How I Saved $80K in Two Years [Saving Tips]

  Рет қаралды 67,936

Austin Williams

Жыл бұрын

10 Steps to How I Saved $80,000
In the past two years, I have been able to save $80,000 without receiving inheritance, without a six figure income, and without investing in a risky investment. I saved $80,000 by saving one single dollar at a time.
In this video, I discuss how I saved $80,000 in two short years.
1. Decide you want to own your life
You can either use money to buy tangible things like a house or sports car, or you can use money to buy intangible things like freedom and options. I believe that saving becomes more meaningful when you decide you want the intangible things in life. I decided to save money because I am after the intangible rewards of money.
2. Learn how to manage $100 first
It doesn't matter how much money you have if you do not know how to manage the money. I think that it is a curse to get a bunch of money at once without knowing how to manage it because then it becomes very overwhelming and it is very likely that you will blow the money. Learn how to manage small amounts of money before you manage large amounts of money. Saving is a process and you will respect and manage money better when you start small.
3. Keep your living expenses low
It is much easier to not spend $1 than to make $1. I think the easiest way to make money is by not spending it. If you set out to save money and take the time to find better deals that can lower you life expenses, then you will be able to save more money. The deals are out there, but you have to take the time to look for them.
4. Create a healthy balance of life
You will not be consistent with saving money if you do not create a healthy balance of life. We live in a world of extremes where you either save all of your money or spend all of your money, but extremes are not sustainable. Creating a healthy balance of life where you balance saving and spending is a surefire way to keep you net worth growing consistently.
5. Live an intentional life
Many people live their lives unintentionally, which leads them to waste a lot of money. Living intentionally involves going against society, which can be difficult. It involves you to budget, track your expenses, and make decisions every day to question society. You cannot, however, afford to live life unintentionally because that consumes all of your money.
6. Set aside a specific amount of money
Once you lower your life expenses and start having extra money, you need to determine a specific amount of money to set aside each month to save, put in a savings or investment account, and be patient and consistent. Money is very simple. In order to increase your net worth all you have to do is be consistent and patient.
7. Get your money to start working for you
Once you begin having some extra money, you need to find ways to start getting your money to work for you. Investing in index funds is the simplest way to begin growing your money. There are many other ways to grow your money through investing over time, but your money will not be growing if it is just sitting in a savings account.
8. Become your own bank
It is much better to ask yourself for money instead of asking other people. When you have money and want to make a big purchase, you should be your own bank and use your own money instead of borrowing it from other people. When you become your own bank, you make better financial decisions because it is your own money.
9. Don't let money change you
Just because you have more money doesn't mean that you should start to spend more money. There is nothing wrong with increasing your spending, but just remember that the more you spend, the quicker your money is going to go. Despite how much money you have, you should still make conscious choices with your money because money can leave very quickly.
10. Saving never stops
No matter how much money you have, you should always be saving because you will need money for the rest of your life. There will never come a point where you should stop saving or stop managing your money. The point of money is to give you options and when you have options, you can use your money for more important things in life.

Пікірлер: 322
@ElAgustin
@ElAgustin Жыл бұрын
What's one habit that helps you save money?
@shawnjohnson2833
@shawnjohnson2833 Жыл бұрын
Calculating how many work hours it will take to pay for something. Perspective.
@mrs.bdaycare5530
@mrs.bdaycare5530 Жыл бұрын
Knowing I want to retire in my 50’s and not have to work but work because I want to. And do things I love
@horaciot8277
@horaciot8277 Жыл бұрын
I started making a budget and tracking every expense. It makes a huge difference!
@luciagonzalez4899
@luciagonzalez4899 Жыл бұрын
I added an extra savings account and save $25.00 a week in it, never miss it and it has grown so much with so little effort! That $25 would have been mindlessly spent otherwise.
