Millionaire Reacts: How Much Money I Spend in a Week as a 25 Year Old Doctor | Ali Abdaal

welcome back to the graham stefan show my name is graham and welcome to my show and today guys i'm finally going to do it this has taken me no joke almost a year to make you guys have been asking me for almost 12 months straight graham go and react to this video graham did you see ali's video graham did you watch this video you should react to it fine we're gonna do it we're gonna make it happen today because i'm gonna be watching this video it's called how much i spend in a week as a 25 year old doctor wait for it ali abdul and i gotta say i like his channel a lot i've been watching his videos for quite some time now not every single one of them but look at this he's grown now to almost 1.3 million subscribers i remember when he was like 100k like below 100 000 i had seen his videos come up and all of his videos i gotta say are so well produced so with that said let's smash the like button let me do that in his video and bam oh i broke my computer i smashed the like button way too hard guys so make sure to smash that like button get your four free stocks down below in the description and with that said let's see how much ali spends as a 25 year old doctor i bet now he's probably 26 but anyway let's see how much he spends wait for it let's begin the video now cheers guys hey friends welcome back to the channel in this video i'm gonna be breaking down all of the money that i spend in a standard week so i'll be taking you through my daily expenditure at work and on food and everything and then we'll talk about all of my bills how much i pay for the mortgage how much i pay for all the various apps on my phone and my mac and my ipad and all that stuff i'll be breaking it down step by step and hopefully coming to a conclusion as to uh how much money i'm spending each week for whatever that's worth i'll be honest this is kind of a ridiculous video to make like why would anyone at all be interested in how much money i spend in a week honestly at this point it's hundreds of thousands if not uh close to a million people are interested in how much he has to spend in a week it's absurd but you know what i am one of those people i'm watching the video i watch all these videos because i find them interesting and i can react to them and i can make money off them so uh there we go so our journey kicks off last monday where i didn't have any patience to see in the morning and therefore i treated myself to breakfast at work and i got myself a croissant jam vegan sausage roll ketchup and a latte all for the cost of four pounds and 10p oh this is so much more difficult because it's in pounds like if that were dollars they'd be like wow four dollars that's pretty good uh let's see one pound equals uh a dollar thirty four so we take whatever he's spending so four dollars and ten cents multiply that by one time three four and that is five dollars and fifty cents it's not bad for what he's spending i mean here in la that would easily be like fifteen dollars so i mean could be worse and he's a doctor then after doing a bit of work seeing some patients saving some lives i got lunch at the hospital canteen as well and that was a vegetable lasagna with extra mixed veg and a portion of brussels sprouts for four pounds and 15 people this is all really cheap so wait is he getting this from work that's the only way there's got to be a cafeteria at his work where he could just go in and get food for really cheap this is not bad at 5 p.m i wanted a snack just before heading to the gym and therefore i got a cheese and tomato toasted panini from the restaurant for the cost of 2.45 and then after work i went to the gym had a cheeky spa session and then ended up having dinner at the gym and i got this salmon grill with sweet potato mash and some veg maybe spinach or kale or something like that on the side and that was 10 pounds 25. look at that imagine having food at the gym that's when you know you meet it like i had equinox for a while i canceled the membership but i had equinox for a while that was like 300 and something dollars a month i mean it was ridiculous for how much i spent on that but they don't even serve you dinner like that they have like this one juice place that was like kind of attached to it but it was like 12 juices it's a ripoff there's no way i'm ever going to do that this seems like a nice gym that evening i had a singing lesson from 8 45 until 9 30 and that cost me 30 pounds and overall i did about 76 miles of driving to and from work that day and at a cost of around 132p per liter of diesel wow thirty dollars just singing lessons i hope he sings to something in this video but uh what what is this uh 132 p a liter i failed my math class guys i i can't i can't convert that uh how many miles per gallon couldn't tell you couldn't tell you on that and overall i did about 76 miles of driving to and from work that day and at a cost of around 132 p per liter of diesel and my car does about 45 miles to the gallon that is a cost of 1017p therefore on monday my total expenditure was 61 pounds and 12p is this fun shall we keep continuing why not oh look i like how he does the conversion top 79 uh not the best but you know what considering that thirty dollars that was a singing lesson and uh 30 pounds and 10 pounds of that was fuel or i said or as we call it in the u.s gas it's not it's not terrible it's not bad so next we've got tuesday and on tuesday i got a medium latte from starbucks on my way to work and that was three pound fifty-five he could have just made that at home that kept me full so i didn't need to buy breakfast at work but i ended up having lunch at work and i got a very healthy tuna and cheese melt toasty with chips and two sachets of ketchup for four pound 20. yeah they're feeding these doctors well at work that's the thing that's the thing they want these