Why Saving Money Is So Important?
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- čas přidán 31. 08. 2021
- Saving cash to go on the offense is a smart idea.
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Gary Vaynerchuk is a serial entrepreneur and the Chairman of VaynerX, a modern-day communications parent company, as well as the CEO and Co-Founder of VaynerMedia, a full-service digital agency servicing Fortune 500 clients across the company’s 4 locations.
Gary is a venture capitalist, 5-time New York Times bestselling author, and an early investor in companies such as Twitter, Tumblr, Venmo, and Uber. He is currently the subject of WeeklyVee, an online documentary series highlighting what it’s like to be a CEO and public figure in today’s digital world. He is also the host of #AskGaryVee, a business and advice Q&A show online.
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This video isn't saying don't enjoy your life but everything has an opportunity cost and if you're spending money on pleasure/lifestyle that's fine but you can't complain about not having $ when you're the one in control making those decisions.
Sacrifice, nothing worth having comes easy.
"The price of anything is the amount of life you exchange for it' - Henry David Thoreau
And why do you think that money is very important??? And where does the money come from???
When he says "I was 33 and I was RENTING" he is saying it like it is very unusual. And maybe it is unusual in the US. In Europe, however, it is completely normal to not buy a home at that age - even when you are earning well.
It's becoming normal in the U.S. now especially in the northeast, but at his age it was definitely less normal.
I'm 37 and still renting. I think it's much more common for people in their 30's now than it was for our parents generation.
@HighlandBonsai big respect
I know people in germany that are 50 years old an renting. Like you have already said it is really a normal thing in europe to not have bought an own home in that age. So, when you have a plan and this includes to save money until your thirtys, just do it, and dont listen to other peoples opinions.
I think he meant It’s unusual for someone with millions in the account to rent. It’s about making a choice not to spend the money he had on something like a property when there is a greater use for that money.
You never know when unexpected expenses happen. It’s always good to stay ahead of the game and save the extra money.
czcams.com/channels/kkNnZ8BZhzRG47YbmGG-Og.html
Agree
Cash is trash when it's sitting in the bank the 1% don't have a bank account in their name because they let their money work for them by investing in assets keeping your money circulating 24/7 is key to financial freedom.
@@tloco1529 exactly, saving cash is for losers, look at the inflation of USD. People are so weird, they are saving toilet paper. Let's keep them poor as Kiyosaki said.
@@komancikartal Yeah bro I'm really excited where TerraLuna is heading right now I believe it's going to explode exponentially in a few years. People don't understand it's very important to keep money circulating in physical and digital assets 💯
Most don't have a purpose or a goal clear enough to save for the long term and instead spend in the short term for pleasure
Life is all about choices and being happy. Hopefully the person that bought the watch or went to Coachella are (also) happy!
Exactly! Just don’t go and say uhh I wish I was rich or I wish that was me when someone who saves all their money to make their dreams happen become rich while the other person went to coachella or treated themselves.
the problem is, when your happiness is kinda wasting money, that would be a problem
@@FM-to3gy Whats happiness though?
No,you are happy when you buy things but just for a moment than you need to buy something else or change the car because this one you have you don't want it anymore. It's called dopamine. But the problem with saving money is what you do with them, you can't save and save until you grow old.
That person is definitely not happy lol
I'm Colombian, not from a wealthy family or job, and the exact same opportunity showed up for me at 32. That was the year that I got my car (paid in full) a job at a tech company, invested in crypto, bonds, and a gaming company and then 3X my net worth.
This is fking great advice
Saving money gives you a way out from the uncertainties of life and provides you with an opportunity to enjoy a quality life. Another great one, Gary!💰👍
People learn how to be a consumers, not savers or investors. Gary's story shows how thinking about the future goes a long way.
Facts , you got think and plan for the long term!
*Most great accomplishments were achieved by the people, who at first had no idea what they were doing.*
Keep going my friend. I am cheering for you. 🙂
bro her yerdesin :D
Sounds great ! Can you expand more on this point ? it sound interesting to me maybe i can learn from you!
