How I Save 50% Of My Income (NZ)

It’s not how much you earn, it’s how much you keep!

Here are four tips which have allowed me to save approximately 50% of my (fairly modest) income over the past 12-months.

If you’re in your 20’s like me and have few financial responsibilities, then you’re in one of the greatest times you’ll ever have to save a TON of cash and build your investments.

Take advantage of it!

Recommended Investing Books:
Rule One by Phil Town:

Payback Time by Phil Town:

The Intelligent Investor by Ben Graham:

The Dhandho Investor by Mohnish Pabrai:

The Education of a Value Investor by Guy Spier:

Recommended Personal Finance/Entrepreneurship Books:
Rich Dad, Poor Dad by Robert Kiyosaki:

Tools of Titans by Tim Ferriss:

Disclaimer:
I am not a financial adviser. This video is for education and entertainment purposes only. Seek professional help before making any investment decisions.

[tuaropati]

Damn bro, wish i learnt about this when i was in my early 20s, im now 34 with 4 kids and... well working hard, living off paycheque to paycheque. When i was 18 my branch manager insisted i invest my money in shares as i work for Mainfreight, damn i wish i listened instead i was all about the nice cars, shiny mages and bass for sound systems.... your videos have helped me, started investing on August 2019 :) keep it up bro, your videos mean alot to me and d family man...

[axeltech]

Yessir! Indeed i told myself to live like a high school kid at the age of 25 and i managed to save with that tip alone. Basicallly avoiding spending, eating out, avoiding drinks etc.❤

[eslernie]

Great video, something I wish to add is that health is a person’s biggest asset, without good health you can’t go to work and you start to have medical expenses in the long term. Look after yourself buying proper foods and staying active with a reasonable gym membership - always invest in your health.

[MySweetLuck]

Avoid lifestyle creep. Love that. Love your book recommendations. The Dhandho Investor is phenomenal. Great video you earned a sub

[snowsansa]

About car, we do indulge now as we are mortgage free. We manage to become mortgage free for being frugal, have only 1 kid that we can afford to feed, work both full time, I work night shift, hubby works day shift so we don't need to pay childcare. We look after our son 50/50. Now Mortgage free life is a little bit relax. Time to pamper ourselves. And I don't work night shift anymore since becoming mortgage free.

[thomasbowden]

Great tips, ones I also live by, me and my wife have just saved up 200k over 4 years living frugally, increasing our income (getting better jobs) but keeping our budget the same. The next step is now to invest!

[pfnz]

Great video once again! Although I think with little expenses there is potentially more saving opportunity. I know it's cliche but I reckon not drinking bought coffee most days can actually save you a good chunk of cash. I think most people think pretty carefully about their big ongoing expenses and not so much about impulse purchases that really add up.

[InvestingwithTom]

Which of these principles do you think is the most powerful?

[ViviT]

Thank you for educating me on what I can do to be alil more money savy

[haileyiscool]

im gonna do this now while im still young....

[siggiAg]

It’s vital to earn as much money as one possible can - then savings become easy as pie. What i mean by savings, is saving 40-65% of your income (if higher then its way easier). Remarkably, i did it get this until i started working 2 jobs and thus getting higher income. Currently working on having at least 100k invested in stocks and by paying down my mortgage way early. Earnings and earnings-power over one’s lifetime is key.

[james]

Ive got automatic payments from my main chequing account, the day after i get paid. One payment goes to a savings for fun stuff like for festivals or holidays, one is for savings for money I may need on hand, ie im saving for a car, and the other goes straight to my sharsies to be invested. I use to basically bleed money until i heard the pay yourself first advice.

[mitchietekanawa]

Thanks so much for your videos, I really need help on investment😊

[touch]

The first method is the very same plan I saw on Oprah way back around 1990 I think and boy does it work. She had it explained a little different but same thing. We saved 60K in a very short period of time approx 2 years from memory. Sadly we went away from it and I wish we didn't. There was also the credit card savings plan.

[luispaz]

Great video, Thanks Tom. For me the most powerful would be a combination of living frugally with saving all that excess cash. But im afraid that might only be acomplished once debt is under control. What do you think?

[vcythandle]

high interest account ?? is that a thing ??

[shanechee]

Where would you suggest being the best places for compounding interest in Nz bro?

[touch]

Tom just reminded me, 'Setting a Goal' Now I think about it, that is why we went away from the plan. We reached the 60K Goal and din't set another one after that.

[KhanhTran-bmrn]

the video image is too poor, you need to fix it more

[mcrekkr]

Life style creep is my biggest issue... I'm a competitive archer so I tell people I'm a poor man playing a rich man's game but I'm also a musician so money pits are everywhere for me...