8 Pieces Of Financial Advice That Changed My Life
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- čas přidán 2. 07. 2024
- These are the 8 kinda weird pieces of financial advice that changed my life and let me leave my day job at 24. We hear a-lot of financial advice from friends family random people on youtube most of it sucks . But every now and then we learn one little thing that changes our entire life and I've been fortunate enough to have been given a-lot of advice from frugal living to financial minimalism and how to retire early. I Hope these can help!
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#Frugal #Minimalism
What's the best financial advice you have gotten?
Avoid credit cards!
Save as much as possible and invest ASAP for compounding to take effect; use debt and leverage to develop assets back to back
Use credit card wisely, use Compound interest as a tool , its ok to be the weirdo 🤪 in order to get to your goals👍. Thanks for everything.
Tracking (monthly) income and daily expenses. That way you know exactly how much money you spend and how much you have left at the end of the month. No need for an app or anything. An Excell sheet / Google Sheet will do. Love your videos by the way!
don't use credit when you can pay cash
i created my wealth through credit repair, after getting my score fixed then i got a big loan and started business, i am proud to be a millionaire
if you want to get your credit fixed kindly reach raul
txt+1
407
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"If you want to live like nobody else (later), you've got to live like nobody else (now)" - Dave Ramsey
Dave Ramsey taught me sooo much!!! God bless him!!
Investing in the trade markets might be inundating at first but that doesn’t deny its profit worthiness, since the pandemic till now I’ve been earning serious profits in the stocks and crypto sectors
It’s facts that the markets can be very overwhelming especially to beginners yet on the long runs it can also be a cash flow machine, only thing is you have to know how to go about it
Someone got me into the markets, it’s just unbelievable how much profits I’ve yielded following proper mechanism. I wouldn’t say trading get easier, it only got more remunerative now that I’m consistent in it
The markets seems to scare me even if I want to invest in it so bad to stimulate my incomes before retirement, I love to make new money but when it comes to trades I get lost, everybody needs help
@Neil. The market is indeed very lucrative but earning off it is even harder than I thought, dude can I ask your secrets to earnings
Having genuine insights about the financial world and investing in it keeps me reimbursed and debt free ❤️ while at home I’m passively earning incomes investing with aid from trade pros, system has guaranteed me means to get over any financial crisis
Avoid credit cards
Don't follow the crowd
It's okay to be cheap
Make money work for you
Focus on the big 3 (housing, transport, food)
Don't be afraid of (good) dept
Take risk when you're young
Money is not the goal (do think of what actually IS your goal :))
0:09 Avoid Credit Cards
1:17 Don't Follow the Crowd
2:39 It's OK to be Cheap
3:34 Make Money Work For You
5:01 Focus on the Big 3
6:13 Don't Be Afraid of Debt
7:20 Take Risks While You're Young
8:27 Money is Not Actually The Goal
I disagree with him on the first one, using a secured credit card and building credit can help you an absurdly large amount. Just like investing into the stock market and crypto, utilizing credit cards to build credit and self discipline is high risk-high reward. Except with this you have more control over your risk, and gain more than just with money. 🧠
Thank you raul for clearing my doubt by fixing my score to 830 from 580 within few weeks
if you want to reach raul
txt+1
407
494
4256
The best advice I received was "don't just live within your means, live BELOW your means." I think way too many people spend every penny they make and never save and invest any of it. We earn (passively) more from our long-term investments then our actual income at this point. The power of compound interest can never be understated. It can either work against you (if you're paying any interest) or work for you via investments.
*Procrastination is like a credit card, it's a lot of fun until you get the bill.*
💯
Preach
Thank you I needed to see and hear that
Amene
“Money is not the goal.” Amen!! It is mere a bit of security for a future. Delayed gratification.
