7 Pieces of Financial Advice That Changed My Life Forever

Over the years, I’ve been blessed to have countless positive influences in my life. Their example and their wisdom have shaped me in every way—including my financial practices

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You can read more tips in my book, The Minimalist Home.

Find Becoming Minimalist on Facebook, and Joshua Becker on Instagram and Twitter.

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Timestamps:

#becomingminimalist #finance

[bloominginthelight]

I really want to urge people, especially those who are young, to live on the one income. Buy a house on the one in one. Being a stay-at-home mom doesn’t just benefit me or the kids. It benefits my marriage in ways I cannot even enumerate, the list is so long. It’s the best choice I ever made.

This life is but w blink. You’ll never regret making a house a home, raising your kids, being fresh and vibrant for your spouse, and doing God’s Will through it all.

[Ridiculouslygoodatlife]

#1: 0:39 Don't overspend on too much house, car, or entertainment

#2: 1:40 At the start of marriage, live off of one income and save the other.

#3: 2:33 Always buy your cars with cash.

#4: 3:32 Set out a spending plan, not a budget plan, to figure out your monthly discretionary sum.

#5: 4:16 Make one extra monthly mortgage payment each year to pay it off 4-5 years sooner.

#6: 4:58 Never take a job just for the money. Factor in the money, but choose work that is more rewarding than the paycheck.

#7: 5:45 You are never too poor to give.

[starlightsky]

I’ve stopped spending on clothes and just wear from what I have, I mix and match, it’s helped me stop spending, it’s such a waste to keep buying new clothes.

[ritasmith]

I’m a 54 single no kids woman living in Melbourne Australia. Just before I turned 30, I bought a brand new 25k Toyota Corolla for cash that I am still driving that has just clocked over 200, 000 kilometres. She is still going....in the same month, I bought an old 100 yo house 4 kilometres from the cbd for $145, 000. It was so run down but it was home. Paid it off before I turned 40 and I saved for 8 years 200k to had to borrow 250k to rebuild and extend the house. I am now 73k ahead in my mortgage and have a house worth 1.6 million. I’m a social worker by trade. I plan to down size and retire at 60 all going well. I will also inherit approximately 2 million in cash and property from my parents. I would rather have my darling mum back than the money. Brings security and choices but life is horrible without my mum.

[janiceg]

A dollar spent is a dollar gone is how I remind myself to be intentional with my spending and a conscious consumer.

[EFlores]

Summary
1) too much house, too much car, too much entertainment
2) when you first get married live off of 1 income, the 2nd income save all the income
3) always buy cars with cash, save money monthly as you will pay but to yourself
4) every family should set out a spending plan; list monthly fix costs compared to monthly income
5) if you can make 1 extra monthly payment each year, you can pay it off 4-5 years earlier
6) never take a job just for the money, factor in the money
7) you are never too poor to give

[huizhongchangchang]

People confuse hardwork for perseverance, those two contrast

[kayc.]

I knew all this at 15. Am I ahead of the game? 20 yrs later: No debt!
Can splurge if I feel like it and my bank account never takes a hit.
It helps if your paranoid about finances.

[Swifftylady]

"Spending too much on home, car or entertainment" is what stood out the most to me. I must add, I thought you were going to say "food/consumables." However, some do dine for entertainment.

[Christinelife]

I did 2 jobs to get out of debt. Then I saved a bit of money after I got out of debt from the 2nd job. Now I only work one job, stay minimal and financially free

[juliehuntington]

This is my favorite video I’ve ever viewed on your channel. So much wisdom packed into this short video. I have an eighteen year old who needs to hear this. Thank you for sharing!

[lastofthefamous]

Solid gold advice Sir , my dad lived by these rules and passed them on to myself and my siblings , when I married my wife and I didn't have a holiday for two years , we paid our mortgage in twelve years and with the disposable income we have three foreign holidays a year. This method works !

[johnnyford]

He forgot number 8. Never loan money to family or friends that can't even pay their bills on time or at all. You will never be repaid from them.

[raphaeldouglas]

Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time.

[juancarrillo]

Dear Joshua. This is the first time I've watched a video from you, and I want to thank you for your clarity and quality to transmit the vital message applicable for everyone in the life, if he most of the people should have followed this pieces of advice the USA bubble never happened and many other big problems also. congratulations for this video.

[ganiyaibrahim]

Thank you very much .ive been struggling lately and your non-judgemental, matter of fact manner is much appreciated

[ATeacher]

Also build a healthy emergency savings account so when things happen, there’s cash in the bank.

[dsch]

Joshua, I’ve been following your blog and your posts for years. What an amazingly beautiful job you are doing for so many people. I cannot call myself a 100% minimalist, but I am trying to keep my home as clutter free as possible. There is a less fortunate family who takes all my old sweaters, books, houseware and every other week I bring them the stuff I don’t use or no longer use. So many things were given away. Last week I gave them my old suitcase - I bought a new one during my travels. And they were so pleased to have this suitcase because they needed one and could not buy one. The other thing is that I do not own a car. At all. And I am happy without it - no need for a garage, parking, I walk over 10, 000 steps every day. My city is convenient for just walking and there is good public transport. I sometimes wish my city was car free.. but anyway, a lot of things I am doing were influenced by your articles and videos. Thank you and God Bless you. Greetings from your fan in Russia.

[flomar]

I bought my car cash. So awesome to do this! It took 5 years to save, denied a lot of extras, but so worth it. Loved point about giving.

[erakkovaatainen]

I am glad I no more go to parties. I mean I still go once a year to some crazy Hardstyle parties, but every weekend to the club... no more. Even if you drink free water, tickets, food, traveling it all adds up and sleepless nights... If I want to party, I just drop some beats using my earphones listening the same music and exersice a bit as well. For the cost of earphones... It works well!