I'll be your host Attack lead.

And for those of you who don't know me, I am an ex Google Tech lead.

This coffee time with the tack lied.

I'm not giving my level of success.

And as a multi millionaire, I believe that I not only have the credibility but the authority and the right to tell you about how you should and should not save your money.

How you just spend that money and what I'm here to tell you about is why I think that saving money doesn't really work.

Should you be going out and buying $5 lot taste.

Is that okay with that?

I think about that.

And my reasoning for you is that sure it's fine.

Go ahead, go by.

That latter is not really going to make a difference Indian Anyways.

It's really more about other things, though.

You know, For example, if you were to go buy a shirt like this shirt respect attacked Lee shirt What, you gonna go buy a 1995 link in the description below.

Amazing quality is just not going to make a difference in your finances.

But to me, what is really disturbing more is about that hunger you have for their shirt and how it's not going to release upside.

If you don't buy it right, what's going to happen is you're going to steal my other stuff.

You're going to want boots.

You're gonna want shoes, pens, car, right?

You still might want a Porsche a Louis Vuitton back.

You still want the good stuff, that high life.

And so my concern for you is that not by an extinguisher is just not going to solve the root of the problem.

That source of the problem, that hunger, that desire is still there.

And at some point in your life is going to crop up.

If several years from now you go and you buy yourself of the week with on hand back for a few $1000.

That's going to wipe out all of the savings that you've had over the past few years simply because you never really quite soft that initial problem.

So if you wanna sure if you want the shirt, then I recommend you just go buy it and you know who am I to tell you how you can and cannot spend your money.

So to me, saving is really all about the right habits.

And if you can come up with the right habits than over a long period of time, say, throughout your whole life is going to save you from the money.

When example of this is actually your cell phone bill every month, you may be paid $60 for it, and that's fine here and there.

But if you calculate that as someone up over your entire lifetime, we're going to find out that it's actually causing you a ton of money and that's where our sponsor comes in.

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So on the topic of good happens, another good one is to avoid drinking when you go out and I've managed to save so much money.

And it's not just that one time cause, right?

This is something that accumulates day after day, month after month and the over the course of your lifetime, it really starts to add up learning to cook, taking care of your health, choosing your hobbies wisely and so we need to focus your own Are not those one time savings but the savings that can really add up over long periods of time?

And I think that's one reason where if you look at deal sites, these deals eyes, maybe they save you a few bucks here and there.

But they don't really save you that much because it's just a one time thing.

There's no fun to do, but to me, they're not so much a way of saving money as much as just hobby.

I might also suggest that you did your stupid friends of third type of people who pure pressure you into buying high end brands of materials, and they laugh at you.

This is really just a lifestyle decision, a lifestyle choice that can pay dividends over the long term by getting rid of unproductive people in your life.

Now, another tip I have for you here is to understand that there's more than one way to save money.

You can also save time because time is money.

Your time is valuable.

It's worth something, and it's easy for anybody to convert their time into money.

You just pick up a freelance job, go drive some uber cars, going up, work Craigslist.

There's tons of people are willing to pay you for your time for skill.

This labor, really.

And you could make some pretty good money that way.

And so, if you were to just be able to free up a lot of time for ourselves to be able to do these other tasks, then that's another way you can save money.

In fact, so the key here is avoid things that are highly time consuming.

Watching TV is one example of a hobby that is highly unproductive.

When I hear people say that they save money by staging their cable and they switch over to Netflix because it's a few bucks cheaper a month, they haven't saved much at all, Really, because they're still spending all of their time watching TV, and they may even be spending more time than that.

They may have actually lost.

I'm on the lost value that way.

To me, it's not so much about seven few bucks a month But I'm concerned that that habit of watching TV for two hours or three hours and I every single night that's still there, that habit of consumption and wasting tons of valuable time.

That's the elephant in the room that's still there.

What we're really looking here is, given that extra time and money that you're able to save, what are you able to do with that?

And I would say, for most people, one goal is to start a side business, and they could even be freelance work.

But once you have a side business, you're able to take tax deductions on on this stuff.

You're to go buy a laptop with a side business you automatically saved, like 30 to 40% just on the taxes on that stuff.

You know any business expense, you start saving a lot of money on other stuff.

It is better than any deal that you can find online, and you need to keep in mind that $10 spent is not the same as $10 earned due to tax is right.

If you want to go spend $10 you actually have to earn, like, $15 or even $20 for some people Now, another major tip I have for you here is to learn to leverage your family.

A lot of people like to digital families.

They think they're better than them, and they just want to go off and make it on their own.

