WEBVTT - Getting Scrappy to Save on Streaming w/ Michael Timmerman #812 0:00:00.120 --> 0:00:03.120 Welcome to Out of Money. I'm Joel and I am Matt, 0:00:03.200 --> 0:00:06.200 and today we're talking about getting scrappy to save on 0:00:06.320 --> 0:00:07.840 streaming with Michael Timmerman. 0:00:27.360 --> 0:00:29.560 So, by my account, I think there are three ways 0:00:29.600 --> 0:00:33.040 to boost your net worth right, so you can invest 0:00:33.159 --> 0:00:36.480 more money, But then remember we are long term investors. 0:00:36.560 --> 0:00:39.479 It takes a while for that compounding to really kick in, 0:00:40.040 --> 0:00:42.800 so you can earn more money, which is a ton 0:00:42.840 --> 0:00:46.159 of fun. Who doesn't like getting promoted, who doesn't like 0:00:46.360 --> 0:00:49.360 earning a fat bonus at work? But again, this can 0:00:49.400 --> 0:00:52.200 take years of grinding it out at the very least 0:00:52.240 --> 0:00:55.040 months of hard work in order to stand up among 0:00:55.040 --> 0:00:57.800 your peers. Or there are changes that you can literally 0:00:57.800 --> 0:01:01.000 make immediately by cutting your expenses in order to save 0:01:01.520 --> 0:01:05.280 more money. That is what we're discussing with our guest today, 0:01:05.440 --> 0:01:08.759 Michael Timmerman and Michael he writes over at his site 0:01:08.800 --> 0:01:11.759 Michael saves dot com. He's got a YouTube channel, he's 0:01:11.760 --> 0:01:14.640 got over twenty five million views, and I think that's 0:01:14.640 --> 0:01:18.120 because he's kind of like a human guinea pig where 0:01:18.160 --> 0:01:20.880 he's working on our behalf. He's tested out products and 0:01:20.920 --> 0:01:23.679 services to make sure that we're all getting the best 0:01:23.680 --> 0:01:26.280 deal possible. Michael's kind of like the Tim Ferriss of 0:01:26.640 --> 0:01:29.520 personal finance nerds. But Michael, we appreciate you coming on 0:01:29.560 --> 0:01:30.399 the podcast with us. 0:01:30.360 --> 0:01:33.800 Today, human guinea pig. I like that. Thanks for having me, Matt, 0:01:33.800 --> 0:01:34.800 Thanks for having me. Joel. 0:01:34.959 --> 0:01:36.880 I think you should add that to your bio now, Michael, 0:01:37.080 --> 0:01:38.199 just considering. 0:01:37.800 --> 0:01:39.240 Absolutely it goes straight the top. 0:01:40.319 --> 0:01:40.600 Well. 0:01:40.880 --> 0:01:43.200 And by the way, Michael and I have worked used 0:01:43.200 --> 0:01:45.640 to work together for a lot of years, and now 0:01:45.680 --> 0:01:47.600 Michael's gone off to do his own thing, so so 0:01:47.640 --> 0:01:48.840 it's kind of fun to reunite here. 0:01:48.840 --> 0:01:49.160 Michael. 0:01:49.280 --> 0:01:51.680 The first question, as you know that we ask everybody 0:01:51.680 --> 0:01:54.520 who comes on the show, is what's your craft beer equivalent? 0:01:54.640 --> 0:01:57.200 Meaning what is it that you're spourging on while you're 0:01:57.240 --> 0:01:59.520 also doing the smart thing with your money, you're saving 0:01:59.520 --> 0:02:01.600 and investing. So what's your craft beer equivalent? 0:02:01.640 --> 0:02:01.960 My friend? 0:02:02.000 --> 0:02:04.960 You know, I knew this question was coming, but it's 0:02:04.960 --> 0:02:06.680 a little hard for me because I think I have 0:02:07.320 --> 0:02:10.280 a few craft beer equivalents. They might not be quite 0:02:10.320 --> 0:02:15.240 as frugal as hugual. It's not the one thing, no, 0:02:15.360 --> 0:02:18.160 I know, the one thing I'd say as my craft 0:02:18.200 --> 0:02:21.680 beer equivalent is has to do with plane tickets, and 0:02:21.720 --> 0:02:26.520 I've been researching a couple upcoming trips. When I'm searching 0:02:26.560 --> 0:02:29.960 on Google flights, I can never get that cheapest fare 0:02:30.040 --> 0:02:32.480 as much as I really want to. And I think 0:02:32.520 --> 0:02:34.040 probably a lot of people can relate to this. So 0:02:34.040 --> 0:02:36.919 I've got three things I'm not going to like compromise with. 0:02:37.280 --> 0:02:38.799 I want to make sure I'm either in a window 0:02:38.960 --> 0:02:42.840 or the aisle. I don't want to board last. And 0:02:42.919 --> 0:02:46.520 then there's a couple just airlines that I'll try to avoid. 