Meet matt and scott they're the same age work the same job and make the same
amount of money both men have average iqs have no inherited wealth and while
one continues to plunge deeper into financial despair the other is building
life-changing wealth one day at a time but how could the two men be in such
different financial positions you may be wondering let's find out now it's the
end of the work week and matt is excited for one he's looking forward to getting
shitfaced with his friends at the bar but more importantly fridays are lottery
night and matt has spent a hundred dollars on this week's draw when 7 pm
arrives the news announces this week's winner and despite buying endless
amounts of lottery tickets none of mats are a winner for the 25th week in a row
that same night matt was also at home but instead of sitting on the tv waiting
on lottery numbers to be announced scott took his 100 allowance and bought a new
online course scott hopes that this newfound knowledge will be his ticket to
building a side hustle that will take him further down his financial freedom
highway so the first expense all rich people avoid are lottery tickets and
other prize related games the next morning both men wake up to start their
weekend at 10 a.m matt sits up in bed mindlessly scrolling through his phone
checking out girls on instagram then after an hour of doom scrolling he
starts this saturday with three hours of world of warcraft raiding dungeons
collecting shiny armor and gold coins that of course every girl on tinder
would swoon over just kidding scott on the other hand wakes up at 7 00 am on
saturday morning after a full eight hours of sleep has a big bowl of cardio
for breakfast as he goes out for a run now scott used to be the type of person
to spend endless hours on his phone and playing video games however he now knows
that time is the most precious resource and that life is the best game to play
when you're leveling up your own character and not one on a digital
screen so the second expense all rich people avoid is the expense of wasted
time aftermath's bout of gaming he decides to peel himself off to the
computer and get his errands done for the week the first stop is a grocery
store matt mindlessly wanders through the aisles throwing every piece of junk
food he can find into his cart matt truly wants to adopt the gamer lifestyle
which is best captured by a died of mountain dew and doritos while passing
through the isles matt spots scott and sees him meticulously picking out his
food items for the week scott knows the cost of eating unhealthy food scott used
to be overweight and not only did this hinder his self-confidence but made
running every day 10 times harder not to mention all that junk food made it hard
for scott to think straight as he was constantly crashing from all the sugar
he was consuming however after cutting out all the [ __ ] from his diet scott
performs better in his fitness and work activities which he attributes to his
wealth growing larger by the day so the third expense all rich people avoid is
the expense of junk or unhealthy food after picking up his incredibly healthy
list of groceries scott heads to the electronics store to pick up a new
computer typically scott makes sure to use his devices as long as possible but
as part of his new course he needs to upgrade his tools to better service
clients and make more money scott has researched which computer he needs and
sought out the best deal when the cashier asks him if he wants to add an
extended warranty to his purchase scott turns him down knowing full well that
most warranties are grossly overpriced and he will likely never get a return on
his money matt also ends up at the electronics store matt doesn't need
anything in particular but as he's walking through the store he sees a
brand new iphone 22x that's come out matt already has the iphone 22 with all
the same features but decides to splurge on the new one anyways because well you
only live once right when the cashier asks him out if he wants an extended
warranty he jumps at the opportunity matt obviously needs to protect all
those important phone numbers he's got in his phone so he signs up for a three
year warranty plan costing half the price of the phone even though he's
never had an issue with any of his iphones in the past so the fourth and
fifth expenses all rich people avoid are impulse purchases and extended
warranties now the final stop on the men's errands is the mall to grab some
new clothes matt is excited because tonight like almost every other saturday
night he's about to get blasted with his friends and even though he knows you
won't be seeing straight by night's end he wants to look his best nonetheless so
matt walks into the mall and sees the supreme story he remembers seeing all of
his favorite influencers on instagram wearing supreme so he walks into the
store buys a 300 shirt and leaves feeling excited to show off his new gear
scott on the other hand is catching up with his old colleague peter that night
scott likes to keep in touch with people like peter because you never know when
you'll want to change jobs and having a strong network is key to making these
kinds of moves so scott walks into h m buys a seven dollar t-shirt scott's been
working out a lot lately so he knows that he'll look good in anything he
wears yes even seven dollar t-shirts so the sixth and seventh expenses all rich
people avoid are trending items and luxury brands saturday night rolls
around and the two men go about their plans matt gets to the bar and instantly
heads over to the atm to take out a wad of cash matt already has his eye on a
few nice ladies at the bar and hopes that if you can buy them a few drinks
they will want to talk to him more and maybe even ask him about his level 65
night elf shaman so matt takes out 200 and gets slammed by a five dollar atm
fee but matt doesn't care because it's only five dollars right scott meets up
with peter the two men catch up about work and life and scott begins to ask
peter for advice about his career he wants to know what moves he should make
next to further increase his skills and hopefully climb the corporate ladder
faster peter shares some of his most sage advice with scott and with this
newfound knowledge scott can sense that a bigger salary is right around the
corner because of how generous peter was with his time scott decides to cover the
bill when the waitress comes with the bill scott pulls out his credit card and
places it down peter asks why he doesn't just take some cash out of the atm
instead and scott explains that he'd rather not pay useless atm fees plus
paying on credit gives him points and rewards that allow him to travel for
free in fact before the two men part scott shares this story of his two week
vacation in italy he took the summer prior that was fully funded by his
credit card points he said that all he had to do was sign up for multiple
credit cards pay them off on time and in full and he got a free vacation out of
it so the eighth expense all rich people avoid are bank and atm fees now it's
sunday funday however this sunday isn't all that fun because it's tax day as
such the two men both spent sunday afternoon crunching away at their
computers filling out an endless amount of tax form when all is said and done
matt looks at his own tax owing and groans that it's over three thousand
dollars he thinks about how many months of world of warcraft subscriptions that
would be and wishes there was some other way that he could save that money and
put it to better use scott also does his taxes on sunday last year scott was hit
with quite the tax bill which made him feel worse than eating five big macs in
one sitting so this year he promised himself he would make an effort to do a
better job in his tax planning efforts as such he made sure to contribute each
and every month to his 401k and because of this at year's end skull was
pleasantly surprised to see that he was actually getting a refund scott rejoiced
because not only did he avoid having to pay tax but his retirement account has
never looked so good either because of this scott plans to fund his retirement
every month on route hopefully returning well before the age of 55 so the ninth
expense all rich people avoid her excessive income taxes fast forward a
year and both matt and scott are told by their boss that their company is moving
to a new city and that they will be required to relocate if they wanted to
keep their job both accepted and began their search for a new place to live
matt starts to review the mls and comes across his dream home it's got a price
tag nine hundred thousand dollars which he admits is a bit outside his budget
but he justifies that he deserves it because he's making a big life move to
appease the needs of his boss so matt goes to the bank to get pre-approval for
his mortgage when there the banker tells matt that the best he can do is offer
him a five percent interest rate on his 700 000 mortgage because his credit well
it kind of sucks matt doesn't care because he wants to have a nice bachelor
pad to bring all the new girls he'll meet back to any signs on the dotted
line the next month matt gets his mortgage bill and nearly faints his
payment is four thousand dollars a month league no money to go with to meet the
girls he so badly wanted to impress scott also peruses the mls and finds a
queen apartment that adequately meets his needs being a single guy suck goes
to the bank to finance the studio apartment in the city the banker is
impressed with scott's perfect credit score and offers him an interest rate of
just 2 scott being the savvy money manager that
he is negotiates down to a 1.5 interest rate and walks away with a monthly
mortgage payment of just 800 with his new salary and a relatively low cost of
living scott is able to go out in the town and pick up all the girls that matt
left behind hey it looks that youtube thinks this next video is the one that
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