- Aussie TikToker Charlie Ehlers, 28, shared his list of ‘money rules’
- After posting a two-minute video, it was viewed more than half a million times
- He does not use ‘buy now, pay later’ and orders food delivery sparingly
- Charlie also shared controversial opinions about owning a home and studying
- He claims to have saved $200,000 by 26 through savings and investing
A young Australian known for sharing his financial and investment 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 by learning how to invest, learn how to manage his spending and work full-time while studying.
Today, he is aware of how she spends her income by not spending ‘buy now pay later’ schemes, orders food delivery sparingly and says he would only buy a home to live in if he had a family.
“Here are some money rules I follow as a 20-something who has been investing for almost 10 years now,” he said in a TikTok video.
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Australian TikToker Charlie Ehlers (pictured) has gone viral after revealing his list of money habits – including buying Uber Eats sparingly and not owning a home unless it’s an asset
Charlie said he would 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 want to be, that’s fine. Just telling you there are brands that are just as good where you don’t pay for the brand name.’
Charlie is also aware of how much money he spends on drinking.
‘If you’re someone who wants to go and spend $150-$200 on a night out on drinks, but then complain about fuel prices, rent and interest… you’re being idiotic. Pre-drink and then spend $20-$50.’
In his controversial opinion, Charlie said you shouldn’t go to university unless you’re ‘keen for a profession’.
“Too many people go into debt to get a degree that they don’t use. If you get a degree, do it because you want to be in that field,’ he said.
Perhaps the most controversial topic of discussion was 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 people don’t because buying a home is usually a lifestyle choice. It’s an emotional decision.
‘I would buy a home if I had a family and we wanted a certain place for a very specific reason. But building wealth by buying a home to live in is not the answer.’
Charlie’s Money Rules:
Always round up to the dollar when transferring friends’ money
Never use ‘buy now pay later’ systems such as Afterpay
Don’t buy designer brands
Don’t spend hundreds on alcohol on a night out
Don’t go to university unless you are sure you want a job in that subject
Invest in good bedding
Don’t buy a home to live in, buy an investment property that becomes an asset
Always finance your car
Order Uber Eats sparingly
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 real estate, consistently invests in the stock market, and learned how to build multiple streams of income.
The easiest way to make more money on top of your income is by taking on a side hustle like taking online surveys, walking the dog, driving Uber Eats, or writing copy.
To save ‘thousands’, Charlie doesn’t budget 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 percent of your income and the rest is yours,” he said in another video.
Different investment options:
Exchange-traded funds (ETFs)
Australian Stock Market – ASX200
The US stock market – S&P500
‘Side hustles’ to increase annual income:
Dog walking or babysitting