How Much Money Michael Reeves Spends

How Much Michael Reeves Spends - Full Video Here: • My Response To Michael... | Add me on Instagram: GPStephan
GET YOUR FREE STOCK WORTH UP TO $1000 ON PUBLIC & READ MY THOUGHTS ON THE MARKET - USE CODE GRAHAM: www.public.com/graham
NEW BANKROLL COFFEE NOW FOR SALE: www.bankrollcoffee.com
GET MY WEEKLY EMAIL MARKET RECAP NEWSLETTER: grahamstephan.com/newsletter
The KZbin Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on KZbin, rank videos on the front page of searches, grow your following, and turn that into another income source: the-real-estate-agent-academy... - $100 OFF WITH CODE 100OFF
My ENTIRE Camera and Recording Equipment:
www.amazon.com/shop/grahamste...
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/

[@GrahamStephan]

Full Video Here: kzbin.info/www/bejne/eoazdZ5-dt2lb9U Claim Your Free Stock Worth Up To $1000 With Our Sponsor: www.public.com/graham

[@miketootall2973]

Thank you for the full video link.

[@vikinglife6316]

You dont need credit if you have cash. Im 45 and never used credit. Always paid for everything.

[@D-Dova]

​@Viking Life this guy gives the worse advice he is sponsored by banks to make people get debt and credit cards

[@rokopalada571]

Why to finance it when you can buy it, food is most expensive thing for every human you dont need house apartament car etc but you must have food to survive.

[@D-Dova]

@@rokopalada571 you need a living space to survive house apartment shelter etc

[@jeffreycho236]

If he can rent a house without even knowing what the rent is and buy a car without getting a loan, he doesn’t need a credit card.

[@imsotallytober5]

Their type of job is not garenteed forever. Having good credit to fall back on, if their current career fails, is a good idea. Sure, he can buy a Tesla with cash now, but when he is 40 and the money isn't rolling in, credit is very handy. He will most likely never be hurting for money, but the money will definitely slow down. Michael is a genius, he's got this. Edit: please stop replying to me with your complete ignorance about the credit system. Just because you don't see benefits of good credit doesn't mean there aren't any. There's a reason any person that has a degree in economics is going to recommend building credit.

[@business7417]

If he already had one and just used it to buy food but made sure to pay it off every month he would have a great credit score, add in his income, that allows for higher credit limits. He now has good credit with high limits and low utilization, add in his income and he could be paying half what he is charged for rent on an actual mortgage.

[@pokejm2199]

@@imsotallytober5 if you didn’t know he is actually really smart in engineering. Im pretty sure if his channel crashes he could probably get an engineering job

[@imsotallytober5]

@@pokejm2199 you don't just get jobs in engineering. He doesn't even have a college degree. He might eventually be able to land a job, but his resume is basically nonexistent.

[@danielwang5981]

@@imsotallytober5 and that job gap would really hinder him. I mean all the personal projects might be good to put onto a resume though

[@tatsuyashiba6931]

Not even banks are that committed to forcing someone into a credit card

[@wiktorhood8475]

True, shame US went all in into credit cards than debit cards and spending money hey promised to make instead of money they make. How commited to finnacially enslave people you gotta be to make an entire nation think that living on credit is a norm by default.

[@alexlilano1931]

I agree. He is doing super well with his money. Credit cards are also a little dangerous too.

[@gintoki9573]

@@alexlilano1931not if you know how to use a credit card wisely

[@imrebarten6115]

​@@gintoki9573which means that for those who don't its dangerous. Can quickly lead people to spend money they don't have

[@thathooligangirl77]

@@alexlilano1931 credit cards are only dangerous if you’re broke 😂

[@jumpingjj5764]

His food is $1k a month, and his rent is around 2k a month, AND he bought his car in FULL, he doesn’t need a credit card💀

[@icon-emerald9517]

He doesnt for real, he shouldnt be allowed to have one because he will actually put himself in debt. Kid has zero clue how much he makes and spends, Id kill to be his accountant free money 😂

[@jumpingjj5764]

@@icon-emerald9517 I’m literally trying to get a degree as an accountant, if this guy or anyone that has the same brain as this guy hires me, all I need to do is 10 hours A WEEK for just doing accounting things and I’ll be set for life

[@TyDogon23]

He actually does need a credit card he needs his money to make more money before it runs out he needs a credit card more than most people. Credit is the only way to actively make money with your money.

[@joshuajespersen3336]

​@@TyDogon23investing in stocks does that too

[@TyDogon23]

@@joshuajespersen3336 that isn't active that is passive.

[@jermainerace4156]

Never being in debt is literally the best possible thing you can do for yourself financially.

[@Americansikkunt]

Can’t pay taxes on debt….

[@tvc1028]

That's why the richest people pay for everything with loans?

[@ThisDique]

If you don't go into debt you can never rent or buy a house. No credit history means unless you have mommy and daddy taking care of their little girl, you're never going to escape having roommates. Our entire economy is based on someone else's debt. Ferment on that longstanding preponderance before you give a young person advice that will set them back 10 years.

[@youraveragegamer8832]

Kind of. Debt can be useful, but it can also be stressful if you don't know how to handle it. If you don't think you can handle debt, do not take on debt

[@casheverett6300]

@@tvc1028because its worth it for the 0.01% to do that. They lose MILLIONS of dollars on taxes if they dont cheat the system.

[@Robin-eh2uo]

It’s not a problem, it’s a fucking blessing.

[@MtnDewWarrior]

It's a problem

[@LordSplynter]

​@@MtnDewWarriorit's not when he already has generational wealth built

[@MtnDewWarrior]

@@LordSplynter doubt that

[@Mr.PanamaHimself]

@@MtnDewWarriordefinitely not generational(not yet at least but he has enough money now to were if this all didn’t work out he’d last a good 10-20 years

[@pablo4yu]

I saved up… bought my car cash a 2013 srt8 charger super bee. I am renting a house but because i am moving next year so no point in being tied down to my current hosue… phone is bought out i pay for pre paid… zero debt but also zero credit. Genuinely so liberating that if i suddenly forget and cant pau something, it wont have horrible consequences, ill just be like oops guess ill pay it when i get my return, STOP BEING A DEBT SLAVE U DO NOT NEED A NICE CAR JUST FIX UR CURRENT ONE UP!!!

