How to become financially free.
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- เผยแพร่เมื่อ 5 ก.ค. 2024
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Thanks for watching! - ภาพยนตร์และแอนิเมชัน
As an avid investor, I often mull over how accomplished investors are able to amass fortunes through their investment endeavors. Presently, I hold equity exceeding $545K from a recent home sale, yet I'm uncertain about my next investment move. Should I consider buying stocks at this time, or should I await another opportunity?
"As long as you're in debt, the money that you're making doesn't belong to you. It belongs to the bank" 🔥
That quote really helped!
I’m already trying to pay all my debts, $740k and I’ll finally be good
Oh, so true
Dave Ramsey is a god for being debt free.. I just wish I knew about him when I was 16 and not 23 with 80k in student debt with a degree that I can’t get a job in..
@@mjolninja9358 How do you accumulated so much? It's like a lambo + medical college degree + credit card BS.
This goes to show the prominence of a professional financial advisor's opinion or advice..
Bianca Rantzsch | Your Way of Life, I know firsthand the one effective technique to grow faster with understanding the market & finance is getting in touch with an Fin.Coach. Coming from consecutive loss of portfolios ranging from real estates to bonds. I came to understand how capital, time, entry, exit and goals are all essential before investing after being passively managed - Yvonne Annette Lively's guide. Now I currently hold a $253k worth on asset, averaging a 15% mroi. I can I know for certain the prominence of an FAs opinion or management
@@Gregfreemann Most people don't plan to fail they fail to plan \ John L Beckley.
@@Gregfreemann Just looked her up. Records are detailed but wouldn’t she sorta pricy for 11% m-roi I mean Yvonne Annette Lively
@@mvanwie wow......thanks for the info insha allah
@@mvanwie i look her she is price and i miss her call appt.
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking the bold steps we need in other to reach our goals.
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
@@raychristopher7797 This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name MARTHA ALONSO HARA and everything changed. I started enjoying huge returns from my investment.
@@harrisonmichael5047 Please, how do I connect with your financial planner?
@@raychristopher7797 quickly do a web check where you can connect with her, and do your research with her full name mentioned
@@harrisonmichael5047 Thank you, Going through her profile on her webpage out of curiosity, and surprisingly she seems proficient. I appreciate this.
I’m currently about $5,000 in credit card debt. Plus I owe back rent adding up to about $4,000. I’m very depressed about it being that my girlfriend dumped me as well so I recently got a 2nd overnight job to be able to sustain everything till my lease is up. After that, I might consider living in my car till I pay everything off. It’s going to be a long road, but I’m willing to take that journey in order to gain that freedom & piece of mind. Thank you so much for the motivation Matt. I needed this.
Hang in there man. Stay positive and work yourself out. You got this. Things will get better for you 🙌 Sending good vibes from The Netherlands.
Got this bro I promise 🙏🏻
You have the absolute right mindset, good luck!
Grind for 1yr and you'll bounce back...5k in credit card debt is very manageable...there are no losses here just Lessons Learned...as far as your Ex...take the Red Pill...they will always eventually leave...they are never urs...only your turn...work on becoming the best version of yourself...Peace of mind is Key...good health and being financially stable...then entertain the females
Wishing you the best of luck!!
Thanks for this amazing information !! If you don't find a means of multiplying money, you will wake up one day to realize that the money you thought you had, has finished. Investment is key, I pray that anyone who reads this will be successful in life
Very true, I started investing before the pandemic and that same year I pulled a profit of about $750k with no prior investing experience, basically all I was doing was seeking guidance from *ROCHELLE DUNGCA-SCHREIBER* who's a guru in the game, you can be passively involved with the aid of a professional.
Creating wealth and gaining financial freedom isn’t as difficult as lots of people think. Through the right information, building wealth and staying financially stable forever is way easy. Investing is the only true way to earn a great income and staying wealthy forever..
The first step in creating wealth, is figuring out your goals and risk tolerance - either on your own or with the help of a financial advisor. If you can get the facts about savings and investing with a well detailed plan, you should be able to gain financial security over the years and enjoy the benefits of managing your income.
You’re right! Working with a financial advisor will genuinely set you up for success in life. I’m glad I was able to hire a financial advisor “Carol Vivian Constable earlier this year since while others were complaining about the downturn, I was busy cashing out from my investment, eventually making over seven figures in the first quarter alone…
Your advisor really seem to know this stuff. I found her web-page online when I google up her full names, read through her resume, educational background, qualifications and it was really impressive. I left her a note and booked a call session with her hoping she gets back to me soon
It’s unfortunate most people don’t have such information, I don’t really blame people who panic because lack of information can be a big hurdle. I’ve been making more than $100k passively investing with my adviser, and I don’t have to do much work. I will always make good profits returns.
Black Friday has left the chat.
