Why I Became A Financial Minimalist
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- čas přidán 21. 08. 2022
- The REAL reason i became a financial minimalist.
The ides of minimalism, frugal living and financial independence and early retirement have all kind of come together for me in the past few years into financial minimalism. this idea has changed my life. Letting me leave my day job at 24 and Meredith leave her job so we can focus on doing the things that matter to us.
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I quit my job at 52 and I'm 83 now. I'd rather have a life than more money.
It’s minimalism, frugality, FIRE, discipline and quality of living
“Enoughness” I like that word. My spell checker is saying it’s not a word?
Great post. I read Your Money or Your Life and the book changed my life forever. I started investing in dividend paying stocks and was able to retire at 57 in 2005. Today, 17 years later, I make more money in retirement than I ever did working for a living. I waited until 70 to take Social Security. By waiting, I get 32% more than if I took it at 65. Today, the thirty stocks I own plus Social Security do the heavy lifting in my life. Yes, Gabe, it can be done. All the very best to you and your family.
It is so relatable to see someone show us their financial mistakes instead of a know it all approach.
Your imitation of Matt D’avella was.. let’s say, off. 😂
I admire his work and appreciate your work.
Awesome! your potential seems timeless.* Understanding your financial needs and chalking out a plan remains the smart way to prepare for the unexpected. 11yrs in investing space and extremely pleased with the decision I made. The good news is - it’s not too late
Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.
@Irma Davis I invests with *(Anna Kristine Services)* a widely known consultant. You can make a quick internet research with her name mentioned where you can easily get in touch
CZcams has been of great help to many facing challenges of making best decisions on what to lnvest in, but it's not enough cause most people don't understand what they watch. So it's important to seek the advice of a professional before any lnvestment decision
A true fan
I'm trying to pay off my house in the next 3 years and I can pretty much live comfortably with 10k a year. Nice to be financially minimal
Over the past few weeks I’ve been cleaning out my house and the amount of “stuff“ I have taken to the charity store would easily run into the thousands of dollars worth. This morning as I loaded never worn jackets and never used handbags into my car, I checked my phone and saw the notification of your video on my lock screen. I took a rest and sat down and watched it. Could not have been a more timely reminder of things I need to change. Keep up the awesome work. You are changing lives.
how much money total do you think you used on the stuff you're throwing out?
Caught you on the Wealth Mindset show, 👍
rich dad poor dad has also opened my mind to tackle my finances
I read about this trick and this helped me allot. You calculate you real hourly rate and every time I want to buy something, I calculate how much time it costs. Also, for bigger purchases, I wait mininum 2 weeks to decide if I want to buy it or not and It turns out, I don't want it anymore 90% of the time.
It’s great that you arrived at this conclusion at a young age! Freedom is my top value too but I tried to do the corporate world like my parents wanted me too for far too long! So kudos to you!
The world sucks! I remember trying to fit in as well. Buy,debt new this and new that. The list goes on and on. It took me until my mid 30’s to come out of that mind fog.
This is my current goal, to become a financial minimalist. I’ve made all the mistakes and spread myself too thin. Thank you for your content 🥂
It’s life changing once you get into it for sure
I, fortunately, do not like spending money. I use to spend out of boredom. Now I'm able to work less and save money. Sometimes I find myself wanting to work more because someone tells me I need more... Um no I don't. I recenter myself and move on.
Totally understand! There will always be someone trying to take our freedom don’t fall for it.
I’m inspired by your videos on minimalism and having less
Financial Minimalism is ESSENTIAL!! Thanks, Gabe! So close to 200K!
Congrats on almost 200k subs ahhhhhh! But when you ate that raw potato 😭🤣😅
Annddddd great video as always. I am so much more content now with having less stuff and utilizing the mula to get the asssets. Definitely life changing to embrace financial minimalism!!
Baby video please. Your 1st one was one of your best.
Also, your arms are 3x the size of when you started!! Beast!! Good work.
New subscriber here from the Philippines! 🙂
I've been practicing minimalism for 3 years already.
Mention me on your next video 😁
@@aljonkennethareyes Philipinos in the Philippines are born a minimalist because their income threshold does not exceed 20,000. However, if you live in a wealthy country, becoming a minimalist would make sense. 😁
@@cheekymonkeygirl3378 it depends on the person thought Philippines also have rich people.
This very helpful I’m 22 and I still don’t know what I want too but I’m going to try real estate this year
It’s great to get into young for sure
I like your channel, it's positive and reinforces my desire to save more and spend less.
I love your founding story. Definitely signing up on the waiting list.
🙏
I’m listening to the Dave Ramsey show right now and a new book by Ken Coleman, “ Paycheck to Purpose” sounds good.
My husband and I are looking for our first multifamily house. I saw one of your old vdo and told him about it. Hope it will go great for us.
Just checked Rich Dad, Poor Dad out of the library, can't wait to read it!
Thanks. Good information.
Good stuff Gabe! Thank you
Great video! Thank you
Yes I NEED this video!!
Excellent content and such nicely presented!