[@danielwinslow6808]

Anyone this unaware of how their money comes and goes does NOT need a credit card.

[@jeffsorrows]

My man is spending more money on food then he is on my share of rent 😭📉

[@sebastiannickerson6653]

​@@jeffsorrows just saying so do I lol my rents 650 and I pay about 7-800 for food a month

[@disgrandpa247]

i mean everyone needs a credit card at some point, or you dont get a credit score for loans, yknow?

[@TheWheatless]

Rich people benefit the most from credit card rewards programs

[@disgrandpa247]

@@TheWheatless and also everything else, you still need a credit card

[@Nightbird.]

This is called having enough money to do what you want. We should all be so lucky to be like this kid. Now leave him alone already before you put him in debt!

[@NekaiXD]

Bro is 24

[@almondsai7214]

@@NekaiXD What do you mean? He's clearly 12.

[@chaosdragun1608]

For now lol. Kid clearly has no idea what he's spending & thinks $1000 on food is a bigger expense than $2000 in rent for some reason. He's lucky to have made it this far but if the wheels ever fall off idk if he has the knowhow to rebound. If you can afford $1000 on food buy the food with credit, pay it off before its due and build your credit score without taking debt....although he seems so aloof it probably won't pay it off on time anyway lol

[@GaryBigtoes]

I agree with Reeves on this. No debt is best. Credit is debt. Avoid if you can, and he definitely can.

[@matthewhoward3154]

Credit is debt but a credit card is not debt if you’re paying it off every month. It’s literally just free money you’re throwing away by not using one lol

[@livephysiology]

Imagine he gets a credit card that he used only once, so he forgot to pay the bill, and his credit score ironically ended up worse than if he had never tried to build it by getting a credit card.

[@alexandertombs2177]

Happened to me lolol

[@julianreyna7054]

@@alexandertombs2177 did u ever make it out the situation

[@Cnvio19]

imagine you order doordash once and the price is now $5000

[@NamesNCF]

@@Cnvio19interest man

[@alexandertombs2177]

@@julianreyna7054 yeah I did but it was a bit of a drag

[@raymondlipps3775]

Dude interviewing him doesn’t realize how financially free he is

[@dumpsterfire9797]

The dude interviewing him is Graham Stephan, a multi-millionaire finance educator and land-lord You can only buy luxury cars until your KZbin career crashes. After that you're on your own. Graham trynna hook him up so he doesn't suffer stupidly in the future

[@axeptzion]

​@@dumpsterfire9797 He has enough money to never make another video again already, but of course his channel won't crash anyway so

[@johnnyc5655]

@@axeptzion that’s a lot of confidence in someone you don’t know on a personal level at all. Not having a back up plan or not being prepared for the future is a bad idea. I think that’s the whole message this guy is getting at. But hey you’re the one getting offended because you feel like your parasocial relationship with this famous person matters.

[@vkingcaesar]

@@axeptzion I mean yeah if he lived moderately lol he’s buying teslas eating out every day that moneys gonna dry up real quick and yes KZbin could end one day lol People thought MySpace would be forever a popular social media but here we are today lmao still there but definitely dead by most counts

[@olidouze8022]

​@@dumpsterfire9797 Graham is sued for chilling a ponzi scheme...

[@PythonicIe]

"I dont... know how to do that..." same brotha, difference is, I aint rich enough to pay flat out

[@geovani60624]

you don't need to be, you just need to save, I'm not rich but I buy everything I have in full

[@keaganreybold5181]

"You're totally financially stable with no debt or worries? Lets fix that."

[@theexodeus]

Michael wearing a shirt that says anxiety while dude gives him financial advice in a CEO fit is very fitting

[@amaas211]

Bad financial advice

[@ColinAverill]

​@@amaas211 Exactly what I was going to comment.

[@tuffy135ify]

Most financial advice from someone on the internet is bad advice. Much like medical or legal....just don't get advice from internet personalities.

[@ko-Daegu]

The same guy who advices people to buy into FTX

[@livedandletdie]

Had I had Michael's Amount of Money, I wouldn't have any anxiety, I'd be rich.

[@milos1336]

"That's a problem" Bro wants a guy to get in debt💀

[@Styles_Breez]

..you dont understand credit scores apparently.

[@Tiernan422]

@@Styles_BreezI’ve come to realize that most people think that the minimum payment is all you’re “supposed” to pay so when they get interest charge they get confused and then they don’t know why they’re in debt but they know debt is bad

[@Styles_Breez]

@@Tiernan422 Sounds like you're talking about the same kind of ppl that know nothing of credit scores. But yeah that's another common mistake.. which really shouldn't happen nowadays when a quick Google search can explain all the ways to maintain/build credit.

[@saladgreens912]

@@Styles_BreezPeople who don’t understand the importance of credit score confuse me. No credit is worse than bad credit. Get a credit card and be responsible with it come on you are an adult now.

[@jlmurph2]

You don't go into debt just by having a credit card. It's when you don't pay it off

[@Baricade648]

Graham being so uncomfortable around a Chad gives me joy.

[@evanpysher6508]

I envy his lackadaisical approach to adult issues that stress all of us out

[@senseilekai704]

Guy tryna put bro in needless debt 😭😭

[@PepTalkTillYouDrop]

I was thinking the same thing

[@ProjectSincere]

Not exactly, firstly you should never put anything on a card you can't just pay for flat out. Secondly use your cash to invest not buy things like food and cars. Being liquid grants your power and bad investments waste that power. Lastly credit cards give you so many perks for doing what you already do anyway plus cash back making things actually cheaper.

[@thecountercounter9127]

​​@@ProjectSincereah, yes. Just. Dont buy food. Mhm. Yeah, that makes sense! Just dont sustain yourself! Just dont get one of the many things that is absolutely and necessary for literally just being alive! All your credibility instantly went out the door the moment you said that.