Working a single holiday pre-covid in Retail was enough to kill it for me. (15 years of retail sales, now I barely shop) lol
😂😂😂
Hahaha!!
Low Waste, High Melanin shopping is not something you should do as hobby. Without a plan in mind what to buy. Do i really need it? Do i already have something simular at home? Does it make my life better?
The goal isn’t more money. The goal is living life on your own terms!
Yep, learned that myself too. I;m currently paying off my $740k debt, it used to be like bigger but thanfully I’m able to pay some of it off
YEAH!
@@mjolninja9358What? $740K debt? Thats a lot of debt! What happened?
Absolutely!!!! Victor.
@@mjolninja9358 goddamn, did you buy an island or something?
"People are spending money they don't have to buy things they don't need to impress people they don't like."
Someone else watches Gary Vee! :D
Ok Tyler Durden
@@itscameronbloom and Gary Vee watched Fight Club.
Dave Ramsey 💵
Spot on
We are already in a big crash Inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated. If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.
Whichever firm you select, make sure you get your insurance from a reputable financial adviser, such as MARTHA ALONSO HARA who has dedicated her career to financial planning. Because they will assist you in escalating, navigating better, and completing the task in a safer manner.
@@ThomasWilliam-sw8ms I want to build a diversified portfolio based on my personal income. I am easily triggered/highly emotional, which could be detrimental to my portfolio. I hope I am a patient and systematic person. day trading is not for everyone and multiyear holding is not for everyone. I know my strengths that's why I need proper guidance to be able to venture
@@MaryPatricia-wr3wj I have saved myself from all the hassle that chaotic market causes. These days the best way to come into the market space is by reading, studying, being patient, and seeking guidance when necessary, due to my line of work I can’t handle my portfolio so I just copy the trades of my FA. I saw her on Bloomberg business news. It’s been smooth since then.
@@ThomasWilliam-sw8ms how can I reach this person because I am in need of a better investment approach?
@@MaryPatricia-wr3wj quickly do a web check where you can connect with her, and do your research with her full name mentioned
Begin raised in Europe in The 80-90’s, we grew up with one rule: you can’t spent money you don’t have. Back then it wasn’t even physically possible, no cash, no spending. Now, in our 40’s, my husband and I still live by the same rule. We only have a mortgage. Our kids are growing up in a different time, but we keep teaching them this rule. So, our 12yo is bying a PS5, he has been saving for two years for it. Our 16yo has a parttime job and is allready saving for college. Financial literacy should be a subject in schools!
You need money for college in Europe?
@@GermanTube123 Yes, but tuition is about 2000 euro’s a year
@@GermanTube123 depends on which country you live in, unlike many like to promote Europe is not a centralized thing.
Being born in the 90s i learned the exact same thing. If you don't have the money, don't spend it. Never borrow anything. If you want a ps5 for example you need to save up if you can't buy it outright. If you have to borrow money or put it on the credit card then you can't afford it. That's just too bad.
My boyfriend is from England and he's learned that if he wants anything he can just get it that moment and pay it back later. That's a trap.
@@GermanTube123
Not all countries. It's free in scandinavian countries. It costs money in England for example.
I choose to go to community college where as an athlete I was able to have my schooling entirely paid for and I was able to work as a nanny, allowing me to make over $30,000 during my 3 years of school. Not many people can say that that was the case during their college experience. I am grateful to not have the debt associated with a 4 year college, however I did feel major pressure that I was making the wrong choice, that I'm missing out. I just graduated and passed my state licensing test to become a physical therapist assistant and though I'm happy, I still hear from others and my own mind that I missed out. Societal pressure sucks, but atleast I'm not in debt and I have freedom and choices because of that.
4 years to be an assistant!? Go the whole way! IMO
Honestly, you didn't miss out on anything important. You're leagues ahead of the majority and have built a life for yourself that your present self can enjoy and future self will thank you for. Congratulations!
You did what made sense for you. Ignore the noise.
@@jeffg3895 3 years to be an assistant when its 7 years to be a full PT. Also the cost associated with it was not worth it at this point in time with the market being as flooded as it is... I do intended on finishing to turn my associates into a bachelors degree
@@IshikaShanai Thank you!
I lost my 4 year old business this year due to COVID-19 and definitely took up a LOT of debt along the way. Here's to starting from the bottom and climbing back out - 27 years old. Thanks for the encouragement.
Good luck man! Now with your experience you might climb back up in no time.
So sorry to hear that
We are all in this together Joe. We will get through it, and come out of it stronger.
Best of lucks, hang in there
That's rough. Good luck to you.
7:05 Never thought I'd see myself in one of your videos! Always down to share self-hair cut tips with you, Matt!
no debt is so important to feel free. Thanks for saying it so clearly and friendly
If you seek tranquility, do less. Or do what’s essential. Do less, better. Because most of what we do or say is not essential. If you can eliminate it, you’ll have more tranquility.
