Millionaire Reacts: What I Spend in a Week in LA as a 25 Year Old *1 YEAR LATER* | Morgan Yates

welcome back to the graham stefan show my name is graeme and welcome to my show and i gotta say you know this was not a video that i was expecting to make but i am oddly looking forward to it now here's a bit of a backstory here of what's going on about five months ago i made a video titled millionaire reacts what i spend in a month of quarantine millennial money and this was me reacting to a video by morgan yates on how she spent her money and she spent a lot of money but now it's come to my attention that she has a response she has an update that she made three months ago that i somehow missed so today is my opportunity to go and watch her update see what she has to say about her money spending actions and watch this video it's titled what i spend in a week as a 25 year old one year later wait for it morgan yates millennial money so let's go ahead let's do our part to smash the like button let's get our four free stocks down below in the description we deposit a hundred dollars in weeble because that's pretty much free money so if you want free money go and use that link down below and with that said let's see her update one year later let's go first i'm gonna share my predictions so one thing i have noticed over the past six months of you know the changing world there are a few categories that i know aren't gonna be present in this week's spending um just like areas of my life that i was spending a lot on before that now i'm not and i can think of two big ones that actually do add up first of all my workout classes previously i had the hardest time motivating myself to work out at home i truly didn't really work out at home i was only really working out when i was going to rumble and those classes were 32 each workout classes are so expensive they milk it they milk it because they know if you don't have the motivation to go and do this on your own at home then you have the motivation to pay a lot of money just to get a workout in so they know it it's expensive but i think it's money well spent honestly i think fitness and health is one of those few areas where i think you get a better roi just by living longer like think about it if you live an extra five years think of all the money you could make in those extra five years think about all that compound interest for an extra five years at the end of your life that'll pay for the workout class probably 10 times over that is one area i've been saving a lot of money and then a secondary one but definitely isn't as much but that again does add up throughout the course of like a year and that is getting my nails done that is something that i was doing every like two to three weeks basically as soon as i needed it that was probably after tip and everything a good like 40-ish dollar there's going to be people very angry at me for saying this comments but i feel like it's not it's not hard to do it yourself and this comes from someone who's never done it but how hard could it be just do it yourself 10 bucks uh nail nail polish scoot it on you know get a sharpie get a cool sharpie in your spare time done no one would tell the difference so jumping on in to day one it was september 1st it was a tuesday on this day i went to a little co-working space it's outdoors in hollywood filmed a video there on that day of sharing 20 things i've learned from traveling but basically that was just a big work day they have a free little barista coffee set up there so i got a little ice latte oh that looks nice and expensive i'm gonna guess that iced latte has got to be like 650 in a co-working space like that 6.50 let's see hey that was free i did postmates that up there so i got a little iced latte that was free it was free it was free wow that looks nice let's zoom in jack let's zoom in on that drink looks like it's got a nice rim on that good good ice to coffee ratio good color consistency i improve i did postmate lunch because i was there all day literally until they closed and didn't bring food with me and like an idiot so i spent 50 dollars and 23 cents on a sweet green salad oh yeah you know shelby church did that i called her out for it sweet greens is so expensive they charge like 12 to 15 for a little salad the same sort of salads you could get from trader joe's pre-made for like 2.99 sweet greens charges you 15 because they put it together for you it's not like in a package already it's someone there just it's like a chipotle of salads basically it's like good food just too expensive for what it is which is crazy for a salad salad was only 10 or 11 and then plus tip so so that was that i also did pay my rent this day since it was the first of the month basically my total ramp for the entire month is a little over 1400 but broken down by day yeah it's not bad honestly she's making enough to pay 1400 in rent i think she has roommates at this place uh decent on rent she gets a pass from me on that one very random thing i purchased on this day that i have been using i think it's hopefully going to be a worthwhile use unless i forget about it i bought an app which i don't i have not bought an app honestly in probably a year but one of you guys actually told me recently about this five minute journal that i love i have like a physical