0:02:46.720 --> 0:02:48.560 So those are the things. So when I'm doing this search, 0:02:48.600 --> 0:02:50.240 I just figure I'm going to have to pay an 0:02:50.240 --> 0:02:53.040 extra maybe like thirty dollars. 0:02:52.600 --> 0:02:54.040 Based home what the prices. 0:02:54.120 --> 0:02:58.040 And you live in a market where Spirit is heavy. 0:02:58.400 --> 0:03:00.000 But I'm guessing this means. 0:03:00.040 --> 0:03:02.120 You don't fly no Spirit, no Frontier, and I getting 0:03:02.120 --> 0:03:03.040 those sweet deals. 0:03:03.080 --> 0:03:03.639 That's true. 0:03:04.040 --> 0:03:07.239 The nearest airport to me is all about the budget airlines. 0:03:07.240 --> 0:03:11.120 Their Spirit, Frontier, Southwest, a lot of Jet Blue. I 0:03:11.160 --> 0:03:13.360 will fly Spirit, but then that's kind of where this 0:03:13.440 --> 0:03:16.120 kicks in. It's like length of the flight matters. If 0:03:16.120 --> 0:03:20.200 it's five hours, I'm probably not gonna be sitting in 0:03:20.240 --> 0:03:21.880 one of those tight Spirits. 0:03:21.919 --> 0:03:24.000 But no Southwest our favorite. 0:03:24.080 --> 0:03:26.600 Oh no, I mean I'll it just depends. It depends 0:03:26.600 --> 0:03:28.360 on the flight jet Blue, I will fly a lot. 0:03:28.400 --> 0:03:29.880 How fancy are we getting here, Michael? Are you ever 0:03:29.919 --> 0:03:32.440 doing like live flat beds across the Atlantic kind of thing? 0:03:32.639 --> 0:03:33.200 Absolutely? 0:03:33.240 --> 0:03:35.560 Not so for jet Blue is a good example. I 0:03:35.640 --> 0:03:37.920 think it's like basic. Those are the ones that I 0:03:37.960 --> 0:03:41.040 can't do. But then when it's that, I think it's blue. 0:03:41.480 --> 0:03:44.520 That's when I'll go for Jet Blue. I won't be 0:03:44.560 --> 0:03:47.040 the last to board. I can bring on a bag, 0:03:47.080 --> 0:03:49.360 I put everything in the carry on, and then I 0:03:49.360 --> 0:03:50.360 can choose my seat. 0:03:50.600 --> 0:03:50.960 That's it. 0:03:51.040 --> 0:03:53.480 That makes sense. Okay, Michael, I know you and Joel, 0:03:53.560 --> 0:03:56.040 y'all go back. You can trade war stories after we 0:03:56.920 --> 0:03:59.280 hit hop on the recording. But I get the impression 0:03:59.280 --> 0:04:02.560 that you've been for a long time. You are savvy 0:04:02.600 --> 0:04:05.480 with how you handle your money. What brought that about? 0:04:05.520 --> 0:04:06.760 When did that begin in your life? 0:04:07.040 --> 0:04:07.280 You know? 0:04:07.720 --> 0:04:10.600 I think it started for a lot of people who 0:04:10.840 --> 0:04:14.440 really get into this space with their childhood. My role 0:04:14.560 --> 0:04:18.360 model was my grandmother in particular, and she was always 0:04:18.360 --> 0:04:20.880 the one who really had it together with money. She 0:04:21.880 --> 0:04:24.800 was not wealthy, but she was comfortable, and it was 0:04:24.839 --> 0:04:27.680 because of the actions that she took, so I kind 0:04:27.680 --> 0:04:30.800 of looked up to her and like modeled myself after her. 0:04:31.320 --> 0:04:33.720 I even during college, I lived with my grandmother and 0:04:33.720 --> 0:04:37.279 it commuted to college to save money. But just those 0:04:37.400 --> 0:04:40.320 couple of years where we did that, I think that's 0:04:40.360 --> 0:04:43.520 where I learned a lot about personal finance. That's also 0:04:43.600 --> 0:04:47.240 where I got my introduction to Clark Coward, which is 0:04:47.240 --> 0:04:50.760 how I know Joel because I on the drive back 0:04:50.800 --> 0:04:53.600 and forth to school, I would listen to Clark's radio show. 0:04:53.800 --> 0:04:55.760 So it was like twenty some years ago. 0:04:55.880 --> 0:04:58.040 So is that one two punch Grandma and Clark Coward? 