Name: 7個不常見的方法，讓你快速省下一大筆錢。 (7 Uncommon Ways To Save a Lot of Money Fast)
Uploaded: 2021-01-14T11:19:54.000Z
Duration: 9 min 9 s
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As of 2020, warren buffet is worth 73.2 billion dollars.

And he ranks number 4 on the Forbes richest people in the world.

But did you know that when he was 50 years old, he wasn't even a billionaire?

He made his first million when he was 30 years old.

And only at the age of 56, he crossed the billion-dollar mark.

Then how did he end up on the top of the wealthiest people in the world?

He made most of his income after turning 60.

So, if you are a 20 or 30-year-old adult who thinks it's too late for him to be financially

independent, then stick around because in this video we will explore the strategy that

warren buffet used to crush the Forbes billionaire list?

How is that related to saving money? and you can apply that too!

In one of the previews videos, we discussed how the cycle of poverty keeps poor people

Daily life holds fewer guarantees, there might be good food today and might not be tomorrow.

If there is an ice-cream in the fridge today, you better eat it now because you never know

when your parents will get you another ice-cream.

And even if they promise to get more next week, you can't trust them since they have

broken such promises before due to financial necessities.

So, you grow up preferring immediate small rewards instead of waiting for bigger rewards.

When its a payday, instead of putting aside

20 or 30 of your income into your savings account, you spend it on you new clothes,

restaurants or start going out with your friends more often.

You will feel good in the short run, but you will never save enough to achieve that

financial freedom and will be working 9-5 till the end of your life.

The first step to saving money is to learn

And that's what made Warren Buffett so rich.

Even though he crossed the million-dollar mark when he was 30, he didn't buy a brand

new car, start going to expensive vacations, but kept living frugally while investing everything

And with the power of compounding, his net worth skyrocketed over time.

That doesn't mean you should live frugally

But if you want to save enough money to achieve financial freedom.

Maybe you should be saving 20 percent of your income so that you build up a big enough investing

portfolio that will provide with enough passive income.

When you are a teenager or even an adult, city life is all that you wish.

You meet different people, visit different places, and everything is moving fast.

While you are still young, you should be enjoying your life.

The problem with that is, life in the downtown became so expensive that you will barely make

ends meet even if you are earning twice the amount.

Rent alone will probably eat up half of your paycheck, if not more.

So one of the best ways to cut your expenses and save a ton of money is to move to the

countryside or move to a different city that is more affordable.

For some, its impossible since you have to be in the office every day, but right now,

we are presented by a fantastic opportunity, if you can do your job online, your boss will

Of course, you might be a weightier or salesman and you might not be able to do that.

but, as the world is trying to immediately digitalizes, now is your opportunity to do

Just imagine cutting your expenses by half and investing that amount.

Preventing yourself from the pleasures you can afford is not easy, especially if your

savings are already in dozens of thousands of dollars, if not hundreds.

The problem with most people is that they don't have a clear vision of why do they want

Do you want to be financially independent?

Do you want to save enough for your retirement?

Not everyone wants to live super frugally their entire lives just to be on top of the

let's say you want to retire on an island in southeast Asia.

You can do that with as little as 12k dollars of passive income annually.

So, before you implement any of the things

we are discussing in this video, spend a few hours thinking about what exactly you want

And base on that goal, decide how much you need to save and within what time frame and

then implement the tips we are discussing.

It's weird how some people want to save money but don't have any clue about their spending

Here is how most people budget, this is how much I make a month; one-third or half of

it goes to my landlord (rent), and the rest, I will spend it gradually over time.

But then at the end one the month you are going to wonder, how on earth did I spend

There are many ways you can save a ton of money, by having a clear understanding of

You don't have to dime and nickel with it, but at least have a general understanding.

Set a specific budget for food, transport, and other things and revisit it at the end

of the month or each week if you are following the plan.

And if you are not, then you have to cut your spendings maybe.

Car is not an asset  A car is the most inefficient method of

transport because it spends 96 percent of its time parked doing nothing.

Even if you move around a lot, you will use your car maybe 10 or 20 percent, at best.

But regardless of how often you drive, you still have to pay insurance, every now and

then you have to change something, maybe the ties because its summer.

There are just so many expenses that come with a car that you don't think of when you

At first glance, it seems like having a car is cost-effective, but when you do the math,

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7個不常見的方法，讓你快速省下一大筆錢。 (7 Uncommon Ways To Save a Lot of Money Fast)

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