Here is the biggest problem of financial minimalism, what you can do about it, and how this could end up improving your finances and investing career for the rest of your life – enjoy! Add me on Instagram: GStephan
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The way I see it, Financial Minimalism is just about taking a simple, uncomplicated, and bare-bones approach to your FINANCES, learning to live on LESS, and still getting the same Joy you would, normally, as if you had spent more. By doing that, you can lead a more financially flexible lifestyle, with less obligation, and that gives you more freedom to pursue what you REALLY want to do…like smashing the like button…so it’s all about cutting back on what DOESN’T matter, so that you can spend MORE on what does.
However, it takes work. It’s a constant battle of prioritizing your expenditures, really paying attention to where you get the most value, not giving in to immediate gratification, and sticking with it long term. The end goal is about maximizing what you have RIGHT NOW, and investing the difference so you can maintain the financial security that allows you to pretty much do whatever you want, and walk away from whatever you don’t like.
But, there’s also ANOTHER side to this that isn’t really talked about much…and that’s the fact that, sometimes – reducing expenses, and saving as much as you can, can only take you so far. You can only save so much…until, at SOME point, you literally just don’t have anything more left to save – and then you’re stuck.
That’s why there ARE downsides to saving too much, as hard as that can be to believe. What’s the point of saving everything if you can’t do what you really enjoy…if you can’t take the vacations you want, or get the life experiences that you otherwise would have, if you just had more money?
And that’s why Financial Minimalism is, in a way…just as much about MAKING MORE MONEY – and MAXIMIZING your value – as it is about recognizing what you want, and what’s important.
This reminds me of an old reddit thread posted a few years ago with the title: “Build the life you want, and then save for it” – link here: https://www.reddit.com/r/financialindependence/comments/58j8pc/build_the_life_you_want_then_save_for_it/
From this, MrLlamaSC recommended that the solution was to first figure out what you want out of life, find out how much that’ll cost – and then develop your investment and savings plan around THAT. Really think to yourself – without money getting in the way – what’s ACTUALLY important to you?
And second – this post also recommended leaving a little room for new experiences. After all, our priorities change over time and that’s completely ok. So give yourself some wiggle room to pay for that upfront, and plan that into your lifestyle and overall savings goals.
And while it’s certainly worth it to be mindful of your spending, and not live above your means…it’s also just as important to think about the bigger picture, and realize that life isn’t meant to be enjoyed in the distant future…you can still have a chance at that, NOW, within your means, by prioritizing your life around that.
This is why MAKING MORE MONEY has just as much of a place in Financial Minimalism, as – lets say – reducing expenses. And, instead of seeing the two as polar opposites…you see them as complementing one another, to get you closer to your goal of building the lifestyle you want – and then having your investments pay for it.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
109,000 views in one day. Inspiring.
Yo you need to stop
Yelling at the camera
Nothing you say makes sense
I watch every single second of your videos from beginning to end before bed — ty!
130$ for 100$ after tax?? Cries in Belgian. I got a raise of 125€ and that’s about 35€ after tax… (and that means that my boss actually had to pay about 175-200€ for the raise)
Also. If you get an offer for more money than your old job you don’t have to necessarily switch. You can try to use it as a leverage. “Hey I got an offer from company x for $1000 more and I was thinking of switching”. See how your current employer will react. Maybe they will match the salary or at least give you a hefty raise if they see you as an important or replaceable worker.
ITT: you can’t save more than 100% of your income
Why would someone post a video like this without sharing the link to the cats video! 😛
lol
Thanks for posting Graham, I wish more financial people would discuss cashflow as a metric to watch and track. Also thanks for smashing that 20 cent ice coffee like a suburban smashing gasoline.
Good video but far too many ads =-=
If I dont want to take any loans from bank, do I still need credit card to buold the credit score?
I have witnessed so many people tempted by the card to overspend and end up in credit debt because of it.
Not sure if losing to the temptation is worth the small cashback and free travel from the credit card.
Credit cards are only bad if you are not paying it off fully every month. Otherwise you’re paying interest and losing money
Wait that’s what financial minimalism is I always learned it as cutting out all expenses that are Not needed
I think a calorie “budget” is such a good analogy that fits so well. I agree cutting back on some food is way easier than doing boring cardio (which is insanely time consuming).
I think this is something Grant Cardone talks about often. Like frugality only helps you so much until it kinda traps u.
I have one important question.
