How To Start Saving Money In Your 20’s

How To Start Saving Money In Your 20’s

Today, we’re talking about something so important
but most people do not want to talk about. We’re going to talk about how to save money. But I’m going to take it a step beyond. And I’m going to be sharing the 3 faces today
of how you can go from being a tight saver to literally having anything you could ever
want. Check it out. I was forced to be a saver in my early 20’s. I just started attending college a year later,
I married the woman of my dreams. And we had debt. I’ve got a fulltime job and she also had a
job and we we’re doing our best to balance everything. But more importantly, we’re trying to avoid
going into student loan debt. So, having a job to pay for college and being
a full-time student, that was stressful to say the least. We were not successful. We did not make enough money to be able to
pay for all the bills. My wife just didn’t feel comfortable with
like government debt. So, we use credit cards instead. And we got to the point where had $8,700 of
credit card debt. I remember I freaked out. I’m like, “Okay, I’ve got to become one of
the world’s best savers.” And my wife and I, we developed this thing
called KPPPM. Stood for Kalen’s Parent’s Penny Pinchers
Month. They were notorious penny pinchers when they
got first married. And we we’re inspired said, “Hey, right now,
if we keep going into debt, we wont be able to afford the payments on our debt. And it doesn’t matter how much money we make,
we’ll never get out of debt.” So, we were so worried and scared that we
went… Fear drove me to become an amazing saver in
the beginning of my marriage. Because getting out of debt become a really
high priority so it wouldn’t over take us. If you’ve ever been on debt before, it’s not
a good feeling. And there’s a certain amount of debt that
you can afford and pay for. But there’s a point which it’s just too much
and you can’t afford the payments. And then it just avalanches all over you. So, I became a saver out in necessity. But I want to share with you strategy that
I use to get myself out of debt. And it wasn’t saving. Because I couldn’t save enough money to get
my self out of debt. I was going to have to try something different. Today, I hope that what I am about to share
will inspire you not just to become a great saver. But really to save for specific purpose. And that purpose is this: In life, you can
be a saver, you can be a spender or you can be an investor. And the reality is that all 3 of them are
important. The spender is maybe the more materialistic
person that just wants to splurge and live it up today. And they want to buy themselves drinks and
they want to go partying and they want the nicer car and they want the nicer house and
the nicer clothes. And they just want it all now. And that’s the spender persona. On the opposite extreme, you have the saver. The saver is so good at cutting corners and
saving on hear and their money. And at the end of the day, they don’t have
a lot a fun in life. The tend to be a little bit more crotchety,
a little bit of a over attentive. But you know what? They’ve got something that spender doesn’t. They have money because they don’t spend money. And then, you have one other key persona. This is the investor. The investor is the person that realizes I
will never save enough money to get where I want to go. And if I want to be a spender someday, like
if I want to enjoy the nicer things in life, how am I going to get my self there? I’m going to need to invest. Now, the investor, the spender and the saver
are all important. And there’s a proper sequence that you should
be emphasizing during 3 different phases of your life. You at your age right now, if you haven’t
accomplished a lot financially, check it out, figure out which phase you’re supposed to
be. And let me show you how I in 4 years went
from, being financially poor in debt to moving into a ten thousand square foot home and living
the lifestyle dreams of my life. Okay, the first phase, this is what I call
living check to check. And when you’re living check to check, it’s
really important that you’re doing things in the proper order. And this is what it looks like. The first priority is on saving. The next priority is on investing. And then the last priority is on spending
of which you should probably do very, very little. And if you can actually make this your pattern,
then being saver so that you can invest is what you’ll do to get yourself out of check
to check bind. Once you’ve been able to actually accumulate
some money, your going to go into 2 different phase. This is phase 2. This is called the investment snowball. I’m going to call it S-ball. The investment snowball essentially means
that you now have enough savings that you’re not panicking. You can sleep well at night. But you accumulated enough money that your
new focus is right here. Your investing first. Everything is about investment. It’s not a nicer car. It’s not a nicer house. You’re saying, I’ll have all those things
down the road. I’ve got to become an amazing investor now. And then after you invest, you’re going to
replenish and add even more into your savings. And then you’re going to be able to do some
spending. This is the period where you’re actually taking
a little bit and you’re turning it into a lot. In real estate, I double my money every 5
years. When I start using other people’s money, it
becomes exponential returns or infinite. It’s freaking wild. If you can go through these 2 phases, you’re
going to love this last one. Phase 3 is now called the privileged life. And with the privileged life, this one looks
a little bit different. Here’s spending was the last priority. Here, the spending was the last priority. But now, spending gets to be a first priority. You now can live in the house of your choice. You can drive the car of your choice. You can get a private jet. For some of you that really take this to the
extreme. But the bottom line is there’s a lot more
travel and there’s a lot more fun. Now, by the way, do not ever equate spending
with fun. You should learn how to have some fun here
that doesn’t require lots of spending. Some fun here doesn’t require that doesn’t
require a lot of spending. Now, phase 3, the privileged life is may investment
is paying everything I want. So, guess what? Now, I’m going to spend and I also have the
ability to continue to continue investing. And I also have the ability to save some money. The orders get reversed. I wanted to show you this today, because here’s
what I hope you walk away with. I hope you understand that there’s a time
for your day in the sun. To be out and play, to be tossed up in the
beach, to be travelling the world and yo be living at large. But when you do it when you had little in
the beginning,, then you’ll never sustain at long term. Basically, you’re going to live it, you’re
going to enjoy it a little bit and then it’s going to be gone. For this plan to work, you have to become
a master of investing. And when I wrote this book, The Straight Path
To Real Estate Wealth… I’ve written several books but this is the
one that I want to get out to you and put your hands so much so that the book is actually
free. I’ve paid for it. I’ve paid for it’s printing and this is a
road map to making your first and several millions of dollars. I asked that you cover the shipping on it. So, if you click the link below, the book
is otherwise free and yours. But the reason why I put all this together
is because I want you to have it all. And for you to have it all, for you to live
life on your terms. To live that addage of being with you want,
when you want, who you want. Living how you want. You can have all of that. But you see there’s a way and an order in
which life needs to be lived. And then in the beginning, it’s really important
that you learn that it’s not about having it all in the beginning. You got to learn how to have it all here and
have it all here. You focus on getting your joy and your excitement
out of the things that have an intrinsic value instead of external value. And so, you don’t have to live in a nicer
house to feel more abundant inside. You learn how to be happy with what you got. You learn how to be happy with a smaller life,
a simpler car or taking even public transportation. Doing that and putting all that money towards
investing will give you a time in your life when you can also say, “Hey, now we don’t
feel just joy internally. I’m glad that I trained that.” But now, I got to feel it… I get to add to it externally because I am
travelling around the world. I’m spending time with more of my loved ones
instead of a job. You simply have a lot more freedom to live
the life that you want. But it does require you to reverse that spending
habit and turn it even from saving really into investing. Hey, thank you so much for watching today’s
video. I hope it was useful for you. Understanding the different phases of life
and figuring out where are you and where should you be. I think those are 2 important questions. Have you been more saver? Have you been more of an investor? Have you been more of a spender? Regardless of what you’ve been, decide right
now. Who do you need to be right now. What does your priority need to be on. And then figure out what are the habits that
I need to pick up today, to make that possible. If you’re not sure how to invest, if you don’t
know how to make the big money, then this book will show you how to produce returns
lightyears ahead of 401k’s IRA’s, the stock market. Boring things like that that frankly a lifetime
of still can’t create enough of what you want to really be a spender that you can enjoy
some of the nicer external things of life as well. This book can definitely show you the way. That’s why it’s called The Straight Path to
Real Estate Wealth. And everything that I poured in to this book,
I dedicate to you my friend. Thank you so much for joining today. If you’re a subscriber, thank you very much. Have you run that bell? I come out with videos every single day and
they’re all designed to help you learn how to rock it out in real estate, in business,
in wealth. But also in the basic foundation of a psychology
that will help you be happy and successful right now. So, check it out. See some of the other links in the description
below that I provide to help you have the most successful life possible. And who knows? Maybe I’ll catch you live at one of my next
events where we’re changing people’s lives. You could be next. Take care and we’ll see you tomorrow.

