Youtuber, Graham Stephan 29 yo making an earning of USD 220k ( RM 919k) a month. He has all the reason to live on a lavish lifestyle, fancy trips with high end hotels, head to toe in designer clothing, dining in fancy restaurants .. But not at all! He is on track making a USD 1.6 Mil ( RM 6.7 Mil ) for year 2019.
He told CNBC that he enjoyed the aspect of not spending money since young. “I end up saving about 99% of my income, just because my income is so high, and I keep my expenses so low”, He added.
He became a millionaire at the age of 26. There are 2 things that he refused to spend ” 1st coffee , the mark up for Starbucks or Coffee Bean is ridiculous”, Stephan said. He can make coffee at home for 20cents (RM 0.80) by getting a large bag in smart & Final with half of the price from other grocery stores.
Secondly, designer clothing. “I just don’t see the point in spending USD700 on Gucci shoes when you could go to Aldo or Call It Spring or H&M and get very similar shoes for one, one-hundredth of the price”, says Stephan.
He also saves money by price shopping for groceries at Trader Joe’s, Ralphs and Smart & Final, and when he dine out, he will share the meal with his girlfriend.
Besides that, he also finds ways to cut down on expenses like housing and transportation. He even rents out the other half of the duplex he owns.
“it basically works out to be a free place for me to live!”
He bought a Tesla Model 3 cost USD35,000 ( RM146k) in April 2019 . But somehow the car was free. He made a YouTube video about the purchase that ended up going viral, so the video itself paid for the car.
“No one is more frugal than me!”
To become a millionaire, “you don’t need to skimp on every purchase,” he adds. “You don’t need to work 12 hours a day. But you do need to think outside the box. What works for me won’t necessarily work for everyone. I don’t think there’s a one-size-fits-all approach, but you do need to think creatively and do something differently than what most people are doing.”
Interesting! Does it work on you too?