How To Live Free In An Increasingly Unfree World



Frugal vs Cheap

So i’ve kind of made some basic changes in my life to start saving money. Things like shutting off the lights when i’m not using them keeping my shower cold or room temp instead of hot, also just taking advantage of that running water and washing my clothes at the same time. Basically, anything i can do to be as efficient and multifunctional as possible. This was supposed to be a joke, but it kind of works, and now i don’t want to waste the food. So i’m wondering what that says about me, so i consider myself a very frugal person.

I have been cheap in the past and a lot of people ask gabe. Why do you do that? You’Re going to die at some point? Enjoy your life all these different things that i hear quite a lot uh, so i thought it would explain my mindset and how i got to be uh. The way that i am so we never really had a lot of money when i was growing up um when i was about 11, my dad started a commercial cleaning business and i started working for him because that’s what we needed to do to get by all Of us would go out there we’d work every night and that really changed my mindset about money.

I did that all the way up until a couple years ago, at different positions in the company uh, and i really learned from that – the value of money and also how much i don’t like working. So what can i do so that i don’t have to work? The rest of my life, especially back, then i would kind of look at money, a certain way where i wouldn’t want to go out and spend five dollars on a burger. Definitely not twenty dollars on a luxury uh dinner, because i would have to work two hours in order to spend that twenty dollars, because i was earning about ten dollars an hour. So it made me very, very cautious and really change my mindset so that whenever i see buying anything to this day, i still look at it as how many hours am i gon na have to work in order to get that, and would i work four hours.

Eight hours uh, you know half an hour in order to have that. Will it bring me that much joy? I do think i took that too extreme back then, because i remember like if we would go out to a restaurant i’d be like hey like. If i don’t order a drink here, can i have two dollars uh instead, like i didn’t have anything i wanted to spend the two dollars on i just i just wanted the two dollars or if we all went out to ice cream and be like, if i Don’T get ice cream? Can i have four bucks or you know whatever an ice cream cost?

So that’s just kind of how i always looked at money is like. I would rather have it for some reason. Uh. Even if i have no plans on spending it then then spend it on something that’s just gon na be over in like five minutes, because i don’t really care about that. So because i had this mindset, i was trying to see how little money i could spend, especially on the big expenses so like, for instance, the first car that i got was a like 2000.

I believe, honda, civic, that i bought for three thousand dollars cash. It was a really cheap, fuel-efficient car that didn’t really break down very reliable. I used that for years now i was like working day and night. So technically i could have afforded to buy a nicer car, but i think literally, if i had bought a new car and continued to buy new cars every five years, like a lot of people, do and had that 200 or 300 a month payment. Then i literally probably wouldn’t be here doing this.

I think that was uh, something that i was very lucky to not buy a new car, because that is a huge expense but anyways, i just kind of avoided any debt or any monthly payments. As long as i possibly could – and it’s still something that i do to this day now, eventually i started reading some financial books and that really started to change my mindset and i became even more cheap than i was before and, yes, i say cheap. I was not frugal, i went too far and i became cheap for me. Being frugal really means that i’m very calculated with how i spend my money and i’m extracting as much like joy and and value out of every single penny that i can as opposed to someone who is cheap and they’re just saving money. For the sake of saving money and honestly, i’ve teetered between both of those before, but i try to go more towards frugal and kind of get out of that scarcity.

Mindset where i just need to have as much stuff as i possibly can for no reason whatsoever to the point where i’m depriving myself and one of the things that actually made me really frugal was the idea of compound interest and how, if i saved five dollars Or ten dollars by being really frugal, that could be fifty dollars or a hundred dollars in ten years, and i realized that, like hey, if i don’t spend money for the next, you know three to five years i’ll be able to get some investments and those will Allow me to leave my job, so i started saving everything possible. Getting really really stringent, like literally pretty much everything i owned, was either from a thrift store or given to me, and it’s still like, as i look around the house, this couch given to me like, like practically everything in my home, was still was still like. A gift or free literally almost everything i might have a problem anyways. I i started to see some real benefits of saving money. I was saving up for a down payment and i got my first multi-unit when i was 22 and i wouldn’t have been able to do that.