people to perform at tip top shape and that way more people survive so i think it's good that he is well nourished later that day i realized that i didn't actually bring my ipad charger with me so i had to go down to the hospital like grocery store and buy like a usbc charging cable for 12 pound 99 absolutely rip off but it had to be done ah that sucks yeah those charging cables are really worth like three bucks maybe four dollars max they charge you so much because they know you need it it's like selling water to people in the desert who are dehydrated like you're gonna pay whatever it takes same thing with these cables and again there was about 18 miles of driving so that's about 11 pounds of fuel spending a lot of fuel why do you have to fill up twice like one on monday one on tuesday that's too much so overall on tuesday i spent a total of 70 pounds and 66p which for the americans or international people amongst us is about 93 dollars and 30 cents on wednesday again i got a starbucks small latte this time on the way to work and that was three pounds and 15p i didn't need to spend any money at all on breakfast or lunch because we had this special simulation training day the hospital and lunch was provided which was fantastic but in light of that on the way home i got another starbucks small latte i think two starbucks that's too much too much especially for the small it's like four dollars for a little small thing of coffee he could have gotten uh like 20 20 centis coffees for that same price just a waste of money look how tiny that is and that evening i treated myself to a takeaway from gbk this was the camembert and cranberry chicken burger for 11 pounds 20 and i bought a side of halloumi bites which was four pounds and 20. oh that looks good look at how relaxing that is i gotta say there's sometimes there's nothing more relaxing just getting food eating in bed watching a good youtube video and that's it just not not a worry or a stress in the world and look at his he's got birds on his uh on his comforter it's just nice that's relaxing so overall on wednesday i spent 43 pounds at 87p which is 57.91 on thursday for breakfast i actually had to be hule uh which is really tasty and about three pounds per meal i love by the way how this is just designed and the uh the set and how he puts the spending on the left hand side like this and how he tallies it up everything about this video so far from an aesthetic standpoint i love it like i'm going to take editing and style cues from him because this video is that good i kid you not and then i was teaching physiology at one of the cambridge colleges that evening so i bought some snacks for my students on route to the supervision and that was eight pounds and seven p worth of snacks and in total that day i drove around 14.6 miles to get to this college and back again so that was one pound and 92 p worth of fuel which brings us to a total for thursday for 24 pounds and 19p you know what i think it's i think it's his accent that makes makes him sound so smart like everything he says i j i can't get angry at it like if he's spending starbucks because it just it sounds like just so well thought out like everything he's doing and it's the accent it's the accent it's throwing me off a lot on friday i bought myself a starbucks oats milk latte small latte on the way to work for three pounds fifteen and then me and my brother were driving up to the cotswolds which is this like national park in the uk to spend the weekend with some friends and so that evening i got a vegan burger from kfc in total we ended up driving 135 miles and that's a fuel cost of 18 pounds and 40 and the airbnb cottage that we got was about 24.50 per person per night so let's add that on bringing us to a total of a friday of 63 pounds and 97p which is 84.46 it's not terrible i want to know how much he's making though i bet he's making bank maybe we could find a video like that shortly let's see then we've got the weekend so on saturday morning we went out for breakfast in some nice like hipster looking cafe in this like nearby this fancy cottage that we were living in breakfast was pretty good i got myself this hash potato avocado tomato egg type thing along with an earl grey tea for a total of 10 pounds ah you know what uh ali if you want to come on the podcast i'm just thinking about this now whenever it's safe to travel again if you want to come on the podcast the iced coffee hour i'm sure we can talk personal finance for hours i could already tell we're going to hit it off bringing us to a total for saturday of 69 pounds in 10p or 91.24 cents and finally on sunday for breakfast we went out to this other cafe i got i got a veggie bank robber meal for 7.95 i got some extra halloumi on the side for one pound 50 and a 12 ounce latte for 2 pounds 80 bringing the total cost of breakfast to 12 pounds and 25. you know what all this breakfast looks so fancy again in la this this stuff is all like 22 22 in los angeles it just goes to show la is so overpriced so overpriced you could go to any other area it's like instantly 40 less which brings us to a total of 34 pounds in 28 p or 45.26 so that was what i spend on a day-to-day basis but i also want to talk about all my various other fixed costs like the mortgage bills broadband council tax all this kind of stuff and also all of the money that's spent on apps but before i do so you might be wondering how i've got the money to afford these like ridiculous coffees and lunches and like trips and all this kind of stuff the main reason for that is because i'm a doctor and i can buy whatever i want because i'm a doctor and i make a lot of money because i'm a doctor you know who else is a doctor ben shapiro's wife she's a doctor too if you didn't know all right so now let's talk about the various life maintenance expenses that i've got so the mortgage that i pay is about 1 250 pounds per month