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.
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!
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. 🙏
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, 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.
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.
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.
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)
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.
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
@@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. 😉
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!
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.
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 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'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
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 😇😇😇😇
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!
*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'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 TH-cam!!!!!!! THANK YOU GRAHAM!!!!!!
@@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
This is the first time I heard to save 3-6months before paying off debt and I needed this. I’ve been trying to do the Dave Ramsey plan of save 1,000 then pay off debt but I always end up back on the same boat when an emergency happens. I’m going to try this way of paying off debt. Love the information
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 TH-cam algorithm
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’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!
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!
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.
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.
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 TH-cam 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!
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
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.
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
@@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
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.
This video might be from 2019 but still very usefull to those who havent spend much thought on money managment. Quality content. I hope everyone is doing ok and saving & investing
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
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 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.
Thanks for all the knowledge that you give away for free through TH-cam, 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.
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.
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.
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.
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!👍
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
1) Track your expenses and budget 2) Create an emergency fund 3) Employer Retirement Matching 4) Pay off high interest rate debt 5) Invest Back in yourself; Education 6) Invest in a Roth IRA 7) Invest in Taxable Accounts
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.
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, you’re the only person that talks about money that doesn’t feel scammy. Thank you.
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.
Andrei jikh is also amazing. I’m pretty sure he’s actually friends with graham
True.
I have taken his advice for the last few months and it’s all working
😮😮😮wow que sorpresasaa yo te digo desde hace 2 años y aprendí mucho por ti
Graham: I have 1 years worth of living expenses saved up.
Graham's savings: $19.39
This made me laugh out loud 😂😂
That's not even half a year's iced coffee!
lmaoooooo
LOL
You could buy 6 avocado toasts with that
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.
Define comfortable? Which state are you in and income
Why do you keep this a secrete?
@@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!
@@Godisknockingx thank you for your wisdom.
Would love a vid for internationals as Roth IRA Ans 401(k) is an American thing
I quit Marlboros and Red Bull and have an extra $400 left over at the end of the month. If you smoke, stop.
Nice!!
Well played, man
I quit smoking and now spend all that money on Juul pods lol
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.
Yea but then I need bail money because I would commit murder
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 stranger is proud of you
Make that 2
@@rebel7867 Me three!
Honestly, good for you man. I hope to start turning my life around as well and get to a solid emergency fund. Keep going!
Nice man
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
Thanks so much!! 🙌🏼
I need more people in my life who think like you!
Yeah, it's about having comfort now or in the future. Both is difficult to achieve.
Yeah just started only eating out one day on the weekend and saving crazy money
I do this, & lost a majority of friends lol
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
That’s amazing!!! Well done!!
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.
Cyn Rose don't forget to invest in yourself! Education....is key. Congrats, BTW! ❤️
Congrats!!!
good for you! that awesome! graham helped me w so many things as well -- is a huge motivator for me to continue to be ambitious and financially smart
Recently had a $2,000 emergency come up, having an emergency fund is absolutely amazing.
Funny how once you have one, you seemingly stop having 'emergencies'. Then they're just inconveniences, nothing more.
Id generally keep 5 years of living expenses in cash
@@_Wai_Wai_ That's insane. That money could be put to better use investing...
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.
Nice! They should really teach this kinda stuff in high schools
Thank you!
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.
Cut back on the tuition, you don’t need it.
Mingze Hong definitely not avocado toast
Maybe you've a income problema
Cut back on rent. Live in your car. All the cool kids are doing it.
Your tuition is a little high 💀
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.
🙌🏼
Great advice to people who needs it. And congrats on your successes.
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!
Just found out my school system is starting to teach financial management as a mandatory course to Grade 10’s next year... I just finished Grade 10...
literally on the right channel :)
F
Eh ya don’t wanna learn from them anyway
Those teachers are just as clueless
their financial management classes is gonna be "apply for scholarships so you only take out 50k in student loans instead of 60k"
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)
#3 is Employer Retirement Matching
@@littleeyes540 dont pay tax on your businesses
*I literally click all of the ads on your videos to help you make more money, it's the least I could do with all of the value that you give!*
ADVERTISERS HATE HIM ;)
*Haha oops!*
That's how you make that money online 🤑
@@makemoneyonline6955 haha get that youtube ad revenue!
Nooooiice
Thank you, I quit hookers and now I have over 3k leftover a month.
kevinszhere1 only 3k?
Well now I go to the strip clubs
kevinszhere1 Wrong decision. You are supposed to cut back on unnecessary expenses, not the necessities
kshitiz06 you’re right, back to the hookers and skip the food
kevinszhere1 wait aren’t the hookers the food?
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.
Because of you Graham, I opened a Vanguard Roth IRA last year at 25 years old.
AMAZING!! CONGRATS!
Same here! It felt like I would disappoint Graham the teacher if I didnt 🤑
A Roth IRA is a supremely powerful account!
I'm aware that if you make too much income, you can't one open. So, in your case, was their a minimum amount need to open your account or no?
