I think learning how to cook at home and actually make delicious food is the easiest way to start saving money quickly. For all who are intimidated by that, I have found Chef John's youtube videos (Food Wishes) to be the most approachable and educational in my journey to learn how to stop sucking at cooking. I also think Adam Ragusea's channel is a good place to start as well for cooking lessons. I never cooked a meal until I was about 21 years old and now at 24 I love to cook and eat restaurant quality meals for 1/10th the price at home.
@@ThomasJamesMcNamara 😂 That's mostly subtle marketing - people see Warren Buffett is in McDonald's and drinking Coke but don't get *why* he's seen doing this
This dude also has the income that is above his expense so yeah he can do a lot. His biggest advantage will continue to be his income more likely than not. I have made 8$, 10$, 12$, and about 13 - 14$ and guess what 14$ an hour was by far the most easy!!!!
Ross Campoli - Leadership & Business Videos yea frugality is huge!! I saved 9k off 19k income my first year in LA. I managed to live super cheap and never making more than 40k saved 100k in just over 5 years.
This is great advice. My girlfriend got me into major frugality and its changed my life in the last 6 years. she's been a life saver. We earn around £28,000 (maybe $37k US?) between us as freelance musicians and a few other things, but we save around 85% of our income and we love our life. Do not spend a single penny on ANYTHING unless it genuinely adds value to your life. We've travelled every year, 6 months of the year all around Europe in our (fully paid off, £5,000) camper-van because that adds value to our lives. We dont have any subscriptions aside from mobile wifi, we dont pay for a phone, we dont have any debt, we dont dress in fancy clothes, we cook every meal whenever we're at home (I love to cook) People make fun or dismiss the idea as either impossible or an enormous sacrifice but it really isn't at all, I have and do everything I want in life And finding you tubers like you who support this idea has been great. Really motivates us to keep on top of things
Moved from NYC to Dallas,TX saved so much just off the top from cost of living. Price of rent is cut in half, gas is cheaper, my job pays the same rate, and no state income tax in Texas.
It's my very first youtube comment ever, but I want to thank you for everything you do for us. You're one of the most genuine person I've seen actually trying to improve the lives of your viewers.
My car is paid off, an ‘05 Nissan. I live rent free, because I’ve chosen to take advantage of my parents kindness. And I eat varied, nutritious, yet inexpensive diet (home made salads). I mentioned this to an older co-worker. She’s 45 I was 28..... she straight up laughed at me for it. “Haha you’re car is an ‘05 POS, and how can you respect yourself at home with family”. I have pretty thick skin but for some reason on that specific day it got me. Your videos really help me to keep going and confirm that I’m doing the right things!! Thanks to my lifestyle I have been able to save 82.8% of my income. I really don’t make a lot, and below the average American wage at the moment… But I really been able to maximize it in savings!! I don’t say this to brag but I probably have more cash in my savings account then she’s ever had…
You two have great chemistry! She obviously has a positive affect on you. You look so much happier in this video. Going to college is a great backup plan. Most people don’t know what they want to do with their life. I will happily help pay for my kids education as long as they put the effort in. If they choose something other than school I’m open to listen. However some professions need education.. doctors , engineers etc. I agree .. Pick a partner that has similar finance habits and one that you can resolve differences not so much how much you agree with each other. Great channel. Keep up the good work.
I'm 38 now, wish I had learned more about personal finance management and control years ago. I'm 100% behind your comment about defeating ourselves, getting past the fear and conquering all of the things about "self" that hold us back from truly living. Whether in finances or enjoyment of activities, the ego is the enemy.
Khan Pop Giveaway Why hate him? I see absolutely no reason to spend more just because you make more. If you are content with having very little, you will feel much less stress in your life and will realize that having more does no make you any happier.
Great video and congrats on saving $25k after tax on $49k income. Impressive. I love seeing young people focused on saving and investing. I wish I had the same focus when I was their age. It reminds me somewhat of my grandparent's generation.
economists call that an efficient life. If everyone was saving 50% of their income the economy would be smaller, less investment in things like medicine making it more expensive and we would go to the grave faster.
@@NGE0001 That is some bs, there are many widely varying theories of economics and you don't have to stop and think for long to realise most of what people spend (waste) their income on doesn't improve society one bit.
You are living in that country if u don't even hv that small amount even after years. .5 or 10 maybe. .what u lack is skill. I live in Developing country while your US Dollar is worth thousand times to our currency kyats. ..it's not that hard to get that amount. you could save 20% of ur income at least. if u make 3k to 5 k per month at least. .i think it's not that hard. You should stay low under ur budget till u get hit some high points. Save money n learn high income skills
Perfect! Just watched the ‘lost $10k w/ Dividends’ and was thinking about KEY points she said. And as a single parent of a teenage girl (makeup, clothes, food and private school) saving on less than $30k/yr. is SUPER hard. And no, you really don’t want to house hack when you have your own kiddos to think about (don’t dismiss that concern when the time comes.) I’d love to see you make a video about saving as a single parent with $30k. Major expenses: food, auto, cell and rent (basically one pay check for rent.). I am loving your wisdom and magic!! Keep it coming!!! (AND YES I SMASHED THE LIKE BUTTON!) 👍 and I subscribe! Thank you! 😁
The more people you add to your budget, the harder it gets. I’m sure that private school is especially expensive. I’d focus on paying off debt aggressively and growing my income, if I were you.