@lbc1232
@lbc1232 Жыл бұрын
Stay away from convenient online shopping
@radgraham
@radgraham Жыл бұрын
Since watching your videos I have freed up about $1400 a month. 1) Sold my truck back to the dealership and saved $838 a month in a payment. 2) Lowered my insurance by $75 a month. 3) Purchased with cash a 2006 Scion XA that gets 35 to 40 miles per gallon. Saving about $400 a month in gas. 4) Quit all apps. No Amazon Music, no Paramount Plus or Peacock. Freed up about $25 a month. Have free Hulu. 5) Lowered the mbps on my internet like your video talked about and saved $40 per month and the internet speed and service is honestly the same it's been with the bigger plan. 6) Started switching over my cell service from T Mobile to Mint and will save another $55 per month. Thanks again. Trust what you are saying to us we are listening. I am now proof of that.
@mamasheepdog9442
@mamasheepdog9442 Жыл бұрын
That’s awesome 👏
@cynthia6771
@cynthia6771 Жыл бұрын
Great job! Way to commit 😊
@miguelcasillas357
@miguelcasillas357 Жыл бұрын
Wow! That’s amazing! Congrats!👏🏼
@ElAgustin
@ElAgustin Жыл бұрын
Wow!!! Thanks for taking the time to write this. On my end, I am just making videos so I am glad the videos are impactful! Congratulations! That's a pretty big deal!
@rachael943
@rachael943 Жыл бұрын
This is amazing! Excellent job!
@marcoprolo2299
@marcoprolo2299 Жыл бұрын
Stop smoking, stop drinking, stop taking girls out. Go jogging, eat healthy, wake up early and work peacefully. I was in a limbo going nowhere but after I did that my life took off after just a few years of it. I am well off nowadays, have a nice family and we all travel a lot together having great fun.
@sangroncito7551
@sangroncito7551 Жыл бұрын
In 1998, I inherited one million dollars. Twenty years later, I was penniless, and today I live on a very modest social security income. While I had many enriching experiences during those 20 years (my weakness is travel), I also was very careless and wasteful. I wish I'd had your videos as a guide back then to help me find a balance.
@donaldlyons17
@donaldlyons17 Жыл бұрын
If you like to travel how do you think you will end up with money if you had his videos? Even the money I have now I won't have forever and I have to be gainfully and consistently employed to be able to afford to do just about everything!!!!
@sangroncito7551
@sangroncito7551 Жыл бұрын
@@donaldlyons17 By learning to live more frugally, and by thinking more about the future. For example, in hindsight I should have spent less on immediate gratifications and more on buying a home and property that I could enjoy now that I'm older.
@donaldlyons17
@donaldlyons17 Жыл бұрын
@@sangroncito7551 If you did not know or think about it in the past why think that now? It might have turned out very similar even trying to be more frugal!!!
@ThePurpleSnork
@ThePurpleSnork 4 ай бұрын
I realize this comment is old, but I’m a financial planner and sometimes find myself in front of people who are spending their inheritance foolishly. What do you think someone could have said to you in 1998 that could have prevented this?
@adamloveshondas3122
@adamloveshondas3122 4 ай бұрын
Wow must be nice 🤦🏼 goes to show that it’s best to go from broke to rich one dollar at a time than getting the silver spoon gave to you it creates ignorance having money is a mindset first hands down 💯
@XCVi_MAC
@XCVi_MAC Жыл бұрын
My parents both worked minimum wage Jobs, while raising three children. Managed to pay off two properties. My mother always says the easiest way to stay broke is to finance a vehicle every couple years.
@donaldlyons17
@donaldlyons17 Жыл бұрын
Not sure what your mom was thinking. The easiest way I know to stay broke is to not have any income at all!!!!!!!!!!!!!!!!!!!!!!!
@XCVi_MAC
@XCVi_MAC Жыл бұрын
@@donaldlyons17 that’s common sense, don’t you think?
@donaldlyons17
@donaldlyons17 Жыл бұрын
@@XCVi_MAC I don’t think so and this is the reason why. I have known two people who had incomes issues. Neither was employees but both wanted to buy stuff or get access to stuff that normally requires cash!!!! So if it is common sense why did they not have jobs to fund their purchases?
@XCVi_MAC
@XCVi_MAC Жыл бұрын
@@donaldlyons17 it’s common sense for you and I. Others aren’t educated with moneys.
