Living in poverty but drives a Tesla

Let me outline how I am able to drastically reduct my living costs to below $10,000/year while having a relatively high standard of living. I have my own space, I have utilities, and I drive a Tesla. This is mainly from carefully trimming in areas that are unimportant and using what is available to me.

How’s it going everybody this is btw bush today i’m going to talk about how i personally live below the poverty line and yet drive a tesla this video is sponsored by weibull don’t forget to get your two free shares just for signing up and depositing a hundred dollars check out my referral link down in the video description below now i wouldn’t say i feel like i

Live in poverty because i have a lot of different advantages that allows me to drastically reduce my expenses when i used to work as an engineer about three and a half years ago i meticulously tracked my spending how much comes in how much goes out and roughly forty thousand dollars of it goes out the door twenty two thousand dollars of it went towards mortgage

And eighteen 000 of it went towards my regular daily spending like insurance food everything else but after semi retiring three and a half years later i find that my expenses are actually closer to around ten thousand dollars now this is pretty crazy i plan that some expenses will go up and some expenses will go down but overall net expenses should have been

Down a little bit but i did not expect it to go down this much today’s video i’m going to go over a lot of different expenses what went up according to plan and what went down and a lot more went down than actually went up so the overall net effect was drastically downwards one of the things that drastically went up was actually health insurance no longer will

I receive employer-sponsored health care this to me and to a lot of people is what actually changed them to their day job mine right now is around 360 dollars every single month and i anticipate this is probably going to go up about 60 dollars more every single year so this is gonna be a significant expense going forward another thing that went up is gas and

Electric this is obvious because you’re gonna be staying home more often so you’re gonna use up more electricity and you’re gonna heat the home a little bit more but what was interesting is i participated more in ohm connect and this actually zeroed out my utility costs if you guys are interested in ohm connect for california or texas check out my referral link

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Down in the video description below groceries went down i had better food planning because i knew exactly what i was gonna eat for lunch what i was gonna eat for dinner because of my earlier retirement i had more time to manage my food nothing goes to waste and if nothing goes to waste you save a lot more money compared to people that throws a lot of things away

Home repairs went down drastically because now i have all the time in the world to fix whatever that’s needed including painting the house i might fix the faucet myself the water heater central heaters whatever that breaks i would go and fix myself another thing that went down recently for me and this might surprise a lot of you guys which is internet this is

Something i’m experimenting with and i’m not sure if this will work out especially because i’m doing youtubing i upload a lot of videos but i’ve decided to switch over to cellular only and just cut out the landline internet if you have only one internet connection it becomes a lot cheaper no matter what plan that you use so right now i’m gonna be using mint i’m

Gonna be switching over to the unlimited plan which is 35 gigabytes of 4g lte or 5g and then afterwards it throttles you down to 3g so 35 gigabytes probably won’t work for a lot of people if you watch a lot of high definition videos but for me i don’t actually watch that many videos most of the consumption comes from uploading videos for me personally so the

Internet used to cost 55 right there lop it off no more 55 expenses every single month i used to have a moped and if you have more than one vehicle this is probably a huge expense you only need one vehicle so i killed that off i sold the scooter i killed off the insurance so i no longer have to pay i think it was like ten dollars a month so this is something as

The title said i drive a tesla i spent a significant amount of money buying this car however after 14 months of using this car i never pay for gas anymore and this is a significant savings around two thousand dollars is what i used to pay for gasoline now it just went to zero because instead of filling gas i go to free charger stations or i charge my car with

Free supercharger miles car maintenance has been zero so far so i anticipate the car maintenance is not going to be all that much mostly it’s going to be entire and because i’m semi-retired i don’t commute to work anymore most of you guys that are working from home can also reduce your mileage in your car insurance and reduce your insurance rates that way let

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Me just throw out some ballpark numbers here my car cost seventy thousand dollars model three performance however the car that i was driving before is a porsche boxer it costed me about two thousand dollars in maintenance costs every single year and about two thousand five hundred dollars in gasoline cost so this is four thousand five hundred dollars that i’m no

Longer spending on this old beat up car let’s say i was able to drive this porsche boxster for another 10 years this is 45 000 of spending and instead i’m driving this tesla model 3 performance 70 thousand dollars ballpark numbers here i’m really paying 25 000 for this car if i’m able to drive this model 3 performance for the next 10 years so it really comes down

To how long will my old car would have lasted me let’s say it could have lasted me 10 years and instead of holding on to this really old car and paying four thousand five hundred dollars every single year i get rid of it drive this new car for ten years and possibly it might pay for itself over here in the bay area we have an electronic toll service called fast

Track paid tolls also reduce drastically because i’m not driving everywhere as much anymore so this reduced as well as i said before my expenditure used to be forty thousand dollars i reduced it by twenty two thousand dollars because i no longer pay for mortgage why because before i quit my job i made sure i have enough money to pay off my mortgage and right there

Lopped off 22 000 of the expenses every single year restaurant expenditure also went down now when you go to work you don’t realize you’re spending this much money every single friday you make an excuse i’ve worked all week long i deserve a nice lunch or maybe you just want to go out hang out with co-workers you know keep up the social activity at work and going

Out every single friday is considered minimal already many of my co-workers would go out every single lunch they don’t bring a lunch they eat in the cafeteria or they might go out the new way for me after retiring is not to eat for sustenance you don’t want to eat just because you’re hungry if you’re hungry you eat at home if you go out to a restaurant you’re doing

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It for a single purpose only which is to try something new you want to try something new that might bring you a new experience something that you never had before and you want to only go at the top end restaurants the things that are highly highly rated and if you only go to those then your restaurant spending drastically reduces because the number of times that

You’re going out reduces when i traveled at least before this covert stuff i try to travel on a wednesday i travel midweek and then when i get a hotel to stay i usually do airbnb and i do one week at a time and you get a nice discount that way if you travel during midweek you also get a nice discount on airfares now not only expenses went down there are other

Intangible things that also went down drastically after quitting my engineering job not only do you drive less but what happens when you drive less you get less stress and also the chances of accidents goes down so this is actually good for your health if you are in the car less you don’t get into accidents as much and your chances of fatalities are reduced i

Can’t stress how important this is because this is actually life preserving when i stopped going into the office the amount of times that i got sick every single year from the flu drastically went down in fact the last two years i did not get sick from the flu i did not take a flu shot i did not get sick from the flu simply because i have so much less interaction

From co-workers you’re just not in like a pig pen with hundreds of people in the same office touching doorknobs and stuff and then you know you get sick that way not working obviously dramatically reduce my stress no longer do i get random headaches sometimes in really high stress situations i might even get stomach pains i don’t get that anymore also sometimes

Your sleep might be impaired because of so much things that you’re thinking about before going to sleep you might be so stressed that you don’t fall asleep very easily or i’ve had nightmares before because of whatever work situation now obviously those are gone and i can’t stress enough about not being in the office anymore thanks for watching this video i hope

This gives some light on expenses after retiring don’t forget to subscribe thanks for watching you

Transcribed from video
Living in poverty but drives a Tesla By BeatTheBush

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