Frugality gets a really bad rep, yes, drink as many lattes as you like, but be frugal with bigger things, ie cars, houses, luxury items. I left uni 15 years ago with 25k debt, worked hard in corporate career and also invested in property (renovations, rentals, house hacking) and am at FIRE (although will continue to work forever....). Frugality on larger things has made a HUGE difference to the speed of my wealth creation, and is still the easiest thing to control.
"You look after pennies, pounds look after themselves" - old English saying When a person is starting out in life or restarting after they got burnt (divorce, bankruptcy, business failure, being scammed. lawsuit or any other major mishap), they can only penny-pinch, they only have the latte money spare and if they spend every penny they have today as you suggest, they can never be in a position to start thinking about investing in properties and FIRE
Your channel is a breath of fresh air in a sea of sewage. So hard to get sensible information these days. Mainstream and social media have unfairly given garbage opinions equal footing to logical, sound advice. So tired of influencers hyping stocks on flimsy ideas, perpetuating the house of cards in crapto-currency and get rich quick schemes. Keep doing the right thing!
Love the straight talking from you Sasha. I’m a mother to a toddler and I’m also a student in Computer Science and when I get an hour to myself I just want to chill and do useless things. But do the grind, I must. Not just for my sake. More of these type of videos would be amazing! Thanks.
Love these videos, just recently started investing, and these videos are helping me be sensible and keep it real unlike other financial TH-cam videos out there. Keep it up Sasha!
Really like your channel, I do buy myself a Starbucks, but live frugality. I get water at restaurants & just a main dish. I see others spending money, like on clothes, cars, trips. To be careful with these has made a difference to my cash balance which I then can invest.
Great breakdown of understanding financial independence, Sasha! In my opinion, the true freedom comes from the ability to effectively manage money and understanding how much you have coming in as well as where it is going. Simply applying the 50/30/20 budget can help immensely on someone's journey. From there it is all about generating more income (passive is the best stream) for true financial freedom!
This is possibly the most useful video on financial freedom that I've ever seen on TH-cam. People will sell anything for views so this content is necessary and valuable, so thank you.
I've watched your channel grow and really appreciate your content. Please promise me that the more subscribers you get, you won't start going against what you say in your videos by doing more click bait videos like everyone else does! We need this real content not click bait xx
@@SashaYanshin click bait titles are acceptable haha. I just love your uniqueness with your content and not putting out the same "steps to become a millionaire.." without that realness of needing to put in the hardwork. Anyways, either way ill probably keep watching 🤣
It needs to be said that there is no quick way to financial independence, it takes time and effort, and its better to set a realistic goal with small steps to ensure you are on the right path. I have milestones on my pathway, but I am lucky in that I have the ability and a partner who understands what Im trying to achieve.
Good luck on the journey Lawrence - remember that it counts most when it feels the toughest because that's where most people jump off or slow down so keep it up!
@@SashaYanshin I listen to your channel the most, I pay attention to a couple of other TH-camrs, but I make my own decisions. I test the waters and undertake small scale investments in areas Im interested in and build upon that. Like you say, Im comparing myself to only myself, and my own budget plans.
Great video and some important home truths With the frugality side of things I will never agree with living like a monk for the first 20 years of your adult life and certainly wouldn't swap my past travels for an extra few quid in later life. So yes, look at opportunities to increase your income, not reduce every possible cost
Social media has probably kept more people from forging ahead than it’s helped. Time to stop doom-scrolling and begin using our time more wisely. Cheers Sasha!
People compare themselves to either the biggest winners OR (in most cases) fake impressions of the biggest winners and neither is particularly helpful. 👍
Like it sascha, listening to you makes me wonder how many of the people who watched will practice the advice given and are actually ready to understand what it takes.
