The Best MONEY SAVING Advice I Can Give

[@wheezywaiter]

Try Rocket Money for free: RocketMoney.com/wheezywaiter #rocketmoney #personalfinance

[@KAIZORIANEMPIRE]

middle rung youtuber with 1 mill subs lol, then iam a non existence youtuber with 2 k

[@wheezywaiter]

Warning: whenever I do a video about money a LOT of manipulative comments creep to the top. They seem like people legitimately talking about a money issue, but then have abnormally large amounts of likes and replies and then one reply will advertise some financial advisor. Beware.

[@threegenders201]

Yeah I hate those 'financial advisor' bots Or do I?

[@scottcampbell96]

This happens on every financial channel. It bothers me that some otherwise respectable channels don’t take the bots’ comments down, even after months, in some cases. Thank you acknowledging them. I wish KZbin itself would crack down on these bots.

[@lindatodd4411]

You can Delete the Bot comments from your end.

[@travdripdrip382]

I can't stand those and then they get their buddies to reply and make it look legit for less aware folks. I try to comment that it's a scam when I see them. I encourage any of you to do the same. Hopefully enough people calling it out will save a unknowing soul some heartache

[@wheezywaiter]

@@lindatodd4411 I do! But I can't sit here all day doing it.

[@joshualepik]

Having a fancy car does say “look how much money I have” but saying “look how much money I don’t have anymore.” That was amazing.

[@wheezywaiter]

Getting a LOT of those “this guy looks like Vsauce” comments as well as “you’re still making videos!!!” This is good. It means I hit the algo.

[@SarahLynn-jv8rg]

Yes! This is the first video of yours that I’ve seen in 10 years! Missed you but I’m glad to see you’re still doing this!

[@colleenmarin8907]

Woo hoo! I hate when a beloved channel stops automatically showing up in my feed

[@AlixAnn]

Who else read this and thought "Vsauce is still making videos?" 😂

[@chuck9693]

Wheezer you are literally Michael wdym

[@RAMZIAARON]

yeah, I've never come across your videos, but I liked it...we are a lot alike, so I guess I'm doing something right.

[@TheSonnjaa]

I was on holiday with my dad in spain last year when he fell and broke a hip. Being able to just get a hotel near the hospital, and being able to miss my flight home and book a new flight without worrying about money was amazing. There was so much to stress over already, I'm very happy that i didn't need to worry about money as well.

[@Fanta....]

This is real wealth.

[@CogitoBcn]

In order to go to the hospital, in Spain, you don't need wealth, they have free health even for tourists.

[@rivenroyce9923]

@@CogitoBcnthe hotel and the flights

[@PunkRockGardener]

If you can afford to travel to Spain you’re already killing it, well done!!

[@yvonneoy3124]

Is it because he had traveler's insurance?

[@ThePuttercross]

The ability to postpone gratification is the most distinct trait to indicate the capability to build wealth.

[@SophiaAphrodite]

It is why 80% of those who are wealthy inherited it. They did not earn it so have no need to delay anything. There is no gratification in not living a comfortable life once your death is paid for.

[@alcantwell]

Maybe - I doubt it. A BIG FAT INHERITANCE is the fastest way to build wealth. Whether you can hang on to it is another story.

[@Procoffeiev]

Not a distinct trait. Money slips through my hands faster the less I have of it. As soon as I had a steady job that was more than 2x my rent, I became a budgeting and saving wizard. Funny how that works. And by the way, I didn't get the job by delaying gratification. I had lucky connections.

[@JimMoylan]

Your right that postpone gratification the most distinct trait to indicate the capability to build wealth.but what if I do not care about material things. I just don't spend much because i have no desire to spend money on materialistic things because I do not anything.

[@borisjoffe]

@@SophiaAphrodite Most people who are wealthy did NOT inherit it. Many people who inherit money end up broke

[@dyates6380]

The most succinct thing I heard when talking money, probably ever, was when I was talking with a friend, and it was so simple it slapped me across the face (figuratively), of course. It was "it's not what you make, it's what you spend". No truer words. We all know people who make a very large income, and struggle financially, as well as the reverse.

[@Denice340]

I believe that it’s not what you make it’s what you save or what you have left over. If I make 5k a month and spent all of it and another person make 3,500 a month and is able to save 500 a month then the person making 3,500 is better off and in a year that 500 is 6k.

[@Pandefly]

I’ve been watching a lot of different budgeting channels for about two years now, and the best advice I’ve seen is to budget for your fun spending. Telling yourself you have, say, $100 a month to spend on literally whatever you want really helps to be able to save. It’s like giving yourself an allowance like you’re a child again and we’re forced to save the little bit of money you got 😂

[@matthewhoover6154]

It's like eating healthy. It has to be healthy but not to the extent that it isn't tolerable, and everyone has a different level of discipline they can tolerate.

[@walsakaluk1584]

That just guarantees that you will squander at least $100/MTH. It doesn't save squat. Pissing away $100/MTH every month results in a well stocked abandoned storage unit. Stop buying shirts.