[@ProjectSincere]

@thecountercounter9127 I'm sorry. I thought any person with minimal intelligence would be able to deduce that he and I meant eating out constantly instead of cooking as his largest expense is food, which is just ridiculous

[@zephyrko8rn]

Yu are so right. Credit card debt will double /triple your cost.Why do it if don't need to? This guy knows what he's doing. Don't try to fix something that doesn't need fixing! owd

[@bananaman5590]

“You’re rich as hell and living life to its fullest and not making horrible decisions, so let’s make everything infinitely more complicated and stressful”

[@Wolfstanus]

He has no idea how much money is going out vs how much he is earning. thats a huge problem and there are plenty of former multi millionaires out there that are now poor or homeless because they had no clue how to manage their money

[@OneOfTheLoveless]

​@@Wolfstanussource?

[@OneOfTheLoveless]

Oh all these random charges on my credit card, guess I'll have to pay them. Oh no.. Where money?

[@OneOfTheLoveless]

​@@Wolfstanushe was looking at his phone too, so he probably has a bank account with internet banking, so he knows how much he has and is spending, just not by heart.

[@Wolfstanus]

@@OneOfTheLoveless google it guy. Just because you have a million or two doesn't mean you're immune from going poor or even homless. Me giving you a link is just going to get the comment removed for spam Tge fact he has no clue what his main bills are shows he has zero money management skills. He admits he keeps track of nothing

[@trh215]

The best credit history is no credits at all.

[@23RD]

Bro is living his best life and this guy comes in “let me put you into debt for no reason” 😂

[@perduedoo]

He’s already figured life out successfully without playing the credit game. MAJOR win

[@jamesdagmond]

Idk sounds like he's just blowing all his money to me. Hopefully he has plenty put aside.

[@JuanAntonioGarciaHeredia]

​@@jamesdagmondBros is a fcking genius. He is just built different, like he is the type of man who becomes a multimillionaire when he is in his 30's

[@justsomeguy6969]

​@@JuanAntonioGarciaHerediano his blowing his money, even if he can do that now doesn't mean he shouldn't be smarter with that much money

[@marcusbruns9729]

It's not a game if you know what you're doing. I got to 850 with no problems. Never spend what you don't have and you'll never have debt. Don't put anything on the card that you don't have cash to cover already.

[@xboxisgay6240]

@@NolanWalker-nd7mbhe doesnt want any of that tho

[@poloshvt]

He doesn’t need a credit card he just needs to understand financial literacy

[@smiledance4933]

If you understand financial literacy you would have a credit card. It's free money (cash back) and builds your credit.

[@robv5834]

You have to have credit to be financially literate.

[@YouTube_is_full_of_trolls]

He needs to build a credit score... unless he finances something he will be handcuffed in life

[@GoldenOoby]

​@@smiledance4933It is not free money

[@GoldenOoby]

​@@KZbin_is_full_of_trollsYou can do that with any sort of loan. Car, house, and student loans will all work.

[@jrbabae]

To be able to say, I bought my car and quite don't know the rent payment every month. This is where I want to be living and working for. 😂😂

[@tsblock5230]

Let him live his humble life bro

[@Ancient_Path]

“I don’t know what rent is” The financially secure response

[@Anatime714]

He's not secure. If he doesn't start taking care of his money, he will be broke by 35. Not knowing your bills is a sign of recklessness.

[@deathendroad]

​@@Anatime714that's not actually accurate now it may be for you and your situation but not everybody knows what their bills are they just know that there's bills that are getting taken out each month it doesn't mean that they're not working it doesn't mean that they don't know what's in their bank account there comes a point where you mentally know what your bills are but you end up just saying I've been paying this amount for so long I know where I'm at and if I keep going down this path I'll be fine a lot of people live that way

[@wjanus]

@@Anatime714 god i’m sorry nobody taught you what a joke is growing up 😕💔💔😢

[@dylannangy5182]

@@wjanus 😂😭😭

[@doflya129]

I thought it was because he lives in a content creator house so maybe it’s in the contract

[@MujahidOmer]

It’s almost as if he’s sad to see the guy so financially free.

[@robertburton8055]

If he doesn’t know how much his rent is and he can’t do the math that he’s spending $1000 a month but thinks it’s less than the $2k a month he’s spending on rent….. he’s not financially free, he’s just been lucky up until this point

[@cortappel6951]

financially free but doesnt own his house🤨

[@CloudBlorb]

​@@cortappel6951why would you want to 9wn a house and weld yousef to one locstion?

[@landonwright2768]

@@CloudBlorbcause when you pay rent your literally paying someone else’s mortgage that they’re making money off of

[@CloudBlorb]

@@landonwright2768 I mean when you buy a house for a 200+k$ you are still making someone richer or a company more lucrative so meh

[@Nanodelabarra]

“Something from chase” is so real

[@leaf4224]

Grahams worst nightmare just casually sitting right next to him 🤣

[@possesses.]

Dude's a menace

[@zewdrel8458]

And the guy that beaten him in a boxing match

[@dankuwu8930]

ngl micheal looks hella happy without all the financial jazz and honestly im happy for him

[@steventolerhan5110]

Ignorance is bliss, Bliss is fleeting,

[@PinkMonkeyBird]

Almost like he's incomprehensibly rich that he doesn't have to worry about any of that "financial jazz"

[@cisestar]

Mind your own financial bah

[@roninunrefined1637]

You can have a lot of money and not think about it until you stop making money because you’re worn out from what you do and realize you have no reimbursable income and eventually go broke even though you’re rich. Because taxes is still a thing especially when you’re rich and if you start not being as rich then those taxes get spooky fast.

[@ChilledBacon]

@@PinkMonkeyBird he’s not, he makes his pay, doesn’t spend much, and most of his builds are marked as business expenses?

[@michelangelo5903]

i feel this dude because i was just sent out here with no understanding of credit or investing or insurance nothing! i’m figuring it out on my own little by little i’m just super good at saving money and have a low cost of living. most of the time i just work- go home and repeat. to some it’s boring but to me i see $$ saved lol

[@slicenrice9236]

Kiddo got nervous when it came to the credit card situation 😂

[@dragonfire2246]

Guy's anxiety shirt fit the entire situation really well.

