My 6 Rules For Frugal Living | Financial Minimalism

[@DreadfulUtopia]

One of the most challenging things is going from a consumerist mindset to a minimalist mindset. At first you find yourself wanting stuff all the time but the longer you go without buying random things and making impulse purchases, the more natural it feels to just make use of what you already have. Not upgrading your phone every year because it's good enough, for example.

[@Suhrvivor]

Why would it be challenging if you know you'll be happier if you don't mindlessly consume everything that's put in front of you?

[@LeftLeftRightRight16]

@@Suhrvivor Because it's deeply ingrained in the vast majority of the population. They don't have a consumerist mindset by simple choice, it's all they know. That's why it can be challenging. Compare it with any other addiction, a person who has drank alcohol all their life rationally knows they will be healthier if they just stopped drinking. That doesn't mean it is not challenging for them to actually stop.

[@JakeSpradlin2]

Frugal living is so important! A little bit of savings today can lead to a huge tomorrow

[@matirijo]

Making a budget is really the key to everything! You just need to know how much you get, and how much you spend. After that you can adjust in every aspect of your life!

[@dominicnoble3669]

Nicholas, I’ve so proud of your progression. Lesson I’ve learned from you is staying humble by having nothing vs having everything with controlling the attitude. Thank you! Keep soaring. Respectfully, Dominic Noble

[@NicholasGarofola]

Thank you Dominic! I appreciate the kind words.

[@isaaccarter5586]

Saving first before investing is important. I’m on the exact same boat trying to figure out investing but until I do I’ll continue to save

[@aishahwilliamsmobley]

Hi Isaac, if you haven’t already, try thinking and looking outside of the box in terms of what you can invest in.

[@kd2533]

Quitting coffee - thanks to gastritis - is saving me a lot. Also, herbal substitutes keeps me home based more (no cafes sell it), so no temptations of spending.

[@TheTigerlily86]

I can relate to this

[@JamesBrown-nu2kt]

Short, but sweet.... excellent. You & Buon are my main "must watch", thoroughly enjoy your presentations

[@1hinita]

Great video! I dont know alot about onvesting yet either but you can bet i save aggressively lmbo. I enjoy being a minimalist. It keeps my stress lvl down.

[@shinrasboy]

This is excellent timing. Literally making my budget right now.

[@juliemarkham4332]

A couple of years ago I created an emergency fund by taking the $$ I got with a raise and automating it to savings at a secondary bank, not my credit union without a debit or ATM card. Each year since, I increase the amount of savings by the amount of $$ with a new raise. This has kept me from having to charge a car repair and also some electrical work done on my home. Now, I need to figure out how to pay back what I did have to use.

[@TheJojo01902]

I am *so* glad I found your channel - inspiring, centered, honest, and actionable content. Thank you.

[@ktepasa123]

One of the things I like about you is that you do not push or urge people to act in this way or another but empathize and speak from your experiences. You clarify that this is an ongoing process, not something you gain immediately.❤

[@loveofyahweh9660]

Thank you! Really enjoy your point of view!

[@NicholasGarofola]

Thanks!

[@PeggyHughes-y3k]

Glad I saw your video. I like what you said about saving and building up an emergency fund. I also appreciate your ideas about simple free activities. Look forward to hearing more about your lifestyle, thanks!

[@mekomeko6696]

All the best to ur savings journey ❤

[@leandro_80]

Excelent video. From all aspects, the visual, the technique but also the tips themselves

[@NicholasGarofola]

Much appreciated!

[@saihuynh4242]

Thank you for all of your videos. They are very inspiring! You put a lot of effort and research into your videos. Not just this one but in your 10+ videos that I have watched in the past 2 days :).

[@Chaitogether]

Love the simplicity and nature 😍

[@FrugalFinley]

The fact that you have only 77K subscribers is criminal. Keep spreading the message brother!

[@NicholasGarofola]

Appreciate that!

[@yohanhail1583]

ure ryt about savings more than investing 👍👍👍

[@Veronmories]

People often fall into serious financial trouble due to the harmless act of overspending to indulge. I think that having high saving rates is crucial, more so than investment. Grandma always says, ‘Save for rainy days.’😊

[@NicholasGarofola]

Love that!

[@hfghghhfghfghfgh124]

You should only save to invest. You have no idea how much the average saver is duped, you lose 2% (at least) of the money, whereas investing in a basic index yields 10% interest. And this interest compounds, meaning if you invest 5000 dollars, in 7 years you'll have 10 000. In 35 years it'll be 140 000 dollars. You keep that 5k in savings for 35 years? It'll buy you 1 apple mobile phone. Investing is the frugal decision.

[@hajnihercz]

Very insightful video Nicholas, thanks for uploading as always! I'm in the very lucky situation of starting a new job that comes with a salary raise as well. I've been keeping a budget since 2019 and I'm already setting my boundaries up to keep me from that inevitable lifestyle creep... It is a good problem to have, but nonetheless, awareness is very important. This was a great reminder for me not to start booking more flights mindlessly just because I will be able to, but to make sure I increase my emergency budget and my investment funds too.

