Millionaire Reacts: Living on $25K A Year In Greater Baltimore | Millennial Money

welcome back to the graham stefan show my name is graham and welcome to my show and of course you guys have seen this episode coming it's no surprise every single time a millennial money episode post from cnbc i get at least i don't know a few dozen if not like a hundred messages like graham guess what the new millennial money just posted you see it graham did you see it's like yes yes i see it i have notifications turned on which means i see every single video cnbc make it post and today we got this episode it's called living on dollar sign to 5k a year in greater baltimore wait for it my favorite word in the entire world millennial money and i think it's great they're finally doing different income brackets i was expecting this to be on like a living on 250 000 a year in greater baltimore but no living on 25 000 a year so i think this is going to appeal to a much broader demographic and i'm excited to give it a shot my only complaint so far with this video is that you have not already smashed that like button for the youtube algorithm if you haven't done that already please do it helps out the algorithm tremendously which in turn helps me out so if you guys appreciate videos like this just make sure to tap that little like button with that said let's begin right here i saw the student loan hit 30 000 and at that point i didn't realize i needed to sit back and really think about what i want out of life what i want to achieve and what direction i want to go before i stack up another 30 40 000 student loan debt crazy it took him 30 thousand dollars to realize wait a second maybe this is a bad idea 30k 30k i guess some people have it way worse than that they're like 100k deep and they're like oh what did i do oh only set him back 30k geez but even then 30 thousand dollars is just i think it's so much for an education why youtube is free i like the youtube education youtube if you guys are watching this come out with your own college seriously come out with like a youtube academy something that teaches people how to how to do stuff how to deuce it could be called the youtube academy how to do stuff that's it now seriously if there could be some sort of online learning platform on youtube where people could get like actual degrees or even better employers can come out with their own curriculum of what they want their employees to learn and then if you want to go and work for a specific company it's like go through their degree platform or something like that that's what i think needs to happen at some point in youtube if you want to get in on this uh let me know i think it would be a fun project how he spends his money those are debit cards okay i see an ally bank there these are look at that that's a debit card i see right below that the purple one looks like ally bank that's good and then that looks like citibank uh i can't tell what i can't tell what those other ones are but i hope they're not debit i'm jerome gillespie i'm 23 years old i live in baltimore maryland and i make 25 000 a year so i'm a manager of a tax office and also i do uber and lyft the tax office oh that's not a word i like to hear the taxes gosh don't even get me started on taxes jeez the the taxes are are too high as that meme would say and tax off what does he do with the tax office this year since i was only doing pretty much taxes that kind of lowered my income because believe it or not i actually make more money doing uber and lyft a lot of the times and when i do doing taxes the tax season got extended so i was doing that more often but i really like doing taxes though because it gives me more knowledge or you know human capital so to speak so that can actually help me in my future more than probably you know doing uber lift can why is he not making more money doing taxes i think taxes are the most complicated things in the world it's it's so difficult to wrap your mind around that and if he understands that concept some of these tax people charge hundreds of dollars an hour you want to talk to them just up front 200 bucks talk to a tax professional really knows your stuff it's oh oh look at this he's reading the intelligent investor by uh benjamin wait for it graham great great last name i was living with my girlfriend at the time and her roommate didn't want me there so and to keep the peace i i really had nowhere else to go because i was waiting to move in with my brother i had to sleep in my uh 1993 firebird pontiac why didn't the friend want to stay there i want more info on that seriously something's up something's up there there's more to that story there's no way the girlfriend i don't think would be like hey sorry you can't stay here my roommate says no uh you know go sleep in your car there's more to that story there's more to the story i just don't know i don't know i just i feel bad like just stay at the place maybe the roommate was just maybe the roommate was a karen that's probably what what it was the roommate was a karen i didn't like having fun didn't like bending the rules a little bit that that's what i think maybe i was going to class i was working in the afternoons and i was sleeping in my car at night it gave me a wonderful opportunity to save money i love that that is an amazing shift in perspective there it's just hey it is what it is but guess what i was able to save money that's very true i think just having that mindset to find some sort of benefit in any situation i think is so important because what you might think right now is a setback you might look ten years from now and see like wow this is this is really transformative to happen to me and now i'm even better because