[@gpdoyon]

Great advice! The best thing I ever did for myself was plan my retirement ten years beforehand. I tried to picture every REALISTIC scenario of something bad happening (blown furnace, water heater, heat pump, outrageous oil prices) and created individual savings accounts. Each paycheck a small slice of money automatically went into each savings account. When I retired this year my house and car had been paid off already and all of my “oh sh*t!” savings accounts were fully funded. As a result, after bills are paid, I still have 60% of my pension income remaining. The incredible feeling of relief at not having to worry is amazing.

[@zojirushi1]

@@gpdoyonare you from Europe or USA? Also when did you retire? 60?

[@gpdoyon]

@ I am from the USA. I retired January 2924, age 60.

[@xmochix604]

My husband was on a strike for 2.5 months. He stayed home, worked on projects and cleaned the house. We spent as usual, paid bills and had little worries. We didn’t know if the strike was going to happen, we just been saving + investing out of natural habits for many many years.

[@aviralgupta393]

is this Vsauce's alter ego?

[@MikhailKoslowski]

Vsauce, Michael there!! I clicked thinking it was him 😂

[@Euan-q6i]

​@@MikhailKoslowski Wheezy, Craig here!

[@TheAnubhavSharma]

i clicked the video just to search this comment lol

[@osirousfrost85]

No, VSauce is WheezyWaiters alter ego

[@zinetx]

@@TheAnubhavSharma same lmao

[@Silverstar257]

I love the title! It’s genius! I may wanna tweak it a little bit, “Having money FEELS better than spending money” since people are spending money to FEEL better.

[@danr9183]

Everything you described is exactly how I approach my finances and I am amazingly blessed to be in the same situation as you (except I have more hair on my head and less on my chin). This means I didn’t learn much, but I greatly enjoyed feeling validated. I guess I learned that I enjoy feeling validated. Thanks for that.

[@secretscarlet8249]

I love these money videos because I hate discussing money but you make it palatable.

[@heidiho3089]

I feel that! Some FA’s scare the crap out of me.

[@SerenityForschen]

I hate that in the U.S. a medical catastrophe can pretty much kill all your savings and leave you with nothing. If we had access to universal health care, the nation would have a lot fewer destitute people. And we would be less likely to lose everything we worked for because we got sick or had an accident.

[@3nertia]

Welcome to capitalism!

[@tdgdbs1]

If you are not Medicare age; consider medical care in Mexico, due diligence implied.

[@samuelbonacorsi2048]

Not a bad approach, but this won’t save you a penny. Health care isn’t free so you will pay for it in taxes. If the government controls costs, you will get lower quality or less healthcare value. Admittedly, do we need to spend $500,000 on a 91 year old cancer patient? Answer now and then again when you are 91!

[@anthonypierson1593]

I guess this doesn’t apply to billionaires. Unless they get some new disease and spend all their money sponsoring research for it lmao

[@methos1999]

@@samuelbonacorsi2048 IMHO, the discussion shouldn't be around the solution, but what exactly the problem is. US pays the most for some of the worst health outcomes. I don't care what the solution is, but it needs to be fixed. I refuse to accept that we just can't do any better when literally every other developed country does better than us.

[@joaquinzannchez3184]

Freedom is wealth.

[@Prokomeni]

15 minutes of disclaimers because Craig is nice + people can't understand that they are not the only people in the world. Love you Craig :)

[@raiiny_day42]

I just realized i spend around 10k on alcohol every year. That’s wild. So I'm done. Today is my first day sober.

[@Nereosis16]

Good decision! I had a conversation with my father in law who was asking me how I avoid drinking 2+ beers a day and I told him I just don't buy it. My laziness after a day of work when I'm already home extremely outweighs my desire to have a drink. If it's in the fridge I'm gonna drink so just don't have it in the fridge.

[@shashankmlrj]

2 beers a day?? Thats just too much...i double think drinking one beer a week lol ​@@Nereosis16

[@Gr0nal]

Once you have enough wealth to not worry about yourself, you're able to be generous. Even if it's for selfish reasons. Being generous with money is one of the best virtues.

[@Fanta....]

being generous for selfish reasons is a win win situation, as long as you aren't trying to use money to be a degenerate...

[@3jasonwebb]

We sponsored 17 families this Christmas at our neighborhood center for Christmas-there were 57 children in all. Driving away I seriously felt like Scrooge after he woke up: Light as a feather, I am as happy as an angel, I am as merry as a schoolboy. I am as giddy as a drunken man. It was the happiest I have been in a long time. I heard someone say If you don't think money can make you happy, you just haven't given enough away yet.

[@Just_my_opinion_23]

“oh, look at how much money I no longer have” Absolutely love this!!

[@skulver]

I find lists of things I'd like to buy pretty useful. I have hundreds of books and ebooks I've never read, now I just add any new ones to a list and act as if I have them. Once they're on the list the rule is I can buy it the moment I'm ready to start reading. Same goes for hobby stuff, video games, tools, clothes and a whole bunch of other stuff. I have a fortune worth of items I can use at a moments notice. I just haven't bought them yet.

[@AF-oq5bu]

This is brilliant -- I am adopting the same approach from now on! I have so many books that I have not read yet, but kept getting more -- will get a list going :)

[@tracynorman4883]

Love this!!!