My friend is a trader of crypto on binance and he introduced me to a company called Monaleza. They don’t operate websites and I was given a unique code to join, available only for me. I had $20k and I gave the company $10k to trade on my behalf at beginning of february.
I traded my $10k on my behalf and they traded the other $10k on their behalf, the only difference is that they would take a commission of the profits. Within 2 weeks I had $61k in my binance account ( proof prnt. sc/r1xuje ) and I am thinking of stopping. The company made the most money and I made some as well but I was lucky. I need advice, should I stop and take all money out?
Also I think it’s useless to share the Monaliza’s email since nobody will get help unless you have like minimum $10k for them to invest on your behalf and I think if you have a joining code.
demonetized 🙁
I always thought this way ever since I was a little kid and it makes me cringe everytime whenever I see friends or family members throw their money away on things that wont help them in the long run
so true
Fair share?? 😂 😂 😂 😂
I make 20 000 $ a year 🙁
Its not necessarily about how much we make. Whats more important is how much were spending and why were spending it.
@MATT’S MILLENNIAL MONEY Yes it is about how much you make i managed to save 10 000 this year I am very good at saving but even saving half of my salary is not a lot of money btw net this year I made 23 000 saved 10 000 I live in Montréal, Canada even if I were to do this for 10 years i would only have 100 000 which is basically what this guy made per year as a real estate agent
I went through this debate in my head when deciding to go back to university. I had to give up a full time job and some of my savings. But now I am almost a CPA and making more than I ever would have while trying to save every dollar in my old career. Finding the balance between investing all you can and still building the life you want is super important!
INVEST IN YOURSELF FIRST
Graham, we need an update on your remodel!
true
I especially like the part about not buying things to impress others or to make yourself feel better, but rather spend money on experiences. And the bit about the cat videos.
Side note: After the video was a commercial for expensive hand-crafted Italian watches, which I had on in the background just to help you profit from it. I already have a clock on my phone and will never have an expensive time-piece.
Trying to impress others stems from our personal insecurities. Only do things which make you happy long term. I started a YouTube channel and Im loving every minute of it
YouTube- how many ads do you want?
Graham- yes.
Your T-shirt does not love minimalism though… that collar is dying and not doing you any favors man 😂
You really like cat videos?! lol
I love your videos. I am starting to make real estate videos as well! Great way to track your progress!
lol…time to buy another tshirt…the neck of that one is toast….I agree with everything in this vid…the math is super simplified, but other than that (and the tshirt) great content…
Graham I’m 15 and trying to learn how I can invest when I’m of age, but right now I can invest in mining crypto currency. What is your view on it and would you recommend it?
Making more money is hard. I just need to make 40 to 60k a year while doing literally nothing in 15 to 16 years😁. That way I can spend just 20k per year and invest the rest (to avoid most taxes) and then invest 20 to 30k a year the next year to be able to spend like 25k by then, rinse and repeate, until I get to 62 and also get social security. I should have no problem spending 60k per year while investing the other 80k and getting a bonus of 1700 or really 1350 after taxes from the government. Ugh by then my tax bill will be a lot but it won’t matter at all. Who really needs more then 40k bring home? Just spend less than $767 per week.
Graham, all your videos are aimed at young people saving for their future. What do people like me do? I’m 56 years old and $50k. It would benefit me to put something in long term, would it??
Your seriously changing my mindset. Before I used to be ignorant & now I’m more educated from financial something that I wouldn’t get. Your inspirating me to do more in life than doing this regular work.
Graham, you got a big head. And I mean that in a good way 😉
Please make a reaction to this from cnbc: White House considering tax incentive for more Americans to buy stocks
Hmmm very interesting!
I bought your YouTube course today. I’m 16% into the course and even though I’ve only scratched the surface of what it offers, I can say that it is already worth every penny. I found your channel in November of last year and knew I’d stumbled on something special, but I truly had no idea. You are by far my favorite channel on YouTube because of the quality of the information offered and because of your genuine nature. Watching your course videos and seeing you talk about these common struggles of human existence and then overcoming them is truly inspirational as they’re something I’ve struggled with for a while now. I can tell you truly just want to help people live happier, more successful, and more fulfilled lives, and I just wish there were more people like you out there. Keep up the outstanding work! You’re truly an inspiration!
Awww thank you so much for all the kind words!! Let me know what you think and enjoy it!!
