Here’s a breakdown of EXACTLY how much I spend every month, my philosophies on saving money, and how my spending has changed in 2020 – Enjoy! Add me on Instagram: GPStephan
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BREAKDOWN:
Car Insurance: $125 per month
Gym Membership: $0 Per Month (Temporarily)
Health Insurance: $230 Per Month
Phone Bill: $70 Per Month
Internet: $75 Per Month
Utilities: $260 Per Month
Gardener: $150 Per Month
Food / Dining Out: $400 Per Month
Other: $200 Per Month
Housing: $7700 per month (Not including rents, equity, tax write offs, etc)
Tesla Model 3 Car Payment: $630 (Not including equity, tax write offs, etc)
Business Expenses:
Teachable: $99 per month
Insurance: $150 per month
S Corp / LLC Filing Gees: $150 per month
Tax Filing Fees: $200 per month
Zoom, Storage, etc: $100 per month
Credit Card Annual Fees: $130 Per Month
Full Time Help / Jack: $7500 Per Month
So, when it comes to everything…these are two big main takeaways that I have learned throughout all of my experiences saving and investing, it just comes down to this:
First, I only view my income as not how much I make, but instead – how much that money makes ME.
For example, if I earn $10,000…I don’t see that as $10,000…instead, I’d see that as $50 per month in passive income when I invest that money into buying a rental property at a 6% return. By that logic, if I’m able to invest $50,000…that’ll cover the basic grocery bill for pretty much the rest of my life. If I can get $350,000 invested in a rental property…that’s enough passive income to cover a 1 bedroom apartment in Los Angeles in a good area. And at $1 million invested…that’ll replace the average annual salary from most full time employees. I challenge you to start thinking the same way, as well…this will make the aspects of saving and investing so much easier, and over time – you can replace all of your expenses by having your money do all the work for you.
Second, beyond the essentials…I only try to buy things that I can put to work that will make more money, or can be seen as an investment.
For example, I consider the computer that I’m editing on right now to be a good use of money, that helps expedite the work I do. Or, buying an extra camera to film on so I could get a second angle for The Graham Stephan Show…or, paying extra to create a brick veneer for the background of my videos so they’re more visually appealing…or, even something like this house that I bought, I find it much more relaxing to work outside and come up with new content – and when I feel more at ease, I tend to produce better quality. If you can find a way to coordinate your expenses around things that will help INCREASE your productivity or income, it can be absolutely worth it.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
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“Hi gram from the future” and then the little wave. Honestly adorable.
Mrs kathy is legit and her method works like magic I keep earning every single week with her new strategy
Nice strategy I must say. I didn't earn as
Much as this video claim but I earn about 3250USD every week and I don't do that using video
People, the most valuable resource is time. Graham has earned enough that know he can hire an expensive assistant, and use his time in better and more rewarding ways. That's the point of this video.
Phew, Jack doesn't come cheap!
7:45 where you can really see that he has a cat.
Been there… Love them anyway! 🙂
Thank you for teaching me
Entrepreneur at heart, thanks for educating!
Graham: Why I'm Finally Spending Money
*youtube related: Why I don't spend money.
so basically I need a million dollars to rent a 2000$ appartment and have free groceries, only a millionaire would say this
Is health insurance really worth it before 45?
at the point you are i would never work again. your investments makes you enough money to live and enjoy life.
My thumb hurts from smashing the love button
Finally found someone who prefers saving over spending. Just like me
If you want to combine those first three, you’ll need to shave your head… 😂
I trade under stock market but have great passion for forex trading, likely it's profitable and I will have to give a try to see how good it will be to me.
The frugal way of living only works for people who really enjoy it. And in that case, there are only a few. One might acquire that sense through not being an active social being and not knowing the funs in life. Some of it might be innate which is the more likely option. Wherein I don't really get why such people exist. I guess it's because of the circumstances and the things that they've gone through but one of the biggest factors should be their choices. The friends they choose, the things they consider fun, and their choice of mentality. Nevertheless, as long as they enjoy their lives, it's fine. Though I still don't get it.
I never realized how much money I could save on food. I used to spend over 300 dollars a month on food but now I only spend about 40 dollars a month. And that's without sacrificing calories or nutrients. Whole plant foods is the way to go. The cheapest oats, potatoes, beans, pastas, rice etc costs nothing! Especially when you buy them in bulk and on sale.