0:04:58.120 --> 0:05:01.159 Yeah, Grandma and Clark in my late scenes. 0:05:01.720 --> 0:05:06.039 Okay, So with your grandma, I'm curious was it more osmosis? 0:05:06.160 --> 0:05:08.200 Was it like the way she lived or was she 0:05:08.360 --> 0:05:11.880 like offering verbal instruction too. Were you guys having discussions 0:05:11.880 --> 0:05:14.840 about money or was it just like dang, I see, 0:05:14.960 --> 0:05:17.120 grandma seems to have beyond to something and kind of 0:05:17.120 --> 0:05:18.919 the way she handles money, the way she lives, the 0:05:19.200 --> 0:05:19.800 silent type. 0:05:19.839 --> 0:05:20.599 I guess yeah. 0:05:20.640 --> 0:05:23.479 I mean, I don't remember having too many discussions about it. 0:05:23.800 --> 0:05:25.800 I do remember one thing I had. One of my 0:05:25.839 --> 0:05:30.359 first jobs, I was a waiter, at a Denny's in 0:05:30.400 --> 0:05:33.120 a resort community, and I would come home from work 0:05:33.120 --> 0:05:34.920 every day with a stack of dollar bill So this 0:05:34.960 --> 0:05:38.719 is before people were leaving credit card tips, and she 0:05:38.800 --> 0:05:40.640 would ask me to hand over my money and she 0:05:40.680 --> 0:05:43.760 would count my tips and like if I had over 0:05:43.800 --> 0:05:47.120 one hundred dollars, we'd like celebrate. So like that was 0:05:47.200 --> 0:05:49.599 kind of, like, I guess, a positive reinforcement at an 0:05:49.680 --> 0:05:52.920 early age. I don't remember a whole lot of conversations, 0:05:52.960 --> 0:05:55.479 but I guess the way it was just the way 0:05:55.480 --> 0:05:57.240 that she lived and the way she led, and she 0:05:57.400 --> 0:06:01.320 was the just really solid, dependable adult in my life 0:06:02.240 --> 0:06:05.119 and at a time when there was like other stuff 0:06:05.160 --> 0:06:07.440 going on with some of the other other adults. 0:06:07.920 --> 0:06:11.240 So just just a really great mentor. 0:06:11.040 --> 0:06:13.000 Just a great role model. The ability for her to 0:06:13.680 --> 0:06:17.560 aside from being a human teller machine like counting up 0:06:17.560 --> 0:06:20.120 your bills. I love that that she celebrated that with you. 0:06:20.160 --> 0:06:22.559 What a great way to kind of reinforce not only 0:06:22.600 --> 0:06:25.040 the fact that you're making and hopefully saving, but that 0:06:25.080 --> 0:06:27.400 you're just I don't know, doing a good job. It's 0:06:27.440 --> 0:06:30.080 like some additional fruit of your labor that's being that 0:06:30.120 --> 0:06:32.320 you're able to celebrate there together. Yeah, I like that, 0:06:32.400 --> 0:06:34.880 but sorry for calling you that human guinea pig. 0:06:34.760 --> 0:06:37.440 By the way, actually pretty accurate. 0:06:37.640 --> 0:06:40.919 Yeah, because it seems like you have tried every financial 0:06:40.960 --> 0:06:43.400 tool out there, like you tried wineab for a while. 0:06:43.600 --> 0:06:47.000 It sounds like you liked it ultimately, though it seems 0:06:47.000 --> 0:06:49.479 like you went with your own Google sheets you like. 0:06:49.839 --> 0:06:51.880 I don't know it was it the customization of creating 0:06:51.880 --> 0:06:53.880 your own thing, but it seems like you based it 0:06:53.960 --> 0:06:57.799 on like the wine ap principles. Can you share about 0:06:57.880 --> 0:06:59.480 how it is that you budget and keep up with 0:06:59.520 --> 0:06:59.919 your spending? 