Be all independent and all that, but you end up wasting tons of money that way.

Your family has a whole bunch of resource is, and you were living free on those.

Resource is before you decided to move out.

And so a lot of your personal expenses, I would say 50 to 100% of your personal expenses don't really need to be.

Their housing is a big one.

It trumps almost everything.

And if you're to live with your parents for a while, you could save so much.

You know, around here in Silicon Valley, housing cause at least 2000 to $4000 a month.

I pay $4000 a month.

Imagine how much money I could save on that.

If I were to just go live with my parents, I could be buying a Tesla every single year and still break, even if I just chose to live at home.

Your family may also have a bunch of appliances, furniture, vacuum cleaners, spare cars.

All of that stuff can be shared these days.

It seems that everybody wants to be a professional chef because it's become consume.

Arise.

You just go to Williams Sonoma.

Everybody wants, Ah, high end that knife set.

Everybody wants their high end pots and pans.

You know, all of this stuff can actually be shared, though.

In reality, if your parents have a really good pot, where pen, you just go borrow that.

If you have a really nice steak, maybe once every month or so and would you want to go try and cook that another tip is really tracking your expenses and I mean, really taking a look at them.

I know a lot of people they don't really check their monthly expenses.

They just kind of haphazardly do it, but really took it.

Look at where money is coming in and where is going out and track each expense and question each one right?

Like as we mentioned before your cell phone bill, that's a pretty big chunk, actually, I would say for a lot of people, it's like 60 to $100 a month.

And you can question that like, think about.

Do you really need to be paying that Netflix is another one?

That which I think a lot of people are paying for, which you don't really need so much right?

Like I don't subscribe to any TV service is.

I just watched some basic YouTube.

I watched a few ads here and there, and that's fine.

It's okay for me.

And I actually enjoy watching advertisements.

Speaking voice check out.

Typically dot dot com, and you can also buy my shirt here.

A few years back, I start to really look at my receipts at grocery stores and realized cookies, granola bars, cereal.

That stuff costs a lot.

Those were some of my biggest expenses.

It would cost, like $10 for a box of cookies.

And for 10 bucks as supermarket, you can actually get like steak or something like that.

So I used mint dot com, which were not sponsored by, but you service is like that.

You can check through all of your transactions across multiple credit cards.

I'm just watching on any outflow of money very carefully, especially because I want this such that any time money leaves, it is intentional.

Another good happy is to learn to resell your stuff.

Anything I buy, I buy with the intention of reselling.

I save all of my boxes.

I kicked the gear, especially electron ICS in good condition, and that regularly go on sites like eBay or Amazon Sellers to reset my stuff.

And then the last tip here is about changing your mind set, which I think is really the core of the problem.

You have to understand that not everything that glitters is go in the sense all of us are already rich compared to people in lower rungs of society.

We just keep wanting more, you know, and that's really endless.

You just keep climbing that ladder of all these Jaguars portions, or if it's clothing you want, Deb, Banana Republic Be so Burberry, Louisville.

You just keep going up that ladder if you want to, and what's really going on is you're getting interference suit that you get yourself into the cycle of consumers and where you just keep wanting and wanting more, and that's the source of the problem.

You need to learn to stop wanting so much stuff, right?

Be focused on what you want.

No way you want and just get that only right.

But you don't want to keep getting yourself into the cycle where you want this.

You want that you just want everything in.

It is really aimless for myself.

I'm not really interested in consuming other people's stuff.

I like the producer side, right?

I like to be the one making this stuff like this shirt, and then I wanna wear this right.

I don't really want to go where?

A Louis Vuitton shirt.

I'm gonna wear my own shirt.

That's a photographer.

I don't want to buy other people's photos.

I want to frame my own pictures.

I take and there's a video producer.

When that Watch TV, I wash my own videos.

So let me put it this way.

To me, saving money is not about being cheap.

Is about the pepper person you will become if you get over taken by consumers and you get out of control that way, right.

If you're always thinking about the latest brands, which car you want, which are you gonna drive, which you you want to buy all the hobbies that you've taken up all of the TV shows and movies, you're gonna go to the concerts, The events is all of that stuff that's going to cause the most damage for you because it's going to consume all of your time and you're not going to be able to produce.

You just become a pure consumer.

At that point, that is the point of saving money.

It is to help you develop the right habits and mindset to avoid becoming a pure consumerist.

So says some limits for yourself and realize that it is not so much about saving a few pennies here and there it is about the lifestyle that you create for yourself.

Let me know your top tips on saving money.

If you like this video of the Lycan subscribe, I'll see you next time.