The 80/20 principle, a game changer.
I have a podcast episode called tranquili-tea that will help you find tranquility too! 😂🥰
Should i let my job go?
This video couldn't have come at a better time. I think a lot of us are struggling financially right now, but the first step to overcome it is being aware of it. Recently I have become more mindful of my spending and finding out where my money actually goes. It's truly alarming how much money I was wasting on useless things. Just spending some time looking into my finances, has made a huge difference in my life.
This is incredibly true and very wise advice, I bet it applies to pretty much everyone. Personally I work landscaping 10-12 hour days so me and my guys always stop at gas stations a couple times a day and get energy drinks, snacks, tobacco, etc. I’d always go in and get a couple red bulls or something that I really didn’t need but it was only 5-10$ each time and I made good money so I didn’t really think about it. I did a deep dive into my finances like you did and was shocked to realize I was spending typically more than $300 a month on that crap which adds up to like $3600 a year I was losing and didn’t even realize it. Now I just bring black coffee from home and don’t even get out of the truck when we stop, don’t miss it at all and I feel so much personal fulfillment from knowing I’m making the right financial moves. I know this is a long comment but maybe it can help somebody, cheers mate
I barely spend money now. The only things I have spent money on are a few essentials for my TH-cam channel. Sometimes I think about buying something and it's crazy how far I've come in terms of money I spend. I think their needs to be more videos like this on TH-cam. Maybe I'll make one too
@@brock3805 wow great story man! I used to stop by a coffee shop every morning to get my coffee before work. I would tell myself it's only $2 and wouldn't think anything of it. I ended up doing the exact same thing you did. Once I realized how much money I spent every month on coffee, I went out to Walmart bought a coffee machine and I brew my black coffee at home. I now take pride in my home brewed coffee and ditched the idea that I "needed" that cup from Starbucks.
You should see what it feels like when you have your emergency fund built up and when you retire.
Awesome. Quitting Amazon helped us a lot. Started prime when it came out, probably a decade ago. It’s been a few months and we don’t miss it
My father left my family a few months ago and I’m basically taking on his role while trying to support my mom and younger brother. Your advice and videos have honestly been so helpful to me, Matt. You’ve filled the void he left by teaching me how to manage my finances, giving me confidence to make better life choices, and helping me learn how to adult.😄 Thank you so much! Keep up the good work. 👍
“There are no shortcuts to any place worth going” W.Buffett
I never listen to billionaires “advice”. All billionaires had opportunities that most people don’t have, and at least at one point of their supply line there are under payed and exploited workers.
I always feel a little more free when I watch Matt’s videos
*becoming financially free right now, especially after living through something like Covid... is more important than ever...*
They should make this required watching for every school, college, job even church.
This is spot on!
Gaining financial freedom and succeeding as a day trader seems like an easy task until proven difficult. It all depends on understanding the marketplace and developing effective.
Day trading tends to suit attentive individuals capable of managing the stress of intense risk-taking activity.
@@kelvinjohnson3906 it’s no doubt not for me, I believe in staying invested on long term basis. I look out for stocks that have a firm foundation along with big payouts.
I’ve been getting more into stock trading, it’s amazing how lucrative it is. I’m putting in maximum effort to get the best result.
@Paul Nolan I’m aware of Dan Raziel, just how reliable and profitable has he been and for how long have you worked with him?
It amazes me how people make this much profits trading.
Earlier this year I was laid off from my job as a chef and dove all in to youtube. I sold my dream car (wrx) to remove that payment and pocketed the cash. I've found that not having that payment made a HUGE difference in my QOL.
I subbed in a Onewheel and we still have our old truck if needed. I now invest that $500/month I was paying.
Tbh, I will buy it again when it no longer impacts my monthly finances.
you sold WRX? Dude... :(
Damn, I’m sorry that happened. I love your channel and I know it’s bringing so much weeby joy to so many people. I hope things change for you and you can get your car back. This pandemic has really had it in for so many people. Unfortunately I’m in retail so I’ve been dealing the opposite end of the problem. Stressful, but thankful to still be working.
All the best 💛
We’ll get there together one day at a time.
You still bought a one wheel - ain't cheap. Couldn't have bought a cheaper electric alternative like a scooter?
@@marloon88 it also had to do with me wanting something fun to ride to honestly hide the hurt of selling my car. I love snow boarding and this was my way of being able to get that feeling back.
Dude Im so glad I found your channel, definitely got my Sub!!
1. Work your face off
2. Invest consistently
3. Avoid debt and delay gratification
Valid, common sense advice. However, none of these steps is easy. In fact, they are flipping hard, and require tons of willpower. No surprise that most folks can't stay the course.
Just need to add emergency fund to that list.