@davidguarin358
@davidguarin358 Жыл бұрын
Your mom Is right
@pedrocatalao2380
@pedrocatalao2380 Жыл бұрын
I have to say this... your channel is the best I've found in many years of youtube Greetings from Portugal.
@ElAgustin
@ElAgustin Жыл бұрын
Thanks!!!!
@AnnMitt
@AnnMitt Жыл бұрын
ignore the celebrities selling products and stay out of shopping malls
@jmc8076
@jmc8076 Жыл бұрын
You don’t have to go to malls to be bombarded by highly effective aspirational marketing. They hire experts incl psychologists for marketing and now AI algos. Infomercials now in most videos to get around YT premium users. Frustrating.
@barbaratozzano6364
@barbaratozzano6364 Жыл бұрын
My only savings goal at this point in my life is to retire. Suzi Orr said, "If you take care of your money, your money will take care of you." I think this is basically what you are saying too. So far, it has proven to be true.
@khaledbnqassim
@khaledbnqassim Жыл бұрын
That means you'll have $400,000 in just 10 years... wow 🤩
@agnesjuhasz7715
@agnesjuhasz7715 Жыл бұрын
I just found your channel recently and I have to say, you have taught me so much already! I love how relatable you are, love your way of explaining your points and I have already saved 3x as much since watching you! The single best thing you have taught me is "1000 1dollar decisons, not 1 1000 dollar decision." And also thank you for the idea of "want and need"- simplifies purchases so much!
@ElAgustin
@ElAgustin Жыл бұрын
Right on!!!!! I'm glad my videos are providing value to your life!!
@LightFigure888
@LightFigure888 Жыл бұрын
Good point about respecting $100 first 💜
@diodorusb
@diodorusb Жыл бұрын
You’ve got a subscriber! Even though I know these things I like to hear you and it motivates me to work harder on saving money. Great video, thanks
@matt0844
@matt0844 Жыл бұрын
This is how I budget my income as 25yo 50% Need / 20% Invest / 20% lifestyle and 10% Give If I don’t use all my 50% for need I will add the left over to Invest Remember we trade TIME for everything in life even money so use your time wisely Good luck y’all
@YvonneOakes59
@YvonneOakes59 Жыл бұрын
Thanks so much for this Austin. Thought provoking and inspirational x
@ElAgustin
@ElAgustin Жыл бұрын
Thanks!!
@temismontenegromontenegro9319
@temismontenegromontenegro9319 Жыл бұрын
Before buying anything I always estimate how much I am willing to pay for it, if it is more than I have thought I simply don't buy it, no regrets. I want to tell you that the quality of the content of your videos is top notch and I am so grateful!!!
@ElizabeteDe
@ElizabeteDe Жыл бұрын
You definitely have the best minimalist, money save videos, and I have seen a LOT 😅
@ElAgustin
@ElAgustin Жыл бұрын
Thanks!!!
@az-qf9ht
@az-qf9ht Жыл бұрын
Yup this guy is the real deal!
@dral22
@dral22 Жыл бұрын
I always learn something from your videos about saving. Respect 🙏🏾
@ElAgustin
@ElAgustin Жыл бұрын
Thanks!
@ThisDadFlips
@ThisDadFlips Жыл бұрын
Please keep doing what you're doing and making these videos, they're fantastic and have literally changed my life.
@ElAgustin
@ElAgustin Жыл бұрын
Right on! I'm happy!
@yumikoinoue6604
@yumikoinoue6604 Жыл бұрын
Great video as always. So articulate about everything.
@ElAgustin
@ElAgustin Жыл бұрын
I appreciate it!
@lodersracing
@lodersracing Жыл бұрын
This is a fantastic video, very simple but effective.
@jus-tinkin
@jus-tinkin Жыл бұрын
Great video Austin
@kwokweng76
@kwokweng76 Жыл бұрын
i love your videos austin........pls keep it coming
@ElAgustin
@ElAgustin Жыл бұрын
I will, don't you worry!
@keciafenton2690
@keciafenton2690 Жыл бұрын
The video is wonderful you caught my attention and that's hard! I really hope you have a book out there.
@neilschipper3741
@neilschipper3741 Жыл бұрын
Always a great and informative video coming from you! You are so wise beyond your years must have had a fantastic foundation growing up.
