How to Live Within Your Means (Without Feeling Cheap) | Phil Town

Answer this question: Are you living within your means? Can you be saving more money for investing? Let me know where you're at. Also if you want to get better at saving money, check out my FREE 14-Day Financially Fit Challenge! http://bit.ly/2aTH6qj

What do you do with funds in the 401ks? It has such limited choices.

Investing 25% to 401(k)
Then Maxing Out My Roth IRA

Done this over the past two years
Age 24
Retirement accounts are up to $75k

I started investing at 17 now im 50 and mult millionaire people meet my think im poor lol i dont need new cars i still live old little house they dont get it thats how i was able to become rich

Well said Phil. Back in Feb, I was so close to buying a car, and thanks god I didn't

Nice sir

I have 30% taken out to pay myself first. But I'm playing catch up in my 40s. Also moving somewhere less expensive where I'll save over 50% for a couple years to really hit it hard. Then I'll be caught up! ?

I'm glad I found the teachings of people like Phil and also Dave Ramsey. I started cutting half of my paycheck, living on one half and attacking my debt with the other half. Car's paid off in 2 months (1.5 yrs earlier than scheduled. Never again) and debt free in 11 months. I want to start investing as soon as possible so I got a second job to catch up on the years I didn't. Thanks Phil.

Thank you sir for life changing advice….thank you sir….

If you buy things you don't need you'll soon sell things you do need.

I had a friend who decided to buy a 35k used camaro. I told him not to gp, but it was his money.

(Un)fortunately for him, it got stolen and stripped of parts. It quickly got him a car within his means. He's still making payments tho. :/

Well life is short…

Sir, I thank you for all your wonderful videos. As you have said in this video, I have from last 8 months started putting aside a little more than 50 % of the monthly interest I get on my fixed deposits, as I don't have a job, into monthly Recurring Deposits savings right on the 1st of every month. As I get the interest on the very last date of every month. Then with the remaining amount I spend for all my monthly essential expenses, and from the leftover, for some non essentials. I spend almost all my leftover money only on eatables, as I love eating, and don't have the self discipline to resist it. Please kindly let me know your thoughts and opinions on these things. Thank you in advance.

hello sir! if we have a lot of debt do we attack the debt first and then save…

I live in Sweden in a small apartment by myself, I’m 23 years old and I’m so greatful for the education and information you’re sharing with us. I live as minimalistic as I can and I can invest about 40% of my yearly income. I don’t tell you this to brag, I just want you to understand that like Phil are saying, the new iPhone won’t make you any happier, neither will that fancy home or the 3 year old car. Invest, make a budget, live minimalistic and you Will feel more freedom than you Ever had before. Big shoutout to Phil.

Did you get stung by a BEE?

Nice….

You may know investing, however using the owners of wal mart as sn example Stating that they the mart family got joy out of helping OTHERS. Is a lie, the mart family are Self Serving and their business practices are about shorting pay to their suppkiers and worse their employees the Backbone of their operations.

Minimalism saves my ass.
Currently moving into a tiny apartment, (plan to for the long run) and smash them savings once my income spikes. x)

Americans buy ego, live off debt, then retire poor

One of the best videos on YouTube!

I bought a new car for me that was 6, years old with less than 60 k miles. The prior car was 15 years old and had 157k miles. I needed something more reliable. But my payment is low enough that I don't spend more than I make other than the car. Zero debt. No credit cards. Just car payment and lot rent. The mobile home is paid off.

This buy a nice car and a better vacation when you're 60 is nonsense. You have to live your life when you're young not when you're 65, after 4 surgeries and in diapers – if you even make it that far. The trick is to buy things on sale. Wait until seasons change and buy your clothes for pennies, buy a slightly used car that someone foreclosed on for half price, learn to maintain it yourself and save thousands, buy a slightly damaged car and fix it yourself, get the flagship phone 2 years later when they're on eBay for 100 bucks. Buy a 5 star vacation last minute for a fifth of the price. You see where I'm going with this.

I didn’t go out to eat at one restaurant for the whole weekend! Not one!

I wish my father or mother taught me that when I came to usa 9 years ago when a I was 20 years old but they are just so ignorant about a lot of important stuff that sometimes, I wonder how I made it to my 20 year old alive

Thank You Sarge..or Sir..

Dont buy a new car..but buy my book instead…its a cleverly designed sales pitch folks. This guy just wants your money. That's why he doesn't want you buying a car.

Eat beans and rice for your whole life. Buy a cheap home in a bad neighborhood. Maybe if you dont die you'll retire a millionaire. Then you'll get to spend it on medical Bill's.

i think your coment is so so…life is short,la…Dun worry bout money…n money cant bring into grave when u die…you wan to save soo much for what…? Maybe u dun like luxury cars but others does…Wat i wan to said here is…in a comtemporary world, we dont use the word"Save Money", we use HEDGE Money?…There are many ways to do so…Drive n eat watever we want because we are no more young and enjoy life…

Just have to much to do in your live

I don't understand when people call cars "sexy", it's not like you can have sex with a car.

4000 a year? May be 40?

Guess that new Tesla is off the list… for now.

u r looks tired 🙂 look at ur eyes 😀 , but hey thanks for ur video, very usefull

Glad I was brought up poor in Europe to install in me the importance of liquid funds. Cash is King!

What to do when you have so much kapital that your salary bearly makes any difference in the portfolio?

I am a college student, and I am not living within my means.