[@LaFlame1]

He looks like anxiety if anxiety was a person smh 😂

[@GaijinCreature]

His name is Michael Reeves and he thrives on chaos.

[@user-wl7vw4cs1v]

@@GaijinCreature more like shies away from it

[@elderassassin9673]

This gave me anxiety these are all survival things for us

[@SuperThesavage]

@@elderassassin9673 no they arent

[@mavzdog]

“Why didn’t you finance it?” “Because that’s stupid.”

[@Fightre_Flighte]

That's what I immediately thought.

[@bentate6288]

I mean unless you plan on keeping that car for the rest of your life I’d just finance a car get the newest model each year for a few hundred bucks a month or buy something that basically isn’t even an asset

[@austin7118]

and guess what the only people who can skip financing have money. because they wont sell it to you without credit unless u buy it out. So.. he had no choice

[@tuffy135ify]

Imagine having the money to buy a car outright and being like "No, I want to pay MORE for it!"

[@whitericeboi]

​@@tuffy135ifywhen you have the money that these guys have it's probably better to lease expensive cars. It's a depreciating asset so it's better to keep the lump sum and invest it then it is to sink a ton into a new Lambo and basically lose half the value immediately.

[@jimbanks206]

I wish I could escape this crippling debt, and then there are these videos, sad times who out there is rich enough to help. :/

[@caseyleirer9677]

“Food is my biggest expense” Rent is double food lol. I wish I could forget about rent.

[@_Shakur]

“I have no debt, pay for everything with cash and my car is completely paid off.” Graham: “That’s a problem”

[@bschwentner21]

I know this is just a joke, but it actually can be a problem for some people. Getting credit cards or a PLC (IF you are responsible with your money) is important to build up good credit, which allows you to more easily buy a house or start a business. Obviously it doesn't matter for someone filthy rich like Michael, but it can matter a lot for the average person.

[@hemlock9026]

debit card has left the chat

[@shalizzle793]

Do you people know how credit works lmao?

[@Bozeema]

​@@bschwentner21 Yep, the problem is the banking system. Apparently only people who intentionally get into debt can get a good credit score. People like this with no debt are somehow high-risk. Shit's weird and backwards.

[@smoodude]

@@Bozeema They’re high risk because there’s nothing to base risk off so banks will play it safe. If you were to loan money to a stranger wouldn’t you rather start small as you build trust? Not trying to defends banks or anything but it doesn’t seem backwards at all to me really

[@qwertyman747]

“My biggest expense is food” Immediately says that rent is double what food is.

[@sakariajama1362]

Exactly! 😂

[@chinoto1]

The sorting function he wrote has a bug in it.

[@TheForbiddenMoon]

well rent in california is insane and for sure alot more where they live

[@Chri710]

He makes a lot off one video a year. I think he’s good

[@OneOfDisease]

I would be willing to bet someone else takes care of all his finances, they got him a high limit credit card for random large purchases but he can't be bothered.

[@casper75559]

For the love of god. He’s being kind hearted and thinking he won’t fall off or worse like something serious happens

[@caseybillups5163]

As a financial planner, this sounds like my day a lot of times…

[@koaga645]

"I'm going to sign you up for a credit card." Sounds like a threat.

[@marieq9936]

Its the worst part of the video “we’re gonna sign you up with a credit card”

[@eggheadx2k]

yeah. "Let me ruin your life for you even though you can buy your house with cash."

[@royk7712]

Yep. Just don't. If something expensive don't buy it. Buy it after you have money so you don't in debt. It's common sense around the world except the greatest country in the world

[@HaloWolf102]

It's actually a saving grace for people in the US. If my father never signed me up for a credit card, and put my name on a bill, I couldn't have purchased a home.

[@marekfritz490]

Don't sign him up

[@thatcrystalpie]

"We're gonna sign you up for a credit card" is probably one of the most threatening statements I've ever heard

[@coinbash626]

lmao yea😂

[@M54B30_fan]

Bro never heard of a FICO score or credit card benefits apparently

[@machinema100]

That’s the most threatening statement you’ve ever heard?

[@AmunRa1]

It's up there with "you're going to Brazil"

[@briankelly7738]

​@MBFan-ch1xo you don't need that if you are flush with cash.

[@heartofdawnlight]

his daily food budget is my weekly lmao. granted ordering takeout instead of ending a stream can actually be hella benificial but still

[@extrasupperdupper]

buying something without credit card is blessing, infact you have enough money to buy stuffs

[@bawb244]

Dude doesn't even need a credit card.

[@peyotekaiyote4312]

Chase is pretty dope with cashback rewards for groceries and restaurants. He'd get paid for what he already spends. Not a problem if he pays it off in full every month.

[@SeraphsWitness]

​@@peyotekaiyote4312why do that? The rewards are petty. Rich people don't think this way.

[@MedievalWaffle365]

At least a credit card would be a nice precaution if his account were to ever get hacked. People have had their cards hacked from gas stations before and its easier to deal with a stolen credit card vs stolen debit card. Plus if he ever needs credit for anything like buying a house, he's able to get a loan. Id rather have credit and end up not needing it then not having credit and needing it

[@SeraphsWitness]

@@MedievalWaffle365 Debit cards have the same protection as credit cards. You can even run a debit card as credit.

[@helloxonsfan]

Plus, it's better to avoid being a credit card holder if one can't be responsible with it. And the guy seems to know he falls into that category.

[@Otogi9yo]

being able to live without credit nowadays is a freakin miracle, dont let him into it unless its a last resort.

[@kevinireland8020]

Having credit and using credit are two different things.

[@mrchaos5328]

@@kevinireland8020 ong

[@reginaldmustardbacon5866]

@@kevinireland8020 fair point but it seems he honestly doesnt need to use it

[@codysmith605]

Ilive just fine without a credit card. Enjoy your debt slavery

[@I-R_kratos]

No it's not. I've never had a credit card and own my house 220k cash the trick is not to buy things you don't fucking need

[@UnexpectingDuck]

The only actual benefit about credit cards is the bonuses they can give, but if you’re rich enough anyway it’s just not worth it.