@monishthomasp
@monishthomasp Жыл бұрын
Awesome advice as always… ❤
@alexwright1330
@alexwright1330 Жыл бұрын
This is really informative, must have watched it a few times already. I'm in the UK but very much enjoy your videos as they apply to everyone no matter were they live. Well done, thankyou 😃.
@ElAgustin
@ElAgustin Жыл бұрын
Thanks! Money is used pretty much everywhere in this world!! haha
@blahblah1438
@blahblah1438 Жыл бұрын
I really enjoyed this video. I’m doing a lot of the things you say to the best I can I have a teenage son so I can’t budget as well as I would like to but I try anyway you’ve just gained a new subscriber
@valeriegrice4775
@valeriegrice4775 Жыл бұрын
Another great video!! Thank you!!!
@chrismel1986
@chrismel1986 Жыл бұрын
i like your tips, they are practical. thanks
@ikammel
@ikammel Жыл бұрын
Keep them coming Austin!!! Thanks so much for your videos. They help put many things into perspective for me.
@ElAgustin
@ElAgustin Жыл бұрын
I will! Thanks for watching!
@Mr_Banker222
@Mr_Banker222 Жыл бұрын
Well said, “money only matters when you don’t have it”
@hassanaabdullahi5019
@hassanaabdullahi5019 Жыл бұрын
One of the best videos I've watched on finances
@ElAgustin
@ElAgustin Жыл бұрын
I appreciate it!
@isabelfernandes8691
@isabelfernandes8691 Жыл бұрын
Have watched this video some 7 times. Very good way to put it!!
@ElAgustin
@ElAgustin Жыл бұрын
I'm glad you enjoyed it!! Thanks!
@lukastynkkinen6960
@lukastynkkinen6960 11 ай бұрын
Thank you for this great video and for talking about this topic.
@marcellemayer4772
@marcellemayer4772 Жыл бұрын
Where I live we have share sheds and they are located where the dump sites and recycling are. Well I save money by picking up free stuff that I can use at the share shed. I also return items I no longer need. It’s also fun. I get to talk with other like minded people.
@georgemarsilio5122
@georgemarsilio5122 Жыл бұрын
I love listening to your vids..you are absolutely amazing..your advice is well worth doing..
@VolaconCarmen
@VolaconCarmen Жыл бұрын
I discover you just a month ago and you have mind blowing videos for living frugally and better investing. Thank you for existing!
@ElAgustin
@ElAgustin Жыл бұрын
Thanks for watching, Vola!
@jurgenschemelzer8369
@jurgenschemelzer8369 Жыл бұрын
Amazing mentality! It’s great to have in savings what other people have in debt
@donaldlyons17
@donaldlyons17 Жыл бұрын
@@jurgenschemelzer8369 Debt is not the issue but income might be.
@jurgenschemelzer8369
@jurgenschemelzer8369 Жыл бұрын
@@donaldlyons17 Debt is the biggest issue in America!
@dianec690
@dianec690 11 ай бұрын
Oh my gosh this makes so much sense !!!
@rrotacan473
@rrotacan473 Жыл бұрын
Thanks for the advice, it's a great help for me.
@MassGainingGuy
@MassGainingGuy Жыл бұрын
I'm addicted to saving money...and I love it!!!
@James-ru8rb
@James-ru8rb 8 ай бұрын
Such practical, noteworthy advice. Strong work, Austin!!
@marianhunt8899
@marianhunt8899 Жыл бұрын
Excellent advice.
@allenbrown9052
@allenbrown9052 10 ай бұрын
You ain’t lyin’! 🧡 🐪
@fabiocappuccini7178
@fabiocappuccini7178 3 ай бұрын
good on you man, i really like your videos, keep the good work :)
@apheshavaldez405
@apheshavaldez405 Жыл бұрын
Great video, I like the way you break it down so the average person with minimal education can understand and benefit.
@ElAgustin
@ElAgustin Жыл бұрын
I try to not confuse myself when I'm making them, haha!
@skyblue3137
@skyblue3137 Жыл бұрын
Demasiado bueno tu programs!! Gracias hermano!!
