A Minimalist Approach to Personal Finance

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  • ℹ️ Description

There’s a basic formula to win at personal finance. And it’s this… Make more money than you spend. In practice it’s not that easy. In the real world our money slips through our fingers. No matter how much we make our bank account seems to have its own agenda.

In this video I breakdown common myths, pressures & misconceptions about money and how to manage it.

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💬 Comments on the video

Hey everybody! I'm making a course on habit change (it's my first one and it's going to be awesome). There will be lots of videos, silly jokes, & most of all actionable steps to make any habit stick.

Author — Matt D'Avella


My father was born in 1926 and grew up during the Great Depression. He told me as a child, whenever he earned enough money from his paper route he would go to the bank and trade his change in for a dollar bill. When he got home from the bank he would borrow his mother’s clothing iron and carefully iron the dollar and then put it in a safe place to keep.

We were lower middle class growing up and I never had name brand anything; I didn’t even know what name brands were. My parents were savers, with 5 kids to feed and we wasted nothing. I remember my sisters making their own prom dresses with our mother. I remember riding with my father to the dairy farm to pick up milk with seven 1-gallon jugs. I remember planting our gardens in the spring.

My parents understood the value of a dollar and bequeathed that knowledge to me, for which I’m eternally grateful.

I’m 53 years old now and have lived below my means for my entire life. I’m proud to say I now have a net worth of nearly 1million dollars and expect to live comfortably in retirement. Not bad for a lower middle class kid starting with nothing.

Author — pstratt


1. Drop the stuck up competitive " friends"
2. Set real goals and do one step at a time
3. Just go do it and don't tell anyone until it's done

Author — Svetla Nikolova


My personal rule #1 is don't confuse what you want with what you truly need. It's amazing how much stuff never makes the cut when you do this.

Author — Weeper Man


Starting early is the best way of getting ahead to build wealth, It's such a pity most folks spend more and invest less while intelligent people always try to harness any investment opportunity not minding the risks involved.

Author — Jack Wyatt


Make as much money as possible. Spend as little as possible. Invest a lot of what is left. Repeat as often as possible, for as long as possible.

Author — Lughnerson


Let's not forget that the biggest payouts in the markets don't come from great performances but rather it's great promotions. Stay invested, diversification for streams of incomes is very important.

Author — Williams Smith


1. Make more money than you spend
2. Try to keep your spending low/predictable
3. Make sure to invest the difference of making and spending into three categories: Short-term (Emergency), Mid-term (Home, Car, Passive Income), Long-term (Retirement)
4. Set a goal to create a constant, passive income equal to your spending (either through investments or business)
5. Live a life that you want, making sure you're earning constantly.

Author — Saurabh Chakrabarty


It will take grace for financial literacy to be a norm, applauding my decision to start investing into the financial market earlier this year after facing the pandemic with no source of income to rely on. I am £ 17k in profits for this month I'm just glad I was bold enough

Author — Frank cooker


You deserve to be debt free”
You deserve NOT to live paycheck to paycheck”

Hats off to you, you’ve said it all !!!

In another one of your videos interviewing someone, I learned spending money on WHAT REALLY MATTERS TO YOU is so much healthier than spending money on everything. Live your life rather than a copy paste life.

Likewise, I learnt from your videos that it’s okay to spend less than you make but it’s also great to look for ways to expand your means, put it simply to find ways to earn more.

Last, if we truly value financial independence and all the substantive effects of it I’m certain we’ll find a way to get there and it may feel so so good ...

Author — Manos Koukourakis


"When you buy something, you are not paying it with money. You are paying with the hours of life you had to spend earning that money." José Mujica

Author — Nihal Dabi


Because of this channel I’ve had a different outlook on money and while I slip occasionally I’ve been embracing minimalism and books/audiobooks on personal finance. I have stocks now. A year ago I wouldn’t have any concept of it. Thanks Matt, keep up the good work

Author — HexagonSandwich


Understanding the necessities I need through minimalism and tying it with finance was one of the biggest realizations I've had!

Author — Arnold Gia


Since I'm paid an hourly wage, I think of the things I want to buy in terms of how many hours I have to spend at work. Certainly has helped cut out spending on things I don't really need or want. For the first time in my 30 years of living, I've got a modest but growing savings!

Author — Andrew


One way I convince myself out of buying something that I don't need is to calculate in my head how many hours I would have to work to pay for that item. When I think I have to work 5 hours to pay for those "cute" boots, I generally decide it's not worth it.

Author — Katherine Manrriquez


I LOVE that you admitted that there was something holding you back from your personal finances. This is SO true! Very often we decide to turn a blind eye towards the things that we know are too much to deal with, or the things we simply do not want to face. I did the same for several years after I graduated with my MBA and $50K in debt. But, I soon realized that unless I face this issue head on, I will be in for a long ride that would include paying an insane amount of money in interest and lost opportunity. I managed to pay off my student dent in only 7 years, all while working full time and supporting myself 100%, there was nobody to help. On my Youtube channel, I am sharing exactly how I did it.

Author — Lena Petrova, CPA - Finance, Accounting & Tax


This is the key to retiring early, it's the FIRE movement (Financial Independence Early Retirement)
I can talk about this all day and night, it coexists with minimalism so well, I hope to be able to share everything I learn on here just like you Matt!

Author — Zachary Laid


I totally agree with you. Being debt-free is very important especially for young adults. Procrastination is a time a killer.

Author — Modern Adulting


I became completely debt free this past June from beginning my journey after watching your videos and minimalism. Just came back to say thank you for the tips. It took almost 3 years, but if I hadn’t found you who knows how much longer it would have been

Author — Jay Eli


A really good video, I think ladies show watch these kinds of videos more. Material possessions cant guarantee you financial stability instead it takes from what you have, investing or learning a skill can ensure you a life of financial independence.

Author — Racheal Jones