@@safirestarlite I don't believe there is a minimum(only need some sort of income), only a maximum income bracket
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
"I've tried everything!"
Narrator: He tried nothing
😬
@@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. 😉
“$20 a day. $10 for food, $10 for weed” - Nipsey Hussle
Real one
yurrrrrp!
Yeah but we been playing for long enough guysss lol 😂
And let’s not smoke the whole gram in one day. BOOM!!! Deduction!!! Your welcome 😂
@@devonjohnson475 do u know how little a gram is?
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!
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.
How to manage your money like the 1%: Spend it on Graham’s Merch
Thank of how much EPIC SHIT you can do with that merch!
Graham Stephan only a fet man would do that
Haha this is gold
😂😂😂
Lol
I make sure to come back to this video every year to refresh goals and see where I'm at versus the same time last year! Great video
I like the last part.
Reduced unnecessary spending . I got rid of my girlfriend problem solved
Hahaha true
I'm staying single for life. But you don't have to, just get a gf who is cheap.
But your budget for hookers is now out of control
Lmfao
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 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
that's awesome!
Smart plan. Added benefit: if you don't like the place you just move.
haha. great!
Thinking about living in my hatchback for a while too... the challenge is (are) my 2 cats...
@@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'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
You're going places kid!
@@ttraderjim definitely not wasting this opportunity!
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 😇😇😇😇
Rot IRA?
Roth IRA
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!
Agreed!
Great Advice!!!! I always looked at two things.
1. Make more this month than the month before
2. Spend less than is coming in
It’s worked real well!!!
*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
Dude, with the amount of bs these “financial gurus” give, I’ve got mad respect with the amount of practical knowledge you give to us viewers.
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 TH-cam!!!!!!! THANK YOU GRAHAM!!!!!!
When you invest, you're buying a day you don't have to work
Assets that can make you rich
Bitcoin
Stocks
Real estate
@@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
@@andersonwhiteman751 It's not ignorance but due to some unprofessional broker in the market
Bitcoin is the most profitable investment online of only you trade with the help of a professional expert
@Ning Yen Same here, I wish I knew about this Bitcoin trading earlier, brace up and get yourself some Bitcoin before it's too late
You should create a Podcast. You’ve helped me so much with the videos, I would binge that podcast like crazy!!
Anneliese Gerth he has one
@@noahnewman6238 what's it called??
@@brandonknable7890 ice coffee hour
This is the first time I heard to save 3-6months before paying off debt and I needed this. I’ve been trying to do the Dave Ramsey plan of save 1,000 then pay off debt but I always end up back on the same boat when an emergency happens. I’m going to try this way of paying off debt. Love the information
@♜Graham Stephan yup subscribed and hit the notification button 🙌🏽
Research says smashing the "LIKE" button instantly puts you in the 1%. i don't make the rules
Warren Buffet said this, and it's absolutely true.
I wish you did make them tho
Its science.
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 TH-cam algorithm
you're smart! keep at it!! you're going places in life.
I was mortified of money because I was never taught how to use it properly. Thank you for making it seem possible & not making me feel lazy/stupid.
I'm starting a second job next week to increase my savings.
You go brother!
Job=just over broke
More job, less time to invest.. Eventually get a job with result payment not hour payment.. 😉
Be careful you still have time to shop cook and clean for yourself
Ash Ketchup Lecco in northern Italy.
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
*cries in 26.99% interest credit card*
Marlon Gutierrez it shouldn’t matter how much the interest is because you shouldn’t buy anything you don’t have the money for.
Wow!
dude wtf??
Laughs in paying everything off immediately and taking my cash back money
Intrest rate shouldn’t matter
Having a kid really makes you look for ways to find money. It's a great motivater.
i just paid off my credit card never again.
FlacoDRTV credit cards are great just don’t use them to buy something that u don’t have the cash to pay it off with very quick access too
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!
nice
congrats man. I'll be in a similar boat soon after uni
Also 25 and moving back after getting a higher paying job. I plan to travel a lot in 2022 can’t wait!
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!
Do you ever like think to yourself, that Graham is the best youtuber alive?
Yup everyday
Graham is tho
All time time man!
Graham is a beast!!!
Graham is the best ytuber doe
Did I get up from my family dinner to watch this video? Yes. Do I have any regrets? No.
Micaiah Chacon I hope you were having avocado toast
N WB don’t know about him I just ordered slime nice freeesh avocado toast
drama queen.
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.
How are you doing now? This is the most fundamental step.
Still hanging in there
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 make my avocado toast instead of buying from a restaurant! Just like the 1%
😂
I think almond butter toast is more sustaining.
pinkorganichorse hell yeah
@@pinkorganichorse itsaproteinyouareright
Love that this is similar to the D. R. baby steps, but for younger, real-world people! Great Video!
Nice try Graham, the real secret is spending %100 of your income on scratchers
EXPOSED
😂😂
Bound to win something lol
Eventually it’ll pay off. Simple math
That's why when I win I use the winnings to buy more scratchies. Compounding winnings will have me financially free within a month
I always laugh at how smoothly he puts the like button part in.
