How I manage my personal finances as a minimalist.

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🙊 Here are the goods I mention in this video:
Chase Checking: personal.chase.com/personal/checking
Chase Sapphire: creditcards.chase.com/rewards-credit-cards/sapphire
Vanguard IRA: investor.vanguard.com/ira/iras
Individual 401k (for business owners): investor.vanguard.com/small-business-retirement-plans/self-employed
💰 Additional Personal Finance References
(Some are affiliate links. All are my genuine recommendations):
The Total Money Makeover by Dave Ramsey: amzn.to/2XDHmBN
I Will Teach You to Be Rich by Ramit Sethi: amzn.to/3c9WqfN
Money Master the Game by Tony Robbins: amzn.to/2zI0hU2
A Minimalist Approach to Personal Finance: noburn.info/id/video/4IrGqNp0fGp7aZQ.html
Everything you’ve been told about money is wrong: noburn.info/id/video/xYLKcp2VinttqKA.html
💯 You can also follow me here:
Newsletter: mattdavella.com
IG: instagram.com/mattdavella
Twitter: twitter.com/mattdavella
Podcast: groundupshow.com
❤️ Get more videos & support my work:
patreon.com/mattdavella
Thanks for watching!
Film og animasjon
Runtime: 10:38

Kommentarer

Steven Yang
Steven Yang - 32 minutter siden
The single biggest reason why you should have a savings account is to save for emergencies and a home. Check out my youtube channel on why savings account is needed!
Steven Yang
Steven Yang - 29 minutter siden
I should probably make a video on the pros and cons of Traditional vs Roth IRA
Lucas Y
Lucas Y - 3 timer siden
You can’t just buy a home, you need to save for one, somthing that a savings account would be useful for
Andrew Coffey
Andrew Coffey - 9 timer siden
Bro, love your take on personal finance.
Gouransh yt
Gouransh yt - 19 timer siden
Stephen
Michael D
Michael D - 3 dager siden
He has a photo of Dwayne Johnson on his shelf
T Walsh
T Walsh - 4 dager siden
I'm stressed over finances
Rodrigo DLM
Rodrigo DLM - 5 dager siden
Everything on your video is super great but, what about life insurance? It is important to lower all kinds of risks, and a good message too those starting out. Thanks Bro!!
Melodic Humming Bird
Melodic Humming Bird - 5 dager siden
Are your videos recorded with an ARRI camera?
Melodic Humming Bird
Melodic Humming Bird - 5 dager siden
Stunning channel. Why don't guys like you waste money in LA and don't come to live in Berlin?
Phillip Harris
Phillip Harris - 5 dager siden
It would be nice if you cut up your credit card and got a debit card.
Faruk TAŞ
Faruk TAŞ - 6 dager siden
matt ı dont understand ing :( pls translate turkish :( I love you bro :) Plsssssssssssssssssssss
ggguuueeerrraaa
ggguuueeerrraaa - 6 dager siden
what's your major?
Lil Tech
Lil Tech - 8 dager siden
2:05 that posture doe
Alicia Willis
Alicia Willis - 9 dager siden
A savings account isn't used to grow money. You park your emergency fund in a savings account so that it is 100% available to you, without strings or hassle, in the event you need it. You should have 3-6 months of expenses in a savings account. Yes that money sits there, but the peace of mind is a much greater reward. That is my personal finance beliefs...Dave Ramsey's influence.
You can also get rid of the credit card. The same argument that you have about not owning a savings account, could be applied here. There really isn't a reason to have a credit card. The cash back rewards or airplane mileage points are almost negligible to the amount of money you have to spend to obtain those rewards.
Jose Perez
Jose Perez - 9 dager siden
I absolutely love your videos man! You really inspire me to do great things in my twenties. But is that a photo of The Rock in your background? Haha
Andrea Felli
Andrea Felli - 11 dager siden
Omg Matt I was sleepy already and was actually dozing off when you mention “ if all of this is putting you to sleep” 🤣
Jyri Väätäinen
Jyri Väätäinen - 13 dager siden
It's amazing. I only have 4 monthly bills. Rent €428 for studio apartment including internet, water and other utilities, I pay to that mobile plan for my phone €6,90 a month. Electricity bill is around €30 a month and renters insurance is around €9 a month. Year in advance I pay for Deezer Premium, €99,90 saving two months. This is the life worth living. You get so little bills compared to owning. Most of my relatives owning house and a car are house poor living paycheck to paycheck and I keep my money in savings with 1% profit. Amazing video, mate.