@hanzysjourney8436
@hanzysjourney8436 Жыл бұрын
Thanks for another great content Austin 😊! I'm on my own journey to financial independence and its about doing the hard stuff now to live a good life later.
@ElAgustin
@ElAgustin Жыл бұрын
Best of luck on your journey!
@ewtwetrwerwteet
@ewtwetrwerwteet Жыл бұрын
Quit my job recently. Needed a few display adaptors for my mac and was recommended a setup by a colleague. Corporate me would just buy now. Freelance me dug a little deeper and found I could get the same stupid adaptors (variations) at more than 60% less. Time poor corporate life: $268.00 + $9 delivery, getting fat in the office. Working for myself: $72.90 pickup and a walk in the sun to the shops. Coffee on the way home.
@RamseyTheProducer
@RamseyTheProducer Жыл бұрын
Thank you for this I live in Colorado too
@goalgreensky4262
@goalgreensky4262 Жыл бұрын
Very informative and helpful thanks for sharing bro
@ElAgustin
@ElAgustin Жыл бұрын
Thanks for watching!
@shess1640
@shess1640 Жыл бұрын
I love your channel and your message. You manage to keep finding new ways to help those of us who want to live on their own terms ( I already do…and watch content like this to keep it that way!).
@ElAgustin
@ElAgustin Жыл бұрын
Thank you so much!
@omarvaquero4672
@omarvaquero4672 2 ай бұрын
This advice is very useful especially in todays broken economy. Rent is crazy
@FrugalGardenerOntario
@FrugalGardenerOntario Жыл бұрын
You are my best financial advisor! Thank you 😊
@ElAgustin
@ElAgustin Жыл бұрын
haha, not a financial advisor. Just a guy on the internet!!
@FrugalGardenerOntario
@FrugalGardenerOntario Жыл бұрын
@@ElAgustin well I trust you, you have nothing to gain by sharing your experiences, and I appreciate that 🙏
@abidashah4943
@abidashah4943 Жыл бұрын
Thank you 😊 good advice .bless u and family 👪 ❤ with joy 😊 peace and happiness always 🙏 ❤ 💛 💖 😊
@observer134
@observer134 11 ай бұрын
Great video thanks
@danuelliaramdeen7373
@danuelliaramdeen7373 Жыл бұрын
Great video
@MyDavidPutnam
@MyDavidPutnam Жыл бұрын
The answer is to have a high income.
@bessieoriotis5104
@bessieoriotis5104 Жыл бұрын
You think a lot like my dad did. That's how he taught me. You are right.
@sharonlugone5955
@sharonlugone5955 Жыл бұрын
A habit that saves me money is to do my own baking. A homemade loaf of bread is a beautiful thing and so much cheaper! Loved this video!❤️❤️❤️
@gen6249
@gen6249 Жыл бұрын
It’s slow, it’s boring but it works...love this x
@ElAgustin
@ElAgustin Жыл бұрын
It's true!
@imaxinebrown694
@imaxinebrown694 Жыл бұрын
Thanks for sharing
@horaciot8277
@horaciot8277 Жыл бұрын
Touch, no touch ✅ Genial, como siempre!
@leichtliving8740
@leichtliving8740 Жыл бұрын
Totally agree Ausin!!!😀❤
@davidjenson7773
@davidjenson7773 Жыл бұрын
Brilliant very applicable for all ages thank you very much for sharing this information and reviewing it once again and reminding us. David chicago
@ElAgustin
@ElAgustin Жыл бұрын
Thanks!
@erinrich2600
@erinrich2600 Жыл бұрын
I was paying only $900 for rent, but my place was sold and now I'm paying $1400 a month. I looked for a better deal but couldn't find one. Hopefully one day, if I keep thinking positively, I will.
@miguelcasillas357
@miguelcasillas357 Жыл бұрын
I really like your perspective of having a balance in your approach to living intentionally. I believe that this type of mindset is sustainable in the long term, as opposed to having an extremist one. Also, I found fascinating the idea of being easier to save $1 than to make $1 , and having more control over your expenses. This goes against the lessons that I was taught growing up about always trying to make more money. Finally, respecting $100 first , and starting off small in order to be able to then respect $100,000 really landed for me. Thanks again! You are really making an impact and shaking up , “conventional wisdom “🤗
@ElAgustin
@ElAgustin Жыл бұрын
Thanks for watching, Miguel!