[@NicholasGarofola]

Thanks as always Hajni!

[@georgeandrews2839]

If you can't donate, another way to show your support is to watch the video from the beginning to the end and let the ads run. Of course subscribing, "Like" and posting a comment helps too.

[@kashettyavp]

Thanks brother for this video.

[@wilfriedlcx3448]

Nice video like always and I enjoy that you say to subscribe at the end of it if you like the content and not at the beginning. You’re almost the only one to do so

[@cornbuff]

Thank you again for another enjoyable video! My wife and I just started some serious personal finance for the first time. We decided to use an app called Every Dollar. It’s been going well so far! Can’t wait to see the next video!

[@NicholasGarofola]

That is awesome! I gotta check out that app.

[@PJ-we7cy]

Great stuff, Nick! Thanks for your vids and good luck on your journey to becoming financially independent! 👍🙏😉💰

[@AnnieGill7]

Thanks for sharing Nicholas! Great video.

[@NicholasGarofola]

Glad you enjoyed it!

[@TheAfterWorkChannel]

Great reminder to keep things simple!

[@NicholasGarofola]

Exactly! Waiting for your next vid 😄

[@phoenixjordan7784]

The books and the movie are magic ✨ 🙌🏼😁♾🤓

[@JadenHercules]

Interesting, I'd say I am financial minimal whilst still able to spend on things I enjoy - movies from time to time, eating out, and video games or cool* gadgets. My biggest issue is materialistic minimalism, as I have a lot of things (minus things that matter like a house, a business, or a vehicle, lol).

[@indiraghai7972]

Watch ur savings grow..is motivating

[@CianPacifico]

Hi Nicholas, Have been watching your videos for a while... nice & consistent vibe... loving it 😊

[@NicholasGarofola]

Glad you like them!

[@ssunflowing]

I think i live a simple life until i really pay attention on what i think is my life standard and i find i spend the most on skincare (i barely use more than half of them) and food delivery. I do track my spending and i always think it is under control/normal. I never made decision to save more on both for the sake of saving money, but even in skincare, simple is best, and homemade food provide the best nutrition (also delivery got unrealistic price these days). I think finding one reason after another on why you need to fix your spending and keep improving your financial habit is important.

[@NicholasGarofola]

Agreed! Very well said.

[@anaalves3658]

😂😂😂 I loved the comment about the Harry Potter books and movies. My 8 year old daughter is a HUGE FAN!!!!We have just started reading book #6, she only got into the books in July last year, so she is doing well, she reads a book and then watches the movie with her dad, she just commented a few days ago how they missed out on so many things in the movie 🎥. I think that the books are great, but I am not a fan of the movies.

[@NicholasGarofola]

That's awesome, six is my favorite book! The movies are great though 😅

[@alecb.7696]

Great advice early on, but embracing the simple life is nothing less than a philosophy of life!

[@neilschipper3741]

You're doing such a great job with your videos, always informative. Thanks so much for sharing.

[@NicholasGarofola]

Appreciate that!

[@sachinchandrus]

Very insightful and simple! Thanks!

[@NicholasGarofola]

Glad you enjoyed it!

[@LuckyBeechdub969]

Hello! New Subscriber here, this was excellent! And...the BOOK is ALWAYS better than the movie!! 🤩

[@MotoM0nk]

Part of my savings - an emergency fund enough for 2 years of living in a low cost country in South Asia or CIS - is in a flexible 25% UZS (Uzbek soum) bank deposit which i can withdraw leaving an equivalent of $2k min untouched. 1/5th of the interest alone is enough to cover living expenses. I capitalise the rest of the interest to compound it. I do not hold any physical cash because it loses value to inflation. Inflation in Uzbekistan is 10-11%, so that leaves me with 14-15% net interest (or about 17-18% effective/compounded rate).

[@AmberV1978]

Love the things you say, thank you!

[@pauljakeman]

Awesome video again buddy, great advice again. And like you said I’ve heard about investing but wouldn’t know where to start. Great to see a video about being better with money that’s not going on about investing and crypto. Also the shot with you coming off the skateboard onto the bench must have took some practice. Or was it one shot at it and see how you did? 🎉 Also, great to see Paul holding onto your cash for you haha!

[@NicholasGarofola]

I think that shot was first or second try if I remember correctly, I do usually fall a lot though. Thanks mate! 😄

[@pauljakeman]

@@NicholasGarofola was a great timed shot man! Haha no worries at all mate! 👍🏻👌🏻

[@x9872]

紀錄支出真的是很重要，我開始紀錄後才知道有那些開銷是不必要的，就能省下很多錢～～😄

[@jaymarloudiscipulo8079]

Oh, I needed this one.

[@vivuvlogs2809]

Hi nich it's me again I wanted to ask... As a 13 year old boy going to school... What a small minimalist habits that i should do apart from decluttering and spacing things out?

