0:00 [Music] what is some of your best uh or what are some of your best moneysaving life hacks o moneysaving life don't spend it don't get married don't get married is really good that's really don't get married don't get married don't go out to eat be alone the rest of your life yeah that's really good that don't say a lot what if your wife is like more frugal than you well then you win the lottery Joe yeah yeah I'm not I mean Hannah's the girl she still spends but like there are gems out there where the female is more frugal than the mail then that's that's amazing when your chick okay are you ready for a real one yeah when you know your chick is going to go she wants to go to Target uh-huh you go to Target 30 minutes prior to that you hide all the
0:50 pillows in there ████ one and they'll just be like oh the pillows I guess they're out of pillows today he's a pillow collector oh just a little bit just a little bit here's a good one that I liked and it has to do with um buying things outside of your like you know your routine Necessities like paper towels and soap or whatever yeah um the first one that I liked was um don't buy anything unless you can buy two of them cuz people will be like I'll save up all my money to buy like a Rolex or whatever well you can't really afford if you can't buy two but I could buy 10 so make then that's fine then then you if I saved up to buy two Rolexes then you have enough money to afford it cuz a lot of they stretch their dollar they stretch how much they they they have and they have an imaginary world of what
1:40 they can afford but they can't actually do that and then they want to just keep up with the Joneses you okay that's a good one and the other one is um anything outside of your necess Necessities is however much you're about to spend on this new toy you spend that same amount in a investment first so stocks crypto or whatever so like let's say you're like oh there's this really cool camera I've been wanting to get like 2 G's well put 2 G's in this first and then you can buy that thing I also think that if you focus on one thing first like as an actual Nest Egg to like you know actually establishing your your portfolio I would start with real estate like immediately like like and I I just mean like do that first initial save to buy real estate and after you get the base layer of like one property that's yours and if you can live in primary primary residence that's even better but like then you can start building w from
2:30 there but that should be the number one place you start in my opinion another thing is people need to keep their jobs yeah smart a good one keep their jobs mhm I mean if you could go to us you could hop from job to job yeah but there' be unemployed ass ████ trying to talk about investment advice you don't got money to invest with in the first place like why are you trying to be a millionaire like yo what is the best investment that I could get into right now I got about $130 yeah I want to be a paper millionaire in about 2 and a half years and it's like dude you don't even got enough money to play get a ████ job oh but I don't want to work for the man you know I ain't going to do no like that's I hear this ████ so much it's like Hey Joe man I want to I want to um teach me some business advice and I'm like okay what experience do you got no man I'm not trying to ████ work I'm
3:20 trying to be an entrepreneur well you got to learn how a business runs and the best way to do it is by having a job you could work in the company and pretend that as if it's your own and you can learn everything about it on their dime like why would you want to risk your own capital and ████ lose it all it's just get a ████ job legit there's everyone's so allergic to jobs right now they don't want to ████ work or what they just want to go straight into I don't know like a ████ internet scam or let me just make some quick money real quick online I'm going Drive Uber I'm never going to work for someone I'm going to be my own boss like everyone they want a hashtag Hustle and I'm like you don't even know the basics so get the basics down when you have extra money then you know how to save that but how do people even get to extra money cuz they I don't know man
4:12 they a lot of what I see is like they spend with their feelings and think about it later M yeah yeah I think what they're asking is more like money saving life hacks not really like how do I get rich oh like how do like I have amount of money like like credit card points yeah yeah like little credit card points eventually you can save up enough to have like free flights yeah or just like little little tips on like uh I think sleeping on I think like Anthony was saying this morning using your debit card everywhere and sleeping on credit card points is dumb but you have to be disciplined enough to know to pay that ████ off every month and not miss or you're playing with fire which you can take advantage of yeah just auto payments and there's stupid ████ out there that'll tell you old wives tale about building credit they'll be like all right what you want to do is you want to um max out your