@donaldlyons17
@donaldlyons17 Жыл бұрын
No you have an income that produced at least half of the 100K. Saving does not nor never will create new money it can only slow to loss of money over time!!!!
@vee8647
@vee8647 2 ай бұрын
This is the breath of fresh air! So many "finance gurus" want you to waste all your hours on deadend side hustles, make risky crypto investments or resort to extreme penny pinching a la the "FIRE" movement. I agree it can be so much more simple than that especially if you can be strategic about your living expenses and big purchases. And finding those rare deals is sooo valuable too! I experienced this many times furniture shopping or apartment hunting. So many people will see two or three items, properties or vacation packages or whatever and then throw their hands up and say "I guess this is what it costs!" I will watch the market like a hawk for 3-6 months and its amazing the deals I have found in my life!
@theveggiecat2147
@theveggiecat2147 Жыл бұрын
I utterly agree, especially speaking of freedom, I discovered that I am not compelled to keep a job that makes me sick, if I've have saved enough money to quit while looking for a better job 🙂🙃
@ElAgustin
@ElAgustin Жыл бұрын
Yes! It's not about never working, but just not being forced to do work you don't enjoy.
@inmerava
@inmerava Жыл бұрын
Excellent video. I watch your videos every morning with my cup of coffee. I think in this way but my husband doesn’t. 😐
@foreverirish132
@foreverirish132 Жыл бұрын
Great tips 😊 I just need to use them now
@ElAgustin
@ElAgustin Жыл бұрын
Good luck!
@isabelbecerra898
@isabelbecerra898 Жыл бұрын
i really like this topic
@sanae418
@sanae418 Жыл бұрын
Many of us need to have "Focus and disciplin" to save money in this world of "Buy now and pay later" I should have known much earlier....
@DesertMav
@DesertMav Жыл бұрын
This video rings very true to me. I've gone from having basically $0 saved to having about $50k saved up in 3 years. I've finally splurged and spent some money the last couple of months, but I am slowing down and getting back into the frugal life again.
@ElAgustin
@ElAgustin Жыл бұрын
Nice!
@ann2433
@ann2433 Жыл бұрын
Thank you so much for your video’s! :)
@cheryllcavada1872
@cheryllcavada1872 Жыл бұрын
.
@camilluhlemon
@camilluhlemon Жыл бұрын
Thanks for the enlightenment, Austin. You have a really nice channel! I love you content: it's concise, relatable, and fun! Keep doing more of these, please. I am in a financial mess right now & would want to start rebuilding my wealth now! #FinancialMinimalistStarter Btw, I'm a new subscriber from the Philippines :)
@melmjetset1876
@melmjetset1876 Жыл бұрын
thx for giving me hope !
@jmarjeta
@jmarjeta Жыл бұрын
Hi Austin, thanks for good content. Can you elaborate a bit how much you have saved and how much gains you have gotten from investments. What types of investments you have. I have some funds, stocks and crowdlending investments. Greetings from Northern Europe.
@kathyrcorbin
@kathyrcorbin 3 ай бұрын
I come from a very frugal family that has a lot of money. The one problem I have with this is when you start cutting your basic needs and then other parts of your life suffer to the point that you go to the other extreme. The best advice I got from a financial planner is being balanced. The more extreme you get your more then likely will go to the other extreme.
@oanahah6181
@oanahah6181 Жыл бұрын
@ElAgustin
@ElAgustin Жыл бұрын
Thanks! Many more ideas to come! No shortage here!!