and then on top of that we've got about 200 pounds a month in terms of ground rent and maintenance fees which is what you pay when you live in an apartment building like this one thankfully the fact that i'm living with a housemate who pays me rent is really good because the rent that she pays covers the interest on the mortgage and it also covers the ground rent and maintenance cost so essentially the money that i pay each month is pure principle yeah so this amount that we're seeing is a bit deceptive here 1250 mortgage 200 maintenance uh he's it's all profit for him at this point congratulations that that's what you should do everyone should strive to do this next we've got council tax which is 90 pounds per month which is quite a lot which comes out to 22.50 a week oh council tax not like a property tax they call it a council tax it sounds so much more formal over there like oh we got the council tax guys here it's like uh you got property tax due ah i don't wanna pay property tax we've got my gym membership which which i share with my housemate and we pay 90 pounds a month each for that gym membership 90 90 oh spending a lot on the gym i can't talk but i cancelled my gym membership so uh it's it's he's he's definitely putting a premium on that gym but that's okay it's quite a fancy gym it's got like a spa and stuff and it's a it's quite a lot to be spending on a gym but i personally think it's totally worth it and the way i justified it to myself was you know why wouldn't you value your health and you know being like being a member of a fancy gym encourages me to go to the gym more and i think that's going to be worth it in the long run yep yep same i agree with that when i was spending uh got i think like 10 a day for equinox i went i went to the gym six days a week that was my thing and i definitely got my money's worth on that broadband for high speed internet it costs 60 pounds a month so that's 15 pounds a week the water bill is about 15 pounds a month so 3 pounds 75 per week my car insurance is unfortunately about 700 pounds per year and on average over the last like five years it's cost me about a thousand pounds a year to like various maintenance costs of the car like servicing and repairs and stuff so a thousand pounds a year comes to 19 pounds and 20 p per week so the total weekly cost of lifestyle maintenance is 102 pounds and 66p i like how he calls that lifestyle maintenance like that's his living expenses there 102 sorry 102 p per week no mortgage rent not bad and finally let's talk about all of the different apps that i spend so we've got 15 apps on this list these are the ones that i can remember i did a search on my computer so firstly we've got day one which is a journaling app that costs 22.49 a year or 43 p a week we've got tinder gold which is 41 pounds and 99 p per year or 80 p per week tinder gold wow uh jack let's let's let's splurge get the get the tinder gold jack we've got hinge premium which is 27 pounds 49 for every six months which comes out to one pound and five p per week oh wow this guy is definitely taking his dating very very seriously to pay for hinge premium and tinder gold wow wonder how that's working he doesn't need that at this point you can just make a video and just say like hey taking applications who's interested uh send send your application your resume to this email address you can sift through them start going on dates he doesn't he doesn't need this stuff anymore it's just a youtube channel just title the video finding my soulmate episode one and then and then just bring the dates on for future videos and then you monetize it so even if the date goes horrible uh at least at the end of the day throw that up on youtube make a few hundred bucks you win everyone wins and so the total cost of apps is 18 pounds and 70p per week wow that's a lot he's doing a lot of note-taking apps i don't know what the advantages of doing so many of them unless he's doing it to review i would say from all of this like adobe a spotify i'd say that's worth it youtube premium that could be worth it uh some of these you could probably narrow down if you really needed to but 20 bucks 25 a week it's still that that's a lot i would say that's a lot now there's a few things in this that surprised me firstly i was surprised at just how much it comes to in total like even if we exclude the mortgage thing 488.50 a week that's basically 500 pounds a week and if there's four weeks in a month it's about 2 000 pounds a month that i'm spending just just to survive with the sort of quality of life that i have and the scary thing is that my post-tax income from being a doctor recently has been about 1900 pounds a month yeah but here's the thing he's 25 he's probably doing residency right now or he's doing uh some sort of uh medical training i bet by the time he's 35 he's going to be making 400 000 pounds a year and plus he's got the youtube channel that's got to be making like at least at least uh five to eight thousand pounds a month i'm guessing realistically he's probably making more like fifteen thousand pounds a month from his youtube channel that's what i think i spent 23 pounds and 30p this week on buying tea and coffee out but to be honest i get a lot of pleasure you know when you drive an hour to and from work like stopping off at starbucks at the halfway point to get myself a small oatmeal grate is one of the one of the things in life that i really enjoy you know i'm listening to podcasts on audiobook on the drive to work and i get my latte and then i sip it while i'm driving to work it's just such a nice thing and i wouldn't want to give that up for just three pounds ah but you know what here's the thing sometimes you could just have the same enjoyment just making your own coffee at home you could pull off to the side of the road pretend to buy something from starbucks and then just take your coffee out you made it at