only your paycheck but your checking account, your savings account, your retirement fund, your house, your car, EVERYTHING you own will be taxed. It's called a wealth tax and it's not for the rich only, it's for EVERYONE. This will virtually make private property a thing of the past because we will not be able to afford it. We can't afford this country anymore.
Do you think it’s a good idea to transfer money from a tax sheltered annuity to an index fund considering the taxes one might pay compared to the dividends?
Stop eating out, stop supporting companies that price gouge, stay away from convenience stores. As consumers we can force change if we refuse to pay exorbitant prices.
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