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Cycling places, cutting your own hair, driving an older car, living in the same house, all that it's OK, you can considerate frugal, but having millions in the bank and eating cat food it's just miserable and ridiculous

@MicahPotts

2 жыл бұрын

I couldn't agree more! Ok to save up, but now you have the money! It's time to start living!!

I've become a lot more frugal in the last few years and what I've noticed for me is that it's becoming more based on gratitude and appreciation for what I have, taking care and valuing the things I own and letting go of using material things to impress others.

Long ago I learned from a fellow sailor who always seemed to have plenty of money and things he wanted. Always have cash in your pocket and bank account. Then you don’t have to buy something to feel good. Now I’m a multi, and I keep cash in my pocket so I can buy what I want and usually don’t because I can. I used to be broke and would impulse buy on credit because it seemed free to buy on credit. If you can buy something you usually look more closely at the impulse to purchase.

*"It is not how much we have, but how much we enjoy, that makes happiness." Charles Spurgeon*

@MattMathesonFamilyMoneySchool

2 жыл бұрын

I love this!! Sturgeon rocks!!

@drschaweetness

2 жыл бұрын

Yesssss

Saving is so so important and doubling down on investing as opposed to consuming 🤟🏽

@Erika2

2 жыл бұрын

yess!

@hazelwears8728

2 жыл бұрын

Yeah,if you died tomorrow then it's all for not!

It's surprising to many people how frugal the rich are. They had to be frugal most of the time to get to where they ended up

@lianacris7568

2 жыл бұрын

I couldn't agree more! And it's their lifestyle that led them to where they are today.

@MicahPotts

2 жыл бұрын

Yeah but now they're old and rich! It's time to start spending some money!

One frugal tip I have is, shop my family and friends' closet. I haven't spent money on clothes in years thanks to this tip.

As always, thank you Erica. Have a pleasant weekend

For a lot of these people there’s no way they would have gotten how far they have if they didn’t save a lot of money! Great video!

Great content! Recently found your channel and loving it.

@Erika2

2 жыл бұрын

I'm so excited to hear that! Thank you!

Lol 😂 I absolutely loved this video! However, I refuse to eat Cat TUNA! 🤣🤣🤣👍🏾✅✅

@Erika2

2 жыл бұрын

😂😂😂 same

@sagatuppercut2960

2 жыл бұрын

And regular canned tuna is cheap @ discount stores!

@barbsinclair7352

2 жыл бұрын

Agree, I didn;t know they had "cat" tuna, and I've owned cats all my life, but besides that I am always looking for ways to be more thrifty, and had already been kicking the space heater idea around, might see how that works this winter.

How do you people still give this young lady a thumbs down? She gives so many great tips for “FREE”!

@amyhudson1016

2 жыл бұрын

Jealous people

Hope all is well with you Ericka on your new adventures.

Awesome video ERIKA. How you making out in your new ventures in life? Thanks for sharing. Keep the incredible content coming. Always a pleasure seeing your beautiful face and smile. Hope you have an amazing weekend. Much love

Gotta love the lessons and knowledge that can be learned from this video! Thank you 🙏🏾 you are doing a wonderful job.

While these anecdotes are quirky, I think it's important to point out that you don't become a billionaire or even a millionaire by reusing tea bags and saving salt packs. This kind of frugality seems to be more of a neurotic habit that some people develop (and not just the ultra wealthy), like an anti-hoarding syndrome. I guess, if that makes you happy, go for it... just don't expect it to make you rich. There's no reason for someone worth $60 million to clip coupons for groceries. Spending a few minutes to save a few $ for someone in this category is counterproductive... those added up minutes could have been used to make waaaaaaaay more money in other ways, utilizing your wealth to invest or grow. Or maybe, I dunno, take up a hobby, read a book, enjoy that daily latte because it only costs $5, which is an infinitesimal chunk of your millions or billions.

@danielnewsome235

2 жыл бұрын

yup. when you become rich you should use your money to get your time back (paying someone to do things that take your time away). Time is the most valuable resource.

@nancysmith2874

Жыл бұрын

Maybe clippings coupons and things is their hobby

If I've got $5,000,000 in my bank account, I'm not going to be eating cat food!

