So I think it’s no surprise, for those of you who’ve watched my channel for awhile, or who know me in person, that I’m pretty frugal…here’s why I don’t spend money. Enjoy! Add me on Instagram: GPStephan
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The video summer up:
I try to save 100% of my income by ONLY living the extra cashflow my rental properties generate, and it doesn’t matter how much I earn every month.
I’ve adopted this mindset that I live by: I only earn what my money makes me.
It doesn’t matter how much I make every month, I ONLY care about how much THAT money will make me INDEFINITELY if I invest it…and THAT is the amount of money I think I actually earn.
So if I have $100,000 net income in a month…that’s not $100,000, and I don’t have a lifestyle like I’m making $100,000 per month. Because FOR ME, that $100,000 is REALLY worth $300 per month…for the rest of my life. That’s how much $100,000 will buy me in inflation adjusted passive income, without ever worrying about running out of principle.
And when you see that $100,000 equals $300 per month…now you can understand why I’m not out there ballin with over the top luxuries. I can MAYBE increase my lifestyle $300 per month for every month I invest $100,000...but that’s about it.
Now call me pessimistic, or maybe I just have a realistic approach to all of this…but I’m not naive to think that this type of income will last forever. While I would LOVE for it to continue indefinitely, and I have NO intention of ever stopping, and I intend to be at the level of Grant Cardone, Gary Vee, and Dave Ramsey one day…I just realize that things change over time, and nothing will continue on indefinitely.
ESPECIALLY on Social Media, I’ve seen people come and go every few years…it’s just the normal cycle of things. And while I definitely intend to have as much longevity as I possibly can, I realize that just as quickly as my income scaled up - it could go down. Hopefully it doesn’t go down though…
I just really believe it’s smart to PREPARE for these things because life happens, and things outside of your control can and will come up…and then at the same time, focus on how you can continue growing and expanding so that it’ll last as long as it possible can. Cautiously optimistic is a good way to sum this up.
And here’s the thing…at the end of the day, money is really just about giving you OPTIONS. It’s about having the OPTION to pursue what you enjoy the most. It’s about having the OPTION to sleep in if you feel like it. It’s about the OPTION to focus your time on what means the most FOR YOU.
So what DO I spend money on, then, if I’m so frugal?
Well, besides index funds and real estate…which is basically where all my money goes..I spend it on things that really bring me value. Like I found a good deal in Las Vegas for $22 all you can eat sushi…and to me, that’s basically me splurging.
Beyond that…I really don’t need to spend money to make me happy. I like sleeping in, I like doing some light gardening in the backyard when it’s warm out…which is like every day here in Los Angeles, I like hanging out with good friends, I love a good conversation about random stuff, I love having the creativity to make youtube videos. That’s what makes me happy.
And for everyone watching, I guess the main takeaway here is that money’s main purpose is to give you security, and give you the option to pursue what you feel is best!
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF (Limited Time Only)
Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
Merch: http://www.GrahamStephanStore.com/
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
The video summer up:
I try to save 100% of my income by ONLY living the extra cashflow my rental properties generate, and it doesn’t matter how much I earn every month.
I’ve adopted this mindset that I live by: I only earn what my money makes me.
It doesn’t matter how much I make every month, I ONLY care about how much THAT money will make me INDEFINITELY if I invest it…and THAT is the amount of money I think I actually earn.
So if I have $100,000 net income in a month…that’s not $100,000, and I don’t have a lifestyle like I’m making $100,000 per month. Because FOR ME, that $100,000 is REALLY worth $300 per month…for the rest of my life. That’s how much $100,000 will buy me in inflation adjusted passive income, without ever worrying about running out of principle.
And when you see that $100,000 equals $300 per month…now you can understand why I’m not out there ballin with over the top luxuries. I can MAYBE increase my lifestyle $300 per month for every month I invest $100,000...but that’s about it.