I’m 23 right now and have been working since 19 and I almost have six figures in the bank because I literally just been working and saving my money. My advice to people younger than me or the same age live with your parents and save every dollar you make. And if you can’t live with your parents find a both of roommates and live as cheap as possible for a few years and you will have a shit ton of cash in the bank that you can do anything you want with
Invest that $ though
You're right on target. That's exactly what I did and retired at 43yo. Make sure to strike when the iron is hot. Make a good investment (house or stocks) when the time is right.
@@networth00 Yessir, I am pursuing a career in commercial real estate and planning on investing a lot of capital into real estate in the next few years.
GaryVee is so inspirational, and smart.
Ah yes very smart, he makes you save money that is being printed by the day. Yes very smart.
Yup exactly what I did 2 years ago even though I've been listening to Gary for almost 5 years now. LOL, You can say it took me a while to kick start, but financially I'm in a better place. I have a lot more self-control over my finances that's after the fact I went and studied Personal Finance. Now when I listen to old videos and new videos I can relate so much more than before.
I just have so much LOVE for this guy. He’s is just the real daaawg!💪🏼
If you look around and you're doing the same thing that the hundred closest people to you are doing, something is severely wrong. What Gary did is something no one does, which is why Gary gets to live a life that no one does now. But the real secret is that anyone can do it, you just have to stop living the same way 400 other people you know live.
Fact.
Make a goal and figure out how you will obtain it! Don’t let others dictate your path!... You have the ability to cultivate your own vision!
When I started a channel about metal detecting . I was all worried about what people were going to think . Like am I doing this right and that right . But then I got over it and started enjoying it and not worrying about what people thought . Now my sub count is going up and I’m enjoying it way more . Just let lose and be yourself.
Nice advise and good luck for your channel
@@Sharky_222 thank you very much ! 🙏 🤜💥🤛
Im my 20's a blew a lot of my money partying, traveling to Vegas, Miami, Mexico etc.. with friends, now I'm 40 now I'm playing catch up...Do I regret it... not really because your only young once and I enjoyed that part of my life...but I'm investing/saving a lot of my money with no debt except my house mortgage,GaryV your awesome man!
In my 20s I did all the fun things you did, but did everything as frugal as possible. I retired at 43 and do what I want. Do I regret it, absolutely not. I also enjoyed my younger years, probably as much as you did. Sounds like you're justifying a lot of bad financial decisions when you were young.
well said. hustle first, wealth will follow eventually.
Idk why people just can't grasp that .. SAVE MONEY !!!
Nobody ever got rich by saving money, apart from lottery winners and inheritance or any of the like, name one millionaire who got his millions saving money.... You can't because no one has. Ask everyone of them and they'll tell you not to save but to invest. You gotta spend money to make money. What you choose to spend it on is what's key. Be smart with your money and it'll make you more money. Buy dumb sh** and it'll end up where all dumb sh** goes, the dump....
@@bobbyhandley5581 gotta save it to invest . Can't invest with pennies . This is why he said he SAVED for YEARS and THEN invested
@@Myworldmymind908 haven't watched it yet that's why I was looking through the comments... It won't load idk why.. so I dunno what he said.. but it's like the chicken or the egg, which came first? If every purchase is an investment that your looking to make profit on then I believe they spent they're money wisely now he has multiple investments, lady(just an example) saves to invest takes years but alas she invests and decides to go with a company she's been watching n something bad happens and they go under or she chooses the wrong middle man and that investment is now gone. Now it could easily go the other way but odds may or may not be in her favor but in three yrs time. Gentleman who only purchase investments small to large depending on what ever funs he may have had has a higher likely hood of possitive return investments. 2 reasons yes he will have bad investments negative return but will have possitive returns as well 50/50 but in time will gain first hand experience in investing and handling investments and in return gradually get better and invest smarter.... If you want to look at numbers I'd say while although her path seems smart, his seems more likely to succeed....
People spend money to make themselves happy for the short term because they don't like the job the are in now. It is a vicious cycle that requires discipline to get out of.
@@jolllyredhead I agree wholeheartedly
Thank You! 🙏😊
Here in Italy most of 33 years old are still living with their parents
@JJerem keep your head down and work brother, if you want it you can do it
@JJerem just keep grinding!