[@elijaprice]

I have 2 cousins, brothers, and the older brother, he was in one of those sleazy financial 'bro' jobs, he was making about $400k a year for a decade or so, bought cars, clothes, all that (probably spent an inordinate amount on 'talcum powder' too, you can picture him I'm sure). He lost his job after doing it for years - I think because of a tax thing - and he had........nothing. He hadn't saved any, I think his cars were leased, and so on. His brother, works a dead-end job and isn't the fizziest drink in the fridge, earns very little, but works hard, spends little - this isn't a parable, this is real - he's a good guy, and now, his older brother, kinda mooches off him. Not always, he doesn't live with him, but at any family event, the brother who is diligent and frugal pays for food and drink and hotel rooms and such for his spend-thrift brother. I don't really know where I'm going with this, it just pisses me off.

[@jfree2737]

It's the parable of the ant and the grasshopper.

[@M_SC]

It’s financial offensive skills Vs defensive

[@marianhunt8899]

Some good people don't mind helping others. That works as long as the good person isn't being abused. You gotta realise some people are easily brainwashed with materialism and have blind spots in their IQ. It's not always their fault if they ar born a bit dim and unwise. Many good people don't want to see their annoying siblings on the street poverty stricken and in despair so they 'carry' them to a certain extent.

[@Volkbrecht]

@@jfree2737 ... And when the winter came, the grasshopper hopped into his sports car and drove to Florida. And the ant got stepped on :) kzbin.info/www/bejne/pnukiqaBn6-ng5Y

[@ragebait988]

I’m sure the brother was very generous with everyone around him when he was earning 400k a year.

[@Alex-ir9nx]

There was a graph I saw onces of how much people earn vs how much they spend and mostly the more you have, the more you spend and the same amount you have left in the end. Its also how people that suddenly get a lot of money usually change their lifestyle, but then run out and try to keep the lifestyle going, ending badly

[@Fanta....]

I could think of nothing more horrifying than having more money than i know what to do with, living a lavish lifestyle temporarily, then have to go back to a 9 to 5 job and be poor again. no spankyou. Slow and steady wins the race.

[@baebeebiz9819]

Listening to this while I budget

[@xliquidflames]

I appreciate the video and trying to help. I used the $20 rule. I was able to do it even on a fixed income. But once I had $200 saved, I thought, "Hm. I could pay this other bill with that." And then it was gone again.

[@madcow5833]

Personally I use the -1000$ rule. I try to not to lose more than one thousand dollars per month, This way when I am able to turn things around I don't owe more than one a hundred thousand dollars. My point is we all have different challenges but this is good advice.

[@DistanceTraveled]

Paying off other bills for peace of mind-- I don't think it's a bad thing. But I think maintaining the stowing $20 with every paycheck away is what lets you take care of those other needs. And the hope is, with enough needs taken care of, you can have that $20 per paycheck grow into something more meaningful. So I hope you continue to stow away the $20, because it sounds like that system actually was working for you.

[@eos_aurora]

Saving can only really start when you’re debt-free. Paying off debts is a good idea

[@gifi4]

I aim to have 2k-3k Australian dollars in my bank account at all times. My savings account presently has 8.5k and will be around 10k soon. It won't ever be enough to survive on, but it'll be enough that without working, I will have several months to survive. If my present situation doesn't change, I should have 25k in savings within the nezt 12 months.

[@Carmen88888]

Hahaha love the humor in this video! I took the same conservative approach for the past 20 years, once I realized I cannot earn much- focused on health and raising my son right (the cheap things in life). Now I’m in my mid 40s and have some old medical bills hanging over my head but it’s nothing considering I’m in better health than many of my peers, have avoided passing the multi-generational trauma on to my kid, and now all I have to do is earn money and enjoy life!

[@Shaqofalltrades]

I’ve been watching you since 2011 and it’s been wild to see the changes in your content but I’ve been enjoying it every step of the way. It’s enjoyable going back to the oldies but I love that it feels like we’ve grown together as your content has evolved throughout the years. Thanks for always being relatable and entertaining Craig.

[@3jasonwebb]

I still remember the clones and the Whale who lived below him :)

[@StevenScott12153]

been saving a ton of money since the last video you put out thanks a ton

[@sanyo_neezy]

if you turn your phone calculator sideways and you use the x^y (x to the power of y) button you can also just put 1000$ * 1.08^10 to calculate how much your 1000$ will be worth in 10 years. This works at least on my phone

[@retyroni]

!!! Turn it sideways for more functions !!! Thanks for that, I had no idea!

[@the-mush]

You'll be missing the compounding factor that way

[@WhereWeRoll]

@@the-mushI don’t think that’s right. Multiplication is communitive and exponents are just repeated multiplication.

[@the-mush]

@@WhereWeRoll go try any of the online compound interest calculators online. Some even show you a graph with the difference between just the money you put in and the extra money generated just by the interest. It's not just multiplication. I'm sure there might be a clever mathematical way to approximate the real value, but the simpler way is to do it like mr Waiter here and iterate on each step (each year in this case). Also also, each time you deposit more money you are adding to the total amount, not multiplying it.