If I could save 50% I would be a God hahah. Andrei, you inspired me to start my own TH-cam channel man, and I appreciate that because I'm 19 years old. I go over my growth of my portfolio, my investments apart from the market, etc. If you could provide any feedback/constructive criticism, that would be so helpful. :) Just trying to establish myself in the TH-cam industry. :)
I save about 78% of my income (yeah I'm a FIRE starter) but I had to make some drastic changes to do so. I got so fed up with corporate america and wanting to get out, I actually sold my home and paid cash for a smaller home. Best financial decision I ever made. I'm debt free including mortgage and own 2 rental properties and moving to another country at the end of 2020 and have my 25x FI money saved up.....woohoo. I still work but the end of 2020 I will finally be quitting my job. I am so pumped up about FIRE that I wish I could just get people to understand how life changing this concept is. It is not an original concept, our grandparents from the depression era have always said live below your means, stay out of debt and save your money. We just need to get back to that. Anyway thanks for the tips,
i totally agree FIRE is the way to go ,,,, you have done very well what age will you retire ? im on track for 55 yo , even sooner if I get a redundancy payout ….cheers
@@TheDino888 I am actually 55 myself. I only found out about the FIRE movement a few years ago. At that point, I was already partly there. I just needed to make a few tweaks to get me to the finish line. Had I not discovered FIRE, I would of just been doing what I had been doing for the last 20 years or so which was to simply save the standard 15-20% which I did. It never once occur to me to save 50% or more. Basically I was on track to retire the traditional retirement age. For the most part I had always been a saver, so if I had discovered this in my twenties, I 100% sure, I would of been FIRED by my 30's. I had the mindset for FIRE in my 20's I just didn't know about it but then again, I don't think TH-cam was around back then.......lol. When most people think of early retirement they think of people who are younger and retiring in their 30,s and 40's. However there are a older people who can also take advantage of the principles of FIRE. It certainly has change the trajectory of my life. It's little scary but I'm ready. Besides I'm little closer to social security than most.....lol. Given how things are now, I'm starting to wonder if someone of my age will even see social security. So for people who are older, don't think FIRE is for people who are younger, I personally believe it's for anyone who wants to pursue it no matter the age.
@@yavenay very well said ,,, I guess im the same in a way ,,, im a born saver always have been but I never knew about FIRE until I come across in on youtube , now I can watch and learn for free hehehe,,, its exciting not keeping up with the jones and im spending my money they way I like ,, holidays and experiances , not on consumer items that take up time to look after , keep clean , and store ….less items = more time to do what you like to do . FIRE im happy I found it , im working on saving up 25 X my annual spending = 4% rule ,,, not to far away from it now ...
You guys are perfect would love to see more videos together. And props for to Corrie for being so brave on sharing her financial information, not many people can do that
I need to work on eating out less. Once I pay off my car next month it’s gonna be $37/month for insurance. My mortgage is $400 for my part. Internet is $40/month. I am good to go for saving 50% of my income!
When I first got our college and I got my first job. I had 38K of student loans debt. It was my absolute top priority to eliminate it as fast possible. Managed to do it in 15 months. I’ve had ups and downs trying to save that aggressively. Sometimes I just want to go on a nice vacation. But I can do it when I set my mind to it. I’m trying to do with investing but I doubt I can sustain that aggressive saving for long term for me. But I’ll certainly keep at it.
I found marginal changes to be a good way to go. I started contributing 6% to my 401k while investing the odd $20 here and there to either my emergency fund or roth. A couple months later, I raised my contribution to 7% while investing the odd $25 to a roth or emergency fund. I just kept repeating the pattern until I hit a much much higher contribution rate while fully funding the Roth. This pattern let's you gradually make life changes. It's a lot easier than going cold turkey on your spending habits.
If I had it to do again, and I was young and starting out - I would hit the thrift stores for apartment furnishings/kitchen stuff/books/clothes, etc. You can save SOOO much money and get some very good stuff. But you have to take the time and look in the stores.
Your girlfriend was made for youtube. She's got such a great personality and sense of humor! I love it, I hope you guys continue making videos together.
I'm 24, living in NJ, I'm still living at home and I have a pretty good job, making about $400 a week. I'm saving up to buy a franchise and I'd like to do so before moving out to make sure that I never have to come back. Saving 50% of my income would be an amazing start and This video helped! Thank you!!
@@AndreiJikh So true man, I've been preaching this for a while! Earning more is much more doable and helpful in the long run, than cutting out an overpriced coffee
@@AndreiJikh as someone who does financial advising for a living, I'm going to heavily disagree with you. Most people bleed money over small things which is precisely why they feel like the cost of living is insane. I'm sure you haven't been shown, but people on average spend $650 a month on alcohol, they go out to eat very often because they don't know how to cook, and they buy coffee on a daily basis. Sure you can tell someone to uproot themselves from their friends and family to move somewhere cheaper to live and earn around the same maybe a little less to save more, but few people are likely to do that.
I managed to do exactly the same thing last year! Luckily for me I learned to prioritise this early enough in life to take advantage of the fact that I am young and have less expenses than someone later in life. I say this on basically every video, but thank you for being an inspiration for this kind of thinking for me!
Lol All jokes aside, my parents literally told my siblings and I that if we didn't go to college we have to move out. I would have loved to stay at home rent free and save up for a couple years but nope! Haha, I'm sure lots of people have similar situations. Food for thought 😁
I used to save like this, and it helped me save for investments later on. Though I have noticed one should focus more on earning more and than investing instead of just focusing on the savings. Thank you btw your videos are very helpful
Hello! I don’t think saving half our income would be possible, but still good tips. We have a family of six on one income. Daycare is expensive and we’d rather have one of us with our children than make the extra money we would make after taking into account daycare, cost of a second work wardrobe, cost of extra gas... the extra money $10000 isn’t worth giving to that time with the kids. We did great in our housing. We bought a smaller house and have paid out off. So no mortgage or rent anymore! I think a more realistic goal for our family would be 1/5 - 1/6 of our income saved. We haven’t been able to do this yet, but I’m really trying to be very intentional with our purchases this year. Though I think we will need to buy a new vehicle. We have two, both are old (2003 and 2004). And our family SUV probably Wei need replaced this year, even older secondhand vehicles that have enough seats for our family are expensive. But making the choice to have four children was obviously a choice to have less “extra” income. But 1/4 of our income would be great if we could find a way to budget that. We wouldn’t be at a six digit savings for quite awhile though. But we haven’t lived pay check to pay check in many years at least!
I talked about the benefits of a Roth IRA in my latest video demonstrating how a 20 year old can invest $9/Day until 65 to become a tax free millionaire!