@giocondakisses

2 жыл бұрын

I knooooow!

Great video. Frugality brings me great happiness. I could live a luxurious life but I would rather be free from financial obligations as much as possible.

So inspiring 😊

Good list! 👍🏼

You give such a smooth presentation! Do you memorize your entire speech or do you somehow have a teleprompter?

@shrosha

2 жыл бұрын

I think the video is done in parts so that she does not have to memorize whole text.

@MicahPotts

2 жыл бұрын

Most KZreadrs have a script that they read from

Thank you Erika

Nice video. I have thoughts about future content: what’s the point of being a millionaire if you’re living like you’re poor? Shouldn’t there be balance? And it would be great to see how women can become wealthy on their own account. These extreme billionaire examples are unrelatable. Also, millionaires in my family say their success was primarily due to consistent stock investing over their lifetimes. Perhaps, that can be a focus as well 😄😘 Love your work!

@MattMathesonFamilyMoneySchool

2 жыл бұрын

These are really wonderful points! I love the idea of balance…spend on the things you live and are deeply about, cut the rest!! And I think you hit the nail on the head with how to build wealth…regularly investing in the stock market whether the market is up or down!! Thanks for sharing!!

@elzbthp67

2 жыл бұрын

The point of being frugal when you no longer have to? It's probably an ingrained habit or they do it because they enjoy seeing their savings grow by doing simple things to help it along. They're not living in a cardboard box, they're simply not throwing their money away. In their place I would probably treat myself to a vacation once a year (hiking somewhere beautiful) and open the small bookstore I've always dreamed of, but I wouldn't need a mansion, expensive food or cars. That said, I would NOT be eating cat food like the one lady. Ick! 🥴

@tashaedwards5950

2 жыл бұрын

The last lady, cat food lady, frugal living may cost her health or life in the long run

Nice work Erika!

I could easily live above where I am now but I choose not to. I’ve lived with much less when I was younger so I’m used to it. I prefer security over needless spending.

Cultivating joy, making memories and building relationships. Great examples of these intentional habits - thanks for sharing Erika!

Living below my means is my number one tip. I don't think I would go to the frugal lengths that some of these folks have though (my water heater is always "on"!).

Hey Erika, When I worked at Chase the customer would come that always kept $6m in his checking account. He drove a 1980s Toyota pickup. Me and coworker even had to jump start him once lol. He never wanted to upgrade and lives in a regular size house as me. He said he spends money travel but is frugal on everything else

@ceciliavalencia7656

2 жыл бұрын

Definitely love this strategy spend on traveling vs house or anything else😊

@jmconant

2 жыл бұрын

My friend worked at Chase and said a multimillionaire would ride the bus with his kids there and that he was super humble 😀

@mimiashford5544

2 жыл бұрын

@@ceciliavalencia7656 YES! EXPERIENCES count more than THINGS.

Eating out at Chipotle is what I'd keep doing no matter my income! It's my reward for whenever I meet my goals

Sometimes recommended videos work better than notifications

Good to hear from you Lol ☺️☺️☺️☺️☺️☺️

🗣FREE 7 Day Money Bootcamp 🔔CLOSES Dec 31, 2022 🔔Join now: erikakullberg.com/join-money-bootcamp 📹 Watch the Erika Taught Me podcast to level up your life: www.youtube.com/@erikataughtme

Didnt watch the video, but eating chipotle til I’m fat is my financial and nutritional kryptonite

@inspirepaul3258

2 жыл бұрын

What

Hey Erika nice to see another video. To each there own. My profession puts in company with wealthy successful people. Business owners. One particular person takes home 100k profit monthly. Spendable income. For many years now. Owns 2 businesses. Person spends 10k a month on themselves. They want to enjoy life. Can't take the money with you when they die. Life is to short. There philosophy is they don't save money they make money. Thanks again for new video

Enjoyed watching this video❤️ If you want to have that money flow it's also important to know how to safe money. Love, peace and joy to everyone reading my comment❤️

What a great question regarding Frugal habits….

@Erika2

2 жыл бұрын

;)

Saw your TikTok video on transparency, so I wanted to give you more views!! 😉

@Erika2

2 жыл бұрын

Thank you!