[@duscuduscu]

I think you guys are missing a phone update

[@adamspencer5142]

Yeah, you can't become a miser. Saving money is great, and there are usually some easy cuts to be made that don't negatively affect, and may actually improve your life. For me cutting fast-food was a big savings, and when I make food at home it is usually healthier.

[@yvonneoy3124]

And taste better

[@Wildxmo]

That math equation demonstration...I used to do the exact same thing, EXCEPT, now I figured out an easier way. So, using your example and, say... 10 years: 1000*1.08^10 Or 15 years: 1000*1.08^15 The power of exponents! Hope this helps you too. Edit - I just watched the part where you like to see it grow using the equals sign. That's a good point. I'm with you.

[@simoroshka]

I also like waiting for a sale on the product I've been thinking about for months 😅 like games on steam that wait forever on my wishlist until there's a sweet 50-70% discount 😂

[@dino.k]

When I started gaming, I added a bunch of games to my steam wishlist while playing the same 2-3 games, knowing I didn't need to buy a ton of games until I got tired of or finished the ones I already had. I quickly realized that games are on sales VERY often lmao, some of the games on my wishlist have a discount every 2 months i swear. So I'm not even tempted to jump right away on the occasion when I see one on sales because I know the sale will come back when I actually need it!

[@geeksdo1tbetter]

This

[@WealthyChronicle]

Imagine saving so well that a car wreck or a friend's destination wedding isn’t even a stressor! This is adulting goals right here. 💯

[@egorkosten]

This is great that we have KZbin, so many people are telling their stories.

[@Danikaash]

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.

[@JoefryAnders]

Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.

[@KeshiaJoshua]

Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $483k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.

[@muhammadufarouk]

how can i communicate with your advisor?

[@SandraBrokman]

search his full name.

[@SandraBrokman]

Jason Lunvo Rodriguez.

[@SusannahPerri]

Thank you for addressing the importance of having a healthy mindset regarding money, as opposed to "being wealthy," which doesn't necessarily assure one's future financial security.

[@emeebee3827]

this is great advice mr. waiter!! also, a note on deals and sales: they’re ALWAYS advertised as an URGENT, ONE TIME ONLY opportunity. this is ALMOST NEVER the case. deals will come around again! you do not need to jump Right Now!!

[@Mermete8]

You're right. Now with the magical powers of the worldwide internets we can even look up archived price changes on any goods. From that we can roughly estimate how much patience* is needed in case we want to use the next discount. by the time it comes we may realize the stuff is not even needed anymore. *patience = time = money also skill growth = better paying job. Always invest in yourself first

[@leahwilton785]

Most sales come around every holiday! and if nothing else, you know black Friday will happen yearly.

[@piotrp5668]

rule number one is avoid debt and every month pay credit card in full

[@uthmansheikh]

But using a credit card is not avoiding debt.

[@JP-ve7or]

​@@uthmansheikhWhat? As long as you have the amount you're spending and pay it off every month, there's no debt. And if you have a card that rewards you with points you can translate to cash, you're coming out ahead. You're also building a good credit rating in the process.

[@eos_aurora]

@@uthmansheikh it is avoiding debt if you pay it off and never accrue debt.

[@uthmansheikh]

@@eos_aurora Going into debt and then back out again isn’t avoiding debt; avoiding debt is avoiding debt e.g. using a debit card (with no overdraft facility) instead of a credit card.

[@eos_aurora]

@@uthmansheikh if you pay every month, you never go into debt

[@jennesont4791]

We have the same goals and money habits. It feels very comfortable. 🥰

[@Cheesesteakwithfriedonions]

When your income goes up, continue to pay yourself as if your income hasn’t gone up. Works for me

[@workinprogresssince1974]

I totally agree with this. Having more money set aside has dealt with a lot of the anxieties I still had 6 years ago and means I got through the pandemic and hopefully whatever is yet to come. It's not 'enough' but it's a whole lot better than it was.

[@itsYourfuture-f6x]

rt saved $ is more valueable then anything you can buy

[@fallandbounce]

I believe the same and similar. It's funny that many people think I'm broke and lost because I don't follow status or keep up with others. It's good having money put aside for when it's needed. Index funds are great to put aside and forget about, except when putting more money in (annually).

[@myopinionman8199]

Bro this is the first of your videos I ever watch and you’re literally me in every aspect hahah

[@TheWisestWizards]

I have a Blu-ray, Comic Book, and Video Game addiction. But I only allow myself to buy things on sale, never full price. I can't believe people are paying $70 for video games when you can just wait a few months.

[@M_SC]

Maybe try to cut out the blu-rays. The other things are hard to access other than buying.

[@Mediocre_at_best]

I buy most of my games from car boot sales for usually around $2.50 a game, same with dvds buying them for only about 50 cents each.

[@Volkbrecht]

Used to think the same. Unfortunately, this time has ended. At this point you have to wait for years for AAA games to down in price. Not impossible given just how much stuff is out there, but if you want to be in on a hype the better alternative is to prioritize and just buy less.

[@HatedJared]

I'm usually about 2 years behind the most recent games. Just started Baldurs Gate 3 and Alan Wake 2 this last week. I tend to buy quite a lot of videogames around black friday time when they are discounted and then just play those the rest of the year.