@JJerem wtf are you doing bro. I moved out at 17 working 55+ hours a week and im 24 now still making bank go work hard man
As they should, this American dream nonsense of everybody buying their own house right after school is a concept banks made up to sell mortgages. Staying at home saves you shitload of time and expenses, which should be invested straight away.
The problem of ''staying at home'' are guys sitting on their ass playing games, fapping all afternoons, while working minimum wage jobs spending the paycheck on weekend drinking adventures.
Sorted family relations are a must though, you want to be with people who don't drag you down... If that's the case you are better off alone.
One successful person is begining of a fortune... One successful family is begining of a dynasty.
outstanding post keep up the outstanding work
Thank you I think we can shall may ( or any suitable helping verb ) understand the importance of money as it allows us to explore true need of the society and right need of the hour......however using money for bad purpose or bad ways or excessive earning can prove unhealthy if not taken care and prevented......
Excellent
Oh ooo! Gary is trending again!
Excellent video
save cash and invest in opportunities
Thanks
6 years, no expenses... I think he's underestimating that little advantage.
well.. ive watched ur video gary, most of them are inspiring, but many people thought those are boring and you were talking the same things. In a nutshell theyre actually dont know the basic concept, which is actually talking about “Physical Senses”. The fact is, our senses are actually the main gate of our perception, those who doesnt aware of what actually build his/her mind will eventually think that everything that is done by most of the people is the truth, thats why they start to comparing themselves.
may b, you can try to explain people about How our physical senses actually work and make up our mind. may b you can try to read about Five Khanda, which was the teaching of the Buddha. youre really aware about yourself Gary. keep it up..
Clever clever man
self control and patience paid off
Save to invest, and buy assets that grow your net worth 👍
some people save money others go to coachella
You invested throught stock market?
Nice. My real wealth did not come until after 50.
In 5 years I made $1M+ in paid paid real estate then turned around and turned $135k into $1M in the stock market. I have yet to inflate my lifestyle. I have 28 paid rental units and bought two more to rehab last week.
So cool! I’m happy I can leave feedback
Wow I had 17 property's by age 33 ,crazy but that was in 1992 .but its all relative ,
I came here to learn how to invest after listening to a guy on radio talk about the importance of investing and how he made $460,000 in 4 months from $160k, somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas.
Investing in stocks and crypto is a good idea, a good trading system would put you through many days of success.
It is possible to produce superior performance provided you do something different from the majority. However most of us tend to pay more attention to the shiniest position in the market to the cost of proper diversification.
Having monitored my portfolio performance which has made a jaw dropping $370k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market.
@@anthonysam9391 Interesting, I have a lump sum doing absolutely nothing at all in my bank account, I wanna get something started with it. You seem to be doing excellent for yourself, how do you achieve this?
@@louisclifford9874 Exactly, the trick is to diversify your investment, don't panic when everyone else is and invest consistently.
At 30, this is inspirational
I love this guy lol
"Documenting NOT creating"- Gary Vee
Im 23 making $55,000 a year and this video showed up on my recommended... must have needed to hear this 🙏🏼
Subway’s are still a thing?
Save money to INVEST like Gary Vee...
I’ll take this
Thank you Gary for sharing that story. That story highlights the importance of having liquid cash. His liquid cash allowed him to capitalize on some lucrative opportunities.
🙌🏽🙌🏽🙌🏽
Saving cash? You gotta be kidding, cash is the depreciating base, invest your money. Learn to invest. Don't work for money, made the money work for you.
Renting over buying isn’t a good financial decision these days. People do it because it’s like leasing a car, they can bounce when they need to but you’re spending an exorbitant amount to live somewhere when you could spend that same exorbitant amount and own a property and then resell that property for more than you purchased it for down the line. If done correctly. There are good and bad ways to spend money. Cars are typically bad although now used cars are selling for as much as they did when purchased new. Watches are usually bad but most sport Rolexes make money over time if purchased retail. Real estate is probably the only one that will get you rich but you can be smart with money and have fun with those hobbies if you research.