0:07:00.000 --> 0:07:02.440 Well, I think this is kind of timely because I 0:07:02.480 --> 0:07:07.400 guess mint has just shut down and I use that 0:07:07.520 --> 0:07:10.720 for a whole lot of years, and then I started 0:07:10.800 --> 0:07:13.400 kind of looking at how I thought that wasn't working 0:07:13.440 --> 0:07:15.880 so well for me, and I guess the process with 0:07:16.320 --> 0:07:19.160 that In similar apps like it, I would just open 0:07:19.240 --> 0:07:21.480 up the app and see a reflection. 0:07:21.680 --> 0:07:23.440 It was like looking in the mirror, just like how 0:07:23.520 --> 0:07:24.200 are you doing? 0:07:24.800 --> 0:07:29.160 Whereas whine app, I think that system and the four 0:07:29.280 --> 0:07:32.040 rules it helps you really kind of train yourself to 0:07:32.080 --> 0:07:35.160 be more proactive I think with your money. So the 0:07:35.200 --> 0:07:37.360 way I adapted it is I really I mean my 0:07:37.480 --> 0:07:41.480 issue is I'm not crazy about a subscription service for 0:07:41.800 --> 0:07:43.880 a budgeting app, and I know a lot of them 0:07:44.120 --> 0:07:48.200 work that way for various reasons. But with the Google Sheets, 0:07:48.200 --> 0:07:50.120 I can do the same thing. And the key for 0:07:50.160 --> 0:07:53.480 me is really just before I buy anything, I open 0:07:53.560 --> 0:07:57.040 up the Google Sheets app, I check my categories, see 0:07:57.040 --> 0:07:57.480 what I've. 0:07:57.320 --> 0:07:59.720 Got left to spend for the month, and then make 0:07:59.760 --> 0:08:01.520 the or just log it right away. 0:08:01.880 --> 0:08:05.720 I always have that opportunity to kind of be like, Okay, 0:08:05.720 --> 0:08:07.160 do I really need to buy this? 0:08:07.400 --> 0:08:09.480 Do I want to buy this? Like it's a. 0:08:09.520 --> 0:08:12.360 Check on yourself that I don't think you necessarily get 0:08:12.480 --> 0:08:15.320 with the tools where you're just like I guess, putting 0:08:15.360 --> 0:08:18.400 everything on your credit card and then logging in to see, 0:08:18.600 --> 0:08:20.440 all right, what was the damage for the month? 0:08:20.680 --> 0:08:24.320 Sure, yeah, there's you're spending on a delay like that 0:08:24.440 --> 0:08:28.280 is the downside of maximizing the different benefits that you 0:08:28.320 --> 0:08:31.120 get through using credit cards, which were huge fans of. 0:08:31.200 --> 0:08:33.760 But the ability for you to see sort of like 0:08:33.880 --> 0:08:38.960 that timely in the moment feedback that's huge. And this 0:08:39.000 --> 0:08:40.760 is something that you've been able to kind of work 0:08:40.800 --> 0:08:44.400 into your general workflow, like you've got a weekly financial checklist. 0:08:44.520 --> 0:08:47.440 I guess one of the things, having been in writing 0:08:47.480 --> 0:08:50.680 about money since I guess it's now been twenty ten 0:08:51.120 --> 0:08:52.839 is one of the things people say to you is like, oh, 0:08:52.880 --> 0:08:56.080 you must be obsessed with money, and I'm not, And 0:08:56.120 --> 0:08:58.400 I really don't spend a whole lot of money on 0:08:58.480 --> 0:09:03.200 the budgeting, even though I'm logging those transactions with every purchase. 0:09:03.600 --> 0:09:05.079 So all I do is I set aside a few 0:09:05.080 --> 0:09:08.640 minutes on Fridays in the morning, I check to see 0:09:09.240 --> 0:09:12.760 how all my account balances are. I pay my credit 0:09:12.760 --> 0:09:16.000 cards off every week, and then I just look back 0:09:16.080 --> 0:09:18.760 on that budget to see if there's anything that I missed. 0:09:19.040 --> 0:09:22.080 But since I'm logging everything in real time as I spend, 0:09:22.640 --> 0:09:26.000 I don't really usually find any difference between what I 0:09:26.040 --> 0:09:28.840 put on the credit cards and then what's in the budget. 