[@frederico-d3l]

@@Mediocre_at_bestim a 90s kid.... but dvds in 2024?... jesus. i havent used a disk in like 5 years 😅

[@UrbanPlumbers]

Dude - you are awesome😂😂😂. The more you save the harder it is to spend, isn’t it 😊?

[@MRJKeyes]

First video I’ve ever watched of yours and I chucked enough times in the first 1.5mins to subscribe. I’m a lover of dry humor.

[@Christine_Circelli]

Thank you brother 🙏

[@chrisniner8772]

I stated working a "real" job in 1989... I built an off grid home in 1997 with cash (yes is was ROUGH). Now with very little expenses (other than medical costs and taxes plus vicious inflation), I'm pretty comfortable. No wife, no kids, no insanely sized house. 3 paid off vehicles.... it could be a lot worse.

[@FrugalTreeHugger]

I appreciate that your $20 rule was $20 a pay period and not a day. A lot of saving methods say to say "however much" a day, and most people don't get paid every day. I never understood those methods.

[@nickns732]

I’m usually pretty stingy with my money, but I’m spending it now. New shoes, new electric razor, chest freezer. All that stuff goes up significantly in price in a months when those tariffs hit.

[@Fanta....]

Buy a passport to another country and never look back at that dumpster fire of a pretend democracy.

[@paipai762]

I love this take. I've been saving like this for 2 years now, and next year, I'll have enough equity for a house. It's probably the most sustainable way to save money

[@ncot_tech]

Need to save £100,000 quickly so I can quit my job quicker or I'm in it till I'm 75. I opened a second bank account and move an amount of money into it every month. That's the money to buy food, pay for junk and whatever. My main bank account is then where all the important bills come from. And they all come out on the 1st of the month. This means by the 3rd or 4th my main bank account looks really really empty and it makes me not spend any of it.

[@ChristopherCurtis]

Similar but easier if you have direct deposit: split your deposits into multiple accounts. There's no manual moving and when you do check in on the "hidden" account there's a nice surprise in there. My second account I say is my "fun" money, but I usually end up paying bills with it anyway. Though, I suppose that's the purpose if I'm paying off trinkets and gadgets I've bought. If you do this for an emergency fund, you should have a cap that if exceeded gets transferred to an investment account.

[@Fanta....]

@@ChristopherCurtis every year you should bump your emergency fund up to account for inflation.

[@CyrusDemar]

One of the best pieces of advice I've gotten is this: Don't skimp on anything between you and the ground, the rest is luxuries, so you can skimp on that. So, your shoes, favorite chair, the tires on your car, bed and the foundation of you house (If you have one). That will keep paying off in better back health, safer driving and less strain on your insurance policies. There are of course allways exceptions to any rules.

[@JohnChinack]

Hi Craig, first time viewer here and I am so happy I tuned in. I love your vlogs, you are wise, funny, give great advice and the best friend everyone should have!

[@paulo5861]

I remember when I was in my 20's and I had saved up enough money to buy a new motorcycle and I visited the motorcycle shop numerous times to look over the new motorcycle. I was driving a motorcycle at the time but I wanted to buy a new one that was more powerful and sharp looking. It was a pivotal point in my life because I realized at that moment that I liked the idea of being able to afford that choice more than making the choice itself. If I spent the money that I had saved it would all be gone. If I kept the money I would always have a choice in the future.The feeling of having choices was more desirable to me than not having choices.

[@vsvp4859]

Debt = prision

[@MrCefus]

I have been putting 10% away for 30+ years. Yes, I've missed out on a few things, but I can't really think of any of those that would have been important. I have a house a car (not new but working) and now I have a pile that should out last me as long as I want to keep doing what I'm doing just not any of that work stuff.

[@Vinegarissweet]

I have the same mindset. I just have less money right now. I'm sure some friend's would look at my account and be like "wow" but no. That's my emergency fund. I don't have any extra money. I don't see myself ever wanting to buy designer anything. I'm just not interested. The nicest thing I'll buy in the future is a nicer car and maybe a home.

[@williamolsen8517]

Craig, love your quirky style. Status seeking kills financial freedom and that is what you really have. The peace that comes from knowing that your income could cease due to a multitude of reasons and you could carry on. Money is a tool which like a chainsaw deserves respect. Be well

[@JayFingers]

I’m glad you mentioned the iPhone’s recent calculator update and how it messed up the equal sign function. 🤣🤣 It’s so maddening.

[@KarenTookTheKids364]

This is pretty much how I do things too. It's everyday financial advice for the common man and it's a great video. One of the most important things you mentioned is status or the appearance of status. For me this came with age but that might not be universal. Basically, I slowly but surely stopped caring about what other people thought about me or the displays of wealth they would make and began to feel sorry for them, like people at work who's salary was the same as mine. I know how cool you think a new car looks but I also know you didn't buy it for cash and what the monthly payments are on it. Drive a beater you have no emotional connection to as long as it's safe and relatively easy to work on yourself.