Wow when he said he was 33 renting and then waited to attack. Right now I’m 30 saving saving saving and waiting. Can’t lie I’m getting impatient but damn this helped me
Don’t give up trust the process.
I'm the guy who went to Coachella :))
🔥🔥🔥🔥
How did you know which company to invest in? It's Hundred thousand dollars Bru!!
i was following this path and was renting till 33 and then my folks made me buy 500k house lol for which i had to use all my savings and now i'm back in debt and the house is a liability!
Don't blame your parents. You made the decision to purchase the house.
No shortcut,
Its been the same story since, Napoleon hill wrote down, make alot of money live on less, save every penny!
I don’t save as much as I could, but im comfortable 👍🏻
Are you working a job everyday?
@@networth00
40 hours a week 👍🏻
@@MrGeary08 That's not comfortable imo.
@@networth00
I agree, I prefer working 20ish hours. However I meant financially comfortable.
Sad people don't learn this stuff early. So I should eat more brown rice, fish, and pasta to save.
PB&J
Sir, this is a subway
Im still in an apartment in my 40’s and such
Why would you save money when they are printing money?
I don’t think his point is “only save money”. I think his point is save up a lot of money for when good opportunities come by that you can invest in, like a housing crash and cheap real estate deals or a stock market crash and discounted stocks where you can dump a lot of that “saved” cash and 2X or 3X your money within the next year/couple years possibly. Do you get it? His point is save to invest. You can’t invest if you haven’t saved that money anyway. Build good money saving habits and principles, then invest that money.
So... don't save money since they are printing it? See how far that gets you.
Also, don't eat food because they are growing it.
Investing is really the key to freedom fr
Big fuckn deal if you were renting at 33
In short, Gary, unknowingly followed all of Dave Ramsey's principles lol it works people! There's no secret to it! We just spend sooooo much money on dumb shit. I did it too, but then I changed massively, and am on my way to wealth. You just gotta choose to be the turtle, focused, with a vision, step after step, massive patience, slowly, the gains will come, but most of people are not willing to wait, they have no self control and love instant gratification as well as showing off. That's why they spend money on stupid shit instead of focusing on their future. Be prepared for criticism and friends calling you weird. That's okay. It builds your mental strength. A lot of hares out there! Change your life, choose to be a turtle, a ninja turtle!! hahahaha :D sending you good turtles out there some good vibes from Portugal!
Thank you! So stop asking me why I didn’t buy a house…
Eat fresh
Why saving something that is printed all day
Because it has value. Without it you have nothing.
@@networth00 You are Wrong the VALUE is not in the money is in the product orservice that you buy with it
@@LaliRegi Stop being complicated. You sound like a broke person making excuses.
@@networth00 You dont have idea
@@LaliRegi You are clueless.
Can't eat money... Be prepared with supplies and food. Then save money.
This is a really weird subway commercial
While living with my parents I would manage to spend 15$ a week. When I felt like splurging I spent 20$ and felt like I was spending to much.
As I sit here, eating shit waiting for my moment. But for me, I see this less as a way to get rich but more of a hobby. You know how people get addicted to those clicker games where you click and get more money?. I'm like that but with real money lol. I get a high when I see my money go up
This video is the whole secret
He's not wrong in what he's saying but I think EVERYBODY in this comment section doesn't understand that what he did ain't possible in today's day & age. 1st off he grew up in the 80's. We are now in year 2021. It will b 2022 in a couple more months let that sink in. U cant save everything u earn like he did cuz the average 22 year old got bills. At least 3 or 4. Also this delusional shit about the average person makes $55,000 a year is fuckin STUPID & not true. $55,000 a year is literally more than $25 an hour & even if u did make that much after taxes, bills & inflation..... do I need 2 say more or u get the point?