@@DividendGrowthInvesting That makes sense initially but even if you plan to FIRE you can still consider the Roth accounts and HSA as backloaded funds you can use to sustain yourself once you hit 59.5. If you FIRE at 30 then that's an additional 29.5 years you have to let your investments grow, which you can account for in advance or not account for as part of your SWR.
Almost one million subscriber.. Maybe next month you will reach 1 million..just happy celebrate for your channel.. Keep inspiring.. I watch all your videos.. Say hai from indonesia..
So beautiful watching the pair of you, nice to see people genuine happy, hope you have a great time together and save smart so you can live your best life 💕✨
The importance of college is questionable when it comes to making a decent salary! I've been thinking about my past experience on this a lot and how useless it was for me lol.
I mean nowadays yea absolutely, it's crazy how much less valuable a degree is. Makes sense though when we're pumping out tens of thousands of students every single year! Did you ever end up using your degree for anything?
@@AndreiJikh Nope... I got my associates degree, and then realized I was just going for a piece of paper (trying to major in business) and that it wouldn't really help me. Got my real estate license a short time later, and never looked back!
Andrei & Corrie Children do cost money but having and raising kids is one expense you must never shy away from. Bringing up the new generation is your duty to humanity.
I liked your comment regarding expensive cities. Think about doing an entire video on that. I know over a dozen people here in Ohio who own homes despite only having typical restaurant or truck driving jobs. Columbus is somewhat expensive now but Cleveland and Cincinnati are not. You can still buy a move-in ready house here for $110-120k, which only requires $5,000 down with an FHA loan.
5 years later..... on Dave Ramsey show... My wife didn’t tell me about 2 million dollar debt 😭j/k. Ramsey: “rice and beans, beans and rice 😂” Jokes aside. Looks like you guys look happy congrats :)
maybe you should date different types of people.......the kids part..If you have teenage boys, your food budget will go up exponentially-you will go broke
Bruh, You hit the nail on the head. I truly believe that the vast majority of young people today are spending WAY to much money on things such as Food, Streaming Services, Travel, etc. The boomers came back from war, went directly to work, and simply brought their money home and saved it, because besides the one family vacation a year, what else was there to do? You went to your kids baseball game, and bbq'd on the weekend. Now of days everything is thrown at us, between $1,000+ cell phones to $3,000 TV's. Great video, adding it to my list for others to watch in order to truly understand that they can survive with sacrifices. God Bless, TJ
you are one of the most helpful TH-camrs I have watched. Being an immigrant myself and coming from a different culture where money is viewed differently, videos like these are a source of information treasure. I can't thank you enough!
I'm close to the end of the video and I want to tell you that you're awesome bro! Thank you for sharing your story with us and for the education you provide. I'm glad I found you.
Lots of people are struggling and the reason varies. For some it's increased cost of living in their area, for others it's living beyond their means (complains of never having any money but buys the new iPhone every year), but in many cases it's because real wages haven't increased for decades. In the UK since the late 70's inflation has sky rocketed but wages haven't. Most ordinary jobs pay barely more than they did 20 years ago; my mum worked in Marks & Spencers (a good quality department store in the UK). The same job now pays an extra £3000 but based on inflation it should pay £6900 more. Over time everyone is slowly being screwed by corporate greed so the money is stacking up at the top of the system.
The Focus made me laugh. I have a 2001 Chevy/Geo Tracker, that was totalled. I bought it back from the insurance company, ordered some parts and rebuilt it in my dad's driveway. Lasted a while, but nolonger economical to repair.
I’ve been watching you for awhile but I just subscribed today. There are many financial people I watch but I like your style - I like the magic and intros are funny and entertaining. Keep it up!
Its a good thing to save money but its better to invest because by Investing you have the potential of higher returns as compared to a savings account. Investing will help you make more money whereas saving will keep the money safe giving a little return
It is possible to earn extra income by investing in quality investments. the return on your investments might be used as a source of regular extra income for day-to-day living. Or you might choose to reinvest the money to further grow (or compound) your wealth.
Louis Regan Stock, Real Estate, Forex and Bond.. this are list of assets my portfolio manager invest my money in. with his help i have always received a 70% profit off my investments on a monthly basis and i make most of my profits from Stock trading
While there is no minimum order limit on the purchase of a publicly-traded company's stock, it's advisabIe to buy blocks of stock with a minimum value of $10000 and above. This is because no matter what onIine or offline service an investor uses to purchase stock, there are brokerage fees and commissions on the trade
Love those savong money tops Andrei, money is spent too easy these days. Don't spend more than you earn and start investing early! Key factors that will benefit you in the future!
Good job guys!. I am 56 years old own 10 rental properties with a mortgage only on 1. I now save 100% of my income after taxes. My wife of 28 years manages the properties!
I don't have a savings account. My money in stocks and crypto currency. Savings account interest is .05% vs my tech stocks is up 200% 📈 thanks to channels like this 🤑
Thanks I appreciate your videos. For myself I started my 1st year making 52k and couple years down the line making 64k now. I truly believe in saving. Currently, I save approx. 22% pre-tax and using your videos to fund my various income source accounts.
50% Savings rate at that income level is fantastic. Congratulations! My wife and I spent ~$26,000 annual (all bills) the last 6 years we were working in Houston, before we achieved FIRE. We averaged ~69% savings rate of our gross income over the last 9 years of our FIRE journey.
Woah good job! 69% is incredible, that will definitely get you there in less than 10 years, congrats! I'd love to FIRE in the next 10 years, going to continue trying my best :)
@Weed Savages how incredibly hateful of you. The man literally said he wants to get out because of high taxes. I think people forget that California has a huge Republican population. People like you are filled with so much hate that y'all completely overlook that.
