The Best Financial Insights I've Ever Received

[@UncommonCommander]

"Wait a week" has been the single best piece of money saving advice I've ever received, too. I received it from YOU three years ago, and it's changed my entire financial situation. I'm not sure I owe you my entire house, but probably part of it.

[@NextLevelLife]

That's awesome! I'm glad to hear that it has been so helpful over the past three years :)

[@favjr]

If you are looking to jumpstart your way to financial independence and want a quick budgeting metric, apply the Rule of Half. The Rule of Half means that you look at your peers at work and try to only spend about half of what they spend on average on clothes, cars, food, etc. Maybe you spend as much on somethings and cut ruthlessly on others. This can also be applied to raises -- commit to saving half of all raises. Save/Invest first and spend the rest is also a tried and true method.

[@NextLevelLife]

I hadn't heard of the Rule of Half before, but it seems like a solid goal to shoot for. It may be easier to achieve in some areas of the budget than others, but even if you don't quite get to the "half" point, the very fact that it'll force you to look critically at your budget and think creatively of ways to be more financially efficient could be highly beneficial over the long term. Paying yourself first and saving half of your raises are also great pieces of advice! Thanks for sharing :)

[@danielaltherr1229]

My Dad taught me "wait 3 days" on bigger or impulse purchases and "pay yourself first automatically with an electronic transfer every month". It was great advice that has served me well. Great video Daniel! I'm looking forward to this series.

[@NextLevelLife]

Both are excellent pieces of advice! I'm glad you enjoyed the video :)

[@warlockman-ri2jr]

This is great advice with practicality. It's all about perspective and if you focus on what really matters. I did it and so can others. Great points as always

[@NextLevelLife]

Well said! I'm glad you enjoyed the video :)

[@brucestiles6477]

A portion of the best advice I've seen: Pay Yourself First Live Frugally Save Regularly Invest Wisely Avoid Debt

[@wealthwyzr]

Awesome 🙌🏻

[@NextLevelLife]

Thank you!

[@kage-fm]

a lot of these seem to revolve around the theme: find out how to make “making the the right decision” psychologically and practically lower-effort.

[@NextLevelLife]

Making the right decision psychologically and practically lower-effort is certainly a worthy goal to strive for with your finances (and life, really)!

[@jeremyhershberger3012]

Great advice. These tried and true methods are the cornerstone of financial success. An additional piece of advice that has made a difference for me is to make doing the right thing a fun game. I find it easy to do and get good at what is fun.

[@NextLevelLife]

That's an excellent insight! Thanks for sharing, Jeremy :)

[@moistypup]

Nice

[@NextLevelLife]

Thanks!

[@acrobizer1238]

So to ward off FOMO, I’ve developed JOMO…Joy Of Missing Out.

[@NextLevelLife]

That would certainly be one way to go about it ;)

[@markfuria420]

Excellent video. These are all VERY useful points that everyone can benefit from, whether the dollar amounts are large or small. When I was younger I heard somewhere that Thomas Jefferson used to write down all his expenses, so I decided to do the same. This got me into the mindset of thinking about each individual transaction for it's own merits. This incorporates all three of the points made in the video. Do I need to buy an item or are there more inexpensive alternatives? What happens if I don't buy that item at all? What am I giving up later to buy that item now? Everyone needs to find what works for them, but doing this has ingrained the process so it is much easier to easily spot when I am just indulging and not gaining a benefit.

[@NextLevelLife]

That's an awesome way to go about your spending decisions! Thanks for sharing :)

[@OptimisticHominid]

Get your spouse/partner onboard with the financial/life plan.

[@NextLevelLife]

Being on the same page with your partner financially is definitely important. If you aren't working on a plan and building toward goals that you are both on board with it can be much easier for one/both parties to shoot themselves in the foot, so to speak. Thanks for sharing!