[@markmarkster]

Mental trick is to think "keep saving since next year's version will be so much better"

[@DaivG]

Really solid money advice throughout. It's really hard to convince people who DO care about showing off their wealth, that's something they'll need to work on intentionally and probably slowly over time, but the rest of these are small changes that are accessible for everyone to start asap.

[@GregWilliams-et3nj]

We are in our 50s with nearly $3M saved, no debt and $50K annual spending. But we avoid the stock market completely.

[@shashankmlrj]

Why avoid?

[@Genuine-iq2uy]

My butt fell off once. I.e. my teen son crashed my car. I had thousands of dollars I saved up and I was able to pay cash for a car. I still drive that car! 🚗

[@seastarbutterfly]

Max out that Roth IRA every year, don't have credit card debt, and take advantage of any savings / retirement (for ex 401k) if your work provides one. Great video, Craig!

[@rickhiggins6521]

I just ran across this channel and you think just like me since I was 20 and I am 80 and it has worked for me so far.

[@JorritV]

I do kind of the same thing. Start the month with enough money to get through the month (2k). Save/invest, pay utilities and food. If there's anything over 2k at the end of the month it also goes into savings. Been doing this for 6 months now and works great. Also always be tracking your expenses! And look at the funny numbers daily ofc, the "game".

[@jacobdriscoll8276]

I think the biggest difference between your financial world and mine is that I don't make enough to afford my lifestyle initially. I don't have a lavish lifestyle (quite humble, actually), but when you use $1,000 as an example of putting money in the stock market, my reaction is "Wow, Craig has $1,000 that he doesn't have to spend on rent/groceries/mecidine/clothes/basics!" I am lucky most months if I have $20 for that...and that ain't enough to open an index fund. :)

[@brianpalmer967]

It totally is enough; don't discount the value of putting $20 per paycheck away. There are services out there that allow you to invest smaller amounts and buy fractional shares. In about 2005, I was telling my best friend that he should open an account and put away $10 per week. He totally could have handled it, but he just didn't think it would amount to anything. Almost twenty years later, if he kept it up, and assuming he got a 10% rate of return, he would have almost $30k. That assumes he only did $10 per week, but once you get going, it becomes an addiction. You start wanting to cram everything you can into the market because you see it grow over time. Getting started is the biggest hurdle for many people, but once you do, you really get the savings bug.

[@M_SC]

Right. Don’t feel bad about not following advice that is for someone in a different situation.

[@NewlyNappy]

Great point about having money that you don’t immediately need to use. That truly is a luxury. I will say that even though you can’t buy an index fund with $20 you can buy an ETF that tracks the s&p just like an index fund for a little as $1.

[@mandypdx]

You can absolutely invest $20 in an index fund, many brokerages allow fractional shares :)

[@Fanta....]

The amount isnt important. Its all relative. What is important is you're constantly saving for a rainy day, and making sure your savings at least match inflation. don't be chucking it in a regular account, make it work for you.

[@micah_noel]

One of my biggest monthly expenses is arts and crafts supplies because I’m always thinking of different projects I want to try. But most of them are poorly planned and executed so I don’t end up turning these supplies into an investment by creating anything of value. Even if I did I wouldn’t know how to go about managing my hobby in a legit business sort of way. A few years ago I took a whole year off from this hobby and I saved a bunch of money and for a minute I felt like I was finally in a place where I almost didn’t have to worry about money. But then I dove back in and spent it all now I’m in the same month-to-month pattern I was in before. Feels bad.

[@Fanta....]

Don't give up. progress involves constantly re training your behaviors.

[@jackiemartin7276]

I love how you made the basic Time Value of Money equations so accessible with regular people math tools!

[@heidiho3089]

I wanna be more like you. Thank you for helping us think through these things.

[@theNorth473]

Live on less than you make. If you can afford a maximum of $2000/month on rent, find a place for 1900 or below (consider moving towns if you have to). If you can afford a $30/month gym membership, get the one that's $15/month. Apply this everywhere except for food. On top of this, improve the skills you use at your job. It WILL lead to a higher pay cheque. Rinse and repeat. You will be amazed at how fast things can change

[@MOSMASTERING]

Your status philosophy is the same way I feel about going to firework shows. Whooooosssshhhh........ ✨$500✨

[@emanhero6311]

I first time I received dividends from my stock I was surprised! It’s great to save.

[@TheDeadlyJedly]

I’m 25 this year, been loving your channel Since I was 19, thanks for being here for us all wheezy

[@hannasophia18]

I've never been great with money (the undiagnosed ADHD didn't help) and then I got long covid and was on government aid for about a year. But my husband and I are doing better! We were able to buy a house with help from my dad which actually saves us money because rent is ridiculously high. My husband just negotiated a raise at work and I'm getting an education in a different field to also be able to earn a bit more in the future. (I was a classical singer but the pandemic and long covid screwed that up unfortunately). But most importantly we are actually able to save now, which feels great. Our car just needed some pretty expensive repairs and yeah it sucks, but the fact that we just had that money in a savings account feels amazing. I've always felt intimidated by investing, but now that we have a little bit of money we don't immediately need, it feels like it might be worth looking into.

[@M_SC]

Buy index fund(s).

[@DannysKomedy]

fart in a jar

[@shawniscoolerthanyou]

I grew up poor so I have poor tastes and now that I have a grown up salary, a big chunk of it just goes into index funds in my retirement account.