Graham you should start a Cameo I’m tryna get you to wish me a happy birthday I’m real estate nerd idc ab normal celebrities lol. Like this if you agree
What started first, watching the cat videos or getting the cat?
Thank you for cutting out the 6 or so video ads you used to include with your video. I can finally let your video play without having to hover over the skip button and risk getting stuck listening to a 2 minute ad.
lol. True
Graham, what’s your opinion on having an LLC with a family member for real estate investing? Would it be wiser to do it solo? Anyone else with opinions are welcome!
I have a real estate property under an LLC with my father. In case something happens to one of us, the property will belong to the other person. As long as you trust the family member it can be a good option. Started a YouTube channel talking about my experiences. Feel free to check it out!
MATT’S MILLENNIAL MONEY thanks for the response and will do!
Mister Crabs
Title addressed at 5:16
5:26 that’s close to what my neighborhood looks looks like! The rent is cheap though only $350 a month water covered. I do have to carry a firearm though, I just think of it as an investment however.
can you please turn your microphone gain down? it’s really loud i always have to turn the volume down but still it feels like you’re yelling
Sorry about that!
Good job Graham.
Hey Graham! I am looking to buy wife and I ‘s dream home for an insanely good price, but want to know if renting or selling our current home makes the most sense. Would you be able to talk with me on the subject and give your input?
Watching while eating 60cent viana sausages lol 😆
Love these vids I’m 16 currently starting an eBay reselling business 🤘thanks for these vids you deserve all the money for helping us!
Just an FYI, Millionaires watch this channel as well. 1.52 Million subscribers, you can understand how that’s possible.
Minimalism is about identifying the things that are important. Consumerism is spending money on things that “kinda really make you happy but not really” Minimalism is a lifestyle.
I feel lucky. I have a brain that finds enjoyment in ruthless fiscal conservatism and being happy buying stocks.
“Uncle Sam needs his fair share” ….. for roads, bridges, public libraries, parks, schools, ….. and increasingly more for endless wars
Having a GF sort of changes you doesn’t it?
Keep up the good work Graham.
Again, that works good if the power that be are not attacking you.
By the way, they paid me over $200,000 to $300,000 in taxes due to that, amongst other things.
$4 million at 1% interest per year makes $40,000 per year.
It’s very important not to focus too much on yourself, if that is used to divert from you to be able to have a family, or, are being interfered and delayed from marriage, due to diversion, distraction, or psychological warfare. ~ optimistic or positive, especially in an apparently bad or difficult situation.
“he is sanguine about prospects for the global economy”
If I was to follow that without designing prototypes to adjust for the attacks against me, I would be dead and have no family, besides potential illegal rejections from those trying to assert their powers.
I was offered a $900 house in Russia when the government arrested me on false charges.
I could have sold it for $60,000 the same day.
My brother in law is a commercial real-estate broker and/or agent, or, is working in this field of business.
There’s also interference against my rights to a house from inheritance , including other property rights, and intellectual property rights, on a 100 years old house, never mortgaged, now also worth over $60,000 with a land deed around a mile away from there.
The nice part is that the US Army paid $50,000 to honor my family in relation to it.
That is also in courts, and part of why they offer me a course in a military law school in Europe.
It’s a hundred times easier to earn more, then to keep cutting, and because it takes too much time too!
Is this just me, or does this look like a direct response to the interview with The Financial Diet? 🤔
I’ll take the snickers bar after being in the gym 😁
Think my best money saving tip is not going with someone on benefits lol
Yo graham
Graham, did you see Andrei Jikh’s video on why real estate is a bad investment? https://www.youtube.com/watch?v=IibCp34AaJo
“Stuck?”
Try *WinboxDollars.us?v3* i just made over $700 this week with them!
In 2019 I’ve ran through 4 jobs first started @ $7.50 my current job is $17.00 if I find another one higher I will leave this too. Ultimately they all must go as I must lift myself to financial freedom.
The WeBull offer is not valid for canadian citizens 🙁
Another awesome show Graham! Stop putting your sunglasses in your shirt collar. You’ve got the bacon neck something fierce! 😀
You definitely don’t have kids lol
Hey I really appreciate this vid graham, this is something I’ve been battling myself in trying to find the balance between enjoyment day to day and frugality
Iam gamer – i enjoy my life sitting in front of my PC And play for Hours every day. So i save my money So i can quit my job in the Future So i can play MORE 😀
Dude I just wanna thank you much for the work you do on these vids. I’ve been watching for a couple of months and have learned a lot from them. Whenever life, family, etc drag me down, watching your videos always give me hope.