of it and if i didn't have that experience i wouldn't be where i am today and i owe it to that you never know where things might lead in the future for better or for worse probably i meant to say uh for better for better not for worse for better another thing i did to save money was um i started eating once a day so at first i did this just to save money because i just didn't have a lot of money coming in and i was spending money on books and stuff like that and i wanted to save money up so i can get my own apartment get out the living room [Music] look at that i like how every sentence it just is like and i did that to save money and i did that to save money and i did this to save i love it this this is basically uh my my spirit animal a little bit like i did this save money i i've shown this before but like my all my keys on my computer like so you know all my keys are falling off the computer and uh i'm keeping it i'm keeping this computer i know i need a new computer at some point but guess what here's another key there's the e there's the e key that's falling apart but yeah it saves money doing this keeping keeping this computer with the keys falling apart can save money what i did with that money that i saved on food is i i started investing in stocks and etfs and stuff like that so that money started to grow so i wasn't just holding on to that money but i was growing that money and eventually i used that money that i that was growing to pay down debt and other stuff like that ah this guy's so smart this this guy is on it seriously he's gonna be making 100k a year in no time i don't really consider myself as a budgeter i don't really budget i just have a natural tendency to not want to spend money but as far as tracking things i do try to track all of my income and my expenses on like an income statement and then also i do a balance sheet at the end of every month ah i like everything he says is good everything he says is good look at this okay and honestly i'm really happy okay housing 823 dollars a month his share of rent electricity wi-fi fine okay food 200 a month that's fantastic phone 67 a month personal and business life that's fantastic misc 58 a month clothing personal care uh clothing in person yeah i guess it's pretty good books 40 a month great gym 40 a month perfect transportation 30 a month increases when he drives for uber lyft okay subscriptions 24 a month netflix and audible this is like honestly everyone should be just copying his budget i don't care if you make 25 grand a year or a million dollars a year if you just copy copy this he's not overspending and anything nothing it's perfect recently started categorizing my expenses and also i kind of tracked how much increase and decrease each of my asset categories and liability categories have grown over the course of the year and also track my savings rate look at this guys this is an example of what to do seriously i like he's making 25 000 a year and he's trying to save half of that half of that at 25 000 a year it goes to show you anyone who's making like 50 60 grand is like i can't save money yes you can it's like this is the perfect example of that seriously he's doing everything right every if anything he's doing better than right he's he's doing a 10 out of 10. it goes to anybody could save if they put their mind to it and they eat once or twice a day another thing that i started putting money into i mean it seemed like a wonderful deal i love making tax-free money so i decided just to put money in there [Music] those student loans i bet the student loans are at some high interest rate he's too smart just to withdraw the money to pay off like a three percent loan i bet those are high interest rate loans he knows what he's doing here but you know what my only question is if he used the link down below in the description and got his free stock from weeble because now they just upped it now you get a stock worth at minimum eight dollars worth all the way to one thousand six hundred dollars i wonder if he did that already and if you have not done that yet make sure to do that down below description it's a free stock so that means it costs you free that's right it's free zero dollars well the stock's eight dollars a minimum but it costs you zero dollars well technically you have to deposit a hundred dollars on the platform but uh you could just take that off if you want to in the future and now you have profit so there you go enjoy your free stock when i was in eighth grade i was diagnosed with uh with a heart condition that was potentially deadly and the doctor said that if you know if you exercise real hard you could die at any moment so i continued exercising hard to continue living my life the way that i wanted to live wait wait i'm so confused he what so if he exercises too hard it just i wouldn't if that were me and i was told that by a doctor i would just straight up to stop exercising i would exert myself as least as possible i would just i would have people carry me everywhere i need to go if i need to go to the kitchen macy just carry me that's it i'm not i'm not lifting a finger anymore i want to live terrible music in the background i just gotta say whoever's editing this listen listen to this music it's awful ready [Music] what are they thinking it's harder in the ears isn't it like like it almost like i get these little pinging sounds in my ear it's terrible [Music] i may go back to college i know uber has this program if you hit 3 000 rides music is too loud too over his talking so like whoever's editing this just a quick note here just a quick note here turn down the music a little bit and use something that's not so just abrupt on the ears ideally like like you