[@InimicusSolitus]

My wife and I have worked retail jobs for years. We live within our means. In a few years, we will actually get to retire. House paid for, no debt, savings. All this working "normal" jobs. We love our boring life.

[@jasonmalstrom1043]

I do a lot of the things you mentioned. One thing I do is express my money as how many months of living expenses it is. It's both comforting and reminds you that your money would eventually run out without continuing to work. Although I guess one day the lines between age and money will intersect....

[@graygreysangui]

Some things that have helped me: 1. Knowing the difference between being broke vs poor. Since hearing it, it has stuck to me and allowed me the ability to say I can't afford something easier in company. -Being broke means you can't afford wants. Being poor means you can't afford needs. -Being broke means you might have the ability to give something up to free up some money to safe. Being poor means you're already doing the math of what you can temporarily give up in one need to support another and it changes by day, week, or month. -Being broke means you can't afford the item or experience whether because it is out of budget, not a priority, or you think it is a waste. Not that your friends and family wanting to do so are a waste of your time. Eating out is an example of wanting to spend time together but not wanting or being able to pay for the mark up. 2. Look at purchases in time cost more than money cost. [This has really helped more than asking if I can afford to buy it twice over or if I have something that can do the same thing already.] -How long do you have to work to purchase that item? -For every dollar it costs, that's the minimum number of uses you need to get out of it to justify the cost; the more times you use it, the cheaper it gets. This can help with memberships and whether they're worth it for you or high ticket purchases that didn't work out ideally (and you couldn't return it) before you purchase the next one. -How much time are you going to spend cleaning or maintaining the item? Even if it's as simple as moving it to dust or sweep. Or how much time does it take to use it in the first place? Example: can you afford to wait for that better, more expensive filtration system to clean your water or will you have to make due with a pitcher in the fridge because it's faster for your needs. Fermentation of foods comes to mind here because though it is healthier to do it yourself, you might not have the time required or your job may take you away from home long enough not to enjoy the fruits of your labor. -If you have a storage shed or storage unit, ask yourself how often you go to retrieve those things. Storage is a time cost. Storage has a time and place. I'm not saying get rid of all your holiday decorations because you use them once a year but in the case of my mom, her storage unit is 2/3rds Christmas and it's far enough from out house that she would rather buy new decoration than go to the unit to retrieve the old ones (still working on helping her get her things down to bring them to the house so she can get rid of the unit, at least.) 3. Think about future you. -I work in healthcare; we are not guaranteed good health or a long life. But taking the best steps that we can lowers our chances of needing to give up freedoms or having to work hard into retirement age (which isn't guaranteed either.) -Don't take away from your future self. If you have a 401k or an IRA, don't borrow from it unless it is for an education reason to boost your career. My cousin borrowed $17k from his wife's 401k for moving expenses and furniture. That's missing out on almost $1.5 million dollars that they haven't paid back into the account. Moving was something they didn't have enough time to save for but throwing the furniture off of the old apartment balcony because it was too difficult to carry it downstairs and instead buying all new all at once wasn't necessary. -Live enough life while you're young. The golden years aren't golden, as stated in the first point in this section. Have experience goals that you can talk about as you go through life. For example, I have been to Japan twice. I'll never fully remember the cost of it all but I will remember most of what I did and have several stories I can pass on to others; it was the first foreign country I traveled in by myself so it's all special to me. There will be very few stories about how long it took for you to afford an item, like a car, and they are usually short and a bit boring. 4. Use what you have. -Working on this one now. I have a soap bar collection; I like the smells but kept buying more than I could get through. -Same with food. Work with what you have on hand and make a list for the store so you don't get distracted. Deals are only as good as how you utilize the item before it goes bad. If you struggle to cook, start with one or two simple meals to make that are high in protein and/or fiber and learn from there how to flavor it different ways that you like. Oats are a great place to start, as they can be used as a sweet or savory dish with both a bit of protein and fiber. You might not like certain foods because they've only been one texture to you (ex. eggs, veggies, etc.) -Hobbies. As tempting as another hobby can be, use up what you have left from a certain hobby; it's still creative to find beauty in scraps. Maybe see if there is a lower-cost version of the hobby you want to try (ex. drawing or colored pencils before water-coloring.) -Books. Don't forget to check your library before going out to buy it. They might be able to borrow it on an interlibrary loan too; you just have to wait longer and return it on the dot. And if you have unread books on the shelf, give them 5-10 minutes to remind you why you wanted to read them in the first place with their pages. If it doesn't hold your interest, then ask if it's the wrong time or if it isn't worth your time and donate it. I know we all have books that we haven't read or fully read on our shelves.

[@jbedford9671]

100% agree that the lack of an equals function on the default calculator sucks!

[@suitedup2965]

Delayed gratification is the best way

[@slax4884]

Spending money is so fun though particularly for services and education. Thjngs like therapy, massages, physiotherapists, personal trainers, learning a skill from a poor PhD or masters student or having someone train you Martial arts at home is great and all are things I'd love to have. As long as it doesn't get you into debt

[@joefunk76]

Financial security is the ultimate luxury or at least the most important one, because without that, it’s hard to enjoy any of the other ones that money can buy.

