How I Save More Than 69.5% Of My Income - Financial Independence FIRE Movement

In this video, I break down how I save more than 69.5% of my income to potentially reach Financial Independence. I haven't officially decided that I want to pursue Financial Independence Retire Early (the FIRE Movement), but I know to accomplish this I need to at least save half my income.

If you're able to save more than 50% of your income, spend less in a few areas, invest more money, and make more money then you'll be on the path to achieving Financial Independence or even Early Retirement.

Even if you're able to save more money by doing half of the things I teach you then you'll be on your way to giving yourself a chance to increase your savings rate even more!

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Disclaimer: This video is for entertainment purposes only. Everyone's situation is different so do your own research before making any decisions with your money. If you need help then contact a Certified Financial Fiduciary before trying anything that is mentioned in this video. I prefer a Fiduciary financial advisor that charges an hourly fee as opposed to an ongoing fee based on a % of your portfolio. Always remember that incentives determine the type of advice they give you so one that charges an hourly fee is less likely to be problematic.

#moneysaving #firemovement #savingsrate

[JarradMorrow]

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[TheChosen]

People ask me why I am so happy. I tell them:
- I have no debt.
- I am financially independent.
- I can pay all my bills. I can pay my neighbor's bills, too.
- I have a lot of discretionary income.
- I don't need excessive items or purchases to fill some "void."


Life is great when most of my income stays in my pocket. 😊😊😊

[fpridgeway]

I saved 90% of my income every month last year, and this year. My condo and vehicle is paid off. Dude, you don't have to apologize for not having kids. Good for you bro.

[franchardlelo]

When I got my son I strangely enough gained super powers... Now i side hustle, became a minimalist, have a passive income, and save 65% of my income.. So in conclusion me having a kid was probably the best thing that could happen to me financially funny enough.... Sounds strange, but hey worked for me...

[redhatt]

As a guy in his 50's I can tell you, you are absolutely on the right track to financial independence. Keep it up and you'll be amazed at how quickly your wealth accumulates.

[ryanroberts]

I got three kids, a stay at home wife while the kids are tiny, and we are living off a 58k a year income..I started watching and reading Dave Ramsey material and it helped me kick start on saving money. I dont have a ton of wiggle room with the little ones running around, but just learning to live within your means and not trying to keep up with the Joneses makes me wealthier than a lot of Americans..I go to work in my 10yr old beater that I paid off 5 yrs ago and see all these people that make roughly the same income, with these nice cars etc...sometimes it discourages me, but then I think..I am actually wealthier than these other people. I got rid of my credit cards, because me and the wife were not using them correctly. Once we get smarter with our money I will go back to them, but until then..we need to dicipline!! Great video btw!

[hanbulban]

So true about mental health, depression makes you spend so much money

[SkinnyJennyVSG]

I save 73% of my income that is going to my mortgage and retirement. I will be 40 in 4 years with no house payments. I'm debt free and cheap as hell. LoL

[tonyasargent]

I love the avoiding having a child with the wrong person.

[jjbuckner]

Love the fact that you touched on if you have kids now, don’t let that stop you from making more money to increase your savings rate. Love that! Good stuff Jarrad

[chrisp]

I have four kids and gave you the thumbs up at the point where you pointed out not having kids makes a big difference. The reason this deserves a thumbs-up is because sometimes families are given the impression that they are the problem and that having kids should be their reason not their excuse.

[freedominabudget]

Intentionalist... YES!! That is 100% me! I’m definitely not a minimalist but definitely intentional with my money and purchases!

[MikeAffholder]

Lol the house next to my work went up for auction. I had to get it. Now my commute is 30 seconds.

[skywalker]

I did 39% in 2018! Going for 45% in 2019🤞🏽💯

[RC-xyeb]

I live in Los Angeles California and I’m saving 70% of my income! I am proof that whatever you live it is possible to save!

[cocobutterchin]

I am a single mother to one child that live with me full time, my place is paid off, no mortgage, no rent, all of my credit cards paid off and I am able to SAVE 70% of my INCOME.

[dkbegue]

Forget to mention also best thing for budget and health I meal prep for the week. Saves lots of money and is so much healthier

[MARI_G_]

"F O R E V E R!!🗣"- The Sandlot

[tonysteel]

These points are platinum! Currently I’m only able to reserve around 45% of my net income. I have literally captured tens-of-thousands since I’ve been single. And you’re so right, having children at a young age is a top tier wealth killer. I’ve realized this from experience. Fortunately, I don’t smoke or use recreational drugs; of which are too, extreme wealth killers. I stay in a one-bedroom apartment, just inside of a commercial district in Baltimore city. As you mentioned, I can buy many things, yet I only purchase exactly what I want at that time. This surely helps to detour any potential feelings of buyer’s remorse. I also use a Capitol One Quick Silver card for normal purchases and utilities. I earn hundreds of dollars annually with the 1.50% kickback. Another interesting way that I reserve cash is by telling others that I am broke. If they know you have it, when they’re in a crunch, their clutch will be the attempt to use you as an intentional financial crutch! Saving money is one of my all-time favorite hobbies! 💡

[consciousmoviereviews]

Jarrod: Here's my extreme savings plan that I've implemented. My husband agreed that if he pays the basic bills every month, which has been minimal living like yourself for the last two years, then whatever I make in my home-based business goes totally into savings. We pay a little more in taxes, but it's worth it to get ahead in a big way.

Also, a favorite tip I learned from a finance expert is that when his two college graduate sons came back to live with him in their basement, he made them max out their retirement savings plan every year. They now have more money than they know what to do with. And, when one of his sons brought in his girlfriend to live with them, he made her max out her retirement savings plan. It's either that or leave his home. On top of all that, when he was married to his former wife, he made her max out her retirement savings plan too and she's been so grateful, praising him to others that she was made to do that because she is in a better financial place because of it. So, that's the whole family! How rare is that?!