copy of it but some of you guys let me know that there's actually an app for that so i thought you know let's see and i bought the app and it cost me 5.33 so yeah that's something you could do on your notes that's what i always do i i don't get some of these like journal softwares for your iphone everything i do just iphone open notes take a little note down there just do something there easy easy easy easy and that's free there you go i saved you five dollars and 33 cents that you could invest over the next 60 years at a 7 compound interest rate with dividends reinvested now that's going to be worth 70 in the future so there you go enjoy your 70 in the future and then lastly still on day one i actually placed an order at urban outfitters my online shopping is way way way way cut back from how it was back more towards the beginning quarantine but i placed an order um actually to get two of these little seamless ribbed tops i love these i just got another black one and another right one they're cropped because i truly wear these i would say like five days out of the week i dress these up i wear them around the house i'm just wearing sweatpants right now ah sweatpants guess what i'm wearing now i've i've worn these sweatpants i kid you not for like two weeks straight uh it's bad i actually actually wore legitimate pants uh one day last week but got this as a gift for christmas they're uh like like cool like forest green oh yeah look at the socks forest green sweatpants from h m uh amazing amazing amazing sorry battery died okay if anyone ever wonders what to get me it's uh sweatpants hoodies or really anything from h m eat that stuff up not literally but you know what i mean so tax and shipping this came out to be 40 and 37 cents two of those for 40 bucks h m has those for like 2.99 3.99 so that's like some really low price i guarantee she overspent on that 40 for those which brings my day one spending to 408 dollars and 60 cents starting off high again that we did have rent yeah see rent takes up most of that though but still 40 bucks plus lunch and it adds up for day two wednesday i just worked from home on this day that morning adrian and i drove over to beverly hills to get coffee at my favorite place alfred it's definitely not essential alfred's coffee again that is one of those places in l.a just just to bring you guys up to speed uh imagine starbucks okay now imagine a starbucks in beverly hills now imagine a boutique starbucks in beverly hills that you go for the vibe and for the people watching uh they charge you no joke it's like six dollars like a little thing of coffee like the espressos are like seven dollars like a little thing it's so expensive for everything they have but it's like designer coffee at a boutique coffee place apparently it's it's so much money um and they always have like rolls royces parked out in front too crazy it's a crazy place i used to have a really big like getting coffee out postmate and coffee like pretty much every day that was a habit thankfully i broke that at some point this year i found a really great iced coffee that i just drink at home iced coffee you drink at home could it be the 20 cent iced coffee like i mentioned guys i'm actually coming out with my own 20 cent iced coffee i wish i could tell you more about this because i'm so excited to just like just launch it but uh unfortunately i can't we're setting it up right now should be by the end of the month and i will have my own uh graham stefan branded 20 cent iced coffee so that that's the next step guys and she i'll send morgan if you're watching this i will send you my coffee i'll send it to you you just let me know what you honestly think of it how's that and i just got both of our coffee it came out to be 12 and 36 cents it took a little all right see so six dollars each for coffee it's it they don't is that a coffee yeah that's a coffee too much money too much mine mine would be way less than that per serving little instagram photo there uh nice instagram plug jack we should plug my instagram gp stefan and while you're at it jack if you want to plug yours if you actually go and post editing like i asked you jack you don't do that that's what i've been telling him to do on his instagram for months now uh so the deal is i'll promote his instagram if he posts the editing clips you just gotta post the editing clip so people get a behind the scenes look so just go and follow him and then send him a message be like jack post the edit where the editing clips jack i want to see this so thanks we buy each other things i feel like in the grand scheme of things it evens out like we'll venmo each other sometimes sometimes we don't it's not the biggest deal oh yeah i'd keep big track of that it'd be like okay so i bought dinner this night and it was this much so now i expect in return i want this dinner paid for at this amount plus interest i'm getting kidding guys that was a joke that was actually it for my spending for wednesday so that's our total day three thursday on this day i needed to stock up on some groceries i had not been grocery shopping in a while if you saw last week's trader joe's haul then you actually saw everything i bought for this amount wow imagine posting videos on your trader joe's haul that again pays for the trader joe's whatever you buy you show