Great content, I have 3 potential paths/plans that I am constantly working on and as you say it is not easy or overnight, I am about to start on my 4th parallel path thanks to your content on SIPPs, key ingredients are commitment and self education
Thank you for your excellent and down to earth advise. I so much agree. I’ve been investing only since I retired in 2012. I thought that a fairly frugal retirement was on the cards for me. I’ve made many mistakes but hopefully I’ve learnt my lesson from them. I am far better off now than when I retired. Investment is the key! I don’t have a clue about trading.
Best way to invest is parents start when your a kid or, when you get a job, stay at home invest 50 - 75%, then as you earn more don't spend all the extra. If you dud that for 10 years you won't have to save much more afterwards if you want to retire at 70 e.t.c
Right off the bat, you are mistaken, implying that "saving" money and watching what you spend money on doesn't get you there. You jump right into owning assets and having increasing assets forgetting what you need to buy those assets-----you need capital, capital you get by controlling your expenses and living on less than you make. This is a severe oversite and very basic to FI and FIRE fundamentals. Focusing on costs is not highly inefficient at all. People who cannot manage the money they already have are suddenly going to do better with more? There is no doubt that making more money can increase investment capital but controlling spending and frugality is the very foundation of any sound investment plan. For most people, I'd say, it's the best way to start. The optimum thing would be to do both, control costs and increase income. I agree with you about the grind, though. People have to be willing to put in the time and effort especially when it comes to finding great investments.
Save costs on buying cars, houses e.t.c even buying properties in a lower council tax band! Buy the worst house in best area or an OK house in an OK area. Don't buy a new car buy one 4 - 8 years old from a dealer can usually get a service plan and 0% finance. Council tax bands van save about 200 a year.
A much needed video. We often get told misinformation and focus on the wrong areas. You address some important points on this videos. Thanks for sharing.
Nice pivot towards self-actualisation strategy today 👍🏻 A bit surprised you bother with writers. All your thoughts are spontaneous: no writer's block, rounds of revisions, or reaching for a thesaurus!
Hey Sasha, thank you for the video. I am a big fan of your work. You mentioned something about difficulties finding people to create content for your projects. How can I contact you with that regard?
Hey - not necessarily difficulties - just a case of me being picky. :) Feel free to get in touch via email! (go to the About section on my channel on a computer)
i have question, do you think it would be better to save up for uni , or invest that money that you planned to save up into stocks and index funds instead and take a student loan to pay for uni expenses?
Do you have any rental properties Sasha? We are thinking of moving to our neighbours house (bigger and nicer than ours), but keeping our current house to rent out
I get what your saying, everything does take work. However, to say no one has ever become a millionaire from a crypto coin is absolutely absurd... yes, you have to do your research and yes, possibly some luck stirred into the mix but my god it can definitely happen if you stay dedicated & patient enough.
I didn’t say that. I said that the the viewer won’t get rich from investing into a random new token. Also the absolute categorical vast majority of investors into crypto tokens will not become rich. This is an unfortunate truth. The ones that do are the scammers launching them and their mates.
Great video Sasha. I have been a content writer professionally for years and would love to get in touch to see if my talents match your needs. If you're interested in discussing this in more detail I am happy to do so.
I have talked about Lucid before - last time around I did say I expect the price to fluctuate, but basically trade sideways into Q1 and it looks like I wasn't far off :)) Will do one when there's some good things to talk about!
@@LoganSeacrest The data they share (more like don’t share) and the way they talk about their commercial model is very very different to Fiverr - makes it very hard to make an equivalent set of assumptions but I am looking at them more closely. No position right now.
I like bits from both of those but also strongly disagree and dislike with chunks as well. I just saw a load of of these Financial Independence videos recently so thought I'd share some thoughts!
@@SashaYanshin love the video! Yeah Kiyosaki endorses being up to your eyeballs in cheap debt leveraged against assests. All well and good but interest rates on the climb let's see how that looks in a few years... A whole generation out there who know nothing but cheap, easy credit. That may (or may not) be about to change.