5:03 credit card so you have a high balance and you don't pay it off what you do is you pay the minimum every month cuz then you show that you could it's like no ████ you always keep your credit way below under 50% of what your limit is ████ actually and you always uh whenever you qualify for you always get an increase to your credit line yeah as as for all of your credit lines because the difference is let's say you uh have a $10,000 credit line and then you've spent like $1,000 that you have $1,000 balance on your credit card the credit companies will look at that as you have youve spent 10% of your credit but let's say you've increased your credit line to your credit score accordingly so but if you increase and now you have like $220,000 in credit line and you have $1,000 B balance that's only 5% so it's
5:53 like you effectively use the same money but just by increasing your credit line it looks like you've used less of your credit but by the way don't get a $10,000 credit line and put $30 on in a month cuz you're only paying your gas with it or whatever being a careful boy like that also can hurt you and then I think this is an unsexy one but I think the very first thing for me in terms of like saving money was like learning tax system like when you actually learn how to do taxes a certain way and you gamify it so it's a fun thing cuz saving money is essentially the same as making money and like when you understand taxes and you understand like how to categorize things or like what's a good write off how much can I push this limit how far can I write this off and you're like oh I didn't have to pay that much that ████ was so satisfying to me to be like ah F the man I'm not giving you all of my ████ only because I got screwed the last
6:45 year you know and thinking that like you know I was like oh dude I got I saved like 60 Grand this year like this is the best year I've ever saved money and then Uncle Sam comes and takes 30 something thousand and I got to pull half of it out of savings and I think to myself I'm like dude I can't get out of this Rat Race So I think first understanding taxes and changing that so I wasn't getting screwed every single year and feeling just demolished yeah that became the okay cool what did I save and then that gave me options to think what's next and for me my style is automatic Investments is helpful for me because I might not be able to like take like all my money this week and be like how do I break it down but instead if I just go like automatic this is how much I weekly want to invest in all these things that it's Auto then what ends up being in my bank account is what I have left anyway so it's like the the smart stuff is already done and I'm not thinking about
7:36 it if I have it that's what I have and by the way we're not coming at you as gurus right now it's cuz we ████ up before and this stuff so we know a little bit about it like dude the credit thing like used to put my head in a tail spin cuz I didn't I just completely like I remember when I was like 21 I was putting my girlfriend through college at the time dumb ████ ████ and like putting everything on the credit card right and then when I got my credit card increased cuz it was like oh you're using your card a lot we want to increase your credit line I was like we're Gucci baby and like I just kept on you know I basically gave her the credit card and let her charge whatever the ████ she wanted on it which was dumb one day she did $450 on on iTunes in a day what she I don't know a bunch of ████ you know umy spear Steely Dan albums and ████ like that like I would never buy Steely Dan stuff that's worthless to me
8:26 yeah yeah can't even repurpose it yeah tell me about it stuff like Dave Matthews and ████ like that ████ off yeah no it was on mine was on my I paid for it so then yeah but you know learning through that Fiasco like really helped set me up and then she married uh Dan Harmon later so she didn't have to deal with any consequences it was awesome just identify her so well no I don't remember who exactly was something like that I agree with anony is like for me taking my stupid brain out of it and me not rational izing oh I should take this money and use it for something else has been the game changer for me cuz it's like once I automate how much I'm going to invest in my Roth or my savings or whatever I'll put that away I don't have to think about it that's the best if I had to do it I it would never get done and it's like as the sooner you do it the easier it's going to be and then
9:16 you afterwards you're going to be like oh ████ I'm so glad I did this like two months ago cuz look at all this money I have in my account that is like growing from me whatever by the way if you have your own business escorp if you contribute to your 401k you can deduct that taxes ████ like that is dope that cliche phrase is pay yourself first but then you hear like what the ████ does that mean but that's exactly what it is is putting like invest in yourself first before you even have spending money and you'll thank yourself way later yeah cuz you're going to spend it on nonsense yeah you are if I if I just bought real estate in my 20s which was possible it would have changed my whole life you know what I mean cuz as soon as you start thinking about buying real estate you're like why didn't I think about this when I was 20 exactly dumb ████ exactly and you d to yourself in the mirror but I mean even back then California felt unattainable like it it's cheaper now than it I mean back