Being a California native myself,earning 40k in southern California I can say its hard if you make it hard for yourself. I have a bachelor's degree, graduated with ZERO debt and have been fully maximizing my Roth OR A and contributing to my 401k up to my employer match. I don't go out to eat at fast food places or restaurants. Skip all the happy hours,clubs, netlix etc. Stay home if I don't have to go out. Only spend on the basic nessecities. Like others here have mentioned it is all about delaying instant gratification. The only things I don't hesitate splurge once in a while are on needs that I choose to be wants. An example is I needed a new mattress, I did my research on the best types of mattresses the I purchased a pure latex mattress costing several thousand dollars. shoes are a necdszity, in will be needing new sneakers soon so I Will be purchasing some Gucci sneakers. Everything else I save/ invest
Ive been watching a lot of investing/wealth building videos recently and his seem the most authentic and honest. This discussion laying out their real world lifestyle and not trying to sell some glamorous illusion is amazing. Thanks for all the great info and inspiration.
The partner part is the most important thing in my opinion. Only if your partner supports you in your frugal ways can you save a large portion of your income
The honesty in this video and many of your others keep me glued to your channel. Keep on trucking. Routing for your goals to come true while I work on mines !!!
its a cultural shock as an indian, when americans say they cook at home like its something unique. Indians do that anyway, doesnt even matter if youre rich or poor.
Do you have any saving tips for Corrie and I that we didn't mention? 😃
I also met my wife on tinder! It's so great to see her in more and more of your videos!
I think learning how to cook at home and actually make delicious food is the easiest way to start saving money quickly. For all who are intimidated by that, I have found Chef John's youtube videos (Food Wishes) to be the most approachable and educational in my journey to learn how to stop sucking at cooking.
I also think Adam Ragusea's channel is a good place to start as well for cooking lessons.
I never cooked a meal until I was about 21 years old and now at 24 I love to cook and eat restaurant quality meals for 1/10th the price at home.
Dont have kids - Saving with infants is nearly impossible. The cost is really astronomical even doing it "cheap" and even with higher incomes
Save before you spend,in a hard access assets, myself use bonds, going to stocks soon, gold is a perfect option.
Go Keto and do Alternate day fasting that will save you alot in food costs.
*"If you buy things you don't need, you will soon sell things you need"*
Warren Buffett
As he buys Coke A Cola out the ass lollll
@@ThomasJamesMcNamara 😂 That's mostly subtle marketing - people see Warren Buffett is in McDonald's and drinking Coke but don't get *why* he's seen doing this
I am going to start selling what I don't need. .
That's not how the saying goes
@@ThomasJamesMcNamara one could argue coca cola is a need -.^
Dudes got it all. The channel, the integrity, the money and the woman. Well done bro. You’re doing life !
I use the mobil hotspot on my phone for internet. Wha whaat
This dude also has the income that is above his expense so yeah he can do a lot. His biggest advantage will continue to be his income more likely than not. I have made 8$, 10$, 12$, and about 13 - 14$ and guess what 14$ an hour was by far the most easy!!!!
Well most every guy has a girl not all that impressive FYI.
Thanks to people like Andrei, Graham, and Dave Ramsey, it seems like more people are understanding the necessity of saving more. Great video, Andrei!
Saving surely helps... but more importantly , invest as well. Peace out.
MC_Prosperity so true!
@@MCprosperity Invest long term in a Roth IRA for tax free returns
Look at @Joseph Carlson
Ross Campoli - Leadership & Business Videos yea frugality is huge!! I saved 9k off 19k income my first year in LA. I managed to live super cheap and never making more than 40k saved 100k in just over 5 years.
This is great advice. My girlfriend got me into major frugality and its changed my life in the last 6 years. she's been a life saver. We earn around £28,000 (maybe $37k US?) between us as freelance musicians and a few other things, but we save around 85% of our income and we love our life. Do not spend a single penny on ANYTHING unless it genuinely adds value to your life. We've travelled every year, 6 months of the year all around Europe in our (fully paid off, £5,000) camper-van because that adds value to our lives. We dont have any subscriptions aside from mobile wifi, we dont pay for a phone, we dont have any debt, we dont dress in fancy clothes, we cook every meal whenever we're at home (I love to cook) People make fun or dismiss the idea as either impossible or an enormous sacrifice but it really isn't at all, I have and do everything I want in life
And finding you tubers like you who support this idea has been great. Really motivates us to keep on top of things
Moved from NYC to Dallas,TX saved so much just off the top from cost of living. Price of rent is cut in half, gas is cheaper, my job pays the same rate, and no state income tax in Texas.
Don't vote democrat okay?
Keep Texas a red state. That's why it's still a great place to live.
@@I_like_turtles_67 never Democrat!! Red all the way down the ballot
Dan Lyons 😊
Smart move,Oliver
Get out of texas
It's my very first youtube comment ever, but I want to thank you for everything you do for us. You're one of the most genuine person I've seen actually trying to improve the lives of your viewers.
thanks Ethan, I really appreciate that :)
Yeahhhhh I think you’re spot on Andrei. Saving a large percentage of your income and delaying that gratification is so important to getting ahead.
Agreed! So important! Savings now, is fun later
I liked having Corrie in the video. It was a great balance and dialogue!
Pro tip: if you stay single from November to February 15th you can save on food and gifts.
Pro tip confirmed
My car is paid off, an ‘05 Nissan. I live rent free, because I’ve chosen to take advantage of my parents kindness. And I eat varied, nutritious, yet inexpensive diet (home made salads). I mentioned this to an older co-worker. She’s 45 I was 28..... she straight up laughed at me for it. “Haha you’re car is an ‘05 POS, and how can you respect yourself at home with family”. I have pretty thick skin but for some reason on that specific day it got me. Your videos really help me to keep going and confirm that I’m doing the right things!! Thanks to my lifestyle I have been able to save 82.8% of my income. I really don’t make a lot, and below the average American wage at the moment… But I really been able to maximize it in savings!! I don’t say this to brag but I probably have more cash in my savings account then she’s ever had…
Did corrie work at McDonald’s 7ish years ago? I think I worked with her lmao!
Yes she did!! Wow what a small world!
PS: Are you asian? 😅
Andrei Jikh yes, haha we were managers together.
Johnny oh hey !
Corrie O. This is crazy!!! I’m seeing a reunion happen in real time!!