My bus card is €395 a year which is cheap, unlimited. It has all the areas I need in my town and nearest cities, and I have no need to pay extra owning car.
James McCann
James McCann - 14 dager siden
Any Irish people laughing when he says “IRA” ? 😂
Dennie Ondraczek
Dennie Ondraczek - 14 dager siden
Don't you ever use a protective cover for your phone?
David Salomon
David Salomon - 15 dager siden
Four bank accounts ? That's not a minimalism. Loosen up a little bit and enjoy life while you are still young.
Jyri Väätäinen
Jyri Väätäinen - 13 dager siden
I use three bank accounts. My main bank has my payroll account where I put my salary. From that I transfer to internet bank each month €500 on a pay day. This is important, because otherwise you could spend it... and internet banks in Scandinavia are paying better % on your savings. I am minimalist, so in my main bank I have another savings account for emergencies. I put EVERY cent I have not used before my next salary payment. From that I can afford purchases outside budget sometimes. If money is tight here, I put from my internet bank some funds, and try to put double back next time. One thing I don't do like a vlogger. No credit cards. At all. I always pay cash and without any monthly payments. Even if zero interest. Not worth it.
Personal Finance
Personal Finance - 15 dager siden
I think minimalism and personal finances go hand in hand!
Rastislav Zimermann
Rastislav Zimermann - 18 dager siden
Hm. how the hell do you make 97k dept :D :D Americans are hilarious, I left my Univerisity education with a profit (including a car, flat, tons of travel accross the Europe and 1st class honours degree. )
tyler sowa
tyler sowa - 18 dager siden
So what you’re saying is; once you purchased the leather jacket, everything fell seamlessly into place
DMT IAG
DMT IAG - 18 dager siden
39 got my own house debt left 900 only on it. Working on second house. I was very bad with money after age 24 I decided it was enough. Lost 25kg now quit processed sugar and my life getting on track.
Golden rule in life to follow never lend money to anyone espically not friends no one. 62k I lent to somone that I once called friend i gotten only 1700 back so another $60300 to go. Nightmare that I did not need. Don't lend money to anyone and you will avoid my disaster.
Lambo Lapdog
Lambo Lapdog - 20 dager siden
👊👊
Tikerrah Young
Tikerrah Young - 21 dag siden
Oh wow, I had that book years ago, i should look into it again 🤷🏽‍♀️ the yellow book
Duramajin
Duramajin - 22 dager siden
Step 1 youtube income step 2 win.
Heath McCabe
Heath McCabe - 23 dager siden
Is there a benefit in having both a Roth 401k and Roth IRA, if I can’t max out the Roth 401k?
Russell
Russell - 23 dager siden
Looking forward to seeing some more of your videos!! You deserve way more subscribers. Have you ever heard of smzeus . c o m? You could use it to help increase your subscribers!!
B.S Finance
B.S Finance - 23 dager siden
Graham Stephan on the Ground Up Show? Anyone else think that's a good idea?
TravelBean
TravelBean - 27 dager siden
I always count my blessings to living in a country where my undergrad was free and my masters only cost €8000....the american system is insane
J Hack
J Hack - 27 dager siden
Recently started watching your videos, fantastic content! The kind of content more people need in their lives.
Kelli Davis
Kelli Davis - 27 dager siden
Were the same. If you can’t pay the purchase off at the end of the month - you can’t afford it. Same on the house too. It’s not ideal for us to buy a house in DC. We make good money but don’t want to be house poor - especially when we see great returns in our investment portfolio, as long as your diverse you don’t need a house as an investment unless the market makes huge changes that makes sense to buy. Making good choices! Love seeing people talk about their finances.
Virru112
Virru112 - 27 dager siden
I use my AMEX where ever I can. I only use what I would use each month anyway, however by using it I help my credit and I also get discounts as well as flying companion vouchers/flight points. It’s only bad for those who don’t have that self control in my opinion.