[@parkjiminismylight6441]

Caleb would let out a micky mouse scream just by hearing that having no credit card is a problem!!!

[@hshrr7e]

"I can afford to buy things without paying interest on a loan." "You're dumb."

[@DankAlien2580]

Loans helps reduce taxes which end up being more than the interest of lon. Why do you think billionaires have large debts for long periods of time? They are clearly not dumb are they

[@aaroncousins4750]

​@@DankAlien2580 billionaires have debts because their investment returns more than the loan interest, tax is irrelevant. If i buy a house and rent it out, and my income covers more than my interest, i should buy another house instead of paying it off. This is what billionaires do on a much much larger scale

[@badcholesterol]

@@DankAlien2580 loans reduce taxes? What?

[@BedroomPianist]

​@@DankAlien2580That is just flat out wrong. Billionaires have a lot of debt because they collateralize their debt against their shares so they don't have to sell their shares and incur a taxable event. In other words, they efficiently handle their billion dollar net worths with a tax strategy. They don't just go out and take out loans like us poor peasants.

[@JM-kv2kn]

@@aaroncousins4750 Tax is very much the reason they use stock assets as collateral. If average people don't know this that's fine. But to be a hard headed kid who refuses to learn is beyond me. Stfu and listen.

[@ricroflxD]

As an European the fact that not having a credit card "is a problem" in America is mind-blowing. Living with a debit card and spending within your means is a frowned upon existence there it seems.

[@Joni_I]

Exactly

[@nootnootimaboot8798]

it actually is bc even if you have the monetary means for things, a lot of things also require having some minimum credit score, like insurance companies

[@BioTheHuman]

In fact I've never understood that. How does it work in America? You just buy a plastic card and spend how much you want without having money to back it? Why should someone do it? EDIT: Guys ple stop replying to my comment. I've understood it, you're all giving me the same info over and over 🤕

[@samanthajones4797]

That’s not how it works. As an American* you need good credit to buy a home and all other big expenses. Everything is so expensive here that people don’t buy things in cash. Yes it’s fucked up but if you want a home you need to get a credit card and start building good credit or you will be homeless.. so he isn’t being frowned upon for being able to afford a car, he is frowned upon for not being responsible with his credit because he is an adult and should know better

[@samanthajones4797]

@@BioTheHuman that’s not how credit cards are supposed to be used obviously you don’t spend what you don’t have you use it to build credit idk why that is a difficult concept for people

[@snifey7694]

I could quite relate with Reeves, food prices on your fav Uber eats gets hefty. Plus as long you know who is the restaurant nearby, you just not going to order it because either you know the teriffic taste or Terrifying taste in contrast or you just craving fried chicken

[@oh_knee7173]

If you want to buy something with out looking at the price tag you have to work without looking at the clock

[@helpmegetbetter4940]

Interviewer said "that's a problem" like he didn't just hear that this kid bought a Tesla with cash.

[@goodvybe679]

Nothing lasts forever

[@BrookeeTee]

It might work now but won’t work when it comes to buying a house 10 years down the road w no credit

[@Waawaaweewaa_]

“Interviewer” has 10x his money easily lmfao

[@sammyauscux9529]

@@BrookeeTee I don't think someone who can just buy a Tesla with cash and downs 1k ish a month on food and 2k on rent has any problems on saving up enough money over 10 years to buy a house without a loan.

[@christopherbialas899]

​@@sammyauscux9529 the problem with this thought is that his income is based on his relevance on the internet, which does not last long in general. He has to stay fresh and popular in order to afford this lifestyle, and who knows if he's saving any money currently. His overall income will decline, and then not having credit is where he gets bit in the ass

[@shadeshrike4205]

"So can you do this adult thing" "No, dont talk to me" Felt that Micheal

[@alanmueller2027]

except michael’s rich, you’re probably just a poorly adjusted adult

[@IKnowDion]

@@alanmueller2027Rather be that.

[@pikadragon2783]

@@alanmueller2027 .... So?

[@hurriyetkaraoglu7998]

Lol 😂 so his bad at adulting cause he doesn't need a credit card 😅

[@LeshshatziBlogspot]

Having a credit card is adult thing ? Hmm...are you joking 😂😂

[@OneRadicalDreamer]

Part of me resents that my guy can just flippantly pay for luxuries as necessities, but also respect his debt free lifestyle.

[@livingl3g3ndjackson38]

Bro if anyone talking abt him not needing a credit card for not keeping track of his expenses everyones winging it some more than others just be thankful he can COMFORTABLY live a stress free life

[@ConstipatedTree]

Chase: send this man a credit card Mike: never activates card Chase: send him a black one.

[@ChaseOGLP]

😐

[@loadthebowl]

Who is Michael Reeves is he rich?

[@SaabStory636]

@@loadthebowlPopular youtuber

[@ConstipatedTree]

@@loadthebowl yes lol

[@Mr.Moore23]

I don’t get the joke

[@imkadmi9231]

bro said, you are not in debt, lets get you a credit card.

[@redscorpion9325]

😂

[@johnnydadesh5440]

It’s about credit score not debt

[@zenspeed404]

It's about establishing a credit score. Credit cards are only a disaster if you don't know how to use them. Basically, don't buy what you can't afford, then pay off the balance every month (because it's money you would have spent anyway) and you're golden.

[@kingconrad4577]

Seeing Rob again is just great, i missed him

[@byLags]

“Something from CHASE” casually

[@certainlynotmaindenless2315]

There is a saying in engineering: If something is working fine and does its job, then don't change it, you just risk tipping over the equilibrium

[@kugelblitz-8614]

same with programming - if it works you never touch it unless you absolutely have to

[@at12344]

these are just fancy ways to say if it’s not broke don’t fix it

[@pwnwin]

@@kugelblitz-8614 until you have to, then panic.

[@LinkEX]

I don't think "If it ain't broke, don't fix it" applies here. This is more like walking in dark room hoping you don't walk against a wall.