Great video!
Love it. Your videos always bring me back to my center when it comes to finances. Thank you!
🎉learn soo much from u❤
I’ve saved over the years and now almost ready to “retire” which for me will mean moving to a new country, reducing my expenses and maybe starting a couple of passive income streams. But saving and living within your means are the MOST IMPORTANT habits to build. Thanks Gabe for your great videos!
I love this.
*wow loved this vid! I am going to start my FIRE journey soon with goal of FI soon!! Love the vids as per!*
Agreed. I started with frugalism, as I call it. One of the principals is to use up what you have and not buy more until you "need" it (rather than sell it or give it away, although we did a lot of that with stuff that we dont "need" or use). Those actions naturally turned into a form of minimalism, as things got used up. So, it took longer for our possessions to be widdled down - but has also saved us money but not buying more. In the journey I have found ways to make more money, ways to save money, and ways to get free or cheap things or activities but still own and aquire quality things and experiences. Im older and our retirement fund(s) dont look that good to most, but since we are so used to living on less, being satisfied and having gratitude for what we have, it isnt going to be a problem for us. We certainly are not destitute (although some may look at the numbers and think so) , but our lifestyle is much more simple than most, and I think we are happier than most our age that are in the same earning/saving situation. So it stands to reason that we will need less money as we go into retirement and we cant wait!
You're my guy, I'm benefitting greatly from your tuition, thank you very much.
The connection between finance and minimalism is really interesting to explore and discuss . I ”found” minimalism after I streamlined our finances, negociated and removed a lot of bills aka finance minimalism.
Gabe I really enjoy your videos. I learn and I am also reminded. THANKS
Glad you enjoy them Bessie
Love this!!! This is definitely what I’m working on!
Very good video.
This might be one of your best videos! Very very good.
Thanks appreciate it!
Rich dad poor dad is such a good book to give your kids to read. My mum made me read it when I was a teenager and I became the only one in my age that had no debt and healthy savings after school
Freedom 🦅🦅🦅
100%
Excellent
it’s the better decision
My Dad always said, if you have two dollars in your pocket, spend one and save the other……….
Could you come up with a recommended reading list? You're always referencing books you've read and what you learned from them I've lost track, but they always interest me.
How handsome you are!!! Please come visit Thailand. So many Thai fans of you are waiting.
I am a minimalist. I just got a camper and am no longer paying rent. I can live on very little $$
Hi Gabe, where did you buy the cork globe with all the push pins? You've travelled extensively, man!
3 kids by 25 Dang. Morten need to be responsible like you and start families early...
If you haven’t read “Rich Dad, Poor Dad” read it now. It’s gives you a new way to think about money, especially if your parents didn’t teach you about money or if you consider yourself someone who follows traditional wisdom.
another tip for financial minimalism: avoid taking courses online teaching you how to become successful; there is always an upsell or an affiliate for someone with an irresistible commercial that you invest in and the online thing does not deliver to those that really need support.. We need in person community, personal local connections not more online classes where you are just another number,
How do you handle health insurance costs? My husband and I live in one of our two 2-family homes to house hack. One property has been paid off since 2019 and the second one will be paid off by 2024. I'm also in NH and insurance is the biggest thing holding me back, especially with a little one on the way.
Hubby and I bills a mo. is 2,500. We have no debt incl. mortgage.
Id be interested in the course. I've seen that a lot of investments require you to already have a good chunk of money or capital in order to start seeing some gains. Would your course talk about how to start when you have little to no extra money to invest?
Another awesome video.gabe. xix you ever look at prepper princess on you tube. You and her are great youtubers nate o brien is also good.. all the best.
I'm currently reading my first finance book, called “ Rich Dad’s Guide to Investing” and I love it. I'm dedicated to reading as many financial books as possible and broadening my knowledge. I also want to try becoming a minimalist because you are right, you can either have more stuff or have freedom. You cannot have it both ways. The truth is having more does not equate to contentedness. This book states financial education comes from your family. It's a prudent idea for parents to teach their kids about financial freedom in their teens. Congratulations on 195K subscribers. 🙀😁 Well done.
You are very big!
Gabe, love your messages....Proverbs has 31 chapters. I read one every day and it helps me re: wisdom and understanding. Hope you will try it for a month and see for yourself. Let me know.
You’ve put minimalism and my lifestyle perfectly in this video. Thank you for your work 🥂
I’m going to send this video to people when they ask me, why I don’t spend a lot
I love your hair. Its a little like mine. Hair bros!
I was pretty lucky to actually grow up in a family of financial minimalists. While not truly minimalist, my mother impressed on me early that money can't buy happiness. A new car will not make you any more happy than an old car- it is all about perspective. My family taught me to take care of the things I already owned and to not aspire for opulance and wealth. As a consequence, I was naturally drawn to the financial minimalism community because it already fit the values my mother taught me. But it also went a step further and taught me that the less stuff you own the more you can focus on the things that matter. My mom is also picking up the minimalist bug too and has now begun rehoming the things that don't bring her joy and it is helping her feel more centered on the things that matter most to her. Thanks for sharing about your journey. Unfortunately for most people around the world, it is a game of moving goalposts. It's never enough stuff and nothing is ever good enough. It's time to break that cycle and refocus on the things that truly matter and enrich the human experience.