0:09:28.880 --> 0:09:30.840 I like that when you have a system, you don't 0:09:30.880 --> 0:09:32.720 have to obsess over it, right, And so that's like, 0:09:32.760 --> 0:09:36.080 I think it's a really important takeaway there. On the 0:09:36.120 --> 0:09:38.319 guinea pig note, you're being kind of a guinea pig 0:09:38.400 --> 0:09:41.000 right now in a way. We talked about this right 0:09:41.040 --> 0:09:44.240 before we started recording, that you're seeking to earn extra money, 0:09:44.480 --> 0:09:47.440 but it also still allows you flexibility. I think gigwork 0:09:47.520 --> 0:09:49.800 is something Matt and I have talked about that lots 0:09:49.800 --> 0:09:53.720 of times. Especially if gigwork, if that's your main source 0:09:53.760 --> 0:09:56.280 of income, it's probably you're just training time for money 0:09:56.280 --> 0:09:58.360 and it's probably not the best move you're ever the 0:09:58.400 --> 0:10:00.600 long haul. But I really actually kind of like approach 0:10:00.840 --> 0:10:02.640 to some of the gigwork that you're doing right now. Michael, 0:10:02.640 --> 0:10:03.640 can you talk about that well? 0:10:03.640 --> 0:10:04.280 I agree with you. 0:10:04.360 --> 0:10:07.360 I think a lot of the gigwork is trading time 0:10:07.400 --> 0:10:09.839 for money. And there's a couple of things that I've 0:10:09.880 --> 0:10:13.880 done just because I've got some things I'm saving up for. 0:10:14.120 --> 0:10:16.920 Just like everyone listening to this, in my case, it's 0:10:16.920 --> 0:10:19.560 something I'm not really excited about. I have to get 0:10:19.600 --> 0:10:22.200 a new fence, So I've found all these ways to 0:10:22.280 --> 0:10:24.440 kind of like motivate myself to save up for that, 0:10:24.600 --> 0:10:27.960 and one of them has been with gig apps and 0:10:28.040 --> 0:10:32.120 side apps. Rover's been the most successful for me. It's 0:10:32.120 --> 0:10:35.000 probably going to depend on where you live. Where I live, 0:10:35.120 --> 0:10:38.640 there's just a ton of demand for people who can 0:10:38.840 --> 0:10:42.200 take care of pets, particularly if you have a single 0:10:42.240 --> 0:10:45.200 family home and you can care for the pets at 0:10:45.240 --> 0:10:45.840 your house. 0:10:46.760 --> 0:10:49.280 So that's kind of what's worked out and based on. 0:10:49.480 --> 0:10:50.920 Is this why you need a defence by the way, 0:10:50.960 --> 0:10:52.160 so you can watch these animals. 0:10:52.240 --> 0:10:53.199 It's actually an investment. 0:10:53.320 --> 0:10:56.120 YEA. Yeah, I've got a fence, but it's falling down, 0:10:56.440 --> 0:10:58.880 so I know that I've got to like replace replace 0:10:58.920 --> 0:11:01.079 the fence. But I guess it kind of is an investment. 0:11:02.120 --> 0:11:04.679 I don't really see the gig app as a forever thing, 0:11:04.840 --> 0:11:08.719 but it's meeting a demand that is needed in the community, 0:11:09.040 --> 0:11:10.920 and I think that's probably the best way to go 0:11:10.960 --> 0:11:13.320 when you're looking at the gig apps is to think, well, 0:11:14.000 --> 0:11:16.400 do I want the easiest thing for the quickest buck, 0:11:17.000 --> 0:11:19.640 or do I want to look at something that might 0:11:19.720 --> 0:11:23.439 have a higher return because there's more people in your 0:11:23.480 --> 0:11:26.000 local area who need those services. 0:11:26.160 --> 0:11:27.679 There's a ton of apps out there. 