[@scottieapplseed]

Can vouch for this as it's what I've done over the decades.

[@tonyflags8968]

This exact thing happened to me (not to me exactly) and I'm glad I had money saved up. My girlfriend got her butt replaced in Brazil last year. Best money I ever spent!

[@slax4884]

If money is a feeling it can be acquired without money. But I do understand the backing of having money saved does enable comfort which allows to take risk

[@glkification]

Your first sentence is a great quote, thanks. I'll be reflecting on it!

[@Bou89]

2:53 I sometimes need to have something fancy if I'm going to be facing someone who would bring me money. Because people will people and cast their judgement based on appearance. After I get their comfy side, I gradually go to dress more casual.

[@NaturalDrAmanda]

Thanks! 🥰 Loved the calculator demonstration for annual growth at 8%! 😅 “Look how much money (they) no longer have…” that’s wisdom. I’m going to go to the mall to people watch and say this to reprogram my thinking while shifting more funds into my Roth. 😊

[@super_heroes]

What iOS calculator was the one mentioned and used in the video for compound interest growth you did in your example? I’m also frustrated that Apple got rid of that continuous equal sign button feature

[@laurenjockimo5070]

This is the best visual explanation of compound interest I've seen - definitely sharing with my kids. Thanks!

[@JoshuaTrinityWolf-dc4up]

My wife and i are 65 and 63 and we will slowly be able to stop thinking about bills and money. I grew up in severe poverty and no one at school shamed me but my class was full of rich kids that had a ponies, cannon cameras, a library at home and summer European vacations. But you know your poor when they wear vested suits and eat 6 course lunches. Now, after years of work and Colleges it's time to think of possibilities without thinking of money. My wife and I play a game now called spontaneous kindness where we see a situation where we can invest in a situation to make someone happy. I remember I needed a nickel to buy a used 45 record when I was 7 but I was refused help. Spontaneous kindness is good for the soul and it often costs very little.

[@bramschiphouwer5207]

For the calculator, now you can use the xY formula where you can put the years as an Y. So you can say 10.000 * 1,08 xY 20 = 46.600

[@NovelNovelist]

Super agree with almost all of this! I'll add that the way I think about money has also necessarily evolved over time in a way that requires having more saved and invested. When I was just out of college and didn't have any money, you know, it was kinda okay because I had the realistic possibility of getting a new job that paid really well, or falling back on parents/family if something went wrong. Now as a middle aged person, this is it as far as my income goes. I'm not plausibly going to change careers and bring in $50K-$100K more per year. Likewise, I don't have parents/family I can fall back on anymore. Fewer options and possibilities means I've got to be a lot more careful with what I've got.

[@flexorlamonticus]

Your 20 dollar video sent me down a path of taking care of my future a lot more than before. I immediately set up a monthly 20 dollar transfer to savings, but since I am getting on in years, that won't be enough, so I eventually decided to do what you mentioned in this video: keep a reasonable monthly expense amount in checking, and move everything else to savings. So future me thanks you very much!!! (I still have not explored stocks yet) I work freelance, so I need to keep a nice bit of padding in my checking account to make sure all bills get paid even on slow months, but in general, I put as much as I can in savings manually every month (with the automatic 20 dollar thing still happening in commemoration of your channel!) My basic philosophy now is to do as much fun free stuff as possible. Go on walks, reread books on my bookshelf, etc. etc. It is amazing how fun life can be when you just put your money away, stick to the necessities, and spend most of your time doing free or really inexpensive stuff.

[@Demmie-nl2qh]

My bank has a practice stocks account, not remembering the proper name for it :D But you can learn how it works with 'fake' funds that don't pay anything. No risk, but you learn how it works. Then you can start using real money if/when you get the hang of it.

[@pf6638]

😂😂😂 I’m a new subscriber now. 😂

[@bethn2836]

“What if my butt fell off?” Like Opus in my favorite Christmas movie ‘A Wish for Wings That Work’?! This feels so incredibly niche and 90’s, I have no idea if anyone else will have watched it or remember it.

[@collyflower6623]

I haven't watched the movie but I love Bloom County! We used to have a plushie Opus in a Christmas hat, and I loved to read my parents' comic collections

[@jaimetarne9436]

I agree with your philosophy on saving and i have done someting amazingly similar. But, yes there is a but, at being 70, and the change in administration i took a drastic step and took all my money out of stocks and put them into a general securities fund. I am legitimately scared of the coming months and 4 years. And at my age i dont have 20 or 30 years to recover losing all i have saved.

[@slchance8839]

No kidding. I did the opposite. I upped my stock investments after the election. I'm up 3.4% so far, in less than 30 days. normally, it takes 6-8 months for that kind of increase.

[@searchersearcher8286]

I have the money but not the wants. ...freedom

[@janelleg597]

The current administration brought us to the brink of ww3 and you're worried about the anti-war president... Go out and touch some grass. You will be FINE.

[@davidfernandez2535]

Make a video about couples finances and budgeting!!

[@wr3add]

Ty vSauce 🙌🏻🙌🏻💯