Nice Video Sasha If you are looking for more topics to discuss on this channel, I’ve got a feeling your audience will enjoy how you use your SSAS (I’m sure you’ve got one 🤔)
I don’t actually have/use one - currently all in the SIPP. 👍 Also it’s such a specialist topic (not many people will have the luxury of access) that doing a whole TH-cam video probably won’t get any views.
@@SashaYanshin - I agree it’s a very specialist topic, however I think your audience will be interested in an overview at a high level. The concept of reducing your tax bill, tax free growth, legacy planning, etc. Just name the video ‘pay less tax’ or something like that!!
Haha. I don't think it actually applies to me as I'm a partner - this is a general user fair use restriction. 👍 Even if it did though - this just propagates the message of diversifying your income streams. Working on that bit!
Well now i know why he so upset about possible deflation. It would really suck if all of his assets loss value, need more inflation lots of inflation lolololol
Ragging on FIRE again 😂😂 You're only partly right. Yes not buying .a coffee won't directly make you richer, but changing your spending habits will help. Earning extra money but keeping the same spending habits also won't make you richer. We generally expand our spending as our income increases It's the changing in these spending habits that's the important link between what you're saying.
Not so much ragging as just trying to highlight where priorities need to lie. I tried to mention in the video that of course you have to manage spending, but the problem for me is that too many people seem to focus disproportionately on that bit when they should instead be disproportionately focusing on the other side of the equation 👍
Frugality gets a really bad rep, yes, drink as many lattes as you like, but be frugal with bigger things, ie cars, houses, luxury items. I left uni 15 years ago with 25k debt, worked hard in corporate career and also invested in property (renovations, rentals, house hacking) and am at FIRE (although will continue to work forever....). Frugality on larger things has made a HUGE difference to the speed of my wealth creation, and is still the easiest thing to control.
"You look after pennies, pounds look after themselves" - old English saying
When a person is starting out in life or restarting after they got burnt (divorce, bankruptcy, business failure, being scammed. lawsuit or any other major mishap), they can only penny-pinch, they only have the latte money spare and if they spend every penny they have today as you suggest, they can never be in a position to start thinking about investing in properties and FIRE
Your channel is a breath of fresh air in a sea of sewage. So hard to get sensible information these days. Mainstream and social media have unfairly given garbage opinions equal footing to logical, sound advice. So tired of influencers hyping stocks on flimsy ideas, perpetuating the house of cards in crapto-currency and get rich quick schemes. Keep doing the right thing!
Thank you!
Love the straight talking from you Sasha. I’m a mother to a toddler and I’m also a student in Computer Science and when I get an hour to myself I just want to chill and do useless things. But do the grind, I must. Not just for my sake. More of these type of videos would be amazing! Thanks.
Love these videos, just recently started investing, and these videos are helping me be sensible and keep it real unlike other financial TH-cam videos out there. Keep it up Sasha!
Thank you! I'm glad and hopefully I'll keep delivering on that realism front! 👍
So many ppl need to hear this ! Especially younger ppl
Thank you!
Really like your channel, I do buy myself a Starbucks, but live frugality. I get water at restaurants & just a main dish. I see others spending money, like on clothes, cars, trips. To be careful with these has made a difference to my cash balance which I then can invest.
This is why you are the man! Assets build wealth not scrimping. i wish i knew this earlier.
Ha! Thanks Ian!
Very, very sound advice, not just financially but in life generally too. Thanks Sasha! 😊
Thank you!
Love your videos brother
Thanks Jakub!
Great breakdown of understanding financial independence, Sasha! In my opinion, the true freedom comes from the ability to effectively manage money and understanding how much you have coming in as well as where it is going. Simply applying the 50/30/20 budget can help immensely on someone's journey. From there it is all about generating more income (passive is the best stream) for true financial freedom!
This video is simply gold. I've been following you since the beginning, and you are truly an inspiration, I really like your "no BS" approach🤗
Thank you Luca!
