How I Saved 100% of My Job Income | BeatTheBush

How did I save 100% of my job income fro 2016? Watch to find out. .

How’s it going everybody this is beat the bush something very interesting happened in 2016 for me because i track my finances every single month in a spreadsheet and i check out what’s coming in and what’s coming out what am i what i am saving and i found out in 2016 i actually saved 100 percent of my income you michael well saving a hundred percent of your income

It’s kind of like spending zero dollars i mean am i living in a hole or something i’m not i’m you know i have a normal life i buy stuff i eat food and so i’m actually spending money on a very low level actually and most of my income 100% of the income from my day job is actually going into my savings now a lot of this has to do with cash flow you have to increase

Multiple sources of income coming in and also really restrict your outflow your expenditure on everything basically and this kind of applies to everybody so i’m gonna go over a little bit of what exactly i do to bring in more sources of income and also what i do to restrict the expenditure in a comfortable way of course and you can kind of apply this for your

Own finances and hopefully you can start to narrow it down and start saving more and more the thing is it wasn’t always like this for me because i actually had to work really hard to kind of polish my finances okay i’m like polishing this object where oh yeah you know you know you can kind of increase your income a little bit here via investment you can reduce it

A little bit there you know with like reducing services that you don’t really need or use and i’ll go over each one of those in particular i’ll share with you some of those things in this video here’s my favorite cash flow diagram you can see here all my job income is actually going into the bank right here after tax it’s going in there and none of it is flowing

Out because i’ve got all these other sources of income that’s paying for these low level of bills and housing that i’m expending you got to know it’s not as impressive as it sounds because i’m actually spending really little now if you’re like a pretty big spender and you’re still doing this then that would be very impressive you can see here the first inflow of

Cash is through credit card points i’m actually using the points in such a way where when i get the point i’m not just throwing it away and go oh i’m going to use this for you know paying the annual fee or i’m just gonna blow it all off on traveling somewhere well i actually take this and i spend it as i normally would rather than just blowing off on stuff so i use

It for living expenses and you know i get like 200 here 100 there maybe you know some big ones like 500 you know add up for like a year you might get like about $2,000 worth of cash back bonuses without having to strain yourself in spending more another really huge part of the cash inflow is i got kind of lucky this year after reading that investment book i just

I don’t know i just got kind of lucky and i made a bunch of money on investments which helped pay for my living expenses and and so i can see that yes you can you can say oh i use some of my job income to pay for living expenses and investment doesn’t really count investments actually being saved well you can think of it either way but investments did help and

I have a whole bunch of videos on on how to invest value investing one of my last videos i recommended this intelligent investor book this is the book that i read at the beginning of the year that caused my investments to take a turn to do a lot better so um i don’t know if i can fully attribute it to this but or maybe i got lucky here whatnot but this helped and

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You can actually get this book through audible for free and i’ll have a link down below in the video description which when you click that it would also help my youtube income i do make some money through youtube but um if you kind of look at the fraction of how much it is compared to other other stuff it’s actually a small portion i’m not that big a youtuber but

I do hope that it would you know continue to grow and you know other people will watch this video and help them selves on increasing their multiple sources of income and you know reducing their amount of expenditures which i’m pretty big on to which i’ll go over a little bit later doing that will increase your cash flow essentially if you increase your multiple

Sources or income enough to cover your bills then you can save 100% of your income i would have to say that i probably got lucky this year maybe next year this will not be the case but in 2016 it is true that i did save all 100% of my job income which is you know pretty crazy to me i never thought that that could even happen and so soon anyway on top of all this

You can see that there’s amazon on ebay on here i’m not actually a reseller because i think doing reselling is kind of mundane and tedious and you’re not adding any value because you’re just bringing in products and then you’re shuffling them out what i mean by these amazon and ebay stuff is i’m just selling my junk sometimes when i buy stuff and i find out i don’t

Really like it and maybe it’s after the return period i would just sell it through amazon or ebay on top of that i kind of strive to be a minimalist so then i try to sell a lot of stuff and if you are good at this you can sell a whole bunch of your stuff and you can kind of see around here it’s a little bear i guess because i don’t have that much stuff around

But this is what i like i like i like things to be clean looking uh you know kind of streamlined and not a lot of clutter around so when you do this you can sell a lot of those things and if you have some value in those things and i mean this stuff can add up to like you know thousands in a year pretty easily so those things also will help contribute to the cash

Inflow that helped pay for my bills food and housing and over here you can see my rough expenditure for the year and you can see i spend roughly about forty thousand dollars a year i live in the bay area so housing is really expensive and i mean you just got to deal with it you see i got every single month up you know every included is about $2,200 over one year

Period that’s $26,000 so you can see that’s a majority of my expenditure if you subtract 26 k from 40k you can see that that’s only 14 k that’s how much i spent a year outside of housing i don’t know that’s a lot to some people but for people in the bay area the people that are working in professional jobs that probably is really really darn low so let me cover what

Expenditures i have and how i’m able to cut those in order to you know get it that low you got to understand that because it’s so low is the only reason i was able to cover all these expenses with these little tiny little sources of income everywhere the bill per month for waters 28 that’s pretty typical and trash i made a video about reducing your trash expenditure