@Heartford
@Heartford Жыл бұрын
thank you so much
@Anne_Myriam_
@Anne_Myriam_ Жыл бұрын
Could you please mention how much where you making per hour in order to accomplish that goal ? This is very fascinating and I’m speechless
@twomcdonalds4923
@twomcdonalds4923 3 ай бұрын
Im in love with what he says
@lamarcy
@lamarcy Жыл бұрын
With the money you saved and put in the bank, how much taxes you have to pay each year? Is it worth it putting in the bank? Great video. Thanks for sharing
@fernandaglavan
@fernandaglavan Жыл бұрын
Ola from Toronto🎉
@erich6096
@erich6096 Жыл бұрын
Good simple common sense advice. I'm already doing most of these things. I found the incredible deal for lost cost rent in a high rent area also for just $900 a month and it's actually a nice place! My employer sets my pay based on what my average rent is expected to be in a high rent area. They also factor in having and maintaining a car which costs a lot of money in a large city like the one where I live. If I had a typical place and a car where I live I would be living paycheck to paycheck (be broke). The key to creating savings is to live below your means then retain more money than you spend. It's just common sense. I slashed my rent obligation then ditched the car. The location where I live has excellent public transportation. Instead of having a car I go everywhere I need to for $90 a month. That means my rent (including utilities) and transportation total (barley) under $1000 per month. My employer also provides meals when I work there, further cutting my food expenses (by about a third). I also buy store brands whenever possible so I can still have what I want instead of doing without it. They're usually just as good (just don't shop hungry or you'll still buy more stuff than what you really need). With a set up like this it's easy to make a saving plan. It practically happens by itself. After you pay your bills you end up with funds left over each month. The key is to stay on budget is to set a goal. I set aside $1000 a month (The do not touch money). Then built an emergency fund so I never need to touch the "do not touch" money. My fund should already carry me for an entire year. I set up a 401K through my employer. That's low risk free extra money added to my own money for retirement only (after 59 1/2). If your employer contributes to one you should consider contributing to one (unless you want to work until you die). The remainder should just be invested into some solid companies everyone knows will still be here years down the road that will always be in demand. Coca Cola, Home Depot, stuff like that. Then just set it and forget it. Stocks like those will go up and down over the years, but over all they go up. If your patient then wait it out you will end up with a lot more money later. They key to being motivated to continue saving is to have clear goals and a target date for achieving them. If your trying to impress other people in the present you will always keep buying more stuff (I used to do this) then I never saved anything. Keep it simple. My goals are to own my own home and retire. I realized two things. One day I will be too old to work. If I own where I live I'll never be out on the street. Then I should have enough money day to day to live a simple comfortable life. That's it! Simple. Also if I ever lose my job then need to take a lower paying one for any period of time I can still maintain my current lifestyle without stress. It's only my savings which are temporarily effected, not my ability to live day to day or pay my rent.
@richardackley1823
@richardackley1823 8 ай бұрын
Index funds are less risky. S&P500 let’s you buy one fund and it includes 500 of the biggest stocks in the US. Buy it and forget it.
@erich6096
@erich6096 8 ай бұрын
@@richardackley1823 Thank you for the suggestion. I think I will try that next.
@richardackley1823
@richardackley1823 8 ай бұрын
Austin you are God! This video is spot on about savings. Your savings instruction, goals, money protection is very clear. If you can’t manage $100 then $5000 will completely overwhelm you and you’ll need to SPEND it asap to get back into your comfort zone. Brilliant. This was very true when I was trading stocks. Losing or Gaining when I was risking $10K didn’t stress me out as it moved up and down. But risking $100K, or $500K changed my management style and stress level tremendously until I got used to the larger numbers of profit or loss. You have to mentally grow to manage these larger sums of money. That’s why Lottery winners frequently go bankrupt cause they aren’t equipped to deal with large sums of money and need to spend spend spend. I love your methodology, your google sheet, etc. We have to use your examples to learn to save and manage money! Thank you.
@heikebock8761
@heikebock8761 Жыл бұрын
What an intelligent, high quality channel!
@ElAgustin
@ElAgustin Жыл бұрын
I appreciate it! I'm trying!
@drteeka7883
@drteeka7883 4 ай бұрын
That's impressive
@fatousolan6911
@fatousolan6911 Жыл бұрын
I really like you you teaching me like lessons
@ElAgustin
@ElAgustin Жыл бұрын
Right on! Thanks!