10:07 then than it was than it is now but it still felt like I don't know how I can ever afford this stuff cuz I'm sure you get that all the time where people always say like I don't know how I'm going to afford this when they're asking for advice but it literally is like you better start now or you're never going to afford it but if you like let's say if you are from like a really high um like let's say Honolulu la New York I would really encourage All the Young Folks to look out of state because it is hard like you got to save up 200 300 Grand like who can do that even on 100 pay only yeah like even if you're making 100K most people are on a W2 right so that means you're taking home 5K a month and you got to live off of 5K a month in a major city your rents almost 3K or
10:57 more for a ████ Studio or to bed so it's like what the ████ are young families all these people it's like you're talking about people who are pharmacists lawyers all that these are good ████ jobs and they can't even afford a house in La Honolulu New York so then like yeah I'm like I I think you should gentrify and raise up the prices of other states and then they'll say you ████ californ but I I think that's the only way right there's no other option unless you guys house hack with like a couple of your homies and then you pitch in on a house that's cool can you live with roommates you know that's another thing too if you can endure and enjoy roommates or endure living at home with your parents as long as possible some people just have to some people but some people
11:48 get real lucky because like after like three extra years of living at home that like in LA that's equivalent to like 80 to 90 grand sometimes like what you would have spent on rent that's your down payment and if you stay in a bad relationship for another year just cuz it's cheap hell yeah baby oh also if one hack too is if you can at least leave your address as your family H's address if the car insurance is cheaper in that zip code oh that's cuz if you go to like let's say you move to LA or downtown or Glendale it's going to shoot up it'll be cheaper whatever small time if a family if a family member of yours is in the military dump your car insurance and try to get USAA seriously that's been lit for me military stuff sounds so funny USAA like
12:39 cuz like when me and Nikki got married first thing I did was I was like ditch your car insurance you're getting on my plan right now cuz USA is so much cheaper not a commercial just how it is I switch i s I save money switching to USA what about those VA loans VA loan's pretty sick it's it's like it was pretty sick before true it's pretty sick before but now it's like sicker than ever cuz like before it was like um it already has 0% down which is pretty crazy and then you get the lowest interest rate possible which is like sometimes could be one below what the national rate is so the national R's at six you get at five and then the one thing that they had before it was like proportional to like whatever the median home value is per state so like if you lived in California your cap might be like 700
13:29 Grand of a loan but you live in like North Carolina might only be 300 now there's like no cap M so now the really smart people are like straight up buying like a multif family home like uh with like four units on it for like 1.5 million because they can with 0% down and then they'll like house hack it and like fill it up with all these other people there's all these people that are really good at it now the duplexing yeah and there's so many uh like military VA loan influencers that are teaching people this stuff which is pretty cool sick I think like if you think about just the basic Basics right well for one we're coming at it as a entrepreneur and freelancer mentality where they can't write off a lot of ████ if you have a job job if you're on a W2 yeah but A good rule of thumb is figure out what you can tuck away for each
14:20 paycheck so like let's say your paycheck is like 1,000 bucks for every two weeks if you can afford doing at least 10% let's say 100 bucks you just got to tuck that away and now there's like stick to it h and stick to it and just stick to it and most people can't do that so when you talk about saving right and then this is the thing is when people talk about I need to invest or whatever if you can't even get the basics down like that like what makes you think you can gamble that money yeah right but that's and now we have other things like Robin Hood and you know we can actually access we didn't have that growing up we couldn't buy stocks but at least now you can like tuck away money that is a higher percentage than like a savings account well savings suck you're going to lose money every year but before you even understand inflation all
15:10 that stuff if you can't even get that first stage down I think all this other stuff is to Next Level you can't hack the system if you don't know how to hack your own self how to like stick to something system yeah yeah whenever I like when I talk to clients about like nutrition and stuff I always tell them like so much of it is just about your behaviors and like what you can get done and the more I learn about like finance and personal finance so much of is just about your own behaviors like it's like how often can you save do you have like a saving habit do you have something that you could do consistently over time because I've talked myself out of like not doing like oh I won't ████ put money away this month I'll use it to like I've done so much of that nonsense to the point where I've like ████ myself over in reality it's like dude I should wish I just stuck to just having this habit and doing it for over a longer period of time and I would have been in a much better place but it's like I think you have to go through that