And in 20 years time, so SJW leftists will come to you and say you are privileged
Working your face off isn't the solution. You need to find time to enjoy life and what you have. You need a work life balance.
Mann I’m still in debt tho so maybe next time, I;m still trying to pay off my $740K debt. Soon
Thanks Matt - this is so helpful and important. I moved back in with my parents for 2 years at the age of 29. It wasn't always enjoyable but was an important step for me and my finances. A few of my peers did too and are delaying buying property and I hope these kind of steps are more accepted now - it's just different times now.
Too many voices are telling us to buy the next best and new thing. It doesn't make us happy but makes us always want more, and not only that, contributes to how wasteful we are as a society! The impact that materialism has on us, the generations after us and also the environment is truly sad. So glad that young and relevant people like you putting these important messages across :)
Matt- I’ve been watching your videos for a few weeks now... I’m 44, so a bit older which only means I’ve been hanging out on the earth getting knocked around a little longer than you.
I wanted to tell you how incredibly insightful and self aware you are! It’s so refreshing to see a younger person speak with some wisdom that makes sense. Many of the things you cover are still applicable to someone in their 40’s.
I also want to say that as you progress you will see how life improves with age. I appreciate that you share your insight and ways to go about making situations better.
I wish you much success and will continue watch your videos and share them when I can.
💯
That PS5 mention hit close to home 😬 Good stuff as always, Matt
Same here. I thought oh S#!T he’s talking to me on that
When did he mention that
kinda different though. Just on the topic alone of buying iPhone vs new ps5 is different because it's not like new games are going to come out for your Ps3/Ps4.
@@marloon88 true but I think the point is even if no more games come out for the PS4 is a PS5 really a financial necessity
@@blueeyedtech1234 so is 1000$ iphone?
New playstation comes out like every 6-7 years that's like spending 10$ every month , so i dont think it's bad to buy a new ps5 if you are a big gamer.
I really needed to hear this!
I’m living with my parents, driving a used car, in a community college, and unfortunately, feeling guilty about it.
Although now, every time I come back home to my parents, drive my used car, or login into my college class, I will remember what I’m going through now allows to be debt free and truly focus on what is important to me now.
As always, great video Matt! Thank you!
Hey man, you’re winning in life!
Work hard in community college and transfer to a top university.
This will save you 60,000 bucks in tuition alone.
I wish you luck!
you´re taking care of your current self without shitting on your future self. good job! idk how it really is in american culture but in germany or at least the social circles I am in, buying used and being thrifty is not frowned upon, it´s actually something people might find inspirational
It takes time but when you are ready, pay them back and remember to treat your parents well for the rest of your life. I went through the same as you and now has the ability to finally pay them back (: good things comes to those who wait!
I did the same thing! In fact, I'm still driving my 2001 Toyota Camry and I've been out of school for a few years haha. Keep up the hard work!
Aww thank you all! Really appreciate the amazing feedback. G-d bless you all!
In my opinion, this video was one of the best. Perfect shots, music on point, and message delivered clearly. Love it and keep up the good work.
Hi Matt,
I've been following you on both TH-cam & IG, I wanna say this, you're such an incredible human being! I repeatedly love watching lots of videos of yours, this one though, has become one of my favorites! I've learned and grown up so much as a person and would inspire to help more and more people with the knowledge that I've gained from you.
Hugs and love from Malaysia!
My sister and her partner can’t seem to get out of debt and it breaks my heart. We talk about it often, and I will be sending this video to them. The mindset shift seems so important, and I haven’t ever talked to them about it. I have only been able to give them advice on actual tactics I use to stay financially secure. Thank you.
Have you given them Dave ramsey? His lesson on debt is the best one to truly motivate people
I also have a sibling who’s really getting buried in deep. I’m jobless myself but not as unfortunate. It’s important for us to be the voice that interrupts what the pressure of norms is applied on our blood so they know all options available and have well-informed pivot points. Prayers for your family and you!
Hopefully they will be in a better place 🙂
@@ShanqKoo thank you 😊
@@mirandabeaudry7936 I’m sorry to hear that. They are lucky to even have a family member who cares and worries for their wellbeing. Unfortunately there are so many people that don’t have that, especially when it comes to debt, even though it has such a large emotional impact. Will keep y’all in my thoughts too. Thank you 🤗
I remember how shocked I was realizing this as a teenager, moving to America. That all my friends were in debt and nobody was making smarter decisions, simply because this was 'the norm'
I don't live in America. I just wonder what they have with debt. In my country only two types if people have debt: 1 building a business or buying a house or condo to live in for the rest of your life. 2 people who are... how to say... dumb.
Do americans pay for example college themselves? Maybe that's why they are in debt🤔
@@rr-ho6oo It goes beyond college expenses. People are financially illiterate and are not conscious of how much money they make/have compared to how much they spend. There isn’t much to it.