If i wasn’t saving you know, 75 percent of my income and living off like absolutely nothing and some people graham uh, say that they save you know 99 of their income or whatever. But i was making like 40 50 000 a year like i wasn’t making that much and i was still living off like 8, 000 or 10 000 a year by you know, never shopping, never going out to eat, never ordering anything. Online no impulse buys nothing like that and then trying to optimize and of course i try to limit my subscriptions as much as possible, except for youtube, because they’re free so take advantage of this. This one-time offer right now throw in a set of steak, knives feel free to subscribe right now, and then i got to the point where honestly, like i couldn’t save any more money. I was already saving like 75 of my income and at a certain point you can’t cut anymore.

So that’s when i started to really shift my focus and look at income and that’s when things really took off. I started the youtube channel. I had other side projects. I was going on. I failed at a lot of them, but a couple of them that i stuck with became successful.

Of course, then i was working more than day and night. I had like four different jobs going on. At the same time, i’ve always kind of had multiple streams of income. I’Ve had multiple jobs going on throughout my entire life really, so i’ve always tried to save everything from one job and try to live off something from the other job. So right now i try to live off of just my rental income and then i have you know, youtube and some other projects that i do and all of that goes into savings.

For i don’t know what but uh i don’t know i’d rather just have it in case everything goes away and i need it. I do think there are some downsides when you take frugal living a little bit too far. For me, i know i missed out on taking some trips um things that i didn’t want to do, because there was that expense and it wasn’t like a huge expense, but uh. I do think i should have done that more when i was younger. You know tried to travel a little bit more, have some more experiences that way now that i do think this way, it’s hard for me to not think about it.

So, every time i spend money on anything i look at. How long is this going to take me to uh to work to earn this much money and then how much could this money have been? If i invested it uh, you know and it gained 10 a year for the next five ten years. I don’t know if that’s a healthy way of looking at it, but that’s how i look at every dollar that comes in and out of my bank account. I also think that you get actually a lot more value and excitement and joy kind of out of the idea of chasing something, but not actually, when you buy something when you buy something, you get excited it’s fun.

You have a little bit of joy, but then it kind of goes away and for me it’s more of the chase that is exciting and that’s why i’m such a big fan of delayed gratification delayed gratification is one of the things that i’m most passionate about, and That’S what i’ve been really focusing on in a ton of different areas in my life, if it’s not eating something, that’s junky, so that i can be healthy, where i’m not having as much fun now but i’ll feel better later or with not buying a new car. Like i want a tesla kind of, but i’m choosing not to buy it, even though i could buy it doesn’t mean that i should buy and a lot of people if they have the option to get something they just go out and spend the money right away. Uh and for me, it’s more important to have the option of buying it, but then not actually buying it, because uh most things i’ve bought in my life have not actually brought me that much joy or that much happiness. Of course, that doesn’t mean that you never should, or i never will buy anything, but i like to use things as rewards, so i wanted a desktop so that i could edit video do a little bit of a better job for you guys, but i kind of Gave myself a reward once i hit 50 000 subscribers, then i would get a desktop and it was really fun chasing that goal. It gives me something to look forward to and now i’ve kind of like set a goal for that tesla, where i want something cool um, but i know that i shouldn’t spend the money on getting it so once i hit 500 000 subscribers, then we’ll get a Tesla so feel free to subscribe.

But honestly i don’t know if i’ll ever actually get that tesla. The idea of chasing something and having a goal is much more exciting. Once i actually get there, i don’t know if i’ll get it or not, but having the idea and the reward there is just as much fun for me as having the thing itself. So i try to do that with with multiple areas of my life, where i try to incentivize myself to save money or to do better in whatever way. That’S what i got guys uh.

If you want some other frugal living videos, you can click here or here and i’ll see you in the next one.

As found on YouTube

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