You two have great chemistry! She obviously has a positive affect on you. You look so much happier in this video.
Going to college is a great backup plan. Most people don’t know what they want to do with their life. I will happily help pay for my kids education as long as they put the effort in. If they choose something other than school I’m open to listen. However some professions need education.. doctors , engineers etc.
I agree .. Pick a partner that has similar finance habits and one that you can resolve differences not so much how much you agree with each other.
Great channel. Keep up the good work.
I had this video in my “Watch Later” playlist to delay gratification!
lol
I'm 38 now, wish I had learned more about personal finance management and control years ago. I'm 100% behind your comment about defeating ourselves, getting past the fear and conquering all of the things about "self" that hold us back from truly living. Whether in finances or enjoyment of activities, the ego is the enemy.
Pay yourself first!
I recommend The Richest Man in Babylon. My favourite book
Yas! Paying yourself first! So important!
Starts talking about her budgeting
*Graham Stephan has entered the chat*
Graham Stephan is cheap as fuck... Andrei is a true example in how to save.
Miguel Floriano BAHAHHA
I think if Graham had 1 trillion dollars, he wouldn’t even spend more than $1000 a month. Ugh, I hate him so much.
if not mistaken because Graham he wants to retire at 30 with 1 million . He has his goal, people have to go toward their goal. :)
Khan Pop Giveaway Why hate him? I see absolutely no reason to spend more just because you make more. If you are content with having very little, you will feel much less stress in your life and will realize that having more does no make you any happier.
"No I don't wan't to do Pacific, ok we'll do Atlantic" I laughed way too hard at this 😂 2:41
LOL I missed that at first. Too funny.
Is she american? I mean born in the US?
he is literally a dad for that
i actually cried laughing at this idek why
literally died laughing from this idek why i did tbh
I'm struggling to keep 20% let alone 50%. None the less it'll take time but definitely learning more everyday. Love the videos
Thanks Anthony, hope you get to 50% soon though :)
Great video and congrats on saving $25k after tax on $49k income. Impressive. I love seeing young people focused on saving and investing. I wish I had the same focus when I was their age. It reminds me somewhat of my grandparent's generation.
I love it how in the US, cooking at home is like some novel thing.
The most underrated comment!
did anyone else crack up at the pacific atlantic joke lmao
Me 😂
🙌🏻
I think saving feels slow and spending feels immediate. That's a lot of "feeling".
Abacus Fitness and Money and only a little thinking 😛
69% of Americans have less than a $1000 in their savings account.
me: nice
?
economists call that an efficient life. If everyone was saving 50% of their income the economy would be smaller, less investment in things like medicine making it more expensive and we would go to the grave faster.
@@NGE0001 That is some bs, there are many widely varying theories of economics and you don't have to stop and think for long to realise most of what people spend (waste) their income on doesn't improve society one bit.
You are living in that country if u don't even hv that small amount even after years. .5 or 10 maybe. .what u lack is skill. I live in Developing country while your US Dollar is worth thousand times to our currency kyats. ..it's not that hard to get that amount. you could save 20% of ur income at least. if u make 3k to 5 k per month at least. .i think it's not that hard. You should stay low under ur budget till u get hit some high points. Save money n learn high income skills
Yes. . i understand u pay high taxes too
Perfect! Just watched the ‘lost $10k w/ Dividends’ and was thinking about KEY points she said. And as a single parent of a teenage girl (makeup, clothes, food and private school) saving on less than $30k/yr. is SUPER hard. And no, you really don’t want to house hack when you have your own kiddos to think about (don’t dismiss that concern when the time comes.) I’d love to see you make a video about saving as a single parent with $30k. Major expenses: food, auto, cell and rent (basically one pay check for rent.). I am loving your wisdom and magic!! Keep it coming!!! (AND YES I SMASHED THE LIKE BUTTON!) 👍 and I subscribe! Thank you! 😁
The more people you add to your budget, the harder it gets. I’m sure that private school is especially expensive. I’d focus on paying off debt aggressively and growing my income, if I were you.
If I could save 50% I would be a God hahah. Andrei, you inspired me to start my own TH-cam channel man, and I appreciate that because I'm 19 years old. I go over my growth of my portfolio, my investments apart from the market, etc. If you could provide any feedback/constructive criticism, that would be so helpful. :) Just trying to establish myself in the TH-cam industry. :)
I save about 78% of my income (yeah I'm a FIRE starter) but I had to make some drastic changes to do so. I got so fed up with corporate america and wanting to get out, I actually sold my home and paid cash for a smaller home. Best financial decision I ever made. I'm debt free including mortgage and own 2 rental properties and moving to another country at the end of 2020 and have my 25x FI money saved up.....woohoo. I still work but the end of 2020 I will finally be quitting my job.
I am so pumped up about FIRE that I wish I could just get people to understand how life changing this concept is. It is not an original concept, our grandparents from the depression era have always said live below your means, stay out of debt and save your money. We just need to get back to that. Anyway thanks for the tips,
i totally agree FIRE is the way to go ,,,, you have done very well what age will you retire ? im on track for 55 yo , even sooner if I get a redundancy payout ….cheers
@@TheDino888 I am actually 55 myself. I only found out about the FIRE movement a few years ago. At that point, I was already partly there. I just needed to make a few tweaks to get me to the finish line. Had I not discovered FIRE, I would of just been doing what I had been doing for the last 20 years or so which was to simply save the standard 15-20% which I did. It never once occur to me to save 50% or more. Basically I was on track to retire the traditional retirement age. For the most part I had always been a saver, so if I had discovered this in my twenties, I 100% sure, I would of been FIRED by my 30's. I had the mindset for FIRE in my 20's I just didn't know about it but then again, I don't think TH-cam was around back then.......lol.
When most people think of early retirement they think of people who are younger and retiring in their 30,s and 40's. However there are a older people who can also take advantage of the principles of FIRE. It certainly has change the trajectory of my life. It's little scary but I'm ready. Besides I'm little closer to social security than most.....lol. Given how things are now, I'm starting to wonder if someone of my age will even see social security.