I moved out when I was 19. I can understand when young people want to do that. Some parents just suck and are abusive. Still I payed attention not to get into debt.
@@Jane_Friday i'm italian and if we don't consider the national debt, we are in your same situation
We are all trying to take that road, that path. The path to financial freedom. It almost always seems impossible to be debt free. I totally agree with Matt on why we are 'succumbed' to debt. My personal feelings about it is debt is not a dead end. Being financially free comes down to how bad you really want it. There are a lot of ways. One way is through investing and saving. It can be overwhelming. I got a chance to talk to Peter Mallouk, the CEO of a wealth management firm, and he gave simple strategies on how to invest and save as well as why it’s so important.
Totally agree with you! I actually watched your video with Peter and got some very helpful tips on investing. Worth the watch!
Having a financial plan for yourself
Hey Matt! Hello from India. I have been binging your videos from over a month now and almost every video that I watch speaks to me on a personal level. Your videos are so relatable and inspiring and have had a very positive shift in the way I approach life. Until recently I was craving for the latest gadgets and had started saving for it. After watching your videos I realised how much of a fool I am and how that money is better off invested. I crave to be financially free and have that peace of mind where I am not bogged down by what society thinks of me. Keep inspiring mate. More power to you.
I’ve had to buy 2 $15,000 cars since college, had a business loan, personal loan, and had $17,900 of student loans when I left college. I’ll make my final payment on my student loan in December. Legit seeing one of your first videos is why I tackled everything as hard as I did so I wanna say thank you!
CONGRATS BRO!!💪🏾🙌🏾 Keep going, you got this! God bless you!🙏🏾
That's crazy!!
This is really the most amazing TH-cam channel I've ever discovered accidentally
for sure
To whoever reading this, never stop chasing your dreams you can do it. Keep pressing and thriving you will make it!! Consistency is the key to achieve your goals
Who else thinks this forex trading is kinda easy but is way to nervous to start???
Forex trading has left me no choice but to keep investing because it makes so much profit for me.
Indeed investing with an experienced expert is the best way to get started in the forex market. Learnt that the hard way though!!!
Speaking of forex trading, it’s the best business in the world right now. I know a couple of friends who make a whole lot of money trading the financial market
Demo account is risk free
Your best video yet Matt. Yourself and The Minimalists have literally changed my life this year. Massive Thankyou from the UK.
I'm a single mum of two boys (now men!) who achieved FIRE this summer after five years of working Dave Ramsey and then Mr Money Moustache-inspired plans. When I was married, I thought I had everything. Turned out I had nothing but an unsustainable life that didn't make me happy. I cannot believe how much I enjoy every day now, even in lockdown again, because I get to choose how I spend my time. I'm a writer who used to teach in order to get out of debt. I'd barely have time or energy to put out one book a year. Now my creativity is through the roof. Great video. It truly is absolutely worth living like no one else to eventually live and give like no one else. Love your work, Matt x
This is the dream! Good for you, Kate!
Best moments are the results from lot of sacrifices behind time , you deserve it, congrats
“We make these decisions when we’re kids. And we have to deal with it for decades”
ty matt for investing your time and effort to help other ppl, keep up the good work!
The best book out there for personal finance... “the simple path to wealth” hands down!!! Read then read it every six months
I've modeled my channel after Matt's. But this guy is just on another level. Every shot. Every sentence. Every word. The audio. The colour grading. Everything is just so well curated, thought out and just downright excellent. I aspire to make videos like you one day. I tip my hat to you sir.
Just checked your channel and your videos are great man! Keep grinding dude
@@meekael thanks so much for checking my channel and my videos. I’m very glad you enjoy them. My main goal is to bring value to other through my videos 🤟
Everyone wants to be free but very few understand what freedom really means. Regardless of the individual perception of freedom, one idea remains universal: Peace of mind is the ultimate form of freedom.
Hmm. Funny that’s what Jesus teaches. I like it
@@bradvincent2586 jesus does teach this!
Yesterday I watched your documentary Minimalism and I love to see how much it's still a core concept that you attach to other aspects of your teachings. Much love!
and, nice shirt btw
*GREAT VIDEO MATT!*
*glad you're back!*
Just one simple rule, “Never buy anything you don’t have the money for upfront.” Meaning, don’t buy stuff on installments! 😂🤣
if you can't buy two of the same thing with cash, then don't buy it. If you can't buy two new iphones with cash, don't buy it.
As a 24 year old i learned that on my own ...
Good advice.
But honestly people just have to be smart about. I bought some stuff on payments without interest because i didnt want to spend all the money upfront. But ye, if i cant afford it o dont get it
@@JakeEigenbrodt I want a house for 250k. Should I really wait till I get 500k and spend it on a house when I could put that in saving and just get a 30 year loan and pay the off quickly?
When you understand that your self-worth is not determined by your net-worth, then you'll have financial freedom.
