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A lot of people have poor money management skills. Before you can achieve financial freedom you need to understand how money works. In particular, how to save it and then grow it. If you are ready to discover how to manage your money for financial freedom, get my FREE Life Mastery Toolkit:
https://projectlifemastery.com/subscribe/?utm_medium=social&utm_source=youtube&utm_campaign=life-mastery-toolkit-promo&utm_term=how-to-manage-your-money-for-financial-freedom&utm_content=lc-youtube-description
Learn how to manage your money for financial freedom through this weekly ritual that I’ve developed for myself. All successful people have one thing in common: they are good money managers. It’s not how much money you make, but rather how you manage the money that you have. By taking control of your finances and managing your money effectively, you can get further ahead than others that make even more money than you.
To get access to the spreadsheet template, visit the blog post below.
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You look like Lex Luthor Lol great video as always
Haha thanks! It’s interesting being bald…
would love to see a video on self esteem specifically targeting hair loss
The head looks way better. you could even grow out a little stubble on the top and/or on the face as well and go for the bruce willis look.
Great advice and Tips. Thanks.
You are incredibly helpful. Thanks so much for all the useful advice. Brilliant spreadsheet idea. Everything is at a glance and straight to the point, unlike a lot of expense tracking apps out there.
Great video, every single one of your videos has helped me to add quality to my life. Thank you!!
Thanks for this video, Stefan! I knew I needed to organize both my business and my personal finances but I kept putting it off and hoping for the best. This video pushed me to take much needed action. It took TWELVE HOURS of wrk with almost no breaks but now I have all of my finances logged from Jan.-Jul. I need to make A LOT of changes but thanks to your great work (both PLM and KMM) I can do it NOW instead of “sometime soon” Keep up the awesome posts!
Thanks again Stefan!!! Great video and great info. Thanks for helping the world in such a manner and for having such a mentality and vision.
always love your videos keep it up!
Thank you for making it simple!! I see too many that are too detailed and then it becomes overwhelming- a million thanks and gratitude 🙂
My first impression was a gangster… Bold and muscular, a typical bodyguard for a crime boss…. Too smart, though)))
When of my friends shaved for the summer while looking for an IT position, lots of companies turned him down as “not fitting into the company profile”
I did this after I watched pink Floyd the wall back in the late 80’s and my eyebrows too not a good look and def. not the fashion back then. I really love your videos and they have changed my life. I know that you are going to be a house hold name. greetings from Australia.
Hey Stefan what you think about idea to make your own event about project “life mastery” something like Robbins did , but in your own way? It would be really great, writing here cause i can’t catch You on facebook hah.
Sure, I generally create an outline for an e-book first and come up with the title. I first just brainstorm as much as I can about what I want in the book, then I break it down into chapters/sections, then focus on writing each section.
Thanks man, now just have to internalize it 🙂
Hey Stephen, where does the tax money come from though? Is it withdrawn from the business before profits… Because i see its not included in this list!
Very good point. I actually have another spreadsheet for my business and I deduct the taxes there, and I pay myself a salary every month. My company pays my taxes though, but yes, I would definitely add taxes to the list and make sure you’re saving for it!
I thought in the past that 10% into a retirement fund was enough..It’s not..I’ve deferred 25% on average over the last four years. It grows by leaps and bounds. It cuts your taxes down even more also. Instead of investing 10% to retirement and 10% into yourself and 5% to charity. Defer the whole 25% into your 401k. Borrow small amounts from your 401k to invest in yourself if you need to. Cash to charity. NEVER. Don’t trust them. Instead, donate clothes, toys, can foods etc. Never money.
Good points. I personally have my necessities very low, and I probably save closer to 20-30% of my income. One thing I learned from John Templeton is that he saved and invested 50% of his income! The more you can save and invest in your future, the better off you’ll be for sure.
how do you keep that shaved head? Do you put shaving cream on your head and use a razor every day?
I shave it every 2-3 days with a razor.
Hahaha advice on how to manage your head shaved.