[@matthewsalmon2013]

​@@kugelblitz-8614 that's how we have crappy code on a prototype we're using as a production tool. Now that it's finally getting some user testing, we're discovering lots of bugs, but it's a nightmare to troubleshoot.

[@oggyreidmore]

Graham: "Why don't you have a credit card?" Michael: "Because I got enough money to buy a tesla for cash."

[@canna-sins]

wich is the best thing cause that makes the car LESS EXPENSIVE!!!!!!

[@kalebjacobs111]

debit bruh

[@oggyreidmore]

@@kalebjacobs111 🤣🤣🤣

[@kavukkii]

In the video Micheal says he doesn't have credit because he hates having to owe anyone money.

[@eversick7892]

Exactly 😎 Who needs a credit Card when you can do that Definitely good advice If you can afford to live with out them, do it ! Most of us common folk need them though I owe like 6,000 $ on mine 😢

[@Urmashouldvswallowed]

Bro gets takeaway every day😂

[@jojombo3459]

Money, like emotions, is something you must control to keep your life on the right track.” -Natasha Munson.

[@jacob8949]

"You're not in debt? That's a problem."

[@kshitizyadav3174]

Good debt is a huge advantage , read some books instead of seeing "debt" as bad

[@SebMakeup]

In other countries other than USA there isn’t a credit score and debt is seen as bad

[@verngibbs9375]

​@kshitizyadav3174 I was just about to say the same thing, ppl just don't understand on how to use it to their advantage. It's basically your using the banks to your full advantage.. thats how the rich stay rich and able to purchase anything without cash up-front

[@flextape7323]

​@@verngibbs9375nope thats just America. other countries don't force you to work on credit score, nor are other countries brainwashed in believing its a good thing.

[@jacob8949]

@kshitizyadav3174 Yes obviously when leveraged on an individual level, credit can be useful. But that's only because of how the economy is currently set up to work and when you scale it up to a national/global scale, systems of debt create huge problems. The 2008 sub-prime mortgage crisis is the clearest example (and something I remember very acutely). But you also have: 'debt trapping' policies under the auspices of foreign aid written about by economists like Éric Toussaint; structural adjustment loans of the IMF and World Bank; vulture funds like Elliott Management exploiting secondary sovereign bond markets for massive profit, with the effect of pushing the debtor country into a financial crisis (see Argentina or Sri Lanka). Suffice to say all that is only scratching the surface. So yes, it's wise to maintain good credit. But that debt you're taking on feeds into national and global financial systems which ultimately make the economy in general much more chaotic. Not much to be done about it barring some massive international shift in class power, but just something to be aware of as it should affect your decisions regarding mortgages, pension schemes, stock portfolios etc.

[@BCH-hy4gp]

“ why don’t you finance your car?” Because he doesn’t need to…

[@frostblizzard3458]

Yeah but the point is that if you finance a car, you can use the leftover money to invest into stocks, bonds etc. and make more money while paying off your car

[@Sparkflier]

@@frostblizzard3458or pay it off in whole and do the exact same thing

[@Samevistan]

@@frostblizzard3458you spend more money overall financing a car over paying for it outright. That’s broke man mentality to “invest” in something while “financing” something they clearly can’t afford.

[@smithj]

If you have good credit you can finance your car at a low rate and the money you didn’t spend to buy the car can be used to invest and outperform the interest you have to pay.

[@marcuspiercr6392]

​@@frostblizzard3458or he could just spend less money because interest is going to make it cost more buy the car and invest in his own time😂 there's more than one way to do something and if you have the option don't go in debt flat out. This should be common sense

[@jason_a7420]

"dont-don-dont talk to me about it graham" they're gonna have another boxing match right there 😂

[@dsk512]

Not preparing for the future financial hardship in life is just like going into the ocean without any life jacket on your boat. You never know the when the storm will hit you in your life

[@leonfa259]

True but that advice is what brings the storm. He is a dept advisors dream. He currently has no liability, a bank account that goes up every month and therefore also a well filled emergency fund. He is better prepared for any storm than 90% of the people. Investing might be a good idea, but only if it's invested well. Most investments sold are bad. Knowing your expenses is a good idea but as long as he continues living frugally for a person with his income it doesn't really matter.

[@agojiedoramilaje27]

This is exactly the person that shouldn't get a credit card.

[@dumpsterfire9797]

Bro he's literally talking to a financial educator 💀

[@BananAs375]

He’s the type of guy that tries to pay off credit card bills with credit cards

[@TheWheatless]

Rich people benefit the most from credit card rewards programs. It’s literally free money.

[@MakingBillsMS]

Tell me you’re poor without telling me

[@agojiedoramilaje27]

@@MakingBillsMS am I supposed to be insulted by this comment? Yes the credit card system was created to exploit the poor while the rich can afford to pile up on credit cards while mismanaging them at the same time with no consequences. Are poor people the horrible ones or the rich who created this system to get people stuck in perpetual debt and poverty. Find a moral compass because you seem to have no clue

[@xMontorix]

Grahm about to start this mans villian arc with that credit card.

[@blank54620]

unfunny

[@helpineedaname4820]

If that starts run for your life.

[@Karuiko]

It hasn't started already?

[@M224.7]

If people used credit the way it should be used. They’d actually understand Grahams reactions.

[@dragonboi173]

Some days the only thing i eat is the free food i get at work

[@fishaholic6791]

lmao he looked so nervous he was getting judged at the end but if u don’t gotta worry about rent than ur doing just fine kid

[@TheLoneMitten]

Look at his t shirt

[@TheDlockett1]

@@TheLoneMitten 😂😂

[@jameseota]

I agree. Especially these days

[@thatoneultramarine208]

This comment made me remember that he’s closer my age. I’m starting to feel old lmao

[@bato-wm5gl]

Anyone who is stable and has knowledge over this conversation can tell he lied. Chase would never hand out credit cards to people with no credit score. His gestures are also a big sign.

[@colbylanctot9804]

He also judged Michael for selling his Chinese stocks when he was worried about their real estate market. Turns out it was the right move at the time.

[@tomlxyz]

Graham earns more money talking about money than by investing

[@ATXpert]

@@tomlxyz to be honest this applies to so many celebrities

[@ongseungwu4311]

Huh? He only asked? And was shocked about it. Where did you get that?