Man I needed this as im currently addicted to buying clothes
Been there its addicting
I go thru periods of buying a lot and not buying at all. Going through your things regularly and appreciating what you have, only buying things that meet the criteria of : fitting you really well, being good quality, something you absolutely LOVE not just like, being very comfortable for you and fitting your lifestyle, that will help narrow down what you bring in. Challenge yourself to a “no buy” month and then try another month and so on. See how long you can actually wear what you have! Try and get your money’s worth of what you purchased :)
Literally I'll buy clothes not wear them and keep buying more convincing myself I'll eventually wear them
I just log out uninstall lazada app from my phone
Just don’t buy it with a credit card it’s not that hard. Always remember credit cards is money you don’t have so don’t spend it
Great stuff, I have seen so many videos and I am still confused about stock trade and investments, I tried to begin the stock and crypto trading myself but I was not successful. Now I wanna try again but this time, I need a good advice and directions to follow. I do not wanna loose my money, but I just have to try again, I do not give easily.
Can you please tell me more, I really wanna start as soon as possible.
Try mutual funds, do not buy individual stocks until you know what you are doing.
@@sct4040 thanks for you answer
I really enjoyed listening to this while painting a bedframe I got for free off the side of the road ❤
Nice! I've gotten most of my stuff for cheap or free
I am from Nepal and minimalism has been changed my life and my thoughts so so much. I am loving it.
That's awesome to hear!
@@GabeBult You are my inspiration. Thanks for everything from another corner of our world. Sending my positive vibes and wishes.
Me too from Nepal ..and i am also following minimalism 🙂
@@milamanandhar3927 One of the best decision ever taken. It's so satisfying and adds to mental wellness.
I too am following minimist ….. from California
Always appreciate the encouragement and tips for frugal living for financial security.
This video was the final straw for me. I'm going back to my frugal ways and putting the future first
great video Gabe
Today I went through my budget to see how to turn my cash around. Paying off a vehicle will add money to my savings. So excited to see this even better.
Love that first point about credit card debt! Gotta avoid that but using credit cards the right way like you said is a great way to travel for free and something that I love showing people how to do! Great stuff as always Gabe 😂
I learnt a lot from these minimalist videos, I've actually put it into practise for this year. Living on budget and doing away with things I don't need, I rethink before I buy things now. Needless to say this is really changing my life, I feel empowered, I now choose to invest. So thanks a lot
Hi Gabe, I just love Your videos, especially the ones about minimalism and decluttering because they are a lot of fun to watch. The biggest side effect is that they always make me do some decluttering or cleaning, although we are a minimalist household. And if I don't do any of the above, I always make myself a cup of coffee. Greetings from Germany
"Take risks as soon as possible so you can fail quicker." Well, there is logic in that. It makes sense really.
*“Reduce the complexity of life by eliminating the needless wants of life, and the labors of life reduce themselves.” - Edwin Way Teale*
Hi from Florida! I just subscribed! I’m 40, kids, loads of student loans, not too much consumer debt just a few small home improvement type loans for our property (all necessary except the pool/backyard Reno but it significantly increased the property value and keeps my little boys outside where I want them haha! 🙃 I’m interested in investments, minimalism, and creating personal freedom. Loved the video!!!
Credit Cards are a tool, not free money. My parents always avoided credit cards, painting them as this evil temptation, but actually, what I wish they would have taught me is simply to never buy something unless you have the cash to do it. Houses aside, if you don't have enough money to buy a TV without your credit card, then don't. If you buy it with a credit card, you should do it with the knowledge that you will also be paying for that credit card bill in full at the end of the month. I never buy anything I don't already have the money for and so far in my 29 years alive I am still debt free.
Bravo Amy! I’m more than twice your age and didn’t get it young like you (wish I did). But I finally, even though I was older, buckled down and have 3 streams of income that I live off of. Live off one and save/invest the other two. Not a millionaire (yet), but hey, I’m still enjoying not being strangled by debt. Frugality is the way! Learn it young! Good job!
