10 "Frugal" Money Lessons That Changed My Life

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Here are "10 Frugal Money Lessons That Changed My Life."
1. The Majority Is Wrong 99% of The Time
Trends become very big not because they are correct, but because people realize they can profit heavily off them. Listening to the majority can be dangerous because it can influence you into making a decision that can cost you financially. It is important to do your own research and not let the majority influence you.
2. Wealth Consists of Three Things
People often only associate "wealth" with money; however, wealth consists of three things: money, health, and free time. It is important to not just focus on the money aspect of wealth, but on the other two as well.
3. Money = Life’s Energy
In the book, "Your Money Or Your Life," the authors describe money as "Life's energy." What they mean by that is that we use up our energy (usually in the form of time) to make money. Then, we use that money to fund our lives. It is important to remember that you sell your energy to make money.
4. Delayed Gratification Always Pays Off
Delayed gratification is the "ability to wait to get what you want." People often seek instant gratification, but the rewards of instant gratification fade away very quickly. When you delay your gratification and have patience, it always pays off.
5. With Investing, Learn About Index Funds And Move On With Your Life
Many people let their pride get in the way with investing and believe that they can beat the SP500; however, very few people can beat it. Warren Buffet recommends the average investor invest in index funds. I believe, with investing, to put your pride aside and take the easy, safer route of index funds.
6. Nobody Is Going To Take Better Care of Your Money Than You
One of our faults as humans is that we put a lot of trust in complete strangers. When it comes to money, people are scared of money and often avoid the whole subject of it. However, you are the one who is going to take the best care of your money, so it is important to educate yourself on personal finance.
7. Living Below Your Mean + Frugality = Poor Man’s Weapons
Life can get really tough, but life provides us everyday people with weapons to combat life's toughness. Living below your means and frugality are both weapons to combat life's challenges.
8. You Don’t Need To Make A Lot If You Don’t Spend A Lot
I would rather have more time and less money than the other way around. In order to maximize my time, I simply spend less so that I do not need to make as much.
9. Get The Big Expenses Down, And The Rest Is Insignificant
In my videos, I preach the message "think small" a lot and be intentional about every day purchases. It is important to spend your money wisely; however, most of your budget goes to rent, car, and food. If you can focus on lowering those as much as possible, then the smaller expenses are less significant.
10. Money Comes And Goes. Time Is Limited.
Money is important, but money is just a tool that will help you live your life. It is important to be intentional about money and take control over your personal finance, but it is important to remember that, in life, money comes and goes, but time is limited.
**I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make. Links above are affiliate links where if you click and order, I will receive a commission at no cost to you. **