it in a video the video makes enough money to pay for the groceries youtube is an amazing amazing platform i gotta say let my groceries come out so we at 53.88 yeah okay so 50 something dollars let's find trader joe's hall type in morgan yates trader joe's oh let's see all right 43 000 views guaranteed 43 000 views that likely made uh at the very worst 215 bucks on the low end so she paid for groceries times four good investment good investment at trader joe's oh and while i was at target this was really not essential and it was a mistake because i'm supposed to be going vegan for the month and i accidentally i was drawn in you know starbucks they have their fall drinks now i saw the pumpkin cream cold brew it spoke to me it called me i was there next thing i was i had it all before realizing that that is not vegan like that thought just left my mind what i had to do with vegan like oh i want to go vegan oh look at the steak that that's a good steak okay wait that has nothing to do with being vegan oh well the steak was good those starbucks drinks man they're good i gotta say i tried one of their uh i had a gift card guys i had a gift card and i tried the uh sweet cream nitro cold brew i mean some some crazy drink like that with a gift card it was free uh it was good but i spent five bucks on that no but if if it's free i liked it it was good regardless so i added four dollars and 35 cents and then later that night i just made dinner from home and made some yummy cauliflower tacos with the groceries i just got and that brought thursday's spending total to 71.42 it could be worse could be worse but not not the best friday kicking it off we had another just like reoccurring expense it was my dropbox subscription i paid 11.99 a month for i don't know it's like two terabytes of storage or something like that worth it i like dropbox a lot and uh i use them they're great no complaints good good expense good company too to uh invest i i do like dropbox i actually went back to target because there were two things i didn't realize i needed yet i was out of advil and i also ran out of hand soap in my bathroom and that is essential so for those two items alone it came out to be 20 and 35 cents and then a friday night for dinner me and shelby my next-door neighbor we went out to dinner at a place called aoc in west hollywood it was bomb in addition to the food i had a couple glasses of wine so that came out to be a hundred and two dollars whoa 102 imagine just going out with your friend boom 100 bucks gone gone she could have invested it she could have invested it guys um i mean if that's like maybe like a once a month sort of deal again not the end of the world she should probably just make a video on it good collab with shelby church something like that you know 100k views it'll pay for itself um just vlog everything at this point which is a lot for one meal but i feel like the occasional like nice dinner is really my favorite form of like entertainment one of my joys in life so so my spending total for friday come out to be 134.34 and then saturday we are in a heat wave in l.a so me and my roommate mallory just went to the beach all day later in the evening we came back my roommates and i do kind of have like a habit of after beach day coming home and post meeting dinner and playing board games outside it's kind of our summer saturday activities that we've had going on for a while you know here's the thing it's like she says it's okay to do this every now and then but the problem is that every day she has one of these every now and then sort of deals like every now and then go into a nice dinner every now and then postmate food after the beach every now and then order drinks with me and the friends every now and then buy a new car like just like stuff like this just adds up get a lot of every now and then i did post paint dinner about to be at 21.50 i got these delicious vegan tacos and they were bo um it does look pretty good and 21 bucks is not the end of it it's not not bad so yeah that included again the tip and everything as well if you want to get free postmate credit i'll have on screen my code if you want some postman credit i get some postman credit yeah that was it for saturday 21.50 see look at that see she's getting this stuff for free she's an expert plugger you gotta hand it to her she's like she's got affiliate links to her nails uh get trader joe's gift cards uh stuff like great phenomenal you know what i have uh i have a door dash link i'll put that down below if you guys want to get door dash i think i get like a 10 credit for doordash so if you want that uh you want free stocks weeble link down below in the description uh amazon affiliate link you could buy stuff um my venmo is down below in the description you can just send me i'm kidding then on to sunday i made a mistake on this day and that was not checking the weather and going to an outdoor activity on this day my roommate mallory and i went to melrose trading post i bought a pair of sunglasses that were 10.95 cents i've never been someone to really spend a lot on sunglasses i have like one pair of ray-bans yeah actually the only pair of sunglasses that i wear right now i got for free i found them in a rental car i was in a rental car and uh driving around and just there they were sitting there and