home it's the same thing then sip on it save you some money same thing and i've read a lot of books about personal finance seen a lot of videos about it and i really like a guy called ramit sethi's approach to this and his idea is that you don't need to cut out your lattes to save money because if you make the big decisions good like if you reduce the interest rate on your mortgage or if you make more money or if you get a pay rise these are huge decisions that really contribute massively to your bottom line whereas cutting out a three pound and three pound latte here and there really doesn't actually contribute much especially if that's the sort of thing that you enjoy and i definitely do enjoy spending money on coffee okay so here's just a quick counter argument on that because i agree if we're going to be looking mathematically what's going to make the most sense yes cutting out the biggest expenses is going to make the biggest difference and uh no you know what you know what the truth is honestly is that a lot of the times you spending three bucks here and there in starbucks it's not gonna break the bank but i do believe that it's those small little things like when you pay attention to the starbucks you're more likely to pay attention to let's say you're going out to dinner and then when you think about what you're spending at dinner you're more likely to think about how are you saving money in your car insurance and because of that you're more likely to think of what you're doing at your mortgage so it trickles up i think when you get the small little basics down like that it translates to every other area versus if you're wasteful in some of the small areas that tends to infect and translate over to all the other areas so like logically he's correct but i think psychologically for a lot of people it's those little small things that do make a difference i never really calculated how much money i spend on petrol fuel diesel um and it cost me like 11 pounds a day just to get to work and back and so on average at work if i'm making 80 to 100 pounds a day like 11 of that pounds is going away on the fact that i have to get to work and then while i'm at work i spend about 15 pounds on food and coffee so that goes and then once you include tax and things then there's a lot a lot of expenses that i've got just by virtue of the fact that i'm going to work yeah that's the kind of sucky thing there is that he's going to work to pay to go to work he's not really making much after tax and everything like that but he will as a doctor he's going to make so much money and then he could be like a doctor mike on youtube and have millions of subscribers and make just bank i'm more of a fan of the you know like if you care about personal finance then it's a lot easier easier it's a lot more effective i think to just earn more money by doing other things rather than to cut down on these little expenses but hey maybe i'll make some more videos on that so thank you very much for watching hope you have a lovely evening all right wow great video um i see why people wanted me to watch this because it's great he's so smart at everything he does he's so well spoken i i really don't have any complaints because i know like i could tell him like hey money i bet he's making bank let's see how much money we could figure out he's making he is making guys from youtube just based on ad revenue not including sponsorships 38 000 a month from his youtube channel plus let's throw in another i don't know 5 000 for sponsorship he's probably making about we'll call it half a million a year safely from youtube videos plus what he's making from working as a doctor plus what he's making from his other businesses this guy is making bank i would not be surprised to pretty soon he's making like over a million dollars a year so for him to spend like three thousand dollars a month even let's call it four thousand dollars a month and he's making a million dollars a year he's spending like five percent of his income he's saving 95 percent of it i love that so i i got to say everything he's doing is fantastic he's making a decent amount of money his channel is growing he produces really good content absolutely no complaints i like this episode a lot and ali if you want to come on the podcast the iced coffee hour whenever it's safe to travel i'm going to extend the invite to you and i hope you take us up on that and would be fun and i will buy you and you know actually you know what i'll make you some coffee how's that so with that said you guys thank you so much for watching i really appreciate it as always make sure to destroy the subscribe button like button and notification bell also feel free to add me on instagram my posts are pretty much daily so if you want to be a part of it there feel free to add me there as in the podcast the iced coffee hour new episodes being posted every single sunday and finally if you guys want four free stocks use the link down below in the description and weeble's gonna be giving you four free stocks we need to deposit 100 on the platform with those stocks potentially worth all the way to 1 600 so if you want the stocks link is down below let me know which socks you get thank you so much for watching and until next time

Channel: The Graham Stephan Show

Views: 805,140

Rating: 4.9132562 out of 5

Keywords: investing, investing for beginners, how to invest, how to invest in your 20s, how to invest in stocks, how to invest in real estate, how to save money, how to save money fast, how to be a millionaire, best stock trading apps, stock market investing, stock market investing for beginners, investing 101, real estate investing, robinhood, how to build wealth, how to build wealth fast, passive income, millionaire reacts, what i spend in a week, millennial money, watching ads

Id: j5Az2spHIww

Length: 19min 48sec (1188 seconds)

Published: Thu Dec 24 2020