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How To Save $100,000 in 3 Years (Starting From $0)

20 February 2025

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HOW TO SAVE YOUR FIRST $100,000:

-Break Down Your Exact Goal
No matter how much you want to save, give yourself a specific goal, decide on a deadline to reach that goal, break it down to the day, and THAT will give you immediate, actionable steps that you can work towards on a daily basis.

-Start Immediately
If you want the highest chance of coming out ahead long term, here’s the secret: You have the MOST MOMENTUM when you’re initially excited about the idea of trying something new. If you can capture this initial momentum - and parlay that into a habit over the next few weeks - you’ll be significantly more likely to reach your end goal.

-Budget Everything
All of you need to do is make a free account with any money-tracking platform, where they aggregate all of your accounts and credit cards into one interface - and from there, you can see exactly how much money is going in - and out - every single day, in real-time.

-Budget Optimization
Here, you can back on EVERYTHING you don’t absolutely need. That’s it. In addition to that, just calling and asking for a discount is all it takes to begin cutting down on your spending.

-Pay Yourself First
Even though this strategy won't work if you’re barley making enough to stay afloat on basic necessities, it DOES work if you have a habit of spending extra money, just because it’s available.

-Increasing Your Income
I’m in the belief that your best opportunity is by taking on additional work at your existing job. See if you could work additional hours, add extra value to the company, undertake more responsibility, push for a promotion, negotiate your salary - all of these could be phenomenal ways to make more money, without completely switching jobs.

-Investing
Even though short term returns are fairly unpredictable, historically the SP500 has averaged about 8% per year over the last 100 years. This means - over time, your savings will begin to compound and grow, doing the heavy lifting for you.

The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://the-real-estate-agent-academy.teachable.com/p/the-youtube-creator-academy/?product_id=1010756&coupon_code=100OFF - $100 OFF WITH CODE 100OFF

My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB

For business inquiries, you can reach me at [email protected]

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice.

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How Much Home You Can ACTUALLY Afford (By Income)

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Get 80% off your first month of Kikoff - Sign up today at https://getkikoff.com/graham to help improve your credit - Enjoy! Let's talk about how much home home you can REALISTICALLY afford in 2025 - Add me on Instagram: GPStephan

*Point increase based on observed VantageScore 3.0 changes for Kikoff customers with starting credit below 600 who made consistent, on-time payments. Current as of February 2024. Payment history & other behavioral factors can impact results. Individual results may vary.

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COST OF HOME WHEN BUYING:

First: Your mortgage.
In most cases, this is broken down between a mix of principle and equity, usually amortized over a period of 15 to 30 years - at which point, your home is paid off, in full.

Second: Property taxes.
This is typically based on a percentage of the purchase price, and it generally ranges anywhere from 0.4% to more than 2% of the property’s assessed value, every single year.

Third, Insurance.
This covers any damage that might happen to your property, and it's required by your mortgage company.

Fourth, Repairs.
In terms of how much this costs, some people use the 1% rule, which says you’ll spend 1% of your home’s value every single year on repairs - while others use the $1 rule, which says you’ll spend $1 for every square foot of livable space, every year.

Fifth, Other.
This encompasses potential HOA costs, landscaping, upgrades, routine cleaning, and every other part of homeownership you never really think of.

THE 28% RULE:
This states that you should spend no more than 28% of your monthly gross income on your mortgage payment, which includes property taxes and insurance. To calculate this, just take your monthly income - multiply that by .28% - and That’s the most you should be spending on housing.

THE 30/30/3 RULE:
No more than 30% of your gross income should go to your mortgage payment, property taxes, and insurance. You should only buy a property when you save 30% of the purchase price in cash (20% down payment, 10% buffer). Only buy a home that costs 3x your annual salary, maximum.

THE 9.35% RULE:
Essentially, the cost of ownership is largely going to consist of a 7% mortgage, 1.1% average property tax, 1% for repairs and maintenance, and 0.25% everything else - giving you a rough total of 9.35%. This means, you could take a $500,000 home - calculate 9.35% of that - and all of a sudden, you can see that it’ll end up costing you $46,750 per year, or $3895 per month, if you wanted to own it.

BUYING VS RENTING:
-If you don’t intend to stay in your home longer than at LEAST 7 years, renting will usually be cheaper.
-Renting is better if you can make a higher return from your down payment.
-Renting is better if YOU believe the market is going to go down, or - will stay completely flat.
-Renting is better because you have very little responsibility and upfront cost.
-Renting might be significantly cheaper than owning

HOWEVER:
-Long term (10-15+ years), owning tends to be the better choice.
-By owning, you’ll lock in your monthly mortgage cost until your home is paid off.
-By owning, there’s a psychological benefit that it’s “yours.”

The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://the-real-estate-agent-academy.teachable.com/p/the-youtube-creator-academy/?product_id=1010756&coupon_code=100OFF - $100 OFF WITH CODE 100OFF

My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB

For business inquiries, you can reach me at [email protected]

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice.