How I Saved $100,000 By 24

I was looking at my finances recently and I realized I saved over 100k. So, I want to look back at all the things I’ve done since I got my first ever job when I was 16 to see how I was able to do it. Hopefully from that, you’ll learn from my experience.

Also, something I forgot to mention in this video: I don’t have any student loan debt from my time studying mechanical engineering at the University of Waterloo. That’s because I was frugal with the money I made during my co-op/internships, so I could use it to pay for my university tuition. Plus, I applied to a ton of grants and bursaries that helped tremendously! Timestamps are as follows:

00:00 Intro
00:44 Car Finesse
02:41 Reduce House Expenses
03:25 Save on Big Expenses, Not Small
04:15 Reduce Food Expenses
04:49 Keeping My iPhone
05:57 No Alcohol/Drugs
06:32 Negotiating My Salary
07:25 Side Hustles
09:15 Make More Money
10:22 Beware of Lifestyle Creep
11:18 Never Buy Things on Sale
12:11 Look for Positive ROI
12:25 Use Credit Cards
13:02 The 2-Day Rule
13:18 Avoid After Pay
13:54 Never Live Paycheck to Paycheck
14:18 My Money Rules of Thumb

My Engineering Notes to Prepare for Technical Interviews:

MY SOCIAL MEDIA:

ABOUT ME:
My name is Tamer Shaheen and I am a recent mechanical engineering graduate from the University of Waterloo, currently working as a Mechanical Design Engineer. I like to make videos about university/college, engineering, and personal development. Thank you so much for watching!

[bro...]

DUDE U deserve my respect for being this transparent

[wasir]

My man made me watch a commercial about chairs and I completely watched it. You deserve it bro.

[ReussirSonProjetEtudesAuCanada]

Tamer you have no idea how much you literally influenced my journey as a mechatronics engineering student at the university of Waterloo. It was through your video that I learned I could ask for grants and not taking the loan from OSAP. I did that and I’m debt free so far (3rd year student). Always lived with roommates for the past 3 years even though I could be renting by myself. Have had the same iPhone 11 Pro since my first year in 2020. It’s surprising how little things, habits make great results. Thanks for sharing your experience.

[divyangvaidya]

It really helps that Tamer had no loans to pay back. This contributed greatly.

[younesmekraldi]

Tamer thank you for this video akhi it’s great that you saved 100k by now just don’t forget zakat

[UniqueHybrid_]

That 2 day rule, Ima say is what I use also. Whenever I decide I want to buy something somewhat expensive, I legit take days to process it out if I really want to buy it. This works. I saved money doing this for sure.

[samatarMohamed]

This is actually a great video. Saving 50% of your income may be hard at some level but at least 25-30% should be good.

[JB-dvew]

Dude crushing it! I saved 140k by 30. I have an iPhone 11 and the paint is falling off my car. Increasing your net-worth ain't pretty but I sure do sleep well at night.

[hamza_ME_]

Yesterday, I got my first job as a mechanical design engineer as a fresh mechanical engineer.
One of my main sources of inspiration is you, Tamer.
Keep up the good work.

[Delan]

Tamer thanks a lot for the great advice. I’m in college right now and l never thought about saving money this way . When l finish college l will use implement this to save money . Thank you again

[randommota]

Keep up the consistent content Tamer. Always informative as usual!!

[redtaylorsversion]

So hyped to see you post... amazing video as per usual!

[almiqdadali]

May Allah grant you as much or more of the value you bring to people in your videos.❤️

Thank you from an Engineering student all the way from Qatar University.😅

[SireScrubsalot]

I have a feeling ill know and agree with all this info but imma watch anyways cause u tha goat

[lifevoicez]

man i wish there was a channel like these for architecture

[normalguy_]

Ay my boy improved the ad acting😂 ! I really liked it keep it up brother .👍🏽👍🏽the smile was the cherry on top 😂

[shatakshipandey]

Been using my phone since 4 years. It's in perfect shape and I can use it even longer.

[epq]

Dayumm, im 22 still in school feeling behind 🤦🏾‍♂️

[PTRK]

Another good way to save money when it comes to phones is to buy from Apple's refurbished store. They offer the same warranty as they do for their brand new iPhones and it costs a bit less. They're refurbished by apple so the products on the store have been repaired to essentially new condition

[goldenn]

Nice video. Can you make a video on finding jobs/internships for students with no experience. Thank you in advance 🙏