[Music] all right, you ready for the next question? Yes, ma'am. Got another one queued up here from psil. It says, Hey, I'm almost 19 and going through college. I'm saving 6% of my summer earnings, but I'm unable to save during the school year. Should I try to save more despite my friends and family starting to say I'm miserly? So, I mean, he's on the edge here, and I feel like you two are the perfect people to speak to this. So, what do you have to say? 19, summer job, saving 6%. That is so awesome. I love, yeah, we, you hear us talk about 25%, and that's amazing, but man, you're still like, you're still in student phase. You haven't even made it to like, and look, you're 19, so you're an adult. I get that, but like, you haven't made it to like, adult phase yet, and you're already practicing the behaviors that are going to play out so well for you in the future. Don't be

upset with yourself. Don't fight yourself, especially if what you're doing is you're working over the summer so that you can pay for the school year. I have a lot of friends who had to do that same thing. That's okay; that's the season of life that you're supposed to be in. Just the fact that you're saving 6% is amazing. If you haven't done this, I want you to go to moneyguy.com, and I want you to check out a wealth multiplier tool, and I want you to type in whatever that 6% was. Type that in and see what your wealth multiplier at age 19 is, and see what just that 6% is going to turn into by the time that you get to 65, and it's going to blow your mind. I think that's awesome. Right now, you are building an excellent habit that will carry you through the rest of your life, so long as you don't let it flip to the dark side. That's right; that's what I was exactly. That's a great segue. I want to make

Sure, you're a financial mute, not a financial miser, 'cause we're maximizers, we're not misers. And so, I want to, I have a challenge for you. I want you to kind of sit down, you know, pen to paper or spreadsheet, 'cause you're older than me, or younger than me, I should say, so I'm the one using pen and paper. But, um, I want you to take an inventory of your life and really think about, seriously, at 19, are there any key, like, you have regrets or memories that aren't being made? Are you not getting invited out because everybody thinks you're a complete tightwad? Are you doing any behaviors that are detrimental to your happiness and relationships? That's really the key, the key indicator. If the answer is no, I'm living my best life, I'm happy, I'm making memories. Because don't be surprised, even doing good behaviors like saving 6% of your summer earnings, some people are going to scoff at that.

because it's just so unusual to be disciplined with money. Remember, every year, bank rate comes out with the data of 60. It's right around 60%. I think this year, it's 57% or 56, close to 60% of Americans can come up with $1,000 for an emergency, not PS. So, you can quickly see that the majority of Americans walking the streets, they think that any type of savings is probably more than what they're doing. So, don't be surprised if you get a little pushback, but you do have to know yourself. It's nothing wrong with getting pushback, but be honest with yourself. If you start with your loved ones and people that you care about, the relationships, and even your own happiness factor of building memories by each decade, because you're only going to be a teen for so many years, you're only going to be in your 20s for that 10 years. You don't want to have regrets when you get to your 40s and you

know that's why I did an interview yesterday, and they brought up Die with Zero, you know, and what that book pushes is that for a lot of successful people, you get to your 40s and 50s, and you're like, What was I so worried about when I was younger? The thing I always question is what are the behaviors of the moments that create success. When I look at my own life, I don't know if it was the super discipline in my early 20s or was it taking this risk here. I think they all kind of go together to a life well-lived. The balance is somewhere; it's not the extreme of, you know, Die with Zero. It's not the extreme of Dave telling you not to do anything until all the debts paid off. I think that the real answer and the maximized answer is right in between, and that's what we've tried to load you up. We give you all the math, but we also give you

the mindset and be honest with yourself. PSI style and make sure you have that mindset down with the math.

Friends and Family Say I’m Becoming Miserly as a 19-Year-Old!

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Friends and Family Say I’m Becoming Miserly as a 19-Year-Old!

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