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How I manage my personal finances as a minimalist.

  • ๐ŸŽฌ Video
  • โ„น๏ธ Description

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๐Ÿ’ฐ Additional Personal Finance References
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๐Ÿ’ฌ Comments on the video
Author

Recently I got into the youtube financial niche, and Iโ€™ve taken a deep dive into investing, particularly dividend growth investment as it interests me. Tried several methods trying to figure out the best approach to building my portfolio. So far, Iโ€™m making progress with the help of my financial advisor. Back to the video, wonderful job there, always look forward to your next content.

Author โ€” Felix .C. Olofsson

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I'm also a minimalist with my finaces; I have a minimal amount.

Author โ€” Sam Witcombe

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I can already see Graham Stephan licking his chops after seeing the video title

Author โ€” Elijah Orr

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Take it from Jay-Z, โ€œif you canโ€™t buy it twice, you canโ€™t afford itโ€

Author โ€” Gregรณrio Kotzias

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I don't know why I keep watching these USA based finance videos when I live in a European country where we don't have things like college debt, 401k and credit scores.

Author โ€” รlvaro N

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Basic personal finance:
โœ… Don't spend money you don't have i.e. if you can't pay in cash you can't buy it
โœ… Save a % of your income i.e. don't spend all you have
โœ… Focus on making more money instead of living frugally
โœ… Aim to have multiple sources of cash flow (at least 3)

Author โ€” Sebastian Lopez

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Takeaway: *The leather jacket was worth it.*

Author โ€” Sean Lei on Investing

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"Here is a quick recap"
Oh he is going to talk about the leather jacket again isn''t he?
Oh yeah there it is.

Author โ€” Kristoffer Lislegaard

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A really good video, choosing a simple lifestyle has really helped me a lot. I dont buy what I don't need or what would keep me losing more money, spending less has given me more room for investing.

Author โ€” Tion Wayne

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There are only three things in life that are certain - taxes, death and Matt D'Avella posting high quality videos.

Author โ€” Mariana Kaiser

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How I organize my personal finances
?
My salary is 350$ a month
The bills cost me
150$
I don't have a bank account
Greetings from Belgrade
Serbia

Author โ€” beast98 demon

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At first I read โ€œhow I manage my personal fianceesโ€

Author โ€” Francesco Schiavone

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Matt Dโ€™Avella is more educational in life than high school.

Author โ€” Rossy is a qt

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being German the thought of having those huge amounts of debt is really scary

Author โ€” Turquoise Summerbreeze

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I wish more youtubers would share their personal finances like Matt does. Iโ€™m also opening a vanguard Roth IRA

Author โ€” Alejandro Aguilar

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THAT PART. โ€œMost people take out a credit card to buy things they canโ€™t afford.โ€

Author โ€” MR. ASMR BOY

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Is anyone else freaked out that Matt isnโ€™t wearing a grey t-shirt?? ๐Ÿ˜ฑ๐Ÿ˜ฑ

Author โ€” Jonathon Carpenter

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This is the sleekest native advertisement I've seen in a while. Sneaky AF.

Author โ€” Hakim

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๐Ÿ“’ Summary:

๐Ÿ“• 1. Chase checking account:
Personal. He pays himself into this account and it's shared with Nat. No savings account, because the interest rates are so low.

๐Ÿ“— 2. Chase Sapphire Credit Account:
Coffee, groceries, books, technology, travel, and eating out.
Keep in mind: The average American millennial has $48889 in personal credit. A simple rule to combat this: Don't spend more than you earn. "And you can't do that if you're spending money that you don't have."

๐Ÿ“™ 3. Vanguard Roth IRK:
Trusted investment company, lower than average fees. You pay tax now and when you retire the funds are tax-free. Go for Low-Cost Mutual Funds. Nothing has changed in terms of investments for Matt since the global pandemic - invest for the long run. There is about a $6000 limit.

๐Ÿ“˜4. Vanguard Individual 401k:
He opened this with his business. Largely low-cost mutual funds, invested in stocks. Takeaway: Start investing when you're young.

Truthfully: Matt doesn't consider himself an expert in personal finance. But it can't be perfect. You need to be honest with yourself, do the research, and figure out what's going to work for you. The personal satisfaction found in taking care of your personal finance is immense. Don't let the fear of doing the wrong thing prevent you from doing anything.

๐Ÿ“’ Awesome!
I make similar videos to Matt's if you want to check them out. โ˜•๏ธ๐Ÿ’ป๐Ÿ’ช๐Ÿ“ˆ
Have a great day!

Author โ€” Chris Barnard

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"I use my credit card for small and big purchases". Well that clears that up :p

Author โ€” Awkward Atlas