Now call me pessimistic, or maybe I just have a realistic approach to all of this…but I’m not naive to think that this type of income will last forever. While I would LOVE for it to continue indefinitely, and I have NO intention of ever stopping, and I intend to be at the level of Grant Cardone, Gary Vee, and Dave Ramsey one day…I just realize that things change over time, and nothing will continue on indefinitely.
ESPECIALLY on Social Media, I’ve seen people come and go every few years…it’s just the normal cycle of things. And while I definitely intend to have as much longevity as I possibly can, I realize that just as quickly as my income scaled up - it could go down. Hopefully it doesn’t go down though…
I just really believe it’s smart to PREPARE for these things because life happens, and things outside of your control can and will come up…and then at the same time, focus on how you can continue growing and expanding so that it’ll last as long as it possible can. Cautiously optimistic is a good way to sum this up.
And here’s the thing…at the end of the day, money is really just about giving you OPTIONS. It’s about having the OPTION to pursue what you enjoy the most. It’s about having the OPTION to sleep in if you feel like it. It’s about the OPTION to focus your time on what means the most FOR YOU.
So what DO I spend money on, then, if I’m so frugal?
Well, besides index funds and real estate…which is basically where all my money goes..I spend it on things that really bring me value. Like I found a good deal in Las Vegas for $22 all you can eat sushi…and to me, that’s basically me splurging.
Beyond that…I really don’t need to spend money to make me happy. I like sleeping in, I like doing some light gardening in the backyard when it’s warm out…which is like every day here in Los Angeles, I like hanging out with good friends, I love a good conversation about random stuff, I love having the creativity to make youtube videos. That’s what makes me happy.
And for everyone watching, I guess the main takeaway here is that money’s main purpose is to give you security, and give you the option to pursue what you feel is best!
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
Good
I now See frivioulous spending as irrational and often arrogant. Why do people think that magically they will be more financially successfull but they don't change their behavior?
I only buy something which I needed when i am sad…that gives me more happyness and my mind distracted from pain
Such a good video
Man's cheap. Got it.
Financially abstemious
Hello Gizmo
There is a difference btw wasteful or extravagant spending and normal or responsible spending that enhances your life experience. Buying luxury items just to impress others is wasteful. Going on a great trip and enjoying great food and experience is not wasteful spending if the spending is within your means. We all will leave this lifetime at some point. You can't take any money with you, only the experience.
Gold!
Gizmo got me to hit the like
I do love buying tools, Mechanic tools, welding tool, home improvent tools, landscaping tools. Tool investment plus my time/labor yeilds great returns ,mostly. I love that feeling i get when i buy a tool and then make a chunk of $$$ with that very tool. Its like investing but a little less abstract.
HELLO GIZMO !!!!!!
I ALWAYS SAY IT PAYS TO BE CHEAP !!!!! LOL !!!!!!
Make a video about casinos, people wasting money on gambling
I think a problem with many people is when they get a lot of money in their hand, they gotta spend it. I got a decent work bonus and everyone was asking what am I going to spend it on. You are definitely right about the more money you have, the less desirable it is to have an item that you used to want when you could barely afford it.
jewish moment
what was the name of that watch again? I forgot
Alternate title: why I live under a bridge
100% my favorite video of your's!
Graham isn’t the point of making millions giving yourself the pleasures like flying comfortably, eating great meals, driving a nice car, living in a spacious beautiful house, wearing nice clothes etc… obviously you don’t want to blow all your fortune away but just having it and not enjoying any of it either is also kinda pointless isn’t it ?
I dont agree man, some of your logic just sounds like self justification for your irrational fears.
He has a pretty nice pad now…. Lol
I enjoyed this video
Cautiously optimistic.. can I put this on a T-shirt?
wow
Because you’re a big gay nerd
Graham moved to Vegas for sushineko prices 😂
where can i find a girlfriend with this mindset.
so glad you made this video and what you spoke about
What is the watch you are wearing? Lol
love it!!!!
🏖 I feel the same way, but I didn't hear anything about sharing/giving to charities or the poor ?!? This is where we differ.
Super cheap
yeah you wear cardigans, you definitely thrifty
Sup G 🐶!
Hello gizmo