Simple, sensible, achievable advice, but extremely worthwhile, thank you for the reminder.....
Thanks Neil!
This is possibly the most useful video on financial freedom that I've ever seen on TH-cam. People will sell anything for views so this content is necessary and valuable, so thank you.
Thank you! 🙏
Thank you Sasha. You reminded of what matters and where to focus for my growth. Thank you.
Go go go!
genuine advice, good one !!
👍
Good story of Truth... Follow the process.. + Time... Thanks, brother!
Thanks Curtis!
Thanks Sasha
👍
Brilliant advice. Best I have heard.
Thank you!
Grind magic - What a great analogy. Love the perception of needing to do some work and be sensible 👍 awesome content.
Thank you!
I've watched your channel grow and really appreciate your content. Please promise me that the more subscribers you get, you won't start going against what you say in your videos by doing more click bait videos like everyone else does! We need this real content not click bait xx
I do sometimes go with a little more clickbait on the titles and thumbnails 😄 The content is staying as it is 👍
@@SashaYanshin click bait titles are acceptable haha. I just love your uniqueness with your content and not putting out the same "steps to become a millionaire.." without that realness of needing to put in the hardwork. Anyways, either way ill probably keep watching 🤣
Magnificent work. Thanks.
👍
You got nice content Sasha! Congrats!
Thanks!
Love this type of ‘no nonsense’ content! Keep it up
:) Thank you!
It needs to be said that there is no quick way to financial independence, it takes time and effort, and its better to set a realistic goal with small steps to ensure you are on the right path. I have milestones on my pathway, but I am lucky in that I have the ability and a partner who understands what Im trying to achieve.
Good luck on the journey Lawrence - remember that it counts most when it feels the toughest because that's where most people jump off or slow down so keep it up!
@@SashaYanshin I listen to your channel the most, I pay attention to a couple of other TH-camrs, but I make my own decisions. I test the waters and undertake small scale investments in areas Im interested in and build upon that. Like you say, Im comparing myself to only myself, and my own budget plans.
great information mate!
Life changing advice
As you say with the goals, you have to begin with the end goal in mind but don't forget the steps that achieve the goal!
Great video and some important home truths
With the frugality side of things I will never agree with living like a monk for the first 20 years of your adult life and certainly wouldn't swap my past travels for an extra few quid in later life.
So yes, look at opportunities to increase your income, not reduce every possible cost
👍 I am glad I am not the only one who thinks some of these mantras don't actually make sense.
This is a very, very good piece of advice! Thank you, Sasha!
Thanks Maria!
That's sound advice. Thx
👍
Brilliant video
Thank you!
Refreshing!
Thank you!
1/3rd leverage is a healthy place to start questioning and limiting further leverage, YMMV.
Respect !!
Can't appreciate this video more ☺️
Thank you!
Very well presented, as always, thanks 👍
I also believe one mustn't compare themself with others but themselves only..
Thanks!
Social media has probably kept more people from forging ahead than it’s helped. Time to stop doom-scrolling and begin using our time more wisely. Cheers Sasha!
People compare themselves to either the biggest winners OR (in most cases) fake impressions of the biggest winners and neither is particularly helpful. 👍
What a great video
Thanks!
Really brilliant video Sasha. Particularly liked the story on Andrew Wiles :)
Thank you!
As always , great insight and very thought provoking material. Great job. Love your channel and keep producing great content.
Thank you so much! Really appreciate that!
Excellent
This vid is so helpful 👌👌👌
Thank you!
Like it sascha, listening to you makes me wonder how many of the people who watched will practice the advice given and are actually ready to understand what it takes.
If I can maybe help 1 person through a few of these, it's worth it! 👍
Inspiring video thanks
Thanks!
Inspirational stuff Sasha, thank you!
Thanks for watching!