know when the editing is good when you don't notice it being edited when you when those sort of things don't stand out to you you're doing a really good job and that's the key point for anyone who's ever editing including you jack the the the best editing occurs the best editing occurs and you just watch it straight through and you have no idea so music like this should be subtle it should be complementary to uh to this not just like this and my ear is just her bleeding i might go back for and try to get an accounting degree but other than that i'm not 100 100 sure it's very costly and i feel very confident in myself that i can build a good amount of wealth with or without a degree i don't think he needs a degree i i wouldn't go into accounting he's got such a good mindset i think he's got to be in business for himself doing something or another i just i i think he's got so much willpower to do things on his own i don't think he needs a degree that's just just my opinion maybe i'm wrong guys maybe i'm wrong but i don't i think he could do it on his own that's that's what i believe i am thanking myself every single day for that decision that i made to sleep on that couch to eat once a day to live that lifestyle so i don't have to live that lifestyle ever again perfect i have nothing bad to say i was expecting i could say something bad there's nothing he's doing everything right and it just goes to show you that again if he could save half of his income on 25 000 a year you could save half of your income no matter how much money you make seriously if he could do it anyone could find a way to do it perfect perfect episode was not expecting this and uh i love it absolutely love it and uh i was reading the comments someone says he has a youtube channel let's see what's his youtube why didn't he mention his youtube channel i did no way no way bro i didn't know this is you black veto moneyology bro you comment on every single one of my videos every single one of my videos for years now dude fantastic man i am so happy let's see okay here's a here's a bad story black veto is probably one of the most active commenters that i have had for like three years on my channel commented on almost every single one of my videos for three years that is fan that is fantastic i want why did they not mention your channel in the beginning that's amazing so i'm going to link your information down below in the description because cnbc make it did not include it well guess what i'm going to include it and here's the thing guys if you wouldn't mind as a favor for me this would mean a lot to me let's get him to 5 000 subscribers if we could do that that would make me very happy i'm going to link his information in the description and i'm sure he's going to comment on this and then he's going to be the pinned comment if you wouldn't mind just taking a split second going to his channel just subscribing to his channel we got to support this guy and uh i i'm so happy for him i think it's so cool congratulations man i think that's exciting and thank you so much for supporting my channel for such a long time uh that seriously thank you so much um how about this man i'll give you a thousand bucks wait um oh i got an idea hey i need audio whoops geez you hear me now yes hello yeah a little laggy what about now hey how's it going good okay i'm hoping this is gonna argue for me as well so i watched your episode of millennial money yes i saw that oh i didn't see that it's it's really good i've seen uh you've been commenting on the channel for how many years now i got i started my roth rape because i saw a video of you talking about your roth ira back in 2017 so it has to be at least about i might not have been commenting as much back then yeah but i definitely probably started around december 6 2017. wow man that's so cool yeah so i want to say as a thank you i want to do something for you i want to send you a thousand bucks but one condition you got to put it in your roth ira i can do that but i can't do that i've maxed out my roth ira this year i would have to wait until the end of the year fine do whatever you but i want to send you a thousand dollars it's just a thank you for supporting the channel and commenting on everything but wait there's more i also want to give you access to the mentorship group also for free and the real estate agent academy for free and the youtube did you buy the youtube twitter academy yeah about youtube academy all right then i'm going to find a way to refund you anyway what's uh how about this what's your do you have a venmo i have a cash app what is your cash tag your name and hashtag all right thanks so much man i really appreciate it you made my night all right man i'll see you soon all right see you soon so with that said you guys thank you so much for watching i really appreciate it as always make sure to subscribe hit the like button and notification bell also feel free to add me on instagram i post pretty much daily so if you want to be a part of it there feel free to add me there as on the podcast the iced coffee hour new episodes being posted every single sunday and lastly if you guys want a free stock from weevil use the link down below in the description and like i mentioned it's worth at minimum at minimum eight bucks there you go at minimum eight dollars and a maximum one thousand six hundred dollars if you want that free stock use the link down below thank you so much for watching and until next time terrible music in the background i just gotta say

Channel: The Graham Stephan Show

Views: 185,678

Rating: 4.9627786 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: qn5GoerDrMc

Length: 17min 32sec (1052 seconds)

Published: Sat Sep 12 2020