0:11:27.520 --> 0:11:30.600 Like thumbtack and if you're able to do to provide 0:11:30.640 --> 0:11:34.440 like you know, powerwashing or there's lots. 0:11:34.240 --> 0:11:35.880 Of ways to make money through these apps. 0:11:36.040 --> 0:11:38.200 And the beauty of the pet sitting apps with Rover 0:11:38.440 --> 0:11:41.760 is that you can take in animals, take care of them, 0:11:41.840 --> 0:11:45.360 but also be doing other stuff from your house. Like 0:11:45.400 --> 0:11:48.920 so for me with what I do with the YouTube channel, 0:11:49.000 --> 0:11:51.480 I can be editing a video and also caring for 0:11:51.520 --> 0:11:51.840 a pet. 0:11:52.400 --> 0:11:54.520 Okay, I thought you're talking about like you're one of 0:11:54.559 --> 0:11:57.400 those guys and you've got like fifteen dogs on a leash, 0:11:57.520 --> 0:12:00.160 but you're also like filling out on your phone like 0:12:00.320 --> 0:12:02.840 as you're walking those that the ultimate multitask. 0:12:03.000 --> 0:12:05.960 I'm not gonna and I did try all those those 0:12:06.000 --> 0:12:08.480 survey apps at one point. I think when I'm down 0:12:08.520 --> 0:12:12.960 to in terms of the kind of make money, save 0:12:13.040 --> 0:12:16.280 money apps, at this point, I still use iboughta that's 0:12:16.280 --> 0:12:20.439 a grocery one. I use Fetch that's also a grocery one. 0:12:20.960 --> 0:12:23.520 And this is more of a savings not an earning one. 0:12:23.559 --> 0:12:25.360 But have you guys ever talked in the show about 0:12:25.400 --> 0:12:26.160 too Good to Go? 0:12:26.280 --> 0:12:26.520 Yeah? 0:12:26.559 --> 0:12:29.160 Oh, is that that's the meal leftover meal apps? 0:12:29.200 --> 0:12:29.320 Right? 0:12:29.360 --> 0:12:32.200 Go pick yourself up some crossanltics that they're getting ready to. 0:12:32.160 --> 0:12:35.000 Talk about that app is like my favorite, and I've 0:12:35.040 --> 0:12:38.440 I've found so many great places on there. I know 0:12:38.480 --> 0:12:40.360 it's going to depend on where you live, but it's 0:12:40.400 --> 0:12:43.440 like five dollars and you could have like a ton 0:12:43.480 --> 0:12:43.800 of food. 0:12:44.120 --> 0:12:46.160 Yeah. I mean so basically, like you're talking about the 0:12:46.200 --> 0:12:50.200 difference here between active versus passive ways of earning money. 0:12:50.200 --> 0:12:53.280 And so obviously these are all more active, active ways, 0:12:53.600 --> 0:12:56.040 and it's important to kind of prioritize, and granted we 0:12:56.080 --> 0:12:57.920 will talk. I kind of led into this whole thing 0:12:57.960 --> 0:12:59.880 talking about ways that you can save money, because cutting 0:12:59.880 --> 0:13:01.920 your expenses that's like the most immediate thing. But you 0:13:01.960 --> 0:13:03.720 have highlighted some of the different ways that you can 0:13:03.840 --> 0:13:07.679 immediately make money. But like I said, these are all 0:13:07.679 --> 0:13:11.080 more active ways of generating income. But a passive way 0:13:11.440 --> 0:13:16.280 that you've shown some remarkable success is via your YouTube channel. 0:13:16.640 --> 0:13:18.960 You've done well there and like you call yourself an 0:13:19.040 --> 0:13:22.880 unlikely success story, share with us how that channel came 0:13:22.880 --> 0:13:24.600 about and how you're doing over there. 0:13:24.760 --> 0:13:26.839 Well, I mean, so here's the truth of how the 0:13:26.920 --> 0:13:31.000 channel came about. This actually ties into my full time 0:13:31.080 --> 0:13:34.680 job that I was working. I saw an opportunity for 0:13:34.840 --> 0:13:38.480 us to get into video when I was working for 0:13:38.640 --> 0:13:42.040 Clark Howard. They had a channel with a ton of videos, 0:13:43.120 --> 0:13:45.320 but I saw a different way to do it. But 0:13:45.400 --> 0:13:47.560 I kind of wanted to test it out because I 0:13:47.720 --> 0:13:51.320 wasn't really sure that my managers were all that into 0:13:51.360 --> 0:13:54.560 the idea. So I just started putting up random videos. 0:13:55.080 --> 0:13:58.680 Some of my oldest videos were just about weight, just 0:13:58.720 --> 0:14:01.079 what we've talked about, like some of these apps and 0:14:01.280 --> 0:14:02.240 ways to save money. 