So Jack makes a good living 🙂
I pay 25euros for gym and for the most things half the money you spend. i can't belive is so expensive in US
Of course it’s changed a little with a girlfriend. That’s life. If he kept it the same it would be so unattainable. My husband owns a business and we have 3 children. When I watched his older videos and saw the $200 food budget I thought this guy can do that because he is single with no children. It’s gone up now that he’s in a relationship and it’ll go up more once/if he has kids. His part of the food bill is $400 but she buys the groceries which is probably another $300ish so around $700 in food and that’s more normal in a relationship especially if your eating healthy delicious food. I’m excited to see his expenses as his life goes on. We make a really good living and live on about the same as him a month personal wise. Our business has totally different expenses that cost more. After taxes saving investing and giving we live on about 30% of our income and we live in ca too. We have 0 debt besides our personal mortgage and that frees up so much cash to use on other things while still living a very comfortable life with a great standard of living. I dislike cheap millionaires our goals are to be frugal and not cheap. The difference is we look for great deals but we are also very generous. Cheap people look for great deals free hand outs and still aren’t generous. I STRONGLY dislike those kind of people.
I have been smashing the like button for like 6 months but I just realised now that I’m not even subscribed😳
i taught the big change was we are having a baby 🤰 got that wrong
The “hi graham from the future” wave got me
You should bundle your home, car, and business insurance. And do a balloon policy over everything you own. Its considered part of your tangible net worth if its insured. Also money should always make you more money. So if your investment streams will overcome your monthly bills in the end you are ahead there. The 1200 1400 a month for everything but the house is right on key. The 5500 and 630 is another 6130 and 14 is 7530. Yearly that 120,000.00 so you need to making right around 300,000 from everything to break even in 20 years with investments and salary. If not you need to start some more money generating.
Is that $70 / month phone bill just for the phone service or also for the phone? If it's just for the service it sounds pretty expensive.
You pay the gardner 150 and he comes every week?????
I love watching your videos !
let's give the real answer: he has a girlfriend now
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70$ a month for the phone bill! man the US is an expensive place to own a phone. it will take 6-8 family members to get to that amount on the bill around most of Europe
“Very easy to smash” like my ex
Money can't buy you happiness but it can buy you 74° 😆🤣
You know you a boss when you make how much you spend a mth in a day 😭 excluding cars and house
just helping the youtbe algorithm : )
Wow symbolism. 🤮 Then stop saying is all your effort….you are one of them too…wow its all of them…🤮🤮🤮🤮👎
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Actually trading has not been easy for me.lost a lot of money through+500,FBS,also lost a lot of money to trading assistants and copy traders, almost gave up on Forex/ Bitcoin trading.but friend of mine introduced me to a good broker,at first i thought it was another way to waste my hard earned savings.but my greatest suprise was my investment of $3000 came out with $6580 in 10 days trading…You just have to be patient with them till your trades are completed..to be honest I didn't just recovered all my previous losses,l made much more than my past expenses. Actually he charges about 15% which won't affect you in any way since his trading efficiency comes in multiples of investment l personally recommend Expert Mrs Linda trading services for best copy trading always trade with them and stop loosing your money .. reach out to them and Believe me a here's his contact details
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Just a quick word of caution worth considering from my personal experience – I didn't opt in on phone insurance for years but I ended up smashing my phone and not for the youtube algorithm. It was very expensive and could have negated all the cost had I only opted for the insurance. I'm not one to drop my phone often but it happened again 2 years later, this time with insurance and my "new" phone was $10. I know it adds up but it's still many times cheaper than purchasing another phone or was in my case.
Need to get me one of those Jacks.
You were born to make a YouTube finance channel
your girls takin advantage of you bro dont be a beta
if everyone spent as much as you did as a % of income the us would have the GDP per capita of Vietnam
Actually trading has not been easy for me.lost a lot of money through+500,FBS,also lost a lot of money to trading assistants and copy traders, almost gave up on Forex/ Bitcoin trading.but friend of mine introduced me to a good broker,at first i thought it was another way to waste my hard earned savings.but my greatest suprise was my investment of $3000 came out with $6580 in 10 days trading…You just have to be patient with them till your trades are completed..to be honest I didn't just recovered all my previous losses,l made much more than my past expenses. Actually he charges about 15% which won't affect you in any way since his trading efficiency comes in multiples of investment l personally recommend Expert Mrs Linda trading services for best copy trading always trade with them and stop loosing your money .. reach out to them and Believe me a here's his contact details
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We all need a Jack 🙂
You are finally spendind money, you got a girlfriend LoL
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Dang, Jack is well compensated!
love this mind set! also glad to see GS loosing up on the reins!