Nice, but your parents still did you a favor relative to the common use of a credit card. Your life would be a lot harder if you learned your lesson from the opposite side of the credit card spectrum. Give them a hug and thank you
Hello too
Hello
That’s it
Your few words really did impact me...like wise you had said "Before you buy something you always think how much you have worked to earn that money". And that has really made me think twice before I make any impulse purchase. Thank you and keep posting such amazing videos. Great work!
Awesome to hear! It's really changed how I think too
Happy I found your channel! Thank you🙏🏾
Thank you for the debt advice! I have been stressing about putting myself into debt (minimal) to build my tiny house, but I know that it will provide me with the opportunity to not be in debt later on😊
Thats awsome
You’re awesome and your videos are so good! Love watching!🔥
I love your videos Gabe! I’m grateful for you
I like the thinking of the future with people relying on you. Great leadership and action.
minimalism is a life style thats very subjective and its applicable in most cases,because it works on the inside affecting the outside.
"When I buy something, or you, you're not paying money for it. You're paying with the hours of life you had to spend earning that money." - José Mujica
Pepe Mujica 👍🏽
One of your best videos yet my friend. Very helpful, thank you very much. 😁👍
Hello.. Im Malaysian.. I watch and listen all your videos.. It's really inspiring me to be minimalistic.. Thanks sharing a good experience.. Yey!!
Dropping some Ramsey quotes, nice. Keep up the great work. 👍 I am trying to implement more minimalism strategies in our household to allow us more freedom for family time and more investments. Your videos are helpful and motivating.
It can definitely make a huge impact! Yeah I remembered later that that's where that quote was from lol
Very wise young man. You have saved yourself from so many headaches in life.
I swear I thought I was listening to financial advice dispensed by a Jonas Brother…but you hooked me. I’m subscribed! 👍🏼
I totally agree on the fact that it's okay to be cheap. People like to say that it's weird or wrong but it's just right for me
It's not about how much you make it's how much you keep. Some times you need to sacrifice to make things happen
Thank you so much for teaching me this things
BRO this video was pure FIRE my dude! We need to get a collab going. My finance students need to hear your perspective!!
Great advice Gabe, thank you!
I agree with your advices. Great video! Keep on vlogging!
Thanks Manny!
Wow this might be my new favorite channel
I follow you for quiet a while now and I really like your content, in first place the minimalism, less the frugalism. A question that always comes to my mind, when you talk about your plans to retire in your 30s is, what will keep you ''alive'' then. You have this goal in mind and obviously you do a lot to achieve it and it feels like you really enjoy your life like that. I feel like, you have already retired and found a way to work without really working. At least that's what it looks like to me.
Congratulations on reaching 100k subscribers. Love your content 💕
Thanks for this video, I have been familiar with this kind of videos of other youtubers but it is the first time I meet you.
My husband texted me the amount we had in our 401k the other day and said…. “It was fun watching it grow hopefully the economy doesn’t crash now!” At least we are in our 40’s so if it crashes at least it has a chance to grow again before he retires. We did all of your tips
I just gotta say I've really been enjoying your videos! I love all your transitions and editing, and of course the content :)
Everyone needs to find what gives true financial freedom and happiness, if your 9-5 gives you that then keep it!
I Just found your channel. you rock 🎉
People should've woke up to this a long time ago
@Andrian zach I really enjoy doing my work, and still financially independent having my passive income pay for my lifestyle. I will retire early at 40 so I can travel the world
@@riccardogiuseppe6635 TRUE! They called me “a cheap ass”. Now they call me to borrow when they are broke. Who’d a thunk it 😒🙄.
@@louis-freddieceaser8811 cool👍👍
How do you make so much from passive income?
@@nicolasfernandez222 I make extra income from side business and most importantly investments
Great video man. Thanks a ton.
I've been here since the beginning and plan to stay committed to your work. 100k let's go!
☕🙏
@@GabeBultjust keep your ☕
Always
Gabe, thank you for the continuous content. I quit smoking 3 months ago and it turned my life around. It stopped me from spending frivolously at convenience stores. I’m 31 and have lived irresponsibly beyond my means. Now I’ve made a budget and flipped all that around living frugally and enjoying it way more than before. I wish I was younger when I realized this, however “the best time to plant a tree is 20 years ago. The second best time is today.”