0:14:02.280 --> 0:14:05.120 I talked about how I paid off my mortgage. 0:14:04.600 --> 0:14:07.480 On one of the earlier properties that I lived in, 0:14:08.240 --> 0:14:10.720 and things just kind of took off. And I also 0:14:10.840 --> 0:14:14.720 had some of that content that I do now, which 0:14:14.760 --> 0:14:17.959 is the testing of the streaming phone plans internet services. 0:14:18.400 --> 0:14:22.600 So it was really I've just an experiment for work. 0:14:23.320 --> 0:14:26.400 I never expected some of those videos to take off. 0:14:26.440 --> 0:14:29.360 I think the mortgage video has four hundred and fifty 0:14:29.360 --> 0:14:32.080 thousand views, So that's an example of a I sat 0:14:32.120 --> 0:14:34.120 down on the couch and I talked for ten minutes, 0:14:34.880 --> 0:14:37.400 and five years later people still watch that. 0:14:37.920 --> 0:14:40.120 Yeah that's super cool. Yeah it's amazing. So it is 0:14:40.320 --> 0:14:42.680 active in one sense because you kind of still need 0:14:42.680 --> 0:14:45.120 to continue to create content in order to keep new 0:14:45.280 --> 0:14:47.760 viewers coming in. But then some of the videos you 0:14:47.800 --> 0:14:49.880 made a long time ago still have a lot of juice, 0:14:49.880 --> 0:14:52.280 which is really cool. Do you have any tips for 0:14:52.320 --> 0:14:55.520 someone out there who maybe has like a burning desire 0:14:55.600 --> 0:14:59.040 to share their knowledge and they think they've seen what 0:14:59.120 --> 0:15:01.520 mister Beast is able to accomplish, and maybe also you've 0:15:01.560 --> 0:15:03.600 been able to accomplish. Michael and they're like, I could 0:15:03.600 --> 0:15:05.960 see myself doing something like that. Do you have any 0:15:06.040 --> 0:15:09.400 kind of tips of the trade or kind of hey, 0:15:10.080 --> 0:15:12.960 here's how you start to begin a YouTube channel and 0:15:13.120 --> 0:15:14.400 you're not just yelling into the void. 0:15:14.480 --> 0:15:16.880 Sure, I mean I think what you said is where 0:15:16.880 --> 0:15:20.600 I would start share your knowledge. It's much easier to 0:15:20.680 --> 0:15:23.800 share your knowledge than it is to share your life. 0:15:24.680 --> 0:15:27.240 So that would kind of be the difference between a 0:15:27.480 --> 0:15:31.680 channel that has more of an informational and educational view 0:15:32.040 --> 0:15:35.440 as opposed to one that is a look at me 0:15:35.680 --> 0:15:39.800 type of channel. So if you think about problems that 0:15:39.800 --> 0:15:41.920 people are going through, and you have the solutions. 0:15:42.160 --> 0:15:43.200 So I'll give you an example. 0:15:43.280 --> 0:15:46.440 I had someone came over a few months ago and 0:15:46.680 --> 0:15:51.760 helped me install a couple ceiling fans, and he had 0:15:51.800 --> 0:15:55.160 never dealt with this brand before. So then I went 0:15:55.200 --> 0:15:56.960 on YouTube and I searched and I was like, wow, 0:15:57.000 --> 0:15:59.400 there's like no video about this. But if you look 0:15:59.480 --> 0:16:01.600 up some of the other brands like Hunter, let's say, 0:16:01.600 --> 0:16:05.160 there's like millions of views of people just filming themselves 0:16:05.240 --> 0:16:09.080 swapping out a ceiling fan. So this guy, like a 0:16:09.120 --> 0:16:11.720 big part of his business is installing ceiling fans. He 0:16:11.760 --> 0:16:15.280 could just record himself at a client's house doing it, 0:16:15.760 --> 0:16:18.440 go home and voice over all the steps and then 0:16:18.480 --> 0:16:22.000 that's a way to like help someone out. But also 0:16:22.680 --> 0:16:25.560 that would be like a turn into a semi passive 0:16:26.320 --> 0:16:30.040 additional income for them. Yeah, it's not super exciting, but 0:16:30.160 --> 0:16:33.800 it could. Really it would help people, and it would 0:16:33.840 --> 0:16:35.720 it's in that person's wheelhouse. 