@Project Life Mastery i hope you did so for some sort of charity event or fundraising. just a little bit of hair would probably do so much more for you. i can see so for you. very few men actually look decent with a completely shaved head… just sayin’.
Thanks, I want to set up the kindle thing, waiting for this guy on elance, but i need to start pumping them out soon, lets talk. Came online this year, so i need to start working this.
Check out my Kindle Money Mastery program, I show you who I use and how I do it. Don’t go the elance route, trust me!
Hey, thanks, but why? And what are your prices? I want to submit it to create space, thanks again.
Thanks for making this video! Especially nice that you mentioned the books to read =) which helps in this area. I am now following you =)
thanks for sharing
I see a mention of John Templeton by you. He was the guy at the desk next to me in the mid-’80s. We got along fine. He was really quiet and so was I. After he left, I found out who he was and I laughed out loud! What a pleasant, polite, unpretentious man!
How do I change the year from 2013 to 2014 without the name of the month turning into numbers?
I just erased the whole year “2013”. (I mean lets face it, if you don’t know what year it is, making a spread sheet is the least of your problems.) Then I changed the name of the whole document to include the present year 2014. Each year we’ll start another clean document over again, and from having the year in the name, you’ll know what year they’re all from looking back.
you put a ‘ (an apostrophe) in front of it, and excel does not autocorrect what you’ve put in the box. for example: ‘July 2014 will stay July 2014 but the apostrophe won’t show once you exit the box/cell.
Thank you so much for this v blog Stefan. Everyone should watch this. What a different world we would live in if they taught this stuff in school! Great job 🙂
This came at the perfect time; I admit that I have very POOR financial skills yet I want a higher paying job. I make no more then $300 bi-weekly at a part time city job and I’m wondering if this can help?
Absolutely, start managing your money now!
Thank you, I’, glad I found your channel
You have explained extremely well.
Money comes handy when you have solid investing strategies. Three years back I invested in some shares but went into loss. I found http://buildtruewealth.net/ and they help to to invest like a pro. Now I am investing and reaping fruits of my financial strategy. Its a win win situation for me.
Needed this video – I have several streams of income coming in monthly but saving can be a challenge. Thanks for the vid!
+Project Life Mastery thank you so much!!
Cool Video!
I was a very bad money spender and I always having zero money by middle of month!
My Friend suggested to use this iPhone app called “spending money” by lokesh which tracks my spending and also on whom!
now, i am very wise and I already saved 1000$ in 20 days!
The song is the best to me xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Hi, great video! Could you please answer my two questions? What’s the difference between long term savings and financial freedom? e.g. where does the deposit for home ownership fall under? and where do you draw the line between fun and necessity?
So true. It’s very important to manage your money
Glad you agree!
+Project Life Mastery Hello, amazing video. I was wondering if you know any way of managing expenses by separating your money into separate checking accounts as your money comes in. Thanks.
what would you use your long term savings for? is that just money you keep forever and pass down to your kids and stuff? or is it used for something else? thanks!
It’s used primarily to have an emergency fund, then to save for long-term investments.
@Project Life Mastery hey Stefan, would you recommend putting the long term savings fund, or a percentage of it, into a TFSA instead of in a regular savings account?
@ilovesabian1n1 and I say TFSA because it’s like Canada’s version of a Roth 401k right? Which Tony talked about in his book which I wanna thank you so much for recommending!
Great video. Thank you.
you look so hot with the shaving head.
how can I use your template, I cant seem to be able to edit anything on it?
Hello, I am 21, and I am terrible at managing money, and as of now currently looking for a job. I am trying to get my life together and be on my own and focus on making the right financial choices. I believe this video helped a lot and gave me at least a focus of understanding and I will remember when you said “its not about how much money you make, its about how much you save.” Once I get started on my life, the best way I can I will definitely remember that and make smart investments in stocks.
Kenyae Shabazz go drive Uber.
Rich Dad, Poor Dad – Robert Kiyosaki
Millionaire Mind Intensive – T Harv Eker
Secrets of the Millionaire Mind – T Harv Eker
Richest Man in Babylon – George Samuel Clason
I’m not sure but ,if anyone else wants to learn about consolidated debt try Renkarter Amazing Finance Report ( search on google ) ? Ive heard some awesome things about it and my mate got cool results with it.