You’re right about the first part, self-worth is not determined by net-worth, but you’re absolutely wrong about the second part. True financial freedom has a lot to do with net-worth, that is to say if you are debt free then you have real freedom to do what you want.
True
@@AxcelGamer97 also true
- Jamie Dimon
Its more like your self worth is not determined by the things you own
I needed to watch this. A boss took me walking away from an argument as me "quitting" and I was terminatted. Apparently that's not acceptable behavior and since then been stressed to make payments. I am so so close to getting a new job, and watching this just made me get a better understanding how I should face my situation. Thank you for making the videos that you make, they not only motivate me and get me to understand stuff more clearly, but I am certain it helps others as well. Thank you
I bought an apartment about 11 months ago and am still recovering financially and when I came near paying down some extra credit and I notice I feel tempted to continue renovating by using more credit. I often listen to podcast and watch videos about saving and how to become financially independent because I know I need to get reminded about my goal. Thanks for another inspirational video to keep me in track (and keeping me on track about minimalist lifestyle) !
I feel somewhat proud of myself for knowing about this already. I already made the decision that I want to have a simple life without being weighed down by debt.
I’m 40, house paid off 5 yrs ago, home on 5 acres, no debt. Never had a car payment, only buy a used car in cash. I live simple and have money left to save and have fun. I never worry about money. Live simple, live happy.
That's beautiful man. Ur winning the game of life.
Love it
Congratulations 🎈 and best of luck to you!!! 🙂
Excellent video! I’ve been listening to the Podcast for these past couple of weeks and I’m running out of episodes to listen to😂 really gonna miss how much growth I get from those podcast episodes. So good!!!
Ahh your timing never fails to amaze me. I legit needed this right now!!!
I'm 18 years old and I refused to go into debt for college, I found various scholarships and opportunities and am now going for free. I live off of campus as well renting a room for myself for just about $400 a month and bought myself a used car for about $1,500. A year ago from today my net worth was $0 and I'm nearing $10K by the end of this year! Might just drop out soon lol.. Be smart yall and thanks for the video Matt!
As a non-US citizen, I can clearly observe this mindset at my American friends.
In my opinion, you covered the most important topic in American way of life, and did it really well.
And for me as a non-american this is super weird. I can't imagine living like this
@@Kebbab.213 yeah I thought the same 😅
@@princecharlesontour8971 this is extremely weird like wtfff
As a US citizen, there is something even weirder: how angry Americans get about foreigners being better with money. I see that a lot at work, people upset someone saved up and bought an apartment bldg or started a business.
@@epbrown01 damn wow. I hope this will change. I feel like it's so easy to not fall into debt...maybe I'm wrong
Matt thank you for always bringing those unique perspectives. Please keep making those!
I absolutely love your videos on Personal Finance. Soo much knowledge packed inside.!!!
Keep creating Matt 👊
Step 1. Decide you value your freedom more than what other people think of you. Realize that money is life energy.
Step 2. Find a way to live below your means. This could be in the form of making more, spending less money, or ideally both at the same time.
Step 3. Save up enough cash for 2 to 3 months of expenses.
Step 4. Eliminate all high interest debt.
Step 5. Contribute to your employer sponsored retirement program if you have one up to the company match.
Step 6. Max out a roth IRA
Step 7. Max out your employer sponsored program.
Step 8. Invest in a brokerage account, invest in real estate, invest in a business or franchise, or save for another purchase.
Step 9. Continue to try to spend less and make more each year. Even spending 1% less will move the needle. Avoid lifestyle inflation like the plague and only spend your life energy on things that bring you true value.
Step 10. Accumulate 25 to 33 times your annual spending in investments.
Step 10. Freedom
We can all do this earlier than you think is possible. It's all about mindset and aligning your values with your spending. Good luck to everyone!
^The only realistic thing which doesn’t state save 2 times as much as you need to buy something in cash
My girlfriend and I are staying in an apartment with no furniture, just a bed because we avoiding buying any on credit. We just bought a couch last week cash it will arrive soon
As long as you have the money to pay off your card in full. It’s not a bad thing to use credit. It’s bad when you spend more than you actually have
@@daltondavis1803
Putting anything on the credit card is a bad idea. If you have say 1000 pounds on the card already you can buy it. If you have to say pay it back over 2 months then dont. It's simple. People need to learn to have more patience.
Congrats on the move! I am also in the midst of getting rid of stuff (about 2/3 of it) and moving, as well as cutting back to pay off debt. I consolidated my debts and I'm just hitting it one chunk at a time.
Don't ever take the time with your mom for granted. I'm so glad I spent the last year-and-a-half of my mom's life living with and helping her.
Thank you for making this video NOW, right as we head into the holiday season. Hopefully this can have even just a tiny impression on people to not fall further into financial prison.