32 thoughts on “How To Start Saving Money In Your 20’s

  1. Freaking outstanding

  2. Real estate ๐Ÿ˜Ž

  3. I also was a penny pincher until I got married and my first marriage

  4. I always seem to open my YouTube app as soon as he uploads ๐Ÿ˜‚

  5. Thanks for the advice

  6. I'm 20 years old and started my journey of saving. This video definitely resonated with me

  7. Very inspiring thank you

  8. My man going crazy with the content lately

  9. Which credit card would you suggest for a student?

  10. Have the book and love it! Hope to live my life on my terms in the next several years

  11. How can I get mentorship from you?
    I'm a real estate student (4th year)

  12. Thank you

  13. Why i cant buy the book with paypal?

  14. Hello! If you give your book for free, why there is no chance to get electronic copy (in pdf or other format)? The delivery in other countries may costs as much as buy hard copy or even more.

  15. I see you got a fresh cut. Nice

  16. This video is perfect for me turning 19 soon and this information is helpful
    Thank you

  17. I love the Harry Potter books in the back๐Ÿค™๐Ÿฝ

  18. So helpful !!

  19. Thank you for the value u give๐Ÿ‘๐Ÿป

  20. Creeper

  21. Thanks a lot for these videos on people in their 20's Kris, they've been really helpful

  22. Thank you man. You are making me strong and feel happy everyday because I watch your content. I am 17 and I will do it one day. If I do it I will come and meet you.

  23. Wish more people watched you, i always recommend you brother.

  24. thank you so much for greatly the motivational video. your teachings are much better than older grumpy teachings.

  25. Love the content, thanks.

  26. Prayed for my daily bread hackwiser1 on Instagram came through he is real and legit guys!!

  27. Kris please make it possible to get the book from all over the world… That will help a lot… please make this happen…

  28. I did not get my book and I donโ€™t know why been 3 weeks HELP

  29. been following since the beginning. save now to play later. love it man!

  30. It just starts with understanding the power of compound interest if you start saving when you are young

  31. Can you do a video on those at school or just leaving school and what they can invest in?

  32. Love how you said not to equate spending with fun! Fun should never have to be expensive!

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