I couldn't agree more! 🙂
100% Agree
@Gabe Bult
Thank you for making this, you are the first person I have ever found online who is truly looking for freedom just like me. I have a questions and would be grateful if you could make a video about this too. No matter how much I try to work hard to achieve the freedom I am looking form, It just doesn't seem enough. I am trying to stack to money as a safety net but the more I stack the more the cycle continues, Can you tell me how did you keep your calm when you quit you job? How was that time for you ?
how do you deal with the stigma and disgust people have when you are not spending a lot of money all the time?
❤rich dad poor dad
Oh, so mother does know best! Glad that you caught the fire from that first book and took it and ran with it. I believe we all want freedom, but we are "brainwashed" into achieving the "American Dream". I think Minimalism is such a breath of fresh air. I decluttered my home taking 6-7 trunk loads of "stuff" to donation centers and I've never been happier. I'm a bit selfish and not so much into sacrifice to the least but I am becoming more intentional with how I spend my money, and I'm thinking when I pay off my mortgage someday of renting out my house instead of selling. Those ideas have come to me from watching your videos. So, thank you!
Please, send me that ebook you talked about in previous videos. Thank you
That potato scene ☠️ me everytime😂😂
💯💯💯💎
Gabe your videos are great, but may I please suggest you use another type of music? personally, I'm getting tired of the lofi youtube soundtrack. Other than that, the style of your videos and the content is great!!
Was that a frisbee as a bowl 🥣 🤔
♡
The biggest worry I have is health insurance. What do you do for health insurance?
How did you come to 4,000? Did that include a Savings?
Thx you so much for this video. I try to find my way with money...still didnt figure it out. Any tipps for me? I am single mum with 3 kids. Struggeling with healt (MS and Tumor) the past 2 1/2 years. Made a lot of owe in this time. Can not work any jop with physical/movment. No education. Living from the coverment on existenz minimum. Lot of medication is not payed. I wish nothing more than to change my money situation. My dream one day travel some places with my kids. Be debth free. And not needing help from the goverment. Would be so happy to get tipps.
Move to Western Australia
Second ✌🏼✌🏼
🙏🔥🔥🔥🔥
30 seconds into it and we get to a universal truth: Mummas love their babies, no matter how old they are. I’m sure your mother is so proud of you, and happy that she has been able to guide you.
First person to watch this
Thanks Charles! That’s was quick 🔥
So are you saying you are making more than 50,000 a yr doing nothing? Just fun?
Great video. you've remind me of what someone once said❤The richest people in the world build networks; everyone else is trained to look for work.” “There is a difference between being poor and being broke. I once attended seminar and ever since then i been waxing strong financially, and i most tell you the truth..
Learn to invest. It’s the only way.
After I found out that money is only a tool to exchange for values, I stopped saving and started investing.... Invest your money to make more money, By saving your money you only lose its value and it gets depreciated.... a fellow creator ~~~~~
We need baby ♡♡♡♡♡
Uhm, all those comments - are they bots ???
1
Golf is for old people
you mean you just finally learned to stop wasting money
that was literally it.
Glorified Poverty!
Mrs Sofia is the best, recommending her to all beginners who wants to recover from their losses and gain more like I did through her strategies.,
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs sofia..
I think she is the best broker I ever seen.
The best strategy to use in trading is to trade a professional who understands the market quite well, that way maximum profit is guaranteed💯💯. Because l have learned along the way of my investment that research and analysis are important, note that experience is more needed, than luck when it comes to the financial market.💵📈
I came here to learn how to trade after listening to this video I'm still confused, I'm a newbie and I'm open to ideas.
This Bitcoin trading has set sail. I honestly cannot overemphasize how much delving into Bitcoin trading has helped saved and changed the lives of many.🤙
@@sabinusrobmarguerite4689 Yeah you're right, most times it amazes me greatly the way I moved from an average lifestyle to earning over $62k per month🚀, utter shock is the word. I have understood a lot in the past few years to doubt that opportunities abound in the financial markets, The only thing is to know where to focus.🗽🗽🏯🏯🏯
@@oliviamasonjhp573 Wow buddy, that's more than a mouthful of profits you're making💰. How do you achieved this feat consistently 🤨? You must be a genius in trading
Interesting.. how did you do it? 😁😁🤷♂️🤷♂️🤷♂️I could use some help over here too, My Crypto picks have been depressingly bad Tbh I'm in need of a good investment plan currently, I still have a lump sum in a savings account yielding next to nothing. Do you have more clues that could help?🤦♂️
u dont just learn from matt d avella, you stole even his song and title wtf. Pls be a creator thats original.
Kind of seems like a clickbait video. You aren't a financial minimalism if you're buying assets and reading Rich Dad Poor Dad.