A young Aussie known for sharing his finance and investing habits on TikTok has listed the ‘money rules’ he lives by.
TikToker and stock investor Charlie Ehlers, 28, from Perth , claims to have saved more than $200,000 by 26 through learning how to invest, learning how to manage his spending, and working full-time while studying.
Today he’s conscious of how she spends his income by not using ‘buy now, pay later’ schemes, orders food delivery sparingly, and says he’d only buy a home to live in if he had a family.
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‘Here’s some money rules I follow as someone in my 20s who’s been investing for almost 10 years now,’ he said in a TikTok video.
Scroll down for video Charlie said he’d never buy designer brands that only ‘target broke people who want to look rich’.
‘Your Louis Vuitton, your Gucci. These brands have mastered your psychology,’ he said.
‘I don’t judge, if that’s what you wanna be, that’s fine. Just letting you know there are brands that are just as good where you’re not paying for the brand name.’
Charlie is also conscious of how much money he spends drinking out.
‘If you’re someone who will go and spend $150-$200 on a night out on drinks, but then you complain about fuel prices, rent and interest rates…you’re idiotic. Pre-drink then spend $20-$50 out.’ Skip to main content Related videos
58.4K 488 359 Watch more exciting videos on TikTokWatch more exciting videos on TikTokWatch more exciting videos on TikTok @charlieehlers Check out my free $ guide ➡️ #personalfinance #investing #moneyrules original sound – Charlie Ehlers In his controversial opinion, Charlie said you shouldn’t go to university unless you’re ‘keen on a profession’.
‘Too many people go into debt to get a degree that they don’t use. If you’re getting a degree, do it because you want to be in that profession,’ he said.
Perhaps the most controversial topic of discussion was about owning a home.
‘Don’t buy a home. Unless you’ve sat down and gone through all the numbers of what it cost to run and own a home, you’re not allowed to comment on that point,’ Charlie said.
‘I would personally buy a home if I could turn it into a cash-flowing asset, which most don’t because a home purchase is usually a lifestyle choice. It’s an emotional decision.
‘I would buy a home if I had a family and we wanted a specific place for a very specific reason. But to build wealth buying a home to live in is not the answer.’ Skip to main content Related videos
153 13 3 Watch more exciting videos on TikTokWatch more exciting videos on TikTokWatch more exciting videos on TikTok @charlieehlers Setting money goals will change your future 🙂 #savingmoney #investing #lear …See more Love You So – The King Khan & BBQ Show Setting money goals will change your future 🙂 #savingmoney #investing #lear …See more Charlie’s money rules:
Always round up to the dollar when transferring friends money
Never use ‘buy now, pay later’ systems, such as AfterpayDon’t buy designer brandsDon’t spend hundreds on alcohol on a night outDon’t go to university unless you’re sure you want a job in that professionInvest in good beddingDon’t buy a home to live in, buy an investment property that becomes an assetAlways finance your carOrder Uber Eats sparinglyAdvertisement Skip to main content Related videos 76 1 1 Watch more exciting videos on TikTokWatch more exciting videos on TikTokWatch more exciting videos on TikTok @charlieehlers This works well for some, not for others. Find what suits you � #savingm …See more Paris – Else This works well for some, not for others. Find what suits you � #savingm …See more In another video he revealed exactly how he became financially free in his 20s – and how others can do the same.To save he lived below his means, invested in commercial property, invests in the stock market consistently, and learnt how to build multiple streams of income.The easiest way to make more money in addition to your income is to take up a side hustle, such as answering online surveys, dog walking, Uber Eats driving or copy writing.To save ‘thousands’, Charlie doesn’t budget by using common tactics such as the 20/30/50 rule but instead focuses on the percentage of income he chooses to use for investments.’For example, invest 20 per cent of your income and the rest is yours,’ he said in another video. Different investing options: PropertyExchange-traded fund (ETFs)Australian Stock Market – ASX200US Stock Market – S&P500Advertisement ‘Side hustles’ to boost […]
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