Why Should You Live On 10% Of Your Income

0:00I'm a big believer in living on 10% of your income, and before you get triggered, first, you make more money. The second thing is that you spend basically as little as humanly possible. And to give you context to this, the first place that I started renting when I was making $20,000 a month in income, I was splitting a single bedroom in a seven-bedroom house. So, I had seven roommates, and one of them lived in the exact bedroom with me. So, two dudes, and I had my mattress on the floor, and it was the only thing that I owned. I believe in that because one, when you've lived on nothing, you know that it doesn't make you any happier to have more. You also know that you were just as happy when you had nothing, so then you don't have the same risk and fear as you grow, which means you can take the risk that are necessary to grow. And third, you have to learn the discipline of delayed gratification. If you immediately spend your check every month, you'll never learn the discipline of saying no now, so that I can have yes later.