I’m stuck between I don’t need that and I need to live my life and make memories! Lol
Love FIRE; great video and subscribed.
Another awesome video, Gabe!
Inspiring people to spend less money is a great thing.
Our finances can get ugly real fast… there’s infinite stuff to waste money on…
Infinite stuff to waste money on, wow. You summed it up perfectly! The pursuit of things never ends
@@nawaal4452 Yeah it’s scary because even knowing that, you still probably want some things haha
Same goes for books, movies, and even CZcams videos. You could spend multiple lifetimes binging content and still never see everything… choose wisely my friend:)
Dear, Gabe,
could you please explain (or even better do a video on) the difference/line between frugal and cheap in your opinion, respectively with examples from your own life?..
Thanks a lot!
♡
Frugal is going out to a fancy dinner with friends every month vs. every week. Cheap is when you go out to dinner with friends and leave a poor tip or try to stick your friends with part of the bill that was actually yours.
@@greg_216
Thank you for the example!
Cheap is buying lower quality, frugal is not buying unnecessary things. But God chose the weak to put shame to the mighty, cheap is not a bad thing, neither is expensive a good thing.
Awesome video GabE. some great advice . totally outstanding. Reg in Dublin Ireland
Thanks! Definitely want to visit there some time
Learned a lot from your videos. Thank you.
Great tips! You got a new subscriber! 👌
Very informative and inspiring 👏 👍
So glad I found this channel
Great video!
Great wisdom about failing quick! That is right.
Well safe to say the video has hit the algorithm and I can see you had under 40k subs less than a year ago so it's clearly paying off! LOVE the mindset and it's literally like listening to myself speak, and the quality of videos is also great. Great channel and insights, got yourself a subscriber and who knows a potential collaboration in the future, seems like we might be in a similar niche!
Keep smashing it.
Great video! Thank for the life hack tips! Keep these coming pppls.
Ur very inspiring and motivating
Awesome video Gabe, also gave you a new sub so you can get to 100k by end of year! I’m a new creator and all your points of advice really resonate with me. Good luck on your journey man and excited to see you grow even more. ✌🏼
Yes ! Loved this video
My advice: Do not retire! You will be bored stiff if you do not have something satisfying and worthwhile to do. Yes be frugal but LIVE your life. You can do everything when you are much older and you will appreciate it more! there is no time limit to achievement. I worked for myself for years - only part - time but earning enough to make good living. Do what you enjoy and it's not like work. I cruised the Med and the Caribbean in my 40s and 50s It was fantastic! Have goals and never stop LEARNING - the secret to happiness. GOOD LUCK!
I always advice people not to put off everything until retirement because one never knows what the future brings. I'm glad my father got to do some of the things he enjoyed. He was gone by the age of 57.
@@michelmurphy7152 wow, sorry for your loss❤️. I retired from teaching elementary school at 62, then subbed for 5 more years, 😁. Would never want my own business, have seen people work themselves in the ground doing that. People should always concentrate on physical health in a big way, starting from the youngest age. Keep your mind content, always help others. 🌴norCalifornia.
@@michelmurphy7152 I agree because people are dying quicker now. Life is uncertain and slaving away to retirement is crazy. There's some people that had finally retired late in life and died without having to enjoy it. My Aunt died a few years after she got her S.S.
Great advises 👌
Good advice.tnx
Don't spend a lot on depreciating items like cars.
I've been watching you since april this year when i decide to change my lifestyle still struggling in some aspects but i keep watching all over your advices it gets me on track. Hehe still keep forward on my goal and my what's make me happy. 😊 Keep it up. Looking forward to more vids.
Answer: Hmmm i guess when my mother always says that don't get waste my money for stuff i bought it online hehehe. Well Right now, i don't order anymore online. (No more shopping Apps)
Your one of my inspiration.