These are great tips I can get on board with. Except for the cat tuna. 😂

Great Content! Learn quite a bit from your channel. Finance as well as content creation :)

Even if I had millions in the bank, I would still be cooking and eating simple food at home. Growing and preparing your own food from scratch is so satisfying, it's become one of my favourite hobbies.

👏🏽👏🏽👏🏽 amazing

I love listening to those stories very inspiring thanks Erika

@Erika2

2 жыл бұрын

Glad you like them!

Sorry out of context....but wats the name of bonsai tree behind you?😅

I would still buy a gently used car. A brand new car instantly depreciates when you drive it off the lot. I would also try to not always buy new things. I try to appreciate the items I have. My new goal for 2022 is to actually buy less frivolous things.

Time to be a minimalist

I have a bad habbit of buying things I don't need or wanna use anymore. I want out of this habbit it's costing me money 💰 have any tips to stop this habbit?

My husband and I refuse to buy brand new cars. We buy used, low-mileage cars and drive them into the ground. No matter how much money we make, I will never see how a $100K car will ever beat the comfort and performance (at least all the performance that I need!) of my fully-loaded Altima for much less than half the price. ;) We also buy most of our clothes off Poshmark and have bought a lot of our furniture off Facebook marketplace. No shame in this game. Love your content!

I will continue my couponing whenever I have the chance...and rest is invest..invest..invest...

The Millionaire Next Door by Stanley & Danko is an interesting read. My C.P.A. confirmed, he said he has some of the most modest and humble clients, and they're LOADED.

You can buy an external shower heater though.

Use public transportation helps, eating leftovers, shopping second hand, cooking more at home, buying on sale , negotiate on a deal, fix staff around the house yourself saves your money , sell staff around the house no longer use. Live below your means. Be a smart cookie.

I recall saying to someone: "If he's a millionaire what millionaire shops for $1 socks?" (the reply): "A millionaire!!"

I understand being frugal, but at some point, when you're old and will not likely run out of money, why not start spending some of it!!??

Erika, yes.. you are doing a great job..Please, I am just adding to the topic with another angle... Our accounting bible is called Intermediate accounting by Kieso & Weygandt... And, I followed the book to the T with analyzing Amazon stock... Guess what.. the book was wrong!!! LMAO Do you know how much money I missed out...LOL Dear God... But, the book was wrong on one important point... Jeff Bazos... Never under estimate the founder... You know this..that in life you must question everything (cross examination) you read and hear....Peace out..

I believe in frugality but some of these are a bit extreme. Reusing teabags? Nah. You sacrifice so much flavor to save a penny.

I was agreeing with all the points until you mentioned that lady eating cat tuna lol

I spend three times more a month than that last frugal millionaire and yet I am nowhere near a millionaire.

Jonny is going to be one of those broke faded drunk stars ... very sad... I agree, save save save.... Hope all's well on your awesome new adventures hun... Great video..😉👍

@Erika2

2 жыл бұрын

Hope all is well with you!

@lilramborambo4399

2 жыл бұрын

@@Erika2 All is well with me on the home front... Getting ready to start a new work project so I can add to my savings.😉👍💰💰💰🌞

@lilramborambo4399

2 жыл бұрын

😘💞💞💞💞💞

@warrenl1991

2 жыл бұрын

Johnny will never be broke. He’s 58 years old and still worth $75M. He’s also still earning million dollar paychecks.

@lilramborambo4399

2 жыл бұрын

@@warrenl1991 I'm glad to hear that😉👍💰💰💰

"He who buys what he does not need steals from himself."

Is that a real like tree in the shape of a Bonsai?

I like the idea of using a space heater, but I will be d@mned if I start eating cat food 😬😳😱

@Erika2

2 жыл бұрын

Hahahha same

Elon musk is another one you should add to your list!

Hi Ericka! I see they don't have to buy the expensive clothes,food etc all is is living simpler aka under your means.

If I were a millionaire, I would keep turning off lights when there’s nobody in a room, and keep my thermostat at 68F during the day. And turned off, if I’m not home.

I definitely don’t and wouldn’t eat cat 🐈 food! I would live in our same house, although I would remodel what we haven’t already to the 9’s.