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 TH-cam 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!
Ah thanks so much!! Happy it’s helpful!
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
Hahahaha when I'm 60 years old, I'm for sure wrapping a Rolls Royce Cullinan and making TH-cam videos
@@GrahamStephan Let's schedule that Collab video... I'm a heading towards the same goal... Zachary you're in? I know you're a car guy too...
Emergency fund causes an emergency to be merely an inconvenience. Well worth it
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.
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
I appreciate this video
This is exactly what I need as motivation
When you invest you're buying a day you don't have to work
Assets that can make you rich
Bitcoin
Stocks
Real estate
@@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
I recently got into forex trading and am already marveling over the profit am making
So pretty much spend all your money investing. Got it!
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.
happy it's helpful!
Thank you Graham! Much needed to bring me back on track!
🙌🏼
This video might be from 2019 but still very usefull to those who havent spend much thought on money managment.
Quality content.
I hope everyone is doing ok and saving & investing
Looking forward to that BiggerPockets podcast!
I'm told it'll be out Thursday - but I'll keep you posted!
Good deal man. Appreciate it!
@@jjbuckner :-) I'm just hearing Graham will be on BP.
good to know! thanks!
@@BrentInvesting i see you on the jazz channel all the time. :)
Tries to explain how the 1% manage their money.
Tells you to pay into your employer's 401k.
Or a SEP 401K
But the 1% aren’t employees.. 🤔
@@Jgom42 Well, a part from those who inherit, most of the 1% START as employees.
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
Personal update: I have one year of budgeting, and it helped me spend money guilt free! This is a great advice, I'm on my way to a happy life :)
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.
This guy gets it
Graham Stephan haha yes
🥑
I'm watching this at work instead of actually working lol
Haha enjoy!
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.
Best financial channel on the tube 🔥
Ah thanks man!
For sure
I thought we were friends
One of the best for sure
Look up Dave Ramsey
Thanks for all the knowledge that you give away for free through TH-cam, 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.
It’s mind blowing how personal finance is so basic yet so many people struggle with it so much.
My econ class in high school had me go through one of dave ramseys courses instead of learning actual econ.
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.
Started this year. Just turned 20, have no dept, have a emergency fund and I have 3000 euro in investments. So glad that I found this guy in January 😉
So many people aren't living below their means :/
I see so many people spend their whole paycheck that day and survive off 10-50$ the rest of the week
Oh well for them then. Sometimes you just can't fix stupid.
A Minority Mindset reference?
Investing Book Summaries I tried to explain this to people on another channel and it felt like pouring gas on a fire.
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.
I know exactly how to increase my monthly income, “Side hustles” 👀😉
I started using YNAB for tracking my expenses over the past year and it's been a game changer! Thank you for all your advice!
Roses are red, avocado toast is green (and brown, I guess), Graham’s channel is one of the best I’ve seen!
Thanks!! 🙌🏼
Lolll
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.
This video pushed my mental financial stability to a whole other level.
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.
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!👍
Yeah! Graham is a value machine
Value is grahams middle name
Value is what graham does
Glad someone is really trying to teach us the youth on how to get money and KEEP the money
Graham when u hit 1 million subs im gonna send you a 1 year supply of avocados. The toast is on you
Hahaha deal 😂
Did you ever send the avocados
@@gegeunique8257 i asked for a dot to send and no response
I love how you randomly throw in "smash that like button" lol
;)
I'm obsessed with making $ because of Graham. I'm working on 19c iced coffee to Save the 1c.
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!
Canadian finance is just Molson and moose antlers
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
13:37 Step #1: Hit that like button
Missed opportunity
hahah I SHOULD'VE !!!!
1) Track your expenses and budget
2) Create an emergency fund
3) Employer Retirement Matching
4) Pay off high interest rate debt
5) Invest Back in yourself; Education
6) Invest in a Roth IRA
7) Invest in Taxable Accounts
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! 🚀🚀🚀
I smashed that like button just like the 1% 👍👍👍
THANK YOU! FOR THE ALGORITHM!
Graham Stephan always ! You deserve it 🙏
you literally explained my financial life in a video step by step !! das crazy
1:10 button smashed
If you are in spain and you can't use mint Fintonic is similar.
I recommend a book to all you guys called The Richest man in Babylon by George S Clason... btw great content.
Such a good read!
Jonathan Nava screw 10%, 20% of all I make is mine to keep.
Jonathan Nava excellent
Agreed!
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.
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)
@@tortolito56 US universities are like $5000 a semester full time schooling. had a friends sister drop out because it was too expensive.
Stop buying avocado toast simple as that 🤷🏻♂️😂
Buy bitconnect instead
@@GrahamStephan Do you own any shares of Tencents?
I just made a budget, thus I am now in the 1%. That's crazy, I never thought this would happen!! Thank you!!!
Awesome!! ;)
I officially subscribed. If you live in L A maybe we can meet over water with lemons...
Water AND lemons?!
I’m pretty sure lemons have some water in them so maybe u can save the price of the water ;)
totally a graham stephan proposal :)