uh i looked them up by the way they were like seven dollar sunglasses so it's not like someone just lost like a gucci pair or anything like that and this is years ago it was like worth like seven bucks but they fit me really well it's like you know what i'm just gonna keep wearing these and to this day i've worn the same sunglasses for free i spent 13.88 cents on both of us getting a little like it's like a moroccan mint tea lemonade type thing so spinning on sunday came out to be at 24.83 and then lastly monday labor day on this day i filled up my car i truly don't fill up my car like too often at all i probably have not filled it up in the last month honestly maybe longer most places i drive are within like a mile or two of my house why a mile or two get a scooter get one of like those little cool scooters instead those are so much fun you'll save so much money on a car payment insurance gas all that stuff just a little scooter perfect and then i also spent 34.99 that day at this restaurant in marina del rey i like rarely go over there it's so pretty it's like just overlooking the marina one of my best friends from college was in town so we just met up there for lunch and to catch up see again this is another one of those like every now and then my best friend collins in town this place by the marina on the beach i've given her a hard time but really it's not that bad my guess is like 45 bucks my total for monday was 89.92 and that brings our total for the week to 750 and 61 cents i feel pretty good about this i feel neutral about it so thirty nine thousand dollars a year i mean i've given her a hard time here it's honestly not that bad and i i'm like 99 she makes significantly more than that so if we look at her spending in proportion to how much she's making uh my guess she's probably she's probably pulling in at least like 150 a year i'm maybe 120 150 i'm guessing so to spend 20 30 percent of her it's not that bad she's actually doing a fairly decent job um so let's let's keep going i can't ignore the obvious expenses that could have been eliminated of that if we take away rent and just look at like the act of additional spending i came out to 369.60 and then i did kind of some itemizing here and my essential spending so like groceries gas the dropbox the hand soap and the advil kind of like essential items that came out to 154.34 and then i added up my food spinning elective food came out to 204.31 cents so that's not including groceries so that's just forever the area that i'm spending the most in yeah so it's like 800 a month basically is what she's spending eating out that i would say is too high you could probably get that down to like 450 500 bucks it might be uh doable given that some of this is like seeing friends and this and that but uh i try to get that down a few hundred dollars a month and then just use that max out max out some retirement go and invest that money that that's what i think nt if you've made it to this point in the video i think i'm actually moving and my rent is going to be going up we are getting serious about like the postmates has got to go that literally has just got to go yeah so that's my spinning for this week but yeah i hope you guys enjoyed a deeper look okay so overall let me give my uh my thoughts on this it's it's not terrible i think the only thing from all of this is just i agree with our postmates eating out too much that's about it but a hundred dollars of that was just a one-time outing uh with your friend so if she just cuts that back a little bit she should be okay i just want to see how much she's spending relative to how much she's making i want to see instead what i make in a week as a 25 year old one year later wait for it millennial money i want to see that i wanna see how much she's making go down every income source add it all up and then see what her spending is relative to that because again if she's making like 12 000 a month what she's spending here doesn't matter at all if she's if she's making 3 000 a month then i would be very concerned but i have a feeling she's doing well she's making enough and overall i do think it's it's a big improvement from the first time we saw this video and uh yeah honestly my biggest complaint is really just food but besides that i think she's doing a great job and morgan if you want to come on the iced coffee hour and uh just chat and talk about it just let us know reach out to us and yeah we'll find a way to make that happen so with that said you guys thank you so much for watching i really appreciate it as always make sure to destroy the like button subscribe button and notification bell also feel free to add me on instagram i posted 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 those four free stocks use that link down below in the description and weeble is going to be giving you four free stocks when you deposit a hundred dollars on the platform with those stocks potentially worth all the way up to 1 600 so it's pretty much like free money if you guys like free money may as well use that down below let me know which stocks you get thank you so much for watching and until next time

Channel: The Graham Stephan Show

Views: 316,873

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: BUTjk7pt7Wg

Length: 18min 58sec (1138 seconds)

Published: Thu Jan 07 2021