@purpledream1045
@purpledream1045 Жыл бұрын
Great video! Thanks for sharing. My problem is I don’t know how to invest money. I invested stocks and mutual fund but the most time I lost the money.
@katherineskwarczynski6002
@katherineskwarczynski6002 Жыл бұрын
I would love to see how to get to money compounding. At that point every frugal video ends. Austin, please show us how to actually do it. Younger generation maybe knows how, but older crowd needs more than just saying “get mutual funds”.
@jsangel567
@jsangel567 Жыл бұрын
Long term investment, gotta leave your investment through the ups and downs.
@gainde1137
@gainde1137 Жыл бұрын
Working part-time rules!
@georgiaanderson7025
@georgiaanderson7025 Жыл бұрын
Money isn't real.... George...it doesn't matter... My favorite quote 😄 thanks for another great video
@seancanterbury3077
@seancanterbury3077 Жыл бұрын
Fantastico Augustine!
@ElAgustin
@ElAgustin Жыл бұрын
Wow! Thanks Sean!
@meredithelbert6608
@meredithelbert6608 7 ай бұрын
I’m saving and investing around 70 percent of my income in the financial market(high yield etfs, stocks etc) pretty much how I made my first million although with an FA. I have a high paying engineering job, and I live upstate NYC. my expenses are low. I have zero debt, low rent and car truck paid off. So i can just save. feel lucky at this point I'm actually grateful for my advisor handling my portfolio.
@robertthurmond8161
@robertthurmond8161 7 ай бұрын
Truly Stocks, ETFs and Mutual funds are the best investment decision you can make both short term and long term for steady money flow. Kudos
@tonimhamilton2072
@tonimhamilton2072 7 ай бұрын
recently started in stocks and I don't mind investing a substantial sum, i'd like to know your advisor ?
@meredithelbert6608
@meredithelbert6608 7 ай бұрын
certainly, she goes by Emily Lois Parker…she's quite known, search her up for her info
@Lorre386
@Lorre386 7 ай бұрын
I was able to find her webpage and leave a mail after going through her credentials, i'm willing to make consultations to improve my portfolio
@ericwilde4583
@ericwilde4583 7 ай бұрын
She really seems to know her stuff. I also found her online page and read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her
@imnivek5718
@imnivek5718 Жыл бұрын
great channel! : )
@ElAgustin
@ElAgustin Жыл бұрын
Thanks!
@user-sq9vw1sz4g
@user-sq9vw1sz4g 5 ай бұрын
I need advice on how to save on homeowners insurance. It is my biggest expense. I live where hurricanes occur. (About 10 miles from the beach) I paid my mortgage off before I retired. Lived in my home 30 years. Sometimes I wonder if I should just not have insurance any more.
@cafepr
@cafepr Жыл бұрын
Muchas gracias, que tengas un buen dia. Yo soy Austin. Nos vemos 😂 so cute
@asavannah7439
@asavannah7439 Жыл бұрын
The only thing I really like spending on is traveling 🥰 Other than that I love saving and my husband and I have zero debt
@ElAgustin
@ElAgustin Жыл бұрын
Same!
@marcoprolo2299
@marcoprolo2299 Жыл бұрын
Same
@jmc8076
@jmc8076 Жыл бұрын
Travelling while still healthy builds memories you’ll never regret. More valuable when much older then things.
@hereim5648
@hereim5648 Жыл бұрын
Where do you invest? I need advice.
@ccalub95126
@ccalub95126 Жыл бұрын
After I get out of debt, I will practice your advice. Credit cards, loans, ugh. Enjoy the channel
Haha😂 Power💪 #trending #funny #viral #shorts
00:18
Reaction Station TV
Рет қаралды 15 МЛН
MEGA BOXES ARE BACK!!!
08:53
Brawl Stars
Рет қаралды 34 МЛН
He sees meat everywhere 😄🥩
00:11
AngLova
Рет қаралды 10 МЛН
LAVOU TÁ NOVA!
0:11
DAIANE VARGAS
Рет қаралды 41 МЛН
I Built 100 Houses And Gave Them Away!
9:36
MrBeast
Рет қаралды 59 МЛН
Survival skills: A great idea with duct tape #survival #lifehacks #camping
0:27