Thanks 🙂 Awesome books.
Multi Millionaire-Dom how can I learn to be as modest as you?
This is just superb, been searching for “financial goals” for a while now, and I think this has helped. Have you heard people talk about – Ferapt Freedom Fanboy – (do a search on google ) ? Ive heard some unbelievable things about it and my cousin got excellent success with it.
Nice Video clip! Sorry for butting in, I am interested in your thoughts. Have you researched – Renannah Tiyily Release (do a google search)? It is an awesome one off guide for learning how to get the ultimate millionaire mind minus the normal expense. Ive heard some incredible things about it and my friend Sam at last got amazing success with it.
where the spreadsheet link to download?
this is awesome, extremely helpful!
good advice, thanks
Thanks for the advice
survival skills in this modern world is money management!
+Wayne Tai True.
I’m so happy a made the right decision during this pandemic to invest under your platform and was able to raise enough money with Mr.Charles signals nothing but profit profit profit!! Contact him for help @Charles_forex09 on !nstagram.
where is the spreadsheet link.
+Ciara Corr You can access the spreadsheet template on the blog post here: http://projectlifemastery.com/how-to-manage-your-money-for-financial-freedom/
Wow u got back so quickly! Thanks! On your website!
Is there any way to update it to 2015??or this just a sample
Looks like I can’t edit it.
+Ciara Corr If you click on File, and then Download As, you should be able to select a file type. If you save it as an Excel file, you should be able to enable editing.
Hi Stefan.I like the concept of % distribution of ones income. However if one has a personal loan or a car loan does that go into 55% of necessities or others. Am a bit confused about this and would really like your help on this.
that goes into neccesities althoug
thank you,everything was so simple and easy to understand.i love you’re concept about everything and the idea to invest in my self was just truly amazing.i look forwards to managing my money.
what percentage category would debt fall into?
Love the channel. Love the blog. A few questions. Do you recommend using separate bank accounts for your different income streams? And if so, isn’t that a nightmare to keep track of? Also do you recommend opening business accounts at first or will regular checking accounts work?
+Drew No it’s actually a lot easier to have multiple accounts because at the end of the year you can clearly see what was spent/earnt where.
interesting points,if anyone else wants to uncover consolidated debt try Renkarter Amazing Finance Report (do a search on google) ? Ive heared some great things about it and my mate got success with it.
My single income is £6,297.27 a month, my out goings per month (2 cars on finance £1200, 1 mortgage £2,593, house bills £800, Insurances £400, debt £300*interest only/minimum payments*, Petrol and food £1500, Hobbies/eating out/fun £1500.
Income £6,297.27 per month
Outgoings £8293 per month
I accumulate about £15,000-£20,000 of debt a year but I use my bonus to clear of my additional debt, NOT clearing current debt minus about £2,000-£3,000. I’m fucked plain and simple.
I am in debt for £59,000 as of March 1st, not checked since.
My mortgage is about £670,000 remaining so about 40 years left.
I need help.
+Drumedley What’s the plan?
+Drumedley Hey,My suggestion is to start living like a “spartan”.. simplify your life,buy cheaper foods,clothes ,fun and hobbies..Most of it you can do very cheapily or for free.. My income is around 700 euros a month,I have no debt,my car is broken and I drive with bus to work… I pay rent 100 euros and 100 is taxes for one old room apartment.. I live off 100 euros for food,I buy clothes for 50 euros a month,hobbies and fun also 50 euros,300 euros I save for myself and I spend it for business building .. I don’t know where you live or how much food costs,but I make nice meals for just 100 euros a month for myself.. SIMPLIFY YOUR LIFE..