You inspired me so much for my own channel! 😍❤️
Dave Ramsey is a good book for people looking to just get out of debt. “The simple path to wealth” is the greatest book ever written on financial independence
Agreeed!
One of your best and most informative videos to date.
There is a it of great information here.
Your past tips helped my wife and I figure out our “money problem”
We never had one. We had a spending problem. It took 3 years to get out of our rut but we are better now than we ever were 🤙🏼
Loved the video Matt! Appreciate all the value you bring with every video you upload! Love from Winnipeg!
If the solution was easy, it probably wouldn't work anyway ;D As long as it works, I am in!
congrats, someone copied your comment.
Finished "Rich Dad, Poor Dad" today, absolutely recommend that book to anyone!
Financial Freedom by Grant Sabatier and Your Money or Your Life by Vicki Robbin are both excellent too! Actually...I need to re-read both of those.
I recommend the audiobook, it's easier to fall asleep too. LOL. It doesn't matter how you do it just consume the book, it's great.
Matt I’m very thankful for your decision to try and help people understand concepts like this and encourage people to think deeply about what norms they agree to acting on. Your influence is really important because of its scarcity. Much appreciation!
I've been stuck in a bit of a rut lately, and I've stumbled across your videos again, after not seeing you on my feed for a while. Your videos have inspired me to work harder, and motivated me to do more. I know you get a lot of comments, so you might not see this. But thank you for making these videos, you've helped me a lot, and I'm looking forward to what you'll make next :)
Take a shot everytime Matt says he owed $97,000
I was about to go to a school for $25,000 per year, and then I found out that I can go to a cheap state like Mississippi and get the same great education for half the cost! Very thankful I did that! Now, a couple years into college and I have no loans and will not have any until medical school.
When i was 18 i went to school in a city where almost everyone needs a car and most of my fellow students had cars that probably cost 5-10k and i have one that cost 2,5k. It isn't the prettiest, but it gets me where i need to go! Besides i have never had to get it fixed unlike many of my friends whose bigger cars broke down all the time. That's something i'm actually pretty proud of, that i put my ego aside and got me what i needed, not what i "wanted".
Thanks for the insights and reminders that we are doing the right thing. We bought a foreclosed property as our home and 2nd hand toyota sedan. So much relief in our finances.
If Matt says it’s possible then it is. That is all. I know this because he told me I could be minimalist and I thought that was beyond fantasy (you’d understand what I mean if you saw my ‘before’😉). But I did it and have content to prove it - so I know for a fact that anything and everything is possible 🤣🤣🤣
ATTENTION BROTHER!!! I have two very very hot and big TH-camr girlfriends who I show off (I smell like 100 de*d orangutans oh nooo)! Thank you for you attention, dear dude kid justez
That’s so cool! Check out Cole Robinson. He’ll get my mindset around food worked out. He’s amazing. Advocate of fasting, but don’t knock it til you try it!
Me: trying to listen to Matt's advice on becoming financially free
also me: Scrolling through the comments right away
This took me only 20 sec to do :))
@@vladmichael4128 same here haha
Without even thinking lol
@@practacademyofficial2213 😂
Same 😂😂😂
Thanks Matt! As always you helping me keep my mindset right way.
This is why I watch these videos as Matt quoted in the end of his videos "to re-affirm the reason why I do what I am doing". Thanks Matt. Loved this video. 👍🏽
@Matt D'Avella thank you ☺️
Minimalism and frugality helped us pay off $250,000 of debt, including home debt! 👀
Exactly Matt
The pandemic stuck me hard everybody I owed got on my neck including the bank. I lost my job was left with just about 70grands
So i contemplated on how to survive what entered my mind was investment
I invested 40grands with a professional and got x2 the value and I used the profits to pay off my mortgages and right now am buying my first property all thanks to your teachings 🖤
Exactly ma investments are the key out of this economic crisis!
Same here ma
I recently invested in both crypto and stocks but with the current rise in Bitcoin, Crypto has delivered more than stock
Trading crypto has really become a lucrative way of making money especially with the instability In the stock market right now.:(
This 2020 has been the best year for the bitcion investors the corona virus didn't have much effect on them !
I am very grateful to have known this channel when I was 18 years old, it changed my mind and I believe it has been helping me to avoid several problems that the old one would have!
It's great to see your videos in my recommendation tab again.
It's believed that the best way to achieve financial freedom and stability is by investing
You're right, so far investment has been confirmed to be a sure means in gaining financial stability
Exactly.. investment is the best way to grow your wealth, I held stocks for a long time and invested in bitcoin, I'm 22 and I have about $48,000 investment profit despite the pandemic. It's really life changer
@@santiagomanuel3757 Wow that's nice how did you reach that so fast?
