My Problem Spending Money

Here is exactly why I save so much money, along with my beliefs and philosophies on spending, personal finance and investing long term - Enjoy! Add me on Instagram: GPStephan

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Here’s what I’ve realized, money is, at it’s core, really good at giving you OPTIONS. For me, it was the option of NOT needing to take work that I didn’t thoroughly like. I had the OPTION to pursue the endeavors I found the mot fulfilling and meaningful. I had the option to SAY NO to things that didn’t align with my priorities, and that - in turn - meant I could focus on what I was most excited about, and when that happened - oddly enough, I ended up making more money as a byproduct of thoroughly enjoying what I do, because that gave me the motivation to continue pushing even further.

That would NEVER have been possible had I built a life of high overhead, excessive spending, and luxury that I never needed in the first place, because that’s NOT the most effective way for money to be used - and by living really frugally and saving nearly everything I made, this type of choice became possible. From my experience, the REAL enjoyment doesn’t come from buying things…it just comes from having the OPTION to buy them, if you wanted to.

And no, this isn’t to say that I don’t spend money on anything…because that’s absolutely not the case….I now treat myself to sushi twice a month. BUT, that’s why I do my best to ONLY spend the money I make from my investments, and if there’s something I want one day…I’ll make sure I have enough invested to completely pay for it, otherwise…I’ll just continue saving.

That’s how, over time - I’ve gradually started spending a little more money and increasing my lifestyle, and then I can continue my current lifestyle of re-investing everything else, so that the investments can support whatever OTHER endeavors I choose for the future.

Because I totally believe it’s ok to spend more money, to do nicer things, to accumulate more “stuff,” and to give in to a moderate amount of lifestyle inflation…IF it’s something that’s sustainable. And for me, stepping it up a little bit each year is totally fine as my investments grow in value and throw off a little more income. As long as I keep my spending at THAT level, I’m ok with it.

By structuring my spending this way, I know my current level of spending is sustainable - and knowing that, it gives me the freedom to continue working on whatever I enjoy the most, and having the OPTION to pursue whatever I’d like - even if it isn’t the most financially lucrative.

Now, in terms of HOW I SPEND MY money…lately, my mindset has begun to shift;

For the first time in my entire life, I’ve begun to prioritize “buying back my time” - in the sense that, now, I can hire an editor on my second channel so that it frees up more time during the day to focus on here. I was able to happy to pay him as a driver so I can edit my main channel videos on the go. I’ve begun to realize that there’s only so much I can do on my own - and by outsourcing work, I have my time back to continue growing and expanding in ways that just weren’t possible before. To me, buying “back my time” is more important than any car, house, or “thing” that I could buy - because time is something that really is priceless.

So that’s why I save pretty much everything I make, while only spending what my investments make - because that gives me the most choice as to what I do day to day. And today, my choice is to ask you for a second time to smash that like button :)

*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.

[crystalh]

I love the quote “money doesn’t buy happiness, it buys freedom”

[generalflight]

“What’s up you Graham it’s guys here”
**visible confusion**

[mdobreecarey]

"The real enjoyment doesn't come from buying things, it comes from the option to buy things if you want to"

[krillansavillan]

He does the intro mistake for more comments - brilliant graham this guy

[cryptoflippodcast]

*The real reason people are saying that is because they spend all of the money they currently get*

Which is why Graham is where he is and most people are where they are. Facts 💯💯

[FinancialBeanstalk]

The first step is acceptance.

Proud of you Graham.

[nickdoyle-achievefinancial]

I agree completely on spending money on things you enjoy and cutting spending ruthlessly elsewhere. I've also found myself spending more money lately to save time, which I'm able to use for more enjoyable and/or productive activities. Agree with Graham on making sure it's sustainable. Most peoples' spending is beyond sustainable.

[dabeage]

You and you discussions on this this channel are a testament to how you got where you are...critics are quick to complain but slow to act...enough said. Keep on keepin' on, you are an inspiration.