16:00 so you could really learn cuz when people were telling me this in my 20s I'd be like yeah whatever I'm going to be different those rules don't apply to me but it's also so slow and boring is what I realized like the older I get I'm like the slow and boring is tried and true and it does it's like when they say you know you're tucking ████ away for a rainy day right but when you're younger you don't you feel like you don't got that time cuz it's like 100 bucks a month U every every month like that's not going to do anything I'm not going to going to get rich off of that right so you don't ████ do it 20 years pass by and you go oh with a compound interest tucking that away in an index fund would have been really nice by now and that's the game is the compound that's the biggest hack just starting as early as possible how many if you guys are in high school or whatever even on a minimum wage job dude like I show my employee this all the time I'm like all right how old are you right now they're
16:51 like 17 all right cool imagine if you put just 50 bucks every week out of your paycheck in this uh like Blue Chip stocks right or or like you had a portfolio of just normal safe it's not going to tank and then I show them the ████ um compound interest Cal uh calculator and I said when you're 30 years old this is how much you're going to have and they're like hundreds of thousands of dollars and I'm like yeah that's how it works but they go like that's 13 years yeah yeah yeah I want go Club this weekend for real and get bottle Serv definitely me with these new Jordans on they rather buy ████ Pokemon cards or something for an investment well that could be big Mak sense it can be send me that yeah it can be but I remember being that age too and going like in third by the time I'm 30 i' rather be I might as well be dead that's so
17:42 old now I'm the ████ Uncle 40 years old telling them like dude just ████ do it yeah I would tell people too if you want to get involved with crypto and you don't want to ever pay attention to it you just want to get involved with crypto you do what I call the tripod you get Bitcoin you get ethereum you get BNB you just said it and forget it you just like cost to average that ████ every month and just don't even ████ think about it again for 20 years yeah like and then that that little tiny little neest again small to big earn it always do a small amount of money so you're not risking everything like you can lose a lot of money in crypto but it's all about how much money you put in in the first place if you do a small amount you try to build it into a bigger amount right you don't just try to punt a s███████ of money like that's my job the people who do that will get annihilated doing that right y yeah I I've never done that but all respect you guys are badasses but like I always do small to
18:32 big that's that's my whole thing well I mean it's it's it's all about how much principle you get in so the principle is how much money of your earned hard-earned cash that you put into the stock market or whatever that's the amount and then you kind of snowball it upwards hopefully I've never stressed a day in my life about crypto because it never put that much in yeah like that's the whole thing is like if you're any good at it you can multiply the amount that you put in initially over time and that's the whole idea just a couple of years instead of like maybe 20 years maybe it's like 5 years yeah cuz I when I say I'm like down I don't I actually don't count the unrealized gains and losses like to me I just think of my principle yep me too but other people do also look at it and they go like well what about the opportunity cost that you could have deployed that Capital elsewhere I'm like you can always do that in any investment anything anything but it's just about do you have faith in
19:23 that certain asset class so like like like I say if you want to just set it forget it don't think about it Bitcoin ethereum B&B right like just that's why I call the tripods like a little base layer that that's sturdy right and then if you want to touch alt coins you do a very small amount compared to what you would do in Bitcoin ethereum BNB or or if you're more risk you know you're more into risk you could start like scaling into alt coins but you're scaling into alt coins you're not ████ one book that that helped me it's a quick read it's called richest man in Babylon it's like a really quick novel but it it's an interesting Nar like a story and in that story this guy basically he was a he he was a slave in his past like and not his past like his for he was a former slave that became the richest man and um they asked him like how'd you do it and whatever and
20:14 through the story he teaches you like okay when you get your paycheck put this much amount paying off your debt you pay you save this much put it in your bank account whatever super simple way of understanding Basic Finance and it was an entertaining book it wasn't like cuz I think when it comes down to this stuff it's ████ boring right but that was like one of the in most interesting ways for me to learn about that and apply it to myself and I got out of debt that way and I owed about 30 40 Grand after college wow so yeah Rich's man bobon yeah TI real quick easy read
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