[@patti2870]

Move your body, doing sport keeps you healthier and improves your life quality :)

[@NicholasGarofola]

Agreed ☝🏻

[@vivuvlogs2809]

@@patti2870 thanks man

[@VKnoxXP]

awesome video! quick question: i'm currently working on reorganizing my digital clutter; what would be the best way to store my photos and digitized important documents? ssds, hard drives, or thumb drives?

[@CMF_1]

I think he did 1-2 videos on this . I’d check his library… weekend binge watch! Lol

[@MRSancutzik]

👏👏👏 Great video! Minimalism + fun = perfect way to spend my time

[@NicholasGarofola]

Totally agree!

[@SteelKnightPlays]

Awesome tips dude!

[@amymaude5798]

LOL Yes, the books were better. Going back and watching some older content, as well. Hope all is well in your world.

[@NicholasGarofola]

Thanks Amy!

[@marinagamby]

The Harry Potter movies/books reference was 👌🏼👌🏼😂

[@NicholasGarofola]

Everyone has that friend 😄

[@georgiamarketco]

Great video!!!

[@NicholasGarofola]

Thank you!

[@indiraghai7972]

Do frugal spending

[@TheAlchemist1089]

Here's a minimalist approach to investing - The three fund portfolio - 1. Total US stock market fund 2. International stock fund 3. Total bond fund That's all

[@NicholasGarofola]

Taking notes!

[@TheAlchemist1089]

@@NicholasGarofola it's called the boglehead portfolio (named after Jack bogle) Set and forget

[@bruceharpo8796]

Are marketing strategies used to trigger compulsive spending? Can you avoid them if they are? Regards

[@maryeen8]

Thanks

[@AlexMacevicius]

budgeting is huge no matter your income level. i know people who make 7 figures who know exactly where every dollar goes.

[@pinayinuk]

Thank you

[@jacquelinemcgowan8164]

What help change me was, was buying things i couldn,t afford, to drag it all home, to then take it to the charity shop, when i had debt, Repeat. I mean who was the moron, so eventually i woke up, with the word Enough, i have enough and enough us enough.

[@AldoFelt]

Wonder if your rented or you have a mortgage. How you feel about one vs. the other.

[@scavenger1362]

I’ve always used a 3rd party expense tracker. It’s just hard to keep track of every expense. I think people should budget their money regardless of how much they make. I’m trying to cut coffee out completely since it is a dehydrator. I don’t like having too many stream services. I cancel them out during college semesters, then go back when it’s done. I put the same about money every month and set it in emergency fund; however i do add that towards my tracker. I always thought that we don’t have to spend money to enjoy life. Be happy for the stuff that we have. The Harry Potter books are better. Im reading Angels and Demons along side Dr. Stone and Demon Slayer mangas 👍

[@NicholasGarofola]

Good idea canceling during college semesters 😄. Also read Parasyte: The Maxim manga ✌️

[@scavenger1362]

@@NicholasGarofola Parasyte manga is on my list. I did see the anime though 👍

[@indiraghai7972]

Simple living

[@veganpajamas4211]

hm. plain ramen no packet, that works?

[@JstAustinn]

🔥🔥🔥

[@peoplevsradio317]

Here are things I think may eventually work.... odd.

[@Malligue]

do you think having a car is unnecessary?

[@Vloggerista]

It is quite annoying to be with someone who calculates a lot, living reasonably is ok but living life without thinking too much is more fun,

[@alannolan9154]

What was the name of the app?

[@caj5888]

Did I miss something? Where has his desktop PC gone?

[@NicholasGarofola]

Sold it

[@caj5888]

@@NicholasGarofola do you still play PC games?

[@rogersimmons8788]

I live frugally by priotising what I spend money on. So far, I haven't wasted any money on completely pointless tattoos!

[@fabiangomez25]

Books are absolutely better 🧙‍♂️

[@mayhow5034]

Yo, who uses top left burner💀💀💀

[@NicholasGarofola]

😂

[@MsGechi77]

😀

[@tonyahenry4167]

The books were much better 😂😂

[@indiraghai7972]

Track ur finances..make a budget to know where ur money goes

[@Yesser.a6664]

Invest in S&P 500 fund and bitcoin. That’s all you need 👍

[@dmhq-administration]

Financial minimalism? Eat ramen with egg and rooster sauce everyday. 🤔😁👍🏻💖

[@monicasmadhouse9278]

Ramen causes health problems

[@indiraghai7972]

Or else u land in debt

[@colectivonmc4909]

A "minimalist" with TATTOOS ?? Are you kidding me? How much did you spend on that?

[@queentinadoire6931]

Maybe he had the tattoos before becoming a minimalist. Cultivate an open mind.🤷🏾

[@sheldon6786]

I feel like the way this person presents his content is so bland even when he said i more happy their was not emotion. Is this a minimalist thing ? Minimal on facial expressions. Could just be act to convey his message

[@sachinchandrus]

Very insightful and simple! Thanks!