So for people who are older, don't think FIRE is for people who are younger, I personally believe it's for anyone who wants to pursue it no matter the age.
@@yavenay very well said ,,, I guess im the same in a way ,,, im a born saver always have been but I never knew about FIRE until I come across in on youtube , now I can watch and learn for free hehehe,,, its exciting not keeping up with the jones and im spending my money they way I like ,, holidays and experiances , not on consumer items that take up time to look after , keep clean , and store ….less items = more time to do what you like to do . FIRE im happy I found it , im working on saving up 25 X my annual spending = 4% rule ,,, not to far away from it now ...
@@TheDino888 Hang in there, once you get to the other side, it's a whole new ball game. Just remember.....short term pain for long term gain.
@@yavenay exactly ,,,,, I wish more people find out about FIRE its a life changer
You guys are perfect would love to see more videos together. And props for to Corrie for being so brave on sharing her financial information, not many people can do that
Amazing tips, I want to save 50% of my income but first i need to double my income!
I need to work on eating out less. Once I pay off my car next month it’s gonna be $37/month for insurance. My mortgage is $400 for my part. Internet is $40/month. I am good to go for saving 50% of my income!
You don't want to try and increase you income instead of just save? My savings even at 50% is not equal to my income over time.
Easy. Make 100% more income.
More money wont fix the issue with bad spending habits. Being broke is temporary and being poor is eternal, my friend.
"Alright we'll do Atlantic" got me with that one 😂
"Inability to delay gratification"
- serious truth
Delaying gratification is how I managed to save a LOT.
When I first got our college and I got my first job. I had 38K of student loans debt. It was my absolute top priority to eliminate it as fast possible. Managed to do it in 15 months.
I’ve had ups and downs trying to save that aggressively. Sometimes I just want to go on a nice vacation.
But I can do it when I set my mind to it. I’m trying to do with investing but I doubt I can sustain that aggressive saving for long term for me. But I’ll certainly keep at it.
I found marginal changes to be a good way to go. I started contributing 6% to my 401k while investing the odd $20 here and there to either my emergency fund or roth. A couple months later, I raised my contribution to 7% while investing the odd $25 to a roth or emergency fund.
I just kept repeating the pattern until I hit a much much higher contribution rate while fully funding the Roth.
This pattern let's you gradually make life changes. It's a lot easier than going cold turkey on your spending habits.
If I had it to do again, and I was young and starting out - I would hit the thrift stores for apartment furnishings/kitchen stuff/books/clothes, etc. You can save SOOO much money and get some very good stuff. But you have to take the time and look in the stores.
it's been 15mins and I'll apply everything that I learned here, in my life. Andrei, ur a great teacher!!!
Thanks Krishant! :D
I have created a video on how I was able to save 8k in a year! Check it out on my channel :)
Your girlfriend was made for youtube. She's got such a great personality and sense of humor! I love it, I hope you guys continue making videos together.
That is very impressive video. Well done to Corrie for saving half of her income. It is amazing to find out new ways to save for the future.
Great video! Yeah... I live in Los Angeles County... super expensive, but still possible to save... just need to be creative with spending.
I'm 24, living in NJ, I'm still living at home and I have a pretty good job, making about $400 a week. I'm saving up to buy a franchise and I'd like to do so before moving out to make sure that I never have to come back. Saving 50% of my income would be an amazing start and This video helped! Thank you!!
Most people dont save because they like starbucks coffee too much (according to Graham) lol
Totally but I agree with Corrie, it's better to focus on the wins of increasing income rather than focusing on minimizing losses like starbucks haha
@@AndreiJikh So true man, I've been preaching this for a while! Earning more is much more doable and helpful in the long run, than cutting out an overpriced coffee
@@AndreiJikh as someone who does financial advising for a living, I'm going to heavily disagree with you. Most people bleed money over small things which is precisely why they feel like the cost of living is insane. I'm sure you haven't been shown, but people on average spend $650 a month on alcohol, they go out to eat very often because they don't know how to cook, and they buy coffee on a daily basis. Sure you can tell someone to uproot themselves from their friends and family to move somewhere cheaper to live and earn around the same maybe a little less to save more, but few people are likely to do that.
Which is why I love buying $SBUX. 🤑
Don't forget the avocado toast.
I managed to do exactly the same thing last year! Luckily for me I learned to prioritise this early enough in life to take advantage of the fact that I am young and have less expenses than someone later in life. I say this on basically every video, but thank you for being an inspiration for this kind of thinking for me!
I love and appreciate the honesty in this video. So refreshing.
...and the two of you are like-minded financially, which is so nice.
Financial minimalism for the win!! Watching this 1 year after it was made and of course it’s very relevant
Andrei you're now responsible for my housing and food after I told my parents I dont need to go to college
😂😂😂
Ooof!
Alphonsus Ho looks like Andrei is going to have to make a couple withdraws from his $200K Robinhood portfolio
Lol
All jokes aside, my parents literally told my siblings and I that if we didn't go to college we have to move out. I would have loved to stay at home rent free and save up for a couple years but nope! Haha, I'm sure lots of people have similar situations. Food for thought 😁
Hahah!
I used to save like this, and it helped me save for investments later on. Though I have noticed one should focus more on earning more and than investing instead of just focusing on the savings. Thank you btw your videos are very helpful
She's a keeper Andrei 👌
Kool-Aid Man: "Ohhhhhhhhh yeeeeaaa"
@@AndreiJikh 😂😂😂😂😂 yeah seriously 👌👌👌
Especially if she’s paying rent without giving you shit! Didn’t even see an eye roll when it came up. Well done, sir
I ve recently discovered your channel and omg its very valuable and very real, one downside is the too much ads
Hello! I don’t think saving half our income would be possible, but still good tips. We have a family of six on one income. Daycare is expensive and we’d rather have one of us with our children than make the extra money we would make after taking into account daycare, cost of a second work wardrobe, cost of extra gas... the extra money $10000 isn’t worth giving to that time with the kids. We did great in our housing. We bought a smaller house and have paid out off. So no mortgage or rent anymore! I think a more realistic goal for our family would be 1/5 - 1/6 of our income saved. We haven’t been able to do this yet, but I’m really trying to be very intentional with our purchases this year. Though I think we will need to buy a new vehicle. We have two, both are old (2003 and 2004). And our family SUV probably Wei need replaced this year, even older secondhand vehicles that have enough seats for our family are expensive. But making the choice to have four children was obviously a choice to have less “extra” income. But 1/4 of our income would be great if we could find a way to budget that. We wouldn’t be at a six digit savings for quite awhile though. But we haven’t lived pay check to pay check in many years at least!