Great content, I have 3 potential paths/plans that I am constantly working on and as you say it is not easy or overnight, I am about to start on my 4th parallel path thanks to your content on SIPPs, key ingredients are commitment and self education
Thank you for your excellent and down to earth advise. I so much agree. I’ve been investing only since I retired in 2012. I thought that a fairly frugal retirement was on the cards for me. I’ve made many mistakes but hopefully I’ve learnt my lesson from them. I am far better off now than when I retired. Investment is the key! I don’t have a clue about trading.
Best way to invest is parents start when your a kid or, when you get a job, stay at home invest 50 - 75%, then as you earn more don't spend all the extra. If you dud that for 10 years you won't have to save much more afterwards if you want to retire at 70 e.t.c
Love your eloquent speeches!
Thank you! :))
Genius!
👍
Great content Sasha. 👌
Thank you!
Brilliant video 👏
Thank you Matt!
Good stuff thanks
Thanks Kevin!!!
Silver Physical, Tesla, bitcoin...job done
Tesla has been a big part in making me wealthy, don't go for silver or especially gold and bitcoin scares me.
Very good tips, but there are only 24 hours a day. You can only do so much work to earn more money. We need to think more passive income wise.
Absolutely agree. And I preach that line over and over but there's only so much I can cram into one video. 👍
@@SashaYanshin Thanks, this is true
Right off the bat, you are mistaken, implying that "saving" money and watching what you spend money on doesn't get you there. You jump right into owning assets and having increasing assets forgetting what you need to buy those assets-----you need capital, capital you get by controlling your expenses and living on less than you make. This is a severe oversite and very basic to FI and FIRE fundamentals. Focusing on costs is not highly inefficient at all. People who cannot manage the money they already have are suddenly going to do better with more? There is no doubt that making more money can increase investment capital but controlling spending and frugality is the very foundation of any sound investment plan. For most people, I'd say, it's the best way to start. The optimum thing would be to do both, control costs and increase income. I agree with you about the grind, though. People have to be willing to put in the time and effort especially when it comes to finding great investments.
Great video
Thank you!
All cats love fish but fear to wet their paws
Save costs on buying cars, houses e.t.c even buying properties in a lower council tax band!
Buy the worst house in best area or an OK house in an OK area. Don't buy a new car buy one 4 - 8 years old from a dealer can usually get a service plan and 0% finance.
Council tax bands van save about 200 a year.
A much needed video. We often get told misinformation and focus on the wrong areas. You address some important points on this videos. Thanks for sharing.
Thank you! Appreciate the comment!
Which is better? Orca or freetrade?
This was a good and important video, glad you decided to make it! :)
Thanks! Glad you enjoyed it!
Nice pivot towards self-actualisation strategy today 👍🏻
A bit surprised you bother with writers.
All your thoughts are spontaneous: no writer's block, rounds of revisions, or reaching for a thesaurus!
The writers are for my websites. I am building a little website factory…… 👀
Hey Sasha, thank you for the video. I am a big fan of your work. You mentioned something about difficulties finding people to create content for your projects. How can I contact you with that regard?
Hey - not necessarily difficulties - just a case of me being picky. :)
Feel free to get in touch via email! (go to the About section on my channel on a computer)
Well said……thanks for the video 😊
👍
great vid
Thank you!
Great advice. Regularly reassessing and adjusting your plans and goals is also important.
Thank you!
i have question, do you think it would be better to save up for uni , or invest that money that you planned to save up into stocks and index funds instead and take a student loan to pay for uni expenses?
Do you have any rental properties Sasha? We are thinking of moving to our neighbours house (bigger and nicer than ours), but keeping our current house to rent out
Not yet! One for the future! :)
Cheers... Saying it how it is. 👍
Thank you!
I get what your saying, everything does take work. However, to say no one has ever become a millionaire from a crypto coin is absolutely absurd... yes, you have to do your research and yes, possibly some luck stirred into the mix but my god it can definitely happen if you stay dedicated & patient enough.