Brye-life
Brye-life - 28 dager siden
Can you explain why you use a credit card when you already have the money? Sounds like extra steps instead of just using your debit.
ASAPneha
ASAPneha - 28 dager siden
I bought a leather jacket too, ooops
The Finance Fool
The Finance Fool - 29 dager siden
What if getting the leather jacket set him down the right path?? So true about the credit card thing though, they really are a double edge sword!
José Luis Sosa
José Luis Sosa - 29 dager siden
Dude, the "right time" to buy a home will never come, however right now interest rates for mortgages are super low, which is a great time to get financing for a home. Also, if you're a first-time buyer and plan to live in it for at least a year, you could qualify for FHA loan which allows you to put as low as 3.5% down.
Anything is better than giving your money to your landlord.
Have you considered sharing your place? We bought a house in the Bay Area two years ago and we rent out the empty rooms while having great housemates.
It's possible, Matt!
Jyri Väätäinen
Jyri Väätäinen - 13 dager siden
You are not owning anything when paying your debt. You don't own even a land.
Adrianna
Adrianna - Måned siden
Your side profile is incredibly sexy
Yolanda Elias
Yolanda Elias - Måned siden
En español please!!
Donovan Commandeur
Donovan Commandeur - Måned siden
This is such an incredible story. Not only about pursuing your passions, but absolutely destroying your student debt!
Kevin Kim
Kevin Kim - Måned siden
Can you go into greater detail as to what you define as a solid financial ground? I guess it would be difficult to put a monetary value to it as everyone's situation is different, but it would be helpful to put it in the perspective of the risks you took. Thanks!
Joy Rowan Casey
Joy Rowan Casey - Måned siden
As an Irish person, listening to Americans talk about IRA retirement funds always makes me do a double take for a moment or two before my brain catches up with my ears
Marquel Jones
Marquel Jones - Måned siden
I'M READING THAT BOOK NOW
Ollie Sydenham
Ollie Sydenham - Måned siden
Did i miss a wedding?
Andres Espinosa
Andres Espinosa - Måned siden
Does anyone else see the frame of “The Rock” in the back
Jean Francois Thomas Berin
Matt read my mind I was falling asleep...
SunnySideup2012
SunnySideup2012 - Måned siden
You should look at sinking fund for some of the future plan..
Emma Davies
Emma Davies - Måned siden
“Don’t let the fear of doing the wrong think keep you from doing anything” YES 🙌🏻
Youcef Tech
Youcef Tech - Måned siden
The legendary picture of "The Rock" in the background is legendary!!!
Ellyza Dawn
Ellyza Dawn - Måned siden
i see the ROCK in that picture frame!
Owl27-X
Owl27-X - Måned siden
Matt Davela is racist
uxm2009
uxm2009 - Måned siden
what was that??? a kindle??? please tell me! color?? wow. I need this. 0:28
Serge Rijkenberg
Serge Rijkenberg - Måned siden
I can't help myself :P When you point out how $4,000 can grow to $1.2 million but in the same vid say the $100-$200 savings are not worth my time.
I fully agree that everyone has to decide how much their time is worth, but feel the need to point out that if you increase from $4,000 to $4,100 your end result also goes up by 2.5% with $30,000. I personally find it worth some hours a year to figure out the best savings rate, believing my future self will thank me =)
Lola Lola
Lola Lola - Måned siden
I love you mat your advice is so great I totally agree with you
Mohammad Master
Mohammad Master - Måned siden
I knew buying a leather jacket would be my downfall
Nick Henrich
Nick Henrich - Måned siden
wait does he really have a dwayne the rock jonson portrait at 1:27? Nice eastereggs !
IamMac
IamMac - Måned siden
Question: How are your finances during this endemic? Especially in investments?
Sejr
Sejr - Måned siden
Don't let the fear of doing the wrong thing prevent you from doing anything. ~ Matt D'Avella
YK 16
YK 16 - Måned siden
What’s a Roth IRA? I don’t know

But I know how to factorise a quadratic equation to find x. ;-;