0:16:35.800 --> 0:16:37.640 Yeah, well, I mean you say it's not super exciting, 0:16:37.680 --> 0:16:39.800 but like I think for a lot of people, I 0:16:39.840 --> 0:16:42.480 think what you said about knowledge versus life, right, the 0:16:42.520 --> 0:16:45.920 ability to share either a passion or some information that 0:16:45.920 --> 0:16:48.280 you have as opposed to feeling like you have to 0:16:48.320 --> 0:16:51.520 bear all tell all fabricate drama. I think there's a 0:16:51.520 --> 0:16:54.280 lot of folks who might actually find that incredibly interesting 0:16:54.360 --> 0:16:57.920 because it seems like it's doable. There's something about I 0:16:57.960 --> 0:17:00.560 don't know, it feels more honest, perhaps even to me, 0:17:00.960 --> 0:17:04.399 than like trying to figure out whatever like the next 0:17:04.480 --> 0:17:07.480 YouTube algorithm is going to be. Because there's actual value 0:17:08.000 --> 0:17:10.240 that you are you are able to portray, and so 0:17:10.359 --> 0:17:12.760 the ability to say cool, this is a this is 0:17:12.800 --> 0:17:16.680 a clear way that I can provide value out into 0:17:16.720 --> 0:17:18.480 the world, out into YouTube, to be able to help 0:17:18.520 --> 0:17:22.960 people while at the same time hopefully generating some additional income. 0:17:23.040 --> 0:17:24.800 But I also like kind of how you said you 0:17:25.119 --> 0:17:28.160 look to see, oh wait, there's a nobody's covering this yet, 0:17:28.240 --> 0:17:30.240 and we can be the first. We can be the 0:17:30.240 --> 0:17:33.240 pioneer here. And if you're the pioneer on that video, 0:17:33.760 --> 0:17:35.640 that you have more of a chance to stand out right, 0:17:35.880 --> 0:17:38.240 Whereas if you're kind of saying the stuff that everyone 0:17:38.240 --> 0:17:39.560 else is saying, like you got to kind of find 0:17:39.600 --> 0:17:41.399 that niche too. What is it that I know about 0:17:41.600 --> 0:17:43.680 that very few people are publishing on And I think 0:17:43.680 --> 0:17:45.680 that's a good place to start creating content, and I 0:17:45.720 --> 0:17:46.840 think you can broaden from there. 0:17:46.960 --> 0:17:49.960 The way that I've heard a lot of YouTube gurus 0:17:50.040 --> 0:17:53.239 boil it down is it's the audience, and I do 0:17:53.320 --> 0:17:56.399 agree with that. I think usually when I put the 0:17:56.400 --> 0:17:59.760 most effort into the videos and they're based on things 0:17:59.800 --> 0:18:02.520 that I know people have either reached out to me 0:18:02.720 --> 0:18:04.760 or I've done the research and I find they're interested 0:18:04.800 --> 0:18:07.119 in those are the ones that do the best short 0:18:07.200 --> 0:18:10.399 term and over the long haul. So there is a 0:18:10.480 --> 0:18:14.320 research component to figuring out what people care about, because 0:18:14.920 --> 0:18:17.240 maybe what you care about is not something that a 0:18:17.280 --> 0:18:18.200 ton of people care about. 0:18:18.200 --> 0:18:19.400 But I do think that's a place to. 0:18:19.320 --> 0:18:22.240 Start, is your your own interests. And back to what 0:18:22.320 --> 0:18:26.000 you said about being original, maybe you're doing okay content, 0:18:26.240 --> 0:18:28.960 but it's been done by too many people in too 0:18:29.000 --> 0:18:30.080 many different ways. 0:18:30.400 --> 0:18:33.400 That makes sense. Okay, So, Michael, I don't know if 0:18:34.080 --> 0:18:36.480 how you feel about sharing this, but like, how much 0:18:36.800 --> 0:18:39.639 of the revenue that you're able to generate from YouTube? 0:18:40.240 --> 0:18:43.919 What percentage of your expenses would you say that that covers? 0:18:43.920 --> 0:18:46.480