In this personal‑finance video, the presenter argues that the amount you keep matters far more than how much you earn. He illustrates the point with two contrasting case studies: MC Hammer, who earned $33 million in 1991 but filed for bankruptcy five years later, and Theodore Johnson, a UPS worker who never earned more than $14,000 a year yet retired with over $70 million. Using a bucket‑and‑holes analogy, he explains that large “spending leaks” can drain any income, no matter how large. He then cites Peter Drucker’s maxim “what gets measured gets managed” to stress the need for tracking expenses. The presenter’s number‑one tip is to use the Mint app to categorize spending, set budgets, and identify the holes to plug. He ends by inviting questions, encouraging viewers to comment, like, and subscribe for weekly videos.
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Wanna know how I've saved over $90,000 without ever making more than $35,000 a year in my life? In this video, I'm going to give you two examples to illustrate that it matters less how much you make and more how much you save. And at the end of this video, I'm going to give you my number one trick for saving more money. Example number one is MC Hammer. In 1991, MC Hammer took home over $33 million. And in 1996, the dude filed for bankruptcy. Example number 2 is a guy named Theodore Johnson. Now, this is a guy who worked for UPS and never made more than $14,000 a year. In his old age, he retired with over $70 million, which, by the way, if this inspires you, please write a gigantic wow in the comments. So how can this be? A guy who made over $33 million in a single year ends up bankrupt, yet a guy who never made more than $14,000 a year ended up with $70 million. But the answer is simple, and I think this perfectly illustrates my point. It matters less how much you make and much more how much you save. So imagine a bucket being filled by rainwater, right? Over time, the tiny little drops would eventually fill the bucket. Now imagine you wanted to fill the bucket faster, right? And so you've got a garden hose. Would that fill the bucket faster? Of course it would, provided there was no gaping holes in the bottom of your bucket, right? Imagine if you were filling this bucket with a garden hose, but you had a hole in the bottom of the bucket twice the size of the garden hose, right? Like nothing would stay in the bucket, right? And this is the exact same thing that's happening with spending, right? It doesn't matter how much money you are pouring into your bank account if there's a huge spending hole in there. Okay, so let's say you've got holes in your bank account, right? And the question is, how do you plug those holes? How do you save more of the money you're earning? Well, I'll use a quote for this one, and it's by Peter Drucker, and he says, "What gets measured gets managed," and I wholeheartedly agree. Before you can save more money, you've got to know where you're spending it. You've got to know what the holes in your bucket are. It could be going out to eat too much at restaurants, paying for coffees, it could be ATM fees, maybe your rent's too high. Who knows? But the only way you're going to figure it out is if you track it. And this leads me to my number one tip when it comes to saving more money, which is actually an app that you can download on your phone. The app is called Mint. And it will allow you to track your spending. It's way better than the ones you get from your banks because sometimes they categorize things in the wrong way. And with this, you can categorize things yourself. You can label it yourself, you can create budgets, you can set up reminders for bills, a ton of amazing stuff. But the most amazing thing is you're gonna be able to track your spending and you're gonna be able to figure out where the holes in your bucket are. So if you're finding that you're struggling to save money, you feel like you're living paycheck to paycheck, you don't have an emergency fund, try this out. This is step number 1. Download this app called Mint, use it to track your spending, and figure out where you can minimize the damage and sort of patch up the holes in your bucket. Now I'm also really curious if you guys have any questions for me. So if you have any questions around personal finance, investing, saving, that kind of stuff, please leave a comment below. I would absolutely love to to make a video specifically for you on that topic. And as always, if you like this video, give it a thumbs up and subscribe to my YouTube channel for new videos every single Wednesday.