6:05 Feminine hygiene products.
There, I said it. TH-cam demonetization, come at me, bro! bwahahaha
That‘s why I am rich af, I don‘t use any female hygien products. (I am a man)
50% is tough especially if you don't consider your Roth 401k and Roth IRA/HSA part of it.
I talked about the benefits of a Roth IRA in my latest video demonstrating how a 20 year old can invest $9/Day until 65 to become a tax free millionaire!
Why wouldn't that be considered part of it lmao
Alex if you plan to retire after 59.5 then it make sense. Not if you are seeking FIRE. It’s just personal preference on how you view it.
@@DividendGrowthInvesting That makes sense initially but even if you plan to FIRE you can still consider the Roth accounts and HSA as backloaded funds you can use to sustain yourself once you hit 59.5. If you FIRE at 30 then that's an additional 29.5 years you have to let your investments grow, which you can account for in advance or not account for as part of your SWR.
Finding a partner or a friend with the same values would be great.
Being surrounded by people that want to succeed will help motivate you to succeed as well
i love how they share the same sense of humour
Almost one million subscriber.. Maybe next month you will reach 1 million..just happy celebrate for your channel.. Keep inspiring.. I watch all your videos.. Say hai from indonesia..
My goal is to save 40% of my income! Definitely feel like I can achieve that 🙌
I hope you get there. Where would you put that much? Stock market? 401K?
So beautiful watching the pair of you, nice to see people genuine happy, hope you have a great time together and save smart so you can live your best life 💕✨
The importance of college is questionable when it comes to making a decent salary! I've been thinking about my past experience on this a lot and how useless it was for me lol.
I mean nowadays yea absolutely, it's crazy how much less valuable a degree is. Makes sense though when we're pumping out tens of thousands of students every single year! Did you ever end up using your degree for anything?
@@AndreiJikh Nope... I got my associates degree, and then realized I was just going for a piece of paper (trying to major in business) and that it wouldn't really help me. Got my real estate license a short time later, and never looked back!
@Jdawg obviously depends on what you want to get into.
@Jdawg Thankfully we have engineers and computer scientists that make it possible for people to make a living off of TH-cam lol
@thespiritbomb Really does help to pick the right major and to go to a public city or state school. Not a private school
Andrei & Corrie
Children do cost money but having and raising kids is one expense you must never shy away from. Bringing up the new generation is your duty to humanity.
I liked your comment regarding expensive cities. Think about doing an entire video on that. I know over a dozen people here in Ohio who own homes despite only having typical restaurant or truck driving jobs. Columbus is somewhat expensive now but Cleveland and Cincinnati are not. You can still buy a move-in ready house here for $110-120k, which only requires $5,000 down with an FHA loan.
5 years later..... on Dave Ramsey show...
My wife didn’t tell me about 2 million dollar debt 😭j/k.
Ramsey: “rice and beans, beans and rice 😂”
Jokes aside. Looks like you guys look happy congrats :)
haha I hope not! Dave Ramsey is going to be extra grumpy on top of already being grumpy haha
😂😂
She needs credit counseling.
I love Mexican food!
Haha Dave and his beans and rice! Love the reference!
Andrei! I’d love to see how you layout your spreadsheets, track expenses and budget on your computer.
Another great video!
Ways to save money
1. Don't have a girlfriend.
2.dont have a wife.
3. Don't have kids.
All will = being rich
Unless you find a gf who actually likes to save money.
Couldn't agree with you more
Do get a girlfriend but someone like her that actually helps you save instead of milking you
maybe you should date different types of people.......the kids part..If you have teenage boys, your food budget will go up exponentially-you will go broke
Kids are the biggest expense ever, no thanks id rather get a few cats
Bruh,
You hit the nail on the head. I truly believe that the vast majority of young people today are spending WAY to much money on things such as Food, Streaming Services, Travel, etc. The boomers came back from war, went directly to work, and simply brought their money home and saved it, because besides the one family vacation a year, what else was there to do? You went to your kids baseball game, and bbq'd on the weekend. Now of days everything is thrown at us, between $1,000+ cell phones to $3,000 TV's. Great video, adding it to my list for others to watch in order to truly understand that they can survive with sacrifices.
God Bless,
TJ
you are one of the most helpful TH-camrs I have watched. Being an immigrant myself and coming from a different culture where money is viewed differently, videos like these are a source of information treasure. I can't thank you enough!
I'm close to the end of the video and I want to tell you that you're awesome bro!
Thank you for sharing your story with us and for the education you provide. I'm glad I found you.
“when we feel adventurous we go to the $.99 store” THESE ARE MY PEOPLE!!!!!🤣😂 if i could double subscribe i would!
So good!
Comes for the finance advice
Stays for the dating advice lmfao
I stan this couple haha so quirky I love it
Lots of people are struggling and the reason varies. For some it's increased cost of living in their area, for others it's living beyond their means (complains of never having any money but buys the new iPhone every year), but in many cases it's because real wages haven't increased for decades. In the UK since the late 70's inflation has sky rocketed but wages haven't. Most ordinary jobs pay barely more than they did 20 years ago; my mum worked in Marks & Spencers (a good quality department store in the UK). The same job now pays an extra £3000 but based on inflation it should pay £6900 more. Over time everyone is slowly being screwed by corporate greed so the money is stacking up at the top of the system.
Corrie is a keeper!
Keep up the great vids!!