@Parvaiz Muhammad is there a way to convey this same message without the judgment? The fact that they realize they need help and put themselves out here tells me not “being a victim” is exactly what they are trying to do. We all have our ways of coping and living life whether they are good for us or self sabotaging and because we’re all so different how we manage or mismanage our lives looks different too. This person has a deep and complex story wholly separate from yours or mine or anyone else’s and placing ourselves on a perch of superiority because the way someone else lives or struggles or copes is not the way we have in the past or currently live or struggle or cope would actually mean we still don’t get it. “Tough love,” being a “straight shooter” or unapologetically blunt is not a moral virtue, especially if you don’t care about how the message is received because at that point you have to wonder why did I feel the need to comment at all?
@Parvaiz Muhammad
I don’t disagree, but my point was to consider your audience(especially if you really want them to consider the advice). Yes sometimes that kick in the ass is what one needs, but not everyone needs or responds to “tough love” especially from someone they don’t know or trust like a stranger on the internet who doesn’t know anything about them other than a paragraph posted on youtube.
@Parvaiz Muhammad
tbh, I kind of agree lol in the sense of putting your business out here on youtube of all places
Interesting to watch but i actually use divine guidance on how to use my money. This video helped me revive my views and ways.
Pay yourself first is the most important and powerful rule. It works and I safe more and more money.
i would like to only spend 55% of my income of necessities but i have so little student loan that my rent is taking up 80% of my budget :/ need to get more money…
Excellent video. I will start implementing some of these strategies
can you do a video on giving more in depth and reinvesting profits?
Very good video man. A massive help. I actually earn a good salary and there are people that earn less than me but are making their money work much better for them than I am. I will take this advice and use my money more effectively. Thank you so much.
Hi, thank you for the video. When I downloaded the template it was blank…
Im sorry, it was on a different page “sheet 1”
Thank you very much brother!!!!!!!!!!
Thank you man, this spread sheet is very effective!!
how do you manage your money at a Casino?
Rich Dad Poor Dad is a good book.
This Is Epic A classic indeed!
Thank you for this video. I want to create this weekly routine.
Does TSP/IRA fall into the Financial Freedom 10% or the Long term Savings 10%?
is the spreadsheet still available ?
Yes, the spreadsheet is still available .You can access the spreadsheet template on the blog post here: http://projectlifemastery.com/how-to-manage-your-money-for-financial-freedom/
@Project Life Mastery looks like the spreadsheet is not available anymore on the blog post?
Thanks a lot for making this video, Stefan!
I’ve been saving in a fund for a couple of years now, but I haven’t had control over my spendings or earnings at all this last year.
You reminded me of how important it is to be aware of the money flow; I have started a weekly review of it; and “Secrets of a Millionaire Mind” is firmly placed in my amazon list 🙂
Hi thank you for your video I decided recently to budget my money the way T Harver Eker explains in his video but I am having problems how to spread a certain amount of money into different percentages of the accounts and at the end there is money out for example. Let’s say out of hundred dollars if I star taking off the percentages for the ACC’s at the end of the list I end up with money extra it isn’t supposed to be that all that money I have at hand has to go to all the ACC’s depending on the percentages of each of them I have been going crazy with this any advise I appreciate it thank you
love from Tanzania,East Africa
I waned you just to tell us not read books
all I do is cook I don’t have money like that that’s way I want to see what you got for me
It would mean the world to me if anyone could help out even just a little 🙂
https://www.leetchi.com/c/houseshare-ashley
Man I really wanna be super successful and be financial freedom
Start by learning how to speak and write haha
konrád Peterka ??
@Shab. B I did not mean that seriously, I just wanted to point out your grammar mistake. It’s “be financially free”
interesting .. I definitely have to work on that..
wow thanks for the help i watched this for a school project and it helped
I can’t find your financial spreadsheet on your blog? Can you send me the link please?? Thank you!!!
Wow
Last month i spent 4400 dollars and i had no idea how much i overspent until i added it all up. My savings have dwindled so i am trying to get on top of this.
great infos, thx!
So thankful for this video! Hope to see my net worth grow after seeing this. Any recommended videos?
Thank you Jose!
Here’s another great video you will love: https://youtu.be/rqbZyviDnfU
I love watching your old videos and seeing where you came from!! Such an inspiration!!! Thank youuuuu
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Such bold.
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Thank you!
hi I can not find the spreadsheet ? 🙁
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