When your wealthy... frugality starts by not being wasteful. Don't reuse teabags. Lol. But when you cook, make sure you cook only what you can eat. :)

Cycling, own hair cut, will keep the inherited house and have it restored

Captions are in Dutch? Or is it just me?

My brother in law, super rich, also let my sister cut his hair. But he did buy a $14M yacht, some nice cars and homes. ^^ got live a little.

Don't forget to scroll up and hit the like button :) It really helps the channel out! Thank you! Find out how Upstart can help lower your monthly payments today: Upstart.com/erika What video do you want to see next?

@amyc5913

2 жыл бұрын

Money is not more important than having real love.

Is that lemon bonsai tree real?

Frugal is okay, but don't begrudge yourself. You only live once, and your kids really won't appreciate how you "frugalized" just so they could have an inheritance to blow.

I’m almost a millionaire and use coupons. I get stuff cheap to donate

What's the point of money if you're not gonna spend it. Im obviously not saying blow all your money but once you hit billionaire territory you don't really need to be frugal and in fact you would probably be happier if you spent more.

The woman who eats cat foot tuna . . that's just plain ridiculous. Great video!!!

@Erika2

2 жыл бұрын

Haha agreed, I would never go to that extreme

I would keep none of my frugal habits if I became a billionaire

@pmaps6158

2 жыл бұрын

hahaha

Starting out frugal and ending up cheap when you have became millionaire status is backwards. So why else are you frugal and then to stay frugal…no way!

I wouldn't eat cheap trash if I'd be a millionnaire

No eating out using coupons stay home instead of vacations use car only for work saves on gas and maintenance

I've done all that and I'm still poor. Think I need to invest! 🙃

1,000th like!

I consider myself a pretty frugal person, but I would consider the last lady a miser - not frugal.

And this is why they are millionaires

Good tips but I draw the line at eating cat food.

Some nonsense too about this frugality. If you can afford go for it. Therevis also business within. This type of frugality like not going to the barber for haircut is ridiculous. I tried . It makes me look so funny. Even my grandchildren dont like it.

I take cold showers. Woulnd't change that.

"Warren Buffet and his friends"

Tuna made from cats??

Me eating mcdonalds is considered a luxury.. see the difference. I have a long way to go. Wish me luck

It's a nice thought but honestly what's the point of saving every penny. At some point it becomes excessive. The point of having money is the security and comfort. The key is balance, I'd shoot myself if I was a billionaire and still worry about stressing over timing my showers. That's definitely mental heath...

The cat tuna is not only disgusting but disturbing the used car is smart but keeping one over 17 yrs or 15 runs thr risk if not working or over heating or not been reliable. Good video but being overly frugal like some of these millionaire it's plain disturbing in my opinion.

I think it’s a bit much. Like you earn money to achieve a comfortable lifestyle. As a multimillionaire if you’re still living like a poor person, what’s the point of the money? Where will all the money go when you die? What was the point of it..seriously. This is why people say you can’t buy class. The tuna cat food and a lot of the content in this video was very depressing. I don’t think you should go all out but let’s not idealize being extremely cheap.

I think that sacrificing health to be frugal is not smart. Eating McDonald's does not constitute smart saving because in the end your health will suffer and will end up spending even more. Some millionnaires are actually ignorant and don't understand that investing in health (eating healthy, exercising, relaxing etc.) is the greatest health. Also, the first concern of healthy people should nor be to save but to help fellow humans in need. I find that rich people who over focus on being thrifty also have a thrifty heart and mind. I look at their lives and to me many look so poor.

It is 2021 & mobile phones aren't a need. We don't need mobile phones.

Sounds like habits they had from not having enough money that they never broke once they were rich. Nothing wrong with that but you can't take your money with you into the grave.

I'm sorry.. cat food?! No.

Any rich person that wastes lots of time to save money doesn't understand value. The water heater lady was a bit much.

That's not frugal, that's crazy. Crazy people do wierd things. Cat food. Right... Why not a dog house and no clothing? That's gonna save it :)

I'm sorry, but they are literally stupid. They all are complicating their life too much. They don't ever care about their safety or their health (physical or mental). I hope that people who see this aren't going to follow their example. There are other ways of building wealth besides disregarding yourself!!!