[@321findus]

That doesn't change the fact that Micheal is at least somewhat financially illiterate. There are lots of people that make a few good trades on the stock market but end up in debt because they don't know how to handle their money in real life.

[@methanesulfonic]

@@tomlxyz just like guys who do "get rich quick" seminar

[@andyalshabi5189]

The disappointment in Grahms face is priceless

[@nellax8314]

Chase is like good credit 😂

[@dumpnutz756]

"Why didnt you finance it?" I can think of a handful of reasons not to do that

[@FernandoA30]

Like what ? Idk ab that stuff

[@Nanamowa]

​@@FernandoA30You have to pay interest on a loan, that's how the bank makes money.

[@mateuszkrytyk5711]

​@@FernandoA30 you pay for it in small portions but it costs more over time if we talk about leasing you sometimes even have a mileage limit Like... Why would you cuck yourself

[@raiden12321]

@@FernandoA30 if you pay it off completely you own it, if you finance it you don't, the bank owns it until you paid it off. You buy it and don't have to think about that money in the future anymore. If you finance you have to keep track of past, current and future payments all together, and any bad circumstances that may arise can have a serious impact of your ability to pay back debt. You are more independent if you don't have open debts, since you don't have to worry about paying anyone something back. Banks want to make profit, a lot, so would they offer something that is good for you without being extremely profitable for them? They make money from giving credits, of course they want everyone to get a credit card. The more people that use it the more likely it is that someone will be unable to pay it back resulting in them being able to get even more lucrative compensation instead if money like a house.

[@ndgtv1923]

​@Peter Schaible Financing is usually the better option for most people for many reasons. Your depleting your savings rather than investing that money elsewhere or putting in it into a high yield savings account. If you don't already have a substantial emergency fund in place, paying cash for a large purchase could leave you in a tough spot if an unexpected expense arises. Also those monthly car payments would help him build good credit. According to him he has no credit, so financing really would have been a better option for him.

[@oustandingsitter6106]

He politely said he makes enough to not care

[@The_Digital_Haunt]

Remember kids if you can buy anything with cash don’t get into debt

[@rey1242]

"That's a problem" Source: "The voices in my head"

[@OptimistSen]

The voices are so loud :P

[@BruhDot]

They’re called “thoughts” apparently. Am i the only one who didn’t know this ?

[@applebreeze1584]

​@@BruhDotfr bruh i was like ☻️☻️

[@hanenkamm1979]

I’ve always thought credit was evil because I didn’t understand it. Now I know it’s evil because I do understand it.

[@necromancer6405]

Evil? It's a system designed to punish those that don't pay. If you are poor and you need to use it you'll be punished yes, but it's better than not having access to it.

[@hanenkamm1979]

@@necromancer6405 funny, how organized criminals who engage in loansharking or charging a “Vigorish(juice)“ is illegal and frowned upon… But our government can use the same method to launder our federal income tax, which is also evil, unless you live in a communist country… I should never be made to do anything in a free country by threat of violence. The IRS is no better than the local gangster that charges you a protection fee… Protection from them.

[@withwingsaseagleeyes]

That's true for individuals but for a big corporation being a debt is the number one thing I hear.

[@ArctekApex]

Theres nothing evil about it. If you lose on credit it's because you made bad choices and spent the money in a way you know you could never repay. If you just budget your money like a fckng adult and pay 30% of your payments you will have an icreasing credit score and no problem ever. Stop blaming peoples own mistakes on the bank. If you lent someone money and tehy said "Yea I gotchu I'll pay you the 5k in full next month!" and then they gave you 35 dollars you would def not be willing to give it to them again.

[@danielreynolds178]

​@ArctekApex completely wrong and I have an 813 score so we're clear with no debt and. Yes it's evil and it extorts people to over extend.

[@dachjohnson9021]

When the financial adviser wants you to be in debt

[@JadwinManuel]

Lol this is me too. I’m a great engineer but things like insurance and credit are too complicated for me 😂

[@justaweeb14688]

As someone who isn’t American, all this credit talk is crazy to me. We just use debit cards

[@yomamacrib3297]

You need good credit to buy anything expensive or start a business in a reasonable way and the best way to build credit is by having a credit card.

[@severedproxy]

​@@yomamacrib3297 that's a wild system you have there, here we just do with debit or cash. we don't have credit scores here. curious if the credit score in the US a government thing or if it's an organization thing. seriously curious, hope I don't sound disrespectful, english is not my first language.

[@WesHale]

​@@severedproxycredit scores are not a government entity in the US and not simply an American concept... We just managed to make credit more important than income as a way to subsidize your life.

[@severedproxy]

@@WesHale thank you for the explanation. I kinda understand the concept now. have a great day

[@bobmcalister]

Who is this guy?

[@anikapt8728]

Dude doesn't cook Doesn't know his rent Doesn't have a credit card He isn't real

[@dsubversion]

He don't need a credit card because he tryna stay debt free

[@Andregeorgetownkia]

He sounds like he’s doing good to me! He has no debt. And clearly makes or saves a lot of money

[@whyamievenhere1334]

But credit helps with alot

[@crazywolf9715]

​@@whyamievenhere1334what is a lot?

[@dominickperson5851]

@@crazywolf9715 god is a lot

[@PascualMorales-py6gd]

saves a lot of money? how is he supposed to know how much he saves when he isnt even sure how much many he spends a month? he doesnt even know how much he pays for rent

[@crazywolf9715]

@@PascualMorales-py6gd you don't need a credit card to keep track of money and savings

[@Em3lii]

Honestly he’s living his life without a worry about money, and that’s something we all should strive for.

[@drained1177]

I mean, sure, if you earn as much as him at like 20-30k a month

[@otterpoppin]

It's an incredibly unrealistic goal for most people, just saying. That's how capitalism works. Like, it sucks, but that's the goal of the system: to keep those currently wealthy on top and growing.

[@toshoshi1551]

It’s foolish. You should always have a worry. This dude still has the mind of a little kid.