I didn’t say that. I said that the the viewer won’t get rich from investing into a random new token.
Also the absolute categorical vast majority of investors into crypto tokens will not become rich. This is an unfortunate truth. The ones that do are the scammers launching them and their mates.
Smashing the like button bruv, quite a good video
Thank you so much!
Great video Sasha. I have been a content writer professionally for years and would love to get in touch to see if my talents match your needs. If you're interested in discussing this in more detail I am happy to do so.
Get the feeling that Sasha isn’t a fan of Dave Ramsey 😂
When are you going to make video on Lucid?
I have talked about Lucid before - last time around I did say I expect the price to fluctuate, but basically trade sideways into Q1 and it looks like I wasn't far off :)) Will do one when there's some good things to talk about!
Talking sense as always. Where can we apply to become one of your writers ;)
I constantly have ads on Upwork! 😃 Apply away!
@@SashaYanshin Have you ever done a stock analysis on Upwork? I know you like Fiverr, and Upwork's business model seems similar.
@@LoganSeacrest The data they share (more like don’t share) and the way they talk about their commercial model is very very different to Fiverr - makes it very hard to make an equivalent set of assumptions but I am looking at them more closely.
No position right now.
This is a mixture of "Rich Dad, Poor Dad" and "I Will Teach You To Be Rich (Ramit Sethi)" - Great lessons to be honest!
I like bits from both of those but also strongly disagree and dislike with chunks as well.
I just saw a load of of these Financial Independence videos recently so thought I'd share some thoughts!
@@SashaYanshin love the video! Yeah Kiyosaki endorses being up to your eyeballs in cheap debt leveraged against assests. All well and good but interest rates on the climb let's see how that looks in a few years... A whole generation out there who know nothing but cheap, easy credit. That may (or may not) be about to change.
My exact philosophy Sasha
good! People agree! 😆
Another excellent video. How does he do it?
Thanks so much! :))
I have to work hard...damn. People are better looking...damn. Good vid Sasha
Thank you and sorry! :)))
Nice Video Sasha
If you are looking for more topics to discuss on this channel, I’ve got a feeling your audience will enjoy how you use your SSAS (I’m sure you’ve got one 🤔)
I don’t actually have/use one - currently all in the SIPP. 👍
Also it’s such a specialist topic (not many people will have the luxury of access) that doing a whole TH-cam video probably won’t get any views.
@@SashaYanshin - I agree it’s a very specialist topic, however I think your audience will be interested in an overview at a high level. The concept of reducing your tax bill, tax free growth, legacy planning, etc. Just name the video ‘pay less tax’ or something like that!!
Brilliant video - thought provoking. Thanks Sue 👍😀
Thank you Sue!
Go on Sasha, you are clever guy indeed!
That is very kind! Thank you!
💚💜💙
👍
Sad news about freetrade for you I'm sure 😢
What happened with freetrade?
You can only get 10 free shares per month now so I'd be crying if I was Sasha
Haha. I don't think it actually applies to me as I'm a partner - this is a general user fair use restriction. 👍
Even if it did though - this just propagates the message of diversifying your income streams. Working on that bit!
Well now i know why he so upset about possible deflation.
It would really suck if all of his assets loss value, need more inflation lots of inflation lolololol
Ragging on FIRE again 😂😂
You're only partly right. Yes not buying .a coffee won't directly make you richer, but changing your spending habits will help. Earning extra money but keeping the same spending habits also won't make you richer. We generally expand our spending as our income increases It's the changing in these spending habits that's the important link between what you're saying.
Not so much ragging as just trying to highlight where priorities need to lie. I tried to mention in the video that of course you have to manage spending, but the problem for me is that too many people seem to focus disproportionately on that bit when they should instead be disproportionately focusing on the other side of the equation 👍
If you aim at nothing, you'll hit it every time!. ZZ
Perfect way to achieve all of your goals! 👍😂