Investment are the stepping stones to success
Already invested in stocks and I can't get a good return from it
Two of my college courses got cancelled this semester so I'm working one full time and two seasonal jobs! Saving money now just in case there's another lockdown
I cannot say how good this video is I am definitely going to recommend this video ever single one of my friends. As always Matt you never cease to amaze.
@Matt D'Avella bro don't fake him. No one will believe you.
Just got rid of my PS4 rig this month, as I showed, but worth saying I’m already financially free and will share the goodness with others too! Keep doing your work Matt, did a huge shout out to you during my mininalism game wrap up yesterday!
"You could listen to them at home, while you're at home or while you're at home"
I just love this guy's sense of humor
For me it's all about sharing your craft. If someone here is looking for music/sound mixing/original soundtrack please hit me up!
Definitely need to go through my current expenses again and see what I can cut back on. Glad though posted this video so that it was brought back to my conscious mind! Great video as always!
Thanks Matt. Just the reminder I needed.
Matt, I really like your videos on minimalism, they've helped me a lot in the past and I'm very grateful for you to bring this perspective to so many people's minds.
However, I really don't agree with the sentiment expressed here and that is subcontextual to a lot of your videos: that most people have a hold over their finances, that they have the ability to take control over their finances by simply 'being more mindful' or more intellectual in where their money is going, and that this is where most people's issues stem from. A lot of people are in debt (myself included) or in poverty for reasons that are mostly not to do with making poor decisions, and to phrase it like this is just really dangerous. I know from the minimalism movie that you made that your perspective (and the mainstream one in the minimalism movement) is a very particular one - it assumes that someone is starting out from a middle class perspective, where they already have a lot of privileges. But I'm part of a generation where this sort of comfortable, middle-class lifestyle just isn't possible.
The idea that people are in debt mainly because they choose to buy a brand new car is immensely damaging, and promotes a kind of 'poor people are poor because they choose to be so' mindset. "That's why we have so much debt in America and around the world, it's because people are spending money that they don't have." Okay, so why don't they have that money? Firstly, because the minimum wage in the US has, in relation to inflation, not increased since the 60s. If it was at the same level at it was when it was first introduced, it would be $15 rather than $7.25. That means much longer hours for much less pay. People in the US also accumulate debt over more things now - some people, for instance, do so because there is no free healthcare system in place and they are stacking up debt to pay for being able to live. Without recognising that this is the case for a lot of people, the video seems to imply that these people can simply pay those debts off if they live at home or decrease their spendings. A lot of people are doing this, and it still isn't enough.
I really wish you'd adress this more, instead of focusing on this 'individual responsibility' perspective. It's so so damaging. These are structural issues. I get that this might not feel relevant to your experience, because you accumulated debt because of choices that you made. But this is not the experiences of most people. To suggest that we can just take individual actions to solve this is just to accept that this is it, this is just the way that life is, instead of fighting against it. People don't HAVE to be in debt from medical bills - the US can make healthcare free. You can put pressure on politicians to increase the minimum wage. These are things that people can fight through activism, so that these insane amounts of debt don't have to exist in the first place. I'm really sad that this isn't something that you've engaged with in your content, considering how large your platform is.
If anyone feels the urge to reply to this comment with some variation on 'this isn't what his channel is about' or 'maybe he doesn't want to make political content' then I just want to say this: you haven't read the news enough this year. You haven't seen the people suffering under the current economic system, one that is increasingly being built on the 'individual responsibility' system. You haven't seen people begging for money to afford food or medicine, basic things that everyone should be able to have access to, no matter what. And I encourage you to seek out these stories and then say that some people can choose to simply be silent on these issues.
you couldn't have said this better
This is really sobering and I have to admit coming from the place of privilege I exist in I didn’t even think of this until you brought it up, you did a fantastic job explaining this though, thank you for bringing this up.
Most of the people are in debt or poverty due to structural issues . You are absolutely right. If this is the case in a developed economy like US, imagine the situation in the rest of the world, where people are barely surviving.
@@Fatima-rs6bv thank you!
@@traderjoes7976 that's so nice to hear honestly, I was afraid I might be shouting into a void when I saw all the other comments haha
Matt: uploads a video
Me: I am speed!
Let's go, Matt!! I'm here for it!!
Thank you for making this video ! It comes at the right time !
I’ll never forget how the internet clowned Kendrick Lamar for buying his kid sister a Toyota Camry and called him stingy.
Zii Mpondo same💀 I think about it almost everytime i hear his song “humble”.
Sometimes I worry that savings videos like this can feel like they go too far towards the savings route at the cost of everything. Saving money for your future is essential, but it is also important to a budget for your hobbies that help you get through the daily grind.
I think these days that having right mind set is the key to solve every problems we encounter.
Thanks Matt for sharing your thoughts and experience!
Matt, I am a fan of your finance content and I hope to see more of it in the future. I didn't see a playlist of your financial content and I was wondering if you'd be cool to create one? Much love!