@@TheGhostVillain I'm actually really glad you said that because while I still meant what I said and it applies, I would have to agree yeah I don't know who these people are with better than $55,000 a year jobs I got a job 5 years ago that started me out at $45,000 a year and I thought I was doing good I made it up to 475 before they fired a bunch of us. I mean I know people who are making 6070 one guy even is making 200,000 a year but those are few and far between so yeah I'm basically going to have to agree with everything you said
@@ec6933 yeah man I dont gotta try 2 make it up. We all living proof my guy. We all living in this time. My plan is 2 just become an athlete by fighting in the UFC. I'm clever but I'm not intelligent. I know myself & I know I dont have the brain capacity 2 get rich by doing what all these millionaires did. But I will b a millionaire because I'm just gonna use the gifts The Creator gave me. I can fight, my body is built with unique muscle genetics, I have common sense & I' m good at reading people & talking in & out of situations. I suggest everyone 2 just capatilize on what they are good at. The money, respect, status, connections & freedom will come later. Right now I'm a warehouse worker making $17.15 an hour. 3 years from now the majority of people who watch combat will all know my name. Handsome.
how about those nfts? haha
Imagine sitting at a Subway restaurant and preaching
🙌🏼🙌🏼🙌🏼💚💚💚💚🧠🧠🔥🧞♂️🧞♂️🧞♂️👏👏👏👏😎💯🦅🇺🇸🇺🇸🇺🇸🙌🏼🙌🏼🙌🏼🙌🏼🙌🏼💚🙌🏼💚🙌🏼🙌🏼🙌🏼🙌🏼🧠🔥🧠🔥🤩💚🙌🏼
He saved $100k plus and then invested so if you don’t it’s pointless..
In other words, saving wasn't important. The investing was really the important part.
The only good reason to save today is you don't know what to do with money
If you don't know what to do, save. If you are a savvy investor, get some Bitcoin
Follow the money. Guess what? The big money isn't going into a savings account....
It all starts by saving money.
@@networth00 No, it all starts with making money, and then doing smart things with the money. Putting in the bank, to get 0.2%, while inflation is 5%, is not smart.
@@InvestBetter. I didn't make much but put money into the bank for 10+ years before I had enough to invest. You gotta start somewhere.
I dropped out of high school in the 11th grade and I never even saw $3,000 until I was 32 years old. I've had my business now for 21 years now and sold millions, which I started with a $300 loan from my mother. Business is actually fairly simple....just like getting in shape is fairly simple but yet people sell books, programs, and make youtube videos as if it is a really complicated subject matter. How do you get in shape? You get off your ass, put in the effort, and go to the gym. Why are most people not in shape? It's not because they don;t know the secret...it's because they don't actually want to put in the hard work and make the sacrifice. You don't need to watch a youtube video to learn how to get in shape and you don't need to watch youtube to become successful. Millions of people will become successful without youtube. I did it before youtube ever existed and so did millions of people prior to the internet. To get you shape...you need to get up and go to the gym on a consistent basis...you will learn as you go. You don't need to have all the answers before you go...it is more important that you just get started than it is that you know everything or have discovered the secret. Same for business. Get a log book....and make a commitment to working on your business idea for at LEAST 2 hours per night. Write in your book what you worked on. Most people enjoy learning about business way more than actually WORKING on their business. It's fun to watch youtube and get excited. It's not fun to do actual work.
It’s sad this whole culture of social media and capitalist greed.. i miss you as the wine guy.. not everyone is going to have a successful youtube or instagram channel. Good for those that do but making money selling false hopes is kind of a dirtbag move.
Why save for a day that may never come you could die before you ever use that money... just live
I will see you back here when you 80 and broke coz you lived longer than you thought...haha
@@okochat Lmaoooo
Saving money is very stupid, it will just inflate over the years...
I think the point is you need a certain amount of cash for any ROI to be substantial. The only way to do that is by lots of saving.
It's all wrong. There's no one on this planet who saves who is wealthy. It needs to be invested.
You can't invest without saving first. I saved for years then invested very wisely. Don't underestimate the power of saving.
Market timing propaganda
Yeah save money so the government can continue to debase. You should be telling people to get educated on how our financial system works. It’s built on credit. Teach people how to use credit wisely. Saving is a fucking waste of time.
Please and please Clean your mouth from bad words then go ahead and teach us what you know.please.with all my respect.
Saving is for SUCKERS !!
Inflation and taxes penalize savers …..Have we learned nothing ?
Invest your money !!!