Why I Stopped Spending Money

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[DannySully]

“Do not save what is left after spending; instead spend what is left after saving.”

- Warren Buffett, critical quote for times like this

[theroomnumber]

I was in rigorous saving mode last few years so I can buy a house. One thing that comes with saving is the fear when the savings go down. The more you have, more you are afraid to lose. This year though, I spent my money on travel, to see my family, and so on. It lowered my "saving" acct balance but invaluable to the richness and quality of my life. Find a balance between saving and living.

[Jeanalife]

Being good with your money is life changing. My husband and I was able to buy a brand new house with low payments making less than 60k together at the time due to have much we super saved. We are also debt free.

[jyywkww]

I don’t like spending money. When I see the digits decrease in my accounts. It feels like my power level goes down.

[boreddude]

I believe that there is a fine balance between spending and saving money. It is important to save as much as you can, especially early on. However, you need to enjoy your life aswell. That 1000 dollars you spend on a vacation will give you memories that last longer than your money. Everyone’s centre of gravity is different.

[andrewcleverly]

Most people are so poor that all they have is money, invest some of it no matter how small, when you invest you are buying a day that you don't have to work.

[TheBusinessGuy]

Example:
Warren Buffett paid $31, 500 for a house in Omaha in 1958 and has lived there ever since.

[ricky]

No matter how often he covers this subject, I enjoy it. Thanks for what you do graham. I prefer this 1000% more than clickbait doom videos. Liked and shared.

[nicestuOnline]

I don't earn a high income but find I outsave many of my higher earning friends. I came to understand after many years that whereas I buy what I "need", they buy what the can "afford". If we were to go purchase the same thing. I would go through all the requirements I need, then find the best "value" option (not necessarily the cheapest, more often then not I would buy a good brand on sale) whereas my friend would look at the very best available, way beyond their actual need, then calculate if they can afford it (often meaning if they can make the credit crd repayments) and buy the best they can afford. The different mindset I have found has made a huge difference in our ability to build wealth.

[subarume]

"When you can reasonably afford things the desire to own them goes away". This has proven so true for me. I'm not rich but I can pretty much afford the things I used to want only to have lost interest.

[stevec]

Wisdom. I agree. When the last recession wiped me out...I knew a change in habits was vital. Ever since, with cash savings (to do many things) at my disposal, I realize just how little I want/need to actually do those things. I get great comfort from the sense of security I now enjoy. Like you just said: having the 'option' to do something provides much of the satisfaction I now have.

[funlightfactory]

This reminds me of that teacher and janitor that made low wages their whole life and died with millions of dollars in their account. They lived frugally.

[bertblocker]

Love how you said that buying things is not what makes you happy but having the option to. its the peace of mind knowing that if you wanted to it you could.

[pjones]

Picking up my Chick-fil-A and the kid asked if it was “Graham Stephan?!?” I was watching while waiting in line.
You’re making inroads, brother. Keep up the great work!

[exitpath]

I never invested before watching your channel. I hated living paycheck to paycheck and the depressing feeling like I would never have a way out sapped all my motivation to work or do anything. Now I have more money then I've ever had and that continues to be the case every month as I save more and more money I will always be grateful for you Graham for being here and you 100% deserve your success.

[theshadowless]

This is one of the best videos you have posted so far, IMO. In this day and age, most Americans need to change their preception on money in order to have money. Saving has always been the backbone of building wealth, but most tend to think that comsuming more to look rich is the way to go.

[Matthew_Murray]

My relationship to savings has change quite a bit in the last few years. I use to have reasons I saved up money like if I wanted a new computer or something, which isn’t really saving more like delayed spending.

However now I actually save money just because I enjoy it. It’s almost like a game. I like the feeling seeing my saving account and investments slowly grow.

[RS-pvnf]

“I’m thrifty” Says the guy with a Lotus supercar in his office.

[deltellspodcast]

Im so glad you made this video. so many people out here are too focused with looking rich instead of building towards something. no matter what brand you throw on to show off you are not being paid to wear that clothe. its just money coming out of your pocket.

people just need to get realistic about money and hearing it from the rich i think is the most impactful. so thank you for making this video.

[future]

I get saving and living below ones means but just because something isn't a financial asset doesn't mean it has no value. Experiences, health, perspective, travel etc have value