HULK: Smashy smash like button! HULK SMASH!
This might be a really silly question but why 30?? because we suspect to live 30 years after we stop working?
New sub
I like the sentiment, but how do you plan for medical expenses? I know what my savings goals are for the lifestyle I want in retirement, but I have no idea how to plan for things I can’t foresee. How much will heart surgery or chemo or assisted living or end of life care cost? How much do you plan to spend in medical expenses after ~60?
I thought the problem with financial minimalism is you don’t get to eat. But hey what do I know.
Like button was smashed before asking. You’re getting slower Graham! Cheers!
Watching cat videos is also my guilty pleasure. By the way, when is Ramsey getting his own YouTube channel???
Why has Ally Bank plummeted 11%!?
You said Lamborghini. I’m in. But will I ever make it, will I get old enough to make it? Or am I just too dumb, as other people already have one. It really is a big problem for me why I am so dumb.
Can you do a video on how to make money living in an economically depressed area when you don’t have enough to move?
Hi Graham,
I really like how you explained safe withdrawal rate, thank you for that. I just wanted to clarify in regards to investment, does it mater if that investment of lets say $1,200,000 financed or straight out cash purchase?
Your math is off on the video 200 a month is 3,600 not 36,000.
Mr. Graham I have a question, I’m not exactly a Warren Buffett when investing or being that humble but I do save and invest I take care of my priorities but I just can’t be a minimalist I just suck at it I like to eat out and get 3 shots on my mocha so my question is, is it really that bad even if I can still save on the side?
what stocks & when should we buy in? is the questions we want to know
there is a company named unique finance that it is a huge scam if you had any time please revive it because allot of people are investing in that site in my home country and I think they will lose their money my email: kurdgame1@gmail.com
if you wanted any more info on this I will be happy to help you out with that subject
I spent money without leaving the house, probably more than if I go out 😅 ordering food etc 😂
right now you are my guilty pleasure Mr. Graham Stephan lol
Graham, I wholeheartedly agree with you! People need to have a plan out what they’re actually saving for and also focus on increasing their income.
Saving can make you MISERABLE, especially when the amount saved doesn’t have a real impact on your life.
I talk about this all the time to my friends and family and on my own YouTube channel. You’re an inspiration, Graham!!
MrLlamaSC is literally a Diablo 2 streamer that i watch from time to time, was so odd for me to see his name in a Graham Stephen video lol. Small world after all.
As soon as I think I have a good budget here comes Graham making me rethink it lol. Now I have to re-evaluate my $100 a month date night and my $200 miscellaneous categories. I might try to eliminate the $200 misc. and see if I can stay on track. Thanks a lot Graham lol.
I want a lambo, live in a big house and get to travel the world… I can save $10p/m please help 🙂 LOL
I crashed my 2019 challenger and downgraded to a 1987 wrangler. It cost $2000 and I have just as much fun in it.
When i watch your videos i feel i will never have troubles with money ❤️
Graham is the God of minimalism. I also take it as a hobby and a challenge
I completely agree on all your points bro!!! I’ll meet you at the top. 🙂
Hey Graham!!!! I wanted to say thank you for linking that Reddit thread. That is the exact same existential dilemma I’m grappling with right now and the perspectives there are super helpful. Glad to know I’m not alone. Keep making the cool content you do. You are one of my role models! P.s. I say this every time but I LOVE the T.Rex 🙂
Pavlov’s Graham lol
The real meaning of this video is higher income with financial minimalism is the way to go . Be frugal not cheap.
Really terrific video, Graham! I am doing so much better with my savings and investing nowadays, and it’s making me so content and feeling more responsible! You are really amazing and inspiring man!
Cant stop watching your videos! Thanks for this content
And now I want a snicker.
Life is short, u can die tomorrow due to an illness (heart attack, cancer, etc.) or accident. Enjoy buying things and experiences with your family
before they’re gone or all grown up with complicated lives far away from you.
That’s NOT a life. When you’re old, you want to look back on your life and will a piece of you live on: getting married, having kids and watching
them grow up, then watching grandkids. Having fun with toys like cars and boats and Starbucks with family.
Thank you so much Graham, this is brilliant. Although my friends mock me for not spending 12 dollars on drinks every week because I’d need almost 20k to sustain that indefinitely