Up next in 10
Why I'm so frugal and why do I embrace frugal living?
I personally enjoy simple living and financial minimalism and I've always enjoyed saving money more than I enjoyed spending it.
For me, life experiences and self-education are more important than materialism and/ or consumerism.
In this video, I will also give you 3 reasons why you should adopt (or at least try) a frugal lifestyle.
//Creative Commons Attribution Licence video (Reuse allowed)
Show More Show Less View Video Transcript
0:00
Hey man, look at these shoes. They're nice and they're extremely comfortable. I wore them a few
0:04
times already but the best thing they only costed $15. Yeah, they're nice and comfortable but people
0:10
can still see they're non-brand man. Okay, now these shoes are actually Nikes so I wasn't talking
0:16
about these shoes and it's not me advising against buying quality things. It's me advising against
0:23
buying labeled things or it's me rather advising against buying nice things to impress dumb people
0:29
who don't even care about you anyways. The conversation I started this video with was a
0:34
conversation I've had about eight years ago with my co-worker who I would call Jeffrey in this
0:41
video while we were both working in a restaurant in Copenhagen, Denmark. I was a bartender and
0:46
Jeffrey was a waiter and obviously we were both working on minimum wage. I was frugal or at least
0:51
I did not like buying things as much as I liked saving and Jeffrey was exactly my opposite. Now
0:58
because of my lifestyle I was able to start doing what I like aka make a living online, be location
1:04
free, work from anywhere in the world on my own terms but also achieve other dreams. Like for
1:10
example, last year I've been to USA for six months to train Brazilian Jiu-Jitsu full-time. Now Jeffrey
1:16
after all those years is still working in a restaurant and still buying nice things he
1:20
cannot afford just to impress dumb people that don't even care about him probably. Again, this
1:25
video is not me advising not to buy quality things. I strongly encourage you to buy quality
1:31
things or it's not even me advising you not to go on an expensive vacation if you can really afford
1:37
it but it's me rather telling you that you should have your priorities in order and I think you
1:42
should prioritize your financial and location freedom before all these things. Now let me give
1:47
you an example. Let's say you have a salary of two thousand dollars per month at your job or maybe
1:53
you're a freelancer and you make two thousand dollars per month or from your business it doesn't
1:57
really matter. Let's say you're making two thousand dollars per month right now and tomorrow you
2:02
receive a hundred thousand dollars in cash. Now what do you do with it? Would you go and buy a very
2:08
nice car that costs a hundred thousand dollars or would you rather invest that one hundred thousand
2:12
dollars and then get five hundred dollars every single month from now on from your investment
2:18
And unsurprisingly I would advise you to choose the investment and let me put things in perspective
2:23
for you. You get five hundred dollars every month from now on from investing a hundred thousand
2:28
dollars and you have a salary of two thousand dollars right and that is a quarter of your
2:32
monthly salary. So that means actually you could take off from work a week every single month from
2:39
now on and still get the same amount of money per month. So you see what I mean? And besides that you
2:45
would still have your one hundred thousand dollars intact over the years. Now I want to give you the
2:49
three main reasons of why I think you should adopt the frugal living but before I do that let me tell
2:56
you and let me explain to you what frugal really means to me because it might be different and it
3:01
all comes down to money and how you're spending your money. So let me tell you what I mean. First
3:05
thing you're not an impulsive buyer right so for example you see an ad on facebook and you know
3:11
showing a nice watch and you click on it and you end up buying it. You're not like that but instead
3:16
you are an opportunity taker and when you see the opportunity train you jump on it. So you see a
3:23
course on public speaking that you've been thinking about investing in for a long time and you see it's
3:29
discounted now you buy it. You see a course that teaches you how to make money online for example
3:34
with affiliate marketing you buy it. I think you're frugal. You're not an impulsive buyer and you don't
3:39
buy things you don't really need. You invest in yourself and you educate yourself. Well I think
3:43
you're frugal and the easiest way to test yourself is to think what did you buy last black friday if
3:50
you did indeed buy something. Was it a large screen tv that you could not even afford and you had to
3:57
take a loan to buy it or was it something that could be considered as an investment in yourself
4:03
and the second thing is that you again you don't buy things just to impress others okay like
4:09
designer clothes latest iphone all the time or even a very fancy car but instead you educate
4:15
yourself you invest your money wisely in yourself which will make you a better person it will make
4:21
you more productive so that can be anything really from courses physical books audio books to even
4:28
buying better quality food organic food or even a new mattress high quality mattress for your bed
4:33
that will give you a better quality sleep at night well i think you're frugal if you do all this you
4:39
don't buy dumb things just to impress others but you're not cheap when it comes to investing in
4:44
yourself i think you're frugal you know for me it all comes down to what you're willing to spend
4:48
your money on and it's not that much about just mindlessly saving money without a purpose people
4:55
think of me that i'm frugal and i think the same i'm 30 years old and i never owned a car in my
5:01
life yet if i go to a restaurant i drink a lot of water before because i think the water at restaurants
5:07
is overpriced it's expensive but at the same time just last week i invested in and bought a 1500
5:15
marketing program and i'm gonna put the screenshot somewhere on the screen so you can see that it's
5:20
true but still at the same time i'm frugal i think of myself as being frugal and people tell me all
5:26
the time that i'm very frugal now i'll give you the three main reasons why i think you should adopt
5:31
the frugal living or the frugal lifestyle and reason number one when you stop buying dumb things
5:36
you don't really need you save money and that money you can invest back into yourself into your
5:42
own education or as said before you can invest in buying back your time and how do you do that
5:47
well you invest in real estate or stocks for example and you make passive income number two
5:52
you break the chains of scrutiny you break the chains of caring what other people think and you
5:58
get on the chains of caring what you think which is much much healthier for your mind and spirit
6:05
and number three less stress when you don't try to keep up with the joneses all the time when you
6:10
don't think oh my god iphone 237 is out i need to buy it i need to buy it i have to be the first
6:18
one from my peers to have it well when you get rid of this attitude obviously you will be less
6:23
stressed and trust me when i tell you having peace of mind is much much more important than a stupid
6:30
iphone so that's it man i hope this video will encourage you to adopt the frugal lifestyle or
6:35
at least try it because it did a lot of good to me and i'm sure it can do a lot of good to you too
6:40
now if you want me to make another video where i give you practical steps of how you can adopt this
6:45
lifestyle and i give you my number one secret to make this lifestyle not only easy but very
6:51
enjoyable actually then let me know in the comment section down below and if there are many of you
6:56
who want it and it makes sense i'll make it but that's it man i really hope this video helped and
7:01
if it did please like and consider subscribing and see you in the next one cheers
Finance
Financial Planning & Management
Investing
Crowdfunding
Socially Responsible Investing
Self-Help & Motivational