[goldshredfitness]

Being smart with your finances is essential. Sacrifice now and you will be rewarded greatly in the future. Have a good rest of your day.

[StudyMusicProject]

"What's up you graham it's guys here"
Go ahead and like that smash button

[NinaThomas]

To be honestI, I used to scoff at people who spent so little like you. But I stayed subscribed because you are honestly so entertaining and I still feel like your way of thinking has slowly rubbed off of me in such a positive way. Though I would never want to be a 'financial minimalist' and buying the occasional new dress does genuinely bring me a lot of joy, I understand why you act the way you do now and plan to consider my purchases more carefully. You're so right, at the end of the day- money can give us freedom to have the jobs we want most and spend our time and thus our lives in a much more satisfying way.

[MJ-gejz]

Actually Graham is unconsciously saving his money for his future family. It's called generational wealth.

[bavan]

00:00 : What's up you Gram, It's Guys here.
00:26 : What's the point of saving so much money if you don't spend it?
03:33 : Money is just a tool.
03:53 : Money gives you the option to pursue what you enjoy the most.
04:44 : The real enjoyment doesn't come from buying things but from having the option to buy them if you want to - Graham 2020.
04:54 : Once you reach that state the desire to own things goes away.
05:13 : Extravagance purchases consume your time and gives you stress. Graham saves instead of spending and becomes more creative.
07:54 : Graham spends money to buy time, by hiring people to delegate tasks to.
08:48 : 1. Spend your money on Experiences.
09:01 : 2. Spend money with/on People.
09:21 : 3. Spend money on less expensive things.
09:55 : 4. Enjoy the journey towards your goal.
11:05 : Graham spends only what his investments make.

[InvestwithWesley]

This is exactly how I view money as well! It's not about having alot of zeros in your account it's about having the freedom and options to do things as you please!

[raymondcunanan]

Why are you so likeable Graham? A lot of youtubers are saying the same thoughts as yours but you are just so authentic and genuine . I guess that's what money can do as well, when you have options to not care at all about the revenue of the vid but to just give value and knowledge to your viewers, it will show . Because i can feel other financial youtubers wanting to just clickbait viewers for the sake of revenue 😅

[mikeem]

Ahh, that intimacy and personal nature I love about your older content back again in this video. And I will smash the like button for this one for it. You've mentioned all these points before and it doesn't surprise me that it needs repeating every now and again. But I definitely love having a reminder from someone other than myself as to why I'm saving and investing as much as I can and shrugging off those who pressure me to "treat myself".

[MaxTalks]

The "what's up Graham, it's guys here" has made a return 😂

[autumnx]

Glad you posted this video! I think it's important to recognize that you enjoy having an option to do things, that in itself is a love/passion? I'd always been frustrated with my mum, she's never had money and will likely never have it but as I grew older I realized that she just loves her job, she doesn't do it for the money, that's just the byproduct of the love and passion that she enjoys every single day, as long as the money she gets paid affords her a home and food I'm entirely certain that is all she'll ever need, what I worry for though still is as she gets older she may not be able to do that job whether she has money or not... There's a lot of people here who watch Graham and I love him too, but it's likely you came here for the money advice and that only works for some of you because you might have a different passion and likely will, make that your job, make that the time you use, not the job but the passion 💛

[BREEZYM]

Great video Graham. My first job paid around $5.35 an hour. This was back in the late 1980's. I still have the letter from the company stating that I was hired. You just bought a new house that cost a ton but you're saving a lot each month in the long run so I think you're being smart with your money. Your financial philosophies are something that more people should follow.

[NathansNostalgia]

Graham, you have achieved more than what most of us ever will, and we admire you for that. We also admire you because you are down to earth and sensible, despite your massive income. You are relatable because you want what we all want at the end of the day - time.

You have worked hard to achieve the means to buy back as much time as you want. Don’t waste it. We support you. You earned your time.

Thank you for continuing to inspire, and teach us all how to make the most of our money so that maybe we can buy back our time too!