[@leivajoe80]

​@@toshoshi1551exactly...

[@newlandsdw750]

of course it sounds amazing and peaceful but personally i would rather be aware of how finances work and where my money goes. don't wanna end up getting extra taxes/fees from bad intentioned companies/people/GOVERNMENT

[@Jin-pm9oi]

Never blindly get a credit card. if you are not responsible, you will get massive debt due to missed payments ruining the credit you are trying to build

[@JPRScourge]

My biggest spend, other than obviously rent, is always medications coming out to around $200-300 a month. And that is just the first of three medications. Total I'm spending it about $3600-4000 a year on medications alone.

[@DylanChris]

Getting a credit card is the worst advice when you don’t need one

[@gingerweasel2]

Eh, there can be good cash back and reward programs. Depends what you qualify for. In this case he's got zero credit though and can already buy whatever he wants, so probably not worth the bother to build up the credit just to eventually get a little cash back on some stuff here and there, lol.

[@psychospartan3007]

You commenting is the worst advice I ever heard a credit card is important for a house or a car. The better your credit the better your life just don’t be stupid and forget to pay it every month.

[@bigcat99100]

​@@psychospartan3007not when you have the money to buy a tesla outright lmfao

[@gigalad4191]

You cant feel the money loss when you buy stuff with a credit card. Give me debit or something so that I’ll remember to be responsible.

[@bananaman4613]

@@psychospartan3007 your not very smart. If you have the money to just buy everything straight out credit doesnt mean anything to you, if he couldnt buy straight out it would be helpful

[@ARCAD3BLOOD]

Bruh is living his life, don't make problems where there ain't one.

[@mrtheluckybucket]

In America Credit follows you to your grave lmao, it’s a good idea to at least have ONE line of credit open like a credit card. Don’t even have to use it.

[@ARCAD3BLOOD]

@@mrtheluckybucket Oh noo, I will not have enough credit to *BORROW money.* _What a nightmare._ It seems like your credit is already following you to your grave. Just in a different meaning of these words ^.^

[@mrtheluckybucket]

@@ARCAD3BLOOD Not to mention to rent they look at your credit as well lmfao

[@ARCAD3BLOOD]

​@@mrtheluckybucket Ah, yes the "Borrow money so you can borrow more stuff" argument. lmfao very well thought on your side.

[@mrtheluckybucket]

@@ARCAD3BLOOD Ah, the “ignore the fact that anything you want to rent and anything big you want to buy will be looking at your credit score and that effects whether or not you can rent” non-argument. You’re clearly living with your parents and will be for a long ass time lmao

[@Advice.Co.47]

The biggest flex I can see in this video is that he doesn’t know whatever it is. He has so much money that he doesn’t even know.

[@csgoat968]

“No food isn’t the biggest expense for most people” is the most rich disconnected statement I’ve ever heard, the common phrase for struggling financially is “struggling to put food on the table”

[@bhe8336]

Hes correct. Rent or Housing is the largest expense.

[@roksanaparvin1821]

Completely depends of you can cook or not

[@BoopSnootAndTroubleshoot]

"why didn't you finance it?" Is the most American thing ever said.

[@eswift8318]

He's looking at the kid like the kid doesn't know how to handle money well. Like it's smart to pay interest on something you can afford to buy outright. That being said, the kid should learn basic finance stuff. It's not hard to lose a fortune.

[@captainprometheus3102]

What does finance it means? Loans?

[@eswift8318]

@@captainprometheus3102 Yes. Car dealers often make more money by setting customers up with car loans than they do on the cars. If you tell them you are paying cash, you will literally see them lose interest in talking to you, and if you haven't already gotten the price of the car, they will add a lot to it.

[@tr0picknowledge]

@@captainprometheus3102yes

[@luis-sq8cp]

@@eswift8318its because buying a car outright its stupid. its not an asset. its a liability that loses value with time

[@user-mf8su7ny3s]

“You seem to be living perfectly fine without a credit card let’s just get you one for absolutely no reason”

[@ComfyHD]

It’s to build credit 😂😂😂 Tell me you know nothing about credit without telling me you know nothing about credit 💀

[@dunderyey5042]

@@ComfyHD tell me you dont know how EU works without telling me. You dont need a Credit card to build Credit score. You get that by doing nothing just by having a stable economy and no debt.

[@roronoadzoro9429]

​@@dunderyey5042i know right here in Belgium most people dont own a credit card but do own a house you dont need to build up credit here to get a lone all you need is a stable job and some money you can put in a downpayment you will be able to loan based on how much you make a month and how big you can make the downpayment

[@DaDeviousDemon]

@@ComfyHD blud is real quiet now

[@c.s.s.5326]

Better to have and not need…

[@hexagonal69]

Get an Apple Card Michael, that’s the good stuff.

[@Spector209]

Food is definitely one of the biggest problems for most homes

[@lushen952]

I've never seen someone play the modest genius card while saying the most incompetent things.

[@shahtayyib]

Especially when sat across an actual modest genius it would seem

[@XyaireFord]

lmaooo it's cause he wasn't playing a character Michael is just a goober 😂

[@shahtayyib]

@@XyaireFord I don't think OP is talking about Michael

[@Nameandaddresswithheld]

That’s kinda what being a high functioning autist is like. “Yes I can solve complex equations and invent new technologies, but if you asked me to balance a checkbook my head would explode”

[@Charming_Cthulhu]

​@@AllNightGamerYT says someone that I can bet has never done programming or engineering in their life

[@karlsrevenge9657]

“We’re gonna sign you up for a credit card” -someone with bad advice

[@scott8934]

Why is building credit a bad idea?

[@muskelpaulkleber7413]

@@scott8934 Millionairs "building credit". LOL! Poor people's understanding of the world.

[@karlsrevenge9657]

@@scott8934if he’s able to buy a Tesla out right, which is like $50k on the cheap end, he doesn’t need a credit card.

[@clayc5929]

I think you know enough to think you’re right but not enough to know you’re wrong 😂

[@karlsrevenge9657]

@@clayc5929 credit cards are a literal trap, same with the credit system in general but by all means explain how I’m wrong