For the last several years, I’ve been able to save 100% of my income. I’ll break down how I’m able to do this and how this is even possible, and the steps you can take to do the same - enjoy! Add me on Snapchat/Instagram: GPStephan
Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
Get $50 OFF FOR A LIMITED TIME: Code THANKYOU50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c
For those that have stuck around for awhile or watch my older videos, you know that I preach and practice a few basic things….cut back on your expenses and live frugally, save as much of that as you can, and invest what you save long term. Doing this consistently is what leads to financial independence. This is something I’ve pretty much done since I was 18…I was the weird type of person who just got WAY more enjoyment being able to save money than I ever got from spending it.
Because of this, I kept my spending to a minimum, regardless of how much money I made. I re-invested all of that, and after about 7 years, my investments were throwing off enough money to pay for all of my daily expenses, allowing me to save 100% of what I made elsewhere. My thinking is that I can keep my spending strictly at what the rental income generates…and each and every year, my lifestyle can get a bit better because I’ll re-invest everything I make from my “day job.”
For all of you watching, it’s really important to do a few things if you want to begin replicating this as well:
The first is to KNOW what you spend. Most people have no idea where their money goes…and it’s often those small $5-$10 daily charges that add up over time. So first thing is to track everything you make and everything you spend. I personally use Mint.com and PersonalCapital.com - both are amazing and work really well.
The second thing to do is to figure out what you can cut back. For instance, I don’t need cable TV…as long as I have an internet connection, I’ve got everything I need. I don’t need to got to Starbucks, I make my own iced coffee at home. I don’t run the AC or keep on electricity when I’m not home. I’ll wait to buy something until it’s on sale. It’s these little tiny things that consistently add up to large amounts over time.
Third…Once you’ve reduced what you don’t really need, now work to increase your income. Sometimes cutting back isn’t enough if you’re just not making enough money. If this is the case, the reality is that you’ll need to make more money, there’s no way around it.
Fourth….If you think you don’t have enough time to make more money, then you really need to audit how productive you are during the day. In most cases, you’re wasting time somewhere…
Fifth…you need to save and invest consistently. This isn’t meant to be something you do for a few months or a year and then stop. Ideally this is something you can do long term and turn into a lifestyle.
Sixth…don’t get trapped with lifestyle inflation. If you get a raise or make more money, SAVE THE DIFFERENCE. You can live exactly as you have been, except NOW you can accelerate your path to financial independence.
So with that said, that was how I was able to save 100% of my income for the last several years - and why I continue to pretty much save 100% of my income for the very long foreseeable future.
For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
Get $50 OFF FOR A LIMITED TIME: Code THANKYOU50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c
For those that have stuck around for awhile or watch my older videos, you know that I preach and practice a few basic things….cut back on your expenses and live frugally, save as much of that as you can, and invest what you save long term. Doing this consistently is what leads to financial independence. This is something I’ve pretty much done since I was 18…I was the weird type of person who just got WAY more enjoyment being able to save money than I ever got from spending it.
Because of this, I kept my spending to a minimum, regardless of how much money I made. I re-invested all of that, and after about 7 years, my investments were throwing off enough money to pay for all of my daily expenses, allowing me to save 100% of what I made elsewhere. My thinking is that I can keep my spending strictly at what the rental income generates…and each and every year, my lifestyle can get a bit better because I’ll re-invest everything I make from my “day job.”
For all of you watching, it’s really important to do a few things if you want to begin replicating this as well:
The first is to KNOW what you spend. Most people have no idea where their money goes…and it’s often those small $5-$10 daily charges that add up over time. So first thing is to track everything you make and everything you spend. I personally use Mint.com and PersonalCapital.com - both are amazing and work really well.
The second thing to do is to figure out what you can cut back. For instance, I don’t need cable TV…as long as I have an internet connection, I’ve got everything I need. I don’t need to got to Starbucks, I make my own iced coffee at home. I don’t run the AC or keep on electricity when I’m not home. I’ll wait to buy something until it’s on sale. It’s these little tiny things that consistently add up to large amounts over time.
Third…Once you’ve reduced what you don’t really need, now work to increase your income. Sometimes cutting back isn’t enough if you’re just not making enough money. If this is the case, the reality is that you’ll need to make more money, there’s no way around it.
Fourth….If you think you don’t have enough time to make more money, then you really need to audit how productive you are during the day. In most cases, you’re wasting time somewhere…
Fifth…you need to save and invest consistently. This isn’t meant to be something you do for a few months or a year and then stop. Ideally this is something you can do long term and turn into a lifestyle.
Sixth…don’t get trapped with lifestyle inflation. If you get a raise or make more money, SAVE THE DIFFERENCE. You can live exactly as you have been, except NOW you can accelerate your path to financial independence.
So with that said, that was how I was able to save 100% of my income for the last several years - and why I continue to pretty much save 100% of my income for the very long foreseeable future.
For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
Got it. Expenses. Save the rest
Nice I'm going to try do this. I'm on welfare right now. I'll save the whole welfare check and just eat the beans and rice in my cupboard.
Hello
TechieYouth refers us to these videos and it's extremely good one.
He will never let Rodolfo Campa rest Lol
This is more of a psychological piece of an advise. It makes no difference how much you save if you save money like that. Income is income. No matter how you divide it.
Kinda misleading title. If I would win in a lottery, I too could save 100% of my income and live my life solely with millions that I had won…
Graham, how do we get you as our real estate agent? I'm in the market for rental properties! 😃
haha Tai lopez
what health insurance are you getting for 180 per month?
We pay $0 per month on a phone bill and just use TextNow for our phones.. The version with the ads… but hey, we don't have a business of our own running yet, so will follow your up on that after it happens.
You`re the DEVIL!
You’re getting a thumbs up just for all them sneak disses on tai💀🙌🏼🤣
How's his internet 50? Mine is 54 to 59 with comcast. Anyway to lower that?
So "You Save 100% Of My Income" the IRS would be very happy to know it… Click bate much…
I love the subtle shade
What?! Why the Mercedes!? Nooooooo
ngl i play the same game with my account hehe x
Great content, love the channel. Can you please make a video about leasing vs buying a car when you own a business. Thank you!!
So basically you work 2 jobs and save 1 income, therefore you are only saving 50% of your income. Re-title this video.
300 for food a month ? I spend 600 a month and a lot of times I cook at home
200$ a month for the gym…better be a damn good massage…..
I'm 17 😂 and all my friends call me wierd for finding fun into saving and investing and being frugile 😭 but it's okay I know in the future it'll be worth it
I'm weird like you. You're my favorite weirdo 🙂
How can I save 150% of my income?
I'm 50 years old, and I learn a lot from this young man. Thank you for your wise and practical advise.
You beat the system Graham. The system wants us to buy a stupid Frappuccino like others said but if you live saving a lot you can be free for your whole life. Seems a good trade off to me.
I live off the grid and save half of my income….
I just want to save enough to own a dino skull!
I admire what u think, soooo spot on, i practically listen to ur utube every day, ignore any negative commons, you're the bomb!!!