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By reducing the service level okay it used to be $30 i reduced it to $17 before i did that i totally didn’t think you can even do that so this requires some skills which is covered in that video gas electric is really just being efficient in using your electricity you use a bunch of led light bulbs yes l light bulbs insulation etc i don’t have a school loan i paid

That off car payments i don’t have a car payment i paid that off i drive a porsche boxter by the way it’s a really old one 2001 cost me about $20,000 and i think within the first six months i paid that off with my own money nobody gave it to me i actually made that money and i paid it off with my job so home i don’t get a typical at&t or verizon cell phone

I use a freedompop one which i also have a video on this it seems like i make a video about every one of these little tricks that you can do um it’s actually free but i put 15 dollars here because the service kind of like tries to jack you into paying money so then i kind of factor that in a little bit and say okay yeah it’s gonna be about 15 dollars a month it’s

A free cell phone but it still works on the 4g lte work i get one gigabyte a data i can make calls and receive calls so you might think oh my gosh that’s kind of like a weird thing how do you get a cellphone for free check out that video and you’ll know why landline i don’t have a landline cable i don’t have cable i don’t watch tv too often i just watch over to

Air hd tv and which is free if i want movies are not whatnot i rent a red box or wanna bring it back home which is really old-school you know because people get like netflix or some things that’s me and that’s how i reduce the monthly expenditure car insurance i did one way instead of two ways recently because i figure if something breaks if i gained an accident

Or whatnot i can probably cover the cost of repair with my own cash normally it would be a hundred dollars but then i reduce it is 37 i factor in about a hundred dollars of car manias because it is an expensive car and there will be you know things i need to fix that have expensive parts oh it’s been roughly about $100 per month you know but you know i don’t pay

Every single month but that includes the tires which are really expensive gas under $50 food expenses i actually go pretty low on food expenses even though i’m eating some level of meat lamb it’s good food i’m not eating bread or anything you see i buy my own meat and i cut it i can make my own shabu shabu and it’s delicious so cooking yourself actually saves a

Lot of money of course and i still go out to restaurants i don’t know to three times per week or so so i factor in about $200 it probably sounds a bit low probably two times a week i think i used to buy a lot of clothing um you know i might go to the mall and just pick up clothes so then i have a huge stash of clothing in my closet that that i’m just working through

And um you know i don’t have to buy anything in it and i still have clothes where i got a factor in money for gadgets every month because i buy various things to try you see i use the gopro grimble i buy gopro for this youtube channel and basically other gadgets and such and then i have others which you know i just kind of funnel in all the other other things i

Didn’t take into account you add all the all that up it’s about $14,000 and i’m sure this sounds pretty crazy low um and you got to know that this is not an hindrance for me everything is pretty comfortable um and i’m still able to spend that low and so if you look at a typical person i try to estimate what a typical person would actually use in my same situation

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With all these different bills on the second column here um water would be the same trash well they wouldn’t reduce it so that it’ll still be $30 a month gas and electric maybe they’re not watching it as much so maybe it’ll be a hundred dollars which is pretty typical per month for that they might have a student loan because they’ve been spending um you know at

A medium level like normal people and so they haven’t had the money to pay off the student loan maybe so so be yeah i assume about two hundred fifty maybe to even four hundred dollars a month for a student loan and you might have a car payment of roughly three hundred dollars let’s just say cellphone payments are typically ninety dollars a month okay instead i

Pay the 15 landline maybe there’s a landline so maybe you still have a landline like you have that hanging around still which is consuming your resources of $30 a month you might have cable maybe you really need to watch sports hundred dollars a month there i don’t watch sports so i don’t have a need for that car insurance maybe you still have to weigh a hundred

Dollars a month car maintenance same thing maybe even more because if you don’t repair your own car like i do then it might be more 200 300 or whatnot because when i take my car they charge you a lot and for gas if you’re not getting the five percent cashback you are paying a little bit more on the gas food expenses maybe you’re not as efficient with the food in

Terms of not wasting food because if you just don’t waste any food you save a lot of money you plan your meal accordingly so that you’re actually eating everything in the fridge just doing that in itself um will save you a lot of money and then maybe they go out to fancy restaurants and a lot more than i do i’ve actually found that me going to a whole bunch of

Restaurants there’s a lot of msg about one out of four times i go to a restaurant i might not feel well one reason or another too much salt not clean that just kind of keeps me not really wanting to go to restaurants there are good restaurants there are once i have free clean often and i would i would be a frequent goer of the same restaurant over and over again

Because i know i like the food there it doesn’t make me feel ill and so i would be a repeat customer and clothing go go shopping clothing once in a while $200 gadgets now maybe you spend a little bit more on that and let’s just say the others is the same you come down to a total of thirty four thousand dollars and then you add in housing so for a typical person in

My same situation instead of spending forty k a year you spend sixty k here now you can imagine that increasing your income your side income in order to cover that will be that much harder so reducing your expenditure is one of the really main factors that got me to be able to say 100% of my income i hope me breaking it down into specific details on line by line

For my expenditure helps a lot of you look at your expenditure in a different way don’t forget to give me a like on this video and remember you can go down in the video description below to check out the audible link to get that intelligent investor book that which helped me increase my investment income comment down below you know how many percent of your income

You’re actually saving and don’t forget to subscribe over here thanks for watching

Transcribed from video
How I Saved 100% of My Job Income | BeatTheBush By BeatTheBush

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