Maraming Salamat! (Saying thanks in my country Philippines) 😊😊😊
Online can definitely be an easy trap to fall into
Love this content.... It’s Great, practical and very relevant and useful!!...can you please recommend three financial freedom books please sir! Thanks so much and God Bless!!!!
So cool to see you hit over 100k subs bro. I remember when you had
It was pretty rough back then
Nice video 👍I just appreciate the fact that you take your time to educate your viewers. I learn alot from you . And I am glad to be a subscriber on your channel that way I never miss out the good stuffs.
greetings here I'm a huge fan of earning more money, and I think everyone should have a side hustle. side hustling can allow you to earn that little bit of extra money that can help you achieve your financial goals faster - whether it's paying off student loans or saving for retirement.
True actually, we all know that successful people don't become victorious overnight. What most people see as a glance wealth, a great career purpose is the results of hard work and hustle over time. I pray that anyone reading this will be successful in life.
Lots of people have become successful through the crypto market
please how does this whole Bitcoin thing work? I'm interested and ready to invest in
but I'm gonna need assistance from any productive and reliable professional.
Yes you're right. There's a professional which I have been investing with him his names is Mr Michael Marcus. We've been working together for months now and he's been awesome.
I wish I had this advice years ago, well your chanel too! But no CZcams back then. I pass your advice on to my young adults now so they have the know how to avoid the mistakes I made. Thanks for your content Gabe! Keep it up!
This is a great video and I appreciate the time and effort that went into this, but most importantly what pens are you using in this video?
Yea im a truck driver and I love it yea alot of people don’t like trucking but it pays tho and it makes you budget a lot out here and at home and makes you a cheap person and when I get home I treat myself every once in a while
That quote is from Dave Ramsey. “Live like nobody else so that later you can live and give like nobody else”
Wise advice!
I want to buy Cool rings 🥺..Love your videos bud. I literally listen to you while I’m working As background noise
I love this. Very different from what everyone else is saying.
I have a request, adorable eyes:
Could you please do a video on what programs, apps or formats you use to plan and keep track of your finances? Or your system as a whole? Is there a central interface or platform where you can view the whole picture and all your accounts on one page or charts? If you make such a video or could suggest a good one, please tag or alert me! Thanks!
Very high-quality video and quality content . Motivating me to make my main channel have better aesthetics on my videos🤙🏼
Keep it up!
Great video
hey gabe. love your content bro. i plan on following your footsteps and having minimal clothing. where to you shop for jeans. it’s hard to find ones that are look and feel great and are also comfortable. thanks in advance bro
That subscription ad was so good hahahaha
Hi
Great video
🇬🇧👍
i got me my first credit card about 10 years ago, when i was 50 as some foreign internet shops demanded me to use one.
Not cause i was not able to get one (i had a 6-figure job when still working, so no problem), but i just saw no real reason to use one, i was just fine with my debit card.... ........if i cant pay it cash, i can t afford it "now" and wont buy it!" has always been my motto! Worked well for me, never ever bought anything on credit in my life! I always save so i can always pay any unexpected purchase in cash.
Before they eased up on sub prime lending, it was nearly impossible to qualify for a credit card. The only people I knew of in the 80s that had a credit card were my grandparents. Who both passed away hundreds of thousands of dollars in credit card debt.
Hi Gabe another helpful video! How long did this one take you start to finish with scripts and everything?
How do you invest in cripto
Yes you are quite sharp for a young man
Love your videos 🥰 and the vibes you give, I want to be investing in the near future because I finally have a little experiment savings🤪, where do you suggest I should star?
New to the channel. Subscribed 😃
Thanks!
I love the quote from Dave Ramseys book
I have had the same iPhone since 2010 and it only broke in 2021. So I totally agree- there is no need to upgrade every year. Plus nobody wanted to steal my phone lol.
There is a fine line between frugal.and not living your best life. Be careful people
Me too I have a new I phone but very long battery comes with that too