The Focus made me laugh. I have a 2001 Chevy/Geo Tracker, that was totalled. I bought it back from the insurance company, ordered some parts and rebuilt it in my dad's driveway. Lasted a while, but nolonger economical to repair.
Keep uploading videos at this time. I watch em at my lunch time
Will do! I slept 2 hours haha, I usually stay up for an hour for comments and then knock out!
Andrei Jikh appreciate it
'You don't want to do Pacific?'
'Ok,we'll do Atlantic'
😂🤣😂🤣
I’ve been watching you for awhile but I just subscribed today. There are many financial people I watch but I like your style - I like the magic and intros are funny and entertaining. Keep it up!
Instant Gratification... absolutely right!
Food, travel, make-up 😂 the essentials
Its a good thing to save money but its better to invest because by Investing you have the potential of higher returns as compared to a savings account. Investing will help you make more money whereas saving will keep the money safe giving a little return
It is possible to earn extra income by investing in quality investments.
the return on your investments might be used as a source of regular extra income for day-to-day living. Or you might choose to reinvest the money to further grow (or compound) your wealth.
HeIIo i need your heIp, i want to invest but i dont know how to go about it... can you recòmmend to me any investment with a very high return
Louis Regan
Stock, Real Estate, Forex and Bond.. this are list of assets my portfolio manager invest my money in. with his help i have always received a 70% profit off my investments on a monthly basis and i make most of my profits from Stock trading
Thank for the help, what is the adviceable amount to invest in the stock market
While there is no minimum order limit on the purchase of a publicly-traded company's stock, it's advisabIe to buy blocks of stock with a minimum value of $10000 and above. This is because no matter what onIine or offline service an investor uses to purchase stock, there are brokerage fees and commissions on the trade
Love those savong money tops Andrei, money is spent too easy these days. Don't spend more than you earn and start investing early! Key factors that will benefit you in the future!
Good job guys!. I am 56 years old own 10 rental properties with a mortgage only on 1. I now save 100% of my income after taxes. My wife of 28 years manages the properties!
Wow , concepts that go way way back. Work today . Discipline bottom line .
Wait until you experience divorce. That sentence made me laugh so much.
It's 100 spot on tho 😒
You’re videos are awesome!
Thanks man! Your tracks are dope! 🔥
Andrei Jikh yoo! Thanks g that means a lot 🙏🏻
*Your
I don't have a savings account. My money in stocks and crypto currency. Savings account interest is .05% vs my tech stocks is up 200% 📈 thanks to channels like this 🤑
200% lmfao0000oooo
Savings accounts aren’t great but it’s around .40%
Thanks I appreciate your videos. For myself I started my 1st year making 52k and couple years down the line making 64k now. I truly believe in saving. Currently, I save approx. 22% pre-tax and using your videos to fund my various income source accounts.
50% Savings rate at that income level is fantastic. Congratulations! My wife and I spent ~$26,000 annual (all bills) the last 6 years we were working in Houston, before we achieved FIRE. We averaged ~69% savings rate of our gross income over the last 9 years of our FIRE journey.
Woah good job! 69% is incredible, that will definitely get you there in less than 10 years, congrats! I'd love to FIRE in the next 10 years, going to continue trying my best :)
How to save money....step one: Move out of California...the land of the ever increasing taxes...
Weed Savages trust me, I know that. People keep voting democrat and then complain about the taxes. I do not understand their logic.
It's hard out here in cali.
@Weed Savages how incredibly hateful of you. The man literally said he wants to get out because of high taxes.
I think people forget that California has a huge Republican population. People like you are filled with so much hate that y'all completely overlook that.
Lol just move to sacramento
Being a California native myself,earning 40k in southern California I can say its hard if you make it hard for yourself. I have a bachelor's degree, graduated with ZERO debt and have been fully maximizing my Roth OR A and contributing to my 401k up to my employer match. I don't go out to eat at fast food places or restaurants. Skip all the happy hours,clubs, netlix etc. Stay home if I don't have to go out. Only spend on the basic nessecities. Like others here have mentioned it is all about delaying instant gratification. The only things I don't hesitate splurge once in a while are on needs that I choose to be wants. An example is I needed a new mattress, I did my research on the best types of mattresses the I purchased a pure latex mattress costing several thousand dollars. shoes are a necdszity, in will be needing new sneakers soon so I Will be purchasing some Gucci sneakers. Everything else I save/ invest
I am currently still dragging around my 2005 Ford Escape for as long as it will run, sunroof taped up and all! 😭😭😭
Know why you are saving. It’s a lot easier to do if you have a specific goal in mind.
Ive been watching a lot of investing/wealth building videos recently and his seem the most authentic and honest. This discussion laying out their real world lifestyle and not trying to sell some glamorous illusion is amazing. Thanks for all the great info and inspiration.
The partner part is the most important thing in my opinion. Only if your partner supports you in your frugal ways can you save a large portion of your income
Inbox
+1.3.8.5.3.5.0.0.6.8.7"....
How I save money: I cycle pretty much everywhere. Saves money and is healthy.
🙌🏻
Prepare your own food you would save thousands of dollars
Awesome video, would love to hear your thoughts on pros and cons sharing finances as a couple!
Ooooo that's a good one! Definitely something I want to talk about :)
Next video: How to Save 100% of your income.
haha, you gotta make an obscene amount of money or do some mental gymnastics! 😂
Leave that to Graham Stephan.
Live with parents, their money, and no debt.
Just live with your parents
The honesty in this video and many of your others keep me glued to your channel. Keep on trucking. Routing for your goals to come true while I work on mines !!!
its a cultural shock as an indian, when americans say they cook at home like its something unique. Indians do that anyway, doesnt even matter if youre rich or poor.
I can delay gratification forever, because it is gratification for me by itself.
Glad not to be part of those 69%
I live in CA btw, yeah it’s expensive but if you can handle money you can make it even in here!
How much taxes do you pay in America? Because in Germany it’s around 50%. So if I wanted to save 25,000 after taxes I must make around 100k a year...
You both seem like two very down to earth people. Love to see it! Wish the best for both of you.